Rich Habits Podcast
by Austin Hankwitz and Robert Croak
Latest Business Ideas
Personalized School and Office Furniture Marketplace
The podcast discusses a potential business opportunity in creating a marketplace for personalized school and office furniture, specifically targeting items like planners, calendars, and stickers. The idea originated from a listener's inquiry about leveraging their girlfriend's drawing skills. Entrepreneurs can utilize Alibaba to connect with manufacturers directly, enabling them to create and sell unique, themed furniture products. This marketplace could cater to teachers and students seeking custom items for their classrooms or study spaces. To implement this, founders should first secure a manufacturer's agreement to protect their designs and ideas, then carefully select factories on Alibaba based on their ratings and reviews. This business can solve the problem of finding unique, personalized office and school supplies that stand out in a saturated market.
From: Q&A: Starting From Scratch, Patents, and WTF is TSLY
Covered Call Focused Investment Webinar
The podcast hosts plan to create a webinar focused on covered call strategies, which could serve as an educational platform for individuals interested in generating passive income through investments. This business idea involves hosting live, interactive sessions where participants can learn about covered call ETFs and how to execute covered calls in their investment portfolios. Entrepreneurs can capitalize on this by creating a subscription-based model for access to these webinars, potentially pairing it with additional resources like guides or community forums for ongoing support. This addresses the need for accessible financial education, particularly among active individuals like military personnel who may lack the time for traditional side hustles. The initial setup can be low-cost, utilizing existing platforms for webinars and marketing.
From: Q&A: Starting From Scratch, Patents, and WTF is TSLY
High-Yield Savings Account Platform
The episode suggests moving funds from an indexed universal life insurance policy to a high-yield savings account to maximize returns without the risks associated with market fluctuations. This idea can be developed into a banking platform that offers high-yield savings accounts specifically aimed at individuals looking for safer investment options to grow their savings. The platform could focus on providing competitive interest rates and easy access to funds, making it attractive for conservative investors. Entrepreneurs could also consider integrating financial education resources to help users understand the benefits of such accounts versus traditional investments. This addresses the need for safer investment alternatives while still providing reasonable returns for users who are risk-averse.
From: Q&A: High-Paying Job vs. PSLF, Aging Parents, & House-Hacking Too Soon?
Investing Platform for Short-Term Rentals
The podcast discusses the potential of investing in a short-term rental Airbnb fund to generate income while also providing tax benefits. This idea revolves around creating an investment platform that allows investors to pool money into short-term rental properties, which can provide passive income through rental yields. The platform could offer insights and management services, ensuring that investors receive regular updates on their investments, along with the ability to withdraw funds or reinvest profits. This would serve both individual investors looking for passive income and those wanting to credit their taxes through passive losses. Entrepreneurs could implement this by partnering with real estate management firms to manage the properties and handle logistics, while the platform itself could leverage technology to streamline communication and reporting for investors.
From: Q&A: High-Paying Job vs. PSLF, Aging Parents, & House-Hacking Too Soon?
AI-Driven Digital Product Creation
This business concept revolves around utilizing artificial intelligence to create and sell digital products, such as online courses or niche-specific content. Entrepreneurs can identify trending topics using tools like Google Trends and develop products that meet those demands. The example shared involves a young entrepreneur who successfully leveraged AI to create fitness courses, demonstrating the potential profitability of this approach. The target audience includes tech-savvy individuals looking to monetize their knowledge or skills in various niches. Platforms like Pinterest for marketing and AI tools for product development can significantly streamline this process, making it accessible for solo founders.
From: 35: Building Generational Wealth in Your 20s & 30s
Invest in Cryptocurrency Assets
This idea encourages young entrepreneurs to allocate a portion of their investment capital into cryptocurrencies, particularly focusing on established assets like Bitcoin and Ethereum. The discussion highlights the importance of dollar-cost averaging to mitigate volatility while building a cryptocurrency portfolio. Entrepreneurs can leverage this trend by creating educational content around cryptocurrency investments, offering consulting services, or developing tools that assist investors in tracking and managing their crypto assets. Target audiences include both seasoned investors looking for diversification and newcomers interested in entering the crypto space. Resources like cryptocurrency exchanges and portfolio management apps can facilitate this investment journey.
