All right, so get this right.
We're talking about some serious cash today.
Oh, yeah.
Yeah, like potentially making your first $100,000 or more,
we're diving deep into the world of starting
your own business in 2024.
And we always pick the most interesting sources
for these deep dives.
Of course, of course.
Well, this time around, it's all based on insights
from Sarah Finance.
Oh, I've heard of her.
Yeah, super successful entrepreneur,
and she actually laid out her top five
picks for businesses to start.
In a YouTube video, and get this,
she's making over $72,000 a month from these businesses.
Wow, that's impressive.
I know, right?
So what's fascinating is Sarah is all
about leveraging the power of AI and the internet
for these businesses.
And she even suggests that this kind of opportunity,
like it might be fleeting, you know?
Oh, interesting.
Almost like a golden age.
That won't last forever.
That's a bold statement.
It is, right.
So the pressure's on, she's making bank.
But is it replicable, right?
That's the big question.
So let's unpack her top five business ideas
and see what's what.
Sounds good to me.
OK, so first up is content creation.
This is Sarah's absolute favorite.
This is her top pick.
And she pulls in over $50,000 a month from it.
Wow, so she's really putting her money
where her mouth is on this one.
She is.
OK.
But is that realistic for someone starting from scratch?
That's the beauty of it, right?
Content creation is so beginner-friendly.
Think about it.
No upfront costs.
You could work from home in your pajamas if you want to.
And the income potential is hugey-y.
I mean, look at people like Mr. Beast, Graham Stephan.
Oh, yeah, yeah.
They built massive empires starting as content creators.
Yeah.
And it's like, if you're already scrolling through TikTok
and Instagram anyway, it's not that big of a leap
to start creating your own content, right?
Totally.
But how do you actually make money doing this?
That's the million-dollar question.
It is.
Well, Sarah mentions a couple of books
that I'm guessing are probably a good place to start.
Have you heard of Show Your Work by Austin Cleon?
Yes.
And this is Marketing by Seth Godin.
Yeah, I have those on my shelf.
Oh, nice.
Have you checked them out?
I have, yeah.
Show Your Work, it's really great for getting over that fear
of putting yourself out there.
Right.
Cleon's whole thing is that sharing your process
can actually attract an audience.
Oh, interesting.
Even the messy parts.
OK.
And then this is marketing.
It's more about the strategy behind connecting
with your audience, offering them genuine value,
that kind of thing.
So it's not just about making funny videos or whatever.
Right.
It's about understanding your audience and building a brand.
Exactly.
OK.
Now, in terms of the actual content,
Sarah suggests starting with short form videos on platforms
like TikTok, Instagram Reels, Pinterest.
Pinterest too.
OK.
Yeah, definitely.
Think bite-sized, attention-grabbing stuff.
Then once you've built a following,
you could explore longer form YouTube videos.
Got it.
So short form first, long form later.
But there's that age-old question.
What's that?
Do you have to show your face?
Oh, that's a great question.
It's something a lot of people struggle with.
Yeah.
You know?
And Sarah actually emphasizes that showing your face
can significantly boost your audience growth.
Oh, really?
Yeah.
People connect with faces.
Yeah, that makes sense.
It's just natural.
Yeah.
But then on the flip side, you're losing a lot of anonymity.
Right.
So it's a trade-off.
Definitely a trade-off to consider.
Yeah.
But let's get to the good stuff, the money.
OK, yeah.
How do content creators actually get paid?
So there are a few main avenues for this.
One is becoming an affiliate for products or services
that you love.
OK.
So you're basically promoting other people's stuff
and earning a commission on any sales that you drive.
Right, right.
You can also secure sponsorships from brands.
Oh, OK.
Who want to reach your audience.
And then, of course, if you're on YouTube, there's ad revenue.
Oh, yeah, yeah.
Which can be pretty lucrative.
So there's potential to make money in multiple ways.
Exactly.
That's one of the things that makes content creation so appealing.
That's pretty cool.
OK, so on to business idea number two, Amazon products.
This is where things get a little tricky, right?
Yeah, potentially.
