A startup founder's advisor breaks down how to pick a business idea using three factors: what you like, what you're good at, and what makes money. He argues that targeting a large market and validating demand matter more than most founders think, and that limiting beliefs are what stop you from scaling like Bezos or Zuckerberg.
Chapters
So I advise early-stage startups and small businesses. So if you're interested in starting a business, you'll come to someone like me to give me your idea, give me some of the things that you are thinking about, and I help you form that into an actual business. And I teach you the steps to get up and running as quickly as possible and start making revenue and profits from day one and thinking about how you can scale and grow at a fast rate. What's a startup business? Um, new business? Okay, yep, it's a new business. Most businesses start out as startups. So like when you see those pictures, those old school pictures where like, uh, you see, uh, Steve Jobs in a garage and, and all these people that started their companies out of the garage, usually they start out as startups because that's when they're beginning their businesses. And the purpose of a startup is for it to scale and grow usually into a large enterprise, and there's a lot of opportunity to have a large impact while you're also making a lot of money. We look at entrepreneurship and business as solving a problem. There's something wrong with this industry. I've created a solution to solve it. Especially like with the iPhone, they decided to innovate and create a mobile device that can do functions that a computer could do. And if you're looking to be an entrepreneur, you want to take it from the approach of how How do I solve a problem? Then how do I monetize the fact that I'm solving a problem? If you are thinking about entrepreneurship, take down those 3 things: what you like to do, what you're good at, and what's going to make you money. Combine it together, and then you have a beautiful foundation of what you can start a business from. When you're picking a business, you want to pick a business with a large market, and you want to get research and some type of proof that there is a market for it. In order for you to be successful in life, dream big. Dream big, make bold statements, and then execute on those statements. Because if you think small, or if you let people put their limitations on you, you're gonna stay in that box and you won't be able to be the next Jeff Bezos or Mark Zuckerberg. But if you tell yourself that you can do it and you put as much energy into actually executing on it, you can make it happen.
