Answered by Lukas Paskauskas, engineer, programmer & marketer
Well, my first business did not take off and it was like a week after I came to the conclusion "Okay, let's move on". (More on my first business in other questions).
I was following this guy Timothy Marc. He is a really good marketer and probably the best active copywriter I came across. He had this business bootcamp (free) and I took it. Most of the stuff was pretty obvious but one thing stuck with me:
He asked: Would you rather sell a $20 ebook or $7000 video?
I then thought, hmm that is actually pretty smart! So a friend of mine and I looked for some ideas of service based business and decided to go with Infographics.
The launch process was simple.
Once we got a client, we asked for a deposit. We used that deposit to pay freelancers for the production of Infographic.
Whatever we received after the deposit was pure profit.
Our startup costs were next to nothing (and I was still on a very tight student budget, so that's convenient.)
I think you will naturally wonder, okay, how do you prove clients that you can deliver. So what I did was to talk to many freelancers beforehand and ask for their permission to use their work in our portfolio. :)
It was a pretty fun business to have as profit margins were insane. It was also really thrilling to sell a product worth of couple k. Confidence building experience.
Especially if you live in a big city (Paris, Amsterdam, London, NYC... whatever) - I highly recommend you give service business a try. Startup costs are essentially zero, it is really easy to communicate what you are going to do for your clients and how it ties to their ROI and such business really builds up your confidence.
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