While everyone is still quarantined, it’s a good time to go ahead and look into the future. This is not an exciting time as many readers will likely know a victim of the corona virus and will be personally impacted by it. That aside, we have to remain forward looking as it relates to this website as it’s not the best time to sit around hoping that someone else will “come to the rescue”. As usual, no one is going to come to the rescue and your future is entirely in your hands. There will be a lot of new opportunities: software, physical security, real estate on fire sales and niche products will continue to thrive. Online sales will be more important as millions (yes millions) of Americans learn how to operate and order things online. While this website targets young people, there is a large number of americans who really do not bother with learning new technology (this virus has changed that).
New Demographic Opportuntiy: We’re currently gathering information on recent online sales trends and you’ll find that there is a new group of people to sell to. Who? Primarily people in the age 50-70 band. People in their 40s are generally online aware but the late 40s all the way up to 70s is opening up. While it will sound crazy to a millennial, many of these people did not need to use Amazon, Netflix and other internet based solutions for delivery of goods/services/entertainment. While many will return to their old ways, a lot will stick as they realize it can save them time and even energy if they don’t need to leave the house for the delivery of essential items.
Broadly, what you’re seeing is young people move back home (temporarily and perhaps permanently due to unemployment) and they help the older generation ramp up the use of new technology. In addition, the older generation is being forced to learn how to utilize VMware, VPNs, Citrix etc. Otherwise… they cannot “work from home”. Everyone is getting a crash course on connectivity technology and Zoom is the current poster child for this movement. Video conferencing, conference calls and eventually virtual reality will become more valuable as a result.
What does this mean for you? It means there are a lot of opportunities here. You could offer crash courses on how to use new technology, in fact there are not any good education resources where someone can go sign up and say “i now know how to use 10-20 different items effectively”. Most of them tailor to one specific niche such as a type of coding or even excel classes. It also means that these individuals are going to realize how much more effective high-tech is. Everything has shifted ahead. Instead of being forced to wait another decade for people in the 50 year old band to understand high-tech, everyone in this band is forced to understand it. Think through the ramifications here and there will also be product niches that target this niche group (previously ignored as their addressable market was small).
Big Move in Real Estate: Stock markets don’t reflect the economy at all. If the market recovers with unemployment at 20% or so, this is not a good thing for anyone except the ultra rich (and people who grew up upper middle class and never had to worry about normal living). It takes 120 days for a home to go into foreclosure so you won’t see much for at least three months or so. The payment will be “deferred” in many cases, but it just results in a larger balloon payment (fancy word for being forced to pay all of it in a single payment later on). These payments will be missed as well since it’s unlikely that employment snaps back for large sections of the economy. If you believe that the current situation will be a “blip” with a sudden return to normal… We don’t know what to say except we’re happy to bet against you. Businesses cannot simply bring everyone back immediately as there is a lot of cash flow risk associated with that (you’d have to assume demand is exactly as it was prior to the virus).
Where will the opportunities show up? As usual, it depends. In real estate, the market is determined by a lot of factors. Nevada and Texas are hurting even more than other states since the casinos are shut down on the strip and low oil prices make large companies in Texas unprofitable. While it is true that people will go back to major events in Vegas… Oil likely gets resolved at some point… the result is still the same. Unemployment goes up. The economies do not suddenly go back to normal as citizens need to see how their finances look before booking that next fun trip to Vegas.
Funny enough, this sets up almost perfectly with our recent book “Spending for Maximum Return”. In there you’ll see a recommendation for your average reader in terms of what to do. The only problem is that you need to be sure. What this means is that the market you enter needs to be a 10-year commitment. If you’re going to buy something and not use it or ditch it in a few years, it’s tough to wait for the recovery. It will likely take 6-12 months for an official bottom in real estate (since defaults have not started) and by then anyone taking RE seriously will have a decision on if they are buying in XYZ location.
