After over five years of building my own startups, and the past three helping hundreds of other entrepreneurs, I’m starting to get a good view on where the big opportunities sit in this space.
One of the coolest things we’ve stumbled across while building Pitchblak has been realising that small-medium business owners have a huge opportunity to spin-off a scalable asset (like a software or hardware product).
Business owners often get stuck trading time for money; it’s a hamster wheel with no ‘out’ in sight. Even when you do exit (sell) a services business, the multiples are hardly exciting for all the blood, sweat, and tears that go into building them.
Strangely, very few business owners have realised the massive advantages they have over other entrepreneurs:
– Valuable insights from their experience in the industry
– Connections for distribution and potential investment
– Existing cash flow to cover the costs of creating the asset
– Knowledge of how to run and grow a team
These things are super helpful in building a scalable asset that could sell at a multiple much more lucrative than any typical services business will sell for.
We’ve recently started working with a few business owners on this, and it’s been really rewarding and enjoyable work for myself and the team.
If you own/manage a business and you either (a) have an idea already, or (b) have experience in your field, and you understand the things that are ‘broken’, reach out to us…
– By Adrian Osman – Co-Founder & CEO Pitchblak –