The other day I saw this tweet by @blackhatwizardd and it got me thinking:
"What is it about unsexy businesses that make so much money?"
Here's what I found:
"What is it about unsexy businesses that make so much money?"
Here's what I found:
Unsexy businesses have 5 components:
1. Little competition
2. Little innovation
3. Big whales dominating
4. Everyone needs it
5. A lot of money
Let's dissect them one by one (your next business could be waiting)
1. Little competition
2. Little innovation
3. Big whales dominating
4. Everyone needs it
5. A lot of money
Let's dissect them one by one (your next business could be waiting)
LITTLE COMPETITION
2018: Everyone's a dropshipper
2020: Everyone's an agency owner
2021: Everyone's a crypto trader
Focus shifts from the goal (money) to the trend (where money looks easy)
Think about it:
2018: Everyone's a dropshipper
2020: Everyone's an agency owner
2021: Everyone's a crypto trader
Focus shifts from the goal (money) to the trend (where money looks easy)
Think about it:
People think that X trend will make them a fortune.
But they don't realize that the company that made your chair made them rich.
Or the company that installed wifi in your house.
Fortunes are everywhere. But less people look for them in unsexy industries.
But they don't realize that the company that made your chair made them rich.
Or the company that installed wifi in your house.
Fortunes are everywhere. But less people look for them in unsexy industries.
LITTLE INNOVATION
Competition breeds innovation.
No competition = no innovation. Because why would they?
Customers are going to buy from them anyway.
Which is why smartphones get better quick but house painting services don't.
Competition breeds innovation.
No competition = no innovation. Because why would they?
Customers are going to buy from them anyway.
Which is why smartphones get better quick but house painting services don't.
BIG WHALES DOMINATING
These industries are dominated by the big guys. But some people hate the big guys.
For every dollar they make there's a couple cents you can make.
And that's still a lot of money.
These industries are dominated by the big guys. But some people hate the big guys.
For every dollar they make there's a couple cents you can make.
And that's still a lot of money.
EVERYONE NEEDS IT
Not everyone needs a marketing agency.
But everyone needs a plumber. Wifi. Plague prevention. Getting their phone fixed. A place to store money. A bed. Clean water. Shoes. Electricity. Etc...
Not everyone needs a marketing agency.
But everyone needs a plumber. Wifi. Plague prevention. Getting their phone fixed. A place to store money. A bed. Clean water. Shoes. Electricity. Etc...
A LOT OF MONEY
High demand + low competition + frustration with current services = $$$$ to be made
Maybe that's why they print so much.
Because if you take ego out, the opportunity is just obvious.
High demand + low competition + frustration with current services = $$$$ to be made
Maybe that's why they print so much.
Because if you take ego out, the opportunity is just obvious.
Maybe the answer is to go UNSEXY.
You never know.
But if this got you thinking, I'd appreciate you sharing the top tweet.
And follow me if you'd like to learn more on business and SaaS.
Talk soon,
Will.
You never know.
But if this got you thinking, I'd appreciate you sharing the top tweet.
And follow me if you'd like to learn more on business and SaaS.
Talk soon,
Will.
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