Dead Horse Crypto: From January 1 of 2017 to present, the average price of Bitcoin has been in the $6,000-$7,000 band. Even if you want to look at different exchanges and want to adjust for leveraged blow ups (sudden pumps and dumps)… the point remains the same. You have 1,800 coins sold every day for 365 days out of the year. This is approximately $350M a month. After the halving occurs around May 13 or so, the amount of coins sold every month will drop to $175M (notice we didn’t even bother getting the exact average since it defeats the primary message).
First… it does *not* mean the price will immediately go up on the halving. This is because some speculators may pump up the price into the event and it may mean some people are looking to sell right after the halving event. Any “day to day” trading answer is never going to work (never has and never will for retail investors – yes we’re sure there are a few guys who made it but 99.999% of the population will fail and go broke). This is called “technical analysis” and there are hundreds of hilarious videos of TA traders simply changing the lines on the chart when they are wrong and say ridiculous things like “new support or new resistance is here”.
What does it mean? Conceptually, it means you believe that the amount of demand for Bitcoin will remain as high as it has been over the last three years. If that statement is true the price would need to double to $12,000-$14,000 on average. So it’s a pretty good risk reward in our opinion (not to be deemed as legal investment advice). If you don’t think that it will have the same amount of demand then the amount of demand has to decrease. This can be caused by 1) long-term holders selling or 2) sudden consistent drop in regular demand.
We’ve already covered this for a couple of years, and fortunately it has been right. If you’ve followed the advice here you’re actually up from January 1, 2019 to present while everyone else is getting slammed (down 20% or more in many cases). For fun we were even correct in having a fair market value at around 2,190 which surprisingly represented the market bottom and are back to saying its a bit over bought (unless inflation kicks in like Venezuela).
Long Live Copy Writing: Since the above sounded a bit too arrogant, we can recommend an extremely easy way to make money. Learn copywriting right now. You’re in quarantine. You might even be unemployed (which is not a fun feeling). The only thing you can do that will certainly be needed? Learn sales. When we go back to normal we’ll find out who the good sales people are. If you were simply getting the sale since the economy is good, you’ll find out quickly. If you were getting the sale because you were amazing, you’re going to have job offers like there is no tomorrow.
Hopefully, we can all agree that *some* demand will permanently move online. If we can agree on that one piece while other parts go back to normal, it means that demand for copywriting will go up by definition. As ad spend takes a breather, we get to see which ads were run by geniuses and which ones were really just a by product of a burning hot economy.
To end on a little bit of tough love, we already recommended many sales books in Efficiency. If someone doesn’t want to read it (that is also fine), they can go ahead and google the best copy writing books on google and get to reading (10 books is not difficult in 10 days if you’re out of work). The reality is that someone who is unwilling to google and find good resources won’t be a good copywriter anyway. Copywriting requires meticulous tracking of ads and learning what works (what doesn’t) and keeping up with new trends like any other living breathing industry. The good news? Practically every book on copywriting will teach you something. It just isn’t possible to make money in sales and not have anything useful to say. Otherwise you wouldn’t have been making sales!
Tech Tech Tech: Interest rates are at zero percent. Not a typo it really happened. We’re printing money like crazy. The world is simply going mad. What does this mean? It means that standard financial services will be under pressure. Layoffs will eventually happen especially as many banks realize a lot of their employees were just dead weight. The politics will hopefully die down a bit as performance becomes more important in a more virtual environment. That said? Of the big three career options: Finance, Tech and Enterprise sales. Tech wins by a long shot and enterprise sales is now significantly better than finance. While M&A will still be around and is still the best segment within high finance, we can’t recommend anyone choose that direction with a clear conscience. Tech and enterprise sales are now the better routes as they offer more stability, a closer skill fit to online sales and have a much healthier long-term outlook.
Restaurants: This is an area that is extremely interesting. Many restaurants will go bankrupt. This will leave a lot of open space for you to either start one yourself or reinvent the restaurant concept. It’s one we’re mulling on now (as a hobby) and one we will monitor. It’s unclear if the entire experience will change or not. In fact it is something hotly debated on twitter as well. Will people simply go back to hook up culture and cram into small places like nothing happened or will change take place?
