Best Businesses to Start in 2023 (TIER LIST)

Summary

• YouTube as a platform for creators: It's an excellent opportunity due to strong monetization with creators earning millions, but it requires a massive amount of effort and resources, with some top creators having large teams behind them. Your product is your videos, which serve as marketing themselves. However, it's not for everyone; I rank it a 'B'.

• Twitter ghostwriting: Writing tweets and threads for others can be difficult, especially in mimicking someone’s personal voice. The income potential is lower than other platforms, with the average Ghost Writer earning $50,000 a year. Yet, there is an opportunity with clients who lack a social presence and value the service, making $5,000-$8,000 a month reasonable for high earners. Target markets could include VC funds and investors. I rank this a 'D' due to better options being available.

• Short-form video agency: There's high demand, but with a low entry barrier, the market risks saturation. Competing on price isn't advisable. Instead, creating high-quality content for premium clients is the key. Ensure effective talent management and avoid the middle market; aim for premium or budget, but never in-between. I place this at an 'A'.

• Copywriting: Despite AI advancements, talented copywriters are still needed. The field is predicted to grow by 7.6% by 2026. Becoming a world-class copywriter can lead to significant income, but it takes considerable effort. Given current technology, I pair copywriting with short-form video agency on expectations and value, placing it at an 'A'.

• Dropshipping: Although the drop shipping market is growing, the returns on investment are shrinking. Competition leads to a race to the bottom with lowered profit margins. The need for continuous ad creation and higher advertising costs make it less appealing. I would rate drop shipping lower than some other opportunities; it's not specified, but implied to be less favourable.

• Landscaping business: It has relatively low startup costs and there's demand for services. Focus on clients with disposable income and locations with favourable weather to avoid seasonality. However, increased labor costs and potential weather volatility are factors to consider. I rate landscaping at a 'C' for its direct trade of time for money and these challenges.

• High ticket closer: Sales skills are valuable and in high demand, and they can yield high earnings. It's crucial to sell products you believe in to avoid tarnishing your reputation. While wary of scams, due to its earning potential and applicability, I value this skill highly, ranking it 'S tier'.

• TikToker: While TikTok users can earn substantial income, recent changes to the platform and potential geopolitical issues make its future uncertain. Diversifying one's social presence is advised. As the market is less lucrative than YouTube and faces uncertainties, I rate TikTok at a 'C'.

• Affiliate marketing: It's a large market, offering the opportunity to specialize in marketing without running an entire business. One can earn millions if they're skillful. Ensuring product quality is critical. Affiliate marketing has great potential if pursued with integrity, earning it an 'S tier' from me.

• Twitch streaming: The platform is growing, but it doesn't offer the same earning potential as YouTube. Top streamers earn significantly less in comparison. I place Twitch at a 'C', suggesting it's not the best opportunity if you're aiming for high earnings.

• B2B (Business-to-Business) coaching: Ideal for those with expertise looking to help other businesses. However, I caution against those without genuine experience offering services in this field. It's a strong opportunity for knowledgeable experts, but due to the prevalence of unqualified advisors, I position B2B coaching at a 'C'.

Video

How To Take Action

A good way to start is with a short-form video agency. Create quality content for big brands for free initially to build up your portfolio. Charge premium prices for premium clients. Focus on managing your talent efficiently so you can keep your editors and clients happy, making sure they produce consistent work.

For copywriting, remember that talent matters. AI tools can help, but you can't rely on them to do everything. To be a top copywriter, invest time in improving your skills. Aim to become world-class because this will allow you to make serious money. Understand that copywriting will require effort but the potential rewards are significant.

If you have sales skills or the willingness to learn, become a high ticket closer. Make sure to sell products you believe in because your reputation is on the line. This skill can lead to high earnings and has a wide application across many aspects of life.

Another option is affiliate marketing. It's a large market where you can earn great money if you are skillful. Learn about marketing in isolation, focusing on a product you can vouch for. Be picky with your product choices to maintain integrity and your personal brand.

Landscaping can be an option if you prefer physical work and want low startup costs. Aim for clients with disposable income in locations with good weather year-round. Be mindful of labor costs and weather volatility.

