Single Operated Newsletter - Should You Start A Boring Business?
Business ideas ecommerce versus a boring business. Which one is better?...
New applications for an employer ID in the US "reached 1.1 million through mid-September, a 12% increase over the same period last year and the most since 2007," according to an analysis of US Census Bureau data by The Wall Street Journal.
But what kind of business do you start?
The Impact of Crime
Not to be a "Debbie Downer" many people starting small brick-and-mortar businesses tend to overlook the impact of crime.
New investors who get started in real estate ventures soon begin to realize where the best "deals" are located. Often they are in parts of town where drugs and crime are prevalent.
Yes, there are thousands of exciting startup businesses that fight to get capital from Angel investors.
According to Forbes in an article about boring businesses;
"... U.S. Small Business Administration, in 2008 (the most recent year for which data is available), these (boring) companies produced 46 percent of the nonfarm GDP rivaling major corporation contributions and exceeding startup ventures as a category."
Boring businesses are almost always service-oriented.
Some examples include:
- Child care.
- A food truck.
- Catering services
- Cleaning services.
- House painting.
- Printing services.
New business owners have the challenge of raising money. And some of these boring offline businesses, like food trucks, still may encounter the issues mentioned earlier.
We Prefer the Online Business Model
It is not a coincidence that Jeff Bezos is the richest person in the United States.
An online business gives you the ability to work from anywhere. That means you can travel. You can also choose to live anywhere you want.
The other advantage of the business model we chose is that it is based on a 'boring' service that is more than 300 years old!
Though similar to our biggest competitor in San Francisco, he won't give you the ability to share in the wealth.
You can learn more at the link below: