00:00it's pretty much that season again where
00:01every single YouTuber is making their
00:03video of what is the best business model
00:05to start in 2024 and everyone of course
00:08is swearing by their own business model
00:11as being the best and while I like the
00:13concept of that type of video I want to
00:15do a little bit different so instead of
00:17covering the business models that I
00:19think you should do I'm actually going
00:20to cover the ones that I think you
00:22should steer clear from in 2024 and I'm
00:25also not going to be talking about and
00:27listing off a bunch of business models
00:28that I've never actually even done I'm
00:30only going to be talking about the
00:32different models and hustles that I've
00:34actually done and have experience in so
00:36I can talk about them so if you want to
00:38avoid just spinning your wheels and
00:39going into 2024 with zero direction and
00:42you also don't want to burn a lot of
00:43time or cash make sure that you pay
00:45attention to this video to set yourself
00:47up and have some direction going into
00:492024 so the first opportunity that I
00:52would avoid is your generic marketing
00:55agency and I'm not saying all agencies
00:57are bad but I'm talking about the ones
00:59that have been overly played out the
01:01agency model is not the problem it is
01:03these generic services that have become
01:06extremely saturated by some of the
01:08programs and gurus out there that have
01:10made it nearly impossible to get clients
01:12for these services and and if you even
01:14want a chance at Landing clients for
01:16these niches you have to just throw out
01:17the most outlandish claims and
01:19guarantees out there my friend calls
01:21this Market sophistication the markets
01:23are so sophisticated now that you have
01:25to make crazy claims to even have a
01:26chance of booking a me and that's why
01:28you see these ads that are like we will
01:29book you 400 appointments in the next 90
01:32days or you don't pay or we'll work for
01:34free for you for 2 years or you know
01:36we'll chop off our arm and give it to
01:38you you know what I mean like these
01:39ridiculous claims that people are having
01:41to make because the market has been so
01:43sophisticated and so saturated that you
01:45just really don't stand a chance if
01:47you're trying to get into one like that
01:48anymore we saw this happen with short
01:50form content agencies and the people
01:52making the hormos clips right and now
01:54it's kind of Shifting to like I can make
01:56you Ean Gods Eclipse right these things
01:57get so saturated so quickly and it
01:59starts off to be like remember when the
02:01original claim was like I can make you
02:03like I don't know like a month of
02:04content in just like two hours a month
02:06or you don't pay and stuff like that and
02:08then it got really saturated and like
02:09it's just we don't need more short form
02:11content agencies now we don't and the
02:13problem that happens is again a ton of
02:15people rush into this Market most of
02:17them suck at it and I don't mean that to
02:19be disrespectful but I mean the value is
02:21not itself just in editing it's in being
02:24able to help your client with
02:26storytelling with ideation and so if you
02:29were just an editor if all you can do is
02:31make Nic looking edits that's not enough
02:33and you're not going to succeed in this
02:35short form content space so you need to
02:37be able to differentiate yourself and
02:38you're going to see a recurring theme
02:40throughout this video of you actually
02:41have to be at the top of your skill set
02:44in order to succeed now the other
02:46problem with the generic agency model
02:48right now is there's more emphasis and
02:51there's more hype around signing clients
02:53than delivering results for clients and
02:55so you see these people that are
02:57constantly trying to sell new clients
02:59and in the meantime they're not focused
03:00on fulfilling for those clients and
03:02actually providing an exceptional
03:04service and so then they're not able to
03:06retain their clients and they're in a
03:07constant Rat Race still of signing a
03:09client losing a client signing a client
03:11losing a client and so they never
03:13actually make that much money they're
03:15always having to put out fires they're
03:16always stressed and they're ultimately
03:17not running a real business or providing
03:20any value the only people that I have
03:22seen succeed in the agency space are
03:25people that Focus purely on client
03:27results and they don't even need to do
03:29any selling they have clients flocking
03:31to them waiting to be you know allowed
03:33to work with them because one they're so
03:36good at what they do they are top at
03:38their skill set and so they have client
03:40results you know lined up they can show
03:42you results after results after results
03:45and so people want to work with them and
03:47they have customer lifetime value now I
03:49don't remember the exact formula that it
03:51was but I was at one point I was really
03:53into this um how like actual math
03:55affects business and there was this
03:56formula that basically calculated
03:58business growth and the number one
04:00factor that can determine a business's
