BEST Business To Start If You’re BROKE!

ladies and gents 2021 has never been a better time to start your own business it is clear that having a job or going to college is no longer a plan you have to be the master of your own destiny wow that was a really intense intro anyways there's a lot of confusion out there especially for beginners as to what the best business model is to get started with and a lot of people are very starry-eyed looking at all these different business models they're pulled in one direction and another direction and i'm making this video here

today to give you some clarity on the best way to go if you are broke if you've got no money and by the way the conclusion of this video is not just one business model it is an entire subsection and i'll explain why without question it is the best place to get started if you have no experience if you've got no money and if you want to get started with the business in 2021 now before we get started if you could just go ahead and ladies and gentlemen smash that like button it really really motivates

me to continue creating content for you guys and shows me that you guys enjoyed it so go ahead and smash that like button really appreciate it now two common business models out there that i'll just go ahead and debunk right away are real estate investing and trading i think there's a lot of gurus out there i think the people who try to sell this as an opportunity really need to take a long hard look at themselves in the mirror and ask themselves are they being honest with their audience because look you are not going to

invest your way out of being broke investing in real estate and becoming a trader is not starting a business and as i said you're not gonna invest your way out of being broke furthermore when you're first getting started you need a business model that you can start with very little capital with both those business models without less than five thousand dollars by the way that's most of the time not even enough to get started properly and you know really really make a dent so without at least five thousand dollars in those business models you're really

not going to be able to achieve much now you can tell me all you want about you know deal sourcing and by the way deal sourcing in real estate at that point you're really just self-employed and you're providing a service for another person which we'll get on to in just a second but that's not real estate investing and you can tell me all you want about no money down deals but it's just not realistic and as i said i think it is absolutely immoral to recommend that to absolute beginners and if you go down the

trading route and you're really really good and guess what who knows maybe you might double your money in the first three months now that's impressive if you're sitting on a million dollars but if you're sitting on a thousand dollars like most beginners by the end of it you're probably making less in terms of the amount of hours you put in compared to how much money you're making you're probably making less than minimum wage at that point and the other really important thing to remember for example for those of you guys who want to get into

trading as a business model you're only assuming that you make money what about if you lose money and most traders lose money in their first year so in terms of trading and real estate as a business model for beginners or with people who have very little capital forget about it as i said i i just it kind of almost makes my blood boil to see people legitimately recommend that as a best route for beginners by the way i am not opposed to trading i'm not opposed to investing in real estate i don't personally have any

money in real estate by the time i'm recording this my personal not business personal trading portfolio is worth around 1.2 million dollars and that's post tax i'm not going to tell you exactly what i'm invested in and my overall investment portfolio at this point in my personal name is worth around 2 million dollars so as i said i am not opposed to investing whatsoever i'm just saying i didn't get to the point where i had 1.5 million 2 million dollars after tax to invest in my personal name by starting off with no money down real

estate deals or a 2 000 robin hood or crypto portfolio and worked my way up from there no i got there by years and years of having a business so now that we've debunked those two common biz op industries let's move on to e-commerce so we're talking things here like drop shipping and amazon fba which by the way if you don't know what drop shipping is it's you find a product on a website like alibaba you white label that product you put up a website you run ads or you know uh pay influencers basically you

send traffic to that website and then you know the difference between what you charge on the product compared to what it actually costs that difference right there is what you keep minus refunds disputes uh merchant fees etc etc and amazon fba is fulfillment by amazon so basically what that means is you buy a bunch of stock you send it off to amazon then when people are searching on the amazon marketplace then you know they might see your product and long story short similar sort of model except amazon is kind of driving the traffic there now

let's start off with drop shipping and quite frankly drop shipping in the year 2021 is dead me personally and by the way i know that i represent the masses the majority if something is on amazon and it's not prime and it doesn't deliver the next day or at least the day after that i don't order it to me that that's waiting too long and most days when you order something on let's say apple or when you order something or even going directly to a company let's say you know this camera that i'm using right here

