If You Were to Launch a Business/Startup, What Industry/Sector Would It Be In?

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Earlier this year, Inc.com released a list of sectors to consider going into if you were to start a business. The list included some pretty interesting ideas: Disaster Relief, Alternative-Protein Food Products, eSports, Influencer Agents, Beauty Tech, Women's Reproductive Health Care, Canned Wine, Elderly Care.

Any sector to add to the list?

Link to article: https://www.inc.com/ss/best-industries-for-starting-a-business

Comments (59)

Sep 11, 2018

Probably a videography/promotional services company for small businesses. There's a complete lack of talent as far as affordable videography that's high quality, and there's a lot of demand for it.

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Sep 19, 2018

I agree there. If you could somehow accomplish economies of scale in high quality photographer, you'd change the game. I work as a residential broker while in undergrad and I hire this dude to photograph houses. His work is good and normally cost ~$200 each shoot. Then I have another dude who does the whole drone video thing for an additional ~$200.
If you could bring the price down and hire quality people, you'd be set. And with Lightroom you can edit multiple houses all at once provided the lighting is somewhat similar.

"The three most harmful addictions are heroin, carbohydrates, and a monthly salary." - Nassim Taleb

Sep 20, 2018

123

Sep 13, 2018

Marijuana

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  • ij29824DE
  •  Sep 14, 2018

Pharmaceuticals

Sep 14, 2018

IVF

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Sep 19, 2018

The underrated comment in the thread... good place to do business.

Sep 19, 2018

Did a project on it a while back...my God the opportunities are almost endless and the derivative industries from it...

Sep 19, 2018

What's the best way to invest in IVF?

Sep 19, 2018

Depends on the amount. Less than $1m donate to research. $1-5m donate to a good hospital that does outstanding IVF work. $5m+ find a chain of IVF clinics. Don't know if any are listed on any stock exchange so most investments would be private placements.

Sep 19, 2018

In vitro fertilization?

Sep 20, 2018

Yes

Sep 14, 2018

If you're launching your own business do something you're ok doing 24/7 even if comp sucked because it probably will for a while....not a list on the interwebz

Sep 14, 2018
ColdCaller:

If You Were To Launch A Business/Startup, What Industry/Sector Would It Be In?

Probably at most 8 LLCs in the following areas:

fitness / nutrition / psych / analytics / product design / modern art / growth / strategy

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Funniest
Sep 15, 2018

Cool list

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Sep 14, 2018

Get distribution rights to a biomed product developed overseas, get it approved and distribute it in my home country.

Sep 16, 2018

Neat idea

Sep 16, 2018

Small restaurants operations consulting, when you see the possible process improvements to numbers non chain restaurants there is much money to be made there and you don't have to have the Capital to do PE.

Sep 19, 2018

Healthcare Interoperability.

This area is going to explode in the next 2 - 3 years and there are going to be some very wealthy individuals on the other side of the coin.

Most Helpful
Sep 19, 2018
Dedline:

Healthcare Interoperability.

This area is going to explode in the next 2 - 3 years and there are going to be some very wealthy individuals on the other side of the coin.

As someone who is nearly 7 years into a healthcare technology startup - don't do it. It's exploding, but the market moves so incredibly slow that you constantly face a war of attrition to keep enough funding to get enough proof points to keep it going. We are doing well, but it's been an incredibly painful uphill battle.

There are also some decent vendors that are already well funded, like Redox and the Sequoia Project (.org). The main problem is that the legacy EMR vendors (Epic, Cerner) have no desire to open their closed gates, and their tech is so dated that it is painfully slow to make headway, even when a major mutual customer says to do it.

It will happen, but the pace of change in healthcare is so slow that it's hard to offset the risk profile of that with sufficient early revenue growth. I was naive on how painful it would be when we started.

Sep 19, 2018

That's very interesting - were you a little early to the game, or is your experience just the way it is?

Assuming one is not a get-rich-quick-adventurer, by all accounts healthcare is the place to be over the next decade - if not there, then where?