04:02growth is by having low churn everything
04:04else does not is not as impactful at
04:06growing a business as lower insurance so
04:08every single agency owner that I know
04:10that is super super successful they
04:13purely focus on retaining clients and
04:15making more out of the clients they have
04:17rather than just trying to go sell a
04:19million clients not care about lifetime
04:20value and not deliver results so the
04:23second business model that I would avoid
04:25in 2024 is reselling this is actually
04:28the first thing that I did in high
04:29school and it's not that it's a bad
04:31business model but it's relatively low
04:33margin and it's not something that's
04:35really worth it I think now with all the
04:37opportunities that are available online
04:39basically what I used to do is I would
04:41go into sneaker stores and drop days and
04:42I would try to buy as many as I would
04:44and you know make my margin and in order
04:46to make a substantial amount of money
04:48with reselling is you need to do extreme
04:51volume because your margin might only be
04:53like 10% and so even if you were doing
04:55$100,000 a month which you also need to
04:57have either the cash or credit available
05:00to buy that much in inventory your
05:02margin is very very low and so it's
05:04similar with Amazon like your margin is
05:06very low so you have to have super high
05:08amounts of volume to actually make a
05:10decent amount of money and so it's just
05:11something that I would steer clear from
05:13because I think there's better
05:14Alternatives that you can focus on
05:15online they require less Capital up
05:17front and will give you a better shot
05:19and making more money long term as well
05:21when it comes to transition into more
05:22leveraged models you're also a little
05:24bit out of control here you cannot
05:26control the fluctuations in prices and
05:28things like that and so I like to be you
05:30know completely accountable and
05:32responsible for myself and so I want to
05:34control as many variables as I can so
05:36that way whether I'm doing well or I'm
05:37doing horribly everything is on me the
05:39third business model that I would avoid
05:41is similar it is Drop Shipping again it
05:43is horrible margins and I know you can
05:45have decent margins with like Tik Tok
05:47organic Drop Shipping now there's Tik
05:48Tok shop and I get it but I can tell you
05:50I know virtually no one that actually
05:53makes good money Drop Shipping like
05:55similar they'll show 100K in a month
05:57screenshot and it's like $10,000 profit
06:00like at best like the margins are pretty
06:02terrible and it's also a horrible
06:04business to start as your first business
06:06because there's actually so many moving
06:08parts and skills that you need to know
06:09to be good at it you need to understand
06:11product research you need to be able to
06:12build a high converting Shopify store
06:14you either need to know how to run ads
06:16or make high converting Tik Tok content
06:18there's Logistics you have to negotiate
06:20with your suppliers you need to know
06:22copywriting so there's all these skills
06:24that you need to know that if you're a
06:25beginner trying to get into this you're
06:27going to get overwhelmed you're not
06:28going to be good at all these different
06:29things you're better off trying to get
06:30really good at one skill so Drop
06:32Shipping is not a good thing to start in
06:34because you're more than likely going to
06:36fail and lose money and waste precious
06:38time trying to actually make money and
06:40so I tried Drop Shipping as my first way
06:42of making money online in 2019 and this
06:45was before Tik Tok organic so I was
06:47doing it with Facebook ads and exactly
06:49like I said you know I thought I found
06:51these products that people were telling
06:52me were winners but I didn't know how to
06:54write you know copy for Facebook ads I
06:55didn't know what types of creatives to
06:57use I didn't know how to build a high
06:58converting Shopify store and how to make
07:00a high converting landing page and all
07:03these different things like I didn't
07:04know anything about email marketing
07:05there's so many moving Parts when it
07:08comes to drop shipping that it is
07:09probably the worst business model you
07:11could start if you've never made a
07:12dollar online before and you're trying
07:14to make your first little bit of
07:15Internet money so I know there's a lot
07:17of hype around it and you know you
07:18probably see a lot of these videos
07:20online of people say like oh this life
07:22is thanks to drop shipping it's not okay
07:24I promise you I've seen a lot of these
07:26people in real life it's not okay so I
07:27just mentioned a few business models
07:29that I would avoid and that I would not
07:30start so now you're probably like okay
07:32Alex you just kind of told me not to do
07:34a lot of things that I've seen before
07:36what should I focus on what should I do
07:38in 2024 and so I'm going to give you a
07:39few options because I do not believe
07:41there is one thing that every single
07:43person watching this should 100% do and
07:46you're probably thinking oh this is
07:47where he's going to tell me to start a
07:48software company of course actually not
07:50going to do that I think software is an
