5 UNTAPPED Industries that could make you a BILLIONAIRE

Summary

• Choose the right market for business success; as Warren Buffett says, the market outcome trumps entrepreneur skill.
• Pursue industries tied to cryptocurrencies and NFTs; even average players can thrive due to the industry's rapid growth.
• Consider the cannabis industry; it's not only recession-resistant but also has significant room for growth as it becomes more mainstream.
• Invest in e-learning; specialized skills are in high demand, and this market will continue to fragment, creating opportunities for niche expertise.
• Capitalize on the trend of remote living; businesses related to home offices, and mobile studios are in demand as more people work from home.
• Explore warehousing and logistics; with an increase in online shopping, there's a growing need for efficient storage and delivery services.
• Evaluate markets based on growth potential, targetability of customers, existing pain points, and purchasing power.
• Target niches within these high-demand industries to stack the odds in your favor, especially where demand outstrips supply.

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How To Take Action

I would suggest looking at booming industries first. Think about things like cryptocurrencies, NFTs, and anything related to online finance. Even if you're not the best yet, you can still do well because these areas are growing so fast.

You should also consider the cannabis industry. It's tough even when the economy is down and keeps getting bigger. So look for ways to jump in there.

E-learning is huge, too. People want to learn specific skills, not just general knowledge. If you're good at something special, teach it online. There's a big chance for you in that market.

Then, there's remote living. More people are working from home and they need stuff like home office gear and mobile studios. You don't need a big marketing budget because there's already a huge demand for these kinds of products and services.

Don't forget about warehousing and logistics, either. With more online shopping, we need more places to store things and better ways to deliver them. It's a big chance to succeed because people always want things easier and faster.

When you're choosing a market, remember these four points: Make sure the market is growing, that you can easily find and target customers, that there's a real need or problem you can solve, and that the customers have the money to spend.

Lastly, find your niche. Once you've picked a big, growing industry, drill down to find a specific area you can dominate. That's where you'll see a demand for what you offer but not too many other businesses doing the same thing. That's your sweet spot.

By focusing on these strategies, you can join industries with a strong wind at your back, and set yourself up for success.

Quotes

"if you have a good entrepreneur and a bad market, the market wins"

– Alex Hormozi

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"it is far more important to pick the right boat than how hard you row"

– Alex Hormozi

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"formal education has failed many of us"

– Alex Hormozi

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"the demand for people to be lazy is very very high"

– Alex Hormozi

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"we prefer to be on the things that have more demand and less supply"

– Alex Hormozi