Copying proven business models in niche markets builds long-term compounding wealth
Alex Lieberman · How to Get Rich (Without Getting Lucky) · Jan 31, 2024 · at 7:42
Alex Lieberman, co-founder of Morning Brew, shares his 3-step framework for founders to build long-term compounding businesses.
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“My view is there's a three-step thought experiment that I think most people should go through To think about building wealth through a business over the long term. First question, you should ask yourself an answer. What are my one to two unique skill sets that I'll never delegate from myself? Second, what are the one to two niches that I know more than most people about? This could be email newsletters. It could be customer success in B to B SaaS. It could be wedding planning. What is your thing? And finally, what is a business in that niche that you answered in question two That has already proven success and product market fit that you can recreate over a decade or two and add your own unique spin or value to. To me, that is the best way to have the interest and the idea that will allow you to build something that compounds over 10 plus years.”
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