In business there are four distinct business models. Just about any business can be identified with one of the four. The following are the four types of business models: 1) Low-Volume, Hi-Margin, 2) Hi-Volume, Hi-Margin, 3) Low-Volume, Low-Margin and 4) Hi-Volume, Low-Margin.
Business models consist of four distinct groups of volume and margin production. They are 1) Low Volume, High Margin; 2) High Volume, High Margin; 3) High Volume, Low-Margin; and 4) Low Volume, Low Margin.
So that’s it, I’m going to go into business for myself. I want to own and operate a business of some sort and make some extra money. Who knows, I could be the next Warren Buffett. At age 27, I’m still young enough to have the energy to do the physical part and mature enough now to know that I need the guidance of others to help me. But what do I do? I need an idea.