I Tried 50 Business Ideas. These 3 Made Me Rich...

Summary

In this video, the speaker shares their journey of experimenting with over 50 business ideas, some of which failed while others led to millions in revenue. From eBay to Amazon FBA, niche websites, software tools, and more, the speaker emphasizes the importance of trying new things quickly and learning from failure. Highlighting key successes like Longtail Pro and Link Whisper, they encourage aspiring entrepreneurs to take action, start their own projects, and not wait for perfection. The message: 'Don’t research forever—just start and learn as you go.'

Takeaways

• 😀 Trying multiple business ideas increases the chances of finding success, even if most of them fail.
• 😀 Failing fast and trying new things quickly has become a strength, rather than a weakness.
• 😀 Early business failures, such as selling used items on eBay and starting a swimming pool business, taught valuable lessons.
• 😀 Niche websites became a turning point, with small sites making $100/month, eventually leading to $20,000/month by 2011.
• 😀 Longtail Pro, a keyword research tool, was developed from an idea, resulting in a $18 million sale after five years of hustle.
• 😀 Amazon FBA and selling pillows became a major success, eventually leading to a $425,000 sale of the pillow business.
• 😀 Several business ventures, such as faceless YouTube channels and software companies, failed, but learning from them continued.
• 😀 Pinterest and Facebook pages were tested with mixed results, but one Facebook page now generates $3,500/month.
• 😀 Trying out WordPress plugins, like Link Whisper, became another successful business after a six-month development process.
• 😀 Starting a business doesn't require courses or experts; watching YouTube videos and taking action is often enough to get started.

Q & A

What is a 'Serial Trio-preneur' and how does it relate to the speaker's business approach?

A 'Serial Trio-preneur' is someone who actively pursues multiple business ventures simultaneously. In the speaker's case, it reflects their approach of trying out numerous business ideas, learning from failures, and eventually finding a few that lead to significant success. The speaker's ability to juggle multiple ideas and pivot quickly has been key to their entrepreneurial journey.

What role did failure play in the speaker's success?

Failure was an essential part of the speaker's entrepreneurial path. Each failed business idea contributed to developing the habit of quickly testing new ideas and learning from mistakes. The speaker emphasizes that failure is a necessary step in the process of finding success, highlighting that trying multiple ideas quickly helped them discover what worked.

How did the speaker transition from a full-time job to running a successful online business?

In 2009, the speaker transitioned from their full-time job in banking to full-time entrepreneurship after experiencing some success with niche websites. With a small nest egg, they invested in building a keyword research tool, Longtail Pro, which became their second major success. This move marked the beginning of their full-time career as an entrepreneur.

What were the main components of the speaker's first big online success?

The first big success came from building and monetizing niche websites. The speaker created small niche sites targeting specific keywords with minimal investment in domains and hosting. These sites eventually generated around $20,000 per month through Google AdSense, which was a significant turning point in their entrepreneurial journey.

How did the speaker's investment in Longtail Pro contribute to their success?

The speaker invested $2,500 into developing Longtail Pro, a keyword research tool. This tool initially generated enough revenue to recover the investment within two months. Later, after a more significant investment of $155,000, Longtail Pro became a highly profitable business, eventually leading to a sale for $18 million. It became the speaker's second major success.

What were the successes and failures related to Amazon FBA?

The speaker had several unsuccessful products in Amazon FBA but eventually found success by creating and selling various types of pillows. This successful venture was sold for $425,000, making it the speaker's third big win in their entrepreneurial journey.

What lessons does the speaker share regarding the importance of trying new ideas?

The speaker emphasizes that trying out new ideas quickly is more important than extensive research or waiting for the perfect plan. By trying dozens of business ideas and learning from both successes and failures, the speaker was able to refine their approach and eventually achieve substantial success.

Why does the speaker recommend starting an online business without formal education or courses?

The speaker believes that people often overcomplicate the process of starting a business by waiting for courses or expert advice. They suggest that watching a few YouTube videos and taking action can be more effective than spending months researching. The speaker's own background in banking, not software development, proves that anyone can figure it out with enough effort and willingness to try.

What was the outcome of the speaker's experiment with faceless YouTube channels?

The speaker experimented with faceless YouTube channels, with one of them initially failing. However, a second channel gained traction, now attracting around 20,000 views per month and generating income through affiliate links. This demonstrates the speaker's ongoing experimentation and learning from both successes and failures.

What is Link Whisper, and how did it become a successful business?

Link Whisper is a WordPress plugin created by the speaker to automate and simplify internal linking for websites. After developing the idea and investing significant time and resources, Link Whisper became a successful product that generated consistent revenue. It represents another example of the speaker turning an idea into a thriving business.