BUSINESS IDEA | STARTUP

AI Training for Overseas Talent 🌏

Putting the train in AI

Available Domain: Overskill.ai

1. Problem/Opportunity❓

The Problem/Opportunity: US businesses are turning to overseas talent to reduce their headcount costs. And businesses are emerging to help them find these employees, like Nick Huber’s Somewhere or Jonathan Swanson’s Athena, despite some inevitable pushback.

The key to these businesses is finding high quality employees. And in 2024 the key to being a great employee is being an AI enabled employee. So let’s build a business to upskill these employees.

Market Size: The global business process outsourcing market size was estimated at $261.9 billion in 2022.

2. Solution ✅

The Idea: A business which upskills overseas talent in AI tools to increase their efficiency

How it Works:

• Overseas talent agencies sign up to get their employees trained

• Based on their roles employees are given specific training on tools to help them leverage AI tooling to become more efficient in their day to day work. All of these employees will have great english by definition, so language barriers won’t be an issue

• Given the rate of change in AI, training is continuous and employees are constantly upskilled in the most up-to-date tools

Go-to-market: Work directly with overseas talent businesses to train their staff for them

Business Model: Charge a fee per employee trained

Startup Costs: You should be bale to start this business with a few thousand dollars

3. How You’ll Get Rich 💰

Exit Strategy: The path to riches here is to sell to a business like Fiverr who would use this in upskilling their own freelancers

Exit Multiple: Online education businesses can sell between 5-10x on EBITDA

DRUNK BUSINESS IDEA

Call Scammer Matching App

We’ve all been on the receiving end of a scam phone call. They’re extremely annoying.

Or at least they were, until ScamMatch came along. With ScamMatch when you receive a scam phone call it automatically forwards them on to another scammer to talk to.

Microsoft has very deep pockets to help out the Nigerian Prince. It’s a win-win.

JUST THE TIP

Trend 📈: Lab Grown Diamonds are Taking Over

Diamonds are a girls best friend? Maybe. But lab grown diamonds are definitely an investors’ best friend.

According to diamond research firm Edahn Golan, lab-grown sales shot up 38% from 2021 to 2022. The Google search data shows a similar trend.

They’ve seen increased demand due to the lower price point and the questionable ethics around diamond mining. In order to meet this demand Diamond Foundry has raised $315m to scale up their lab growing efforts.

Business Ideas:

• Diamond Facial Product - create a cheaper diamond facial cleanser

• Diamond Supplier for Heavy Industry - diamonds are used in processes like drilling. Sell them lab grown diamonds to lower their input costs

• Diamond Polishing Business - use cheaper lab grown diamonds to polish real diamonds

THE MONEYSHOT

$0 to $11m in 18 Months Selling Chocolate

What were you doing at 21 years old? Drinking too much? Trying to “find yourself” backpacking through Asia?

Well at 21 Oliver Brocato was running Tabs Chocolate from his college dorm. And just 18 months later he had scaled the business to $11m in revenue.

Oliver began with one simple question.

What’s a business I can build that will go viral?

Well one day while scrolling on Tik Tok he saw a video about a libido enhancing chocolate which had 8 million views from someone without a lot of followers. The product had poor packaging and couldn’t be purchased online. He had his product.

So he created Tabs, a libido enhancing dark chocolate. Now that he had the product, he needed distribution. He decided that Tik Tok was the move, but in a pretty unique way.

He began by working with influencers, but found he spent far too much time outbounding them without much return.

So instead he hired small creators with no followers, put them on a retainer ($2k - $3k per month) and got them to create their own accounts where they would push the product. The first month he tried this strategy out he did $80k in sales.

And Oliver just kept going with this strategy and after just 18 months he had done $11m in revenue.

An incredible story on the power of Tik Tok.

Want to hear Olivers story from himself? He did a 2 hour interview around 12 months ago which you can check out!