I Discovered the Best Businesses to Start in 2024
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- čas přidán 1. 06. 2024
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In the investing world, insider information is everything.
It's the difference between making a smart decision or a costly mistake.
Launching a new business is *no different*.
I've seen too many bright-eyed entrepreneurs sit back and not take action because they can’t decide what business to start.
Most waste 5 years of their life in the wrong business…
Or they spend 5 years sitting on the sidelines.
So to help you avoid these mistakes I’ve cut through the clutter, and analyzed all industries, the gross margins, market demands - the full spectrum.
In today’s episode, I’m sharing 4 game-changing business opportunities you can start in 2024.
Chapters:
0:00 What is Gross Margins?
0:43 Business #1
2:23 Business #2
4:50 Business #3
7:47 Business #4
Instagram: @danmartell
Twitter: @danmartell
Those are the best businesses you can start in 2024!
Leave a comment, let me know your favourite:)
@danmartell - solid video
Brilliant Video - One of the best advice I've watched on CZcams. I hope Dan you'll go deeper on each of the 4 Models in future videos. My favorite is a PRODUCTIZED SERVICE. My idea from this video is to do all 4 by building from one to the other. In which order I don't know yet. One could start with product first or agency is what I'm thinking?
you buy a product for $1 and sell for $5 GP is 400%, not 80%
Can't wait to have you on the podcast one of these days - Incredible work Dan!
SAAS
is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty to me not that it matters because I’m in it for the long run, but how can i generate actual profit to improve my $160k portfolio which seems to be stagnant and maximize return on my investment.
It's not difficult, but you have to learn and handle. you should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows, rather than betting on penny stocks.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
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
Walter James Henry is the licensed fiduciary I use.
He's mostly on Telegrams, using the user name
*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
Yeah I have same issue also, sometimes I feel like the market is being manupulated
Trading under the guidance of an expert is the best strategy for beginners.
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.
You got it;)
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US. The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of the bad governance. We need to take our financial life serious.... I recommend stock market investment and digital currencies
In life, I will forever be grateful for health, wealth and a great professional whose help has been great for my finances.
I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Katarina Brooklyn , has been an amazing experience.
It's truly heart- warming reading a lot of testimonials on Katarina Brooklyn . Her personality, ethics, principles and prowess as a Financial Adviser has gained her fame and recognition around the globe.
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America, all thanks to ms Katarina Brooklyn
Is her trading service here in katakana Brooklyn ?
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?
I completely understand your concerns. Navigating the financial markets can be very challenging
What I would suggest you do is seek the proper guidance of a professional advisor that can manage your portfolios the right way
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
His full name is Kurt Bastian Vogel
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 will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Nora Hendrix.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and I’m so happy.
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading.
I'm new at this, please how can I reach her?......
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME
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.
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.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
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.
Hey I want to start investing but don't know where to begin. Any advice or contacts for help?
It is wise to seek professional guidance when building a strong financial portfolio due to its complexity
Talking to a experts like Nancy Hall to reshape your portfolio is a smart move.
True! I diversified my $25k portfolio across different markets.
I made a net profit of around $108k by investing in high dividend yield stocks, ETFs, and equity
The reality is, you cannot do it without a tried and true trader like Nancy
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.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
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.
Impressive can you share more info?
'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 .
Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn
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.
@@ThomasChai05who is your advisor please, if you don't mind me asking?
*Gertrude Margaret Quinto* 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.
finally someone talking about real businesses apart from what gurus are trying to sell, SMMA, dropshipping
You know it:)
this was by far the most collective, informative mind blowing, got me thinking, simple enough to understand, with a dash of high value .........
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.
One of the most underrated business concepts. get it right and you’ll go far
@@danmartell
bootstrapping and stuck between slim margins against a shrinking ad budget
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.
Those merch sets though, hoodies t-shirts caps, 25 winners each time, 4RBT really knows how to make fans happy
Hey dan, im 18, been in this make money online space for around 2 years. And im just kinda stuck. Ive been switching between dropshipping and having a local lead gen agency, but I havent really seen much success. Im just curious what do you think I should stick with(dropshipping or agency). With the agency I really kinda hate it. Im introverted so cold calling and doing calls everyday isnt my cup of tea, but ik everyone talks about how its the best business model. But at the same time i actually kinda enjoy dropshipping(not just dropshipping, but more like ecom as a whole, I sell POD, ebooks,). But ive been working on it for close to 1.5 years(never went all in), and i dont have much to show for it. and im curious what doyou think i should do
This is a good video!! I love the breakdown ..easy to understand. This is a must video for anyone thinking about jumping into business ..Bravo Dan!
That was the goal:) glad you liked it
I also liked it!
Dang that...Commodore in Software segment brings back some great memories.
Focusing on high margin industries and developing products or services that are in high demand and have low competition is key.
Yup👊
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!
