497: New Business Opportunities You Haven’t Heard Of

Here’s some actually fresh business opportunities for you to find your blue ocean of customers.

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Hosted by Derek Videll

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Transcript

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What's up guys? Welcome to the Social Media Entrepreneurs Podcast. You channel become a full-time entrepreneur by leveraging modern social media strategies. I'm your host, Derek Videl. On today's episode, we are talking about what business opportunities are really out there right now. I've had a lot of interviews with people lately that come on and they talk about some of the business opportunities out in the space. Austin Armstrong, we talked to Matt Radd, we've talked to some other people lately, um, including um Ryan Letty, some of our recent interviews, and they've all talked about some business ideas that are good to start. And we always talk about marketing agencies, right? That's always the new hot thing because there's always just whatever new marketing opportunity is out in this space, you can make a business by learning how to do that marketing faster than other people, and then start selling it to business owners because they haven't been uh talked to about those services yet. So you can be like the first person to contact them, they don't they're not already working with someone very likely, and you know, there's always a possible opportunity about that, but there is something that you need to know about it is that if you want to become a marketing agency at this point, you better really, really want to be one. You should not be starting a marketing agency no matter what the opportunity is for any reason other than you were just put on this planet to be a marketing agency. You love marketing, you love doing it for other companies, you want to be a become a serial entrepreneur, and you want to learn how to uh you want to learn how to be a successful entrepreneur faster than any other way that you could possibly do it, and that would be being a marketing agency, getting down all of the sales and online strategies needed to sell products, and then you can open up your own company is a great way to do it. Just work with companies that already exist, that already have a product that's ready for sale, and just master the marketing, and then when you start your own business, you've already got the main piece of the puzzle figured out. If that's you, you should absolutely start a marketing agency. However, if you are not super keen to learn online marketing, you don't really have much trouble with tech stuff, you love marketing, you have a passion for it, it excites you. You have so much fun either creating websites, creating ads, launching ads, or all of the above. Unless you really love the work, you should not be doing it. And the reason why is because there's enough people who do love the work, there's enough people who are very established marketing agencies, such as myself, that have great pricing structures. I charge based on performance in almost every like almost every single time that I'm able to charge based on performance, I I will do that kind of deal with people. And everyone loves that, right? You can't lose. Like a lot of marketing agencies out there will charge uh a lot of money up front to do some really shitty work that um you know really doesn't give people results, and their plan is just to keep it up as long as they can until the the business owner goes away. But it's also because they don't really know what they're doing, they don't even know any better. So there's a lot of crappy agencies. A lot of these clients have had terrible experiences. So to come out and say, I'm gonna be a marketing agency, I have no skills, I'm brand new to this, but I'm gonna offer my services for free, which has been what most of us have been doing, what a lot of marketing agencies have been doing over the last 10 years, even that pitch is very much dried up at this point because they don't want to work with a fourth marketing agency who's brand new that just wants to fuck around with their business, even if it is free, even if they are saying, Yeah, you just pay for the ad spend, I'm gonna do your ads for free for an entire month. I have zero experience, I'm just trying to build up my portfolio. That used to be a good pitch. People used to say, All right, hey, if you're gonna do it for free, I'll give you a chance, right? That sounds good to me. But at this point, they're like, I'm I'm done giving out the chances. I've I've worked with enough agencies that have more experience than that, even, and they still weren't able to get results for me. So it's very difficult to come out and even offer services for free for learning it. What I would tell you is that working for a marketing agency is one of the best opportunities out there, okay? And you really will be as close to being an entrepreneur as it can get without owning your own business. My company, which I'm not hiring right now. Sorry, that would have been a great time to say that I am hiring. Although you're always welcome to message me and say, Yeah, Derek, I want to work for you. I'm gonna be the best employee you ever have, put together a little pitch. You know, you can always um let me know. Uh right now I've got uh a team that is that is full. They some of them can take a little bit of extra work on, so that would be