The good news? You don’t even need to know the answer. Since a lot of businesses will go under, you can wait and decide if you want to enter the market sometime in 2021. Behaviors will reveal themselves and you can start up the popular trend in your area. Our guess is that the changes will depend on the city. For now we doubt that things go back to normal for quite some time as Americas will slowly know someone who died from the disease. Until it hits home, most won’t change their patterns. By the end of this thing it will have hit home for a large number of people.
In Summary: To put it together, some of the key items are: 1) monitor demographic changes now, for those that contacted us privately this is exactly why the back end and tracking needed to be optimized! There are new customers coming online every single second, 2) think about solutions you can sell immediately after the pandemic is done – particularly if it is software/educational in nature, 3) find new ways to sell to the growing niche markets, 4) take a look at real estate in exactly 120 days, this is where a lot of the blood will show up, 5) same old necessary education on crypto for the younger generation – no need to go nuts as we’ve mentioned even $20-40K is enough for a millionaire unless well versed/educated, 6) learn sales learn sales learn sales… 7) Tech and enterprise sales now clearly way ahead of financial services and 8) track the brick and mortars, we’re primarily looking at restaurants and bars to see if they change much from the past.
Awesome article thank you! Run an online fitness brand and sales have soared but only targeting ages 18-32. About to duplicate best performers and target 33-45 right now.
Gone all in with Btc, and keeping an eye on small restaurants/bars to buy and turn into a boxing gym as a project, not planning to make much more than break even.
Facts Rory. The gym markets, the health-food markets and the religion markets will have a YUGE boom in next months.
Sleeper prediction: The government will heavily enforce sanitation standards from all this society wide. This will HEAVILY impact the food industry. You know the open kitchen concept that’s been big for the past 5-10 years? That either will go away or there will be frequent cleaning out in the open. Long term robotics will automate the industry.
I know it’s not Q and A time but this is a bone I’m throwing out: I’d argue the higher ed bubble has popped from all this. I’ve been following that debate for years and will argue to death this is another route people can take with monetization/real estate. I don’t follow the MSM and I’m seriously shocked nobody is talking about this. Just based on following my alma mater professors are leaving their cushy jobs, wonder why that is?
You guys are really generous. I’ve even been upping the research I’ve been doing lately (always room to learn and grow).
Currently researching that topic
Well Harvard is effectively an online college now LOL. Thiel was ahead of the curve. The virus is accelerating the trend — and I think this is a good thing. Electrical engineering is a 4 year degree, and so is Womyn’s Studies. The former probably should be a 4 year program. The latter isn’t even worth a Powerpoint. Colleges nowadays are structured for the benefit of the colleges themselves, not the students.
Are they tenured, full professors or still haven’t made it there yet? The US has been pumping out more PhDs than we can use for years now. I know quite a few underemployed ones who were working at multiple part time jobs after getting their doctorate, or doing low paid post doc stuff, or who ended up going industry and are competing with students who got their Masters for much less debt. I know of none who are on track for full professor in the millennial age bracket.
AnonymousModerate – can you expand further on why you think this has popped the higher ed bubble? Because of the shift it will cause to online courses?
I do some contracting work for a major university (not my main source of income, thankfully) and they’re currently re-calibrating and possibly facing budget cuts – the student population is heavily international with a bulk coming from China (cash cows paying 2-3x fees). I wasn’t fully sure how this would play out on student enrollment though, I think there will still be strong demand from international students.
If you look around on social media nobody wants to walk around in their living room for graduation. I could also imagine high school kids don’t want to learn from their computer but I could argue having worked with kids in their early 20s people might have been already at that stage of seeing college is a ripoff. I’d pay attention to this fall’s online education emphasis. If it’s an online college model I think aside from STEM degrees we will see a drop in moronic topics like history and gender studies. Companies like Google and Apple don’t require degrees anymore.
People want free college when it’s already here. Harvard has their catalog online. What people really want is a taxpayer subsidized party environment.
