BEST Business To Start in 2024 If You’re BROKE!

BEST Business To Start in 2024 If You’re BROKE!

Ladies and gents 2024 will 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 destiny wow that 

was an 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 writing this article 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 2024 now two common 

business models out there that I'll just go ahead and debunk right away are real estate investing and trading.

1) 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 need to take a long hard look at themselves 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 make a dent so without at least five thousand dollars in those business models you're 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 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 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 number 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 

Conclusion about Trading & Investing:

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 just it kind of almost makes my blood boil to see people 

legitimately recommend that as the 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 I am investing in stocks and some other businesses. so it's up to you to decide what business model suits you.

So now that we've debunked those two common biz op industries let's move on to E-commerce.

2) E-commerce (Dropshipping and Amazon FBA) 

so we're talking things here like dropshipping and Amazon FBA which by the way if you don't know what dropshipping 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 costs that difference right there is what you keep minus refunds disputes merchant fees etc. 

E-commerce

Amazon FBA:

Amazon FBA is fulfillment by amazon so basically what that means is you buy a bunch of stock you send it off to amazon 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.

Dropshipping: 

Now let's start with dropshipping 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 laptop or camera or any other accessories 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 junky thing that they bought in the spur of the moment that they don't 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 you know is 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 

 Conclusion about E-commerce:

There are 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 a stock you have to build supply chains and build a real company, not just a party trick. 

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. 

3) Affiliate Marketing:

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 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 work and I'm not discounting it at all 

 

Affiliate Marketing

Conclusion about Affiliate Marketing:

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 audience size on Youtube 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 reality that brings us to what you've been waiting for this entire post 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.

4) Service-Based Businesses: 

So these include things like starting a social media marketing agency becoming a personal trainer becoming a consultant you know learning videography and editing skills and doing that the list goes on and on the main point here is that you are a service provider. 

Social Media Marketing:

Now as you guys know I believe in social media marketing.

the most and the beauty of having a social media marketing agency is you don't need to deliver the services yourself you can use the Airbnb business model the uber business model the Expedia business model. 

 

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 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 works.  

Conclusion about Service Based Business (Social Media Marketing):

The 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 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 the worst-case scenario and let's imagine that it takes you a long time to 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 the 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.

Social media marketing

so you know worst case scenario with a social media marketing agency 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 I hope you enjoyed this post plz share this post and if you have any questions plz comment I will try my best to answer. Thanks!