BUSINESS IN 2022... 3 BIG changes you need to make to hit $1,000,000 next year.

In 2022 and beyond. There's three things that I would suggest, I would recommend you think about that are different from building a business in a in the past. The first is.

We all know that a lot has changed in the world in the last couple of years. If you've been in a coma for the last two years, I envy you. A lot's happened and a lot has changed on the business side, on the personal side, the political side, obviously. What has changed though in terms of the strategy of building a seven figure business, the world and the marketplace is a little bit different than it was just two years ago. So in this video we're gonna go through the current landscape of building million dollar businesses and my recommendations for how you would approach a new business today versus if you were starting just a couple of years ago. Now, first things first. With everything that has changed, with inflation and supply chain and Covid and masks and all of this, one thing has not changed. Third grade math. Still, even with the world in a different place, four products times 25 sales a day is still 100 sales a day. And at a $30 price point, that's still a million dollar business. And I know that a million dollars is only worth $950,000 of last year's money because of 5% inflation, but it's still a seven figure business. So with everything that's changed, math has not. And so it's still the process that we put our students and the people that I invest in through. Do you know the vision for the business that's going to have four products that takes at least 25 sales a day at a $30 price point? And do you have a clear whole, a clear audience of people that you're launching to, that you are serving that will buy those four products at $30 a pop? Because if you do, then all the tactical things and all the things that change in the world are just things you need to adjust to. They don't kill your business. But a lot of people obsess over these micro changes while forgetting that math is still math and it's still easier than ever to build a seven figure business. Now let's take a look at where we are in the marketplace right now. Obviously inflation is higher than we would all like. Amazon's really competitive Facebook ads are going up. We have a lot of noise in the marketplace. And these are all things that can threaten seven figure business owners and new entrepreneurs. But there are also some benefits to the marketplace right now. One of those is that there's just influencers and audiences everywhere. And there are more micro audiences starting than are real communities. That's things like discord channels and private groups and even telegram groups are very responsive audiences that didn't exist as recently as two years ago. That's why one of the first things that we have our students do is is make a list of the audiences and the influencers that you'd like to partner with. And that can be bloggers or email lists, or it can be influencers or celebrities or whoever, but there are still actually there's more audiences than ever that are under monetized and would love to partner with a brand that is doing cool things for a core group of customers. The next really positive thing is that there's capital everywhere. There's just so much money in the system that wants to flow to good ideas. And with people concerned about inflation and maybe a stock market high or a bitcoin high, there's demand for exciting ideas to come into the marketplace. So if you've got a great vision, there are more investors than ever that want to borrow against their ethereum and throw 50 grand your way. There's so many of them, money is like they're just printing more of it. So it's just floating around the universe waiting to flow to really good ideas. So it's a really good time right now for you to cast a vision from a place of excitement rather than what you think you have to do. Because there's plenty of people out there who want to fund really good ideas. And the third thing that is interesting in right now's landscape is that a lot of products are getting commoditized. There's been such a boom in the E commerce space. There's so many brands that have been launched and I guess you could blame people like me for that who have been teaching this stuff for the last, well like eight years that a lot of businesses have been commoditized. When new industries emerge, there is a surge of entrepreneurial ideas and attention that goes into that. So if you're a new entrepreneur right now you're probably looking at blockchain, crypto and solidity development. Whereas there's still lots of opportunity in E Comm. So all the attention is going to what's new. But there's still demand and opportunity for what has been tried and true. As a result, there's kind of like new opportunity for entrepreneurs to build physical products, brands or Internet based businesses that aren't shiny and distracting and the attention of everybody else who's trying to do it. But there's still a ton of money to be made there. In other words, while the rest of the marketplace has moved on from things like E Commerce, that creates a gap in the marketplace because there's still demand for good brands to be built and sold. The big companies and private equity groups are still buying really great businesses and brands. Just like if you were to start a manufacturing company and it became really profitable, that's now considered a boring business and it still has huge valuations. It just happens that there's not as many people trying to get into that space anymore. In 2022 and beyond, there's three things that I would suggest I would recommend you think about that are different from building a business in a in the past. The first is I would have a really hard time recommending any business that was not a premium brand right now. If you are going to go into any niche market, be the premium. Here's why. If we're in an inflationary environment and if Facebook ads are going to be more expensive and if supply chain issues are going to be consistent, then the only way that you win is by charging a premium. The good news here is that most of the marketplace is trying to fight for the lowest common denominator. They're having price wars. They're trying to be cheaper than everybody else. They're being hurt because they can't afford to spend the money on Facebook ads or Amazon pay per clip or pay for faster shipping. That gets around all of the supply chain issues. They can't afford to sponsor that influencer. They're being crunched by the economic reality that is right now. But if you're a premium brand and you're coming out to do not the cheapest job, but the best job, and to be after the top 10% of your market, then you