For those interested in B2B coaching, only pursue this if you have genuine expertise and experience. Ethical considerations are crucial here — ensure you can truly add value to another business before offering coaching services.

Remember to always diversify your social presence so you're not too dependent on one platform's success or failure. This will help secure your business for the future, no matter how the digital landscape changes.

Quotes by Leila Hormozi

"I like YouTube because it's the best platform in my experience for creators"

– Leila Hormozi

"Your product is essentially marketing you can be extremely good at marketing and suck at most other things and crush it on YouTube"

– Leila Hormozi

"I would be positioning myself as premium rather than competing on price"

– Leila Hormozi

"Sales and persuasion is just so applicable across all other areas of life"

– Leila Hormozi

"You can make millions and millions of dollars in affiliate commissions alone if you are very good at affiliate marketing"

– Leila Hormozi

Full Transcript

business opportunities of 2023 starting with YouTuber I like YouTube because it's the best platform in my experience for creators the ease of monetization is built well for creators and the reason I say that people are still making the most money on YouTube Compared to any other platform I mean people are making millions and millions and tens of millions of dollars according to Forbes estimates like unspeakable making 28.5 million dollars Logan Paul making 18 million dollars and then we all know Mr Beast who's making over 50 million dollars on YouTube mind you that's just from AdSense that's not from all the collaborations that people can do and it's not from any promotions that people are doing on top of the AdSense Revenue I wouldn't rank this number one I personally have seen the behind the scenes of how much effort it takes to become a Mr Beast to become an era to become a Collins Keys these people have 15 20 30 people on their teams then you're gonna have to dedicate the same resources they do and I don't think that everyone's willing to do that the cool thing about YouTube when you're making the money off of AdSense is that your product is essentially marketing you can be extremely good at marketing and suck at most other things and crush it on YouTube because your product is the videos you're putting out for all those reasons I ranked it a b the second opportunity I'm going to rank is Twitter ghost writing okay so what is Twitter go starting if you don't know it's essentially writing tweets and threads on somebody else's behalf or on an account's behalf this is usually for people that don't have the time to create threads or even do tweets and so somebody else is writing those or being a Ghostwriter and then they're being posted on that person's behalf I would rank this lower on the list not because I don't think there's a demand for it but because of the level of difficulty so if you think about this being able to write in somebody else's Voice is pretty difficult and I know this from first hand experience knowing Twitter ghost writers and how hard it is to match somebody's voice when that person has a prominent presence on all other platforms so I can see how this would end up having a high level of churn Appliance if you start this the second reason is when I was researching Twitter ghost writing the amount of money you can make it was not nearly as appealing as YouTube Tick Tock or really a lot of other opportunities so I saw like articles being written about people that were making 200 250 Grand a year doing Twitter post writing I'm not saying that's not good money that's good money however I looked at the average Twitter Ghost Writer income and the average Ghost Writer makes about 50 000 a year are you like killing it crushing it Etc probably not especially if you're doing it on your own it seems like there's limited by that I'm saying for the cost of your time I think that there's a lot of other opportunities that are better with the same amount of work so where I think there is opportunity to be a quitter Ghost Writer is to find people who don't yet have a presence on that platform and probably not on other platforms as well and so then you can say hey I can help you expand to this platform and probably it's that they're too busy right so find somebody who it's clear that they're not making money from social media and they make money from a different opportunity say like a whole business that they have I think those kind of clients are going to care less about what you post they're going to just be grateful to have some presence on the platform and they're probably not going to be as price sensitive you know five to eight thousand dollars a month would be reasonable in my opinion to charge somebody who's making tens of millions of dollars a year I think there's an opportunity even further in there for like VC funds investors because a lot of times what you see on Twitter is that they're using Twitter to announce when they've got a new fund when they're looking for investors and in my opinion that's probably the most valuable Market that I would Target if I were a Twitter Ghost Rider Twitter ghost riding I would rank it a d it's not that it's a terrible terrible opportunity I just don't know if it's worth the time when you have so many other opportunities available the reason I'm making this video is because I get a lot of DMS a lot of questions a lot of comments about like what's the best opportunity for me to make money I felt like it would be good for me to make this video because I have no incentive I don't sell any of these opportunities I'm not I'm not doing any of them myself personally right now and so I feel