The 7 WORST Businesses To Start in 2023

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A portion of this video is sponsored by Cash App
0:00 - Start here
0:36 - 1st business
2:00 - 2nd business
3:34 - 3rd business
4:54 - Sponsor
6:15 - 4th business
7:50 - 5th business
9:18 - 6th business
10:49 - 7th business
I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.
Instagram ➤➤➤ / nateobrienn
Twitter: / nateobrienn

[@nicolasbenson009]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[@hersdera]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@hersdera]

My advisor is 'Margaret Johnson Arndt'. In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience

[@thewilliams-]

It’s such a blessing that my wife and I aren’t just married, but we’re also each other’s best strategic partner in business. I’m great at what she lacks, she’s great at what I lack and we have an adviser to work with. And thank you NATE, for the awesome content! I read a book that made me realized that the secret to making a million is making better investments.

[@ragabkamel_]

You have done great for yourselves. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.

[@thewilliams-]

Eric Thomas Witt has been a valuable resource for our investment journey. I first discovered his insights during a business conference I attended, and further research led me to his web-page, where I reached out for more information. You can also verify his credibility independently.

[@SilviaRave_]

What I think everyone need is a financial adviser, who can help you get in and out of any investment at any time and you'd sure be in profit!

[@ajgaming5654]

I 1000% agree on the loan one. Too many businesses who have failed to prove a concept stay afloat via banks

[@DonRaFFa]

Crazy I am currently in the works to start a clothing brand

[@kkona3868]

My advice is follow your passion. There’s nothing wrong with following a passion on the side of your main hustle.

[@beenjammin1750]

I was crazy once

[@colonelmann]

"Passions usually don't convert to cash"

[@DonRaFFa]

@@colonelmann is every successful clothing brand start off with the owner being a influencer? If you have a decent amount of money saved up and no how to market and the brand is authentic to yourself

[@NateOBrien]

It’s certainly possible to create a successful clothing business, but there are a lot of hurdles. I wish you the best of luck.

[@user-gm4hh6dl8j]

One in ten businesses fail, taking a loan for a business is dangerous. What beautiful commentary. Thanks as always!

[@UpayanM]

What about furniture?

[@pticumulus24]

Thank you very much for this video. 👍☺☺

[@luisluckert8365]

super interesting, thanks for the video!

[@lx.hys49]

Always a good day when Nate uploads

[@tskali9686]

Nate I was wating for your new video, make more, thank you!

[@betterlifestyle3463]

Thank you

[@ethancemer8679]

Love the content man! So glad I was able to connect with you in person ❤

[@finwest]

Aloha Nate. New subscriber and I’m slowly working my way thru your videos. I appreciate your interesting and useful tips and ideas. I really liked videos of you in the forest and mountains. I grew up in the high country of Colorado near Leadville (I think you mentioned that town once), so it reminds me of home. Such a contrast to Bangkok where I moved to this year!

[@LEOFADS]

Always a great day when nate uploads

[@MmM20978]

Could you do a video on good principles you'd look for in running a business? Thx!

[@rachelm2233m]

Finally some advice I can follow. You usually have lists of things that I’ll never do and then feel lazy about. 😂 but now I can be relieved I never invested in a restaurant or took out a business loan

[@CuteKitty231]

Great vid! Thanks Nate

[@cheekymonkeygirl3378]

I love your username. I'm a cat! 😈

[@izmirkuscusu506]

You are one of the most sophisticated and brilliant KZbinr/content creator I watch, and 1million percent the very best in finance. I appreciate all of your content thank you for *VRI TOKEN* much love from Chicago

[@raicho642]

This's off topic but Nate's videos have been utilized as English listening practice by several ppl here in Japan in that his English is so immaculate that it's well-organized as well as easy to understand.

[@NateOBrien]

Wow that’s great!

[@handzus19]

I've noticed the decline in franchises too (especially restaurants).

[@glenn06]

This is a great video 👏🏼

[@NateOBrien]

Thank you!!

[@allthingsjonda5760]

Great advice once again Nate!🩵🩵

[@NateOBrien]

Appreciate it!

[@cheekymonkeygirl3378]

@@NateOBrienNo, you don't! 😠

[@rdn4641]

I miss him so much. We need more knowledge sharing from Nate

[@jboushka]

I think Iman Gadzhi has talked about this with similar recommendations (from his paradise in Dubai, maybe). But in a chapter toward the end of his 2018 book "Skin in the Game", Nassim Nicholas Taleb advises "You must start a business". Imagine if everyone tried to do that, we would have a world of spam and nothing else!

[@iamassyl]

i think a lot of people run after “sexy” ideas but often overlook some great unglamorous opportunities leaving it to smart entrepreneurs

[@ErinChisman]

Whoa whoah whoa...there are pest control MLMs? This is new info to me. Crazy!

[@GamesBlows]

Hi! Your audio is low in the video. I don't know if its mic or something else.