07:52amazing business model and again I still
07:53argue probably the best one if on stage
07:56two or three of your entrepreneurial
07:58journey I do not think it's wise to
08:00start if you're on phase one cuz similar
08:02to drop shipping there's a few more
08:03moving parts that's it's going to be
08:05hard for you to learn starting from
08:06scratch and it's also a slow burn and
08:09it's more of a long-term play so you
08:10need to be at a point where you can
08:11commit to it for a couple years to
08:13really see the rewards of software and I
08:15think it's important to maintain and
08:17manage the expectations of software as
08:19it's a big part of my brand and I
08:21wouldn't want to misguide you so what I
08:23be showing you instead is a handful of
08:25opportunities that I think will be
08:26massive in 2024 that are not software so
08:29one business model that I would
08:30recommend going into 2024 is a sales
08:33agency and this is actually something
08:35that I ran at one point and so basically
08:37what you do as a sales agency is you
08:39find business owners that need sales
08:40reps and you basically explain that you
08:43have a sales agency and you say hey we
08:44will build out your CRM and we will
08:46staff you with some sales people and
08:49basically I'm going to manage your sales
08:50process for you so you might build out
08:52their CRM you might hire a Setter in a
08:54closer for them and you manage that
08:56sales team and so you know say we'll do
08:58this all for just 15% commission I'll
09:00manage everything and you tell your
09:02sales team hey you all are going to get
09:0410% and I'm going to get 5% so this is
09:07something that I ran at one point and
09:09it's very very profitable especially if
09:11you can land a client that has like a a
09:13business that's growing quickly like
09:14whether it's an agency a coaching
09:16business info business and you basically
09:17just manage their entire sales process
09:20it can be very lucrative because you're
09:21getting a percentage of the growth that
09:23you are building for people and because
09:25of this it also makes it an easy sell
09:27because again you are just getting
09:29percentage of the extra money that
09:31you're making them and so it's an easy
09:32sell and you can charge up front as well
09:33you can say hey it's 5 grand up front
09:35for me to build out your CRM and all
09:37these different things and whatnot but
09:38um for the most part you're making your
09:40money on the growth you know building
09:42for them and taking a percentage of that
09:43making it a very lucrative business
09:45model and I have a few friends doing
09:47this right now that are absolutely
09:48killing it and making a lot of money
09:50with their sales agencies number two for
09:52business models that I would recommend
09:54is being able to build custom gpts and
09:57this kind of Ls into like the whole AI
09:59automation thing which is very quickly
10:01becoming saturated but I believe if you
10:02can become one of the best people at
10:05building custom gbts and really learning
10:07about the different AIS out there so not
10:09just open AI but looking at some of the
10:10other ones too right because open AI is
10:12all the hype but there's some other ones
10:14out there as well that people are
10:15leveraging really you know cement
10:17yourself as an authority in the AI and
10:19automation space and find one type of
10:22business that you can get really good
10:24automating workflows for and so this
10:25could be like you know you could be the
10:26go-to guy for chiropractors or you know
10:29dentists or agencies I would try to go
10:31for one Niche I wouldn't go Broad and
10:32say hey I can do automations for anyone
10:34I would try to be the go-to guy for
10:36automations for a specific Niche and I
10:38think it's a very valuable business and
10:40especially think for almost like again
10:41chiropractors and restaurants and these
10:43businesses that are you know kind of
10:45stereotypically less Tech enabled I
10:47think if you can be the person that
10:48brings Tech into those businesses to
10:50help them run either more profitably
10:52safe time Etc I think you can make a lot
10:54of money doing this and again I think
10:56it's not super saturated yet but it's
10:58starting to get close and so the third
11:00business model that I'm going to
11:02recommend is becoming a no code
11:04developer specifically learning how to
11:06build on bubble.io because it's the best
11:08no code Builder we're in a world where
11:11everyone is a Visionary and everyone has
11:12these cool and shiny ideas but there's
11:15not a lot of technical people in the
11:17background that can actually go and
11:18bring these ideas to life and especially
11:20like with the rise of AI no one is
11:22really thinking about learning how to
11:24build on no code tools everyone is kind
11:25of flocking to Ai and so I think no code
11:28is kind of like Hidden Gem that people
11:30can learn and really take a big
11:32advantage of being an early adopter and
11:33first mover in 2024 and I think there's
11:35a lot of different opportunities here
11:37you can reach out to creators and
11:39basically do research on their audience
11:40and be like hey I will build a software
11:42for you that I think your audience will
