Pick a boring business nobody else wants. Uncool niches let you generate cash fast, avoid competitors, and become attractive to acquirers who need to fill gaps. Ask where others aren't going.
Pick an uncool business. I find a lot of people, they pick a business and then I ask, why are you going down that particular road? And they're going to say, I can explain it to people and it's going to get me more views on Twitter. It's going to get me more attention, right? At cocktail parties, I can go networking events, people nod, they're like, I get what's going on. The problem is everybody's doing that. If it's an obvious idea, if it's an obvious domain, lots of people are attacking it. Maybe you have some new technical insight that's going to be very different from anyone else's, but most likely you're going after the same center that everybody else is. Instead, ask where are they not going? What's hard? What is still out there? And you might find that's not what the investors want because it's going to be something that they can't turn around and explain to their limited partners. But it's an awesome place for you to be creating exceptional value and creating an asset that one can create short-term cash flows, which will make it much more self-financing and also be a much better opportunity for acquisition because somebody else who is in the center is going to need to fill in the gaps and you are the one who knows how to do it.
