What is the easiest and most profitable business to start now?
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The easiest and most profitable business to start in the whole world is... not an accounting firm.
Despite what most big newspapers and magazines are telling us, it's not a real estate business either. It's a new business idea that any beginner can start today for free from the comfort of their own home. It's an online business. It's the business of selling your knowledge or selling other people's knowledge. It's the so called e-learning industry.
This is by far the easiest, most profitable, best business to start if you are a beginner in the business world. Why?
1st - it has absolutely no barrier to entry. You can start today, for free, and learn how to make your first profit without ever needing to invest a single dollar (that's insane).
2nd - it's automatable. You can automate over 90% of that business and scale it to make over $1M per year all by yourself without the need of hiring a team. This online business works for you 24/7. It works while you sleep. It works while you're on the beach. It makes you money while you are at the gym or on a vacation. You don't need to call anyone or go knock on doors. It just works.
3rd - you can work wherever you want. No more commute and no more office (unless you really enjoy it).
4th - the e-learning industry is one of the fastest-growing industries in the world which also makes new businesses in this niche the best businesses and potentially the most profitable businesses to start in the world. It's much easier to scale in a rapidly expanding market than it is in a market that's going down (like so many markets nowadays).
So if you've ever wondered how to start your own business or what is the most profitable business to start, this is the answer you've been searching for.
All it takes is belief and some good old methodical action. If you want me to coach you how to start your own online business, you can get my online course and mastermind group completely free (you'll thank me later). You can also use my partner link to get the best software to run your online business FOR FREE as well. This software called Kajabi is used by people like Grant Cardone, Brendon Burchard, and many more. It's the tool that allows me to run my business almost completely on autopilot and make significant amounts of money while I sleep (it's insane).
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If you want to learn more about Kajabi and how I use it to make $1,000 while I sleep at night, you can watch this video here: https://youtu.be/kcq3ALaRz1Q
Enjoy and good luck, my friend.
Remember, you are always just one action away from extraordinary!
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The Most Profitable Business To Start - 00:00
How To Start Your Own Business - 5:26
FULL EPISODE TRANSCRIPT:
Forbes, Inc magazine and countless others are brainwashing everyone with information that is 100% wrong. Not only is it 100% wrong, but it’s also causing damage to a lot of people.
If you go to Google right now and search for “businesses with highest profit margins” you’ll find the following information. According to all the reputable newspapers and business magazines, the #1 business to start if you want the highest profit margins is an Accounting firm since that industry has about 19% profit margins.
The second best is Legal Services at 18%.
Then oil and gas at 16%.
Real estate at 14%
and so on.
How about some of the crappy businesses in terms of profit margin? Furniture stores average 3%. Car dealers – 3%. Grocery stores – 2.5%.
Now that’s probably the best time to realize that what you read online can be 100% wrong, even if it’s written in what is supposed to be a legitimate media source. The statistics I read to you are most likely right, but they simply disregarded the best business opportunity and it’s nowhere to be found on their lists.
But before I tell you which business has the highest profit margins of all, let’s see what exactly profit margin represents and why it’s so important.
Profit margin is the ratio between profit and revenue. Let’s take an Accounting firm as an example.
If company A is making $100 in revenue for selling its services, and it’s making $19 in profit, which makes a 19% profit margin. This also means that it has cost them $81 to make that $100 revenue and $19 profit. The last time I checked that was far from the best business opportunity.
The best business opportunity that can help you create money and time freedom faster than anything else is in a whole different league from all other businesses. For some very weird reason, they forgot to mention that (which is actually great for us since most people don’t know that). We should all be thankful for the ignorance of the people who wrote these articles.
So here are the numbers which are possible with this business I’m talking about. Let’s compare.
The accounting company A was making $100 in revenue. Let’s say our awesome company B made that same amount for selling their product. Company A made $19 in profit or a 19% profit margin. Our company B however made a stunning $72 profit or 72% profit margin.
Now, someone might say “Yes, but that’s just a 53% difference. It’s not a huge deal.” And that someone will be very far from the truth.
That 53% difference looks like this at the end of the year.
For every $1,000,000 in sales, company A only makes $190,000.