Nationalist/populist sentiment on the rise? The media is going to argue against “Chinese virus” but apparently polls are fine with the label. I would like to know where the direction is heading because my current business has foreign elements but I might axe that in the coming months. I think in the 10-20 years timeline China will crush the US. They’re teaching the kids coding at a younger age, here in America we expose them to pedos and confuse them with pronouns. FYI Trump is getting reelected and who follows him in 2028 might prove whether or not we’re seeing a new era of Trumpism or a return to globalism. Chinese cheap coding labor might return and tech companies might never get leashed in.
Let’s say for sake of argument 30-50K died from all this and the economy continues to be shut down well into June. You think the average person that lost his 80K job is going to distrust medical experts from all this? I say yes.
Yes I know it’s hearsay but in my alma mater several long time professors retired about a year ago. Maybe they know something I’m not privy to? I’m more than happy to report back as I do have friends in higher ed.
You guys should change your name to Tech Sales Playboys
“Tech wins by long short”?
Long shot?
Will fix
Off topic, but I’ve sent the email requesting the BTC address to purchase the book and haven’t got an answer yet.
Thanks.
Try emailing again admin@wallstreetplayboys
LIer here you guys should come out here and open a something for the summer (bar and/or restaurant) can get prime retail space on Main and Main for like nothing, lotta landlords would take that temp deal for guaranteed summer $$ while they clean up the mess from all this BS. Just make sure it’s turn-key restaurant wet space before hand. just trying to give back a little here!
I have really enjoyed your blog and am thinking about getting into a career in Sales. As far as copywriting goes, why couldn’t AI just learn how to copy write and be able to copy write better than any other human?
There’s no reason to prefer a human copywriter over a AI copywriter if it’s all online.
Also if people need a copywriter they will just get a really good one that’s really cheap from India or the Philippines since its online.
Good to learn for your own business though. Just not to do as a business.
You guys clearly don’t work in AM / online sales.
AI cannot write direct response sales copy anywhere near as well as humans and won’t be able to for like 15 years+
Also there is no such thing as good cheap copywriting. Any high quality copywriter checks conversion rates with clients and adjusts their rate accordingly or if even smarter goes into CPA arbitrage like the rest of us
Thanks for the pointers, just realized dating is a good medium trend and can get sold immediately after pandemic is done.
Started reading the blog since I was 17 (currently 23). Followed all the advice in Efficiency and on the blog, about to graduate school debt-free (B.S. in Marketing), I just bought my first apartment in cash while still maintaining a small stock portfolio. Got a job in software sales in January 2020, last month (March 2020) sales were still booming even during this coronavirus mess. I will be attending a Cyber course at a local college for 6 months where I am required to get a security+ cert and learn the basics of cybersecurity (trying to get a sales gig in that industry).
This time in quarantine made me realize I messed up somethings early on in life but I did some other things right (setting myself up for success long term). Thank you guys for everything that you’ve done for me; I’ll never be able to say thank you enough but I really do owe a lot of my current life to finding this blog at 17.
Hey Alex, your story is incredibly similar to mine. Found this blog when I was 16 (currently 21) and also graduating this year debt-free (B.A. in Finance) heading into tech sales. Would love to share about our progressions more in-depth since we’re at such a similar stage!
Honestly what product is worth selling on a online business?
Quite literally everything.
Bowls , Check out Oyster and Toot, they are killing it.
https://www.youtube.com/watch?v=pJ8HVWAOTEk
Go into affiliate marketing then
What language would you recommend learning if trying to get into “high paying” tech?
One of my mentees in college asked me this same question a couple years back, and I still stand by the answer. Learn Korean. Some of the best tech companies in the world to work with and there is a large demand but limited supply. When your new to a field, look for these out of balance scenarios. They might not be what you want but they’re the best place to get started. Once your settled in though with 5 years of experience or more, you can branch out to where there are better places to work / better suited for your skillsets. Good luck!
How does your answer even help OP? They’re asking for programming languages. And FYI, the highest concentration of high paying jobs are based in the Bay Area, seattle, and NY.
Unless you enjoy getting earning peanuts, go learn Korean.
