What business should i start right now ?

in #business7 years ago

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According to CIA world book the world's population increases at around 245,000 people per day. Buying cheap land and a house would be my option especially in places like Australia where water is limited to coastal areas. Worst house best street. It's all about time in the market not timing! Property invariably appreciates with increasing demand, mortgages slowly get paid off, rents increase and equity increases. Just stay away from real estate agents. (I'm very wary of businesses that charge a percentage based commission). Most importantly it doesn't chew up 40 hours a week working in a job. I own several commercial properties but there's no way I want to run a business in one. I may as well be employed. My criteria for an investment are no employees (except casual cleaners, repairers and a trusted local person for odd jobs and checking on things). Can be run remotely so I don't have to be there and of course provide a passive income. I'm sure there's a bunch of people that would suggest franchises etc. You really want as little competition as possible. I built a grass airstrip where I rent out hangar space. I've seen crane companies that have been around for 150 years. I've got a mate who's a piano tuner and never been employed and works when he wants. Qualifications that are hard to get or skills that are unique or things that are expensive that you can rent out like illuminated road signs, temporary fencing, portable toilets, earth moving equipment. Stay away from sexy, trendy stuff. It's the mundane stuff that is consistent. Business to business transactions or b2b is generally more profitable than business to customer b2c. I'd suggest you travel to other countries that are similar and see what works well and bring that idea back. Read Warren Buffet's annual reports on the Berkshire Hathaway website. They are very inspirational! There's also an interesting book called "The Millionaire Next Door" which interviewed 721 very wealthy people and what they did. In a nutshell they were typically stable financially, geographically, romantically and emotionally. Modest. Simple tastes. Determined. Played golf and were married. Well connected socially. The real gem for me was they saw an opportunity that most didn't and stubbornly worked towards and achieved it. Branson's biographies are also brilliant.

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Which Branson book do you recommend. I read Losing My Virginity and it was very inspirational. What a guy!

"the millionaire next door"
i think this is a good book.

Whatever it business, bring enterpreneur like this is awesome, you deserve to get more upvote

thank you bro..

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