Summary
- I advise against starting businesses without considering AI. Even traditional fields like construction can benefit from AI for more efficiency.
- Avoid niche businesses. Instead, target large markets with multi-billion dollar companies. Start small within a big market and expand later to provide more services than your competitors.
- Stay away from seasonal businesses. Opt for businesses that provide products or services used daily, like toilet paper, which is in constant demand.
Video
How To Take Action
I would suggest exploring ways to integrate AI into your business. Look for areas where AI can increase efficiency or streamline operations, even if your field is traditionally manual like construction. AI tools are often affordable and can save time, freeing you up to focus on growth and innovation.
A good way of choosing a business idea is to avoid focusing only on niche markets. Instead, pick a large market where multi-billion dollar companies operate. Start with a small part of this big market, then gradually expand your offerings to do more than your competitors. By understanding the needs of a wide audience, you increase your potential for success.
Steer clear of seasonal businesses where sales spike only during certain times of the year. Aim for industries with products or services that people use regularly, like toilet paper. Daily demand means you’ll have consistent revenue year-round, reducing the stress of fluctuating income.
For personal growth, think about how these strategies apply to your own life. Always be open to new tech, look for broad opportunities, and focus on daily habits that lead to constant improvement. Keep an eye on trends and adapt so you can stay ahead, making everyday choices that align with your bigger goals.
Full Transcript
I started multiple eight and nine figure businesses and these are three of the worst businesses you could start today number one anything that doesn't take into account AI if you believe your business is air proof think again even buildings and apartment complexes could be built more efficiently with machines and AI two anything that is in Niche business the riches are not in the niches it's in big massive TS go Google whatever industry you're looking at look for companies look up their stock price make sure they have a market cap in multiple billions and go after those markets you can start with the niche within that large Market but eventually you want to expand and do everything that your competition does three seasonal businesses you don't want a business where people only spend money with you once a year you want a business where people can use your product or service each and every single day toilet paper one of the ugliest businesses out there makes a ton of money because people use it daily
