#MoneyTalks: Late Nights Episode #27: How To Make Your Personal Brand Make Money For You
What up #wealthgang.
OK, so whenever there’s economic uncertainty, there’s opportunity en masse—and this pandemic is no different. But we’re not about that COVID-19, we’re about that COWEALTH-20. 🔥
(Yes, really. #cowealth20)
Anyway, in spite of things being the way they are, there’s still money to be made, connections to foster and a life that goes on.
As a result of that, we’ve launched a series right here on WealthLAB TV called #MoneyTalks, dedicated to unlocking opportunity while the ‘Rona got the world shook.
Not only that, WealthLAB TV host Philip Michael recently launched a late-night talkshow version of #MoneyTalks, called #MoneyTalks: Late Nights.
In this episode, we had marketing strategist Audria Richmond on the show, which turned out to be our LITTEST episode ever.
A bonafide branding expert, Audria built her business from $0 to six figures in exactly a year, kicking off a tremendously lucrative career of authoring books, public speaking and turning people into legitimate cash-flowing brands.
Since starting her business, Audria’s written a number of books, amassed a dedicated “UnCloned” following online. In this episode—the highest rated #MoneyTalks episode to date—Philip and Audria dropped gems galore in an epic chat.
Here are some highlights:
- How Audria built her business from scratch, with no clients
- Going from $0 to six figures in exactly 12 months
- The importance of recurring revenue
- Why building a brand is a matter of mindset and execution—NOT “ideas”
You can follow Audria on audriarichmond.com, Instagram or Twitter.
Introducing #Money#MoneyTalks: Late Nights on WealthLAB TV…
As you may have seen, we’ve enlisted impact investor/wealthlab.co editor Philip Michael as de facto WealthLAB TV host to help break down some ways to start investing, build a better network and capitalizing on opportunities during this pandemic.
“There’s no better time than now to start investing, start building a new skill set or just expanding your network,” says Philip, who started in 2014 as a writer with $79 in seed money.
And starting as of yesterday, we’ll be dropping daily vids, with gems dropping en masse on a variety of topics.
About your host…
OK, so if you don’t know Phil, here’s the official bio, jargon and all: Philip Michael is an entrepreneur, investor, bestselling author, and real estate developer.
(He also created wealthlab and #openstage, but that’s another story for another time…)
Since 2017, Philip’s built a company $57M in real estate developments, including the first minority-owned high rise in Jersey City and a $10M AI-powered complex in Philadelphia.
“Our goal—mission really—is to help 100,000 Millennials from underserved communities, whether it’s women or minorities, become financially independent,” he says.
Some recent news:
Philip recently launched a $50M real estate IPO—a story broken by Forbes—dedicated to helping 100K+ Millennials become millionaires by 2030. In addition, he’s an early-stage venture capital investor in women and minority-led startups.
His Instagram account is one of the littest money pages on the ‘Gram, growing by over 400% per month.
A former journalist, Philip’s currently a business columnist whose stuff’s been seen on Forbes, Entrepreneur, Black Enterprise, Biggerpockets.com, Business.com and others.
The Top 10 Investment Opportunities To Capitalize On During A Recession
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.)
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.
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.
From Zero to Millionaire: How 9-5 Marketing Guy Made A Fortune Selling Pet Rocks As A Joke (1)
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.
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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How Big Real Estate Moguls Avoid Taxes (And How You Can, Too) 👀
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.
Top 5 Best Investment Strategies To Survive A Recession
The Top 10 Investment Opportunities To Capitalize On During A Recession
3 Gold Mining Stocks To Buy Today 📲
How To Launch Your Business In 30 Days Or Less
EXCLUSIVE: This Entrepreneur Built A $7B Business Without Outside Funding. Here’s How He Did It
How Mark Cuban Invested $640k In A Company That Started…As A Prank
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