What about outside of the US? Western Europe, Japan, the Middle East...

Sep 19, 2018

Agreed with everything you said. That said, innovation will be in consumer-mediated health information exchanges. There's gonna be a run on the EHR's monopoly over patient health information. Get stoked :)

EDIT

Was typing on a broken phone so let me extrapolate a bit now that I'm a couple drinks deeper....

Healthcare is the slowest industry of all to adopt technology but I'll throw Government and Energy in there to cover my bases. This is changing thanks to CMS mandating Meaning Use a while back to kick Health Information systems in the ass to get it together. Over time (and I'm talking about a decade) you've seen providers transform there underlying data structures from spreadsheets to RDBMS and beyond, but really, we just needed them to standardize on some sort of unified healthcare data model that was even remotely interoperable. So now we've got the largest health systems in America leveraging enterprise-comprehensive IBM, Oracle or other data model but STILL with no economic incentive to share that information with anyone outside of their respective HIE / Network of providers.

Enter people like Redox, The Sequoia Project, and another shitty start-up named... veridium?? or something? Redox is Series B after a Pivot, veridium??? is series A. Regardless, their client base sucks ass and they're fighting for clients over quality of consulting services / how much IP they've amassed writing Standard Interface Files (SIF). But really, they're just standing up a FHIR API Server (now that openEMR has finally died) in front of their proprietary data model so that providers don't have to spend $XXX,XXX,XXX on consulting costs for integration into the Value Based Care initiative de jour.

So cool, I get that and there's gonna be a market around $250M by 2024 by that, but I want more.

Without giving too much away, there is going to be a wave of consumer-mediated health information exchanges that will forcefully shift the power from Electronic Health Record Vendors to the consumer. Patients will own their longitudinal patient record and they will be able to move wherever the economics x service is most favorable. They will be able to donate their PHI to research to better the outcomes of entire populations and generations to come.

EHR companies and Health Insurance Companies are killing people. I've spent the past four years of my life working on this exact issue and finally, the technologies / enterprise adoption exists to flip this paradigm.

Healthcare Interoperability was a shitty was to define this space. Pundits call it "Consumer-Mediated Health Information Exchanges", but its even simpler than that. The applications derived to accomodate this shift in paradigm will make a killing. These applications will be far more noble than the current regime.

Sep 19, 2018

dblpost

Sep 19, 2018

The most boring shit imaginable. I'm going to open a private fund, then diversify into grocery stores, restaurants, gyms, clubs, bars, and shit people always use.

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Sep 20, 2018

Boring shit I think is smart, but don't you think grocery stores would be a brutal business to get into? I have to think the supply chain headache and inventory management is not worth the razor-thin margins and competition

Sep 19, 2018

Cryptocurrency custody services

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Sep 19, 2018

Wellness brick and mortar. Think a juice bar + vitamin/supplements + isolation tanks + sauna/steam room + yoga/stretching/pilates.

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Sep 19, 2018

Brothel

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Sep 19, 2018

Most of these ideas aren't practical to the average person. I dont have an idea, but I'd target one of 3 markets:
- Brides to be
- New Moms (or moms to be)
- Men trying to get laid

If you can find a product to market to any of these 3 you can print money

twitter: @CorpFin_Guy

Sep 19, 2018

I like the alternative-protein food products idea, especially because it's growing, but I think you could expand that into simple, clean-label & minimalist products as well. I'm baffled that RxBar could sell to Kellogg's for $600mm.

I can't cook/bake/do anything food-related for shit, but I'm sure I could find a foodie who can and pay them to be creative. Just need the end product to be good and on trend and then market effectively to a target audience. If I could find something to market to the CrossFit Cult, I'd be a multi-millionaire tomorrow.

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Sep 19, 2018

Cannabis, hands down.

If there was an industry I'd be ok DYING POOR in, it's this one. I still have every intention to enter but having the right network is so crucial to starting right (which is actually why I moved to VC out of ER). If I died poor but helped make consuming cannabis equivalent to drinking wine/beer for working professionals I'd be happy with that.

