5 Business Ideas To Start Today With $0 ft. Shark Tank's Sabri Suby
26 Jun 2024 (3 months ago)
Intro
- Sabri Suby, an entrepreneur and marketing expert, shares his insights on starting a business with no resources or capital.
- Dropshipping:
- Starting an online store and selling products without holding inventory.
- Using platforms like Shopify and Oberlo to find and sell products from suppliers.
- Affiliate Marketing:
- Promoting other people's products or services and earning a commission on each sale.
- Using platforms like ClickBank and Amazon Associates to find affiliate programs.
- Freelancing:
- Online Tutoring:
- Social Media Management:
- Managing social media accounts for businesses and individuals, creating content, and engaging with followers.
- Using platforms like Hootsuite and Buffer to manage multiple accounts.
- Be Authentic:
- Be genuine and transparent in your interactions with customers.
- Listen Actively:
- Pay attention to what customers are saying and understand their needs.
- Solve Problems:
- Focus on providing solutions to customers' problems.
- Build Relationships:
- Nurture long-term relationships with customers by providing excellent service.
- Be Persistent:
- Never give up on a sale, follow up with customers, and be willing to go the extra mile.
- Live in the Present:
- Focus on the present moment and enjoy life as it is.
- Be Grateful:
- Appreciate the good things in life and be thankful for what you have.
- Take Risks:
- Don't be afraid to step outside your comfort zone and take risks.
- Learn Continuously:
- Always be open to learning new things and improving yourself.
- Give Back:
- Use your success to help others and make a positive impact on the world.
Idea: Done-For-You Channel Growth
- Reach out to businesses that are running ads on one platform and offer to run ads on another platform for a percentage of the sales.
- Approach e-commerce stores that are not on Amazon and offer to help them set up and manage an Amazon store for a percentage of the sales.
- Focus on one traffic channel and one offer to avoid distractions and maintain focus.
- Create a compelling offer that prospects can't refuse, such as a no-risk, high-reward partnership.
- Identify a group of businesses that are not utilizing a specific channel and offer them a customized, compelling deal to bring their business to that channel.
- Focus on businesses that have money and a need for expertise in the chosen channel, such as e-commerce stores that have been in business for at least three years.
- Amazon FBA (Fulfillment by Amazon) is a lucrative business opportunity with low competition and high potential earnings, especially for e-commerce businesses as it generates revenue from day one.
Idea: Affiliate arbitrage for Chiropractors
- Identify a niche, such as chiropractors, where businesses are struggling with high customer acquisition costs.
- Build a complete sales funnel specifically designed for that niche, including email flows, landing pages, and offers.
- Compile a list of potential customers within the chosen niche using platforms like Upwork or BuiltWith.
- Reach out to these businesses and highlight the inefficiencies in their current advertising strategies.
- Offer them the pre-built funnel for free in exchange for signing up through an affiliate link, allowing you to earn a commission without the burden of customer maintenance.
- This approach can be applied to various niches and affiliate programs, such as HubSpot or Hyros, which offer lucrative commissions for customer referrals.
- Copywriting is a valuable skill that can significantly impact one's business career.
Idea: Live Chat as a service
- There are millions of small businesses worldwide, and many have a Google My Business listing with reviews.
- Most of these businesses do not offer live chat support.
- Offer live chat as a service to these businesses for free.
- Show them how live chat can increase their sales by 10% by analyzing their Google My Business listing and identifying after-hours traffic.
- Charge a 20% commission on sales generated through the live chat service.
- Start the service yourself and then hire people to manage it as it grows.
Look for customers with a bleeding neck
- Focus on finding customers who urgently need a solution to their problem.
- Prioritize revenue-producing activities as they are crucial for business survival.
- Consider the skills needed to reach $10,000 per month and their long-term relevance.
- Aim to acquire skills that can be used to build something bigger in the future.
- There's a business opportunity that requires no money, showing your face, or using your voice.
- This opportunity is in a rapidly growing market.
- It has the potential to earn at least $10,000 per month, with some people earning even more.
Idea: $100K/day opportunity with TikTok Shops
- TikTok Shop is a platform where brands can recruit affiliates to sell their products through product tags and earn a commission.
- Tools like Cow Data and Fast Moss can help identify best-selling products and analyze sales data and marketing strategies.
- AI tools such as 11 Labs and Mid Journey can be used to create voiceovers and images for product videos, which can then be edited using Cap Cut.
- Successful products sold on TikTok Shop include "Chillit Resin," a black tar from the Himalayas, and the Gurunanda oil pulling kit, which achieved remarkable success through story-based copywriting.
- Both products have a strong presence on Amazon, benefiting from increased trust and conversion rates.
- The key to success lies in mastering copywriting skills, understanding social currency, and leveraging viral content to boost sales.
- One can start as an affiliate, gain traction, and then offer businesses comprehensive TikTok shop management services, including creative development, revenue generation, and viral content creation for Facebook ads.
Get paid to learn the most valuable skills as a marketer
- Learn timeless skills like copywriting, consumer psychology, video editing, and social media marketing.
