Marc's Blog

It’s hard to find a stock that will 100x in value, but getting those returns is a lot easier if you build a business. When you’re getting started, you might make $10,000 per year with your business, but you can turn it into $1 million per year with the right framework. You can also follow this model for 6-figure and 7-figure businesses.

Digital marketer Neil Patel lays out the investments you should make in your company to watch it reach new heights.

“Do this to turn $10,000 into $1 million,” he states at the start of a video clip.

Patel lays out the secret, and even if you don’t have a lot of money to invest in your company, it’s easy to get started. 

Hire People Who Worked For Your Competitors

Patel explains that when he started NP Digital, his ad agency, he went on LinkedIn to hire people. However, he didn’t just hire anyone. Patel specifically looked for people who had worked for at least two of his competitors. He even narrowed his search to people who were promoted by his competitors.

This route requires a bigger investment since these individuals will command higher salaries than people who are just getting started. However, Patel mentions that these investments sped up his ad agency’s growth since these people knew the pitfalls.

If someone works for multiple competitors and receives promotions, chances are they do great work. It’s better to pay a premium for a talented employee who can get the job done than it is to save money on wages while not getting as much out of your workers. 

Tap Into Their Networks

Hiring A-players can build a strong company culture that results in high productivity, but that’s not the only benefit of working with these people. When you hire someone, you also get access to their network. 

You can ask your top workers to make introductions to other people who may need your services or want to work for your company. Each time you want to hire more people, you can ask your top workers if they know anyone who would be a good fit.

It’s nice just to do this with one person. However, if your company scales, and you have 10 people working for you full-time, that’s 10 people who have networks that you can periodically access. Your employees can become active advocates or connectors for your business.

Don’t Start A Business Alone

It’s possible to start a business alone, but you are missing out on a lot of great opportunities if you constantly act as the lone wolf. Not everyone has the budget to hire someone who has been promoted at two competitors. However, you can get started with a virtual assistant who may know a few people.

You can use sites like Fiverr and Upwork to find initial freelancers. As you give them assignments that translate into more revenue, you can expand your company. Each person in your business can bring in more revenue than it costs to employ them. 

You don’t have to hire people right away, especially if you have zero business experience. As you do more work on your own, you will get a deeper understanding of what you have to do to move your business forward and how other people can help.

Social media expert Gary Vaynerchuk believes it’s easier than ever to make money. The internet has created possibilities for Gen Z that previous generations never had. You can build personal brands more easily now than a few decades ago.

“These kids have more options. It is so easy to make money,” Vaynerchuk said in a recent clip.

Vaynerchuk recently explained how some Gen Zers are making millions of dollars each year with social media, and he laid out the blueprint of what it takes for you to do the same. These are some of the highlights.

Use Social Media To Grow Your Brand

Vaynerchuk is omnipresent on every possible social network you can choose. It makes sense to be active on multiple platforms since each social network can introduce you to new potential customers.

However, you don’t have to be active on every single platform. Vaynerchuk has a large team that helps him create and distribute content across every important platform. It’s important to keep Vaynerchuk’s budget in mind when comparing his content output with yours.

You still have to choose 1-2 platforms for your business. Focus on the platforms that have the most of your customers. For instance, people who want to make a lot of business connections should be more active on LinkedIn. Any B2C brands that heavily rely on images to generate word of mouth should consider platforms like Instagram. 

No matter what industry you’re in, chances are you will find a social network with 100s of millions of users that has enough people who are in your target audience. You don’t need millions of followers. You just have to establish yourself in the right niche and become known for it by enough people.

Live Social Shopping Is Exploding

Vaynerchuk mentioned that live shopping is exploding and believes that Gen Zers can make a lot of money in the industry. Live shopping is when you promote products on videos and then include your affiliate link in the description. 

People look at online reviews when considering which products to buy. Some people turn to their favorite social media influencers to see which products they are promoting. It’s best to choose products within the same niche instead of promoting everything under the sun. If you like tech gadgets, focus on those. However, if you prefer to recommend cooking recipes, stick with those.

There is some room for experimentation, but you can make a lot of money by focusing on highly profitable niches that you know well or want to learn more about.

You Must Be Willing To Work

A sea of options isn’t enough for anyone to be successful. Vaynerchuk adamantly says that you must be willing to work to tap into all of the options you have to make money. This may sound obvious, but you must be willing to outwork your competition.

Vaynerchuk often works 15-16-hour days. He’s cut out distractions like watching TV and surfing the web. He works harder than his competitors, and that’s part of the reason he has become successful.

Working 15-16-hour days doesn’t guarantee that you will become successful. However, taking more action enhances your knowledge, allows you to learn from common mistakes faster than average, and lets you scale quicker than the average business owner. Committing 30-60 minutes per day is a great starting point, but you should gradually commit more time to the goals that you want to achieve the most in your life.