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It’s much more valuable to get started on something you have a higher likelihood of success wit

What do you think is the best business for people to get into right now? >> I think the best business for someone to start if they've never started a business before is something that they already have tangential experience with.

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Key takeaways

  • What do you think is the best business for people to get into right now?
  • >> I think the best business for someone to start if they've never started a business before is something that they already have tangential experience with.
  • And one of the big fallacies of your first business is that it's going to be your last business and it almost never is.
  • And so the idea is like it's much more valuable to get started on something that you have a higher likelihood of success on so that you can get some faster rewards for the behavior of getting into business.

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  1. 0:00
    Abschnitt 1 What do you think is the best business for people to get into right now?

Full transcript

Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.

1 segments

0:00What do you think is the best business for people to get into right now? >> I think the best business for someone to start if they've never started a business before is something that they already have tangential experience with. And so usually you have parents, friends, family, first jobs that you have some industry knowledge. There's a huge learning curve to entering any new industry. And if you can just pay down some of that ignorance tax, even if the opportunity vehicle isn't the perfect one, you will still have a significantly higher likelihood [music] of winning. And one of the big fallacies of your first business is that it's going to be your last business and it almost never is. And so the idea is like it's much more valuable to get started on something that you have a higher likelihood of success on so that you can get some faster rewards for the behavior of getting into business. And then from there, get some resources, get some skills, and then you can have a better perspective from which to make a jump or a decision on what to do next.