What Types of Businesses Do I Like to Bet On?

Summary

• I focus on businesses that cater to universal human needs, such as attraction, hunger, shelter, and status.
• I prefer to bet on "sure things" that have a long-lasting demand.
• I avoid trends and fads because they are less reliable over time.
• I look at a shorter time horizon, like 36 months, because things can change quickly.

Video

How To Take Action

I would suggest implementing strategies that focus on universal human needs. Think about what people will always need and want.

1. Identify Universal Needs:

• Start by thinking about services or products that cater to basic needs like attraction, hunger, shelter, and status.
• For example, if you’re into retail, consider everyday items that people will always need, like food or basic clothing.

2. Avoid Trends and Fads:

• Don’t chase the latest trends. Instead, focus on what has always worked and what will always be in demand.
• If you’re starting a new project, make sure it addresses something timeless.

3. Shorter Time Horizon:

• Plan for the next 36 months rather than looking too far ahead. Things change quickly, and a shorter horizon helps you stay adaptable.
• Set realistic goals and milestones for the next 3 years and review them regularly.

4. Consistent Demand:

• Aim to provide something people consistently need over time — think food, housing, or personal care.
• Even if you're in a niche market, consider how it fulfills a basic need or solves a common problem.

5. Low-Cost Testing:

• To ensure your idea has staying power, start with small, low-cost tests. This could be a limited product launch or a small-scale service.
• Gather feedback and be prepared to pivot if necessary.

By focusing on these strategies, you'll build a stable and reliable foundation for your business or personal growth endeavors, targeting needs that won't go away.

Full Transcript

what type of businesses are you looking to acquire over a fiveyear Time Horizon and then a 20y year time Horizon I look at like 36 months uh just cuz things change so fast but in terms of me like I like to bet on the sure things which is like okay well men and women will find each other attractive okay so that's something like people will be hungry for a long time great people want shelter okay people want status okay so things that I think are deeply human that I don't think are going to change the way they manifest in terms of Commerce will change over time but I want to I want to make bets on things that I don't think are fat and I'll say that's the that's the honestly I just avoid Trends I want things that aren't going to change