How many people in society are great at what they do? Maybe 20%. The real juice is helping people to discover what they are great at and going all in.
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.
Appreciate the kind words🙏 the hormozis are gems 💎
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.
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.
“The best businesses have good margins” 🔥🔥
Buffet is the best
LMAO. The best sweet things have sugar. Thank you very much. XD
I agree with you, man.
@@danmartellhow to start a agency modal (drops servicing)
8:13-8:21..."as long as the Servers don't change that code will run the way it has forever"...wow. this is a dope video.
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 💎👌
love it! Its covered a lot of my concerns, and given me a lot of detail. Are you on skool dan?
Glad it help:) & nope not at the moment
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?
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.
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
Yup:) doesn’t matter how hard you row if you’re in the wrong boat
tech is collapsing
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 true!
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😂
Appreciate you! Matt’s awesome and so is Taylor🙏
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
Great info Dan, appreciate the details! 🔥
Putting my best stuff out there! Appreciate the kind words:)
Dan, we never met, but when I will hit my success, I will send you a check. Thanks, coach. Artem.
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?
BEACH HOTEL IN THE PHILIPPINES! We open next year! Dreams come true! LFG!!!!!!!!!!!!
my dream is to be a coach! I always wanted to help people and change lives for the better! good video
Every time I watch one of your videos, I learn something. Great video
Glad you enjoyed👊
What are some boring software products? I know that you can make smart calendars and stuff like that, but what software does boring business use?
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.
Skills are important but at the end of the day it’s people. Get really good at one thing and delegate the rest👊
The last one was just a teaser 17th is going to be even better with 4ra every time it's a new adventure guys so many surprises each time
Great video. Margin per unit is sooooo important. Great reminder
Appreciate it🙏 probably the most overlooked data point in business
I'm all in for the merch set on May 17, those hoodies and caps look dope, 25 winners so better chances right?
Thanks for sharing such valuable information! ❤
Appreciate you!
Actually I am lil confused as I am starting Agency business but need some suggestions where to go and how I can use AI ... Help.
I’ll make a new vid but I’ve got tons of old videos about how to build an agency
Great content! What do you use to create your video?
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.
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.
Yes to both. Early stage investing is all about investing in the people.
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.
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?
You need to create your own process, manage risk and stick to the plan, through thick or thin or you can just seek the help of a financial advisor.
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.
@georgeh Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
@georgeh Please who is the consultant that assist you with your investmnt?
'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..
Good analysis. Respect.
Absolute GOLD!
Appreciate the kind words:)
This video is pure gold ✨️
An incredible list.
Well done
Thx🙏 putting my best stuff out there
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 ❤😂🎉😊
Great content and even greater production 👏🏼
Appreciate the comment🙏
Sharing my best stuff.
Thanks very informative Great content 👍 👍👍👍
Someone said they need an example, well you did everything you've told us. Such a valuable video I have's seen !
Great stuff Dan. First Video I've seen from you. I like.
Fantastic post.
Thanks Dan for this great video!
thank you that was very help ful..
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.
Love this !
Very Interesting THANKS looks great
Appreciate it!
Thanks for the video! My fave is ecommerce. Love from Australia. Cheers ❤
It’s one of my favourite to start with
Amazing advice and I’m Canadian American so I’m gen Z so absolutely this great
The channel is finding the PMF! love this one Dan!
Appreciate you:)
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.
Yes!! Probably the most important thing to get straight before you start
I've learned a lot!
🎯 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.*
Dropped the buffet quote 🙌
You know it;)
Excellent content!
thank you ❤ feom bangladesh...
Just watched the 4ra lottery show on May 10 and wow ₹10 Lakhs was won! remember next chance is May 17, guys get in
I'm all about the PlayStation 5, missed last time but 17th May is my day, 10 PS5s up for grabs!
That was awesome. Thanks!
Any advice or contacts for help?
Awesome video Dan! Not planning on starting up anything new myself but if I was, these would be it!
Love it! Appreciate you:)
The best ✅ business ideas 😉 💡
Great video thanks boss
Appreciate ya🙏
🎯 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
Sound's good to me but how to start and where like what platform is best for this or this is available in Pakistan or not??🇵🇰🧐
Skool or shopify stores are a great place to start
Everyone join, let's make May 17th a big day, tell your friends too! the more the merrier and better chances to win big at 4ra
Hi sir. I just want to tell you that I found an epub file of your book online and free.
Very well done video from a fellow Maritimer
Appreciate it!
The broccoli of software earned a sub!
Very useful content
Appreciate you👊
Thanks.
So I’m a limo driver, how could I monetize that skill? I don’t want to drive anymore
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.
Is it good time to beome a Bubble developer?
Finally Dan’s getting the credit with the video views
It’s been a grind💪
According to Warren Buffet, 40% gross margin is not bad at all, I'm just saying, but I get the point
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
awesome!