Influencers

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.

Social media expert Gary Vaynerchuk has advised many business owners on how to scale their companies with various social platforms. He helps seasoned pros and individuals who are just getting started, and his recent advice catered to the latter audience.

It’s easy to feel like you are not qualified to start a business or that you lack the necessary skills. However, that is completely normal for beginners, especially if you are facing impostor syndrome. Vaynerchuk explains that there were many successful people who had no idea what they were doing before they got started.

“Most great companies were started by people who never did anything before,” he said. 

Vaynerchuk proceeded to share some advice for people who are getting started with their businesses. Here’s what he said.

Prioritize This Group Of People When Listening To Advice

He said that it’s normal to come across people who express skepticism about your ability to start a business. While constructive criticism is good, these types of people almost never offer constructive criticism. 

Some people want you to fail as a business owner because you are taking risks that they never took in their lifetime. Furthermore, Vaynerchuk explains that you should prioritize advice from people who live the life that you want to live.

If you want to become a successful entrepreneur, listen to entrepreneurs. Many business owners are happy to share their experiences, what worked for them, and some of the things you can do to get ahead. You can ask local business owners, watch videos of entrepreneurs sharing how to grow a business, and participate in online groups filled with entrepreneurs to learn from these individuals.

Build Your Experience

Vaynerchuk recommends working for someone who can give you experience in the field in which you want to start a business. This strategy can give you the inside scoop on how companies in the industry operate and offer plenty of industry-specific hands-on experience.

While working for someone is a good option, that’s not the only way to gain experience. You can also read books, watch videos, and listen to podcasts about business and your industry. Accumulating knowledge will give you a competitive advantage, but you have to apply that knowledge for it to have any value.

You can get started with a blog and experiment with content marketing strategies to reach more people. A business owner who wants more clients can start prospecting and sending cold outreach emails to see what works. Business owners have many options for building their experience, but they must actively grow every day to excel in their industry.

Work Harder Than The Competition

The most successful business owners often work hard, and if you have a full-time job, you may have to tackle a more challenging schedule for a few years before you can take the leap. It’s easier to become successful in an industry that pays well and offers enjoyable work. 

Entrepreneurship is not easy. It’s much harder than getting a job in the short run, but it becomes much easier and freeing in the long run, assuming you set up a successful business. You will have to outwork a lot of people. Average people getaverage results, but entrepreneurs must be above average just to be noticed.

The best way to outwork everyone is to give yourself a compelling reason. Having a big goal in mind will push you to work harder than if you only set small goals for yourself. If being an entrepreneur won’t really change your life, then you won’t put in life-changing amounts of effort. Business owners with the right motivation and timeframe can succeed even if they don’t have any experience. Everyone starts from zero.

Alex Hormozi has achieved exceptional results as a business owner through various acquisitions and his efforts to build a personal brand. He has one of the most intense work ethics in the industry, and he recently shared why many people fall short of being exceptional.

“Most people live the same six months 100 times in a row,” he said in a recent TikTok.

He went on to explain the behaviors and routines that people don’t change, and it’s one of the reasons why people are stuck. Here’s how you can use this insight to flip the script and achieve your business goals.

Experience New Things

Hormozi listed several red flags that indicate you’re doing the same six months 100 times in a row. He explained that it’s a problem if you have the same job, do the same small talk, tell the same jokes, hang out at the same places, and meet with the same people.

While it’s great to have some sense of familiarity, it’s also important to expand your horizons. Business owners who don’t grow beyond their current networks will have limited opportunities to increase sales in the future. You still have to nurture customers with email marketing, social networks, and other platforms, but it’s just as important to meet new people and do some outreach.

You should also continue to learn new skills instead of having the same knowledge. If you’re already good at social media marketing, consider learning online advertising next. Some businesses have deep enough budgets to hire ad managers, but it may be a good idea to have a basic understanding of how online ads work before working with someone. That way, you will know if someone you’re working with is truly knowledgeable or if they are taking you for a ride.

Get Out Of The Comfort Zone

Hormozi also cites people’s unwillingness to get out of their comfort zone as another factor that holds them back. If you are unwilling to be uncomfortable, you will never change. 

This is an important distinction since achieving better results requires that you change. You cannot reach the next level unless you apply more action, learn new things, and meet new people. You have to regularly do each of those three things to achieve extraordinary results.

Horomzi has mentioned before that you can only choose between comfort and growth. It’s not possible to have both. Comfort will lead you away from growth, but if you grow, it requires doing uncomfortable things. If you’re comfortable, there’s probably a problem.

You Have To Be The Exception

Hormozi wraps up the short TikTok clip by explaining that most people are average and stay stuck in the same patterns. It’s pretty easy to be average, but if you want to be exceptional, you have to be the exception.

For Horomzi, that means outworking his competition, developing a massive network for himself, and regularly posting new content that has attracted millions of followers. It’s easy to post on social media for a week and then give up because not enough people see your content. However, it’s a completely different ballgame if you post on social media every day for a few years.

It’s hard to get exceptional results, and that’s the way it will always be. Things that are the most rewarding often require the most effort. The more challenging the goals, the more exceptional you must become to turn into the type of person who can achieve those types of goals.