How To Make $10 MILLION in 2024 | Dickie Bush & Nicolas Cole
Jan 18, 2024
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Dickie Bush, Co-Founder of Premium Ghostwriting Academy, and Nicolas Cole, Co-Founder of Ship 30 for 30, discuss the best ways to make $10M in 2024, including hyper-niche paid newsletters and AI-powered book publishing. They also explore ideas like selling pet supplements in a lucrative niche market and the success of CoPilot, a niche personal finance tool. They touch on the evolution of SaaS platforms and potential business model changes, the Gocker shutdown, and the lack of curiosity as a superpower.
Creating a niche pet AG1 supplement could tap into the emotional bond between pet owners and their animals, offering high profit margins and a less proof-focused market.
Paid newsletters and memberships can generate sustainable cash flow by providing specialized content and leveraging recurring revenue for further monetization opportunities.
Entrepreneurial success stories should focus on measurable outcomes like monthly free cash flow instead of excessive optimization and unrealistic productivity practices, promoting a more balanced and realistic approach.
Deep dives
Opportunities in the Pet Supplements Industry
The podcast discusses the potential of creating a pet AG1 supplement, highlighting it as the best business idea currently available. With high profit margins and a market that is less concerned with proof of efficacy, a pet supplement could tap into the emotional bond between pet owners and their animals. By offering a niche paid newsletter that provides specialized pet care information, entrepreneurs could tap into the growing trend of pet owners treating their pets like family members.
The Value of Paid Newsletters and Community Memberships
The podcast delves into the potential of paid newsletters and memberships as sustainable cash flow businesses. By providing valuable, niche-specific content and information that is not readily available elsewhere, entrepreneurs can create recurring revenue streams with high profit margins. The key lies in leveraging the recurring revenue as a starting point, rather than the end goal, by offering additional products and experiences to the existing customer base. This approach allows for the expansion of offerings and further monetization opportunities.
Discrepancies with Online Success Narratives
The podcast highlights the need for a more accurate portrayal of entrepreneurial success stories. Many online success narratives focus on optimized routines, unrealistic levels of productivity, and exaggerated revenue figures. The hosts emphasize the importance of focusing on measurable outcomes, such as monthly free cash flow, while questioning the value of excessive optimization and the pressure to conform to certain productivity practices. They suggest the need for a more balanced and realistic approach to entrepreneurial narratives and online content.
The potential of starting a paid newsletter on finance for a specific age group
The podcast episode discusses the idea of starting a paid newsletter focused on finance for individuals in their mid twenties to pre-40s. This age group is seen as having unique challenges and questions regarding finance. The hosts express that while it can be fun to discuss these topics on social media, there is a stigma and potential for negativity when discussing topics like money and dating on platforms such as Twitter. Therefore, creating a paid newsletter with a hyper-specific group of engaged subscribers is seen as a way to provide valuable content without the negativity of public social media.
The potential of the group coaching model and building a SaaS product
The episode explores the potential of the group coaching model as a scalable and profitable business. The hosts suggest that a group coaching program can achieve revenue in the range of $5 to $10 million if the category is right. They highlight how asynchronous curriculum, real-time support, and community engagement are essential components of the group coaching model. Additionally, the episode touches upon the idea of building a software-as-a-service (SaaS) product to complement the coaching program. They mention the need for a more streamlined and niche approach to SaaS, similar to CoPilot for personal finance, where different niches can be targeted with tailored versions of the product.
I'm joined by Dickie Bush, Co-Founder of Premium Ghostwriting Academy and Nicolas Cole, Co-Founder of Ship 30 for 30. We talk about the best ways to make $10M in 2024 if you were starting from scratch: hyper-niche paid newsletters, AI-powered book publishing, and so much more.
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