Hey Dan. I am 45 and my core skill is people. I can talk to literally anyone and build trust/relationships. It’s what I do best and without trying to sound to cocky, I’m really good at it. How does one transfer a soft skill like that into an online business that can scale?
I like investing in close-end funds that pay monthly dividends. The trick is to hold long term and reinvest the monthly dividends plus buy more shares on a monthly basis or whenever you can afford to. This can be easily done because close-end funds are bought and sold on the stock market just like regular stock. That'd be enough to create a portfolio that would pay you between $50k to $70k in dividend income
Just because there are opportunities in the market doesn't mean you should go in blindly. To understand the potential factors that contribute to your financial growth, l'il advise you to seek the help of a professional
I completely agree; I am over 40 years old, recently retired, and have approximately $1m in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
@@maryHenokNftI actually subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?
The decision on when to pick an Adviser is a very personal one. I take guidance from *Gertrude Margaret Quinto* to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 350%, since covid-outbreak to date, summing up nearly $1m.
“Lucinda Margaret Crist” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
As a beginner investor, it's essential for you to have a mentor to keep you accountable. Gillian Sara sheeran is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
Same here all thanks to Gillian Sara sheeran, she has always been there to guide me through with detailed analysis and recommendations that I wouldn't have access to otherwise.
Ma'am Gillian Sara sheeran is considered a key Crypto Strategist with one of the best copy Trading Portfolios and also very active in the cryptocurrency space.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
I'm curious, for someone with less than $80,000 to invest, how would you recommend we enter the market? I am open to study some traders and copy their strategy rather than investing myself and losing money emotionally. What's your take on this approach?
Knowledgeable Investors know where and how to invest their money to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
De-risk your portfolios, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a fiduciary financial advisor to guide you, that’s what works for my wife and I. It's been 6 years now and we've grown our portfolio to $1m.
That is just amazing. I've attempted to employ a financial advisor by doing some research on my own, but it's somewhat daunting. Would you kindly refer the people you work with?
"Amber Michelle Smith" has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
1. Product business is one option, with emphasis on pre-selling, direct-to-consumer approach, and investing in building a brand. 2. Agency or service business is another viable option, focusing on identifying strong market pain, productizing services, emphasizing recurring revenue, and scaling with systems. 3. Coaching business, including consulting and online training, offers high margins (70-80%), with an emphasis on selling expertise, educational-based marketing, and building a community. 4. Software business boasts the highest gross margins (80-90%), emphasizing the importance of a sticky product, targeting boring industries, optimizing first-time user experience, and prioritizing customer retention for long-term success.
*I didn't become financially independent until I was in my late 40's, and I'm still in my 40's. In addition to having purchased my second home and earning money on a monthly basis through passive income, I've also achieved three out of five goals. I just hope this inspires someone to realize that it doesn't matter if you don't have any of these things yet, you can start today no matter your age. Change your future by investing! I made a rather big decision by investing in the financial market.*
Investing in many sources of income that are independent on government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Stocks, forex, and digital currencies are still good investments at this time.
Sure, investing is essential for maintaining your financial stability, but making any kind of legitimate investment without the correct advice of a professional can result in a significant loss as well.
It's really not easy investing or trading the financial market. I read a lot of books, tried to study, watch some tutorial videos, did a little demo before funding my account and I still lost a lot. The financial market could be very tricky
I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. hence I will suggest you get yourself a financial-Advisor that can provide you with entry and exit points on best stocks to buy now or put on a watchlist.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
Lovely video Dan, In order to maximize the growth of my $400k portfolio during the upcoming bull market, I am actively looking for new ways to invest and diversify it. Any suggestions?
You’re right Jean. Since I made some huge loses early last year, I have been working with a seasoned professional advisor for the past eight months now, and it’s been an amazing experience both financially and psychologically
He’s the licensed fiduciary I work with. Just look his names up on your search engines and you’ll get the necessary details you need to set up an appointment with him. Cheers!
I've been in the software business for over 30 years and while creating and selling software is a great business model, the support costs should not be left out. No software is ever finished and will always require support.
