Chapter
The Business Behind Passion Projects
24:20 - 28:11 (03:51)
The passion economy involves building small businesses around hobbies and interests and some of them require just collecting payments and distributing cash out, which makes for a great business model. Understanding the lucrative long tail of building small businesses is helpful when you come from the industry you are tackling.
Clips
Building a boring business could actually be a good thing as you won't have as much competition and can focus on owning a larger portion of the business while raising money.
24:20 - 25:31 (01:11)
Summary
Building a boring business could actually be a good thing as you won't have as much competition and can focus on owning a larger portion of the business while raising money.
ChapterThe Business Behind Passion Projects
Episode#52 - AI Teachers, Deskless Workforce & The Passion Economy with Zak Kukoff
PodcastMy First Million
The passion economy has a long tail of people building really small businesses, and some of them have a huge margin on collecting payments like GoFundMe.
25:31 - 28:11 (02:40)
Summary
The passion economy has a long tail of people building really small businesses, and some of them have a huge margin on collecting payments like GoFundMe. It's helpful to come from the industry you're tackling to determine which of the gorpy stuff that's not publicly visible makes good business ideas.