A major reason why businesses fail is that people have to change their habits to become successful entrepreneurs. Imagine if you could create a profitable business just doing what you normally do. Join Jay as he gives you three real-life case studies of people doing exactly that, and also tips to help you do the same.
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 399
A major reason why businesses fail is that people have to change their habits to become successful entrepreneurs. Imagine if you can create a profitable business just by doing what you normally do. Many times, your business is right under your nose, and you don’t even know it.
ECOMMERCE ARBITRAGE – Turning his love for going to flea markets into 75K in revenues each year. Goes to flea markets with the Amazon seller app and scans products to see if they’re profitable to buy. Link to create your Amazon Seller account https://sellercentral.amazon.com/
Monetization – sells products on Amazon and eBay for profit
Pros
You’re doing something you naturally do and enjoy
low barrier to entry ($39 per month Amazon seller account) and the cost of whatever products you buy
You can start at your own pace
Don’t have to create product listings because they will already be listed
Can calculate your profits on each unit you sell
Cons
You have to continue to find profitable products
Hard to scale unless you allocate more time to find deals
WINE PODCAST & NEWSLETTER – A buddy of mine is chronicling his journey of learning about wine. He gets together with his wife and friends on weekends, and they try different bottles of wine and comment on them. He also goes to different wineries and tastes wines.
Monetization – newsletter sponsorship/advertising, sell your own products (wine glasses, plastic wine flasks, corkscrews, branded t-shirts, and products), affiliate products, and eventually podcast advertising and event sponsorships, and wine tasting events. I recommend https://rasa.io/ for your newsletter.
Pros
You’re doing something you naturally do and enjoy
Very simple to create a newsletter business and build a platform
Unlimited monetization with newsletter selling products, sponsorships, promoting events)
Cons
Takes time to build your newsletter and podcast platforms
CAMPING YOUTUBE CHANNEL – My cousin and his wife love to camp, so they’re looking to start a camping YouTube channel/video podcast for Black campers. They are going to document their camping trips like when they buy their new camper etc.
Monetization – Affiliate sales from product reviews, paid interviews from campground owners, selling their own branded products, sponsorship advertising – (restaurants in the area, local attractions, product sponsorship, etc.), YouTube income (when they hit the YouTube threshold).
Pros
You’re doing something you naturally do and enjoy
Very simple to document your camping via video camera
The untapped market of Black campers
Multiple monetization opportunities
Cons
Takes time to build your platform
Other Similar Opportunities
BEB Family member was going to start selling pillows, but the real business was selling the fabric because she could get expensive fabric for $4 per square yard that was selling for $25 per square yard because of her work connections as a professional seamstress.
An amateur photographer friend of mine sells his photos to Shutterstock and makes 15% to 30% of the fees his products generate on the Shutterstock platform.
A guy I know who always tapes his daughter’s field hockey games sells the tapes to the school so the coach can use them in practice.
A woman I know who works in marketing for a company creates mini sales funnels. She created a simple three-page sales funnel template and makes money by selling that template to other people who don’t know how to create sales funnels. She has two products, she sells the templates, or she’ll create your mini sales funnel for you.
