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If I Had To Start A Business In 2024, These Are The Ones I’d Avoid

Alex Heiden2024-01-01
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8K views|4 months ago
💫 Short Summary

The video emphasizes the importance of avoiding generic marketing agencies in 2024, focusing on retaining clients over acquiring new ones, mastering one skill instead of spreading thin, and exploring lucrative business models like sales process management and custom GPTs. Specializing in automations for specific niches and learning Bubble.io development are highlighted as profitable opportunities for future success in business endeavors. The scalability of transitioning from freelancing to building software ventures is also discussed, with an emphasis on the potential of mastering Bubble.io for long-term success in the industry.

✨ Highlights
📊 Transcript
Importance of avoiding generic marketing agencies in 2024 due to oversaturation and exaggerated claims.
00:59
Market sophistication leading to extreme claims to attract clients, resulting in a lack of success in certain niches.
Short-form content agency market facing saturation issue, requiring unique skills beyond editing.
Success in competitive industries demands top-tier skills and focus on delivering results over signing new clients.
Emphasis on the importance of differentiation and expertise to thrive in competitive industries.
Importance of client retention and maximizing value for business growth.
04:00
Low churn rates are key to success in agency ownership.
Reselling and drop shipping have low margins and high volume requirements.
Online opportunities with lower upfront costs and better long-term earning potential are preferred.
Models with more control over variables and accountability are recommended for success.
Challenges of starting a drop shipping business.
06:40
Drop shipping requires skills in product research, Shopify store creation, ad running, copywriting, and more.
Not recommended for beginners due to complexity and potential for failure.
Focus on mastering one skill rather than trying to do everything at once.
Speaker shares experience with drop shipping and suggests exploring other opportunities like a sales agency or software business.
Lucrative business models discussed include managing sales processes for clients and taking a commission, building custom GPTs for authority in AI and automation, and becoming a no-code developer on platforms like bubble.io.
09:07
Specializing in automations for specific niches like chiropractors or restaurants can lead to high profitability.
Bringing technology to traditionally less tech-enabled businesses is emphasized for increased profitability.
The potential for success in these business models is highlighted before they become oversaturated.
Opportunities for early adopters in 2024 with Bubble development skills.
12:23
High demand for Bubble developers as businesses seek talent.
Bubble development is more clear-cut compared to skills like copywriting.
Resources like YouTube tutorials and academies available for learning Bubble.
Bubble boot camp offers structured learning for those interested in building applications.
Transitioning from freelancing to building a software idea or venture studio is emphasized as a scalable alternative to selling time for money.
14:25
Learning how to build on Bubble.io is highlighted as a valuable skill with multiple business model opportunities.
Mastering Bubble.io is compared to the rise of dropshipping in previous years, with optimism for its future potential.
Acquiring the skill of building on Bubble.io is emphasized for future success in business endeavors.
A link is provided for a no-code boot camp to further develop these skills.