the priority, but you never know. I'm I'm getting bigger and bigger every day. I'm I gain another 10 to 20 subscribers on YouTube every day, probably a couple on the audio podcast. And hey, things take time, but uh I've been growing exponentially and ideally will keep going. So maybe I'll have a job opportunity for you. But that's how you can work with an agency that already has the clients. You just come in and you learn all the the work and you work directly with the agency owner and you get all the best skills, and then you can go into being a marketing agency on your own. So, first off, I just want to say that the marketing agency opportunity, as well as the influencer opportunity, as well as the Amazon FBA opportunity, as well as a drop shipping opportunity, as well as all of these major business models that you hear about, they all can exist. Um, they they all can work, but you just gotta know it's not gonna be none of them are like first-year success kind of stories. Like it's very difficult to do so without a lot of passion being behind it. We recently talked about the creating websites and selling those AI-generated websites to businesses. That's a great business model. You're still competing with the hundreds of people that are out there starting to do that this year, and also the established marketing agencies that are doing that. So it's fine. Like you there's gonna be competition. Everything in life is hard, everything in life that will have any kind of real meaning to you in the end, and also that will be very fruitful and potentially lead you to riches, will have uh it will be very difficult, right? The um I will say, just a quick side note, there's always a high barrier to entry to anything that will make you a lot of money. The the awesome thing is that there are actually a lot of business opportunities where the only high barrier to entry is having a lot of money. So there's some businesses that are actually not that hard to do for marketing, that are not that hard to do for client retention, like you, like maybe a car wash, right? Like, what's the problem? You just need a lot of money. You just need a lot of money to start that car wash, and then once you do, if you put in the right location, then you got a a great business, right? A very hands-off business that should be consistently cash flowing, that is not too much uh at worry for competition and and such in the future, like it's a pretty good business, but the high barrier to entry is just having money. So it's very important that if you are broke, that you get money because money leads to more money. Having money is the easiest way to make money. I know that sounds obvious, but it really is, and you being being broke is the fastest way to get broker, right? You start take go doing things on credit, you start um getting stressed out so that you are aren't able to sell as much, you might have interest working against you, you uh are obviously not able to invest and put your money in places where it earns interest, so there's the massive opportunity cost there, you can't invest in yourself, you you get it, but money begots more money, and the lack of money begots uh you know losing money even faster. So you really gotta be on the other side of that equation as quick as you can be. So here's some businesses that you can start that would be uh that is really where you should put your focus at. Because I know that everyone is telling you, including myself, start a marketing agency, do this opportunity. Let me show you what is really how can what it like the where the real opportunities are that you can make money this year. You have to genuinely be creative, okay, is is part of it. Um, is one side of it that you'd have to invent something that is new, that is fresh, that is needed by your local area. And I'm gonna give you an example, and then the other one would be starting a uh physical service business. So I have a friend that started a mobile detailing business and he's doing really well. I also had a friend that started a cleaning service, um, and he's doing really well too. He just passed over 20k, and he's only like in his sixth month of doing it, and he was just able to find some cleaning crews to hire, and he was able to just get the marketing down, list his services, and then he's really good at managing a CRM, emailing people, calling people, sales. He he was able to take his skills. He's my friend from my Cut Co sales job before, so he was able to take a lot of his sales skills, which you know is mostly just customer service skills and knowing how people work, but he was able to do that and bring it to the market, and he's doing really well. He's getting customers on retainers, he's getting them on subscriptions, he could probably acquire another 30 customers and uh already be pretty set, right? He can if he gets another 30 monthly clients, then he's already gonna be getting into like the 30, 40, 50k range real soon, and it's very scalable, but you're you're basically coming to a market where the laborers are rarely marketers, is what is really going on there, right? The laborers in that certain market are rarely marketers. For instance, I just hired a company to mow my lawn, and we had to reach out to like three or four companies, and then they would slowly get back to us and tell us they're all full or we can do it, but it'll be today tomorrow, and then they don't come that next day, and then they say, Hey, sorry, we book overbooked