have enough profit margin to be able to weather all of these storms. So in this market, having a premium brand I think is very, very important. It allows you to insulate yourself against inflation, higher expenses and all the other uncertainty that's happening right now. Plus, you stand out when you're a premium brand. And it allows you to focus exclusively on the ideal customer that you want to serve, rather than trying to get the masses, which I think is a mistake. The clearer you are on your person that you serve, the higher price you can charge, even if your product is exactly the same as everybody else's. Because that makes you a brand, not just selling products. The second recommendation that I would make is that you be aggressive when everyone else is scared. Lots of entrepreneurs are running for the hills right now. They're freaked out about inflation. They're freaked out about what the government is going to do. They're, man, I have, I have some entrepreneurial friends who believe some really weird things right now. It's, it's, it's, it's concerning, but it's also making me feel even more aggressive because if they're scared, like, and I go all in when everybody's, I mean, really good time to be aggressive. So while everybody else is hedging and being defensive, if you are optimistic, if you are bullish, if you are confident in your vision, man, is it a good time because you have less competition. And the third recommendation is that moving into this next chapter, communities are going to be paramount. Gary Vaynerchuk is kind of famous for saying, be a media company first and then if you're an accountant firm, be media company, then an accounting firm. I think that's changing. And now it is community first. And then we're starting to see all these pockets emerge where it's not just the political divide, it's all these little micro pockets, these micro communities that are being formed. And it's a really good time for you to be thinking about community building for your business. Web3 makes this very, very interesting. The time is coming when every brand releases an NFT or actually airdrops their own native token to their customers so that they have a financial incentive for that brand to win. That technology isn't available to the masses right now, but those brands who are doing it are gonna win. So these micro communities that are financially incentivized for your brand to win is how communities are going to be built and how brands will have loyal followings. In the next chapter of entrepreneurship, communities will be everything in 22 and beyond. So this is a good time for you to address that within your business right now. So, yes, there's inflation, there's supply chain issues, there's lots of competition, but there's also opportunities being overlooked. There's capital in the system and there's really good opportunities to start a premium brand. There's more audiences than ever. There's new technology and new communities emerging that allow you to double down. And in this next chapter of entrepreneurship, you can either crave for the past when you thought things were simpler and easier, or you can look at the new opportunities that are emerging and realize that math is still math. Still, four products at 25 sales a day times 30 bucks is a million dollar business. And it's faster and easier than ever to Launch a million dollar business. There's one more really interesting trend that I see happening that I'm saving as a special for those of you who made it to this part of the video. I was chatting with one of our backroom members, that's people who have graduated the capitalism incubator are now working with me pretty directly. I was chatting with them this morning and they were talking about how they're building a community within their business. And she was saying that she has a Facebook group of several thousand people. And I suggested to her that she start looking into what's happening in the NFT space. And I suggested to her that she consider releasing an NFT to that group of 6,000 people. And here's why. She has this really raving families, this community that really loves what she is building. And I said to her that if you created an art project that was also relevant to the brand and these followers of yours supported it, and you sold 5,000 NFTs at 0.1 ETH, right? In the NFT world, that's cheap, right, Alex? That's cheap, right? So if you sold 5,000 of them at 0.1 eth, if my math is correct, that would be a launch of an NFT of $2.5 million. Now what that does is for 500 bucks you're allowing your raving fans to become backers of your business, participating community members of your brand. And your job is to spoil those customers with VIP discounts, early access to new products, special doors that you open up within your brand, limited release drops of new products, Q&As with influencers in your space. If you build a real community out of that 5,000 people, you essentially raise a few million dollars to fund the operations of the business and you create a raving group of buyers who want to buy your stuff. Now, it might not be $2 million, right? I just picked those numbers out of thin air. But it might be.01 ETH, which would still be like a $250,000 raise to be able to give you seed capital in your business and allow you to go all in on a raving group of people that want to see your brand win. Do you see how this is going to change things? I see in the future people not even doing raises for companies, they issue NFTs to their followers and those NFT buyers become the community that launch the brand on your behalf. It's a wild time and it's going to make building million dollar businesses way faster and easier. I'm currently exploring just like how I can help make that happen faster because if we bring that to our customers and our community, oh my goodness, look at great multi million dollar businesses. It's a very, very cool time to be building multi million dollar businesses. So if you can see all these changes in your favor as an advantage to you, then like, it's a really great time to start a business. Whether it is 2022 or 2026 or 2031, there are just opportunities opening up more and more every year. Whenever you are ready to stop thinking about it and to start doing it. Would you please quit kidding around and get plugged in here? Good first step is to subscribe to the channel. A good second step is to download the free resources around this video. And the third really good step is to join one of our memberships so we can actually get to know your business and help you. I'm Ryan Daniel moran. I run capitalism.com I'm just your average multimillionaire who helps entrepreneurs build seven figure businesses. Thank you for watching. It's an exciting time to be an entrepreneur.