Me and my frnd want to start a business but we are really confused ! From last 3 months we are literally just searching for problem and thinking of ideas but nothing is working! Ik entrepreneurship is not that easy ! But if you guys can suggest some problems that are really big we can work on that ! Or give some ideas thank you 🙂
We have around 100k -200k$
byu/Illustrious-Maybe-91 inEntrepreneur
Posted by Illustrious-Maybe-91
28 Comments
Keep the 200k. Spend as little as possible. Just because you have the money doesn’t mean you need to use it. Don’t use the money if you don’t know how to use it. Seriously.
Secondly, don’t respond to people telling you to DM them. They want your 200k.
Look for a problem and solve it with a SaaS product
Right now the market does seem to be in favor of businesses with low physical assets, it’s also less risk not have to buy/maintain/operate physical tools compared to web based products. Might start there and cruise negative comments on app stores to find gap.
Just because you have money doesn’t mean you should start a business.
You may spend a bit on investigating an issue that sparks your curiosity. Let me share an example…
Recently, I discovered that the “looking for a job” experience is about the worst human experience of the modern era. A solution to that is what I am working on currently. But I haven’t spent any money on it
Just started a free newsletter to see if there is a market for what I envision
You spend money to scale a business, not to start. And you must remember that business is not a product or idea. Instead, business is customers – customers who are willing to pay
Start local …what stuff really pisses you off or your family or friends ? ….fix that stuff
You won’t be able to solve any big problems with 100k-200k. Probably better off just buying an old business and modernizing it with better marketing etc
I am selling an airport if you want to buy
Sometimes you don’t need to search for a new problem. Research buying existing companies that want to sell, or even franchising.
Until you not see and feel problem in market, you cannot come up with any solution that can have significant value. Yes making such inquiry can we useful if you’re looking to generate your own work or parallel stream that can make you some money. But again that would not be a passion kind of business that will become big.
find inefficient markets and find a way to take advantage of them – that being said, why are you going into business? most good businesses start because someone has an idea they want to share with the world, if you have no idea yet and have nothing you are passionate about that you want to work on, are you just infatuated with the idea of having a business? I have been there, it doesn’t work well.
You just found the trillion dollar problem. People like you with money and no idea where to start.
Welcome to selling courses and books on how to be an entrepreneur and be your own boss. For a low monthly fee of $10k/month, I can teach you how to make $100k/month.
Where do you live? What Can you do?
What field are you and your friend currently in? Do you see gaps that could be filled in your chosen field? If so, you can work towards brainstorming ways to fix said problem(s) and reverse engineer a business from there. I wouldn’t be in such a rush to invest the money, really sit down with your friend and have a brain dump session.
My two friends and I started working at a start up last year. We run a full support department with over 150 clients. Luckily, we all have the same mindset of treating any job like it’s our own business. After about six months we sent out surveys and even though the clients are not getting the results they would like from the company they explained that the way we help them on the day to day is superior to any support that they have received before.
After going through these surveys we hopped on a call, did a brain dump on what we would offer as a company, and boom Next Gen Support Hub was born. We’ve closed 2 clients so far and are excited to you continue providing top tier service.
Hope this helps, best of luck on your journey boss!
what areas do you both have experience, knowledge, skills or interest in? I think you have to have some idea of what you want to spend your days doing. Different enterprises have different working days.
Take the $200k and move to a small town in Europe in the alps and live like a king for a few years for inspiration. Don’t come on here asking other people for ideas to build a successful business. If they knew they will just build it themselves and not give away the great idea. Bad strategy here. Now pack up and head to Europe!
Do something tried and true.
Only use 10% of that and make it happen
Invest in a Ecom or sass startup which compliments your background where you can add value and be a hands on investor/partner.
Start a consumable brand.
Read this post
https://www.reddit.com/r/sidehustle/s/bQzs2hPIca
You could invest in Real Estate that with that amount of money. You will also see problems doing that for sure and you can solve them. I get ideas daily into my mind its all about not forcing it and going open eyed through the world, it will comme by time.
As a concept: Try to solve your own problems. For sure you have experienced a lot of problems in your life.
Anyway, it would be good to have some more info about your background and your interests.
Buy one of my businesses. It’s around 100k -200k$
😆😆😆
What’s your actual goal with a business? You don’t need 100k to start a business. A college roommate started a carpet cleaning business with like 6 grand and now is producing like 3 Million top line and like 900k take home. You don’t need a great idea, go see what others are doing and do it better, learn to market and sell, and then learn how to hire and lead, and operations.
If you don’t know what to do, do the next best thing and put that money in some of the greatest businesses ever built. Buy magnificent seven or QQQ.
You could always invest in somebody else and save yourself the work.
Over here at my biz we having a working app and getting on average at least 1 new subscriber every day. We’re looking for seed money and there are others out there like us.
Feel free to DM if you’d like to chat about this or about starting your own gig.
Here you have a guy with a lot of ideas [https://www.reddit.com/r/Entrepreneur/comments/1fq3kam/helping_startup/](https://www.reddit.com/r/Entrepreneur/comments/1fq3kam/helping_startup/)
Read millionaire fastlane
Honestly put it into a high yield savings account, then take the compound interest/free money at the end of the year to create something. That way you’re making money and not rushing to make decisions.
I’m sending you a DM. I want your 200k