ourselves, we need to come the next day, and you just kind of deal with a lot of businesses that are like really not on top of their marketing and their scheduling. And you can come in and just say, Hey, the barrier to entry in this space is just being the best at marketing, being the best at customer service, and uh not having to compete on the price, right? Not coming in and saying, let's let's just compete by being the lowest price, which is what a lot of the people in that industry are doing, which isn't the best, right? Because you have all these other people to compete with that are just trying to go really low on their price. But you want to find a way that you can be more uh a little bit more than the rest of the market, but then provide some extra service, some some extra customer service that builds that loyalty and kind of just play off of the cons of hey, a lot of these other lawn mowing companies have great rates, but then everyone signs up with them and they overbook themselves, and then they're always gonna be late to getting out to you, right? You could say something like that, and I'd be like, hey, that's true. I did run into that. I would rather pay an extra five dollars per per mow just to make sure that you guys are here on time and uh and and it's more accountable and that you're able to hire better employees because you're paying them slightly more, right? Those are all things that you could design a business around, but like starting a lawn mowing business, starting a cleaning business, starting a handyman business, whether you're the handyman or you're just the guy who gets the jobs and then facilitates it. And even if you pay them like 70%, 50%, usually 50% is the max that you can pay, by the way, that works out for most businesses, for sales commissions, for all these companies, like it's very, very difficult for them to work paying more than 50%. But then you also have something like Uber that pays 80%. So it is possible, but yeah, if you can just be good at marketing and then find a market where there's a lot of money moving around, there's a ton of customers that simply just research hey, I need someone to mow my lawn and sign up. There's not much to it, and then you can just focus on listing your services on things like um man, what is that app called? Uh oh man, it's on the tip of my tongue. Oh my gosh, I'm so close to thinking of it. But there's an app I'll put in the description if I'm not able to think of it by the end of this episode, where my buddies that have the cleaning company and then the mobile detailing service, they just list their services on there, and they found quite a bit of clients just from listing their services on these public service sites. So they're really not that crazy to get going, and they also don't take that much upfront cost, even though it still could be about five to ten grand in the end, because there's always a little bit more to it, but it certainly is a business that you can start for under 10 grand. Now, the other thing that I alluded to was being completely original, right? And this is where it's hard. Uh, you're you're not selling a proven product, you're just coming in and and really guessing on something. But my friend brought to me a very original idea yesterday that I'm gonna share because I know that sharing business ideas is actually not that scary, um, even though a lot of you are entrepreneurs looking for business ideas. This is something that you'd really have to commit a lot of your life to, and you'd have to live in Denver. And uh yeah, I'm gonna take the risk. Sorry, Taylor, I'm gonna put your business idea out there. But he was saying, and so in Colorado, if you ask, like, what color what food is Colorado known for? Rocky Mountain Oysters is like one of the only things that Colorado is actually known for that is totally just like you know, based on the area, it's obviously named off the area, and Rocky Mountain oysters are bowl testicles that are fried, and uh because it's a fried food, it tastes like whatever, right? It tastes like you know, fried chicken anyway, so it's really not even that uh uh crazy. But what's funny is that there's only a couple restaurants that you can actually even get this at. Like for obvious reasons, a lot of restaurants don't actually serve it, like it's not at all common to find. And he's like, dude, like I mean, we should have it, like it should be available in Denver. And like, I I don't there it's like two random cities that are like far from Denver that I know has a place that like specializes in Rocky Mountain, Rocky Mountain oysters, but other than that, like you you really don't find them anywhere. And tourism, like you know, when it whenever you come to a new area, you're just like, Yeah, what's the food here? Let me try it. And it's also kind of a gag, right? Like, it's it's it's kind of funny. It's like, oh, I'm gonna try the Rocky Mountain oysters, like, and uh, yeah, it's just uh it it should be available, right? And I was like, dude, that's actually a really good idea. Like he he wanted to start like a little food cart doing those, and I'm like, those are easy to make, those are probably like super cheap because you're like the only one selling it. You can kind of denote the price. Like, that's actually a really great idea that I told him um that he had there, and um, and uh yeah, so sometimes like at this point, like it might just be a completely original idea, it might be something that is very