Young entrepreneurs today are focusing in the wrong space.
The tech/digital space is maturing fast. The product and retail space is mature. Think about your odds of success, risk, and competition. You are competing against silicon valley, big retail, and (in the case of new products) you are training your market. This is all very risky and most entrepreneurs get discouraged and give up.
The on-demand economy is booming. Not just Uber - but everyday services. Consumers are outsourcing more and more of the services they need. They are specializing more and more. Nobody is wasting time servicing their home or learning how to do menial but necessary tasks themselves. Businesses are outsourcing more and more and focusing on their core competency. They don't do their own bookkeeping. They don't do their own marketing. Many don't even answer their own phones.
Many of these services are hard to scale and require skilled labor so the market is fragmented. Most successful companies service one location and have less than 20 employees. Mom and Pop companies dominate. The barriers to enter are low and it is cheap to get started. You aren't training a market and the market is exploding. You can start out as a freelancer while learning the the, fine tuning your model and deciding when is right for you to grow and become an entrepreneur.
The mom and pop companies can't keep up with the growth because they have no desire to scale their companies and do more than make a great life for themselves. There are massive holes in the market. Many companies don't have a website and don't have time to answer the phone. Especially in the large cities with an upper class demographic.
You can carve out some business and income quickly in this space. You can then grow and scale with some basic business principles and expand to passive income once the momentum is behind you.
Why isn't everyone doing it?
You have to work hard. You have to play the long game. It takes years. Its not sexy. You won't end up with a $100M valuation.
Start small. Work smart. You can succeed and you can make a great life for yourself while helping the people around you.
I did it and so can you.
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