most of these companies do next day delivery or at least at the latest a delivery within a one week time frame because they know that look we live in 2021 people don't like waiting around so and by the way those are for very in-demand sought-after products so imagine how people feel when they have to wait two to four weeks for a product to arrive from china some janky thing that they bought in the spur of the moment that they don't actually want or realize that they don't want does that sound like a very legitimate base

not to say it's legitimate but does it sound like a business that um you know is really going to be here in the next two years five years 10 years no not really and over the last few years we've seen the disintegration of drop shipping rightly so because it's crappy products sold as a bit of a party trick and there's no real business fundamentals behind it if you want to succeed in e-commerce you have to have an actual brand you have to invest in stock you have to build supply chains and build a real company

not just a party trick now how do i know that i have my own e-commerce clothing line gadget and another thing that i forgot to mention is e-commerce brands take a lot of capital you know with gadget everything is done in-house it's none of this drop shipping crap and quite frankly as a business model it is brutal now i love fashion so for me it's uh it's a distraction that i know is a distraction from the main businesses but whatever i enjoy it so many of you guys get so much joy from the products for

example the new gadget g1 blue light blockers and very shortly we're going to be coming out with the core collection but to take that as an example the g1 blue light blockers we spent around nine months developing and then once we finally developed it i sent the wire to the manufacturer which was 70 thousand dollars in beginning of september and we did a pre-release mid-december so it really only started shipping uh early january i was seventy thousand dollars in the hole for three months i didn't see that flip over in revenue for three months and

with the core collection i'm about to send circa a 105 000 wire i'm converting from pounds it's 75 000 pounds so i'm sending that wire and once again i won't see that flip over in revenue for three months or so why because for example with the gadget g1s it took three months to build all the parts for the glasses and said all of his bespoke we weren't able to buy any of the pieces from any companies so all of it was bespoke so to make all of the the frames the glass the hinges put it

all together get it to our distribution center in london that took around three months so it is an absolutely brutal business guys and that's with me already having a pre-existing brand i don't you know i can't even imagine what it'd be like if gadget was just starting from the ground up so you need to understand that if you want a successful ecommerce brand and by the way i have friends doing a million a month from their e-commerce brands but they have bra they've done everything that i said which is spend years and years developing a

brand you know investing in stock uh building those dish distribution channels and even still it is so so so hard to make it work in that industry and that brings us on to amazon fba which is a slight variant of it once again you're gonna have to spend five thousand dollars on stock for a product that may or may not work and that you know the ranking system and the seo system behind it is really controlled by amazon so i don't think it's you know i would never want to have a business that's in another

company's control so ladies and gents i would stay away from e-commerce in general because for you to make it work in 2021 you are going to have to invest a lot of money and even still it is very very hard to make work the next common biz op is affiliate marketing now i'm a little bit more of a fan of this because it is true you can get started with absolutely zero investment but just know that for a solid year or so you're not gonna see a single penny from affiliate marketing so basically what affiliate

marketing is is you find a product out there or software out there you market it and then in return you get a commission for the total amount it sells for now the main thing with that is you need a traffic source so good luck spending a year you know developing a youtube or an email list or a blog because it said you need actual traffic to drive to an affiliate offer so affiliate marketing is something that can definitely work and i'm not discounting it at all i'm just saying usually i don't see it as a

viable main business really what it is for most people is a supplementary income so if you have a decent uh audience size on youtube uh via you know an email list that you collected or a blog then you can promote some affiliate offers to it but i wouldn't go into it as a business opportunity if that makes sense and really that brings us to what you've been waiting for this entire video which is what is the best business small to start if you're broke and there's no one right answer really what it is is a

category and that is service based businesses so these include things like starting a social media marketing agency becoming a personal trainer becoming a consultant you know uh learning videography and editing skills and doing that really the list goes on and on the main point here is that you are a service provider now as you guys know i personally believe in social media marketing the most that's why i started the company agency.com two years ago and really the beauty of having a social media marketing agency is you don't actually need to deliver the services yourself you

