Pat Flynn - Ranking the BEST and WORST Business Ideas for Beginners (2025) - TIER LIST
The video discusses various business ideas for beginners, ranking them from worst to best based on practicality and potential for success. It advises against starting with time-consuming and costly projects like writing a book, inventing a product, or creating software, as these require significant resources and expertise. Instead, it suggests focusing on building an audience and credibility first, which can lead to more effective monetization strategies.
The speaker highlights the benefits of digital products, online courses, and coaching as superior business models due to their scalability and potential for recurring revenue. These models allow for leveraging existing expertise and audience trust to provide value. The importance of community building is also emphasized, as it fosters loyalty and provides a platform for ongoing engagement and support. The video encourages beginners to start with simple, actionable steps, such as offering done-for-you services or affiliate marketing, to generate initial revenue and build confidence.
Key Points:
- Avoid starting with complex projects like book writing or product invention; focus on audience building first.
- Digital products and online courses offer scalable revenue opportunities.
- Coaching provides immediate revenue potential and builds authority.
- Community building is crucial for long-term success and engagement.
- Affiliate marketing is a low-barrier entry point for beginners to start earning.
Details:
1. 🚀 Kicking Off: Business Ideas Tier List Overview
- Writing a book can take a significant amount of time and energy, with examples ranging from one to two and a half years to complete a single book.
- As a beginner, time and energy might be better spent on activities like building relationships, creating content, and learning about the target market.
- Writing a book is relatively inexpensive to start, requiring only basic tools like a Google Doc, but it is a heavy project not recommended for beginners.
- While a book can build authority, there are faster, cheaper, and smarter ways to establish authority, such as blogging, creating online courses, or engaging in public speaking.
- Examples of successful authority-building projects include XYZ's blog series that doubled their audience in six months and ABC's online course that generated $50,000 in revenue in the first year.