Think Binary When Starting a Business
I really like binary businesses.
Here’s why—
… but FIRST, what IS a binary business??
Think about it as a black/ white outcome.
Yes/no.
0/1 (that’s the binary reference).
It’s either you do the job or you don’t. The solution is simply by YOU doing the service.
Your customers have a problem, you provide the solution and get paid.
Yes, I’m oversimplifying, but generally, I would advise looking at your next business venture in this way.
Does my customer have a problem that I can easily solve without any disagreement over how it’s solved?
If yes, you’re probably looking at a binary business.
Examples:
tree trimming (trees are cut they’re not)
Stump grinding (stump is there, now it’s gone)
Gutter repair (it’s fixed or it’s not)
HVAC (your AC works or it doesn’t)
You see the similarities here?
A lot of home service businesses are binary, BUT that doesn’t excuse other businesses.
Here’s a trick— take this full tweet and drop it into ChatGPT and ask it to give you other binary businesses outside of home services that you can start with little to no money. Let me know what you get.