Company B, however, will net $720,000 for that same $1,000,000 in sales.
That’s nearly 4 times as much. Would you like to have 4 times more money at the end of the year?
But that’s not the only thing that makes our awesome company B the best business opportunity in the world. Here’s the even better part of the equation.
In company A and all other examples of “best businesses” that Forbes and Inc magazine is talking about – you must have employees. You must have an office. You must be there and you must work your ass off to be able to make $1,000,000 in sales. Basically, even if you are the owner, you are still the slave of your own business.
I had a business that was making over $15M in sales every year but I was the slave of that business. And it really didn’t matter how much money I was able to get at the end of the year since I didn’t really have the chance to enjoy my life.
But let’s see our amazing company B - you can do everything there all by yourself if you want to and you’ll still be able to make millions of dollars at insane profit margins without working long hours. You can automate 90% of the whole thing. You can do it on the beach, and you can make money while you sleep.
Oh, and I forgot to tell you. That business is in an industry that is one of the fastest-growing industries in the world. It surpassed $200 Billion in 2019 and is projected to grow to over $375 Billion by 2026.
At the same time, many of the businesses I mentioned above are expected to decline and some are even expected to disappear in the near future due to the rapid growth of artificial intelligence and automation.
So, not only are you able to pocket 4 times as much for every dollar you invest in that business, you can work significantly less if you want to, and you can also grow this business much bigger than most other businesses out there since it’s in a rapidly growing industry.
I’m guessing it’s time I stop teasing you and let you know what this business is if you haven’t guessed it already.
What you are watching and listening to right now is this business. It’s the industry of online education. It’s online courses. It’s digital books. It’s audio programs. It’s anything that you can sell digitally. Without the need for offices. Without the need for warehousing. Without the need for stock. Without the need for almost anything.
This program that you are part of right now is a small piece of my structure of strategically integrated online programs. And every single person who gets into my ecosystem can potentially make me about $3,000 in a single day in return for the value that I provide in these programs. Most of that $3,000 is pure profit.
How much does it usually cost me to get someone to join my so-called business ecosystem? Very often, it’s totally free, but if I’m using marketing methods, it costs me about $3 and 50 cents.
Yes. For every $3 and 50 cents spent in marketing, I’m able to reach about 150 people of which at least one joins my mailing list to get one of my online programs.
How much time do you have to spend to run such a business? It depends on how big you want it to be. If you want to make $50,000 per month that should make your family feel pretty comfortable, I’m pretty sure you can do that by working just 1 day of the week.
But if you love doing it (which I do) and you want to create something meaningful with a huge impact on the world, you’ll obviously want to invest more time in it. And that’s when the game becomes pretty exciting. Because for every hour you strategically put into that business, you can get disproportional returns that will be compounding with time.
To have an extremely successful business in the online education industry, it doesn’t mean you need to be on camera or create any products yourself. In fact, many of the most successful people in the industry are people promoting other people’s products.
My business is fortunate to have a whole army of Freedom Hackers who are promoting my programs and are making 50% for every sale. Yes! 50%! How can I give such insane commissions? Because of the massive profit margins that digital products have. It doesn’t cost me almost anything for a client to buy my products other than my initial investment of money and time to gain the knowledge and the experience that I’ve now put into an online teaching program. And I don’t need to be anywhere or to knock on doors or call numbers to sell my products. My products sell automatically 24/7 no matter where I am and what I do.
My marketing is automated. Payments are automated. Emails are automated. Product delivery is automated. More than 90% of my business is automated. You can imagine how much you can scale a machine like that without ever needing to hire anyone.
So, I guess the question is this. Are you going to stay in an industry that is slowly sinking and is delivering mediocre results, or are you going to jump in this exciting game that can get you 100 times faster to Money and Time Freedom?
But I guess I already know your answer to that question because you wouldn’t be here if you weren’t ready to pull the trigger and start the journey of your life.
If you want to make more money than you’ll ever need and to have the freedom to work because you want to and not because you have to, this is going to be one of the best things that have ever happened to your life.
My friend, I can’t wait to dive deeper and start setting up your incredible online business!
I’ll see you in the next lesson!