like I can give you a very objective Viewpoint or opinion on these opportunities when I give the rankings that I'm about to give just because I bring something lower it actually might be higher for you if you're very good at something but I say that there's an opportunity that's better to make money but you already have the skills to do this thing that makes less money the fact that you already have the skills for this thing means that's probably a better opportunity for you the third opportunity I want to rank is a short form video agency I have worked with short film video agencies and I know a lot of people who run them and so I feel like I have insight into kind of the pros and cons of the short form agencies and as you guys can probably see online it feels like everybody's starting one of these nowadays like you see ads everywhere I know people use our name and ads who haven't worked with I ranked it higher on the list because it does have high demand and I think that if you're looking at any opportunity the first thing you want to make sure is that is there a demand right is there demand in the market for the thing that you are doing or selling now on the other side of that as I would say it's a very low barrier to entry so what does that tell us if there's high demand low barrier to entry then very soon the market probably will be saturated I think that we're already seeing that's happening and it kind of becomes a race to the bottom and so I think you have to navigate this opportunity a little more carefully because if you don't I think that you just end up competing on price and nobody ever wants to compete on price that's not where you want to be so if I were starting a short form video agency I would be positioning myself as premium rather than competing on price I see all these people popping up they're constantly competing on price for example if you go on Fiverr you can find people that do a pretty decent job with videos for ten dollars a video clip instead of playing that game you want to play the complete opposite game one I will tell you this that there's no room in the middle there's literally never a market in the middle you're either at the bottom end of the market or at the top end I would do position myself as premium which is I would associate with big Brands and I would try and just for free do videos for big Brands so I could hopefully get Goodwill with them hopefully then they would let me you know work with them and then I can use those as examples for other big Brands so I can continue to build a roster of high value clientele I think the reason a lot of these agencies don't do well is that they don't understand what it takes to make one of these clips right it can take you anywhere from 90 minutes to three hours to make one clip that's going across these platforms and so if you think about the amount of clips that companies want to put out to get the kind of volume they need what you have to make sure you can do as a company is manage Talent well if you can get clients that can pay premium then you can pay Talent well and you can get good editors they can self-manage and they can have efficient workflows whereas I see with a lot of people is they price low then they get to try to get the cheapest editors possible and those editors can't manage themselves they probably never even worked in a company before and they end up turning editors so fast and then by consequence they turn clients because the work is inconsistent because of that I would say short form agency I would still part it probably at an a the next one I'm going to rank is copywriting that's a spicy topic right now uh mostly because of the amount of Articles and that are coming out on AI and how AI is going to take over copywriting so I've kind of factored that into how I'm going to rank copywriting as a whole copywriting is actually predicted to grow another out like 7.6 I think by 2026. now despite everyone saying that AI is going to take over cooperating it has not done that yet do I think it's not going to do that and it's going to be like oh nobody can ever beat humans no I don't think that at all I think eventually it probably will be able to beat humans but don't count on my word because I honestly have no idea what I do know is that I would rank this below other opportunities because it does require Talent as of right now like what we're talking about this video is being filmed February 2023 as of right now you still need to have some talent to be a good copywriter like the AI is there but it's not good enough to really make up for an absolute copywriter the reason I think the opportunity is still a little limited is if you look at the people that have crushed it in copywriting one they make a ton of money millions and tens of millions and hundreds of millions of dollars a year because there's businesses built off of people who have literally just been world-class copywriters however I don't see AI taking anyone to a world-class copywriter like Gary Halbert level yet or some of the other big names in copywriting like David ogleby who it was arguably called like the father of advertising and I think if you want to really make a name for yourself and industry and make a ton of money then you've got to put in the work it takes to get world class I would say that I would rate copywriting probably I'm going to put it right with short form video agency because I have high expectations of copywriters and like for me at least I think it's like a skill that is completely undervalued and being world-class you can do really great things but I think a lot of companies are just looking for somebody who can like write decent copy so it is what it is the next opportunity we've got is