You can work hard every single day of your life and still not be able to reach that 7 figure mark. The reason is that sometimes it isn’t all about hard work. It takes skill, passion, learning, patience, and knowing what you’re good at so you can choose a niche. But if you’re a jack of all trades like Chris Frederick then you don’t need just one niche to keep you busy. There are only about 11 million millionaires in the U.S. and Frederick is one of them.
Instead of learning one thing and diving deep into it, he decided to learn multiple so he can have many different forms of cash flow. A few forms of this cash flow are Investment banking, direct sales, internet marketing, exotic car rentals, eCommerce, flipping and Instagram. These are only a few of the niche’s that Frederick is in.
Frederick states that investment banking is the easiest money that he has ever made because he literally just gives out money and makes more back, pretty simple right? Although there are some risks to this, if you know what you’re doing then the risk is quite small. Frederick also sells Alkaline water filtration systems. Each sale is roughly $4500, Frederick earns 33% of that.
Businesses all over the world use internet marketing because it gets the job done. This can be very pricey but if it works then it is well worth it. That is why Frederick also chose this to be one of his niche’s. All you have to do is hire an agency and pretty soon your business will increase in numbers and expand.
Everybody loves an exotic car, so why not rent one instead of paying a large amount of money on a car that you will barely drive. Of course, Frederick thought of something like this so that is why he is in the exotic car rental business. Frederick states that on average one of his exotic cars will be rented for $300 - $1500 per day which doesn’t sound bad at all.
Frederick encourages you to create your own business and start selling online because the world of eCommerce is rich and filled with opportunity. Scaling a great eCommerce store is easy when you have good advertising.
When it comes to jewelry, Frederick finds a way to make money off of that too. He has learned to “Flip” the old jewelry that he doesn’t wear anymore because he can make a little profit. He has also figured out a way to earn money through Instagram by hiring an agency that will run your social media account and grow it. He has seen many accounts with fake followers that lose money and look bad so he wanted to do it the right way. He has more than 300k followers and it seems to keep going up every day along with his engagement.
Being an entrepreneur is not easy at all, especially if you have to manage more than 7 different types of cash flows. But if you really put the work in and take your time then it will truly be worth it.