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0:00 – Start here
0:36 – 1st business
2:00 – 2nd business
3:34 – 3rd business
4:54 – Sponsor
6:15 – 4th business
7:50 – 5th business
9:18 – 6th business
10:49 – 7th business
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Crazy I am currently in the works to start a clothing brand
My advice is follow your passion. There’s nothing wrong with following a passion on the side of your main hustle.
If your stuff is good then a crowd will follow. Just focus on getting the word out
I was crazy once
“Passions usually don’t convert to cash”
@Colonel Mann is every successful clothing brand start off with the owner being a influencer? If you have a decent amount of money saved up and no how to market and the brand is authentic to yourself
thanks Nate this was enlightening
I am now enlightened
Nirvana
ramen
Thanks Humphrey
dope og name
My friend and I are starting a garlic farm, it’s nearly impossible to bootstrap that
Garlic farm is awesome
@Nate O’Brien funding it is damn near impossible though 🤷♂️
I’ll swing back around and let you know how it’s going after first planting
Oh ish, last wee I just started my trending clothing franchise 😮
Thankfully I can get a loan for my vending machine restaurant, I even get more for recruiting others 😅
perfect plan!
Great vid! Thanks Nate
Nate I was wating for your new video, make more, thank you!
Great advice once again Nate!🩵🩵
Appreciate it!
Always a good day when Nate uploads
I think Iman Gadzhi has talked about this with similar recommendations (from his paradise in Dubai, maybe). But in a chapter toward the end of his 2018 book “Skin in the Game”, Nassim Nicholas Taleb advises “You must start a business”. Imagine if everyone tried to do that, we would have a world of spam and nothing else!
Spam isn’t a true “Business”. Spammer try to steal other’s money without creating any value. Any activity in which one party wins and the other loses is a rip-off and NOT a true business. Nassim is right spot on because if everybody starts a business, society will be much better, minimum wages will raise sharply as people will get smarter with resources and develop better financial IQs, and last but not least, Innovations in society will increase dramatically due to competition among different businesses trying bring something better for the consumers. We shouldn’t forget that the WEALTHIEST societies on earth are those with the most BUSINESS-oriented citizenry.
I’ve decided I’m staying on the family farm in Ohio, now I just need to figure out what to do with it.
Would you consider a mortgage one of these business loans to avoid? I’m specifically referring to the short term rental property business model. I don’t have 100% of the cash to purchase a home but I would love to invest in a property and obviously use the rental income to make the mortgage payments.
I think mortgages for rental properties can be okay. As long as you don’t spread yourself too thin. Need to have big safety nets
This is great advice. Codie Sanchez had a video similar to this. Have you watched any of her videos?
Finally some advice I can follow. You usually have lists of things that I’ll never do and then feel lazy about. 😂 but now I can be relieved I never invested in a restaurant or took out a business loan
Starting a construction business is so great right now. Easy to bootstrap with tools from a pawn shop and a minivan lol. Commercial or direct to consumer (ei landscapers, deck builders, roofers) has great margins. Residential sub-contracting isn’t really a business with the margins being so low, it’s more like a job.
Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place…
I invested with Jeff, i make about a 30,000USD every month.
Always a great day when nate uploads
Aloha Nate. New subscriber and I’m slowly working my way thru your videos. I appreciate your interesting and useful tips and ideas. I really liked videos of you in the forest and mountains. I grew up in the high country of Colorado near Leadville (I think you mentioned that town once), so it reminds me of home. Such a contrast to Bangkok where I moved to this year!
Good points! You mentioned passion a couple of times, I think this is a key word. One shouldn’t think what business will get me rich, let’s open that business, instead you should follow your passion. If you aren’t passionate about it, you shouldn’t start that business at any point of time imo
But if your passion is an already saturated markets and your products won’t find enough customers ? Wouldn’t you rather sell something boring but with high margins and high demand versus offer ?
One in ten businesses fail, taking a loan for a business is dangerous. What beautiful commentary. Thanks as always!
i think a lot of people run after “sexy” ideas but often overlook some great unglamorous opportunities leaving it to smart entrepreneurs