What Business to Start in ~ Leila Hormozi

Write down all the opportunities that you have.

What are the top five opportunities that are out there in terms of businesses that you could pursue.

Step number two is I want you to write down the pros and cons of each.

What I want you to think about with pros and cons is what's the market opportunity? If you have Airbnb as one of your opportunities, go Google Airbnb right now and look at the market growth rate.

At what rate is the market growing? And then compare that across all the five opportunities you have.

Would you consider the market opportunity? pro or a con.

Second piece is margin.

I want you to take each of those opportunities that you have and Google what is the typical margin in that industry and then look at them and in comparison with the margin for Airbnb versus online education business, be a pro or a con.

One might be 10%, one might be 50%.

Obviously higher margins are better.

The third is really the market opportunity.

So you might see the growth rate in an industry is high, but is there an opportunity for your business in that market? Is the growth rate, the market opportunity, and the margin considered a pro or a con? I'm not saying this is right or this is the standard.

This is just what I used to figure out Acquisition.com.

The next step is whatever ones out of those have more cons than pros, toss it immediately.

It doesn't matter how you feel about the opportunity.

If there are more cons than there are pros, immediately cross it out.

So do that before going to the next step.