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Labor-Intensive, Low-Investment Business Models
The source discusses various business models that require minimal initial investment and can potentially lead to significant income, often starting as labor-intensive personal services. It explores examples like pet sitting, lawn care, and handyman services, highlighting how these can grow from small-scale efforts to substantial earnings through client acquisition and efficiency.
Labor-Intensive, Low-Investment Business Models
Why You Shouldn’t Create a Business Plan for Your Start-up
If you do an online search for “How to Start a (fill in blank) Business,” one of the first things the results will say is to create a comprehensive business plan. If you further investigate this advice, you will see that every “how-to site” lists the same parts of a business plan as being an executive summary, company description, market analysis, organization management, services, marketing and sales strategy, and financial projections.
These sections of a business plan sound about right, but for the person sitting at their kitchen table and thinking about starting an auto detailing business, or maybe a pool cleaning business, this is total overkill. How-to sites include this information and state that it is a must to cover their butt and to avoid any legal ramifications from that person who started their small business and failed, and is blaming the how-to site because they didn’t tell them to create a business plan.