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3 Paths To Start A Business

Name: 3 Paths To Start A Business
Uploaded: 2024-11-25T22:00:02+00:00
Duration: 45 s
Channel: Shanli Liu, CPA, CTP
Description: In this segment, the presenter outlines a simple framework for generating business ideas by focusing on three sources: (1) a personal pain or problem you…

25 Nov 2024 · 1 min

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In this segment, the presenter outlines a simple framework for generating business ideas by focusing on three sources: (1) a personal pain or problem you have solved (e.g., a parent creating allergy‑safe lunches), (2) a professional skill that can be fractionalized and offered to multiple companies, and (3) a personal passion (e.g., model cars) that can be turned into products, services, or content. The speaker emphasizes that most viable businesses stem from one of these three origins and that each can guide what to sell when launching a new venture.

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pain, profession, and then passion. Almost all businesses can get derived from one of these three things, which is like you had some painful experience you overcame. That's, you know, a mom who helps her kids pack lunches who have food allergies. It's like if you figured out how to overcome that, then you can help other people do it too. The second one is profession. So whatever you do in a company fundamentally is something that other companies probably want. And so you can always fractionalize whatever your professional skill is between multiple companies. And so that's just taking a skill that you already have in the workplace and just selling it to other people. And then passion is like, okay, well, I love model cars. Okay, you could build a subscription building them. You could build the actual products around them. You could make a channel about painting model cars. You could, like, there's a zillion things that you could do there. But in each of these, it's usually something you overcame, some sort of professional skill that you learned, or some passion. And so that usually goes into what to sell.