Businesses You Should Avoid And Why

[Robertson]

Hey everyone!

My journey in entrepreneurship is only starting, but I wanted to give my thoughts and opinions instead of just asking questions.

Here is my list of business / side hustles to be avoided in my opinion:
1) Dropshipping - It's too saturated, and even if you are successful most of the time the success doesn't last as everyone moves onto the next big thing.
2) Marketing Agency - This one is very saturated, all the popular influencers have been pushing this for years and years now. Most people get into this industry and have no clue about marketing either.
3) Vending machines - Where I live the market is full. The big corporations already have vending machines in all the best places and your chance of finding a good spot of minimal.
4) Copywriting - Due to AI, people don't really want to pay as much to copywriters. And when they do, they want to pay someone with years of experience. A newbie is not going to have much luck in the industry today.
5) Day trading - Unless you have a good amount of money to begin with and are educated then it's not a great idea. However, even though I don't have the best trading skills or much capital, I still enjoy day trading and improving my skills. I think of it more as a hobby for now.
6) Course creation - Unless you are a true expert in an industry and topic there is really no point in pursuing this as you will find it extremely difficult to gain the trust of your audience.
7) Graphic design - I believe AI has pretty much taken over this, and with the tools available anyone with a spare 15 minutes can make their own graphic designs.
8) Mobile valet / car detailing - Turns out where I live this is not in demand. People would rather have a quick wash at the gas station for €15 than pay €150 to someone for a proper deep clean. This business is quite difficult to scale also, and if you live in the city you will spend more time travelling to your customer rather than working.
9) Print on demand clothing brand - Way too saturated and unless you have amazing marketing skills and designs. The profit margin is almost non existant too.
10) Watch rental business - I feel that there is too much risk that comes with this business. People damaging the watches, taking parts, switching it for replicas, etc. I feel that it would just be a massive headache and most of you time would be spent double checking every watch and worrying about if the customer didn't give you a really good replica. Also there is a point to be made that you need quite a lot of money to start this business.

That's just a few, some I've tried to start myself and some I didn't. I'm open to any discussions and debates anyone wants to have, and I'm also curious to hear what businesses you think should be avoided.

 

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[DonyaSze]

About Graphic design: I was a graphic designer for 2 separate companies, and it was 90% handling printers and putting giant printed stickers on signs and like 10% (maybe less than that) art. The AI can make a robotic looking artwork, but it can’t load a printer and push the buttons on it. Graphic design is doing fine.

 

[perchboy]

There are millions killing it in each industry you listed. If you’re a shit graphic designer who doesn’t know how to run a business then of course you’ll fail but there are graphic design companies that make 6 figs a month.

There’s no business tier list for people to follow. You should start whatever business that you have a unique advantage in.

All just comes down to providing value.

 

[Raedrum]

Hello @Robertson

Thank you for your feedback, these are interesting points of view, indeed most of these market are pretty well crowded.

However some of these are not as saturated as it might seems.

For example there are still (and will alway be) a lot of people needing help for their marketing. For multiple reasons, as liking to work with freelancers, liking to outsource, no time, bad past decisions, etc... + as you say most people don't have a clue about marketing so it is easy to outrun the competition.

Even in print on demand there are people nailing it, thank to excellent execution.

As @perchboy say it come down to providing value.

 

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[Robertson]

About Graphic design: I was a graphic designer for 2 separate companies, and it was 90% handling printers and putting giant printed stickers on signs and like 10% (maybe less than that) art. The AI can make a robotic looking artwork, but it can’t load a printer and push the buttons on it. Graphic design is doing fine.

Thanks for your response!

You make a valid point. I think with the ever expanding capabilities of AI the industry will be affected greatly. I believe that the work process will no longer be the same, and graphic designers will be outsourcing a lot of the thinking and operations to AI and software, and then making the final touches to them.

You mentioned that 90% of your work as a graphic designer was manual work. At that point your more of a general operative rather than a graphic designer. I was referring to a graphic designer that works solely on the computer, designing websites, logos, digital images, etc. In that case there is no need for physical copies of his work, everything is digital. No printers or much manual work needed.

What would you say are some aspects of graphic design that in your opinion AI couldn't replace?

 

[Robertson]

There are millions killing it in each industry you listed. If you’re a shit graphic designer who doesn’t know how to run a business then of course you’ll fail but there are graphic design companies that make 6 figs a month.

There’s no business tier list for people to follow. You should start whatever business that you have a unique advantage in.

All just comes down to providing value.

Thanks for your response.

