Mark Twain said “When everyone is looking for gold, it’s a good time to be in the pick and shovel business.”
This is really good advice. Any time you are presented with a money making opportunity, think before you jump in. What other opportunities are there?
Take a look at Levi’s jeans. At a time when America was having a gold rush, many people sold everything, bought mining equipment and went panning for gold. Levi Strauss however, were supplying tough canvas pants to the gold miners as normal pants did not last the tough conditions.
After canvas was found to be uncomfortable, Levi Strauss used denim instead. The Gold Rush has long passed but Levi’s is now an international brand, still bringing in millions.
Here is an example of a simple business idea
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