From: 35: Building Generational Wealth in Your 20s & 30s
Buy and Scale Boring Small Businesses
This business idea focuses on acquiring small businesses that are currently undervalued or lack succession plans, particularly those owned by retiring baby boomers. Entrepreneurs can identify these businesses and leverage modern technology to enhance their operations, such as implementing effective marketing strategies, automation, and SEO practices to boost profitability. By improving the efficiency and revenue of these businesses, entrepreneurs can significantly increase their value and potentially profit from selling the business at a higher multiple. The target audience includes young entrepreneurs eager to enter the market with lower investment costs compared to starting a new business from scratch. Tools like marketing automation software, CRM systems, and SEO tools can aid in the scaling process.
From: 35: Building Generational Wealth in Your 20s & 30s
High Beta Stocks Education Platform
This idea involves the creation of an educational platform that focuses specifically on teaching investors about high beta stocks, their risks, and potential rewards. The platform could offer courses, webinars, and resources that detail how to analyze high beta stocks and the implications of price volatility. The implementation would include partnerships with financial analysts for content creation and possibly include a community forum for discussion. The target audience would be retail investors, particularly those looking to diversify their portfolios with high-risk, high-reward assets. Specific tactics could include tools to simulate portfolio scenarios with high beta stocks to help users understand potential outcomes and proper risk assessments.
From: 130: How To Overcome Your Emotions During Volatility
Investment Progress Tracking App
The idea is to create an app or web platform that allows users to track their investment progress in a detailed and user-friendly manner. This platform would enable users to log their monthly investments and visualize their growth over time, helping them to maintain focus on their long-term financial objectives rather than being sidetracked by market volatility. Implementation could focus on UX design, integrating personal finance API for real-time portfolio tracking and performance metrics. The target audience includes individual investors who want to overcome emotional responses during market fluctuations. Specific strategies could involve gamification elements that reward consistent investing behaviors, integrating budgeting tools to help users invest more consistently while avoiding emotional decision-making.
From: 130: How To Overcome Your Emotions During Volatility
Fundamental Investment Analysis Tool
The business concept is to create a tool or software that aids in conducting thorough fundamental analysis of stocks, focusing on long-term performance indicators such as revenue growth, margins, and cash flows. The implementation could involve developing a web app that aggregates data from multiple sources, providing investors with interactive dashboards for analysis. The tool could also include historical analysis features to compare current performance metrics with past performance. The target audience is investors who are looking for a systematic approach to long-term investing amidst market volatility. Tactics may include offering tiered subscriptions that provide additional insights or premium content to users.
From: 130: How To Overcome Your Emotions During Volatility
Recent Episodes
Q&A: Starting From Scratch, Patents, and WTF is TSLY
Host: Austin Hankwitz and Robert Croak
2 ideas found
Q&A: High-Paying Job vs. PSLF, Aging Parents, & House-Hacking Too Soon?
Host: Austin Hankwitz and Robert Croak
35: Building Generational Wealth in Your 20s & 30s
Host: Austin Hankwitz and Robert Croak
130: How To Overcome Your Emotions During Volatility
Host: Austin Hankwitz & Robert Croak
Apple's $600B Investment, Crypto in Your 401(k), & Disney's Deal with the NFL
Host: Austin Hankwitz & Robert Croak
Q&A: $4M in SpaceX Stock, Buying an AirBnB with Family, & Losing $70K From Annuities
Host: Austin Hankwitz and Robert Croak
129: Exiting PayPal ($1.5B) and LinkedIn ($26.2B) w/ Reid Hoffman
Host: Robert Croak and Austin Hankwitz
Meta & Microsoft's $150B Shopping Spree, The Fed's Dot Plot, and Tunnels Under Nashville
Host: Austin Hankwitz and Robert Croak
Q&A: YieldMax ETFs, When To Invest For Your Children, & A Special Guest!
Host: Austin Hankwitz & Robert Croak
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