What will you do to earn income?
What products or services will you provide?
How much income do you need?
How much do you need to earn with your Start-Over plans? Odds are you can’t work at Starbucks or Uber and make enough income to 1) support your lifestyle and 2) fuel your Start-Over Success.
Both Mark Cuban (Shark Tank+), Mark Lemonis (The Prophet), and other successful businesspeople say that, if they had to Start Over, they would go into Sales! Not just any sales, big-ticket product sales. Why? Making big sales means big commissions.
Lemonis said he would do car sales. Cuban didn’t say what kind of sales, but he would also work as a bartender at night. Why? Those billionaires want money to put into starting a business!
Let’s face it, we can’t spend our ways to millions. But, we can be more frugal or minimalistic to save money and self-fund our plans.
Bill Gates said that, if he was Starting Over, he would go into a different industry, maybe Artificial Intelligence (AI). Why not computers or coding? Think about it, when Gates started out, computers and coding were “it.” And he built his fortunes on those. What is “it” now? One of them is AI!
Know this: many fortunes were made during the Great Depression. The key is to understand what people need and want now, and give them that.
There’s a lot to be said for meeting the market where it is. So, what industries are hot now?
- Healthcare
- Food
- Child care and education
- Repair services
- Financial services
There are products and services that the Pandemic proved to be valuable and others that are immune to Recession:
- Alcohol
- Entertainment
- Convenience
- Internet-delivered
- Virtual work
- Home
What markets are still likely to spend, even in a recession? Sure interest rates are high, but there’s a segment that’s got cash to spend. That segment is those who are over 55 years old. The data shows that the group from 50-70 account for 37% of all new car sales! Think about it. Sure millennials are the biggest demographic now, but they don’t have the spending power that seniors do!
No matter what your situation is, to ensure your Start-Over Success, you must find out what people want and give them that! Does that sound too good to be true? Nope. It has always been true.
The great news in today’s business world is, finding out what people want is easy! Why? Because Google knows and provides all that information, for free! What? People do online searches about all their wants and needs. You can easily get that information, with Google Keywords Searches. (More on that later.)