weird sounding that you're not sure if it will work, but catering to like if you live in an area with tourism, there's always opportunities to kind of just be like, what experience can I sell tourists? Because tourists are operating on a different sense of money, they are not really thinking about um like oh how much is it? Uh I don't really know if I want to do that, right? They're they're more thinking like, well, you gotta try it while you're here, you gotta do it. How much is it? 85 bucks to go to the top of this building and and see the highest view in the city? Okay, there it eighty-five bucks it is, right? They they they're working with a different kind of money, so it's it's not a bad idea to think what could I sell to tourists? Um, if you if you do have that in your area. And in Denver, we don't have a ton of it, but there's enough of it, and really like we should people should be able to find the only food that call is famous in Colorado in the biggest city in Colorado, should just exist, right? Um, but that would be something that he could start for under $10,000, very likely, and then uh maybe under $15, the food card and everything, and um it would be a great thing to test. It would be a good idea to just go out there and just start uh, you know, just seeing if it would work. But sometimes like ideas like that is what the world needs, like something that is actually innovative, actually original. It's it's a lot more difficult to find these opportunities. But what I will say is that he he's lived in Colorado his whole life, right? So that's kind of why he was able to spot this opportunity because it actually the restaurants did offer it in the past, and they just kind of stopped offering it at a lot of them. But at this point, it's like you can't get it anywhere, and it was never really made as like a thing, like, oh, it's like this Instagramable thing that you could like post about and like this interesting thing that you did. It was kind of just like you would go to a mom and pop restaurant and they would just have it as an appetizer, but they didn't really it wasn't around at the time of like social media, and they didn't make it into like uh you know a post-worthy thing. I know it still is weird, right? So I don't know if it would work out, but I think that is a really solid idea. That is about as solid of an idea as you can have when it comes down to these like completely original things that um you know you want to just put out on the market and uh just see how it works, and you don't have to break the bank to get it out there. And I would really tell you, you know, especially until you are rich or you do have quite a bit of business experience, you should be looking at businesses that you can start for under 20 grand or even under 10 grand, really, under five, even you should really look at businesses that you can start for uh a very small amount of money because there's just a lot of beginner skills that you will learn from running any kind of business that you'll just want to have that base level of skills before you really start actually taking risks. Like entrepreneurship is about taking risks, but it's also not about taking risks, it's about being sure about what you're doing with your money, it's about really validating ideas before you've invested in them. It's about really getting a foothold and getting your skill sets uh solidified before taking on these giant projects. So there you you're gonna be risky just in the fact that you are starting a business, but you should be trying to take really as little risk as possible in what you are doing. So those those are my two ideas. Start a business where you come into a space where there's money moving around, there's sales happening, but a lot of the laborers in that market are not really marketers, okay? And that's gonna be most like blue-collar work. They they usually don't want anything to do with the computer or finding clients, they just want to show up and do the tree removal, they just want to show up and do the landscaping. So if you can come in and uh you know start one of those companies and then just middleman the labor, but then you be the marketer instead of the way that they're doing it, which is they are the laborer, and then they are middlemanning the marketing, uh, there's actually a lot more money to make, I would um I would say. There's a lot more scalability to being the person who owns the marketing side of it instead of doing the uh the physical demanding manual labor. So look at that. Otherwise, you're gonna really want to just always keep your eyes peeled to truly original, unique ideas, and uh go out there and try to validate it by getting sales as quick as possible, is what you'd want to do. You want to go out and get a sale as quick as possible. As soon as you get a sale, then it really is off to the races. You don't need to do surveys, uh those those only help so much that and that's not nearly as effective as coming out and trying to sell it. You get a sale to outside of friends and family. That that is the b best proof that you can ever get for a business. So that's what I got for you today. Good luck out there starting your own businesses. And of course, if you could use my help, then book a call below and uh we will talk for free about your business. I do have things to sell you potentially, even if it just be more consultation calls. But either way, I'm happy to help out as much as I can for free. So talk to you later.