Drop Shipping I made a video on Drop Shipping and people all sorts of controversial comments on there to be clear Drop Shipping is a growing Market still from 2021 to 2022 the industry as a whole grew almost 24 that's a big increase but let me explain to you what has happened which was why I wouldn't rank it like high on the list at all Drop Shipping as a method of delivering Goods has increased however Drop Shipping as a vehicle to make money the returns have decreased basically what happens is high demand low barrier to entry people come in they start competing on price they're selling the same pillow nightstand shower cap whatever it is online on these platforms and so they really just start to be erased to the bottom and that's what's continued to happen in Drop Shipping that you could just throw up any old ad out there like a picture of some hot chick and you could get people to buy makeup advertising itself like the cost of eyeballs has gone up and what viewers will click on the quality has also increased you have to have an entire team creating creative and continuously creating it because you used to be able to also run the same ad for months at a time on these platforms now you've got to be doing multiple ads a day refreshing ads every week the opportunity has just gotten a lot less appealing on Drop Shipping it's just not a great opportunity compared to a lot of other for that being said I would rate drop shipping at the next we've got William speaker I love how low the startup cost is for a landscaping business like you don't need a facility you just need equipment and you need customers and I do think that a lot of people aren't really willing to do this kind of work anymore therefore there is opportunity for those that are willing or a lot of people get it wrong is they don't go after the right customers it's targeting customers that have a decent level of income that they would be paying for landscaping year round and then also making sure that you put yourself in a place where there's good weather year round because what you don't want is a seasonal business where the only time that you're making money is four months of the year so I wouldn't rank this as high because there is a lot of volatility due to weather for example on average a landscaping business makes a very wide range margin-wise between 15 and 45 margin I think that 45 margin is probably where people are in the right kind of neighborhoods that have great weather on the other side 15 is probably like you've set yourself up somewhere like Michigan you don't really care about your lawn because people there aren't as concerned with like looking good to their neighbors and a lot of people are willing to just do it themselves there because that's kind of the work ethic Vibe of Michigan I would have ranked this opportunity higher had this been like 2019 however the cost of Labor to employ people to do the work on your behalf has continued to rise year over year over year in this year alone the cost of like what you would pay someone at minimum wage has gone up a dollar twenty so for that reason and the fact that it's really just exchanging time for money whether it's yours or somebody else's I would probably put Landscaping at a seat so one thing I do want to mention is that Landscaping in comparison if you have like online marketing you know business sales customer service skill set it doesn't look nearly as appealing however if you're starting with like no skills at all and you don't have a high level of education and you're sitting here like wait all these other opportunities feel very overwhelming this may not be a bad opportunity to start with next one we've got is high ticket closer I have personally done this myself I take an in-person Fitness sales High ticket webinar sales did High ticket B2B sales I would rank this pretty high because of the earning potential because I think that even if you don't make say 250 to 350 000 a year which I would say like the top owners are making right now if not more I think it is a skill that's worth having sales and persuasion is just so applicable across all other areas of life I do think it's also in high demand right now because with all the iOS updates and all the costs of advertising Rising a lot of people have actually transitioned from closing sales via online like a shopping cart or webinar to having a sales team and they've actually found it to be cheaper and more efficient the only thing I don't like about this opportunity is that I feel like when you hear like high ticket sales I do think of a lot of scammy spammy opportunities and so like I would never want to encourage somebody to sell something they don't believe in like the reason that I think I even succeeded in sales was I sold things I was completely convicted on when I sold Fitness it's because I was the person that was fulfilling the service I knew I could help them achieve their goals when I sold business is because I was also in control of the service on the back end and knew that I was going to do right by that person so what I will say as a qualifier is if you're going to get into high ticket sales take sure that you're selling a good product because here's what you don't think about selling a bad product people then associate you with being a scammy sales person you don't want that to taint the rest of your career because a company that has a very good product probably isn't going to bring in a sales person who's been selling scammy products for most of their career so because of the earning potential and the fact that I just love it as a skill set and General I would rank this at an S tier next we've got tick tocker that's an interesting one I'm on Tick Tock again I'm not trying to