I Tried 20 Business Ideas. These 3 Made Me Rich.

I've started over 20 businesses over the last twenty five years, and only three of them made me wealthy. Not because I got smarter, it definitely ain't because I worked harder, but because I stopped choosing the wrong type of business. The irony is is that the three businesses that paid me the most were actually less stressful and more predictable and, frankly, almost boring. Today, I'm gonna give you the shortcut I wish I had twenty five years ago, the only three business models that actually are worth your time. Welcome back to the $100 MBA show. I'm your host, Omar Zdenholm, where I deliver practical business lessons three times a week, Monday, Wednesday, and Friday to help you start, grow, and scale your business. If this show has helped in any way, it would be amazing if you could drop us a quick review on whatever app you're using to listen to this podcast right now. It helps me and my team bring new episodes every week and more importantly, more entrepreneurs will be able to discover our podcast so you can help someone else start their journey. Thanks so much. Business number one, a premium service business. This was my first real breakthrough and it sounds boring which is exactly the point. This is why it works. A premium service business means that you're solving a specific painful problem for a specific type of client at a high price point. Not cheap and cheerful, not anyone with a pulse. Okay? Premium. My early failures, I tried to do everything for everyone and that is a recipe for disaster. I tried to build websites and logos and copy and do marketing for them. I did low prices, high stress, endless revisions, and then something clicked. When I raised my prices and narrowed my focus, everything changed. I got better clients. I had better conversions and conversations with my clients. I had better margins, which allowed me to keep more money. And the whole thing was just almost like night and day. Like, all of a sudden, I was like, wow. This is what businesses should be like. And here's the secret most people miss. High prices don't scare off good clients. Confusion does. Actually, high prices attracts a lot of great clients, the best clients you can find. When someone understands exactly what you do and who it's for and why it matters, price becomes really secondary. Premium services really work because you are cash flow immediate. You make profit immediately. Right? You learn fast about how to improve your product or your service. And most of all, you build confidence and skills quickly because you have some money to invest in your skills and gain some confidence. And that's the whole key. If you're not making enough money to reinvest in yourself and your business, it's very hard for you to grow and scale. This business didn't just make money. It taught me how value actually works. …