I agree there are many many successful people in each business I have listed. I was looking at it from my point of view in terms of how the world is progressing and someone who is relatively new to the business world. I think if you would want to get into some of the businesses listed, for example graphic design - you would have to adapt with the rapid changes in the industry. One of these changes is AI, which in my opinion is taking away unique advantages from experts and handing it over to an average person without those skills.

That's my opinion on the matter, and while I agree that there is no business tier list that is carved into stone, I believe that someone can create a tailored business list that can help them choose the right industry to get into. At the end of the day everyone is different, some just want a small business to supplement their income, while others want to create one to achieve great wealth.

 

[Robertson]

Hello @Robertson

Thank you for your feedback, these are interesting points of view, indeed most of these market are pretty well crowded.

However some of these are not as saturated as it might seems.

For example there are still (and will alway be) a lot of people needing help for their marketing. For multiple reasons, as liking to work with freelancers, liking to outsource, no time, bad past decisions, etc... + as you say most people don't have a clue about marketing so it is easy to outrun the competition.

Even in print on demand there are people nailing it, thank to excellent execution.

As @perchboy say it come down to providing value.

Thanks for your response!

I must admit that after reading your post your words have shifted my approach on this topic.

Sure these industries are crowded, some more than others - but at the end of the day you do not need 100% of the market to earn a living. Let's take digital marketing for example, the market is valued in the billions. All you need is a tiny fraction of that market value on your side and your set.

Indeed, at the end of the day it comes down to providing value. I might be a little too concerned, but with the way AI is progressing the amount of value that can be provided is becoming smaller and smaller. Why pay for a graphic designer to make some cartoons for your new book when you can use AI and get the same if not better images faster and cheaper.

 

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[Subsonic]

Hey everyone!

My journey in entrepreneurship is only starting, but I wanted to give my thoughts and opinions instead of just asking questions.

Here is my list of business / side hustles to be avoided in my opinion:
1) Dropshipping - It's too saturated, and even if you are successful most of the time the success doesn't last as everyone moves onto the next big thing.
2) Marketing Agency - This one is very saturated, all the popular influencers have been pushing this for years and years now. Most people get into this industry and have no clue about marketing either.
3) Vending machines - Where I live the market is full. The big corporations already have vending machines in all the best places and your chance of finding a good spot of minimal.
4) Copywriting - Due to AI, people don't really want to pay as much to copywriters. And when they do, they want to pay someone with years of experience. A newbie is not going to have much luck in the industry today.
5) Day trading - Unless you have a good amount of money to begin with and are educated then it's not a great idea. However, even though I don't have the best trading skills or much capital, I still enjoy day trading and improving my skills. I think of it more as a hobby for now.
6) Course creation - Unless you are a true expert in an industry and topic there is really no point in pursuing this as you will find it extremely difficult to gain the trust of your audience.
7) Graphic design - I believe AI has pretty much taken over this, and with the tools available anyone with a spare 15 minutes can make their own graphic designs.
8) Mobile valet / car detailing - Turns out where I live this is not in demand. People would rather have a quick wash at the gas station for €15 than pay €150 to someone for a proper deep clean. This business is quite difficult to scale also, and if you live in the city you will spend more time travelling to your customer rather than working.
9) Print on demand clothing brand - Way too saturated and unless you have amazing marketing skills and designs. The profit margin is almost non existant too.
10) Watch rental business - I feel that there is too much risk that comes with this business. People damaging the watches, taking parts, switching it for replicas, etc. I feel that it would just be a massive headache and most of you time would be spent double checking every watch and worrying about if the customer didn't give you a really good replica. Also there is a point to be made that you need quite a lot of money to start this business.

That's just a few, some I've tried to start myself and some I didn't. I'm open to any discussions and debates anyone wants to have, and I'm also curious to hear what businesses you think should be avoided.

Is this written by AI ?

 

[Robertson]

Is this written by AI ?

I don't know whether to take that as an insult or a complement

- Kind Regards ChatGPT

 

[Onakosa]

I've never heard of (10) before! I can imagine it's a thing though. Agree with (2) - particularly the second sentence.

 

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[Oso]

Every time someone says, "marketing is oversaturated," I get paid.

Please keep letting people control you. Less competition for me.

Cheers!

 

[Keeton]

There is always space for companies in an industry providing their customers with great products/services. There's so many companies out there that don't focus on the customer in each industry, that its really not that hard to stand out, and be better than most other companies. From what I've seen, Saturation isn't a thing, only bad businesses. There's always room at the top, and as longs as you stick with a certain business for long enough, and not abandon ship. You will find your on the top in a matter of months or years. There's going to be someone who starts their marketing agency next year, and they will be making 50k a month within 6 months. As long as you're customer focused, you'll be alright in anything you do. But that still doesn't mean you won't fail, when you do fail, you just gotta get back up, and give the industry another swing.

