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Pay Less Tax Why Businesses Are Tax Shelters | Minority Mindset - Jaspreet Singh
I'm Jaspreet Singh & I created Minority Mindset to motivate, teach, and inspire others to do what they want. While going to school and starting my businesses, I realized school is really good at teaching you to be an employee, but it doesn’t teach you to create value & it doesn’t teach you anything about financial literacy. That’s why we’re here. And, no, we are not trying to sell you one of those “bootcamps” or “masterclasses” on how to get rich.
A community of hustlers and entrepreneurs; we are on a mission to motivate, teach, and inspire entrepreneurs and hustlers to be the best they can be, because average sucks. Only a minority of people will risk it all to make their dreams a reality - will you? #ThinkMinority
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Start A Business With $100 Or Start A Business With No Money | Minority Mindset - Jaspreet Singh
What’s up everybody my name is Jaspreet Singh & Welcome to the Minority Mindset. Many people have been asking me what kind of business they should start when they are in high school. So this video is for you.
The first thing I want to say is, there is no difference between a high school business, a college business or a post-college business. You can make millions if you are 12 or 74, if you provide value. So the first thing you have to do is stop saying you want a business for high school, because that mindset implies that you only want to make a small amount of money.
Now, what I think people mean is how do I start a business with little money and resources? So here is what you can do to start a business with under $100.
Start by selling things in person. $100 won’t go a long way if you want to start an online business, you need to buy a domain, website hosting, website designing, inventory, a credit card payment pathway. And this is all before you start any marketing. So start by selling things in person to your friends.
What do you sell? It depends where you are and what is in demand. Ask yourself what do people in your area want and can you provide something that people need? You can buy things in bulk and to get discounts on the unit price and then sell them individually. You can buy a 24 pack of water bottles for under 6 dollars or aobut $.25 a bottle in my area and You can sell them for $1 - $1.50 a piece.
But wait that’s not enough money. Only one dollar a bottle? That’s nothing
You have to start somewhere. This is what hustling is. Your 6 dollar investment became 24 dollars. Sell 100 or 200 water bottles a day, that’s a couple hundred dollars per day selling water bottles. Building money to grow or fund yourself. Mark Cuban sold garbage bags.
Just get started and hustle. With the internet you can buy things super cheap from oversees too. If you want to sell other things, go to alibaba or dhgate.com and find products you want to sell like bracelets or watches. You can buy them cheap and then sell them. But make sure you know your schools regulations about selling things in school, you want your school and surroundings to support you not stop you.
Remember supply and demand, you don’t need a lot of inventory to get started. If you have something people want, and you put people on wait list to get it, you can charge people more because of the demand.
Service based businesses are another good way to get started. Start knocking on doors in your neighborhood and ask if they need someone to cut the grass, pull the weeds or shovel the snow. And then build relationships with these clients. Tell them you will give them a discount if they sign a season contract with you.
Treat it like a business because it is one. Why would a homeowner trust a random kid with their lawn? Because of your flawless presentation. Yes you will get rejected and laughed at. That’s how you ge better, tell them you will give them their first cut for free. Or show them testimonials of happy customers. Get some friends and just go out there and do it.
Every business comes down to supply, demand, and presentation regardless of how old you are. Can you give people something that they need, and then present it in an attractive way. You need to think from the mindset of a consumer and them be the provider. That is how the minority mindset works.
This Video: https://youtu.be/6p4qeF_nXjA
Based in Detroit. #Punjab