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I got a big announcement. It’s very big. I now have a new job. Psych! I had to stop that.
I couldn’t go that far. So, you want to start an online business and you don’t know where to start. You’re wondering what business model you should use. I think that’s the wrong approach. I think you need to look higher than what you should do and look into what you can do. Some of the things you can do, you may not have the money or the positioning or the connections to do it now, but you have to get on the path.
I was working with a client who over three years went from working on a job to building a million-dollar business. Most of that money came in the last 16 months. If they hadn’t started when they did, they would have never gotten to that 16th month where cash is just literally being thrown at them.
One of the problems that messes up a lot of people is they treat their online businesses as if it is going to be a softer version of an offline business. What I mean by that is they think they don’t have to work as hard. You have to work just as hard on your online business as you do on your offline business. That fact is throwing people. People think if it’s on the internet, it’s supposed to be a little bit slippery or easier.
Those days of just throwing up a website and making money on the internet ended a long time ago. You have to be crafty. You have to have a plan. You have to be progressive. You have to really, really think about some stuff. You can make money in virtually any niche if you have the right drive and determination.
It’s going to be real interesting in the next ten years. Many people have a good job. They have six-figure jobs. They are going to find themselves in a position where they have to do something like start a business or take over the company they work at. It’s just going to happen.
People want that job life where they get up in the morning, go to work, clock out and go have fun. It’s going to be real hard and real challenging for many people to have that kind of life when they have economic uncertainty. We live in a time where there are many emerging technologies. If you can be on the path of business development and ownership, you’ll see these technologies before other people. Typically, by the time something makes it down to the public, it could be six months to three years old.
I’ll give you an example. Years ago, there was this article in Inc. magazine. I can’t remember the gentleman’s name. He is the one that created the technology that allows you to touch a phone screen or computer screen and manipulate it. In the article, they were going on and on about how this was going to be revolutionary. It enabled the development of smart phones.
It was a billion-dollar idea. Let’s look at what happened. You have the iPhone. You have the iPad. You have computer with touch screens. It completely revolutionized how we interact with our devices.
Now if you were on the ground floor of that development, you would see they would need people to make glass and produce the technology. There were some many people necessary to launch that technology. If you had gotten in on the ground floor in the first two or three years, you would now be a billionaire.
However, if you weren’t in business and paying attention to business trends, you would not know. When I looked at it, it fascinated me more than it interested me. Based on the five businesses I had that failed, I’ve learned to stop doing stuff for money and do things you really want to do. I may not be passionate about something, but I may be intrigued with it. I’m very intrigued with video. I’m intrigued with storytelling. I have been most of my life. I’m a veracious reader and I love a good story. I’m very much in that lane. It will get me where I want to be.
For those of you who are still on the sidelines, I’m going to say something that’s probably not really popular. You would be better off starting a business now that you may not be jumping up and down with joy over and getting that expertise than waiting for the perfect business you are passionate about. When you do research for your business, invariably you’re going to find out about other advances. You’re going to find out about other things.
It’s just crazy. When you do research for your business, you find out about other businesses and all kinds of stuff. You’ve got to get in the game. You can’t continue to sit on the sideline. You can’t just wait for the right time. Sometimes you have to make the right time.
The big thing that is coming up is robotics or artificial intelligence. If you’re really “techie’ ask yourself what you can do that will be in line with those technologies. In the next ten years, I think you’re going to be able to buy your own robot. You’ll be able to have that in your house. You’ll be able to have an automated servant to do laundry, clean the floors, manipulate stairs, and all kinds of stuff you don’t want to do. It will probably cost $15K to maybe $30K and they’ll last maybe five to ten years.
A lot of people are going to be displaced because of that new technology. If you go ahead and prepare now and start to become part of the technological revolution, because the human element will figure in somehow, then you can position yourself to succeed. I don’t know how the human element will figure into this complete thing. I really don’t know.
I’m a little scared, but I am excited at the same time. It’s a very interesting dynamic. Start looking at what’s coming in the future.
One of the things that kills people is jumping on a trend when it has become pedestrian. You can still make money. You can still do well. But it’s not going to be the same as it is if you get in when it’s raw. When it’s raw is when other people don’t realize the potential. That’s when the opportunities are amazing.
You could become the thought leader. You could become the “Go To” guy when people need answers. That’s amazing stuff.
The future is bright if you choose to make it bright. It really is.
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