60 - Determining Which Business Type To Start (Part 1)

In this episode, I'll go through and explain, first off, what a business does at a very base level. (Solve a problem for profit). Then I break down the two types of business categories there are. 1. High Profit, Low Start Up Cost. 2. Low Profit, High Start Up Cost. We go through the pros and cons of both and why you most likely need to start with category #1. In doing my research for this one, I found an Alex Becker video that explains it well, so I'll reference that in the discussion. You can also find a link to it below in the show notes.

Episode 60 of the #GetPaid Be Free (W/ Josh Forti) podcast, hosted by Josh Forti, titled "60 - Determining Which Business Type To Start (Part 1)" was published on May 6, 2019 and runs 28 minutes.

May 6, 2019 ·28m · #GetPaid Be Free (W/ Josh Forti)

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Summary

Episode Description

In this episode, I’m going to talk the two dominant types of business categories that you can start. The first one is High Profit, Low Startup Cost while the second one is Low Profit, High Startup Cost.

I’m going to talk extensively about each of them, the sub-categories within them, and the types of businesses you can start within each category, so you can be able to make an informed decision when you choose dive into entrepreneurship.

Key Points Discussed: