Those who bring in $1Mil+ a year from their business, what kind of business do you run or what sector are you in? How many attempts of starting businesses did it take to get to where you are? And if you had any advice or tips to those wanting to get started, what are they?
You’re asking the wrong question.
For your success to be probable you need an “unfair” advantage.
What is unique about your abilities, your resources, your network, your specialized knowledge that would give you an unfair advantage in ___?
Don’t copy someone else. Know yourself, and start from there.
I disagree. You don’t need uniqueness to succeed. There are plenty of shops all in the exact same niche with the same services at the same quality for the same prices, and they’re all generally successful. Sure, there will always be nuances, but not enough to deserve recognition. We market ourselves as the best in our spaces, but few of us actually believe that.
Competitive advantage not unfair. There’s no such thing as fair in competition, as long as you’re ethical.
I believe there’s a stat that 80% of businesses are started by people leaving their job and doing the same thing themselves. Construction, auto sales type businesses come to mind. They learn how the industry works then just build it themselves.
I always look for businesses that give me a competitive advantage. Usually something that I have another business in a similar industry and the businesses can use eachother and both save money.
That’s why it was in quotes mate…
Great idea, terrible wording :P
That’s why it was in " " mate.
But it seem that didn’t translate to others.
Competitive advantage doesn’t capture the idea… its an advantage nobody else can match, cause its based on unique ability and resources unique to that person. Its something that can be copied, but can’t be replicated in total.