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Exclusive Q&A, Part II: 21-Year-Old Super-Entrepreneur Breaks Down ‘Opportunity’ And Being Mentored By Gary Vee

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Swish Goswami’s growth as an entrepreneur and an influencer is hard to miss.

In the first of a three-part interview series, WealthLAB spoke to Swish about how he became a two-time TEDx Talk speaker and one of Canada’s top entrepreneurs.

At 21.

In this edition, Swish breaks down how to create opportunity, the value of mentorship, and being mentored by Gary Vee.

The old “paradigm,” if you will, was that you needed education, business school to actually learn how to start a business. How did you develop the tools to start and run a business—and especially at your age?

I’ll start off by saying I’m pro college. I’m not a fan of entrepreneurs that make it when they are young and start shitting on the school system.

I think at the end of the day it’s a case by case basis: if you’re a naturally confident person with great ideas and the resources to go out and execute on them, maybe college isn’t the right fit for you.

But not every person is in that situation and I think college offers a lot especially in the form of personal development. For me, I built the schools to start largely by just hanging out with other operators. It was cool seeing friends and mentors who had built businesses working on their projects and going through their day.

If you don’t feel like you have that type of network, I’d encourage you to start a podcast or a written interview series (use a platform like LinkedIn or Medium) and start interviewing entrepreneurs and people who had created businesses.

How do you “create opportunity”?

Constantly be in motion. Whether you’re looking to get out of a bad phase in life or you’re looking to create opportunity, just constantly move. Set up calls with people you meet online or in person (preferably people who you want to be in a year or two) and constantly reflect on ways you can provide those people value (introducing them to others, bringing them exposure, etc).

I create opportunity through other people and by identifying ways I can help them and in turn help myself.

My next question is mentorship. Do you have mentors? And if so, how do you find the right ones?

I have a few mentors. They range from high net worth executives like Michael Hyatt (sold his company BlueCat for $400M) to social media gurus like Gary Vaynerchuk and Eliot Robinson.

I met all of these people by interviewing them and being persistent. I am an avid writer and a few years ago, I started writing on LinkedIn. I started a series entitled #UNCONVENTIONAL where I interviewed movers and shakers in various industries. Through it I’ve gone from 0 to close to 70K followers on the platform.

In my opinion, 99% of people in the world love talking about themselves (I am definitely Exhibit A hahaha). This series allowed me to meet many people who I was able to provide upfront value to. Many of those people are my close friends now and it’s great that it started from a place of good and support.

Entrepreneurs

The Top 10 Investment Opportunities To Capitalize On During A Recession

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A recession can be a challenging time, but it can also present opportunities for investors to make smart investment decisions.

During a recession, certain industries tend to perform better than others, and identifying these opportunities can be the key to success.

Here are the top 10 investment opportunities to capitalize on during a recession:

1. Defensive Stocks

Defensive stocks are those that tend to perform well EVEN during economic downturns.

These include companies that provide essential goods and services, such as healthcare, utilities, and consumer staples.

Defensive stocks may not offer the highest returns, but they can provide stability and protection during a recession.

Defensive stocks include Johnson & Johnson, Procter & Gamble, PepsiCo, and Walmart, among others. (You can buy them all inside the NYCE app.)

2. Gold

Gold is often seen as a safe haven during times of economic uncertainty.

As a tangible asset, it can provide a hedge against inflation and currency fluctuations. During a recession, the price of gold may rise as investors seek a safe haven for their money.

READ: 3 Ways To Invest In Gold (In 3 Minutes Or Less)

3. Real Estate

Real estate can be a good investment opportunity during a recession. Especially if you are looking for a long-term investment. (Hence why NYCE exists.)

While property values may dip during a recession, they tend to recover over time. In addition, rental properties can provide a steady stream of income, even during a recession.

After all: Real estate has created more millionaires than any other asset class.

4. High-Quality Bonds

High-quality bonds, such as U.S. Treasury bonds, can be a safe investment during a recession.

These bonds are backed by the full faith and credit of the U.S. government, which makes them less risky than other types of bonds. (Though this has become less safe today than in the past.)

They may not offer the highest returns, but they can provide stability and protection during a recession.

5. Consumer Discretionary Stocks

Consumer discretionary stocks are those that are tied to consumer spending, such as retail, travel, and entertainment companies.

During a recession, these stocks may suffer as consumers cut back on non-essential spending.

However, if you believe that the economy will recover, investing in consumer discretionary stocks can be a good bet.

6. Healthcare Stocks

Healthcare stocks tend to perform well even during economic downturns, as people still need healthcare services regardless of the state of the economy.

In addition, the aging population in many countries is driving demand for healthcare services, which can provide long-term growth opportunities for investors.

