Halal Dollars Business Models - Choosing your Niche
Summary
TLDRThis video discusses the importance of niching down in business to achieve faster and more effective results. It explores various business models, including e-commerce, freelancing, delivery services, affiliate marketing, and content creation. Each model is analyzed for its merits and challenges, helping viewers select the best option for their skills and goals. The video emphasizes the need for focus, dedication, and the right resources, such as time, effort, and in some cases, a laptop. Viewers are encouraged to carefully choose a niche and commit to it for success.
Takeaways
- 💼 Niching down in business allows you to become more skilled and achieve faster results in a shorter time.
- 📈 E-commerce involves buying and selling products online and can be a quick way to make money with relatively low capital.
- 🔧 E-commerce demands constant monitoring, customer interaction, and possibly significant capital if not using simplified methods.
- 💻 Freelancing or running an agency allows you to offer services to clients globally, with potential for high earnings from just one client.
- ⏳ The freelancing model requires a lot of effort and tedious tasks initially until you secure your first client.
- 🚚 The Delivery Agent model involves delivering products locally, offering immediate earning potential if you are reliable and active.
- 🤝 Being a trustworthy and accountable person is essential for the Delivery Agent model, as it involves handling money and deliveries.
- 🔄 The Allow Dollar Affiliate program offers recurring revenue opportunities by referring others to specific programs, but it's only open once a year.
- 🎥 Content creation can generate recurring revenue by teaching valuable skills, though it requires persistence and effort before seeing results.
- 💡 Carefully choose your business model and niche, as the choice is crucial and cannot be easily changed.
Q & A
Why is it important to niche down when choosing a business model?
-Niche down is important because it allows you to focus on one specific area, improving your skills and achieving faster results. By concentrating on one business model, you avoid spreading yourself too thin and can excel in that area.
What are the benefits of starting an e-commerce business?
-The benefits of starting an e-commerce business include the potential to make money quickly and the ability to start with relatively low capital, especially when using simplified DIY solutions.
What are the challenges associated with running an e-commerce business?
-Challenges of running an e-commerce business include the demanding nature of the work, requiring constant monitoring and follow-ups with customers, as well as potentially needing a significant amount of capital if not using simplified solutions.
What are the main advantages of the freelance or agency business model?
-The main advantages of the freelance or agency model include the potential to earn substantial income from clients in countries with stronger currencies, such as the US, UK, or Australia, with one client potentially paying as much as $1,000.
What is the primary disadvantage of the freelance or agency business model?
-The primary disadvantage is the need to perform tedious tasks consistently over a long period before landing the first client, making it a time-intensive process initially.
What does the Delivery Agent model entail?
-The Delivery Agent model involves delivering products for e-commerce merchants within your locality. You are linked with merchants who need delivery services in different locations, allowing you to earn money by handling deliveries.
What qualities are necessary to succeed in the Delivery Agent model?
-Success in the Delivery Agent model requires being trustworthy, accountable, and physically active. You need to manage deliveries effectively, ensure accurate financial transactions, and be willing to travel to multiple locations in a day.
What is the Allow Dollars Affiliate model?
-The Allow Dollars Affiliate model involves introducing people to Allow Dollar programs, where you earn a share of profits from the people you refer. It’s a recurring revenue model, offering consistent income as long as the referred individuals remain active.
What is a key disadvantage of the Allow Dollars Affiliate model?
-A key disadvantage of the Allow Dollars Affiliate model is the significant effort required to convince people to register for Allow Dollar programs, making it a demanding process.
What does the content creation business model involve?
-The content creation business model involves teaching a valuable skill that you have mastered, such as Quran memorization, parenting techniques, or design skills. It allows you to generate recurring revenue by helping others achieve proficiency in these skills.
What are the requirements to succeed in content creation?
-Success in content creation requires time, persistence, and often the use of a laptop. You must be physically present to perform tasks and may need to invest some money to get started.
Outlines
🎯 Importance of Niching Down in Business Models
This paragraph emphasizes the necessity of focusing on a single business model rather than spreading efforts across multiple areas. Niching down allows for specialization, leading to faster results and better mastery in a specific domain. It is advised that Muslims, despite having many potential business solutions, should concentrate on one model at a time to ensure success. The discussion then transitions to introducing different business models that will be explored to help choose the most suitable one.
💼 Overview of E-Commerce, Freelancing, and Delivery Agent Models
The paragraph provides an overview of three business models: E-commerce, Freelancing/Agency, and the Delivery Agent model. E-commerce involves buying and selling products online, offering quick profits with potentially low startup costs, though it demands significant effort and time. Freelancing or running an agency allows for earning substantial income from international clients, but it requires consistent and tedious work to acquire clients initially. The Delivery Agent model, ideal for those willing to handle deliveries locally, offers immediate income opportunities, but requires trustworthiness, agility, and accountability.