 

[luminis_]

The business models you listed are not the things that saturate. OFFERS and PRODUCTS saturate

Take your example of "Marketing Agency" - for a marketing agency to render completely obsolete and "saturated", every single business in its niche would have to be thriving and be generating a consistent flow of leads, customers, and sales. Obviously, this is not the case for every single industry, so agencies will always be in demand.

What does saturate? Using the same offers that every influencer tells you will work like "$1.5K per month retainer with no risk reversal or guarantee." Or the Ecom guru who tells their millions of followers to sell a certain product.

Niches and business models don't saturate. Products and offers do.

 

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[Kevin88660]

Hey everyone!

My journey in entrepreneurship is only starting, but I wanted to give my thoughts and opinions instead of just asking questions.

Here is my list of business / side hustles to be avoided in my opinion:
1) Dropshipping - It's too saturated, and even if you are successful most of the time the success doesn't last as everyone moves onto the next big thing.
2) Marketing Agency - This one is very saturated, all the popular influencers have been pushing this for years and years now. Most people get into this industry and have no clue about marketing either.
3) Vending machines - Where I live the market is full. The big corporations already have vending machines in all the best places and your chance of finding a good spot of minimal.
4) Copywriting - Due to AI, people don't really want to pay as much to copywriters. And when they do, they want to pay someone with years of experience. A newbie is not going to have much luck in the industry today.
5) Day trading - Unless you have a good amount of money to begin with and are educated then it's not a great idea. However, even though I don't have the best trading skills or much capital, I still enjoy day trading and improving my skills. I think of it more as a hobby for now.
6) Course creation - Unless you are a true expert in an industry and topic there is really no point in pursuing this as you will find it extremely difficult to gain the trust of your audience.
7) Graphic design - I believe AI has pretty much taken over this, and with the tools available anyone with a spare 15 minutes can make their own graphic designs.
8) Mobile valet / car detailing - Turns out where I live this is not in demand. People would rather have a quick wash at the gas station for €15 than pay €150 to someone for a proper deep clean. This business is quite difficult to scale also, and if you live in the city you will spend more time travelling to your customer rather than working.
9) Print on demand clothing brand - Way too saturated and unless you have amazing marketing skills and designs. The profit margin is almost non existant too.
10) Watch rental business - I feel that there is too much risk that comes with this business. People damaging the watches, taking parts, switching it for replicas, etc. I feel that it would just be a massive headache and most of you time would be spent double checking every watch and worrying about if the customer didn't give you a really good replica. Also there is a point to be made that you need quite a lot of money to start this business.

That's just a few, some I've tried to start myself and some I didn't. I'm open to any discussions and debates anyone wants to have, and I'm also curious to hear what businesses you think should be avoided.

I didn't know people rent watches. Learnt something.

 

[Dragos222]

Greetings!

IMO, your post smells like "There are people in this industry, so I'm not going pursue anything in it". This is what MJ DeMarco warns us about, and I totally agree with him.

Of course, I think you make the most money by doing something valuable which is extremely new - but, let's face it: it's rare.
I think that a more appropriate way of doing things is asking yourself "How can I do *x* successfully?"

I think that in every single industry/market/niche you go in, you HAVE to have good skills. That could be either in web dev, graphic design, vending machines - anything.

I encourage you and everyone else who will *hopefully* read this to learn good skills. You can't expect to not have skills and to only make money by finding something new.

Hope you have a great day/night and get to work!!!

 

[MJ DeMarco]

Pack and ship retail stores.

 

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[Dragos222]

Pack and ship retail stores.

Hi MJ!

What about them?

 

[Fit Tech Goat]

Many of these business are not CENTS businesses.

They are easy to start, but hard to scale due to the competition.

Most of the people who are successful with them were there the first, or are selling a course about it.

 

[Nfavour]

Hey, It is important to keep in mind that everyone's experiences can be different, and there may be exceptions to every rule. Nevertheless, there are specific types of businesses that need to be approached with care or avoided entirely. Your post is a significant reminder for people to be watchful and deliberate when deciding to engage with businesses.
Also, remember that taking the time to thoroughly research and assess a business is an investment in your safety and financial well-being. Being well-informed and cautious can help you steer clear of scams, fraudulent activities, or unsatisfactory experiences with businesses.
Finally, I believe that consistency is key, so keep pushing in any given business you decide to embark on and spend money and time on promotions.
For all your PR needs and promotion, get in touch with a reliable PR company I worked with in the past, they are a dependable option for anyone looking for effective PR services because of their dedication to quality, notoriety in the business, and success stories in a variety of industries. You can get in touch with 9-Figure Media to find out how they help improve your PR efforts. DM for more info on this.