Also, if anyone has connections to the industry or want to connect just to chat about it, please PM me. Would love to connect with more working professionals that are into the space.

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Sep 19, 2018

Do you have any thoughts on what happened today?

Sep 19, 2018

Sorry not sure which news you're referring to but I'll share thoughts about the big ones...

1. Talks between Coke and Aurora: If you saw the most recent update, Coke said they're mainly focused on the wellness aspect and have no interest in psychoactive components. This makes sense since Coke doesn't dive into alcohol either and they're looking to expand their better-for-you portfolio. Cannabis beverage distribution and regulation is also likely to go the way towards alcohol so supply chain dynamics favor the alcohol players. I am SUPER bullish about cannabis beverages because it's such a familiar medium to consume but given the potentially tight distribution channels and capital-intensity to scale beverages, I think this category is meant for a big company to win in.

2. Tilray's stock price: Tilray's stock has been on fire and market cap is now at $20B. Recently, the USDA ok-ed Tilray importing cannabis to the US for medical research. TBH, I think the stock is really priced to perfect perfection right now. It's mostly retail money driving it and private investors in the company will be able to sell the stock in Jan 2019 so I'm incredibly wary. FYI it's a $20B valuation for a company that reported $20M in revenue?

3. South Africa legalizing recreation: TBH can't speak much for this but glad to see the headline

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Sep 19, 2018

I know some extremely smart guys up in Colorado starting a very sophisticated grow-op. PM me for details.

Sep 22, 2018

Never imagined I'd see someone openly boasting about that on public internet forums.

What a time to be alive

Sep 20, 2018

123

Sep 22, 2018

The vertical SaaS market is sooooo crowded now you've got public traded PE funds (i.e. Constellation Software) focused solely on the space.

I've seen 5 different barbershop management solutions in the past few months...

Not sure how you'd carve out a niche at this point.

Sep 23, 2018

I buy/invest in consumer brands doing under $10M a year and it's very easy to make money in the space. The other day I talked to a leather goods co. doing g $36M a year and they JUST implemented a mobile site 6 months ago. Incredible how many poorly run businesses are out there across all industries. :)

Sep 19, 2018

Robotics and AI

Sep 19, 2018

Influencer Agents is pretty interesting- but I think the big problem will be competing with the established talent agencies. I think once (if) influencers start to earn as much as actors/ actresses then CAA/ WME/ UTA will step in and send agents after them. Agents typically make 10% of whatever their client/ actor/ actress makes. Packaging agents are legit too, they make 5% of the hard movie costs (for my RE peeps, its basically like a developer fee as a percentage of hard costs). 5% of a $30MM movie is a lot of money. But I digress.

As for me personally, I want to open up my own RE Development shop. Nothing groundbreaking or industry changing, but I'd like to fully integrate construction and development under one roof (JDS and others do this in NYC). I think making medical facilities more like retail and less intimidating would be cool. Someone mentioned IVF.. I think thats an interesting space.

"The three most harmful addictions are heroin, carbohydrates, and a monthly salary." - Nassim Taleb

Sep 20, 2018

I feel like there needs to be some kind of recognized platform for finding worthy influencers. You have celebrities that charge an exorbitant amount, but a lot of times, the real value in influencer marketing comes from very niche brands, that can communicate directly to a business's target audience, and right now, all the communication between brands and influencers happens over private message, which is pretty dodgy. If there was some kind of network that connected legitimate influencers with different brands, and then took a small % of each sale, it'd be a great business. And the business could extract value from the influencer marketers who have much smaller numbers of followers or subscribers. Influencer marketing is a $500 million dollar industry, at least. But I feel like this is probably already a thing.

Sep 23, 2018

Loads of these exist.

Sep 23, 2018

Not the most inventive idea, but definitely a profitable one. A parking lot in NYC.

Sep 23, 2018
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Sep 24, 2018