What Is A Good Low-Risk Business To Start?

Today I’m going to talk about a good as well as low

risk business to start.

First I’m going to share with you some of my adventures with the different businesses that I have started and the one that I recommend. Next, I want to share with you why you should be concerned with startup costs, but there’s something else that you should be concerned with as well. Lastly, we’re going to dive into the daily steps to success.

A little backstory.

I’m going to share with you very quickly a little bit about my journey. I started selling young…when I was in middle school, I was selling airheads. I was selling a bunch of stuff when I was about 18 on Yahoo auctions and then on eBay. Then a little bit later in life, I was a mortgage broker and started a real estate title company with a friend of mine. I bought an advertising franchise with a different friend of mine. I also started a real estate investment company.

I’ve tried all kinds of different things. Some worked out, most didn’t. The reason I want you to understand that is not just me but most entrepreneurs, they go into a business and it just doesn’t work out for whatever reason, right? Either they didn’t do the work or the timing wasn’t right. For example, I made money in real estate until the market crashed in 2008, 2009 and then I was wiped out. I hadn’t educated myself to handle a down market as well as I should have and could have. Now my wife and I, we’ve made good money in real estate recently but there’s a lot of things that I started that didn’t work out.

An example would be the advertising franchise. Why do people buy a franchise? They buy a franchise so that they have a system that they can run, right? Well we ran the system, we spent $40,000 on this advertising franchise and I never made a dime. Didn’t even get my investment back. I can tell you there are a lot of varying businesses risks out there and the one that worked out really well for me which just so happens to be extremely low cost, low risk, low overhead…is network marketing.

What is the business that I recommend?

The thing that you have to manage in network marketing is the very likely scenario that when you start, you get a little bit of a social ding. A lot of people don’t like network marketing. That’s just a fact. It’s normally because they’ve been lied to or hyped or they just have a complete misunderstanding about it. There are definitely people out there that have a negative connotation toward network marketing and that’s something you have to manage.

As far as a business though, it’s low risk and low overhead. I have one client right now that brings home over a million dollars a month as a rep in a network marketing company. So it is possible for you to make a lot of money in network marketing even though it’s low risk low and low overhead. Just because it’s low risk doesn’t mean it’s no risk. You are typically spending a few hundred dollars each month, but I want to give you a comparison.

This is what most people don’t understand when it comes to any kind of business. Look at a Domino’s franchise. A Domino’s pizza franchise is $250,000 and they tell you to expect a 10 year return on investment. What does that mean? That means in 10 years, you should get your original investment back. So, year 11 we’re in profit. Does that sound like a good deal to you?

Well people buy them all the time. They buy them because of the system. They don’t know how to create a business that is super profitable without a system or a franchise. Imagine this. If you went to people and you said “hey it’s a thousand dollars to join my network marketing business but don’t worry, in 10 years you should get that thousand dollars back,” that’s actually a better deal. Think about It, that’s a better deal because it’s less risk, right? Same timeline of 10 years but less risk. $249,000 less risk…that’s a better deal.

This is what people don’t understand. People that criticize network marketing they don’t understand how business works. They don’t understand the cost and the expense or the return on investment that most businesses experience. Understand that and you’ll see the beauty in network marketing.

What about the risk?

Speaking of risk, yes, you should be concerned with how much money it costs to start a business and yes, you are going to spend some kind of money. A lot of people, they like to criticize network marketing because you have to “pay to play.” Well it’s not a job. Yeah, most jobs you don’t have to spend any money, but that’s not a business, those are two different things. If you’re looking for a salary, if you’re looking for a guaranteed of I’m going to get paid x every week or each hour, then a job is for you, a business is not. Those are two very different things.

I’ve had really, really amazing months in business and I’ve also had really bad months in business. I’ve had months where we’ve made millions and millions of dollars and I’ve had months where we lost a hundred thousand dollars. It varies based on seasonality, promotion, expenses…There are a lot of variables involved.

What’s the other the thing that you have to keep in mind?

It’s not just startup money, but also time. Let’s say that you want to become a YouTuber. Yay! Well first of all with YouTube in order for you to become a monetized channel, you have to have a thousand subscribers. At a thousand subscribers, you get approved. You have to be approved for monetization. If you get approved, you’re making a tiny bit of money each month. For you to make a substantial amount of money as a YouTuber, you’re going to either have to get some cool breaks (basically get lucky) or you have to put in a ton of time. Time…it’s just one of those things that take time. I know people that have been doing YouTube for years and years before they start making a lot of money.

Now that doesn’t negate, it doesn’t mean it’s not worth it but that’s something that you want to manage. You want to manage that. How long am I going to have to do something and how much time am I putting into it? Not just the investment in equipment or an investment in knowledge or know-how and self-development. Take a look at how much time. This again lends to the benefit
of network marketing. You can be earning while you learn.

By the way, I’m not in a company. Yes, before I was a coach and trainer, I made millions in network marketing and was the number one income earner of a company, but I’m not trying to pitch you my company.

I see so many entrepreneurs that start a business and they don’t know what it takes, they don’t understand return on investment and they work their brains out… They could have been making some extra money on the side with network marketing and that’s why I’m encouraging you to understand not just startup costs but also time. How much time do you have to put in? That is a variable you need to pay attention to and consider.

Want to learn more?

Before I get to my last point, if risk is something you’re really concerned with make sure you subscribe to our YouTube channel. We talk a lot about risk and overhead because again, you can learn from my mistakes. I’ve taken a lot of risks in business over the years and a lot of them didn’t pan out. If you’re looking to build a business from home using the internet and you want as low risk as possible, our YouTube channel provides you with a lot of ammunition and tips. Feel free to click the little subscribe button when you click on the video at the top of this post.

What are the daily steps to create success?

On to our last point. What are the daily steps to create success in whatever business that that you’re doing? You need to know that to build any business, there are two main pillars: prospecting and marketing.

Prospecting is you reaching out to individuals to see if they’re open to your product, service or opportunity or whatever it is that you’re doing. Marketing is passive. You’re doing something you hope someone reacts or responds to, it could be a podcast, a YouTube video, Facebook live, TikTok, Instagram reel etc. Understand that there’s two pillars of building a business. Whether you’re a plumber, a massage therapist, chiropractor or whatever, right? Are you doing that on a daily basis Are you reaching out to individuals whether they have reached out to you (so you’re following up with them) through marketing or are you reaching out via prospecting? You need to have some numbers and activity management in your daily processes. How many people am I reaching out to, how much marketing I’m putting out there, is my marketing getting reacted to? You need to make up for what you lack in responses in your marketing, by prospecting.

If you’re doing videos but not getting any attention, questions or engagement then you need to do more prospecting. Now you can (like I did) get to a point where you do so much marketing that you can live off of the results and the reactions that people are having from your marketing and not have to do very much prospecting and instead respond to the people that reach out to you. It takes some work takes some time, but be dedicated to making sure you’re reaching out and talking to enough people for you to create success in whatever endeavor you’re doing.

Are you wanting to increase your chances of success?

If you’re looking to increase your chance of knocking it out of the park then I would highly encourage you to fill out an application for our coaching program. Here is the link Higdongrouptraining.com.

Here’s what happens. You fill out that application, tell us what it is you’re hoping to do and we’re going to get back with you and give you a strategy session for FREE. We will give you advice personal to your situation and then we will also explain our coaching options. If you would like coaching or even if not, but we will give you a free strategy session just for filling out the application. If you want to start off right and get in the right place with your business or your side hustle that you’re attempting, fill out that form by following the link.