For OP, I would start with python as your first language. It’s the easiest to learn to get yourself in the game. Then I would learn JavaScript because it opens the door to web dev which is where a lot of opportunities are.
Swift is also a good one if you’re looking for mobile dev.
dude wut
Definitely think this will pop the higher education bubble. If it does not completely pop it, higher education will change drastically in one way or another. Will be interesting.
The opposite. Credentialism will be *more* important as a way for the upper-middle class to to signal it is above the lowers.
The dividing line between the middle class and the upper-middle class is something you can bank on. Think Toyota versus Lexus, Nike versus Lululemon.
That trend will accelerate as social mobility between classes will close off.
Upper-middles will spend more, not less, money to signal they aren’t poor or average in income.
Found you guys through Cernovich on twitter and one of my few regrets in life is not having found you sooner. Appreciate the candid and actionable advice. I fucked off a good portion of my twenties being financially retarded (i didn’t have a single person in my life growing up that possessed even a shred of business or finance sense) but have taken responsibility in recent years and have invested all my free time into educating myself and reworking how I think of personal finance and making money.
Fortunately, i’ve had some success with some online ventures (cleared 400k in 2019) and I will continue to scale to the best of my ability. Knowing what to do with the extra cash was where I completely fell short, but you guys have already helped a great deal with that and I can’t thank you enough.
Appreciate it,
L
In process of opening a restaurant that was supposed to open late April. Obv pushed back a bit now (located in Long Island, NY) but very interested in how you guys see things changing and how to be “where the puck is going) in the post-corona world.
LOL Do NOT open a restaurant.
How do you see the present and future of mortgage broking? Is it dead as people can compare and apply for mortgages online now?
Thank you for this blog and exposing the reality of the world and how to gain it.
Should I quit my back-office wealth management job now? Making 70k at 26 (low cost of livi state) with a useless geology degree. Process paperwork and write sql all day…
Thinking of taking your advice and getting into tech/tech sales- would you recommend a 10 month ms program in applied IT (ml, business analytics, cloud services, big data)/entrepreneurship? Program would leave me 10k student loans and have 60k to live on.
Tldr quit back office for tech sales?
Can you guys change your site so its easier to search older articles? the only way is to go “previous page” or type in a previous year in search box.
I Read almost half of your masterpiece Efficiency. Loved it!
Not to waste your time, my Question is i have A Travel started in March 2019 and i was planning to focus on branding for 2020.
Since it’s pretty much Screwed.
But I want to know if you have any suggestions for Tourism sector Company for upcoming months.
Also, in Efficiency you said always strike for emotional needs and *fear of loss* over *fear of Gain*
But how to strike emotional aspect here and get more in revenue because a person will travel only twice or maximum thrice in a year.
So we need to keep focus on acquiring New Customers Everytime
So is it a Good Business? Tourism sector is really good or not good compared to Enterprise sales and finance?
Thank you for your Attention
It’s going to be interesting to see how things play out. Since the Playboys did a great job of summarizing the more near term, actionable stuff. I’ll touch on some “Ivory Tower” type stuff just for fun.
This pandemic will very likely accelerate a couple trends that have been on the rise for quite some time:
-Authoritarian, populist movements gaining momentum: Though many leaders of this bent are already in charge in many countries (including ours) these types of political movements will likely get even more powerful. A lot of people are going to be in rough shape over the next year + and who are they going to blame?… Anyone but themselves. What type of leaders are great at harnessing this frustration/anger? Demagogues who can paint a vivid picture of the enemy.
Whether it be Trump building a wall to keep the immigrants out or Bernie blaming billionaires for the world’s problems, the strategies are similar: “You’re not happy and it’s their fault.” Though this pandemic will likely shake up who the actors are on the world stage, I can’t see the tactics changing much and they could get more extreme. And the more extreme any political movement becomes, the less it matters whether it’s the left or right in charge (horseshoe theory).
Note: I know Bernie is no longer in the race, but I wanted to show how populism is a powerful force on both sides of the political spectrum.
