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High Margins + Known Models
It was an eye opener for me because I tend to fall into this trap of always wanting to do some new cool thing for a venture. I forget that there is good money to be made in areas that have known business models and high margins.…
Entrepreneurs often look for things like huge market potential, first mover advantage, network effects, etc. But don’t ignore the success potential of business ideas that are simple to run and make a lot of money. It is a great first step on the ladder of entrepreneurship.
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