- All right, welcome back to the channel.
Max Tornow here.
In this video I wanna talk about
why it is no longer a risk
to build your own online business.
At the end of this video you will know
exactly what business models there are
that pose the lowest amount of risk for you
and this is especially important for you
if you want to build something up
while still having your steady job
and you eventually want to transition into that.
So if that sounds good for you,
let's get you started.
Have you ever wondered whether there's more to life
than a meaningless dead-end nine to five job?
Have you ever dreamed about breaking free,
you know, traveling the world, making good money
while not having to worry that you could get fired?
My name is Max Tornow and I've attained that freedom,
and I've attained that security.
No more office dress code, no morning commute, no boss.
This channel is for you, so here's to your freedom.
All right, first and foremost,
let's talk about picking the right business model.
Obviously, especially nowadays,
there's a lot of different types
of business models out there.
Some have lower profit margin,
some have higher profit margins, and so on and so forth.
You wanna pick the right business model.
What should that business model include?
Number one, it should be able to be built
while you're still in your current profession
so you have again, very low risk.
You don't wanna have to burn the boats
and commit into something before it's even lucrative.
Number two, you want to find something
that has no capital investment
that you need to make in the beginning, right?
Something where you just invest
a little bit of your time and energy in the beginning
to get it rolling, that is also important.
And also, in my opinion,
if you want to have lowest amount of risk,
you wanna have something
that has the highest profit margins.
And if you look at these arguments,
the winner is always something
in the realm of online coaching, online consulting,
or online service providing, for exactly those reasons.
Number one, you don't need any capital to start,
you just start, you just have your expertise,
your energy, and your time
that you're putting in there in the beginning.
Number two, it has very, very high profit margins.
Actually, the only business industry
that has higher profit margins is the pharma industry.
So yeah, with online coaching, online consulting,
you run very, very low risk.
And of course, this is also something, number three,
that you can build literally next to your job.
You don't have to burn the boats.
You don't have to dive into that, you know,
a hundred dollar, a hundred,
you can do it on the side first
and that is very, very easy.
Which brings me to the second point.
Stay away from selling physical products
for exactly that reason.
Now let's say, for example,
people talk about this all the time,
like, oh, what about drop shipping?
Well, the problem with drop shipping is,
number one, you have to sell a physical product
meaning you have to source that physical product,
you have to pay for that physical product.
Either you source it from somewhere,
or you create it yourself,
either way it costs you a lot of money, meaning,
unless you really sell this product very, very well,
you're gonna sit on a lot of costs
and therefore a lot of risks
and then you're involved in this, in this
in this downward spiral, in this,
in this devil spiral
where you constantly have to sell more
in order to cover your costs
which is again, very, very high risk.
The other problem is that when you,
when you're trying to sell physical products is
that you don't have, you don't have high profit margins,
you have very, very low profit margins.
So if someone who does drop shipping says,
"Oh, I made 100k in revenue this month,"
it's great for them, good, 80k is around 80k,
if not even more, is gonna be their expenses,
not so nice, you get 20k profit.
If you have someone who does online coaching,
or online consulting, or service providing,
and they make 100,000 euros, or dollars a month,
almost all of that is profit.
They have around 80k, 90k profit from that,
not cost, profit, because again,
there's no other costs involved
it's literally just your expertise
so your expertise doesn't cost you anything
so you have to be aware of that as well, right?
By the way before we get to the next point
I do want to recommend you our podcast.
You can listen to that on the phone, on Apple, iTunes,
What else we have it on Spotify?
Yeah, Apple, iTunes, and Spotify, our podcast.
Nikita Gunkewitsch, my business partner and myself,
we have a podcast where we go
a little bit deeper into things,
all things revolving, online coaching
online service providing.
If you feel like the YouTube videos
are a little bit too surface level
this podcast is for you.
We're gonna show the links down below as well.
We're gonna put the link down in the description.
It's very informative,
it's extremely entertaining as well
people have been telling us,
so I highly recommend you listening to those.
They're all short episodes
that you can listen to in small chunks
like little value nuggets in each and every episode.
So highly, highly recommend you.
Let us turn, let's talk about burning the boats.
Also here you wanna find something
where you don't have to burn the boats.
