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Untapped Potential: The Best Kept Secret in Investing
When we hear about successful entrepreneurs, we often think of innovative startups, disruptive technology, and rapid growth.
But there’s a less glamorous (yet highly lucrative) side of business that often goes overlooked: Boring Old Businesses (BOBs).
These businesses–typically well-established and far from the cutting edge of innovation–might not make headlines, but they’re stable (and profitable) cash cows.
Think self-storage, lawn services, pest control or construction companies.
Not Your Typical Startup
Startups are enticing. I mean, who doesn’t want to be the next Apple, Amazon, or Tesla? But the harsh reality is the majority of startups fail. Stats from the Small Business Administration reveal that approximately 65% of businesses don’t make it past their first five years. In other words… Starting a startup is RISKY.
On the flipside, BOBs offer something that startups lack – staying power. These boring enterprises have weathered the storms of uncertainty, found their niche, and honed their operations.
In other words, BOBs are on average both less risky AND more profitable.
Why BOBs Are For Sale
If BOBs are so awesome, then why are they for sale? Well, there are many reasons. A business owner might be looking to retire, they could be burnt out, seeking new opportunities, relocating, experiencing health issues, or divorce.
There’s a vast pool of these businesses available for acquisition. And for the right investor, they present a golden opportunity.
Untapped Potential
BOBs may not be the sexiest businesses to run, but they often boast something that startups don’t: untapped potential.
Many of these businesses have been coasting along, producing steady profits for years, yet remain largely neglected. They often lack an online presence, customer databases, and modern marketing strategies. Think of your local, father-and-son lawn service business, which has survived on word-of-mouth marketing and a phone number on the side of their truck.
Clearly, there’s an opportunity there.
This neglect translates into huge opportunities for savvy investors who know these modern business strategies. By simply raising the prices, rebranding, and implementing a few marketing tactics, you can completely shift the trajectory of one of these businesses on a massive upward trend.
Maximize Profitability
Boring Old Businesses are a great addition to your investment portfolio. They offer stability and profitability with minimal work. Simple steps like building an email list, creating an online presence, or restructuring pricing can breathe new life into these businesses. On top of that, pivoting into new markets transitioning from services to products (and vice versa) can unlock huge profits.
While BOBs may not be the hottest trend out there, their stability, untapped potential, and opportunity to be easily optimized is an attractive opportunity you don’t want to miss.
If you want to learn where to find these BOBs, how to identify the most profitable opportunities, and more importantly, how to acquire a profitable business without pulling any cash out of your pocket, I invite you to join our upcoming FREE 5-Day EPIC Challenge.
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I recently made $1,000,000 through a project fully created by ChatGPT. While the money was great – what I was most excited about was discovering all the ways you can use AI to make money.
In this short video, I explain the four stellar ways to monetize this AI technology (even if you have no prior experience using ChatGPT). If you want to create a 7-figure business, you’ll want to watch this video.