In this article, you will read how John Henry from Viceland got into entrepreneurship. He comes from an immigrant family, which came to America to give children the opportunity to see the world. But that's the thing, it's an opportunity to have the world, meaning there's no silver spoon. You have to work really hard to get it.
For a time, John worked briefly as a porter. He met a local resident who offered to put him in the business, because no matter how many times he opens the door, his earnings are limited. And he said to him, let me show you how to make value out of your time. The man had his own chain of dry cleaners and he gave him access to one of them and all John had to do was go and go round people and tell them how he loved their blouse, their jacket, their clothes. People would give him their clothes to be cleaned, the mentor would charge him the wholesale price, and John would charge people the market price. And that's how he made money.
Then he entered the world of film business. The first film he was involved in was Wolf of the Wall Street. He then worked on Boardwalk Empire and Law&order. So he dropped out of school. At the age of 18, he dropped out of college and started his first business, which grew and was lucky enough to sell it and after that he invested in businesses, developed them further and then sold them.
Basically, you spin something that has an infrastructure, that provides value. It's a service, John was able to add value to the business as an intermediary, as a broker. They asked him how he got the rich contracts? He learned that wealth is in niches. Everyone around him was killing himself with work for $40 transactions, and he was in business with big businesses. Specifically with the series Law&Order, they filmed more than 30 seasons and every 3 months they came to John making bills of 40 to 60 thousand dollars.
John likes niches, for anyone looking to expand their business, if it's in a space with a lot of competition it's like you're a lit match. There it all boils down to who has more seed capital, so if you're a beginner with a start-up business, you're limited financially, so you can't expand much in the beginning. A sign to enter a niche is when an individual knows individuals. His entry into the niche was a person from the beginning, so it was a good deal.
He sold his business after a few years. He just wanted to clarify, he could have made more money if he hadn't sold it, but he didn't want to do that anymore. The reason why he sold the business is because he realized he didn't want to do it anymore. He looked at it only as a stepping stone. How to get into the game. If it was his passion, he would have remained in that business, but it is not. The good thing is that through that business he learned how to build a business and it helped him to continue his business career.
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Source: youtube
