#005 – How to find a profitable business idea
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In this episode, I discuss 4 things you need to consider when coming up with a profitable business idea:
- The price you should never charge
- Finding your place on the value chain
- Cost of production
- Cost of aquisition
If you spend the time to analyze these 4 areas, you'll have a much better idea of what to expect moving forward with your business idea. There are millions of ideas out there, but finding an idea that can be profitable for you and your business model can be tricky. Use this episode as a resource to help you find that profitable idea.
Here is the article on Wordstream with Facebook advertising data: https://www.wordstream.com/blog/ws/2017/02/28/facebook-advertising-benchmarks
MUSIC:
Adventures by A Himitsu | https://soundcloud.com/a-himitsu
Released by Argofox
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