can use the airbnb business model the uber business model the expedia business model you know right now i'm in an airbnb i'm in south africa spending two months away from london now the owner of this villa very well could have marketed you know this airbnb themselves yet why did they put this up on airbnb you know which is a huge directory in a huge marketplace of villas and you know give a massive massive service fee and a massive cut to airbnb because they don't want to deal with the the stress of marketing and selling themselves

and that's really what you use when you are starting a social media marketing agency you find a contractor who's you know gonna deliver the facebook ads the google ads uh the email marketing the social media management you know really everything that falls under the umbrella of having a social media marketing agency you find them you use them as your contractor and then you go out and you sell these services at a 200 300 markup now i don't want to get too in detail on how that actually works because right below this video you can find

an updated 2021 case study where i go into this model in excruciating detail but really that's why i'm a big fan of it the other reason i'm a big fan of it ties into the reason that i'm a fan of some of these other business models that fall under a service-based business so whether that's you know you being a video editor or you start you know becoming a consultant or a coach whatever it may be is that you can start all these things with less than a hundred dollar investment and when you are a beginner

and you've got no money that is the most important thing because as i said you know you always look at the upside you've got these people in e-commerce or you know trading and this and they're talking about all the infinite upside well well what about the downside how do we hedge your downside how do we make sure that you know if things go terribly wrong and let's say it takes you a long time to find success with this business model because if you stick at it any of these business models you will make work it's

just which one is the best for a beginner so let's imagine worst case scenario and let's imagine that it takes you a long time to actually see results let's go ahead and hedge your risk let's go ahead and hedge your downside which is why with social media marketing you can get set up for less than twenty dollars all you need is a business domain a business email and that's it you know things like zoom is free slack you only have to pay for once you actually get a client and you really are off to the

races and even outside of a monetary perspective you always want to think about worst case scenarios so you know worst case scenario with a social media marketing agency let's say let's say you don't sign a client for six months you're out of pocket 20 the skills that you would have learned you know looking you know going out there looking for contractors or if you decide to deliver the services yourself which by the way you know newbies most of the time they either 50 you know find a contractor or 50 of time they learn the skills

and develop the skills like for example facebook ads or google ads or email marketing they learn those skills themselves to deliver the results to clients well if you spend six months working on your social media marketing agency what you're gonna learn in terms of sales in terms of operations in terms of you know hiring in terms of going out to the marketplace pitching your offer and you know it sounds uncomfortable and quite frankly that's because it is but that's the way the business works you know i think a lot of people just want to hide

behind their computer and you know and just find this party trick or this secret business ball and it really doesn't exist the beautiful part is when you learn all those skills you know a lot of people in my community agree and see they actually then you know have an agency for two three years get to the point where they're making five figures a month multiple five figures a month and then they actually allow them start e-commerce businesses or get into real estate because they've got the money to do so or you know they actually then

go ahead and start day trading right because once you've got that capital you have a lot of options so ladies and gentlemen i hope you enjoyed this video and remember if you're a beginner you want to mitigate your downside as much as humanly possible now as i said i threw together a short 30-minute updated 2021 case study that's going to show you how to implement everything i talked about in this video get off the ground with your social media marketing agency and rapidly scale it to 10k a month now at the end of that case

study i don't sell anything at all but you actually have the opportunity to speak to christian who's my student success manager agree agency and he'll be happy to answer any of your questions about how to actually get this off the ground and get this started in 2021 trust me you're not going to want to be left behind and not watch that video and apart from that down in the description you can find the gadget giveaway winner as always on all my videos i give away a piece of apparel from gadgey my bespoke clothing line to

enter into that all you have to do is subscribe turn on post notifications and comment within the first two hours of a video going live and then check back the next video and i announce the winner it'll be a pin to comment down in the comments section hope you guys enjoyed this video and i'll see you in the next one hey look if you enjoyed that video i went ahead and picked out another special video that i know you're gonna find immensely valuable you can find it right there i know you're gonna love it and

i'll see you in the next one