That’s the populist portion. The authoritarian portion will be driven in part by the personality of the politicians themselves, but also by the necessity in dealing with this disease. The havoc this has wrought has woken the majority of people up (myself included) to how big a threat a pandemic is and I think it’s readily apparent that a coordinated government response (South Korea being a common example) is the most effective way of minimizing the human and economic toll. The infrastructure to deliver this response will involve the government gaining more control over monitoring/restricting people’s movement along with enforcing certain requirements like vaccination, quarantine etc.
-Increased wealth disparity: The Playboys have already done a great job pointing out how the economic fallout and government response are likely going to increase the disparity between rich and poor (they used a barbell analogy). Nothing new, but what could it mean in practice? Political movements like the ones I just described. Increased crime and social unrest. Long term economic stagnation, etc. What does this look like in practice? Visit Brazil or South Africa (or really most any developing country).
-Anti-globalisim: This has already started out of necessity (travel bans), but that is likely just the beginning. Like the Playboys pointed out, it’s not like the second the government starts easing restrictions everybody is going to hop on a plane and wing it to another continent. It’s also being talked about in regards to supply chains, technology etc. I don’t necessarily see the trend toward globalization that started after WWII and really took off with China’s opening and the fall of Communism reversing, but I do see it pausing. Some of this will be due to a practical reorganization and some will be due to good ol’ fashioned xenophobia. Either way, in 2021 we will like inhabit a more closed world. What does this mean? Travel is more difficult (red tape), prices rise due to autarkic economic policies etc.
-Inflaaaaaation: Again, the playboys and many commenters have brought this up. The government is printing money as fast as they can. What does this mean? Best case?: your dollars and dollar denominated assets will be worth less and we essentially pass the tough decisions around raising taxes/cutting entitlements to the next generation. Worst case? Hyperinflation, currency controls, USA defaults on debts, dollar no longer world’s reserve currency. Not going to go into detail here (this is something I thought a lot about after 2008 and could write an entire post in and of itself) but we’ll just leave it at: real bad.
Summary of all that spilled ink:
Best Case: A recession accompanied by more extreme political movements along with a more invasive (for better and worse) government.
Worst case: The same as above but far more extreme. Think the 21st century equivalent to the 1930s: Economic depression, closed societies, extreme political movements, followed by…
I’m an optimist and place my bets on the best case scenario being more likely. But some of the ingredients are there for sh*t to get nuts.
For those interested in an entertaining novel about the U.S. defaulting on its debt, check out “The Mandibles” by Lionel Shriver (who also wrote the acclaimed novel “We Need to Talk About Kevin”).
Great post and thanks for taking the time to put all that together and sharing!
I think if you look back far enough, a lot of this started in earnest back in 9/11. COVID has just turned up the heat. The rate of inflation is gonna suck, although personally I have as much to gain from it than to lose. It just makes every decision you make so much harder – it just limits options.
I’m nationalistic, it’s not going to bother me one bit to see trade slow up a little and the rapid growth of global commerce die off some…. But having it at the cost of authoritarianism isn’t the price I wanted to pay. Which in the end is what is the scariest – “you often get what you want, but by the time you get it you realize it wasn’t worth the price you paid”. I’m paraphrasing and I can’t remember what dickhead said that, but more often then not, they’re right.
Isn’t it possible that infinite money printing will NOT cause inflation? We’ve all heard how “software is eating the world”. Uber drives down transportation costs, air bnb drives down hotel costs, Ryanair drives down air fare, Starbucks plus WiFi means that millions of people no longer need an office, remote work saves on gas and commuting costs, low interest rates keep shake oil in business with 25 dollar oil, AND processing power is adding more of these deflationary forces every year. It’s like trying to fill a hole that keeps getting bigger. At the end of the day you can’t eat enough steaks or buy Enough iPhones to fill the hole.
At the end of the day you are increasing supply which should make USD less valuable. No one knows what the existing supply is and how rate of influx old and new cash will enter the system which is why predicting if/when hyperinflation occurs is impossible.
