The Biggest Opportunity For Entrepreneurs To Build Recurring Income In 2017
Question: If you could go back in time to see the future trends of the internet, before they happened… would you do it?
What do you think would happen if you knew exactly what the next ‘big thing’ online would be BEFORE it happened?
(Maybe you’re kicking yourself for seeing a few trends coming, but not jumping in when you knew you should have…)
Well, what if the next online trend is starting right now? And what if I were able to prove to you what it is?
If that’s true, you could end up building an empire, like Biff in Back To the Future.
He built his whole empire simply because he knew what to bet big on…
Whether it’s true or not is for you to decide.
In this post, I’m going to show you one big future trend and reveal the biggest opportunity online that’s coming (based on facts, not opinions) so you know what to bet on in business.
I’ll show you how leaders you already know shifted to this trend… and the three forces contributing to WHY this trend is going to explode this year.
And I’ll show you how you can take advantage of it NOW, before anyone else does, based on a proven process others have already been using.
So with that…
Proof Of Trends We’ve Spotted Before They’ve Happened
This article is based on facts. And based on the fact that I’ve done this before…
In 2012, we saw the trend of “online courses” coming. And we launched The Foundation.
Here’s a screenshot of our Stripe account in 2013. A little over $3,000,000.
In 2014, we saw the trend of podcasting coming. So we launched “Starting From Nothing.”
We quickly became the #1 business podcast in iTunes and since then, we’ve achieved around 3,000,000 downloads from listeners. (Plus opportunities to meet and interview amazing entrepreneurs.)
In 2016, we caught the tail end of the “Online Summit” trend and hosted The Bootstrapped Software Summit, which was responsible for generating thousands of leads for us.
See some of the speakers below.
We’ve got a track record of seeing trends that are working.
Here’s the “method to the madness” for trendspotting...
The Trends You’ve Missed And What’s Coming Next According To Innovators And Top Entrepreneurs
Every few years, a new trend takes the internet by storm.
Each new trend spurs a new wave of millionaires and entrepreneurs.
(And each wave left a group of followers unhappy and unsatisfied because they missed it.)
Look at the trends you’ve probably already missed...
Blogging SEO Social Media Marketing Podcasting Amazon Stores Snapchat / Pinterest Facebook Ads
I’ve watched friends go from nothing to building multi-million dollar companies because they hit the right trend at the right time.
(And I’ve watch a LOT more people miss out, over and over, because they aren’t bold enough to make a decision.)
Most people think catching a trend is ‘lucky.’
For some, it is.
But for the best entrepreneurs, it’s a calculated decision based on facts and research. Not luck.
So the question is… what is coming next? And how do you get there first?
“When you decide what the future will be, you want to get there as quickly as possible.” - Tim Cook, Apple
The Two Ways To Spot Upcoming Trends Before They Actually Happen
There are two ways to spot upcoming trends
1) Look at what the top 1% of innovators in a field are doing… (they usually lead the way.)
2) Look at what changes are happening in technology, education and the economy.
When you look at the three of these, you’ll see common patterns that point to the hidden opportunities in the trends.
First, Look At The Innovators
Who are entrepreneurs you look up to? Admire? Respect? What are they doing right now?
Let’s go with the obvious one since everyone loves him… Tim Ferriss.
What does the author of The Four Hour Work Week actually do with the money he makes?
He invests it, of course.
And what does he invest it into? Uber. Twitter. Evernote. Shopify. Facebook. Alibaba. And more.
Do you notice the ONE common trait all his investments share?
If not, keep reading to see if you can spot the trend...
5 years ago, Clay Collins was selling information products. Then he pivoted and launched Leadpages.
Leadpages has grown into a $20M+ business. And he didn’t raise any money to get it started. He was profitable from the beginning.
Clay pivoted from information to Leadpages.
Ryan Levesque is best known for his “Ask Method” process. Using it, he built a handful of businesses and was a highly paid marketing consultant.
Last year he launched Bucket.IO, a software company that follows his method of marketing. All self funded.
Ryan pivoted from consulting to Bucket.IO.
Nathan Barry is well known for his design skills. He literally wrote “The App Design Handbook.”
A few years ago, he shifted from design work to writing and then from writing to building ConvertKit.
ConvertKit is at $500,000+ per month in recurring revenue as of Jan 2017.
He leveraged his design skills to build ConvertKit. Again - all self funded.
Lastly, Paras Chopra was a developer in India, but was tired of spending his whole life working for someone else. He built Visual Website Optimizer on the side of his ‘day job.’
Now his business is doing over $1,000,000/month. All self funded.
