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Wealthy Way

The Rise and Fall of Trending Businesses

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.82.1K Ratings

🗓️ 10 December 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

Not all trending businesses stand the test of time. While some fade quickly, others evolve and thrive.---If you want to level up, text me at 725-527-7783! Get access to our real estate community, coaching, courses, and events at Wealthy University https://www.wealthyuniversity.com/Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://www.wealthykingdom.com/--- ---About Ryan Pineda: Ryan Pineda has been in the real estate industry sin...

Transcript

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0:00.0

But let's talk about like a trend business because I've been thinking about this a lot lately.

0:05.0

You know, you and I are both just entrepreneurs.

0:07.9

We just love trying new things.

0:10.3

And it's interesting like thinking about trending businesses because when most people start a business, you know, you think it's going to be like forever.

0:18.5

You're like, oh yeah, dude, I'm going to be in the gold business forever.

0:21.7

But the thing I realized was like every business has an end at some point.

0:25.2

It's either going to get sold.

0:27.3

It's either going to just shut down because it's no longer relevant or, you know, it just wasn't successful.

0:33.9

Or you have a big competitor to come that takes over your share.

0:41.7

Yeah, like it is like, you know, odds are your business is going to die from competition,

0:47.3

the economy, you know, something happening or best case, you have an exit and whatever.

0:50.8

But the odds of like just keeping it forever like slim.

0:51.5

Very slim.

0:57.3

So how do you go about that as an entrepreneur knowing that, hey, I'm going to start this thing, I'm going to buy this thing, but, you know, probably not going to be a forever type

1:01.4

thing.

1:02.3

Yeah.

1:02.6

So, I mean, when I was younger, every single business that I started, I was like, all right, if this

1:08.1

lasts a year, I'm great because I know I can make a lot of money in a year.

1:11.5

And then they started lasting like three years, five years, some seven years.

1:14.2

I was like, holy crap, you know.

1:15.6

So I never kind of go into something thinking it's going to last forever.

1:19.8

I know most people do, though.

...

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