Come on lads Hyperinflation? The issuing of more Debt with low Yields with a not too strong Dollar (measures have worked well so far) GUARANTEES DEFLATION. The current economic system is even more secure now. It’s working just the way the elites want it; Nice correction to grab assets on the cheap, populace almost completely cowed and controlled.
We serve 7000 independent restaurants with our restaurant employee scheduling and communication software. Lots of tough conversations with them over last few weeks. Curious how many are still around in a year. They are generally very creative, we’ve already seen lots of examples of them creating new revenue streams.
In relation to Dead Horse Crypto and Tech Tech Tech – With more and more businesses functioning remotely, the controls for financial transactions will have to change drastically. Financial Controllers absolutely hate remote work and they love paper trails and redundancy (ERP data / Paper backup). Without “paper” or whatever as a backup, they’re going to have to rethink how all this works. I’m curious how most are taking care of it right now, my best guess it’s the trust old email “I approve of this $xxx transaction” which is laughable from a security perspective.
What it boils down to is that ERP systems alone are too weak for most businesses and so they handle these transactions outside of the system. Example – a company will require written or some sort of redundant authorization for anything above $50k leaving the company, and anything above $250k interco. Redundancy is the best theft deterrent. You can’t trust the ERP because all alone it’s insecure (a good DBA could edit a few lines of code and steal the money then falsify the reports when audited – I did this once in a demonstration just to prove a point about security to a douchebag finance controller). Long story short – this could create an unprecedented demand for blockchain financial services and well nearly anything blockchain-related: BlockChain ERP / API programming. Training on BlockChain. Integration Services. Security Auditing. In the big picture, some businesses will go this route and just decide that bitcoin might have some use in their business financial model. I’ve been out of ERP and doing any kind of enterprise architecture for a couple of years but it seems like it might be a good time to pivot back into it.
Covid19 caught most businesses off guard, but when they all reconvene, I’m imagining the first course of business will be ‘what do we do this next time this happens’, if they haven’t already. I’d advise everyone to put on their empathy cap and think “If I were (CEO, CTO, CFO, COO) at my current company / client company what would I do?”
Can concur that copywriting is great right now. Just got into it after self study. Finding projects hasn’t been difficult.
For those interested a couple great books are: The Boron Letters and Advertising Secrets of the Written Word.
I think the real estate buffer period could be a decent(albeit not great) time to sell something and have some liquidity for when things crash.
Ive decided to take your advice on learning copywriting. What did it for me was discovering Dan Lok and how that changed everything for him and how that was the beginning of his path to wealth. You first read the word “copywriting” and its automatic resistance….an automatic “Yaaaawn”. I didnt realize its all around us yet it is a virtually un-named and invisible skill in our society. And it’s being demonstrated all around us. Add the internet to the equation and holy shit. Talk about opportunity. Millions of online business need sales copy. Its only when that word (copywriting) came up more in more than one place form millionaires did I finally hear the message.
I wanted to ask you guys, being a total beginner, what would be the best approach to using this skill….what kind of business(s) could I aim for that are efficient and ultimately automatic?
As one idea I thought about making a copywriting “agency” ( buying a domain and making a website), marketing it, and then outsourcing all the copywriting work. This idea is about taking advantage of this lucrative field limiting my time in it personally. I dont want to be a slave writer always on the hunt for jobs competing on low rent places like Fiverr to pay the bills. I WILL learn the ideas behind this though. Going to read Cashvertising and some others.
So I guess, if I didnt miss it somewhere, could you guys write an in depth article on different ways to profit and create businesses from copywriting? Ideally with the novice in mind? There’s alot of info out there and Im not sure all of it is up to date as well. Some principles last the test of time but others may not. Thanks for reading!
Hey not sure why I’m not getting what you’re saying here regarding crypto:
“…no need to go nuts as we’ve mentioned even $20-40K is enough for a millionaire unless well versed/educated,”
Are you saying investing 20-40K in crypto is enough for even a millionaire unless they understand the technology better they can risk more exposure?
Thanks for clarification! Great article.
2-5% net worth more than enough exposure unless you know what you’re doing…