A lot of our clients
actually start building their own online coaching,
or service providing businesses,
literally while they're still in
their full-time nine to five jobs
and that's a beautiful thing
because that means you don't have to burn a boat,
so you don't have to commit,
you literally build it up slowly, gradually,
a couple hours each week while you're at your job
and then what we usually tell our clients is,
because what then happens
is our clients start making more money than in their jobs
and then they wanna quit the job right away.
We actually err on the very conservative side here,
we are the voice of reason oftentimes saying,
okay, wait a little longer, all right?
Really make sure that back-to-back
for around three months you're making more money
than at your job and then you can quit it
because at that time
you literally ease into your own business,
you cut out your job, you have zero risk involved,
and that's just such a beautiful thing
because if I think back to, to my times,
when I started my very first online coaching business,
back in the days it was online coaching
for dating and relationship advice,
I did burn the boats, not a smart thing, all right?
Because some people ask now, but Max, you burnt the boats,
all right, I did it, but just because I did it
doesn't mean you should have to do it, right,
it's not necessary for you.
So way back in the days I was studying
at the University of Jena,
I was about to become a teacher for Latin and English,
old ancient languages, including also Attic Greek
were my big passion.
And I said from one summer to the other, no, I quit,
that's it, I got fired from my job as well
and I literally moved to the states to work for free
for a company that I wanted to learn from
and I did burn the boats, not necessary though,
again, really not necessary,
in fact, not recommended, stay safe, stay secure,
especially in times like these,
build something that allows you
to make very, very high profit margins,
build something that allows you,
that it's easy to start
where you don't sit on any capital
you can just start like this,
anybody can start like this
with their online coaching,
or online service providing business
and obviously build something
that does not require you to burn your boats,
very, very key.
So yeah, that being said, how do you build a business then
that is, that is very easy to start.
I don't wanna go into too much details here,
but ultimately if you're watching this right now
basically number one, assess your skill level, right?
That means what skills do you have?
Where are you two to three steps ahead
of the average person.
Oftentimes this might even be a skill
that you have acquired in your job.
Lots of people come to us they say, you know,
I used to do web developing,
I used to do work in sales, or in marketing,
social media agency, social media management,
and so on and so forth,
that's immediately something
that you can build into your own online business.
But even if you have any outside skills
like maybe you're very good at fitness,
you've lost a lot of weight,
you've gained muscle mass,
maybe you're a social person,
you found your dream partner, maybe, you know,
a second language, you've mastered your second language.
We have a bunch of those kinds of interviews coming up
people that literally make $12,000 a month
by teaching a language.
We actually have had one already,
Peter, Peter McCaslin made I think $32,000 in nine weeks
by teaching Spanish online.
So ask yourself what a skill of yours is.
If you don't know it exactly
we can also analyze your strengths
and then basically you go from there,
but that would be the first step.
So I want to invite you to book
a free consultation call with us,
either with me directly,
or with a member from my team,
all you have to do is you click that link
down in the description below.
So if you already have a skill
and you wanna learn how to monetize it, click that link,
but even if you're not sure yet, and you're like,
hmm, I have to have my strengths analyzed,
I'm just an average joe, a jack of all trades,
that colors for you as well.
So like I said, you click that link down in the description,
it brings you straight to the website.
You can read through the website
there's a little bit more information,
but most importantly for you at the bottom of the website
you scroll all the way down,
that's where we put the application.
You fill out an application for that free consulting call,
it takes you two minutes to fill it out,
and then you can book an exact date and time
where you want us to call you.
Two things right away though, number one,
you'll be talking to a real person,
not an automated bot, or something like that.
Number two, this is not gonna be some,
some watered down general advice, mainstream BS,
we're actually gonna be giving you
only very, very implementable steps
so I highly recommend you do that.
And so if you're someone that spends hours a day
in a job that they hate,
and a job that doesn't fulfill them,
and you wanna build something on the side
with very, very low risk, that call is for you,
like I said, linked down in the description below.
So let's talk very, very soon.
Thank you very much and bye-bye.
- Hey-o, FBF family, I just closed my first client.
I don't even know how I did that,
like actually I literally
just connected someone on LinkedIn.
I just asked him a few questions,
I saw I can help him,
so I pitched him for $1,000.
I'm so grateful for that program
and on to the next one, ge-ge!