7. Technology Stocks

Technology stocks can be a good investment opportunity during a recession, as many companies in this sector have strong balance sheets and cash reserves.

In addition, the shift towards remote work and online shopping during the pandemic has increased demand for technology products and services.

8. Emerging Markets

Emerging markets can be a good investment opportunity during a recession, as these countries may be less affected by the economic downturn than developed countries.

In addition, emerging markets often have higher growth rates than developed countries, which can provide long-term growth opportunities for investors.

9. Dividend Stocks

Dividend stocks can be a good investment opportunity during a recession, as they provide a steady stream of income even during tough economic times.

Look for companies with a history of paying dividends and a strong balance sheet.

10. Cash

Finally, cash can be a good investment during a recession, as it provides flexibility and liquidity. Having cash on hand can allow you to take advantage of investment opportunities as they arise.

In conclusion, while a recession can be a challenging time for investors, it can also present opportunities for smart investment decisions.

By identifying the top investment opportunities during a recession, you can position yourself for long-term success.

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Entrepreneurs

From Zero to Millionaire: How 9-5 Marketing Guy Made A Fortune Selling Pet Rocks As A Joke (1)

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No BS—this is actually a real story.

The pet rock—a seemingly ridiculous idea—became a sensation and made its creator, Gary Dahl, a millionaire in the 1970s.

Dahl, a marketing executive, came up with the idea as a joke during a conversation with friends.

He packaged rocks in a cardboard box with holes and called them “pet rocks,” complete with an instruction manual on how to care for them.

There was virtually no upfront investment, as the rocks themselves were free, and the packaging was inexpensive.

“It was a joke,” Dahl told ABC News years later. “It was a satire. It was fun. And it became an overnight success.”

The pet rocks became an instant hit, with Dahl selling over a million of them in six months.

LEARN: How to build a $100K side hustle in 1 hour.

He appeared on popular TV shows and even wrote a book about his success. The pet rock craze died down after a year, but Dahl had already made his fortune.

After the pet rock craze died down, Gary Dahl continued to work in marketing and advertising.

He also tried to launch other novelty products, such as “sand-breeding kits” and “mood rings,” but none of them achieved the same level of success as the pet rock.

“I think that’s one of the things that is wrong with business today. People are so serious, they forget to have fun,” Gary Dahl said.

The success of the pet rock shows that sometimes the most unconventional ideas can lead to great success.

Case Study: How A $49 Investment Could Make You $100K+ In 6 Months

Why Gary’s story matters to you…

The story of Gary Dahl and his pet rock is a testament to the power of thinking outside the box. Sometimes, it’s the seemingly ridiculous ideas that can lead to the biggest successes.

Dahl’s story is not only inspiring, but it’s also a reminder to keep a sense of humor and not take ourselves too seriously.

In business, it’s easy to get bogged down in strategy and analysis, but we should never forget the importance of creativity and fun.

The success of the pet rock is also a lesson in the power of marketing.

Dahl’s packaging and instruction manual turned a simple rock into a desirable product. It’s a reminder that sometimes it’s not the product itself that’s important, but how it’s presented to the world.

So if you’re feeling stuck in your business or just need a little inspiration, take a cue from Gary Dahl and his pet rock.

Keep an open mind, don’t be afraid to take risks, and don’t forget to have a little fun along the way.

Who knows…you might just come up with the next big thing.

About author:

wealthlab is a platform for hustlers, doers, entrepreneurs and investors to do epic s&%. Our mission is to create 100M new investors worldwide. Join our academy here.*

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Business

How Big Real Estate Moguls Avoid Taxes (And How You Can, Too) 👀

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I was looking around Google for an old article on tax strategies and this five-year old video of myself happened to pop up.

I’m interviewing a tax expert about how real estate investors avoid paying taxes in perpetuity—AND how everyday citizens can do the same thing.

(Real estate—our TEMPLE I and TEMPLE II projects included—has a number of tax benefits savvy investors have capitalized on for years, including Opportunity Zone breaks and 10-year tax abatements.)

There’s the 1031 exchange, of course, which I’ve shared with you guys before. 

Just to refresh your memory, the 1031 Exchange allows you to roll over gains from your last project into a new property TAX FREE—as long as said property is worth the same or more.

But there’s ANOTHER TAX LOOPHOLE that can take your portfolio to an entirely new level by splitting your capital gains into MULTIPLE properties.

So I thought I’d share it with you guys. 💎

You can check it out here.

Let me know what you think. 😎

PS: In our next update, I’m going to break down how real estate moguls get paid from their properties…tax free. 👀
PPS: If you want to learn how to implement generational wealth strategies like this one, you can join our NYCE wealth academy (TRIBE U) here.

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