Transcript
Narrator (0:00)
Introducing Instagram Teen Accounts A new way to keep your teen safer as they grow. Like making sure they've got the right gear for writing, knee pads check and helmet.
Omar Zenhom (0:08)
Done. See you dad.
Narrator (0:09)
New Instagram Teen Accounts Automatic protections for who can contact your teen and the content they can see. Only the best will do for mom. So make Whole Foods Market your Mother's Day destination. Shop the floral department for vibrant blooms like tulips, orchids, peonies and expert crafted bouquets. Then head to the wellness and beauty department and give mom a spa like experience with scented candles and more. And if you're hosting brunch or dinner, order flavorful Whole Foods market catering by May 9. Celebrate Mother's Day with Whole Foods Market in store and online.
Omar Zenhom (0:46)
There are so many scammers out there trying to tell you that you can make easy money. Don't get fooled. Making money online isn't magic. It's not luck. And it's definitely not about finding some secret nobody knows about. But let me tell you what making money online actually is. It's a skill. Scratch that, it's a set of skills. And just like any real skill, whether it's writing, coding or bricklaying, it takes time. It takes practice. It takes effort. So be on the lookout. If somebody tells you that they have a shortcut to instant wealth online, they are lying to you. Today we're going to break down the scams to avoid so that you don't waste your time and money like I did back in the day. What actually works, the real way to make money online and 3 low risk. Not zero risk, but low risk business models. You can start today. Let's get into it. Welcome Back to the $100 MBA Show. I'm your host Omar Zenholm where I deliver practical business lessons three times a week, Monday, Wednesday and Friday to help you start, grow and scale your business. Let's get one thing clear. Business is not a single skill. It's a collection of skills. Sales is a skill. Marketing is a skill. Managing money, hiring, operations. I can go on and on. They're all skills you need to improve over time. And like any craft, you need to learn them. You need to practice them. You need to get better over time. When I first got started in this whole business and entrepreneurship journey, I made a lot of mistakes. Even when I started my software company, Webinar Ninja over a decade ago, which grew to 30,000 users and got acquired by Proprofs, I didn't know everything, but I knew enough to get started. And every day I built upon that foundation. If you're not willing to do that to get started, to learn as you go along, you're not going to make it. Listen, business is simple, but simple doesn't mean easy. Listen, putting a basketball in a hoop is simple, but to do it at the highest level, where you get paid really well, is not easy. And the same goes with business. All right, we're going to get real and honest about the scams you need to avoid, right? I'm going to call out the BS so you don't fall for it. Here's the first red flag that you need to be careful of. Just copy my system and you'll make 10k a month. No business works exactly the same for everyone. If you're selling a system instead of a skill, it's a scam. You are unique. Your business is unique. The customers you're going to attract are unique. Not one thing is going to work for everyone. This is why through this podcast, I'm trying to teach you skills, things that you will use in your own way with your own experience. Next red flag. No work required Passive income on autopilot There is no such thing as true passive income. From day one. You need to invest time, effort, money to have some level of passive income in the future. Even most passive businesses like online courses or memberships or even real estate take a ton of work upfront to set up. But this whole set it up in a few days and forget it and make millions of dollars idea scam. Next red flag. Buy this course and make money immediately. If making money was that easy as buying a course, everyone would be rich. Learning is great, but without implementation, it's worthless. And it's all about the implementation. I could tell you firsthand from selling coaching and courses and all kinds of programs and products. People that implement the program or implement the product are the ones that succeed. And most people don't implement. So the course itself is not gonna make you rich. Is how you apply it to your business and your products and your services is what's gonna make all the difference. Another red flag. Dropshipping is the easiest way to get rich. It's not. Margins are razor thin. Competition is insane cause you're dealing with commodities, products that you could buy anywhere and ad costs are through the roof. If it's pitched as an equipment easy business model, it's probably not a profitable business because you need to put in some effort to get that profit. Real businesses solve real problems. Scams sell shortcuts. So anytime you see somebody telling you this is a shortcut to do this. This is a hack. Don't believe it. So what actually does work? Let's break it down. Let's strip down what a business is to its core fundamentals. A real successful business does three things. Just three things. Okay? Number one, it offers something that people already want. Okay? Very simple. You sell something that people want, whether they need it or want it or desire it, they are willing to buy it. Too many people are offering things that people just don't want, and they're struggling or they're kind of meh about. You want a business, you want a product, you want a service that people actually want or need. Because this is going to make your whole life a whole lot easier. It's going to allow you to push the boulder down the hill and not up the hill. The second thing a successful business has is it sells for a price lower than the value it provides. Timeout. Time out. This is everything right here. Now, this doesn't mean sell things cheaply. It means the value that you offer is so valuable, is so good that the price is kind of not that important. All right? So you sell something for a price that's lower than the value it provides. So, for example, why do people have an iPhone? It's $2,000 because they see more value than $2,000 worth in the phone. So they buy it. They say, that's a good buy. I will buy an iPhone because I value it more than $2,000, and therefore I'm happy to pay $2,000. When it comes to luxury goods, this is even more important. Do you think somebody who buys a Bentley cares if the car is 4 or 500,000? No, the difference between the 50,000 is not that much. Because owning a Bentley is more valuable than even half a million dollars to them. The way they make them feel, the way it feels inside. Whatever the experience you're having, at the end of the day, when you sell a product that is more valuable than the price, this is when you win. Number three, it does all this profitably. Meaning after all your expenses, paying yourself, paying employees, your vendors, all your bills, you still have money left over. You're making a profit. That's it. That's business. You don't need to be first to market. I wasn't first to market with Webinar Ninja, my webinar software. You just need to do something better or more unique than somebody else. Okay, when I say better or more unique, this could just mean serving a specific audience that's underserved. For example, if you want to get into the travel business. Be a travel vlogger. There's tons of vloggers that are serving how to travel on the cheap, how to travel for, you know, $20 a day. An underserved market are people that want to have luxury travel, wanna spend a little money and have a memorable experience cause they don't know how many times they're gonna get to go to that country or have that experience. Making money online is about offering something people will pay for. That's it.