Everybody wants to start a business now, but nobody really knows what they want to do. So here is one thing that you should figure out. Decide if you are more interested in a product business, or a service business. Really... the first thing you should have in mind when starting a business is a solution to a common and real problem. If your solution is a product, great. If it's a service, great. You're in business.  But which business is actually better, or easier, to run? Well of course the answer is neither.  Service businesses are extremely common for startups now because they have a much lower barrier to entry in most cases. What does that mean? It means exactly what you think it does. People want to start a business without spending a whole ton of money, and service businesses are often the better option for that.  However service businesses have their downsides too. They are usually more difficult to scale than product businesses, and sometimes there is a ceiling on your revenue. Cash flow isn't quite as smooth when you are running a service business, but hey, at least you were able to afford to get into the business.  Then there are product businesses. Where you are selling physical, tangible products to your consumer. Although a software company could also be considered a product business since the software is the product.  The deal with product businesses is just the inverse of the service businesses. It will take more of your money up front to formulate, invent, program, or do whatever you need to do to get your product. Then you might have to buy inventory, and once you have your product, there's not really much going back.  The good news with product businesses is that they are much easier to scale, and if you find a product that is selling in the market... you're golden.  So which type of business would you start if you were starting today? Product or Service? --------------- Justin Phillips:  YouTube:  https://www.youtube.com/channel/UC_moctBGU-tfwSANYXl9OCg  Instagram: https://instagram.com/jrpbusiness Facebook: https://facebook.com/jrpbusiness Twitter: https://twitter.com/jjustinrp Website: https://justinrp.net/