Like Chris Frederick, anyone who strives to be a prosperous entrepreneur must start at step one: finding a niche. For beginners, a niche is a stance on what you want to achieve - a calling for some. A niche is the most crucial factor to any business or endeavor you pursue. Why? A niche serves to indulge certain markets and groups of people. It’s what you know and what you can extend to others. Fortunately, Frederick sought more than just one; he sought and performs devotedly in seven: Investment Banking, Direct Sales, Internet Marketing, Exotic Car Rentals, eCommerce, Flipping, and Instagram.
One of the most advantageous income streams that aids in Chris Frederick’s earnings is Investment Banking. In essence, anytime you explore the investment field you’re maintaining your investments and building it too. Frederick often expresses how undemanding investment banking is because he simply gives away money in order to gain more fortune. While some risks exist along the borders of investment banking, if you understand and know how to maneuver your way through the process as Frederick does, more often than not you’ll be in opposition to those odds. As for Direct Sales; selling Alkaline water filtration systems is also a matter in which Frederick partakes in -- with each sale amounting to roughly $4,500 with Frederick earning 33% of the profit.
While Internet Marketing is the most prominent resource among businesses due to its primary quality of getting the job done, it may be a bit costly. However, if it becomes effective it’s well worth the costs. Internet marketing is pretty straightforward -- all that’s required is hiring an agency and soon witnessing your business expand and increase its numbers. This is why Frederick also considered this to be one of his niches; the exposure of your ideas and brand being highlighted for larger groups of people and having the capacity to showcase not only what you do, but who you are, is logical for any entrepreneur eager to generate more profits, more leads, and more prospects.
Frederick also built an exotic car rental business. Simply, the business is devised so that customers don’t have to spend large amounts of money on a vehicle they will hardly drive. The solution to this problem is merely to rent -- not buy. Frederick expresses that on average, one of his exotic cars will be rented for $300-$1,500 per day, which is an ideal convenience for customers to save.
Frederick also recommends that rising entrepreneurs sell online to improve their business as a result of the platform in eCommerce being rich and filled with opportunity. To assist, ascending an exemplary eCommerce store is effortless when you have good advertising.
In addition, when it involves jewelry, Frederick simply “Flips” the used or aged jewelry he no longer wears to make a profit and not a loss. Frederick also evaluated how to earn income through Instagram by hiring an agency that runs the course of your social media account and expands it. Frederick has even shed some light on the matter of how he has seen countless accounts that lose money as a result of having fake followers which urged him to go about the process in an accurate way. Today, Frederick has more than 400k followers that are regularly rising everyday along with his engagement.
Being an entrepreneur has its complications and downsides, especially if you manage several forms of revenue. However, by taking the initiative and accomplishing what is necessary for your success by all means then maybe your work and efforts will be cut out for you after all. Maybe the most important questions you should consider when engaging in this line of work is what do you identify with, what do you know, and how do you want to excel in what you know? In Chris Frederick’s instance, being innovative and thinking more outside of the conventional norms of choosing just one niche -- break the rules and maybe you can find yourself obtaining that 7 figure mark.