Halal Dollars Business Models - Choosing your Niche

Summary

This 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

00:00

🎯 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.

05:01

💼 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.

10:03

📈 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.

Keywords

💡Niche down

Niche down refers to focusing on a specific segment of a market or area of expertise. The video emphasizes the importance of niching down in business, as it allows individuals or businesses to become highly skilled and efficient in a particular area, leading to faster and more significant results. For example, the speaker suggests that by choosing one business model and concentrating on it, a person can master it more effectively rather than spreading their efforts thin across multiple models.

💡E-commerce model

The e-commerce model involves buying and selling products online. In the video, it is described as a fast way to generate income, especially with low capital investments using DIY methods. However, it is also portrayed as demanding, requiring constant monitoring, interaction with customers, and technical know-how. The model's pros and cons are discussed, with an emphasis on the challenges of managing logistics and customer service.

💡Freelance/Agency model

The freelance or agency model is a business approach where individuals provide services to clients, often in higher currency markets like the US or UK. The video highlights that this model can be highly lucrative, with the potential to earn significant income from a single client. However, it also demands consistent and tedious work to secure and maintain clients. The model requires time, effort, and a laptop to manage tasks effectively.

💡Delivery Agent model

The Delivery Agent model involves acting as a logistics partner for e-commerce merchants, delivering products to customers in various locations. The video explains that this model is suitable for individuals who are agile and trustworthy, as it requires them to handle goods and payments responsibly. It’s a model that can generate income quickly if the agent is diligent and reliable, but it requires significant physical effort and time commitment.

💡Affiliate marketing

Affiliate marketing in the context of the video involves promoting and referring people to specific programs, such as those offered by the 'Allow Dollar' platform. Affiliates earn commissions from the profits generated by the people they refer. The video discusses the benefits of recurring revenue through this model, but also notes the effort required to convince others to sign up and participate in the programs.

💡Content creation

Content creation refers to producing and sharing valuable content online, often to educate or engage an audience. The video suggests this model for individuals with specialized skills, like teaching or coaching. While it can lead to consistent revenue over time, it requires significant upfront effort, persistence, and time before yielding results. The creation of content needs to be continuous and high-quality to maintain and grow the audience.

💡Recurring revenue

Recurring revenue is income that a business or individual receives on a regular basis, often monthly. The video mentions this concept in relation to both affiliate marketing and content creation models, highlighting that once established, these models can provide a steady stream of income. Recurring revenue is an attractive feature of these business models because it offers financial stability and predictability over time.

💡Technical know-how

Technical know-how refers to the skills and knowledge required to perform technical tasks, particularly in digital or online businesses. The video touches on the necessity of technical know-how in models like e-commerce, where setting up and maintaining an online store requires understanding of digital tools, platforms, and processes. Although some DIY methods can simplify these tasks, a basic level of technical competence is still required.

💡Low capital

Low capital refers to the small amount of initial investment required to start a business. The video describes how certain business models, like e-commerce, can be initiated with low capital, especially when using simplified DIY approaches. However, it is also noted that larger investments may be needed for scaling or achieving significant results, especially as costs like inventory and logistics can add up.

💡Demanding

Demanding is used in the video to describe the level of effort, time, and attention required by certain business models, such as e-commerce and freelancing. These models involve constant monitoring, communication with clients or customers, and handling multiple tasks simultaneously. The term underscores the need for dedication and resilience when pursuing these business paths, as they can be time-consuming and require ongoing effort to succeed.

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