One way to discover promising business opportunities is by learning what industries business founders would enter if they lost everything and had to rebuild everything from scratch. A scenario on Reddit made business owners think of what they would do if they lost everything except their knowledge.
"Imagine you woke up with no business, no contacts, and just $500 in your account," the original poster said. "You still have your knowledge, but no network. Which business model would you pick right now and why?"
Business founders were quick to share their thoughts in the comments and explain captivating business opportunities.
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Local Service Businesses
Several business founders said they would start local service businesses if they had to start from scratch. Power washing, window cleaning, and lawn care were some of the local service business ideas that came up in the comments. However, there are common factors among local service businesses that make them attractive.
"Service businesses have way lower startup costs, and you’re getting paid right away," one founder said in the comments. "Even something simple like pressure washing driveways can pull in decent money with minimal upfront investment."
One Redditor argued that there is massive competition among local services, but another commenter disagreed. One founder said they helped a friend set up his handyman business late last year. Now, that friend is booked.
"I started a lawn fertilizer company in March. We already have 200 customers, and they keep coming," another founder said.
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Start With Small Projects
One founder said they would opt for a service-based business, but this individual also mentioned web development, content, and consulting. Local businesses fill a void, but there are plenty of online service businesses that let you reach a wider customer base.
Regardless of whether you opt for a local or online service business, the founder who pitched online options shared a valuable tip for getting your initial clients.
"I'd probably start by offering small projects to local businesses or friends, even unpaid or discounted at first, just to build a portfolio and get testimonials," the founder said.
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Web Marketing Agency
While it's entertaining to see how business founders would hypothetically start from scratch, it's not hypothetical for everyone. One founder started a web marketing agency with zero connections or money.
"Customers were acquired by cold calling new businesses – not particularly glamorous, and it was quite the slog, but it worked," the founder said.
The founder reinvested profits back into the business. If presented with the scenario again, the founder said they would start another local service-based business, build it up, and then exit. Then, the founder would use the funds to start another venture.
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