make money off Tick Tock I'm just on there to have a social presence I would have ranked this higher however recently there was an algorithm change so at the time you're watching this video I don't know if it's still happening but I have seen a lot of creators leaving the platform recently and looking at other platforms and as a way of monetizing their social presence now I want to acknowledge that people out there are making a ton of money on Tick Tock still people like Charlie demilio she makes over a hundred thousand dollars a post Kimberly Louisa makes forty seven thousand dollars a post Zach King made forty four thousand dollars a post it's just I'm not sure if I would get onto it right now on top of that if you just noticed the government has banned anyone who works in the government from having Tick Tock from being on Tick Tock and I see it now more articles coming out of other organizations trying to ban Tick Tock from people and I have no evidence to back this at all but could see where there's an app that has been created by a different country I would see other countries that are not The Originators of the app Banning that app eventually and so I do think that if you are on that platform I would diversify and make sure that I had backups and if you're looking at getting on it like maybe look at other platforms as an opportunity right now as well I'm gonna throw my bone and call him a c because there's still hope next we've got affiliate marketing affiliate marketing is just when a marketer earns a commission by selling the product from another company so I think it's 16 of all sales in the United States come from an affiliate marketing channel it's a decent sized Market it's like 17 billion I think as of 2022. am I actually the first course that I ever bought when I made my first three thousand dollars in commission selling a high ticket Business Service package I bought an affiliate marketing course and I went through the whole course and I never did it but it was a good course and I learned a lot about affiliate marketing and I actually think it's a really fantastic option for people you can learn in isolation how to Market without having to worry about having an entire business where you all have to learn sales customer service finance like somebody else takes care of all that you can make millions and millions of dollars in affiliate commissions alone if you are very good at affiliate marketing and then if you decide you want to start a business later arguably one of the most important skills is marketing and you can learn the rest later and so I think it's very valuable the only thing I don't like about affiliate marketing is again and this goes down with the sales one is a lot of people don't do their diligence on the product that they are pushing the more skilled marketers are very picky with the products they'll affiliate with so I'd say if you do get into this be very careful about doing the diligence on the products you're pushing so for those Reasons I'm going to rank in s tier there's hair to any opportunity everything's always good and bad but I think that it's a really good opportunity next up we've got twitch streamer I arguably know not a ton about twitch but I do know a few things it's not something I've done I know people who make money off of it I know that it's growing quickly I think twitch grew like 30 year over year in terms of views so obviously it's a growing platform there's a ton of different ways to monetize you can sell merch you can do fan funding you can make money for views however what I have seen is that like there's nobody making the kind of money people are making on YouTube I think the top twitch streamers making like around three to five million a year right now whereas the top people on YouTube are making close to you know 50 100 million dollars a year I wouldn't rank this any higher than YouTube so I would rank this at a seat and last on the list we have the B2B coaching okay that stands for business to business coaching you or your team gets paid for their knowledge and expertise to bring to somebody else's business it doesn't take a lot of money to get set up but if you're ethical it takes a lot of skills so I think that this industry in general I really like and I get a lot of gratification out of helping people grow their businesses and building out the systems and teaching other people to do those things however what I don't like about the industry or the opportunity is just the amount of people that have never actually done the thing never accomplished a thing and then they teach other people how to do something that they've never actually done that just like kills me inside and I die a little bit every time I see it happen people out there who I think inflate themselves and then mislead people and then those people buy very expensive packages from them only to find out later on that those people are kind of just fluffing up the truth if you are very skilled you have an expertise and people have been begging you to teach them on something then maybe this is a good opportunity you know I think that you can sell fewer units at a higher price which allows like less operational drag than some other kinds of businesses and you can charge again businesses if you're selling to business owners like they have a lot more money and they're willing to dedicate a lot more resources towards making their business better and I beg of you if you don't have the expertise don't take this opportunity so because of that I will rank that at I'm going to rank it as C like it's a good opportunity for somebody who has a lot of expertise like there are more people who fake their expertise than there are people who actually have the expertise