How To ACTUALLY Get Rich In Your 20s | The Secrets of Jordan Welch

Added: Aug 6, 2023

At the age of 16, Welch started his first business, a sneaker reselling venture, which allowed him to make his first thousand dollars. However, he faced setbacks and eventually quit doing business for the next two years. After working a job for a week, Welch realized that he wanted to do something bigger and decided to start an online business. He chose e-commerce as his business model and started a general store, selling a variety of products. He learned how to create content and build websites, which helped him attract customers and make sales. By the end of 2017, he had generated $750,000 in revenue and had a profitable business. However, in 2018, Welch faced financial difficulties due to poor money management and bad habits. He moved to Los Angeles, spent money on unnecessary things, and lost focus on his e-commerce business. He decided to shift his focus to coaching and consulting, which seemed more profitable at the time. But he realized that he hadn't lost his passion for e-commerce and wanted to get back to it. In 2019 and 2020, Welch tried to launch a software business but faced financial challenges and ended up in debt. He moved back to his mom's house and decided to start fresh with e-commerce. He built a new Shopify store and found a winning product, a sleep band with headphones. By improving the product and creating viral content, he was able to generate over $10,000 a month in profit. Welch emphasizes the importance of building a brand and focusing on a single product rather than having a general store. He also highlights the significance of creating quality content and working with suppliers to improve the product. He eventually sold his e-commerce business to a private buyer who merged it with his existing sleep business. In addition to his e-commerce success, Welch also discusses his YouTube channel, which grew from 30,000 to over 100,000 subscribers. He attributes his growth to taking YouTube seriously, studying titles and thumbnails, and authentically documenting his journey. He shares his passion for YouTube and his decision to focus on it full-time. The conversation then shifts to the financial aspects of Jordan's YouTube channel. He discusses how ad revenue from his videos is substantially lower compared to other types of content, such as Federal Reserve update videos. However, he explains that he fell in love with creating videos that showcased his personality and storytelling abilities, even if they didn't generate as much revenue. He expresses his desire to continue creating these types of videos and hopes to do one per week. The discussion then delves into the challenges of staying motivated and avoiding complacency. Jordan shares that he tried retiring once but found it to be boring and unfulfilling. He realized that he needs to have goals and something to strive towards in order to feel fulfilled. He also mentions the importance of avoiding behaviors that pull him down, such as sleeping late, being lazy, eating unhealthy foods, and excessive alcohol consumption. When asked about his future goals, Jordan expresses his desire to continue doing his best and maximizing his potential on a daily basis. He believes that the potential for success is limitless and wants to inspire others through his journey. He also mentions his love for traveling and meeting interesting people. In terms of advice for viewers, Jordan suggests that people should follow their intuition and do what they feel is right for them. He also recommends picking one person to emulate and study, rather than trying to imitate multiple people. He believes that focusing on oneself and becoming the best version of oneself is the key to making an impact on the world. The conversation then touches on some of the biggest problems in the world today. Jordan highlights the importance of what we feed and educate our children, both mentally and physically. He also mentions concerns about the economy and the potential for a market crash. Additionally, he expresses his worries about the negative effects of spending too much time on social media, especially for children. The discussion concludes with a conversation about the current trends in wealth and lifestyle. Jordan mentions the shift towards understated and conservative styles, as opposed to flashy displays of wealth. He emphasizes the importance of character, integrity, and how one treats others, rather than material possessions.