Good afternoon. It's Wednesday, April. 17 and we're covering starting a small business for less than $10,000, books that helped a 32-year-old mom learn about passive income, how to become a real estate agent, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: April 15, 2024. | NVIDIA Corporation (NASDAQ:NVDA) fell almost 4% to add pressure on the broader tech sector just as other big tech stocks including Netflix (NASDAQ:NFLX), Apple (NASDAQ:AAPL), Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT) were also under pressure.
JB Hunt Transport Services (NASDAQ:JBHT) stock fell 8% after the trucking firm missed estimates for first-quarter results, hurt by a decline in revenue in its biggest segment and pricing pressures at its brokerage business.
Abbott Laboratories (NYSE:ABT) fell 3% despite the medical devices maker beat Wall Street estimates for quarterly profit and raised the lower end of its full-year forecast on strong sales of its products. ASML (NASDAQ:ASML), meanwhile, weighed on chip stocks after falling over 7% following quarterly results that showed weaker than expected first-quarter new bookings.
Federal Reserve Chairman Jerome Powell on Tuesday "was clear, the Fed intends to stay on the sidelines for longer than previously expected, given the unexpected increase in recent inflation data," Stifel said in a Wednesday note. |
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| | Financial Maverick Insights | | | | | Small Business Ideas: Start One for Less than $10,000 | Many Americans have turned to creating their own businesses, putting an emphasis on setting their own schedules and leaving more time for family and leisure. If you're thinking about making a major change and starting your own business, tap into one of these ideas for turning your work experience or hobby into a profitable venture.
Consultant:
Companies or individuals could be willing to pay a lot of money for the expertise you've gained throughout your career. Consultants work in a variety of specialties, including financial, human resources, career and management. And the startup costs are minimal if you're not incorporating.
Home Stager:
Homes for sale that are "staged" give prospective buyers an idea of what a home can be. After homeowners have packed up their belongings and have reduced the home to bare bones, stagers reposition furniture and accessorize to maximize use of the space. Experienced home stagers invest in furniture and accessories to use in homes, but you can start with a smaller inventory of small furnishings and accessories and make use of the sellers' existing stuff, as long as it is in good shape.
Pet Services:
According to a survey from the American Pet Products Association, 66% of U.S. households own a pet as of 2023. That has opened the door to a variety of pet-related services, including dog walking and pet sitting. A business that provides pet sitting, walking and related services is inexpensive to start.
Digital Art and Design:
If you've got artistic talent, you can use it to create innovative designs and upload them to your preferred print-on-demand platforms. When a customer purchases one of your items, the platform prints it to order and ships it out on your behalf. Popular platforms include Redbubble, Fine Art America, Zazzle, Society6 and Printful, all of which offer a huge variety of products to customize with your designs. |
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| | | | | | 32-year-old mom who makes $143,000/month in passive income: Books that helped me get started | In 2022, I quit my six-figure recruiting job at Amazon to grow my YouTube channel and launch my business, PayBump. I make videos about remote work and unique income streams, and create kits to help people make their resumes and cover letters shine. Today, my business brings in $143,000 a month in passive income, mostly from digital product sales and YouTube ad revenue. And I only work two hours a day. Here are books that helped me get started:
'The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage' By Daymond John:
This is a practical playbook for aspiring entrepreneurs who want to build a business from the ground up. It draws on the "Shark Tank" investor's experiences, as well as insights from other self-made millionaires. I learned how to bootstrap my online business, connect with likeminded people, develop partnerships, and use free marketing strategies to drive sales and make a profit.
'Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not' By Robert Kiyosaki:
Kiyosaki writes about the habits of two men, and how one ultimately obtained wealth, while the other struggled, in large part because of the differences in their money mindsets. "Rich Dad, Poor Dad" showed me the value of the "on-the-job" skills I already possessed, and how I could use them as the blueprint for my business. It gave me the confidence to harness my experience in fintech, project management, and recruiting to get PayBump off the ground.
'The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses' By Eric Ries:
Inspired by Ries' years as an entrepreneur in Silicon Valley, "The Lean Startup" taught me how to identify what my customers really want, and test out new ideas at a low cost. One concept he writes about is the "minimum viable product," essentially the most basic and least expensive version of what you want to offer.
'The YouTube Formula: How Anyone Can Unlock the Algorithm to Drive Views, Build an Audience, and Grow Revenue' By Derral Eves:
Eves is a TV producer, content creator, and the founder of the VidSummit conference. His book was a great crash course for me when I started my channel. I learned how to structure my videos, create eye-catching thumbnails, use analytics to improve the performance of my content, and make connections with brands. All of that helped me turn audience members into repeat customers and create a thriving online community. |
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| Real Estate News |  | California sees surge in homeowners trying to sell their houses | Listings are up in the state amid price increases, according to the California Association of Realtors. |
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|  | How to become a real estate agent | For aspiring real estate agents, you'll need to attend class, pass an exam, activate your license, and join a brokerage. |
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|  | How Creativity in Real Estate Is the Secret to Success for David Orlick | David Orlick's focus on joy and individualized experiences makes him a unique and refreshing choice in the world of New Hampshire real estate. |
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| | Personal Finance Tips |  | 'My Friend Is in Financial Trouble. How Should I Help Her?' | Just because your friend needs money doesn't mean she wants it from you. |
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|  | 6 Ways To Use ChatGPT To Build Wealth and Save Money | ChatGPT has taken the world by storm since its release in November 2022. The chatbot can do almost anything. It can code, write jokes and even write a love story in the style of a 1940s mobster. Real... |
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|  | Five Financial To-Dos to Help You Stay on Track in 2024 | These financial planning steps can help ensure your financial wellness for the rest of the year, so take some time to look at your goals, debt, taxes and more. |
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| | Alternative Investing |  | Big Tech Says Spy Bill Turns Its Workers Into Informants | One of Silicon Valley's most influential lobbying arms joins privacy reformers in a fight against the Biden administration–backed expansion of a major US surveillance program. |
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|  | Get Bitcoin or die tryin': Why hip hop stars love crypto | Hip hop artists can make more money from an NFT than a year of Spotify streams. But there are plenty of other reasons rappers love crypto. |
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|  | Actually, Corporate Investment in AI Saw a Significant Drop in 2023 | While last year was considered the peak of AI hype, a study of industry investment patterns tells a slightly different story. |
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| | Were you surprised to see a significant drop in corporate AI investment in 2023? | | | Reach Over 100,000 Financial Mavericks | Advertise with Financial Maverick to get your brand in front of the Financial Gurus in the world. The Mavericks are high-income and highly knowledge people who are always looking for an interesting product or tool. | | | Share Financial Maverick | Calling all Financial Mavericks! To help out a family and friend in need by sharing this newsletter. Tell you what if you ever wanted to be a Hero, Financial Guru, or a Nice Person this is your time! | | | DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. | |
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