7-figure Letter Issue #18 – My beliefs on the future of Online Business…

This is a new weekly newsletter that will be focused on going “deep” on a specific framework, method or strategy for scaling past 7+ figures in your online business.

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In about a month from now, I’m going to be hosting a deep dive workshop on where I believe online business is heading. 

I’ve been running an online business since I was a kid. 

All of my success has occurred with businesses that operate or at least utilize the internet. 

Today, I own over 50 businesses through my portfolio at The Wisdom Group and thus, the future of online is extremely important to me. 

I want to share some of what I believe will occur in the coming years. 

Keep an eye out for this workshop in the next few weeks, it may be one of the most important you’ve seen all year– and there is no fluff, simply what I’m betting tens of millions of dollars on with my portfolio. 

Here are my 5 core beliefs that I’m building my entire portfolio, which by 2027 will include 100’s of businesses and with any luck help hundreds of millions of people. 

#1. The business of “online” will exponentially grow… 

I don’t think you need to be a genius to realize that this is going to happen. 

eCommerce is going to come online more and more. 

Jobs aren’t going to be needed due to the consolidation of technology, companies, and artificial intelligence. 

Thus, what is normally done 9-5, won’t be. 

On top of this, changes in the hierarchy of needs will make it so that people value soft-skills and personal development more than ever. 

If you’ve been online for a while, you know it’s grown a LOT.

And… it’s only started. 

#2. Businesses will consolidate 

In business, there are times when you bulk and times when you lean. 

Growth and contraction are normal. 

The same goes with the economy. 

There are times when businesses that shouldn’t exist can thrive. 

And there are times when those businesses can’t. 

Business is a game of adding value and sometimes businesses fail at being able to add value, or being able to convince others they can.

These times intensify if there is less money being spent. 

These times are occurring right now, which means that many businesses that don’t have a solid set of pillar, will no longer exist. 

This makes it best for those Entrepreneurs who are dedicated to excellence and creation and worst for those who are just out to try to ride the latest trend.

Today’s newsletter is sponsored by:

Me 🙂 

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30 Days for $10,000
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My help has been proven to be one of the best investments for Entrepreneur after Entrepreneur. 

Would love to work with you.

#3. Attention will become more difficult to obtain 

Attention is always cheaper yesterday, than it is today. 

The cost of attention will continue to increase, for 3 core reasons:

1.  The number of people advertising will continue to increase ($600BN will be spent in 2023)

2.  The attention span of your potential customer has gone way down and continues to go down as algorithms have turned the human mind into literal mush. 

3.  The trust of someone finding your brand is at an all-time low. 

This means that… buying attention… keeping the attention and turning someone into a customer will become more and more difficult. 

I mean… let’s be honest. 

In 2016, you could run a webinar, to almost anyone and turn 6%~ of them into customers. 

That doesn’t work today. 

As we continue into the future, trust will be more difficult to gain and attention will be more difficult to obtain. 

#4. Intimacy will reign supreme 

I’ve been preaching about intimacy for years. 

In my book, The Nuclear Effect, I talk about my R.O.I Method…

“I” stands for “intimacy.”

Further, intimacy is broken down into community, connection, and conversation. 

And…

If there was a single thing I would bet on… in a time when a lot of what won’t work that has worked…

It’s being able to be face-to-face with people, and help them solve their problems. 

#5. These 5 “niches” will dominate 

18 months ago I released this video on the future of Online Business, I haven’t changed my mind. 

So, what do you do with all of this…

How do you prepare yourself for the “future” of Online Business? 

In my upcoming workshop (details coming soon), I’ll be sharing EXACTLY what I’m advising my companies and those I mentor…

However, are there a few major steps I would take? Yep. 

#1. Build the best business you can and spend as much time as possible doing this. 

#2. Build an audience and spend money building a personal brand that people can trust. 

#3. Ensure you have offers that are based on an intimacy-first approach. 

#4. If you have success, spend time trying to figure out how to build on that success and not rest on your laurels. 

#5. Ensure that your business model aligns to where you believe the future of the world and economy is. 

#6. Ensure you’re recession proof by ensuring that your product is “sticky” and that your customers truly need what you sell. 

For now…

That’s all 🙂 

– Scott 

Here’s a few things I thought you might love…

1. If you’re not signed up for Online Business Owner Digest, I highly recc. that you do. 

2. If you’re more of the “marketing” type and want to dive deep into the latest marketing “stuff”, you might like The Growth Memo. 

3. Did you get my book, The Nuclear Effect? 70k people have bought it already, and if you didn’t get it yet, you could get for free this week. Make sure to enter the coupon code “freebook” on purchase page.

That’s it for this 7-figure letter. I publish new one every Sunday. Make sure to signup here to get yours.