If you don’t want to read it, you can watch this video.
For beginners trying to decide what they should do, it is hard because there is so much noise out here. There are a lot of people giving advice on their channel who come across so well and it is easy to believe in them and take their advice. The problem is you don’t know their backstory or about their affiliations. So, when you don’t get the same results, you don’t understand why. Some internet marketers get business through joint ventures.
What happens is you’ll take their course with the belief that they made their money that way and it’s not the case. They aren’t lying. They are just leaving out some very important steps. A lot of people are getting lost because they don’t understand this. People are getting partial information. People don’t know who to trust.
One of the reasons I redid the channel is because it was going to break on its own because of these new YouTube policies and procedures and algorithms are rough. If you’re not giving YouTube what they want, they have no use for you. Once again, all third-party platforms behave the same way. They have to. Based on that, I’m creating different channels. I’m creating new products and services for different people. This is completely new stuff.
This channel is going to be all about making money without a job. I feel the best way to do that is with a business. I’m going to bring on different guests. There’s going to be different content.
People get hung up on worrying about saturation. Stop worrying about that. If you build something great, there is always room for that business in the marketplace. A good example is a company named Elite Daily who built a website in 2012 from scratch and sold it for $50 million in 2014. You are going to get more money by making something new and different than following the well beaten path. You have to ask yourself, do you want to be okay or spectacular.
The beginners online are the group that is taken advantage of. You don’t know what you don’t know. One of the things that gets me in trouble is I’m too honest. I will tell you the truth.
If you don’t have a business, it’s going to take you two to five years to get it started. People don’t want to hear that. They want to hear about overnight success.
People want me to talk about stocks. I have a really simple investment plan. Make a lot of money and live on less than you’re making. It’s worked well for me. I know people who have earned their way to a $5, $6, $7, $10 million liquid position.
I’ve got a rule I write about in my new book that says you can never do the right thing with the wrong people. One of the reasons I revamped the channel is it was drawing a lot of the wrong people. That I was one me, so I had to spend three months revamping stuff.
I can get someone who has never heard of me come to this channel and watch 10 or 12 videos, buy a course and then kill it. Some people have been here three, four or five years who won’t buy anything and plan instead to keep getting my free information. The people who spend $100, $200 or $2000 on a course are going to be a lot further along in three to six months than you are in three or four years waiting for the free information.
Let’s talk about risk. Risk is taking an educated gamble and you don’t know if it’s going to work out. That’s risk. You have low risk and you have high risk.
You shouldn’t quit your job until it is costing you money. I never tell people to quit their job. You need to build a scalable side hustle to make some money, until you can leverage it into something much bigger later on.
You can start that small business now that might makes maybe $60 to $100K and then take that experience and start something much larger. Like the guy that sold Elite Daily for $50 million. He didn’t just start from having a job and start that, selling it two years later for $50 million. He had several businesses before that one. People don’t want to hear that. They want to hit that home run first.
One of the things I’ve come to understand is that everything isn’t for everybody. If you find this channel, then it was meant for you. You showed up.
Lok how I got into this. It was 2009. I didn’t know what I was doing. I had my eBook. I did well. Now, one of the reasons I can sell information is I’ve had a lot of businesses. I failed a lot, so that’s one of the reasons it works.
It’s part of my goal of wanting to be in communication. This was the plan in 2009. I started this channel. My goal was to make $50K then to sell the real book to a publisher and become a world-renowned author.
When I got into it and started to hang around with writers and we started to discuss brass tacks to bricks, I found out I was making more money than they were selling one twentieth or maybe one-hundredth of the books. This is the business lesson here for somebody who wants to write a book. If you want to make money and get on the speaking circuit, traditional publishing will get you there. If you want to make money from selling your book, then self-publish it.
I am very bullish on YouTube. I’m very bullish on video. I’m very bullish on digital marketing. Recently I went to a seminar and had my mind blown. There is so much out there, it is ridiculous. The people who are doing it are never coming on YouTube. They’re not giving away their secrets.
In the future, there will be the rich and the poor. There will not be any middle class. That’s where we are and it’s going to become even more pronounced in the future.
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