What is the criteria of an “Ideal Business”?
Most of my readers know that I prefer real estate investing over owning any business. But I am involved in many businesses such as my real estate syndication, the education company, the tax reduction company, the real estate management company and soon we will be launching a full fledged crowd funding website and portal. In all of my business listed above there is a direct connection to REAL ESTATE. As I analyzed each business I took time to compile a list of criteria for an “Ideal Business”. Please read it and add to it as you see fit in the comments below. Here is my list so far: Unlimited Global Market Product needed by people (a basic human need) Low to no market price resistance Profitable through residual income Unique values not available anywhere else Minimum labor Low overhead Low inventory requirements Low capital cost requirements Low to no credit required No equipment Income in cash (no account receivables) Fewer to no government regulations or intervention No complicated permits or licenses to own or operate Portable – movable or can be handled from anywhere Interesting, fun, intellectually stimulating Truly helps others Compounds over time Frees your time – controlling schedule Several avenues of profit Low taxes (incentives and rebates) Easy to pass on (to loved ones) No direct exchange of unit of time for unit of income Can be systematized for predictable work and returns Can be automated through people and processes Can be leveraged (bank desirable) Can be scaled and expanded through duplication (going public) No special degree or complicated/on going education Can work through different economic cycles (up and down markets) Gives you a great reputation and support from others Again, feel free to add to it in case you feel I missed something. And BTW if you know what kind of business that could be— please share it with everyone you know. The closest I came up with was real estate. Sincerely, Cherif Medawar CEO Founder of the ideal business CrowdFundExpress.com Launching in the 2nd quarter of 2017 Once we get final approval from FINRA and SEC
