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JordanK

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One of the biggest issues I have noticed with those looking to start a business and become entrepreneurs in this day and age is the fact that those with online businesses scream the loudest. If you are a young dude/girl growing up having spent most of your life with a small amount or very little money the most readily available insight into the lives of the rich now comes from social media. I know myself that this was an issue I struggled with for a very long time. While objectively I knew that there were rich people in a wide majority of industries the only insights I had ever seen was from people who made money on the internet and wanted to teach me how to do it. There were no big examples in my life of those who went about it through B2B methods or with brick and mortar businesses. The one thing that gave me the belief that I too could become successful was seeing others around my age and from similar circumstances rise from nothing to something... but it was all through social media/internet businesses.

My plea today is to other young entrepreneurs out there who are only beginning on their journey. Don't discount the power of getting involved in the unsexy industries. There is money to be made there and often times it can eventually lead to the promised land of passive income which everyone seems to crave.

Work hard, find someone to follow, don't ask them how you can provide value to them, instead figure it out yourself and then deliver for them even if it means doing grunt work which doesn't scale.. BE RELIABLE.. Figure things out as you go along and eventually people within your network will bring you golden opportunities. Many big business people have plenty of opportunities that they can no longer take advantage of due to time constraints, the fact that they have leveled up and can make even more money with bigger opportunities. FILL THE GAP FOR THEM. It doesn't matter what education you have, if you went to college etc.. what matters is are you reliable, can you be trusted and have you done the ground work to be able to take advantage of opportunities when they come.
 

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PizzaOnTheRoof

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Some of the biggest industries in the world that account for TRILLIONS off GDP dollars have little to zero online presence.

Ironically, these are some of the hardest to break into with the highest barriers to entry...

Real estate, energy, health, government, finance, insurance, etc...

Many millionaires and billionaires will be made by bringing old industries online.
 

MJ DeMarco

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Don't discount the power of getting involved in the unsexy industries.
I find myself saying this more and more everyday. If a guru is selling you on how to start a business in X industry, it's probably not a place you want to be. Many of the new opps I see right now are in hardlines.
 
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JordanK

JordanK

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Some of the biggest industries in the world that account for TRILLIONS off GDP dollars have little to zero online presence.

Ironically, these are some of the hardest to break into with the highest barriers to entry...

Real estate, energy, health, government, finance, insurance, etc...

Many millionaires and billionaires will be made by bringing old industries online.
I think many if not all of the big industries are already disrupted or are in the process of being changed by technology. The early days of the internet are well and truly over but I will admit that the opportunity to do even more will always still exist as tech continues evolving.

I find myself saying this more and more everyday. If a guru is selling you on how to start a business in X industry, it's probably not a place you want to be. Many of the new opps I see right now are in hardlines.
The fact that so many people are trying their ‘cut and paste’ formula’s also serve to work against genuine hard working and smart people operating within these industries. It can also start a race to the bottom price wise, but as always.. even in these saturated markets if you can prove that you can deliver high value there will still be business for you to capture.
 

MJ DeMarco

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It can also start a race to the bottom price wise, but as always..
Yes, and it then also becomes a one-dimensional value skew where essentially everyone is selling the EXACT SAME THING ... the only difference between who comes out on top and who loses is marketing. Marketing becomes the value skew.
 
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JordanK

JordanK

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One thing that I have noticed in regards to marketing is that while many of us on here talk about the more technical minded individuals who have difficulties connecting with business owners and expressing how they can help them in a proper way.

There are also many individuals who are extremely talented in discovering pain points and selling a solution.. but one that's subpar or they promise more than they can achieve. They know how to butter up clients and tell them what they want to hear. I have come across this type of individual a lot more lately, they feel bad disappointing you so they don't tell you the truth or 'the whole story' only for you to find out WAY down the road that things aren't progressing as you wanted them to and its more difficult to chop and change things to get them back on course. JUST TELL IT AS IT IS PLEASE! I wont be offended and I'd respect you more for acknowledging you don't know how to do something.

Strangely though my bullshit meter has been getting more and more fine tuned as I begin making bigger decisions in my business. After you get burned in this scenario you realize that everyone who's like this leave very similar subtle clues in the beginning. i.e Difficulties contacting them quickly but when they want something everything is quick, constant rescheduling or 'emergencies' popping up, reluctant to talk about money/price until the crucial moment etc..
 

Martin Boeddeker

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@JordanK

What you describe here is definitely the case.

Lot's of people get drawn into online marketing which is super competitive but it's where the attention is right now.

Do you have any examples for entrepreneurs from "unsexy" industries that build a successful business in let's say the last 2-5 years that you admire?

I'm currently creating an online summit for entrepreneurs and already have quite a few online marketing gurus that agreed to speak, but it's harder for me to identify people from other industries.
 

Matt Hunt

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The fact that so many people are trying their ‘cut and paste’ formula’s also serve to work against genuine hard working and smart people operating within these industries. It can also start a race to the bottom price wise, but as always.. even in these saturated markets if you can prove that you can deliver high value there will still be business for you to capture.
Most people need a script, which is why selling the "cut and paste" formulas will always be profitable. I think those selling these "systems" realize that doing so is easier and probably more lucrative than actually doing what they're selling. Before the internet, these gurus were on infomercials. Now they've just moved to Facebook ads to sell their courses. 99% of the people who buy the courses never follow through with the work, or they barely do anything, so they get no results, and then they give up.

I follow this filmmaker on YouTube who sells a course, and was transparent on how he made $1 million selling his course (which he's only charging like $700 for, so he's sold a lot!). He couldn't make that much shooting weddings and real estate videos. Now, I think his course is actually legit, and this is a little different, but it's a good example of how much more profitable selling courses is than actually doing the business you're selling.
 

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