📈 Exploring Affiliate Marketing and Content Creation Models
This paragraph introduces two additional business models: Allow Dollars Affiliate and Content Creation. The Affiliate model involves recommending others to join programs, offering recurring monthly revenue as long as the referrals remain active. However, it requires persistent effort to bring in new members. Content Creation is suited for those with valuable skills they can teach, such as Quran memorization or parenting. This model also offers recurring income once established but demands significant initial effort and persistence. Both models require time, a laptop, and possibly some financial investment to get started.
Mindmap
Keywords
💡Niche down
💡E-commerce model
💡Freelance/Agency model
💡Delivery Agent model
💡Affiliate marketing
💡Content creation
💡Recurring revenue
💡Technical know-how
💡Low capital
💡Demanding
Highlights
Niching down in business models allows you to get better results faster by focusing on one area.
Spreading efforts across multiple business models can lead to lack of perfection in any single area.
E-commerce is a fast way to make money and can start with low capital, especially using simplified DIY methods.
E-commerce can be very demanding, requiring constant follow-ups, tracking, and large capital if not using simplified DIY.
Freelancing or agency models allow providing services to businesses in stronger currency countries, potentially yielding high earnings.
Freelancing demands tedious and consistent tasks to land the first client, after which tasks can be delegated.
Delivery Agent models involve partnering with e-commerce merchants to deliver products locally, offering immediate earning opportunities.
Delivery Agent work requires being accountable, trustworthy, and physically active, delivering products across multiple locations.
Allow Dollars Affiliate program is a yearly opportunity for recurring revenue through recommending others to participate in specific programs.
Content creation as a business model can lead to recurring revenue, particularly for those who have expertise in a specific skill.
Content creation requires persistent effort and time before results are seen, but it provides consistent long-term benefits once established.
For all business models discussed, having a laptop is recommended for efficiency and effectiveness.
Choosing the right business model is crucial, as it determines the focus and success of your efforts.
It's important to carefully choose your niche because once selected, it is challenging to switch to another model.
The importance of being persistent, putting in the required effort, and remaining consistent across all business models to achieve success.
Transcripts
so inshallah today we are going to be
talking about choosing your preferred
business model so why exactly is it
necessary for you to Niche down there's
no other reason other than because
whenever you Niche down you only get
better at that thing and you get results
faster within a shorter period of time
when you reach down to one business
model you believe that you can do this
do this do this do this do this what
will end up happening is that you not
give any of them the required to succeed
and you just find yourself doing or many
things and you not perfect at so it's
from the of Allah subhana tala that when
you Contin do something
so and that's the essence of this so we
want you to ensure that you are always
doing one thing yes we have many
solutions for Muslims but we want you to
do one thing at a time and focus on that
one and do it extremely
well so we have a number of models in
all and we going to be treating them
together in so that you'll be able to
choose the appropriate model that you
believe works for
the first model is the e-commerce model
so what e-commerce is about is just
selling buying and selling products
online so these physical products can be
like CH swatches or other fashion items
other things that people sell online so
uh what are the merits of e-commerce the
from the Merit of e-commerce is that is
a fast way to make money in sense that
once you start buying and selling you
are you can make money quick and the
second Merit is that you can actually
start with low Capital however this is
for those that doing
the Because realistically you need a lot
of money to start e-commerce but with
the allow dollari DIY you can actually
start e-commerce with as as just
9 so for the demerits of e-commerce and
that's these are the disadvantage of
e-commerce the first thing is that it is
very demanding so if you are someone
that you don't like calling people
following up on this following up on
that you don't like interactions and
tracking things and monitoring things
eCommerce might not be ideal for you
because it's very demand reques you to
monitor this product I've sent it out to
this customer as the customer collected
it the customer has collected it okay
the rer has not sent my money why my so
all of those things it requires you to
be following up on a lot of things and
if you are not doing simplified DIY it
will require a large capital from you so
to get started usually we recommend 1
million because with the way dollar is
now 500,000 is not even again so uh the
third thing is that it requires some
level of technical Norm though with the
allow doar simplii have actually
simplified the whole technical um
Journey such that is within a day or two
can actually get started even we don't
have that technical money so what are
the requirements for the e-commerce so
the first requirement is that just as
I've said it's demanding so it also
requires time you need to be calling
people you need to be following up on
the items that you deliver so it's
actually requires time other than that
demand it also requires your time so and
the second thing is that we recommend
that you have a laptop if you don't have
a
laptop you can still do it well but we
just recommend that you have have be lot
easier for
you so the second
of the business models is the freelance
or/ agency model so what's freelancing
or the agency mobile has to do with is
involves providing services to
