3 BEST Business Ideas To Start For 2022 Recession
How do you know what ideas to focus on as unlike a video game, life doesn’t tell you exactly what you need to do. We’re thrown into a harsh world full of people pushing their own agendas.
School wants to create workers forcing kids down the path of university debt all so the rich get richer after being put through this system. If we reject the idea of a normal life, we’re expected to figure out entrepreneurship all by ourselves.
No wonder most people are scared to start a business of their own. Even when I mention the word business, people are put off but that’s how they want you to think.
I’ve completed the game so I’m going to outline exactly how to master the three levels. A simulation, ascension, and automation as well as share many business ideas that you can get started with right away.
Think of this like a video game walkthrough but for the best game in the world, real life. However, the difficulty level is about to increase with the impending recession. So it’s more important than ever to take action now.
Level 1 is Assimilation
Assimilation is the level of the game where you need to increase your character’s power by assimilating knowledge, developing seed skills, and
Now unlike the sims your avatar doesn’t come with, a ready-made six-pack, this is going to require some dedication. I’m defining seed skills as anything you can learn to do that a large market is willing to pay you for in the future.
Many people try to skip this level but without strong foundations, you can’t build a bigger business in the future. I’m going to get straight to the point.
Too many people go to university yes knowledge is power. However, unless you want a job at a traditional institution like becoming a lawyer or a doctor, there is little need to pay for education.
Better yet, as you learn a skill, you should actually be turning it into money. The number one objection I hear over and over again is I don’t have enough money to start a business.
The simple answer to this is you don’t need much money just time. Most people don’t like to admit it but they are extremely time rich and they could spend it learning a new skill.
However, instead they decide to chill and that’s okay if you don’t want anything more from life. But the one thing I can’t stand is people that complain about their situation, and then take the easy way out and don’t put in the hard work when they need to.
The first step in this marathon of life is to look for a skill you want to assimilate. You need to make sure your skill has a wide enough appeal.
I mean if I decided to learn the skill of reciting the seven harry potter books off by heart, that skill would be pretty useless when it comes to making money.
Some examples are useful skills of video creation, coding, negotiation, graphic design, writing, or even a practical trade like carpentry, electronics, and plumbing.
The list just goes on but for now pick one and master it. This is going to take more than reading a bunch of books or watching a few YouTube videos.
I want you to build some kind of service based business around the skill you desire. See if you can guess what skill I learned from my first business as a kid.
I bought and sold suites at school. I remember buying these big boxes of candy at the supermarket and working out how much I need to sell each unit to make a profit.
Of course the answer is the skill of negotiation. Another great example of this is my son. He really wanted to learn videography so he rented cameras and charged for small jobs such as filming promotional videos for local businesses.
Slowly, he managed to build up a collection of his own equipment and as he increased his skills, he could raise his prices. There are so many business ideas out there that allow you to be paid handsomely for powering up your avatar.
I mean if you want to learn coding, then start building websites for clients. How about physical trades? Just help out a handyman. For video editing, do freelance work for an influencer.
So what sets apart the people who succeed in life? Well, according to world renowned psychologist Angela Lee Duckworth who studied kids and adults in all kinds of challenging situations, one characteristic emerged, grit.
And this is exactly how she defined it. Grit is passion and perseverance for very long term goals. Grit is having stamina, grit is sticking with your future day in day out.
Not just for the week, not just for the month, but for years and working really hard to make that future a reality. When you tie a financial incentive to your skill or simulation, it’s amazing how much faster you start to progress.
Level 2 is Ascension
Ascension is the level of the game where you really stand out from the crowd with a fully customized avatar skin. Up until this point, you’ve been one of the many options for your customers.
It doesn’t matter if they’re looking for a video editor, a web coder, graphic designer, or a salesman. They’ll be comparing all of their options based on one thing, the price.
This means in all the level one businesses, you will always have to be hyper competitive, and ultimately, it’s a race to the bottom. There’s always someone willing to work for less than you.
That young lad who still lives at home creating Minecraft servers is always going to be able to undercut you, as ten dollars to him is worth so much more than it is to you.
The issue is being seen as a commodity. In other words, there are lots of different options and you’re comparable to all of them.
The solution to this is to ascend to an expert in a specific business niche so that your customers don’t see you as one of the many options but instead the only option.
This gives you the ability to charge far higher prices and build a much more lucrative business.
So the first step is skill stacking. This is essentially taking all the valuable skills that you’ve assimilated in level one and slotting them together like puzzle pieces.
I mean Dr. Strange only became the sorcerer supreme after studying many
different aspects of the mystic arts and mastering all of them. This is something that I actually did subconsciously.
I spent a year working in a radio control model shop and used my industry specific knowledge and practical skills from my days as a carpenter’s apprentice, and negotiation tactics to convince customers to pay me to fix their models in my spare time.
Step two is to start a business where you’re positioned as the expert in your field. At this stage, a whole new set of business ideas opens up to you such as becoming a social media manager, Facebook ads expert, drop shipper, consultant influencer, and even a business manager.
Before jumping into one of these, it’s very important to evaluate firstly what industry has the highest earning potential. And secondly, what you enjoy the most.
In an ideal world, it would be the same answer. However, I know it doesn’t always work that way. You aren’t going to get anywhere if you hate what you do.
So it might be worth taking a perceived cutting income for more enjoyment because in the long run, your motivation should make up for that loss of money.
These all have an extremely high earning potential but are only really achievable by the people that have a strong stack of seed skills. Well, I guess that’s not entirely true.
Anyone can be a consultant. However, do you really think you’ll get clients when your only testimonial comes from your mum?
Level 3 is Automation
Automation is the level of the game when you unlock all of the special moves and the cheat codes. You no longer have to play by the same rules as everybody else.
It is true that the rich and powerful live a completely different life to the average person. And that’s because they understand business in a way that most people don’t.
In order for a business to be fully sustainable, you need to be able to replace yourself. This is so that your income doesn’t solely rely on you.
It’s also important to detach your income from your time. This is so that you’re able to focus on other projects. Maybe that’s living your best life on a private island or building another business empire.
I mean if Elon Musk had to be at Tesla 24/7 designing new cars, then he would have missed out on the entire dogecoin rally. The harsh reality is maybe you’re technically running a business in the other levels.
However, what you really have is a profitable job. The first step towards building a real business is picking a scalable model. A business model is defined as how an organization creates, delivers, and captures value.
The term scalable refers to the ability to expand the business without being hampered by structure or available resources when faced with increased production.
The best models I’ve found are agencies, joint ventures, affiliate marketing software as a service, and your own product range. Even now, you could be thinking about what business you want to start building towards.
Something I did very early on when I started my own product range of radio control models was outlining exactly what team members I needed.
The second step is to start hiring people to fill those roles. Of course at first you’re probably going to be tight on cash. Unless you get a massive amount of funding, this means that you’re going to be doing everything yourself.
This is where your skill stack comes in very handy. However, it’s not sustainable. So by slowly handing over responsibilities, you’re able to clean your plate and regain your freedom.
You have to stay really focused as it can be easy to become selfish and want to hold on to more of the profits for yourself rather than hiring someone else.
But this just takes away your precious time that could be spent working on your business. It’s all about looking at the bigger picture and building the machine that is the business so you can automate everything.
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