Business Ideas That Make Money
Eben Pagan breaks down five profitable business ideas that create real value by solving urgent customer problems. He contrasts these pain-solving opportunities with the 'fun idea' businesses that most people try to start.
Teachings 6
Successful businesses solve urgent customer problems rather than combining fun ideas
Mobile windshield repair evolved from $50-100 fixes to $400 laptop screen replacements. Both address immediate pain points versus 'fun' concepts like hair salons with iTunes music bars.
Mobile repair services create massive value by bringing solutions to customers instead of requiring shop visits
Windshield repair saves customers from $400-1000 replacement costs and days in the shop, delivering results in 30 minutes for $50-100. Laptop screen repair prevents $2000 new computer purchases, fixing screens for $400 in one hour.
Virtual technical support addresses computer problems that completely stop customer productivity
Monthly subscription model where customers get human support without 27-hour hold times. Advanced services take control of computers remotely to fix problems instantly via high-speed internet.
Personal coaching in mega-niches like health, weight loss, relationships, and debt represents huge scalable opportunities
Life coaches charge $100-200+ per session. What was once strange is now mainstream - everyone either has a coach or knows someone who hired one. Focuses on problem-oriented coaching around major life pain points.
Quote aggregation websites create billions in value by organizing data from multiple providers
Kayak, Expedia, Travelocity for travel; LendingTree, LowerMyBills for loans; insurance quote sites. These don't provide services themselves but aggregate data to help customers research and solve problems.
All profitable business ideas share common elements: big market opportunity, high value creation, pain/urgency focus, and scalability
The five examples (windshield repair, laptop repair, virtual tech support, personal coaching, quote aggregation) all address immediate customer obstacles that prevent life progress, versus fun combinations like hair salon iTunes bars.
Quotable Moments 3
“putting two ideas that you know people like to do together does not a business make”
— Eben Pagan“figuring out where someone has pain an urgency or a problem and then coming up with a solution in the form of a product or a service and uh and then marketing and promoting that solution so that you get customers and then giving those customers a lot of value that's what ultimately makes money”
— Eben Pagan“there's somebody who's trying to get something done or who's running into a problem and solving that problem or getting a solution gives them a lot of benefit and there's a lot of focus here on pain and urgency”
— Eben Pagan
How to identify profitable business opportunities
A framework for finding business ideas that create real value and generate revenue
- 1
Find customer pain points
Look for situations where people face urgent problems that stop their progress and need immediate solutions
- 2
Assess market size
Focus on big opportunities in mega-niches like health, relationships, technology, and major purchases
- 3
Design value creation
Create solutions that save customers significant money, time, or frustration compared to existing alternatives
- 4
Build for scalability
Structure the business so you can hire others to deliver the service while you focus on marketing and systems
- 5
Avoid fun combinations
Resist the urge to combine unrelated ideas that sound creative but don't address real customer problems
Questions Answered
What makes a business idea profitable
“figuring out where someone has pain an urgency or a problem and then coming up with a solution in the form of a product or a service and uh and then marketing and promoting that solution so that you get customers and then giving those customers a lot of value that's what ultimately makes money”
— Eben Pagan▶ 10:22
Profitable business ideas solve urgent customer problems where people face real obstacles. They create high value, address pain and urgency, and can be scaled with other people doing the work.
How much do mobile repair services charge
“instead of having to spend $2,000 on a new Macbook Pro computer you get the whole thing done for 400 bucks”
— Eben Pagan▶ 6:08
Mobile windshield repair typically charges $50-100 for 30-minute fixes that prevent $400-1000 windshield replacements. Mobile laptop screen repair charges around $400 for one-hour fixes that prevent $2000 new computer purchases.
What are examples of scalable service businesses
“I also like this because it's uh it's what they call scalable right this is another thing where you can hire other people to do this and then what you're really doing is creating the product or service and doing the marketing”
— Eben Pagan▶ 5:43
Virtual technical support with monthly subscriptions, personal coaching in mega-niches like health and relationships, quote aggregation websites, and mobile repair services that can hire subcontractors to do the actual work.
Why do most business ideas fail
“putting two ideas that you know people like to do together does not a business make okay”
— Eben Pagan▶ 10:22
Most people try to combine fun ideas or things they think sound interesting, rather than identifying real customer pain points that need urgent solutions. They brainstorm creative combinations instead of solving actual problems.
How much do personal coaches charge per session
“life coaches you know often charge a hundred to $200 a session or more”
— Eben Pagan▶ 6:46
Personal coaches typically charge $100-200+ per session, especially for problem-oriented coaching in major areas like health, weight loss, relationships, dating, and debt management.
Summary
Mobile Repair Services: From Windshields to Laptops
Eben traces the evolution from mobile windshield repair ($50-100 fixes) to laptop screen replacement ($400 repairs vs $2000 new computers). Both address urgent customer problems with convenient, cost-effective solutions that can be scaled through subcontractors.
Virtual Services and Personal Coaching Opportunities
Virtual technical support creates recurring revenue through monthly subscriptions while solving computer problems that completely stop productivity. Personal coaching in mega-niches like health and relationships commands $100-200+ per session as mainstream acceptance grows.
The Pain-Solving Business Formula vs Fun Ideas
Successful businesses focus on customer pain and urgency rather than creative combinations of fun concepts. Eben contrasts profitable opportunities that address real obstacles with typical failed ideas like hair salons with iTunes music bars.
Counterpoint
Claim: “Good businesses combine fun ideas or things people like to do”
Reframe: Profitable businesses solve urgent customer problems where people face real obstacles
Hair salon with iTunes music bar sounds fun but doesn't address pain. Mobile windshield repair addresses immediate $400-1000 problem with 30-minute solution.
Claim: “Business ideas should be brainstormed creative combinations”
Reframe: Business ideas should identify where customers have pain, urgency, and can't move forward until solved
Successful businesses like virtual tech support and personal coaching target moments when customers are completely stuck and need immediate solutions.
Key Points 6
Successful businesses solve urgent customer problems rather than combining fun ideas
▶ 0:31Mobile repair services create massive value by bringing solutions to customers instead of requiring shop visits
▶ 1:01Virtual technical support addresses computer problems that completely stop customer productivity
▶ 5:11Personal coaching in mega-niches like health, weight loss, relationships, and debt represents huge scalable opportunities
▶ 6:15Quote aggregation websites create billions in value by organizing data from multiple providers
▶ 7:17All profitable business ideas share common elements: big market opportunity, high value creation, pain/urgency focus, and scalability
▶ 8:51Topics
Coaching Strategies
Business Frameworks
Common Mistakes