My introduction / How to choose the right business venture?

[Fupiks]

Hi everyone,

First of all, I apologize for my English which is far from perfect (english isn't my native language).

I'd like to thank everyone for the amount of value/experience we can find on this forum and to MJ DeMarco for creating it, and above all for TMF (read a couple times) and Unscripted (currently reading, almost finished) which literally blew my mind and put in words what I've always been feeling about the way I see life.
Year after year I saw the "Script" getting tighter and tighter and always felt like there had to be more to reach real freedom.
Fastlane vision is now rooted in me and is something I'll strive for until I'll make it.

Being 24 yo and without any prior skills or business experience, I've decided to took the plunge somehow and now trying to get some, aside my job through learning a specialized skill to freelance asap which is video editing at the time for many reasons (Need to fulfill because of the race to create content, the desire to learn how to edit and also the resistance to the AI boom) but I'm also considering web design regarding a possible long term goal.
I'm also trying to get some e-com experience through the well known useless t-shirt business venture (it will at least let me get my own brand which is a childhood dream!) and maybe going further if I find a need for an other product that could be met.
Don't know if I'm making the right actions but I felt like I had to start this way...

However, although this isn't a main priority so far (because lack of experience) I'm also thinking about long term, hence specialized unit ; I would love to (and I must) launch a productocracy business that brings reel value someday and that is the main reason I've decided to finally introduce myself to the forum (after spending some time hanging out on it and getting some answers to other questions I was interrogating myself about).

I have so far 2 ideas, both with a potential high expected value, and a possibility to satisfy the CENTS framework in the long run. (I can be wrong of course, they are just ideas without execution so far).
Business A is a software system, more precisely a social media that mainly aims to link and interact people together based on their interest and Business B is a human ressource system, that would be a mix of restauration and other activities with the aim to replicate it through the unit strategy.

Their execution both have their pros and cons (and I'm totally okay with it). But they represent kind of a life choice, since I'll dedicate my time and ressources to build one of them:

- Business A (Software system)
Pros: Easier to launch than a HR system, Computers are the better employees, Prolific scaling economies
Cons: No immediate profitable impact, Not my world (require to learn about softwares and how to code whereas I'm not a numerical guy at all, so I'd start from the bottom in 2024) or outsource it (but I wouldn't be the one to control in this case).

- Business B (Human ressource system)
Pros: Big potential at becoming a productocracy, Gives me a "job and income" as I'm trying to leverage it through the unit strategy.
Cons: Huge investment (a big local, construction work, assets... that probably will require a credit which I've been avoiding my entire life), Risk to fall in the job trap working hours and getting minimal profit for the first unit , Require human management, Long time to leverage the Scale commandement (process part) and challenging scales economies.

I wanna make clear that I'm not scared of taking the steps in each case and getting into the process principle (even if I doubt a little about my capacity to learn coding) and that I still have some time to decide which mountain I'm going to climb first, but I feel a little bit lost so far about which path to choose.

To summarize, if we talk about execution and not results, I have the choice between the "(eAsIeR but ) very challenging road" or the "expensive and long road".

So instead of looking for expected value, how can we choose the right business venture?
Also, should I take my profile and capacities in consideration or go against them to make my choice? (not numerical and more extravert profile). I know for example it's not possible
for everyone to learn to code (I've never tried so far).

I welcome suggestions, advice, opinions and criticism.

Thanks to everyone who has taken the time to read this far, I wish us the best !

 

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