Paras pivoted from being a developer to building VWO.
The list goes on and on…
Have you spotted the trend yet?
When you look at the data, it’s obvious the leaders in our field have already made the switch from selling information / consulting / design / development to building software companies.
Software is the biggest opportunity coming online this year.
But here’s a problem you might be wondering:
Isn’t software expensive? Isn’t it difficult? Don’t you have to be super skilled to get into it? Don’t you have to raise money? Do you have to have a background in tech?
There are two answers to your questions...
10 years ago - the answer was yes.
Today - the answer is no.
The Three Trends Making It Possible For “Average People” To Build Software Businesses This Year
Trend #1 - The Decreasing Cost Of Technology
If you wanted to start a software business 10 years ago, it would cost literally tens of thousands of dollars to get off the ground.
Why? Because everything had to be custom built from scratch.
But today the backend infrastructure for software has already been built for you. Billing systems. Customer management. User feedback. Live chat. And more.
These packages exist so you can literally ‘plug into them’ and start in a matter of days or weeks instead of months and years.
Clay from Leadpages built the first version of his product in a matter of weeks with one developer. Now it’s a $20M company.
He didn’t need VC or deep pockets. He was good at marketing. And he understood a problem. That’s it.
Lesson #1: The decrease in cost of technology makes it easier for anyone to get started fast in software.
Trend #2 - The Increasing Access To Quality Education
10 years ago, there was very little information published about software businesses. Most of them were VC backed startups or massive enterprise solutions.
But today, everything has changed.
The last decade there’s been a push to remove the risk of starting businesses by getting better knowledge.
You can see these trends in the rise of LeanStartup, Saastr, Startup Weekend, The Foundation, and many more.
These companies help entrepreneurs reduce the risk of starting businesses by working smarter and testing ideas before wasting time or money building them.
What was once a risky experience can now be reduced to testing your ideas in a matter of days or weeks and knowing if they’ll work or not.
Ryan Levesque pre-sold his software company to reduce the risk.
Meaning, he sold the product to his customers before it was fully ready to validate people wanted it and to get to profitability as quickly as possible.
His launch made him a little over $500K in recurring revenue.
That approach would have been unheard of 10 years ago. Now it’s common.
Lesson #2: The increased access to quality education has reduced the risk of getting started in software.
Trend #3 - The Increased Demand Due To The Emergence of “The Freelance Economy”
Have you noticed how everyone today is becoming a freelancer?
The world is becoming saturated with freelancers and consultants. Everyone is working on their ‘side gig’ and few people are fully employed anymore.
The problem is, being a ‘freelancer’ is quickly becoming the new ‘employed’ model.
The freedom to work when and where you want has been replaced with multiple deadlines, overwhelm from juggling too many projects and stress from riding the ‘feast or famine’ cycle of business.
Because so many people are getting into freelancing, the market is becoming more and more saturated.
This creates an opportunity for the smartest freelancers to pivot their business to a recurring revenue model instead of following the trend of everyone else.
Paras Chopra was making $4,000/month as a developer in India. All he wanted was to replace his income by building a product worth $40/month and selling it to 100 people.
That was the birth of Visual Website Optimizer.
Fast forward 5 years later and VWO is now doing $1,000,000 per month in revenue.
Lesson #3: The increase desire to become a freelancer creates more opportunities for more tools to be built.
What Happens When You Merge All Three Of These Trends Together?
So what do you think happens when:
- Technology reduces the cost of starting
- Education reduces the risk of starting
- The demand for better tools increases
Add those three things together and what do you get?
The writing is already on the wall.
The top innovators have already made the shift. And we’re seeing three trends in technology, education and the economy that all point towards the SaaS space growing.
More and more entrepreneurs are getting into the SaaS space.
So you have a choice… you can either be first and get the fortune that comes from being bold.
Or you can wait and watch another trend pass by, and you’ll be kicking yourself in a few years thinking, “I wish I would have trusted my gut and dove in before everyone else did.”
Why I’m Telling You About This Trend Now
For the past five years, we’ve been helping people start software businesses from scratch inside The Foundation.
We have a track record of success. You might know some of our students.
Sam. Cat & Allen. Jeremy. John Logar. Chandler.
You don’t have to be like the ‘famous’ entrepreneurs listed above to get into software.
You could be like Jeremy, who built Quickmail to $50K/month in revenue.
Or Carl who built his first software company to $4k/month in six months.
Or Jenny, who got $12,000 in pre-sales to build Namastream.
All of those students were successful without raising money.
If you want to build a recurring revenue stream that generates income for you and your family for life, there’s never been a better time to get started in software.