A lot of people look forward to starting their own businesses and having their dollar work for them so here are some Businesses to Start in 2022!. Some are already in business, but they would go for new ideas if they would only go back in time. What are some of the interesting business ideas entrepreneurs can go for?
In this episode, we get to share our current businesses, and if we were to start over, could we still pick a different business or stick to the same business? Besides, based on our experience, what can we do differently now?
If you are looking for some interesting business ideas and books to guide you through it, this is for you!
Finding your niche as an entrepreneur can be challenging. You might already have an established business, but you could do things differently looking back. You probably have new ideas or are looking for interesting ideas to get that dollar to work for you.
Tune in to this episode and listen to some powerful insights about business, favorite books on business, and what we would do differently if we were to start over again. Besides, what interesting business ideas would we go for. Find out more on this episode!
In this episode
[00:30] What’s trending
[05:32] About NFT’s and Crypto
[09:13] Palatin stocks
[11:34] Quotes on businesses
[13:22] Recap on our mastermind group event
[24:59] Favorite books about owning businesses
[30:46] Inflation – how it is affecting businesses and pay raises
[35:01] If we were to start over again, what businesses sound interesting, and what would we do differently?
Powerful Quotes
- Influencers can do more for a company than a sports athlete can right now. They can make a thirty seconds TikTok right now and sell it for 250 grand for it.
- You have to build a business around your business brand
- It’s always easier to slow someone down than speed them up.
- A player wants A players around, B players want C players around so they can look like the shining star.
- In order to stay in business, you have to keep up with market trends. You have to be ahead of the market trends.
- If you can’t do something for five days in a row, why do you expect to have a reward?
- Daily consistent efforts eventually will compound and pay off.
- There is a lot of money in anything service-based.
Quotes on business
- In the business world, everyone is paid in two coins, cash, and experience. Take the experience first, and cash will come later.
For people who are a little further in their career, maybe you are in college or just graduated, you can intern somewhere for a free or stipend. Pick someone’s brain and learn more about whatever you want to become good at. Once you gain the experience, money will follow later.
- Formal education will make you a living. Self-education will make you a fortune.
Starting a business is the start of true self-education. You are learning every day, it’s a rollercoaster with ups and downs, and you have to be ahead of all the market trends.
- Success seems to be connected with action. Successful people keep moving, they make mistakes, but they do not quit.
The compounding effect
If you want to start a business, put one hour or day into the course, and it will eventually compound over time. If you can’t do something for five days in a row, why would you expect to have a reward?
“ Daily consistent efforts eventually will compound and pay off.”
Once you put consistent effort while starting your business, it will be super impactful. Attack the process with your efforts. Identify your good habits and do them every single day.
The Built to Sell Book
The Built to Sell book is one of the best books when it comes to starting a business. It expounds on the difference between creating a job for yourself and being an entrepreneur is creating something scalable and saleable. Even if you do not intend to sell the business, put those processes in place so that other people are working in your business and you are working on your business. That is, you are worried about the strategies and scaling. This, in turn, allows you to build multiple streams of income, and you won’t have to rely on one stream.
Inflation, how it is affecting businesses and pay raises
With 6% inflation, the dollar will not get stronger in the next five years. The pandemic forced most businesses to shut down and some people to lose their jobs. Despite the high inflation, most businesses can only manage a 3% pay rise.
Interesting Business Ideas
Property investment
Once you invest in property, you let the dollar work for you instead of putting all the work in yourself, and besides, you get to have more time for yourself.
Service-based Business
Investing in a recession-proof business such as heating and cooling, trash services, and cleaning services is a lucrative idea because people will always need such services.
“There is a lot of money in anything service-based.”
Businesses that can’t be automated
Investing in businesses that can not be automated, such as recruiting, is also a lucrative idea.
Real Estate
Investing in real estate is lucrative since there will always be a need for people to live, and we are not creating more land.
“90% of millionaires are made from real estate, and there will always be a need for people to live.”
Private Equity
Private Equity is an alternative to public financing to invest in companies or engage in buyouts. You end up making money by charging management and performance fees. Besides, watching start-up companies grow, being a part of them, watching them grow as someone else runs the business makes it a good business idea.
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