[@alexm-e4910]

My friend and I are starting a garlic farm, it’s nearly impossible to bootstrap that

[@NateOBrien]

Garlic farm is awesome

[@alexm-e4910]

@@NateOBrien funding it is damn near impossible though 🤷‍♂️ I’ll swing back around and let you know how it’s going after first planting

[@goldbrick2563]

Document the process and maybe crowdfund

[@ChristopherBuysHouses]

I was thinking about getting into a vending machine you saved me a lot time

[@keydatingtips]

Where is the best place to avoid taxes or countries?

[@colonelmann]

Cemeteries

[@EM3Finance]

Oh ish, last wee I just started my trending clothing franchise 😮 Thankfully I can get a loan for my vending machine restaurant, I even get more for recruiting others 😅

[@NateOBrien]

perfect plan!

[@Courtney-Alice-Gargani]

This is great advice. Codie Sanchez had a video similar to this. Have you watched any of her videos?

[@jeneferrojas9771]

Would you consider a mortgage one of these business loans to avoid? I'm specifically referring to the short term rental property business model. I don't have 100% of the cash to purchase a home but I would love to invest in a property and obviously use the rental income to make the mortgage payments.

[@NateOBrien]

I think mortgages for rental properties can be okay. As long as you don’t spread yourself too thin. Need to have big safety nets

[@games4us132]

#8 a grain deal

[@markgrove2561]

Hey Nate thank you for what to avoid business wise. I have always worked a regular job and booked bands on the side. I dont make boatloads of cash but I make extra cash doing something I like and understand. I would like to interview you idf possible on business and how to make money in offline business. Not everyone is cut out for online business.

[@OLIVER-qy4ct]

But I started clothing store print on demand on tsping website

[@maxstyne]

What‘s the difference between affiliate marketing and multi-level marketing?

[@keazyado]

Typically, an MLM will have a product that you will sell & commissions will be split with whomever referred you. Affiliate marketing can be that too, if you choose to sell someones course for example, but broadly speaking you have the choice to promote anything you like..

[@NateOBrien]

MLM usually requires an upfront fee to join, which is where most of the money is made unfortunately..

[@maxstyne]

@@NateOBrien Thanks a lot, Nate!

[@maxstyne]

@@keazyado Thank you very much👊🏼

[@energynook]

Please be careful when "generalizing" (my term for this content for #7) I am a full time Network Marketer with Herbalife. Yes, there are some out there. Herbalife has proven track record and we don't make money by just signing people up. I have a big "retail" business and show others how to do the same. Yes, we make Royalties, but ONLY if and when we show others how to get people on the program and get great results. "Where products flow, Royalties grow". Not trying to start controversy, just putting the facts out there.

[@bin4ry_d3struct0r]

What would your advice be for people who want to start up a startup without a loan?

[@bigtaskat-hand4742]

He mentioned bootstrapping.

[@ardaecdar9009]

What a statement, damn. So it's said that *VRI TOKEN* is just about to launch and I think that will really change a lot of what was happening in the previous years, 2023 will shine yay

[@RafunzelReyes]

🐈‍⬛🖤 Sometimes I'm still confused if year 2021 and 2022 are real. Did we really talked and got connected? Or everything is just a delusion. The feelings I have for you are real. But idk about you. Sometimes I think that you never stopped loving or liking (whatever that feeling is) someone else. Hays😞 Idk if I'm safe, if my heart is safe. And if it happen to be that it's mutual why would you like me then? I don't even like myself. I have a lot of things about me that I'm still working on. I still have a lot to learn. I can't even take care of myself. Hayts. What are your real intentions?

[@Agriking]

I've decided I'm staying on the family farm in Ohio, now I just need to figure out what to do with it.

[@bjkailesi9149]

between the two, I think I would still support *VRI TOKEN* : technically speaking, years ahead of the competitors,Brand power, easy development, flexible with source languages, quick tx...

[@gunnarschaadt144]

My only input is that a restaurant will fail if it’s too similar to other businesses in the area, the population of adventurous diners is small, or the restaurant is different but not fitting to demographics. If your restaurant is different, has enough people to try it, and is cuisine in demand by a fair number of people, then you likely won’t fail because of over-saturation.

[@seththomas7851]

Subway just got acquired lol

[@NateOBrien]

yeah corporate made billions but howe did the franchisees fare?

[@sevimbarna6972]

My heart goes to the entire community for *VRI TOKEN* building up something even my grandpa can understand. This is so smart by them to launch it to shatter the doubts and fears of the common folk which is not even correct to begin with. Everyone knows the state of inflation and recession now and the way out is already in progress. Now it's just about catching the big fish

[@Quriat]

The way you explain mlm tho.. All agency structures, sales etc are mlm structure. Structure is great, some companies are shit/scam.

[@djhg84]

Correct me if I am wrong, but I think franchising and MLM are both one of the same.

[@djhg84]

@@Trickky456 No thanks.

[@joshuarivero007]

Greetings from Cancun Nate!

[@NateOBrien]

Greeting from New york

[@humphrey]

thanks Nate this was enlightening I am now enlightened Nirvana ramen

[@NateOBrien]

Thanks Humphrey

[@crazypvpHow]

dope og name

[@nathanielwiebe2257]

Starting a construction business is so great right now. Easy to bootstrap with tools from a pawn shop and a minivan lol. Commercial or direct to consumer (ei landscapers, deck builders, roofers) has great margins. Residential sub-contracting isn't really a business with the margins being so low, it's more like a job.

