Read on Twitter
What makes a high-value online business?
Let me add some massive value to your TL.
Here's a thread on business philosophy.
Use this to evaluate whether your business plan is going to work.
Let me add some massive value to your TL.
Here's a thread on business philosophy.
Use this to evaluate whether your business plan is going to work.
The same factors that make a traditional business (TB) high-value make an online business (OB) high-value.
High-value businesses are
- Passive
- Scalable
- Profitable
- Secure
and the more passive, scalable, and productive, the higher the value.
High-value businesses are
- Passive
- Scalable
- Profitable
- Secure
and the more passive, scalable, and productive, the higher the value.
When I say value,
I don't mean the business's value proposition.
Not your pitch.
That's client/customer facing.
I mean the value of the business to you, the owner.
I don't mean the business's value proposition.
Not your pitch.
That's client/customer facing.
I mean the value of the business to you, the owner.
1. Passive.
There is no such thing as passive income.
Everyone trades time for money at some rate.
The goal is to trade less time for more money.
The less time your business requires, the higher its value to you.
This business makes you free,
because time is freedom.
There is no such thing as passive income.
Everyone trades time for money at some rate.
The goal is to trade less time for more money.
The less time your business requires, the higher its value to you.
This business makes you free,
because time is freedom.
Time is your most limited resource.
You're always spending it.
But you can spend time lugging water from the river,
or you can spend time building pipes to carry water for you.
That's what "passive" income means:
building pipes to carry water for you.
You're always spending it.
But you can spend time lugging water from the river,
or you can spend time building pipes to carry water for you.
That's what "passive" income means:
building pipes to carry water for you.
2. Scalable.
Artisanal products are incredible things.
But an artisan can only make one chair at a time.
Higher scalability produces higher value.
Growth = more income,
and income supports freedom.
Artisanal products are incredible things.
But an artisan can only make one chair at a time.
Higher scalability produces higher value.
Growth = more income,
and income supports freedom.
Notice how scalable and passive are not the same thing.
Fishing with bobbers is passive.
You can just sit there and watch the bobber.
But you can only watch so many bobbers.
Fishing with traps is passive.
You can check more traps.
Traps are more scalable.
Fishing with bobbers is passive.
You can just sit there and watch the bobber.
But you can only watch so many bobbers.
Fishing with traps is passive.
You can check more traps.
Traps are more scalable.
3. Profitable.
A business that loses money is a liability.
A business that makes money is an asset.
- Liabilities steal wealth.
- Assets create wealth.
- Liabilities destroy peace.
- Assets compound peace.
- Liabilities jail you.
- Assets set you free.
A business that loses money is a liability.
A business that makes money is an asset.
- Liabilities steal wealth.
- Assets create wealth.
- Liabilities destroy peace.
- Assets compound peace.
- Liabilities jail you.
- Assets set you free.
To reduce a business's losses, reduce its overhead.
OB has a huge advantage here over TB.
Twitter is free (you can make money here).
Email is free to start (you can make money there).
A website is cheap compared to office space.
OB startup for under $100?
Absolutely.
OB has a huge advantage here over TB.
Twitter is free (you can make money here).
Email is free to start (you can make money there).
A website is cheap compared to office space.
OB startup for under $100?
Absolutely.
But it's not enough not to lose money.
It's not enough to just break even.
Because you're also investing time.
And time is your most valuable resource.
So you need to make money.
A business needs to be profitable.
It's not enough to just break even.
Because you're also investing time.
And time is your most valuable resource.
So you need to make money.
A business needs to be profitable.
4. Security.
No one can tell the future.
Duh.
But consistent actions produce consistent results.
Your business can be secure.
It can be consistent.
No one can tell the future.
Duh.
But consistent actions produce consistent results.
Your business can be secure.
It can be consistent.
Another way to think about security:
Ownership.
Who is better off:
The person who gets a franchise,
or the person who gives it?
The person who uses someone else's property,
or the person who owns the property?
Ownership.
Who is better off:
The person who gets a franchise,
or the person who gives it?
The person who uses someone else's property,
or the person who owns the property?
Which factor is most important to you?
- Time?
- Size?
- Profit?
- Security?
In other words, which do you value more?
- Freedom?
- Influence?
- Income?
- Assurance?
It's probably some mix of these.
- Time?
- Size?
- Profit?
- Security?
In other words, which do you value more?
- Freedom?
- Influence?
- Income?
- Assurance?
It's probably some mix of these.
Good news:
There are plenty of online businesses that are
- Passive
- Scalable
- Profitable
- Secure
More good news:
You can adapt different business models to your desires.
There are plenty of online businesses that are
- Passive
- Scalable
- Profitable
- Secure
More good news:
You can adapt different business models to your desires.
What makes for a high-value business?
Whatever business gives you what you value.
Whatever business gives you what you value.
If this thread gave you value, please like and RT the first tweet. https://twitter.com/iwillgetyoupaid/status/1357353057047220226
I'm also writing an e-book on how to build a business that builds your future.
Subscribe before I finish, I'll send you a free copy.
I write fast though. https://gumroad.com/iwillgetyoupaid/follow
Subscribe before I finish, I'll send you a free copy.
I write fast though. https://gumroad.com/iwillgetyoupaid/follow
