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- Jul 24, 2018
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I keep finding places with high entry barriers
Following the Commandment of Entry principle, the higher the barrier of entry the better it is.
The commandment of entry principle is better outlined in the books, the following is from the fastlane forum:
Entrepreneurs are problem solvers. If anyone can mimic your business overnight by following a simple 1-2-3 step process, you're not solving any problems. In fact, the more difficult it is to start your business, the better the opportunity you have. The difficulty IS the opportunity. Fortunes are not made in a business you created overnight -- fortunes are made by solving problems and delivering value to the market in a strongly defended position.
Take dropshipping. An online store can be setup in an hour, anyone can do it, costs like $30. The result is the market is saturated, profit margins are eroded, no problems are fixed, no solutions provided.
Compare that to any number of progress threads on here of successful entrepreneurs who took months and years of overcoming barriers and obstacles only to then succeed.
Obviously we cannot say more without knowing the idea, but this is something to remember moving forward.
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