How To Build A Profitable Business In 2024

"if you want to build a business that means you're creating something that you can walk away from you're building something that you can sell and they can continue to operate even if you're not there"

"let's just say you could sell your business for a 10 times multiple of your profits if you're making $30,000 a year in profits that means your business would be worth 10 times that profit $300,000"

"the reason why it's good is because you have the scalability aspect but the downfall is you also have a lot of volatility see if you're selling a physical product and you can get your product into stores or you have a distribution Channel where you know that these buyers are going to be buying your product you kind of have that expectation of how you can expect your sales to look when it comes to digital products it can be a lot more difficult depending on how you're marketing your product"

"now thanks to the internet you can do it completely flipped now you can build an audience first you can build your customers first and then ask them what product that they want and what you'll see is people will come to you saying I love what you're doing I love what you're talking about I love the content that you have sell me something"

"well my YouTube channel is already generating Revenue so when I make a video I'm making money from that video and then when I talk about my newsletters well now I'm making money through the video while I'm getting new newsletter readers to my business"

"the value of okay why am I buying this online education it's to learn so I can reduce the time it takes for me to figure it out like if I can watch 8 hours of classes I could potentially save two years of my own experimentation"

"the key here if you want to succeed when it comes to learning from other people whether it's classes whether it's books whether it's listen to podcast whether it's coaching it doesn't really matter is if you want to see the most success the most success comes not from copying a five-step blueprint the success comes from learning the blueprint seeing what worked for somebody else and then applying that information to you"

"if you're learning how do you get customers take classes get coaching on how do you do SEO take classes get coaching on how do you do Facebook advertisements take classes get coaching on how do you get PR There's real value in education that has specific goals"

"as you grow you're going to want more knowledge you're going to want to learn from more people people who've done bigger things who've done bigger and better things and you're going to want more access to people all these things cost more and more money"