Does Your Business Meet These 5 Business Must Haves?
To have a successful business you need to have… well, that’s what a lot of people like to share on the internet but it’s not always correct. In this video, Matt goes over another video of this type and gives us his opinions. Watch to see if the items on this list will actually help you succeed in business.
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
These are the top five must haves for any business opportunity in 2025. Number one, make sure you can do it remote. Number two, make sure it’s in one of three niches. And those niches are health, wealth, and relationships. #3 is workflow automation. Make sure all your work is front loaded and once it’s done, you have passive income streams. #4, make sure it’s high profit margin, high commission business. Number five is make sure there’s low investment capital because that protects you. I found a business that meets all these criteria. If you’d like to take a peek at it, click on the link in my bio.
Matt’s Review:
I’m gonna stop him there ’cause I don’t think he’s gonna tell us what his special fancy business is that he found that meets all these criteria. But let’s take a quick look at his criteria. One, make sure you can do it remote. Not really necessary, right? If you’re not looking to be traveling while you’re working, nothing wrong with a business that is specific to an area, right, that you can’t necessarily do remote. There’s lots of good businesses that still aren’t remote. Health, wealth, and relationships are all good categories in the sense that they have a ton of volume and a ton of people spending money in those areas. But there’s a million other categories that are also good and don’t have the same level of competition, but there’s still plenty of money being spent in them. So really, I would say focus on an area where you can add value and understand the market, not just trying to find something that fits in this guy’s criteria. Workflow automation. Yes, you want to have good processes and procedures, but a lot of things can’t be automated, but can still make very good businesses. So I’m not sure that’s a real criteria. High profit margin, yes. I mean, generally speaking, you want a higher profit margin than a lower profit margin if you have to make money on volume. You can also do that, but it is harder and subject more to fluctuation. So, this one I agree with. Generally, choosing between business options, the one with the highest profit margin is going to be the most attractive, everything else being equal. And then low investment capital, I think he meant capital as in money, not capitol as in you know the place where a state puts its headquarters. He spelled it wrong, that’s just nitpicking. Low investment capital though, I think is a good criteria too. If you can start a business with a thousand bucks and you have 5,000 bucks saved, then you’ve got room and cushion for making some mistakes, needing a little longer to get going, and being able to try something else if the first thing doesn’t work. If you need $100,000 to start a business, for most people, they don’t have that to begin with, and even if they could beg, borrow, steal, up to that amount, you’re gonna get one shot at it. And if something goes wrong or you need some extra cushion to get to break even or something, you’re not gonna have it. And then everything is lost. And the amount of pressure and stress you’re gonna feel being in that position, having borrowed money from friends and family, having taken money from investors, and then coming up just shy of being able to push through and make it work is gonna be really, really bad. So if you can find a business you can start with 500 bucks or 1,000 bucks, you can give it your best shot, and if it doesn’t work out, it doesn’t ruin your life. And you can try it again, and try it again, and maybe the third or fourth time is the one it hits. But if it takes a ton of money to start, you’re gonna get one chance. And chances are, most businesses, the first one you try out doesn’t work. It’s better to fail small and fast than fail big and never be able to try it again.
