What Is the Best Field for an Entrepreneur Looking to Get Rich Quick

Guest Blogger: Said Moshtaghi

There is basically nothing wrong with wanting to make money quickly. I also understand that many hate the question because of the hundreds and thousands of get-rich-quick schemes.

I do however have a huge problem with the definition of this “common” problem the money-mindset of entrepreneurship. Let me tell you why.

Entrepreneurship is about solving problems. It’s about understanding what problems the market has and find a solution for that problem. The main goal is to create satisfied clients. If you have satisfied client’s you’ll most definitely get rich.

Why can’t you just focus on the money? Well there’s a huge problem with that kind of mindset. If your main goal is to make money, well every decision you make will be based on that—and you’ll make decisions that will earn you more money.

That might mean that:

  • You will lower the standard of your product or solution just to have better margins.
  • You focus on getting the maximum amount of money from every client with little or no regard for what the client really needs even if it might mean a cheaper alternative.
  • You might bend the truth so you wouldn’t lose the client and therefore your own revenue.

These are just some examples. There are many more. The focus should instead be on creating satisfied clients. That means that you base every decision on what could benefit the client the most.

Sometimes that could mean that you offer a cheaper service. Sometimes it’s actually the opposite—the client would benefit from a more expensive service.

Some people misunderstand this concept and do whatever the clients want—without charging them. Just because you help clients out doesn’t mean that you have to go broke doing that. Most often you can charge more than usual, because you offer superior value.

I’m fully aware that this might not have been the answer you were looking for, but in my experience, this question gets asked from people that are just starting out with entrepreneurship. And I’ve soon too many first time or beginner entrepreneurs fall down the shaft, just because they misunderstand the money/clients-concept.

To give at least some real input to your original question:

You should start with your own interests and strengths. Especially if you are a first time or beginner entrepreneur. Why? Well, if you are going outside your own knowledge and strengths area, you will most probably need to hire people or outsource the work. Considering the fact that most beginners will make 742 mistakes in their first business, it might be better to start by yourself.

Once you have identified your strengths and interests, make sure you find a problem in the market. It does not have to be something original. It could be setting up social media for small businesses, it could be logo design, or mystery shopping. It doesn’t matter, just find the problem in the market.

Now comes the important part. To be able to make money quickly, you need a third element. Differentiation. Let’s play with the thought that you are a web designer. Great, but wait a minute. What separates you from your competitors?

Being just a web designer means that you are “just” a single threat. However, if you know web design and graphic design, well then you are a double threat. Being a double threat not increases the demand for your services, but also makes you more money.

And let’s say that you also learn basic sales, well then you’re a triple threat. Can you imagine what a difference it does to your bottom line? I’ve used this very technique with one of my businesses at websites that gets you more clients. Do note that it’s not enough to just have these attributes, you actually need to provide great value as well.

Said Moshtaghi

Read Said Moshtaghi’s answer to “What is the Best Field for an Entrepreneur Looking to Get Rich Quick?” on Quora.

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