We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
*Izella Annette Anderson* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Your dedication, enthusiasm, and insight are shown in your work. Keep on doing great works like this, and there’s no looking back for you! The way you gracefully pulled off the work - I am so proud of you. BsnsFunding , Thanks for going through all the hassle and making them worth it. Congrats and best wishes for a promising future.
Attempted an online grocery store and learned the margin lesson the hard way given the cost of onboarding a first time buyer and overall profit margins.
DAN , I'M SO HAPPY I STUMBLED ONTO YOUR CHANNEL, I REALLY ENJOY YOUR BUSINESS TALKS, YOU'RE THE KIND OF HUMANS I NEED TO BE SORROUNDED BY , SO MUCH TO LEARN FROM.
The coaching was speaking to me. Giving free coaching forever so I’ve been working on my money mindset to be comfortable getting paid. It’s time. People are waiting to be radically transformed. Loved your interview with Tony Robbins talking about the Holy Grail of Investing. Wonderful!
In 2024, tech-related businesses, sustainable ventures, and those catering to remote work trends seem promising. That is the reason why I loved the last point, videos like this makes the effort to find the correct Bussiness worth
issue with presale. you actually need money to build a successful kickstarter campaign. you can use that to do a moq. or do a mockup and fake to run traffic. then refund if roas are good
This is absolute gold! Thanks Dan. A real insight into what a very sharp business mind focuses on, and then you lay it out so succinctly. Also for me, the third point in software about First Time User Experience really connected. For what it's worth, Leila Hormozi does a great video on the importance of getting customers to that activation point where they are hooked into the product, because the product is now doing what it was advertising it would do for the customer. You just give one of the best examples here.
Question for you, or anyone. I am 45 and my core skill is people. I can talk to literally anyone and build trust/relationships. It’s what I do best. How does one transfer a soft skill like that into an online business that can scale?
Absolutely, I completely agree! The service industry is appealing because it allows us to leverage our knowledge for top dollar. Thank you for the important reminder about the significance of high margins. Indeed, attempting to undercut competitors by lowering prices right from the start only serves to diminish margins. I believe the smart approach is to actively engage in these industries while also strategically investing capital in the other high-margin opportunities mentioned. Thank you, Dan, for your insightful research and hard work.
Hello friend, how are you? My name is Mazinho, I'm from Brazil and I'm looking for business ideas on the internet to make money! I would like to know business ideas that work in the USA so I can do it here in Brazi! Would you help me?
I don't know which business to start for 8 year, i had a highly successful staffing agency in toronto canada, which dealt with manufacturing, but this is a dying industry, and i want to dedicate myself to something big. Can you tell me what business in what niche to start, I made a multi million dollar exit and don't want to reeneter the same market due to various reasons.
A Friend told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. is this a good way to potentially grow my retirement savings to about $3M over time?
The best course of action if you lack the knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the stock market and grow my portfolio to about 65%, I believe that is the most effective way to enter the business at the moment.
'Heather Lee Larioni' is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I’m trying to get out of the trucking business. I’m looking to sell both my trailers and 1 truck and should have $100k. I need to know what to invest in
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At 44 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I’m forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be paid off next month! 🥳 It’s never too late to start saving like there’s no tomorrow, and I’m really REALLY excited and motivated. Oh and TODAY, fyi my emergency fund is also a done deal! by BsnsFunding lol, I didn’t make it myself.
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00:01 Start businesses with high gross margin and high dollar amount sales 01:26 Pre-sell for product validation, go direct to consumer, invest in brand 02:48 Focus on key factors for business scalability. 04:10 Start a recurring revenue service for ongoing income. 05:31 Becoming a successful coach requires mastering the art of selling your expertise. 06:51 Build audience through teaching and sharing knowledge. 08:21 Key points for successful software businesses 09:41 Focus on user activation and retention for successful software businesses Crafted by Merlin AI.
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Software business (SaaS) are the way to go nowadays, imo. It comes with an investment upfront. However, when you do this step by step (MVP, valididate in the market, make the first sales, etc.) it can be bootstrapped or you can find an investor to support you.
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Dan, what is your investment strategy for early stage deeptech products? Do you neglect them before commercialization? Did you ever invested in product companies before revenue? Thanks.
