While the pandemic hit everyone strongly, the biggest losers were small businesses.
Most businesses had to close down because if you don't have clients, you can't pay rent,
wages, and other expenses of running a business. But that's not the worse statistics. According
to Yelp, The data shows that over 60% of businesses that closed during the pandemic are now permanently
closed. They are not opening their doors again. Most of these business owners spent years,
if not decades building these businesses. The process of hiring one person and training
him is a lot more expensive than most people imagine. I can say that from my personal experience.
But not everyone suffered. Besides top Tech companies who actually profited enormously
out of this pandemic and literally doubled their valuation in under a year, most small
online businesses have done pretty good. And that's the beauty of online businesses because
its immune to such crises. And in the age of the internet, it doesn't
matter where are you! As long as you are connected to the internet, you can do business all across
the globe. But what are the business that is going to
grow this year and next year? Which industries are going to boom in the next few years?
What business should you start if you want to become financially free?
We will answer all of these questions and many more. So give this video a thumbs up,
and let's start with the first one.
Blockchain While most people associate Blockchain with
bitcoin. It's much more than that. As we have discussed in one of the previous videos, Blockchain
makes information trustable and reliable, and in the next year few years, more and more
startups are going to emerge that will focus on applying this strategy to different industries.
The crypto world will of course, keep rising because that's what made Blockchain popular
in the first place. But I can imagine that the entire stock market will be based on Blockchain
because it will automate the process and make it secure. Land ownership, intellectual property,
marriages, divorces will all be stored in Blockchain-based technology, so we will no
longer have land disputes or unnecessary intellectual right fights in the courtrooms.
Accountants work with a spread of documents — from tax forms to bank statements to spreadsheets
— containing extensive personal or organizational information. Layering in blockchain technology
could make it easier to keep track of this sensitive data as it is processed by accounting
firms. Loans, credit, insurances are all can be moves to Blockchain to make them more secure.
I can give you a million other examples, but this is why this industry will keep growing
tremendously this year.
2. Online education
What 2020 proved to many of us is that colleges
are obsolete. We all knew that prior to the pandemic, but we needed to prove it to the
world. People who paid hundreds of thousands of dollars to get an MBA from top universities
realized what a poor decision they have made because, in the age of the internet, you can
learn whatever you want online. And the cost of online learning is a tiny fraction of what
a college degree cost.
Of course, physically attending a college has its advantages, such as building connections,
being able to interact with the lecturer on a personal level, and so on. But most of what
you are taught in college can easily be taught online. And it doesn't even have to be live.
It could be a prerecorded course. I can teach you everything I know about the
stock market without meeting you. In fact, many of you have already taken my course on
Skillshare. If you haven't, you can get it for free using the link in the description
because you will get a two weeks free trial. At the end of the course, you will be given
an assignment which I will personally check and provide you with feedback.
This industry is already booming, and in the
next few years, it will grow exponentially. What I like about it is that anyone can profit
out of this growth by creating a course or a class on a subject that he is good at and
share it on Skillshare or teachable. Online education is growing by 10 percent
a year. That might not seem high, but that's a lot. The industry is crowded slightly, but
as long as you come up with a creative way to teach, you will always find your niche.
3. Tourism
2020 was the worst year in tourism history with 1 billion few international arrivals.
According to various estimates, the industry lost over 1.3 trillion dollars last year.
Yes, we are talking about trillions. The crisis has put between 100 and 120 million direct
tourism jobs at risk, many of them in small and medium-sized enterprises.
While these numbers seem scary, they also present a unique opportunity.
The same players are not going to come back smoothly. The chaos usually creates new players
because it provides new opportunities. The people who are going to adapt and take advantage
of this chaos will prevail. Everyone knows that travel is not going to
go anywhere. In fact, we have taken travel to a whole new level when Virgin Galactic
made history by flying the first tourists to space. By the time this video is ready,
Bezos will probably also complete his flight to space.
In the next two years, this industry will be recovering, which means it could grow by
20,30 or even 50 percent a year. Riding this grow is one in a lifetime opportunity.
4. Digital Marketing
10 years, very few people took this field seriously. Everyone thought that online ads
are always going to be secondary, but they didn't see how smartphones are going to dominate
our lives and how much more data social media can provide. In the world of the internet,
data is everything. If a tv channel can you an approximate estate of their demographics,
social media companies can tell you exact data about their audiences. In fact, you can
buy ads based on where they live, what they do, how old they are, what they are interested
in, what movies do they watch? What they have been browsing online lately and so on.
Online ads are literally a million times more effective than traditional ads, and anyone
who understood how the internet works back in the 1990s took advantage out of it.
Even Jeff Bezos back in the 1990s said that Amazon's greatest advantage is the amount
of data it can collect. Online ads have already overtaken traditional
ads. In the USA, in 2020, Digital ad spend has
reached $151 billion compared to $107 billion for all traditional ads. Digital ads in
the US surpassed traditional ads in 2019. It's on pace to be more than 2/3 of all ad spend
in the U.S. by 2023. Opportunities in this industry are so many
that you can get into this field even if you do not have any experience. After taking a
few courses, you can start offering your services to small businesses. You can use their money
to advertise their products while getting experience in the process. And after having
a few clients. You will have a track record to show to other companies that you can set
effective online ads. Remember, at the end of the day, the goal of any business is to
maximize sales, and if you can help them do that, they will gladly pay you a fortune.
5. Healthcare
Let's be honest, prior to the pandemic. Most
people didn't take their health seriously, except those who had health problems. The
pandemic was like a reminder of the horrible consequences that we could face if we do not
follow simple health guidelines such as washing our hands as often as possible, paying attention
to the food we eat.
The company that took the best advantage out of this pandemic was Moderna. They were getting
ready for such an opportunity since their inception. Thank God I had invested in this
company last back when the pandemic just started. They have developed mRNA technology. It's
a type of vaccine that teaches your body how to make a protein that will trigger an immune
response without using a live virus. And now they are developing vaccines against Flu,
Zika, HIV, and Cancer. They will probably also started developing a different kinds
of drugs. This is a really competitive industry, and
it's not easy to get in. So the best way to take advantage out of this industry is by
investing in biotech companies such as Moderna, but there are more of them in the industry,
such as BioNTech SE, Vertex, etc. The challenge is to find companies that are
working on technologies that will work because if you are uneducated in this field, you can
easily be manipulated and might invest in worthless companies that will go bankrupt
in a few years.
Here you go. These are the 5 industries that are booming currently and will continue to
grow this year and in the years to come. My favorite one is Blockchain since it seems
like the next step in the evolution of the internet, but be careful because its also
filled with scams. Some of them might even be in the comment section of this video. But
before you get into any of them, make sure to do your own research. Watching one YouTube
video is not enough if it's from our channel.
If you have enjoyed this video, you will most definitely enjoy this custom playlist that
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and the stock market that can potentially change your life.
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