[@eliot5220]

Yes it’s a good start as a small business with very little costs but tough to scale

[@InvestmentJoy]

Generally good list, gotta disagree on vending and atms though. If you do a cost break down on reasonable locations, you're at around a $150-$250/hr NOI on time spent. That's enough of a margin to hire it out. One of my guys closed on a route this year, $100k/yr noi, purchased at $80k Immediately hired stock/driver for $50k/yr, 37.5% cash on cash return with no growth projection, and in the end he's growing it.

[@BLACKTEA44]

Idk about price, but I'm going with *VRI TOKEN* . I feel that regardless of gains and losses my funds are safe.

[@aliemircelebioglu231]

Can't deny the fact that *VRI TOKEN* is the strongest bet to bring power back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good, but I don't see that the biggest tech company in the world would put everything at risk just for that.

[@archimedes_espinosa]

You kind of grew up right before our eyes

[@gioc610]

Drop shipping is also a bs business!

[@lilyliciousss]

Is it really? It was something I was starting to look into 😅

[@gioc610]

@@lilyliciousss Well I just think that the probability you make money is slim, the probability you make enough money for it to be worth it is even slimmer.

[@mindibear]

I’d add dropshipping to the list.

[@NateOBrien]

Drop shipping can be great for testing product demand or making a quick buck, but I would rather have operations in house if you're trying to scale a multi-million dollar company

[@md.farid500]

@@NateOBrien Do you see dropshipping as something worthy to start this year?

[@julian8986]

سلام 🌹 برای اینکه بتوانم از مطالب خوب شما بهره بیشتری ببرم، لطفا" ترجمه فارسی فعال کنید. در قسمت زیرنویس و کامنت ها🌹 متشکرم🌹

[@yaelmaimonartist]

Good points! You mentioned passion a couple of times, I think this is a key word. One shouldn't think what business will get me rich, let's open that business, instead you should follow your passion. If you aren't passionate about it, you shouldn't start that business at any point of time imo

[@ritaj7080]

But if your passion is an already saturated markets and your products won’t find enough customers ? Wouldn’t you rather sell something boring but with high margins and high demand versus offer ?

[@yaelmaimonartist]

@@ritaj7080 I think one should strive to build a business that is meaningful for him/her

[@moneycessity]

Agreed, so much easier to burn out prematurely without passion.

[@dangelusaenglishchannel4210]

Man! Thank you for another inspirational video! I have some success in a dividend investing, that I shared in my new video and just posted on my channel! Can’t wait to hear your feedback.

[@salihyuceldi2654]

Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *VRI TOKEN* , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

[@MQalry]

Salih

[@MQalry]

Hesabınımı çaldırdın

[@burkaygomleksiz2666]

Yeah you making 1k invest into something that gives an average 2.9% yield, that would take nearly 30 years to cover that initial 1k, Assuming your investment would grow, how long does it take to actually turn that initial loss around? Of course you can continually increase your investment but then you have more money you need to earn back. Do you simply have that dividend put back into the investment to compound the growth? That's why *VRI TOKEN* is the best

[@selmangunduz8611]

Can't deny the fact that *VRI TOKEN* has the strongest bet to bring lights back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good but the pressure is too high and I think they will keep proper liquidity rather than these others. Don't see them going bankrupt any time soon.

[@lukemiele1706]

Two words; retro-fad products.. Time the fad to buy the old stock and burry them in the yard for 10 years. Dig them up and ride the retro wave. I've been burying goods in my town for years now and will soon be able to crack my first time capsule retro-fad soon!

[@jhonsnow63]

I get such GREAT service every time I go to the *VRI TOKEN* and the IRS is SO wonderful to work with. I DEFINITELY want the Government in charge of my Social Credit Score! This couldn't possibly be misused in ANY way! All the data breaches that the VA has had makes me confident that my data would be TOTALLY safe!

[@farukemre6943]

I did not believe that after the whole FTX drama there's any good to get this year but *VRI TOKEN* proved otherwise. Bad timing maybe but it's a great adoption to get this more to the mainstream and raise awareness. Probably a high contender for a top 100 growth

[@shotarodeniet3301]

Lel

[@Travisb238]

So basically don't start any new business this year, says the millionaire on YT.

[@FiliposhkaSkin]

On the thumbnail you look like a baby 🫣😇

[@NateOBrien]

Haha

[@lestersalamba2840]

John 3:16 For God so loved the world he gave his only begotten son. Who ever believes in him shall no perish but have everlasting life ❤️ Repent turn away from your sins and follow the lord. Tomorrow is not promised

[@barserkan8383]

Yeah you making 1k invest into something that gives an average 2.9% yield, that would take nearly 30 years to cover that initial 1k, Assuming your investment would grow, how long does it take to actually turn that initial loss around? Of course you can continually increase your investment but then you have more money you need to earn back. Do you simply have that dividend put back into the investment to compound the growth? That's why *VRI TOKEN* is the best