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Great insights on choosing the right business to start. For entrepreneurs, understanding the concept of 'product-market fit' is crucial. It's about creating a product that solves a real problem for a specific set of customers who are reachable.
A lot of value packed In this video. Having discovered you today the joy is in the discovery and the transformation at the transaction. If you can master the implementation 💎👌
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Mannnn. Thanks a lot Dan. I listened to a podcast you did with Matt Gray couple months ago, and oh boy that lit a fire under my bottom. You're a God sent and we can tell you obeyed your God calling. Thanks again Dan. P.S. Taylor A Welch spoke very highly of you in one of his podcast with Ryan Pineda. Specially about those muscles😂
For software I would recommend to diversify your knowledge, "Onboarding specialist" is laughably thin area to specialize. If you look at real software consultants, they have absolutely enormous range of skillsets. Offcourse when the client says they want an "onboarding specialist", you say that "I have been doing onboarding UI for the last 10 years" which is technically not a lie, but it is one among 20 other things you have been doing in the last 10 years. In the current job market, you need to be an entire IT department in one man.
What total click bait… I mean, you found the best businesses for 2024? Based on what you listed, how was this any different for 2023? And how is it going to be different for 2025??? Kindergarten economy stuff…
Hello hi my name Omar Ahmad I would love have you as a coach soon and I’m Canadian American and lived there for 13-16 years and grew up there and phenomenal video ❤😂🎉😊
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Anything over 20% margins in a restaurant biz is unheard of. Cost of food is so high, good quality food restaurants are gonna become a thing of the past. It’s impossible to make money unless you sell junk.
im pretty good at business. You making a very good video. Its seems intense but so basic as all business people think the same its logical but needs teaching to those who have sometimes dont get the way alot of this is not taught anywhere so they need the basics. Top job my friend
im in pharm by the way its in demand overpriced and generics make 600% to 1000% profit. Its not for everyone but im helping alot of people and getting the life i wanted. I was into alot of other things all successful but i found this industry is profit and flex i need in my life. Im asleep i made 50k oh thanks. Im not in the office for 6 years just a laptop is enough u can be anywhere in the world. Life freedom money. Even Elon dont have that after year 1.
too late everything is saturated and anyone giving out secrets is full of BS. Nobody will reveal a source of income if the business is making money. They'll guard it with their life.
Unfortunately, the world isn’t as it is, it’s as YOU are. This will always be your reality. Not mine. YT is how I learn to code and build companies. So obviously disagree. No market is so saturated that someone willing to dedicate themselves can’t win. It’s just that most won’t. They’ll give up.
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🎯 Key Takeaways for quick navigation: 00:00 📈 *High gross margin is key in businesses; aim for 70-90%.* 01:48 💼 *Strategies for successful product businesses: pre-sell, go direct to consumer, invest in branding.* 02:30 🚀 *Agency or service businesses thrive by focusing on market pain, productizing services, securing recurring revenue, and scaling with systems.* 05:05 👩🏫 *Coaching or consulting businesses require expertise in selling, sharing strategies openly, building community, and offering ongoing support.* 07:51 💻 *Software businesses excel with sticky products, targeting boring industries, optimizing first-time user experience, and prioritizing customer retention.* Made with HARPA AI
Incredible! This is a masterpiece of content. I recently read a similar book, and it was absolutely phenomenal. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
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🎯 Key Takeaways for quick navigation: 00:00 *💼 Great businesses have high gross margins, ideally 70-90%.* 01:20 *🤖 For a successful product business, focus on pre-selling, direct-to-consumer sales, and building a strong brand.* 02:44 *🛡️ Agencies or service businesses thrive by addressing market pain, productising services, focusing on recurring revenue, and scaling with systems.* 05:47 *💼 Coaching or consulting businesses require selling expertise, sharing knowledge freely, and building a supportive community.* 08:33 *🤖 Successful software businesses prioritise building a sticky product, targeting boring industries, perfecting the first-time user experience, and emphasizing customer retention.*
Norman Vitalii provides cutting-edge solutions that yield tangible results. Their deep industry knowledge and personalized approach have been instrumental in our achieving significant financial growth and success. With Norman's expert guidance, our profitability has soared, reinforcing our trust in their ability to consistently deliver exceptional outcomes.
