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The 9 Industries Most Likely To Make You A Millionaire - YouTube
Channel: Dan Lok
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- When I was a little kid,
when I was about 10 years old,
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my dad and I, we would go fishing.
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And my dad would always
get on this little boat
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and we would kind of take the boat
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to about 30 minutes away from
the city, this was in Hong Kong
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and we would fish in that area.
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And as a little kid, I'll ask my Dad,
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"Dad, why do I have to get on
a boat and go to this area?
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"Why couldn't we just fish where we are?
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"Why would you have to make this trip?"
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And my dad would say to me,
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"Well, son, that's where the fish is."
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And I always remember the lesson,
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just like the reporter
asked a famous bank robber,
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like why did you rob in the bank?
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'Cause that's where the money is.
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Right, is the same idea.
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As an entrepreneur,
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choosing the right industry
is very, very critical.
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And there are many industries
that we could get into, right?
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And sometimes I think we are
overconfident as an entrepreneur,
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and we say we could go into any industry,
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sell any product, offer any
service and provide solution
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and we could be very
successful in doing that.
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I think that's simply not true.
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So today I'm gonna share
with you nine industries
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that are most likely to
make you a millionaire.
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And if that's your goal,
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there are many industries
that you can get into.
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Now, I'm not talking about, like, gimmicks
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and tricks like cryptocurrency
or winning the lottery,
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I'm talking about the
legitimate, proven industries,
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that have created
millionaires and billionaires.
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Industry number one that is most likely
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that will make you a millionaire
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and that is financial services.
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Now, when I say financial services,
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I'm talking about the management of money,
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money lending or management of assets.
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We're talking about the loan associations,
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banks, financial companies,
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insurance companies, brokerage.
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A lot of those firms
are very, very wealthy
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because there's a lot of money in money.
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One of the things I learned
from one of my mentors,
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he said to me, "Dan, don't ever forget,
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"the money is in the money."
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There's a lot of money to
be made just by managing,
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handling, investing money.
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Michael Bloomberg,
former mayor of New York,
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became a billionaire by
providing financial data
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to the financial industry.
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Industry number two, technology.
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Now, you know the Google,
the Facebook, the Apple,
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but we're talking beyond that.
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Think about traditional
industries that you could go into,
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maybe by using technology,
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what you could do to
disrupt that industry.
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And you can see that a lot.
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Now we call that disruptors, right?
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How you could use technology
to make things more efficient?
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We're talking about robotics,
we're talking about AI,
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we're talking about automation,
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we're talking about manufacture
of these technology products
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or even providing technology as service.
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Billions and billions and
billions dollars worth of value
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are gonna be created in
this particular sector.
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So, are you a technology entrepreneur?
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Industry number three, health care.
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My mentor Dan Pena, the $50 billion man,
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talks about this a lot, health care,
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because people are willing
to spend a lot of money
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to live longer.
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So health care, I'm referring to,
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could be assisted living, senior homes,
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pharmaceutical, any products or services
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that'll help people to live
longer life and stay healthier,
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that's very, very good
industry to get into.
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Industry number four, real
estate and construction.
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United Nations forecast predicts,
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by 2025, the world's
population will increase
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to almost eight billion
people, eight billion people,
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by 2050, it would be
almost 10 billion people.
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That's 10 million people on
this little planet by 2050.
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Now, what does that mean?
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Where's the opportunity?
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We all need a place to sleep in,
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to play in, to entertain,
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to go to, to shop.
Real estate and construction.
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Industry number five, education.
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With all the changes,
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all the technological
changes that are happening,
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knowledge becomes very, very critical.
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People want to learn,
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they want to equip
themselves with skill sets,
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and that's the space that
I am in, the education
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and software space,
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because I can see the
opportunity happening right now
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in front of us to connect individuals,
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people, professionals,
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to 21st century skills
and job opportunities.
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Now, within education,
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you could also have products
and services and software
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that helps people in many different ways.
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So we have traditional education,
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but we also have alternative education,
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education outside of the
school systems, right?
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And it doesn't always have to be academic,
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it could be other types of education
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that can help people
to lead a better life.
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Education, huge business.
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Industry number six,
entertainment and recreation.
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Beyond than just education,
people want to be entertained.
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In fact people demand entertainment.
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You look at all these big companies
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are getting into the
entertainment industry.
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Now, what am I talking about?
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Movies, animations,
productions, special effects.
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There's so many companies
going into that industry.
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Amazon Prime, of course, you have Netflix,
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Hulu, Disney Plus, I
could go on and on and on.
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Why?
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Because this is where we are going.
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Now on the other hand,
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thinking about industries who help
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and facilitate this particular industry,
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but also we talking about influencers,
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YouTubers, Instagrammers, right?
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Now for the first time,
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you have people in that industry.
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Standup comedians could
make millions doing that,
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before you couldn't, most
of time they struggle,
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but now we are in this age
of people want entertainment.
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So, if you can find a
way to create a product
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or service or company around this
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to service this particular industry
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or to service this demand,
you could also make millions.
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Industry number seven, transportation.
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Now, human beings we like to travel.
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As now with the internet,
the more we see the more...
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We don't want always
wanna be stuck in a house,
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we wanna go out there and see things.
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So air transportation,
aerospace, huge opportunities.
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But also think about
now people buying online
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and shopping online.
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Where do you think the
opportunity could be?
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Handling shipping packages.
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I'm not just talking
about FedEx or UPS or DHL.
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Think of something like Uber Eats.
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People like stuff being delivered to them,
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as now people are shopping
more and more online.
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This is a huge industry.
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Just by being able to
provide service or product.
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It could be as simple
as providing software
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to help these companies
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to manage the inventory better, right?
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Or the shipping handling better.
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That could be easily a
multimillion dollar business.
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Industry number eight, energy,
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especially renewable energy.
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So, going beyond than just oil and gas,
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now we're talking about
solar or wind, right?
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So, with billions and billions of people,
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we all need power, we need more power
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to power up our devices
and our technology.
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So that's huge industry.
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If you could come up
with creative solutions
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that could solve this problem,
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not just millions,
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it could be billions of dollars.
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But you need to have certain team,
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you need to have an understanding
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of how this whole thing works,
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and you need to be able
to work with government
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to how to execute this properly,
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but there's definitely a lot
of money to be made in energy.
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Industry number nine, food.
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Now, with billions of people,
not only we need power, right?
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We need a place to live in
and we also need to eat.
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So in the food industry,
that's not gonna go away.
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With so many people on the planet,
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we need more cost effective,
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more efficient way to
produce, create food, right?
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To produce food to feed so many people.
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So, what do we need to do?
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Again, maybe you can
come up with solutions
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that could go into these
certain industries.
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And I'm not just talking about fast food,
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because with so many options,
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people want healthier choices as well.
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And to me supplements,
health type products,
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are all those products
fall into this category.
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If people are eating it and taking it
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to want to have a healthier life,
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yes, that falls into this as well.
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So, those are the nine
industries that I believe
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that are most likely to
make you a millionaire.
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But you need to also combine
that with your skills,
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your background and your know-how.
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Getting into the right
industry is one thing,
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but you also need to be the right person
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in the right industry
in order to make it big.
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Does that make sense?
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