Because I know Sarah mentioned she hasn't personally made money
from the traditional Amazon FBA route.
Right.
Just to clarify for our listeners,
FBA stands for fulfillment by Amazon.
Yes.
Which is where you basically send your products
to Amazon's warehouses.
And they handle all the storage and shipping
and customer service.
Right.
It's a huge industry.
Don't get me wrong.
But Sarah points out that it can be quite complex.
Oh, yeah.
And competitive, especially for beginners.
For sure, especially now.
Yeah.
So what's the alternative?
So she recommends starting with something called Amazon KDP.
KDP, OK.
Which stands for Kindle Direct Publishing.
Oh, got it.
This is all about selling digital products.
OK.
Specifically low content books.
Things like journals and planners and notebooks.
The beauty of it is you don't have
to deal with any physical inventory.
Right.
Amazon handles everything.
OK.
So no warehouses full of journals.
Exactly.
Gotcha.
But there's got to be a downside, right?
Well.
It can't be that easy.
You're right.
There is a catch.
OK.
The digital product market on Amazon
is incredibly saturated.
Oh, OK.
You need a seriously top notch product
and a solid marketing strategy.
If you really want to stand out from the crowd.
So maybe not the best option for a complete newbie.
Potentially not.
Yeah.
Maybe you need some experience selling on Amazon first.
Yeah.
That's something to consider.
Right.
Definitely.
I mean, think about your strengths and comfort level.
OK.
Before jumping into this one.
Do you have a knack for design and eye for what sells?
OK.
All right.
So let's move on to business idea number three.
OK.
Shopify dropshipping.
All right.
Now this one's all about building a brand, right?
Exactly.
With dropshipping, you create your own custom Shopify
website to showcase your products.
But here's the kicker.
You don't actually hold any inventory yourself.
Oh, OK.
You partner with suppliers who handle the storage and shipping.
OK.
Interesting.
Directly to your customers.
So I'm the face of the brand.
Yes.
But someone else is doing all the heavy lifting
behind the scenes.
Exactly.
What's the catch?
Well, one potential downside is dropshipping
often requires a bit of an upfront investment.
OK.
You'll need to pay for your Shopify website,
potentially some marketing costs,
maybe even a few hundred dollars to test different products.
So not entirely free content creation.
Right.
Yeah.
But it's still relatively low risk compared to, say,
opening a brick and mortar store.
Well, for sure.
Much lower risk.
Yeah.
OK.
What does Sarah say is the key to long term success
with dropshipping?
She stresses the importance of finding a truly great product
that you genuinely believe in.
Right.
It could be tempting to just chase the latest trends.
But she says focusing on one high quality product,
that solves a real problem, is the way to go.
She even gave an example of a facial razor.
Oh, yeah.
That went viral on TikTok, right?
Which led to tons of sales for dropshippers
who are selling it.
So it sounds like, again, content creation skills
can be a huge advantage here, too.
Absolutely.
And that's something we're seeing across the board
with all these online businesses.
Right.
They often work best in synergy with each other.
Interesting.
It's like a web of entrepreneurial opportunities.
Totally.
But here's a question that keeps popping into my head.
OK.
Is dropshipping truly sustainable?
Or are you just setting yourself up for disappointment
when the next product fad comes along?
That's the million dollar question.
Right.
And it's something we should definitely explore further.
OK.
So we've covered content creation, selling on Amazon,
dropshipping, all of which have the potential
to bring in some serious cash.
Yeah, for sure.
But I'm curious about this passive income aspect
that Sarah mentioned.
Oh, right.
Is that something that's achievable with any
of these businesses?
Absolutely.
And that leads us perfectly to our next business idea,
Pinterest affiliate marketing.
OK.
This is where Sarah really highlights that potential
to earn while you sleep.
Wait, hold up.
She's making over $15,000 a month just from Pinterest?
Yep.
I'm all ears.
But I'll admit, I'm a little fuzzy on how affiliate marketing
actually works.
OK, yeah.
Can you break that down for me and for our listener?
Sure, sure.
Think of it this way.