- Get paid to learn these skills through affiliate marketing or retainer consulting.
- These skills will serve you throughout your career and are not subject to obsolescence.
- This is especially suitable for individuals early in their careers who have hustle and a willingness to learn.
- It is applicable to anyone, regardless of their background or skill set.
- The only requirement is time, which most people already have in abundance.
Kill the little bitch inside
- The speaker discusses the concept of an internal voice that discourages individuals from pursuing challenging tasks.
- This voice exploits weaknesses and uses pain points to dissuade individuals from taking action.
- The speaker suggests ignoring and penalizing this voice to prevent it from hindering progress.
- The speaker emphasizes the importance of honesty with oneself and avoiding self-deception.
- If one anticipates not following through on a commitment, it's better to acknowledge it rather than make promises that won't be kept.
- When caught in a situation where a commitment wasn't fulfilled, the speaker recommends doing more of the neglected task as a form of self-imposed penalty.
- The speaker introduces the main topic of the video: presenting five business ideas that can be started with no initial investment.
- Virtual assistants provide administrative and other support services to clients remotely.
- This business can be started with minimal investment, as it primarily requires a computer and an internet connection.
- Virtual assistants can offer various services, such as scheduling appointments, managing email, creating presentations, and conducting research.
- The speaker highlights the flexibility and potential for growth in this field.
Philosophy: Have more fun
- Incorporate fun and enjoyment into business and daily life to maintain enthusiasm and productivity.
- Embrace new and unconventional ideas, even if they seem risky.
- Engage with strangers and entertain people to build valuable connections.
- Allocate a portion of the marketing budget for non-ROI experiments to foster innovative thinking.
- Prioritize meaningful work that feels like play to you but looks like work to others.
- View life as a comedy rather than a tragedy to enhance enjoyment.
- Recognize that aging does not necessarily lead to boredom; incorporating fun and silliness can maintain happiness and fulfillment.
- Engage in new and exciting activities to bring more energy and enthusiasm to life.
- Small daily exercises can transform the ordinary into the extraordinary, regardless of responsibilities and commitments.
How to be better at small talk
- Instead of asking "what's new", ask "what's something you're excited about coming up?"
- People light up when you ask them what they're looking forward to.
- We need things to be excited about and look forward to.
Invest in building your year
- Plan things to look forward to throughout the year.
- Don't wait for a holiday, plan them in advance.
- Plan holidays around new experiences and cultures.
- Use Chat GPT to create children's stories about the places you'll visit.
- The anticipation of an event can be more enjoyable than the event itself.
Showmanship
- Showmanship is the ability to capture and retain the attention of your audience.
- It involves storytelling, stage presence, visual storytelling, and the ability to surprise and excite.
- Showmanship is crucial for leaders and communicators in any industry or business.
- It can transform ordinary and mundane tasks into engaging and exciting experiences.
- Showmanship is making a comeback in the era of content creation and audience building.
- It is a valuable skill for businesses to attract and retain customers.
- Content creation platforms like YouTube provide opportunities to practice and improve showmanship skills.
- Showmanship can be applied to various forms of communication, including ads, emails, and presentations.
The difference between good and great
- Focus on improving consumption before conversion rate.
- Understand the hook and lead to retain viewer attention.
- Use patent interrupt or patent match to grab attention.
- Foreshadow, build stakes, and delay payoff to keep viewers engaged.
- Have multiple storylines to maintain interest.
- A strong offer is useless if viewers don't reach that part of the pitch.
Stop praying to the internet gods
- Many people rely on luck and hope for success in business.
- A successful business should have a repeatable and predictable process to acquire clients.
- Without a repeatable process, a business is just an expensive hobby with more stress and longer hours than a regular job.
How to get your target market to raise their hand
- Most businesses make the mistake of directly presenting their products and services to their market without first providing value.
- To effectively reach your target market, start by offering something of value, such as a free report or video, to attract their attention and generate interest.
- This approach, known as a two-step funnel, involves:
- Providing a valuable piece of content that entices your target market to "raise their hand" and express interest.
- Once they have shown interest, present your offer on a landing page where they can easily access more information or make a purchase.
- This method can significantly increase the number of people who engage with your business and learn about your offerings.
Sabri's 1M copy book funnel
- Uses a free report as a lead magnet to attract potential customers interested in a specific service or product.
- Creates organic-looking content that captures attention and educates the audience before introducing the product or service.
- Uses social media platforms like TikTok to reach a wider audience and generate interest in the product or service.
- Provide valuable content that educates and engages the audience.
- Use storytelling and interesting visuals to capture attention and keep the audience engaged.
- Make the offer at the end of the content when the audience is most interested and receptive.
- Give away a free book teaching a skill.
- Create a "yes, yes, yes, no funnel" where people agree with the content but realize they don't have the time or energy to do it themselves.
- Offer your services as a solution to their problem.
- Don't make the book a thinly veiled sales pitch.
- Provide real value and don't hold back any information.
- The book should be a standalone valuable resource, not just a lead-in to your services.