Starting a Business in 2023: Profitability, Stability, and Simplification

This article is a summary of a YouTube video "ПОЖАЛУЙСТА, НЕ ОТКРЫВАЙТЕ БИЗНЕС В 2023!" by На пенсию в 35 лет!

TLDR Starting a business in 2023 may not be advisable due to various factors, but if one chooses to do so, they should focus on profitability, stability, and simplification, while also considering the changing landscape and potential challenges.

Mindset and Philosophy of Business

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Starting a business is not about achieving freedom or working less, but rather about having a constant itch to build and fix things in your own way.
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Big guys, monsters, of their own free will, freed a clearing for us - a small business.
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"I basically do not enter into businesses where hope is not for sale...people are ready to pay any money for it."
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It's better to avoid the strategy of selling a business for a lot of money and focus on building a sustainable and successful business.
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The founder of a successful business creates them from scratch or gets them at the expense of non-monetary resources, rather than buying them on Avito or elsewhere.

Strategies and Tactics for Business Success

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The trend of looking for unicorns and hockey sticks in startups is no longer sustainable, as the focus should be on creating sustainable revenue growth rather than just attracting investors.
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The skill of observation is crucial in identifying pain points and potential business ideas, and can be developed through practice and experience.
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Visitors follow green signs with the word "Exit" during an emergency, suggesting the importance of clear and simple communication in business.
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A woman sold dog food, found small suppliers, received good reviews, upgraded the store, and sold it for 2 million rubles, showing the potential for success in finding a niche market.
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Starting a successful business doesn't require millions of dollars, just a smart strategy to steal the audience from competitors with strong content.

Timestamped Summary

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00:00
Starting a business in 2023 may not be a good idea due to outdated knowledge, high bankruptcy rates, and it may be easier to pursue a career or learn a trade for financial security; entrepreneurship is not the same as business and a business that can't be sold or function without an owner can still be successful.
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04:45
Starting a business in 2023 is not recommended due to the declining economy, prolonged winter, and the need for innovative thinking to survive in the changing landscape.
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08:34
Don't start a business in 2023, focus on profitability and stability, prioritize native integration, open a real estate business with Vysotsky Estate, and avoid distractions from analyzing by unsubscribing from telegram channels and not watching the news.
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12:13
Find business ideas by identifying pain points, learn from experienced friends, focus on businesses that offer hope as a product, and learn a profession that provides stable income and flexibility.
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14:33
Starting a business in 2023 is not recommended due to competition from corporations with unlimited advertising budgets and strong lobbies, but if you do, focus on attracting the attention of big money through PR and revenue growth, and simplify your business to provide clear paths for customers in times of emergency.
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17:50
Avoid certain niches, focus on simple solutions and building a feedback system to increase turnover and eventually sell the business for profit; consider your place in the food chain before opening a cafe or restaurant in a rich area to avoid high expenses and low revenue; sell client stream to competitors, capture attention of area, and sell advertising to new establishments.
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20:33
Avoid opening a business in 2023 due to recent events involving schools, public opinion, populist politicians, penalties for bloggers, and tax crimes, as it is a tactic by authorities to uncover hidden activities and call out tax violations.
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22:58
Avoid opening businesses with seasonality and instead consider niches like pharmacies and liquor stores; sell your knowledge and experience instead of starting a business, and focus on adapting, having a solid plan, and starting with minimal expenses.

This article is a summary of a YouTube video "ПОЖАЛУЙСТА, НЕ ОТКРЫВАЙТЕ БИЗНЕС В 2023!" by На пенсию в 35 лет!

Summaries → Starting a Business → Starting a Business in 2023: Profitability, Stability, and Simplification