businesses in US UK Australia and so on
so uh these people have a stronger
currency than we in Nigeria so by the
time they pay us in us
doar it's usually very um uh substantial
from the major Merit is that one client
can pay you as high as $500 as high as
$1,000 at the point of recording this
video $1 isal 1,500 Cent $1,000 that's
like 1.5 million so you can make huge
money just from one person so that's the
major Merit of freelance agency model
for the major disad Advantage is that it
requires you to do a lot of tedious task
consistently for a period of time till
you get your first client so it requires
that after you've got your first client
you can actually when you receive money
from your client you can actually
delegate those Studio STS to other
people to for them to do it for you you
can for or just get it of your NE but
pending that time that you get that your
client you have to work tirelessly so
that is the major disadvantage of
financing model now for the requirement
the requirement is that it's demanding
requires a lot of time you have to be
doing a lot of things tedious activities
for a long period of time and you must
have a laptop for you to be able to do
all of these um tasks that are required
so the next model is the Delivery Agent
model so for this Delivery Agent model
what is involved is
that if you believe you can do delivery
for uh for your locality so we will link
you up with Ecommerce Merchants who need
people to deliver products for them at
different location because e-commerce
has selling prods different locations of
Niger so maybe if for
example or you are at Abuja or you at
ataba do you understand the whenever
that e-commerce Merchant has an other at
location you just person to deliver so
we will link you up with a number of
e-commerce merch people that always have
ERS so that way you'll be able to have a
lot of ERS on your hands and you be able
to have lot of you start making of money
short and that's major
is that in as much as you are not lazy
you can start making money the very
first you are connected with the matter
so but the Merit of that is that you it
usually requires you to be me you must
be able to account okay that okay I have
this amount of Left for this person I
have this amount of Left for this person
must be accountable and the second thing
is that you must be
trustworthy because when you the product
ised you collect money you must be able
to send their money back to them without
any stories so and the third thing is
that it requires you to bew workking you
might have to deliver to this place here
deliver to another place you can go to
four five locations in a day so you must
not you must be someone that is agile
and does not mind going from place to
place so the requirements the only
requirements that is requires from is
that it requires your time so it will
require you to be going from place to
place and it will also require your time
to be able to make those deliveries once
you are you are available for it insh
this is um something that is very
lucrative too so the next one is the
allow dollars affiliate so these allow
dollars affiliate has to do with
introducing people to allow dollar
programs so uh this is something that is
only available once a year it's not
something that is always on so we only
open room to accept new Ines once in a
year whenever we need we open the portal
for registration we going to announce it
here on the community so but even if
you're not in the allow dollar AC you
can also recommend people to uh do some
of our programs and you have a share
especially the m so you have a share of
the profit endings that they make so for
the Merit of the allow dollars affiliate
is that the first one is that that it's
a good way to make recurring Revenue
every month making money every month
consistent they allow affiliate because
whenever people recommend receive a
profit sh you also receive share of as
much those people are still investing
all doll system so the de Merit the
major demerit of this is that requires a
lot of effort from you to be able to um
get people to register allow dollars so
uh for the requirement it requires time
from you so to be able to do all the
things required of you as an allow do
activate and we also recommend you
having a laptop and you might need to
spend some money at some stage of the uh
implementation so the last of them which
is the fifth is content creation and
this has to do people that have a
valuable skill that they have taught
people and people have gotten Prov
results like for example someone that
knows how to teach people to memorize
the Quran or someone that knows how to
um teach people to maybe travel out
travel abroad and you know system that
work numerous times of and he someone
that how to teach parents parenting such
that they'll be able to parent their
children and Gro children that have good
ad and maners or someone that knows any
specific skill maybe even it could be a
specific skill maybe how to design or
something and you have taught people
that skill and people have actually
gained proficiency and you have that
skill so all of people in this category
are people actually in so the Merit of
this content creation system is that
going to going to be a good way of
actually having a recurring Revenue uh
and the major Dem Merit is just that you
need to put in a lot of efforts and you
have to be persistent for a period of
time before you start getting result but
once you get start getting results
you're going to keep on getting results
consistently so for the requirement it
requires your time you need to be
physically present to do some things uh
to be able to achieve results and you
are going to be needing a laptop to get
started and you might need money at some
stages to get one of two things ask that
Allah subhana
makes
so I'm going to put a link to the form
where you are going to
choose the niche you want to go for so
think about it and carefully choose
because once you choose that n you can't
go back so you need to think carefully
and
choose what you think work
for oh
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