You're basically a matchmaker, right?
OK.
Connecting people with products or services that they'll love.
You find companies that offer affiliate programs,
which means they'll give you a unique link to share.
And then when someone clicks your link and makes a purchase,
you get a commission.
Oh, OK.
It's like getting a finder's fee.
Right.
For recommending awesome stuff.
Got it.
OK, so where does Pinterest come in?
Right.
I thought that was just for recipes and DIY projects.
Right, so a lot of people think that.
But Pinterest is actually a visual search engine.
Oh, OK.
And it's a gold mine for affiliate marketing.
Interesting.
Yeah, people go to Pinterest to discover new ideas, new products.
OK.
So it's the perfect place to showcase those affiliate links.
So walk me through the steps here.
Let's say I want to give this Pinterest affiliate marketing
thing a shot.
OK.
What do I do?
All right, so first things first.
You need to choose a niche.
OK.
What are you passionate about?
What do you know a lot about?
Right.
It could be anything from fitness to fashion to travel.
You know?
Got it.
Niche first, then what?
Then you find affiliate programs that align with your niche.
There are tons of websites that connect you
with companies that offer these programs.
Impact.com, click bank, or a couple of examples.
OK.
You can browse through different categories,
find products or services that you genuinely believe in,
and that you would recommend to your audience.
OK.
So I've got my niche.
I've found some awesome affiliate products.
Now what?
How do I actually get people to click on my links?
Right, so that's where the magic of Pinterest comes in.
OK.
You create engaging pins, which are basically
visually appealing images or videos that showcase the products
and link back to your affiliate links.
So it's all about creating eye-catching content,
kind of like with content creation in general.
Exactly.
And here's where Pinterest gets really interesting.
OK.
You don't necessarily have to show your face
if you're not comfortable with that.
Right.
You can create beautiful graphics,
find stunning stock photos, or even use video clips
without ever being on camera.
Ooh, that's a game changer for people
who value their privacy.
Right.
Yeah.
But how do you make sure your pins actually
get seen by people?
Right.
So Sarah recommends posting consistently.
OK.
She aims for three to five pins per day.
Wow, that's a lot.
It is.
And you can also use relevant keywords in your pin
descriptions to help people find your content.
Oh, so like SEO for Pinterest.
Exactly.
Yeah.
It's all about making it easy for people to find you.
OK, so consistency is key.
But is there anything else I can do to boost my chances of success?
Well, if you're really serious about making this work,
Sarah offers a dedicated course that
dyes deep into her Pinterest affiliate marketing strategy.
Oh, I got it.
We'll be sure to include a link to that in the show notes.
Awesome.
I'll definitely check that out.
Yeah, for sure.
So to recap, Pinterest affiliate marketing
is all about choosing a niche, finding affiliate products,
creating beautiful tins, posting consistently,
driving traffic to your lengths.
Did I miss anything?
Nope, you got it.
And the best part is, once you've set up your pins,
they can continue to generate passive income for you.
Wait, really?
Yeah.
So I could be earning money even while I'm sleeping
or on vacation or?
Exactly.
Well, you get the idea.
That's the beauty of passive income.
Right.
And it's why Pinterest affiliate marketing
is such an attractive option for so many people.
It's relatively easy to start.
It doesn't require any upfront investment.
And it has the potential to scale up significantly.
Yeah.
OK, I'm definitely adding this to my list
of potential business ventures.
I think you should.
All right.
Now we've got one more business idea
to cover rental properties.
OK.
This one seems a little different from the others.
It feels more traditional, less online business.
You're right.
It is a bit different.
And while Sarah has found incredible success
with rental properties, she owns three town homes that
bring in a whopping $7,700 a month.
Wow.
It's not necessarily the most beginner-friendly option.
Yeah, I was going to say you usually
need a good chunk of change to get started with real estate,
right?
Exactly.
Not exactly something you can do with like $0
in your bank account.
Right, right.
But Sarah does point out the power of leverage.
OK.
Basically, you can use a bank loan to buy a property
and then use the rental income to cover the mortgage payments.
