Over 88% Of Millionaires Get Rich Doing This

There’s really no way around it.

If you have a salaried job, even if you’re making good money, you’re trading your time for compensation.

But that’s like trading diamonds for pearls.

And all rich and successful people know this.

That’s why over 88% of millionaires start their own businesses.

That might be a an e-commerce store, or a consulting service, or even investing in real estate.

It doesn’t really matter what you sell, what you do, or who you work with. The point is that you’re in 100% control of where your money comes from.

And more importantly, you’re also in control of your own time.

But what’s the easiest way to start a business and escape your 9-5 for good?

Do You Need To Own A Business To Be Rich?

Key word here is “own” a business.

What you’re really trying to do is “own” your own money.

A business doesn’t have to be an online store or an advertising agency, it can also be real estate investing, for example.

The important factor here is simply being in charge of how much you can make and how fast you can make it.

Just look at Shopify's founder, Tobias Lütke, who started Shopiy as a software platform to sell snowboards online.

Ever since, Shopify has evolved into a global e-commerce giant, making Lütke a billionaire in the process.

Why An Online Business Is Your Best Bet

It's no secret that the digital market is booming, with e-commerce sales expected to hit $6.5 trillion by 2023.

This staggering number showcases the potential wealth waiting in the wings for those ready to dive into online entrepreneurship.

That’s why the traditional brick-and-mortar route just doesn’t make any sense.

You need to pay on average well over $5,000 a month for a decent storefront location, and with added inventory costs you’re looking at well over $100k just to open the door.

But launching a website can cost as little as a few hundred dollars annually, with many platforms offering e-commerce capabilities at minimal cost.

My 3 Pillars Of An “Easy Business”

There are a lot of other ways to build a business that makes the startup process a total breeze, but here are my top 3 I think really help new business owners get off the ground faster and with less hiccups.

1. Self-Sufficiency

The goal is to create a business that you can operate on your own initially, leveraging your unique skills and knowledge without having to compensate other people.

This approach minimizes overhead costs and simplifies operations, allowing for a more manageable and agile startup phase.

Begin by evaluating your strengths and how they can serve as the foundation of your business.

For instance, if you're skilled in graphic design, offer digital design services to businesses, and make sure you can do all of the work alone.

Utilize platforms like Canva for design, WordPress for website creation, and social media for marketing. These tools reduce the need for a large team and keep costs low.

2. Avoiding Physical Inventory

A lot of people make the mistake of thinking they need to house physical inventory if they want to sell merchandise online.

But that involves buying the inventory in bulk, stacking it up in your house, and shipping it to customers by yourself too.

Not to mention a lot of money spent up front that you might not have.

That’s why if you want to sell a product, either create and sell a digital product like an ebook or a course, OR sell someone else’s product.

By selling someone else’s product, like through Amazon Associates, they handle holding the inventory and fulfilling the orders while you make a commission.

3. Leveraging Organic Social Media Over Paid Advertising

Social media is like free advertising that can hack your business to the forefront if done correctly.

This will save you $1,000s on ads and also give your brand a more trustworthy and organic look and feel than with paid ads.

Focus on creating high-quality, valuable content that resonates with your target audience. Whether it's informative blog posts, engaging videos, or compelling graphics, your content should aim to solve problems, entertain, or educate.

You should also actively engage with your followers by responding to comments, participating in relevant conversations, and encouraging user-generated content. This fosters a sense of community and loyalty around your brand.

Consider something like Patreon as well. For example, if you generate 1,000 Patreton followers all contributing just $5/month, that’s $5,000/month on autopilot.

The BMM Takeaway

Whatever business you decide to create, the important thing is that you realize and recognize the 9-5 trap.

Jobs are designed to make you work tirelessly for the same amount of money with no room to grow except for an occasional promotion if you’re lucky.

That’s why you need your own business.

Ideally, you even want multiple businesses and brands all bringing in separate streams of income, ensuring that if one fails you have others keeping you afloat.

But, he who chases 2 rabbits catches neither, so focus all of your energy on one business at a time. After the first one, you’ll have more money and more time to create more businesses.