What to start now: uncool but high opportunity businesses

TL;DR

The best opportunities are in sectors that people overlook, like longevity med spas, wealth advisory, and insurance, where demand remains strong and margins can be high. The video also emphasizes selling to wealthier clients, moving up market, and using pricing analytics to capture more value while explaining that niche but overlooked areas often hold the biggest upside.

Transcript

Are there any obvious businesses that have emerged in your point of view because of what's going on in the world that a young person that wants to cut their teeth should probably be aiming at? 15 years ago for me it was starting an agency. I think that opportunity is a little bit saturated now, if there I say. >> I think that the nature of agencies... Read More

Key Insights

• Lifecycle demand for essential services ensures long term opportunity in wealth, insurance, and health related sectors.
• Markets with low glamour but high demand often have the strongest growth potential and less competition.
• Pricing signals reflect business maturity; higher prices correlate with higher value and fewer client headaches.
• Upselling upmarket improves margins and reduces sales friction by targeting credible, larger clients.
• Wealth concentration implies a focus on higher net worth clients for scalable growth.
• Non-trendy sectors like waste management and elderly care can be lucrative where others avoid them.
• The Van Westendorp pricing method helps identify optimal price points based on customer perceptions.
• Automation and AI can enhance efficiency but should not replace value delivery to wealthier customers.
• More videos from this channel:
  • How to Start an AI Service Business With $500
  • How to perform the 5 longevity exercises for men
  • How to Boost VO2 Max for a Longer Healthy Life
• More from this channel: The Diary Of A CEO Clips

Questions & Answers

Q: What sectors does the speaker say will continue to crush in the future besides AI solutions

The speaker highlights longevity med spa and related wellness services, wealth advisory, and insurance as sectors that will continue to crush due to ongoing demand for looking young, managing wealth, and fractionalizing risk. These areas are presented as durable opportunities that persist beyond trending technologies.

Q: Why should you aim to sell to wealthier clients according to the video

Selling to wealthier clients is advantageous because they generally have larger budgets, which allows for higher margins and more sustainable revenue. The speaker notes that as you move up market, you earn credibility, reduce sales friction, and can scale more effectively, compared to chasing smaller, price-sensitive clients.

Q: What is the main idea behind looking at 'uncool' businesses for opportunities

The main idea is that businesses people would rather not discuss, such as waste management or elderly care, can hold big opportunities due to lower competition and clear demand for essential services. The insight is that the lack of glamour often masks substantial potential revenue.

Q: How does the speaker suggest pricing signals relate to business strength

The speaker asserts that price acts as a strong signal of value; when a service is delivered with high value, price can be increased, which improves margins and reduces headaches. The concept is that better businesses can justify higher prices, attracting better clients and reducing churn.

Q: What pricing tool does the video mention for finding optimal price points

The video mentions the Van Westendorp pricing analysis, which uses four questions to determine acceptable price ranges and optimal points, helping to estimate where demand peaks and margins are maximized, especially when launching a new offering.

Q: What challenge is described when moving from small clients to big accounts

Moving to big accounts requires credibility and a proven track record, making it harder to break in. The speaker notes that companies like Coca-Cola may be easier to secure than an early startup, but you must demonstrate real value, scale, and reliability to win such opportunities.

Q: What does the speaker say about price and service quality in relation to demand

The speaker argues that when you deliver more value than you charge, demand increases, creating a positive feedback loop. Pricing should reflect the level of service, with higher value justifying higher prices and better client segments, leading to less headaches and stronger growth.

Q: What simple actionable shift does the video advocate for service businesses

The video advocates shifting pricing upward as you demonstrate stronger value and service outcomes. This involves targeting higher value clients, improving credibility, and using pricing analysis to set ranges that maximize revenue while maintaining demand, rather than staying with low price points.

Summary & Key Takeaways

• The speaker identifies growing, less glamorous sectors that still crush it financially, such as longevity med spas, wealth advisory, and insurance, arguing they will remain strong because demand and risk management are constant. He also notes that pushing upmarket and targeting wealthier clients leads to higher margins and fewer headaches.

• A core message is to look where others wont look, such as waste management or elderly care, since these areas have big opportunities due to low competition plus clear desire for essential services. He ties pricing signals to perceived value as a key driver of growth.

• The discussion stresses practical growth strategies like moving from small, low-budget clients to high-budget accounts, using value-based pricing, and applying tools like Van Westendorp pricing analysis to identify price points that maximize revenue while maintaining demand.