11:43use and I'm going to charge you three to
11:455K up front and then we'll do like a
11:462080 split and I'll be your technical
11:48partner or you could just be a
11:49freelancer and you could have like a
11:51kind of like a standardized product that
11:53you sell like you you could make uh
11:54client portals for agencies and you
11:56could have that as kind of like a
11:57standardized offer because a lot of
11:59agency owners don't have client portals
12:00and they should and you could say hey
12:02I'll build these for you for 3K a pop
12:04and you could just basically reach out
12:05to a ton of agencies that's a very easy
12:07offer that you could just blast out a
12:08ton of cold emails LinkedIn DMS you know
12:10make content for etc etc there's a lot
12:12of different routes or you can just make
12:14content like I do and try to find people
12:16that want to build their different
12:17software ideas and build it for them and
12:19I can speak a lot about this because I
12:20run a bubble agency and we actually have
12:22a $10,000 minimum and we've charged you
12:24know all the way into you know 42 to
12:27like I think we had one build even go up
12:28to7 ,000 building on top of bubble.io
12:31it's also kind of cool because this
12:32isn't like a very gray area skill where
12:35it's like you know someone could say
12:37they're a copywriter and it's kind of
12:38like gray because everyone can like
12:39write words on a paper but like not
12:41everyone's like good at it being a
12:42bubble developer is a little bit more
12:44black and white like of course there's
12:45still some that are better than others
12:47but you either kind of don't know how to
12:48build on Bubble or you do it's a little
12:50bit more black and white than some of
12:51these other skills and so for that
12:53reason I think it's a little bit more
12:54appealing but and I can also tell you
12:56from my own experiences there's a huge
12:58supply and demand and imbalance like
12:59there are way more businesses looking
13:01for bubble developers than there are
13:02talented bubble developers out there so
13:04if you can learn this skill I think it's
13:06much easier to get clients here than all
13:08these other things because of that
13:10Supply demand and balance like I get
13:11hundreds of DMS a day from copywriters
13:13from closers from sets because they've
13:15become very saturated spaces but I don't
13:17ever get DMS from Bubble developers okay
13:19so it's like how do you go about
13:21learning this skill right so you can
13:22basically go down the YouTube rabbit
13:24hole and you can piece together a bunch
13:25of tutorials and things of that nature
13:27go on YouTube practice yourself go on
13:29YouTube practice yourself things like
13:31that there's also acmy out there where
13:33you can learn how to build on Bubble or
13:34we have a bubble boot camp where it's 12
13:36sessions that are recorded um or live
13:38depending on when you're seeing this
13:40that you can learn how to build on
13:41Bubble the last two weeks we actually
13:43built an application together so if you
13:45want to learn how to build on Bubble
13:47through our boot camp I'll put the link
13:48in the description for you to check out
13:50as well and honestly one of my favorite
13:51Parts about learning how to build on
13:53Bubble is the different options that it
13:55gives you after because obviously
13:56selling your time for money is only
13:58scalable for you know so long you know a
14:00certain amount right and so you
14:01freelance on Bubble for a little bit and
14:03then after that it's like you could
14:04transition into a bubble agency or you
14:06could go build your own software idea
14:08and not have to hire a bubble developer
14:10you could run a venture Studio where you
14:12know you take you build ideas for like
14:14less cash and maybe a little bit of
14:15equity you could partner with creators
14:17kind of like I mentioned earlier so I
14:18feel like it gives you a lot more
14:19Avenues and it gives you a lot of
14:21Leverage when you know this skill
14:22because not a lot of people have it
14:23right now I feel like this is kind of
14:25like what Drop Shipping was in 2016 2017
14:28like not many people were doing it and
14:29so that's why I'm really bullish on
14:31learning how to build on bubble and if I
14:32was starting over from zero it is
14:34probably the skill that I would learn
14:35and so those are some of the business
14:37models that I would personally avoid at
14:39the beginning of this video and then the
14:40last couple are the ones I personally
14:42think are great ideas to start in 2024
14:44and again if you do want to choose
14:46learning how to build on bubble.io I
14:47think it's a great skill then I'll put
14:49the link in the description to check out
14:51our no code boot camp because we're
14:52going to be adding some of these other
14:54skills into it as well learning how to
14:55do custom gbts learn these other not
14:57code platforms as well so will be in the
14:59description for that and besides that if
15:00you like my content I would appreciate
15:02if you like and comment on this video
15:04subscribe to my channel and send this to
15:05a friend that you think could benefited
15:07from this and outside of that I'll catch
15:08you guys in the next video