OK, that makes sense.
So I'm using the bank's money to build wealth for myself.
Exactly.
Clever.
But it still sounds pretty risky, though, right?
Yeah.
What if you can't find tenants or the property
needs expensive repairs?
Right.
There are definitely risks involved.
It's important to do your research
and really understand the responsibilities
of being a landlord.
But if you choose your properties wisely
and you manage them effectively,
rental properties can be a fantastic way
to build long-term wealth.
So it's more of a long game, not a quick way to make a buck.
Right.
OK.
What does Sarah recommend for people who are interested
in real estate but don't have a ton of capital to start with?
She suggests building capital through one
of the other business models that we discussed.
Oh, OK.
Like content creation, affiliate marketing, even drop
shipping.
Once you've generated some income and savings,
then you can explore investing in rental properties.
OK.
So it's not an either situation.
Right.
You can actually use these online businesses
to fund your real estate goals.
Exactly.
That's a really interesting perspective.
I like how all these ideas are starting
to connect and overlap.
It's amazing how these different business models can all
work together, right?
It is.
You can start with one, gain some traction,
and then use that success to fuel another venture.
It's like building a diversified portfolio.
But for your entrepreneurial life.
Exactly.
OK.
So we've explored five very different business ideas here.
Yeah.
Content creation, selling on Amazon, Shopify drop shipping,
Pinterest affiliate marketing, and rental properties.
It's a lot to take in.
It is a lot.
But remember, this deep dive is tailored just for you, right?
Right.
So let's take a moment here to pause and reflect.
Out of these five businesses, which one really resonates
most with you?
What excites you?
What aligns with your skills and resources?
And what feels achievable right now?
I love how you put that, what feels achievable right now,
because it's easy to get overwhelmed
by all the possibilities.
Oh, absolutely.
Right.
Yeah.
But the key is to just start somewhere.
Even if it's just taking a small step in the right direction.
Absolutely.
I mean, maybe you're already drawn to creating videos for TikTok,
or perhaps you have a knack for designing beautiful journals.
Right.
Or maybe you're dreaming of building a brand
and selling products online.
Whatever it is, trust your gut.
Yeah.
And explore it further.
Now, I have to bring this up again.
Because it really struck a chord with me,
this idea that Sarah mentioned, that this golden opportunity
to build online businesses might not last forever.
Right.
You think she's right.
I mean, why would this window of opportunity close?
Well, it is a provocative thought, isn't it?
Yeah.
There are a few factors that could contribute
to this potential shift.
I mean, the internet is constantly evolving, right?
Right.
New platforms emerge.
Yeah.
Algorithms change.
What works today might not work tomorrow.
Right.
Plus, as more and more people jumped
into the online business world, competition naturally increases.
Yeah.
It's like a constantly shifting landscape, right?
It is.
And then there's the unpredictable,
like economic downturns, global events,
or even new technologies that disrupt the entire game.
Exactly.
We can't predict the future.
Yeah.
But we can prepare for it.
Right.
By being adaptable, staying informed,
and always being willing to learn and evolve.
So what does this mean for our listeners?
Should they rush to launch a business tomorrow?
Well, not necessarily.
It's more about being mindful, I think,
of that ever-changing nature of the online world, right?
Right.
And not taking anything for granted.
Don't let fear paralyze you.
But don't get complacent either.
So it's a balance.
Yes.
Right.
Being excited about the possibilities,
but also being realistic about the challenges.
Right.
And most importantly, taking action.
Yes.
Because at the end of the day, it's all about doing something
learning from it and continuing to move forward.
Couldn't have said it better myself.
Remember, knowledge is only powerful when you apply it.
Yes.
So we encourage you to take what you've
learned from this deep dive, do your own research,
and start exploring the world of entrepreneurship.
There's a whole world of possibilities out there just
waiting for you to make your mark.
Thanks for joining us on this deep dive
into the exciting, sometimes overwhelming,
but ultimately rewarding world of starting your own business.
We're always here to guide you along the way.
Until next time, keep learning, keep exploring,
and keep those entrepreneurial dreams alive.