
Hi guys,I've looked around, including one this sub, and I see the problem faced by a number of entrepreneurs. I've done some analysis on these problems and grouped them accordingly. This has allowed me to come up with a list of some traits that I'd be looking for in any business that I start up.I'd like to get your feedback on these points and let me know if I'm issuing any. Also, I want to know if you can think of businesses that meet all ro some of these categoriesLow cost. 90% of businesses fail. I don't want to invest my life savings in a business while playing these odds. Low cost is subjective, but let's say 5k to 10k for startup costs are tolerable.Recurring Revenue. This is the holy grail. In this world, getting a new customer can be time consuming and/or expensive. I don't want to dump resources into getting a customer so that they'll only transact with me once or twice. I want stable, monthly recurring revenue from my customers.Competition. I want to be in a market where there is competition. Before investing a dollar, I want to know that someone else has invested the capital to validate the need and educate the market. I want to be able to look at my competitors to see why they are winning and in what ways I can kick their ass.Customers. I want my customers and their need for my product to be public. I don't want to throw advertising dollars into a blackhole and hope that some of my target market makes themselves known to me. I want to go on the internet or go out in public, look at someone or something and know which person or business would benefit from my product. I want to be able to target potential customers with precision and without a ton of analysis.Time to build. I want something that I don't have to build from scratch. This can take years. I have time and the startup money now. I want something I can sink my teeth into as soon as possible before life changes.Value. I want a product whole value is evident. A product that doesn't require a hard sell because they buyer isn't certain that they'll benefit from it.Relationships. I want to work with my customers. I want to have open conversations about them on whether my product is helping and how it can be improved.Any thoughts? see hubwealthy.com/wealthy






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