Good luck!!!

 

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[MJ DeMarco]

Hey, It is important to keep in mind that everyone's experiences can be different, and there may be exceptions to every rule. Nevertheless, there are specific types of businesses that need to be approached with care or avoided entirely. Your post is a significant reminder for people to be watchful and deliberate when deciding to engage with businesses.
Also, remember that taking the time to thoroughly research and assess a business is an investment in your safety and financial well-being. Being well-informed and cautious can help you steer clear of scams, fraudulent activities, or unsatisfactory experiences with businesses.
Finally, I believe that consistency is key, so keep pushing in any given business you decide to embark on and spend money and time on promotions.
For all your PR needs and promotion, get in touch with a reliable PR company I worked with in the past, they are a dependable option for anyone looking for effective PR services because of their dedication to quality, notoriety in the business, and success stories in a variety of industries. You can get in touch with 9-Figure Media to find out how they help improve your PR efforts. DM for more info on this.

Good luck!!!

Goodbye, we don't want to talk to an AI.

 

[The-J]

Dropshipping - It's too saturated, and even if you are successful most of the time the success doesn't last as everyone moves onto the next big thing.

Just use it to test & source your own once you find a winner

Marketing Agency - This one is very saturated, all the popular influencers have been pushing this for years and years now. Most people get into this industry and have no clue about marketing either.

Just get good lol (or be a popular influencer who has an expert marketer who can get results for clients). Either you're the business getter, or you're the results getter. Then you can build a team to do both those things

Vending machines - Where I live the market is full. The big corporations already have vending machines in all the best places and your chance of finding a good spot of minimal.

Location location location

Copywriting - Due to AI, people don't really want to pay as much to copywriters. And when they do, they want to pay someone with years of experience. A newbie is not going to have much luck in the industry today.

Lots of ways to make this work and they all involve owning your revenue source (own LPs, own newsletters, own offers, etc) not freelancing on Upwork

Day trading - Unless you have a good amount of money to begin with and are educated then it's not a great idea. However, even though I don't have the best trading skills or much capital, I still enjoy day trading and improving my skills. I think of it more as a hobby for now.

Better to get a job on Wall Street tbh but if it's a hobby like sports betting then w/e. Some people are sick at it but unless you're a quant genius who can code OR you have some sort of advantage (which you probably don't) then it's just a hobby

Course creation - Unless you are a true expert in an industry and topic there is really no point in pursuing this as you will find it extremely difficult to gain the trust of your audience.

Ya, be an expert or sell courses for an expert

Graphic design - I believe AI has pretty much taken over this, and with the tools available anyone with a spare 15 minutes can make their own graphic designs.

Sell graphics to agencies who need a metric F*ckton of them. (Helps if you have a cost advantage, there's a reason there are so many graphic design agencies in Pakistan)

Mobile valet / car detailing - Turns out where I live this is not in demand. People would rather have a quick wash at the gas station for €15 than pay €150 to someone for a proper deep clean. This business is quite difficult to scale also, and if you live in the city you will spend more time travelling to your customer rather than working.

Location location location

Print on demand clothing brand - Way too saturated and unless you have amazing marketing skills and designs. The profit margin is almost non existant too.

All about margins + designs, if you have good margins then you can just test designs until you get winners & scale those up. I've done it. Of course you can't just stop testing because someone is gonna steal your design at some point so you gotta keep making more

Watch rental business - I feel that there is too much risk that comes with this business. People damaging the watches, taking parts, switching it for replicas, etc. I feel that it would just be a massive headache and most of you time would be spent double checking every watch and worrying about if the customer didn't give you a really good replica. Also there is a point to be made that you need quite a lot of money to start this business.

I've never heard of this lol you're better off selling fakes on Canal St (or being an actual jeweller?)

---

Any business can be Fastlane with the right approach. Also the reason there's so many of these types of businesses is because they can all exist at the same time. Marketing agencies, for example, compete with each other but they also kind of don't, because (1) many businesses trust their marketing agency too much to switch and (2) bigger businesses hire multiple agencies to do the same work. And since marketing agencies can be run with small teams and charge high dollar amounts per client, they can functionally exist without marketing or sales & get enough recurring & referral business to grow. While most people trying to start "easy" businesses will fail because they won't put in the effort necessary to make it work, some will & they'll do well enough to pay their payroll and mortgage.

 

[ZackerySprague]

Try them all and come back with the result. I say Experience is king. Even in the field that I'm in.

You will soon realize what works and what doesn't based on the market feedback.

Better to try first hand than guess or write reasons. I know because I tried. It's not the way to do it. You can't guess what's best when you have hit the market.

MJs books will give you a good start on what to do.

 

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