5 Asset Ideas to Build Wealth
Updated: Nov 29, 2022
Increasingly, the traditional "safe secure job with a pension", no longer exists. We see more often now the rise of digital nomads, freelance gig remote workers and entrepreneur side hustles that provide flexible multiple income streams. Today lucrative careers include;
- social media influencers
- video content creators
- clean energy engineers
- information security analysts
- data analytics managers
- intelligent machine AI programmers
- medical healthcare managers
- nurse practitioners
- gig worker - entrepreneurs
While small to large businesses may now cost effectively connect directly with loyal customers to drive greater revenue with targeted digital advertising. Even large corporations with legacy brands rely on digital advertising such as Coca Cola, Disney, Amazon, Wal-Mart, Microsoft, Google, GrubHub, Airbnb, NIKE, Apple and others.
Overwhelmingly, about 74% of marketing budgets are now spent on digital advertising channels. And 57% of all marketing is digital. Total digital advertising in 2021 was $436 billion versus offline advertising at $196 billion. While 80% of people buy products found on social networks including Google search, YouTube, LinkedIN, Twitter, TikTok and others.
Even small business entrepreneurs are now empowered with mobile apps and cloud social networks that provide the control to produce unique brand awareness, reaching millions of consumers at far lower costs than legacy business models. This opens up the ability for a small business to grow with little overhead or capital. Like never before, today is truly a great time for anyone with the passion, discipline and innovative business ideas to create wealth.
Generally, these 5 Asset Ideas Help Build Wealth including ...
1. Think like an entrepreneur. Build a business by collaborating with smart people to create a brand asset. Your business must solve a problem you are passionate about to succeed. Use automated tools to lower overhead costs and gain valuable data analytics to optimize assets.
2. Network with investors. Leverage other people's money to grow assets in exchange for business equity. We suggest not using much debt obligation, it's a dangerous risk. Keep in mind 8 out of 10 startup businesses fail within 3 years. So, don't get stuck in a debt trap.
3. Passive income such as residential rent property real estate, high dividend stock equity investments and side hustles leveraging a unique skill or passion may result in significant multiple income streams. Don't let fear prevent you from pursuing your business ideas.
4. Traditionally owning commodities such as precious metals like gold, copper, and silver have delivered results. While increasingly now art, sports cards, authenticated memorabilia and antiques are considered long-term assets of value for any portfolio.
5. Digital assets such as NFTs (non fungible tokens) with unique digital MINT registration, open up the potential for greater income in blockchain secure data holding asset value.
Research data shows nearly 65% of Gen Z (age 6 - 25 year old) expect to start their own business. Young entrepreneurs are focused on control, staying debt-free, a purposeful life, climate change and other issues in entrepreneurial ambitions.
In fact, Generation Z has already been dubbed a group of "super creatives and digital masterminds", and the most entrepreneurial and innovative generation yet. Because Generation Z grew up in an era of overall progress through empowerment, they are determined to make the world a better place. And they use tools daily to produce social change which drives Gen Z entrepreneurs to become influencers shaping consumer habits.
Further, a new economic paradigm is developing to reduce racial barriers with greater access to educational opportunities and criminal justice equality. Such profound changes are helping to lay the foundation for widespread prosperity among all U.S. cultures including Hispanic, Black, Asian, Native American and others reported SocialContentService.com
In fact, today women and Hispanic entrepreneurs are the fastest growing groups pursuing their passions to build asset wealth through innovative startup business opportunities.
Feel free connect to get started building your own business or just want to chat about an idea. Social Content Service provides business analysis, social media marketing, data analytics, website design, content writing and business development from start-up to IPO in a variety of market sectors. Our diverse team of highly skilled agents offer over 35 years of experience.