Best Business to Start When You're Broke: A Comprehensive Guide
Learn how to identify the right business idea, target your audience, and attract your first customers when you're broke. Discover the three P's framework and essential steps to kickstart your entrepreneurship journey successfully.
Install Tubelator On Chrome
Video Summary & Chapters
No chapters for this video generated yet.
Video Transcript
So if you're broke or you don't know what business to start, by the end of this video,
you will know what business to start, who you're going to serve, how you're going to serve them,
and the exact message to send to get your first five customers. I'm a co-owner of school.com,
where we help tens of thousands of new people every single month start their first business
online. And right now, one out of two people who start a paid community-owned school make their
first dollar. One out of two. This process I'm going to show you works. So there's five parts
of these frameworks and then two bonuses.
One is that's advanced and one that'll give you next steps
on what to do with this so you can make your first dollar.
So it starts with the what, which is,
what is your business actually going to be about?
And so I use something called the three P's framework.
All right, so you can write this down, the three P's.
And that's because almost all businesses
get born of one of these three P's.
And the first is pain.
So it's something that you went through personally
and had to overcome.
So a friend of mine has a wife, well, they're married.
And they have nine kids.
And so in her going through this process,
she was like, well, what would work for me?
And I'm like, well, you have nine kids.
So I'll bet you that you just making lunch for nine kids
every day is probably a process.
She's like, oh, yeah.
I have this whole thing that I do.
So I organize this so everybody has their own bags.
And they all know who it is.
And then I can do it in a time that's cheap for me
and gets them all the food, all the protein
and all the other stuff.
And she's like, I have a system around that.
And I was like, that is the beginning of a business.
The second is your profession meaning what you do for a day job or what you've done in the past
I've recently made a video about a lady who quit her job as a registered dietitian at a
hospital and then started teaching other registered dietitians how to bill insurance and
The reason that she learned how to do that was at the hospital
She had to work six days a week and work 12 plus hours per day as an RD
And so she only had one day a week that she could bill her personal clients on the side
And so she had to figure out this really complex
complex billing system and how to do it really quickly.
And so she took something that she learned from her profession and made a business around
something really, really narrow.
And so a lot of people think that it's got to be this big, crazy thing.
If you solve one very specific problem for somebody, that is a business.
And you might think, oh, well, how am I going to get a huge following from all that?
This particular individual has 5,800 people who follow her on Instagram, and she takes
home almost a million dollars a year in income.
And so if you're an accountant or you do HR or you
