U11 – How to Create New Cash Flow for Beginners — Part II of II
0:04
Hello, everyone.
0:04
This is John Jay Singleton, and I wanted to share with you what I would normally discuss regarding how to create some cash flow, generate some cash flow, acquire a business. There’s all kinds of ways to make more money.
0:20
Everyone has his own preference.
0:23
I’m going to share with you some of the principles that I think are important to consider.
0:26
And a lot of this I’ve discovered over the years, I mean, more than 30 years, probably, just because I didn’t want to be like everybody else. I didn’t want to be an employee, so I figure these things out over.
0:39
Most of my life, and recently, I’m going to share with you what I’ve discovered recently, which makes everything so much easier.
0:47
Um.
0:49
And the whole idea here is that you can generate money for yourself, let’s call it $2000 a month.
0:56
Without getting a second job, yeah, you do have to put some time into it, and sometimes you have to put some money into it.
1:03
Some of the strategies, well, most of what I’ve done in the last 10 or so years been about bootstrapping That means starting a project, as I call it, a project, to make more money, starting with no money or very little money.
1:19
You don’t have to do that. It’s not the best way to go, but it’s quickened.
1:23
It’s quick and I wouldn’t say I shouldn’t say easy, but it’s something that pretty much everyone can do.
1:28
In other words, there’s, there’s no excuse to not creating more income for yourself.
1:36
Just because you don’t have or you think you don’t have the money to do so.
1:42
So, I’m going to show you real right here first.
1:49
you’re looking at a website now, this website is called xchange marketplace dot com.
1:55
This is a business broker that sells Shopify websites. I don’t turn Dorsett necessarily. I just like to use it as an example because it’s really nice. It’s presented nicely.
2:07
The listings are very comprehensive and I see many of these listings as very doable for many people.
2:14
So I like to use exchange marketplace dot com as an example to start.
2:18
So if you’re considering the question of how to make more money, how to receive more money, more income, for whatever reason.
2:27
Maybe you’re retired and you just, you’re not very comfortable with your income.
2:32
This is a way to increase your income.
2:36
You don’t have to be technical or savvy when it comes to the Internet.
2:39
I’m just starting with the Internet as an example.
2:42
I can I can show you some examples without any Internet whatsoever.
2:47
But once you learn the basics here, it’s just convenient for me to show you on the Internet with different websites.
2:54
that once you learn the basics, you can literally go out anywhere in any community with no technology. And you can do the same principles.
3:02
So the thing to keep in mind, it’s very possible, very likely and very doable to start a new venture where you can make more money quickly.
3:11
And I like to say, within 90 days, a reasonable amount of money within 90 days, starting with almost nothing.
3:19
So, that gets rid of a lot of excuses, and maybe you don’t believe me, that’s OK. But I tell you right now, many times that I’ve helped many people do it.
3:27
Here’s a quick example, right. So, exchange, marketplace dot com.
3:33
Let’s just scroll down. I didn’t even. well, I’m logged in, OK.
3:36
So, maybe you want to create an account for free, OK, That helps a little bit, so you just go there, scroll down, and all these listings are right away. You just start seeing all these listings, right?
3:47
So let me show you what to look for. This is my suggestion.
3:53
Here’s a business, the first one listed.
3:58
I don’t care what product is. They’re selling what? Instagram influencers.
4:01
I don’t know, product.
4:07
But anyways, I just look at these numbers, first of all, So, what we’re looking at is a business that’s for sale For $500, and it makes $5000 a month. Now, you have to ask, Well, wait a minute, why, but someone’s sell me a business for $500. Just make it four times that per month.
4:23
That means I can pay for the business in one week with one week’s gross income.
4:29
Well, look at the average profit. So that profit is 50% of the gross revenue monthly.
4:36
And then the seller wants even half of that.
4:39
So, it would take literally two weeks to pay for this business. That’s a pretty good example.
4:42
Now, remember, this is a business broker.
4:46
So the listings should be accurate and I would think the broker would have somewhat vetted out the listing, maybe not that I would think so.
4:55
Because it has a reputation, right?
4:57
But there’s an example, here’s another one, this asking price is $99,000.
5:02
It’s netting $20,000 a month now that sounds like more real numbers, because it’s going to take me monthly, a few months to pay it off. Let’s just go buy this number. I mean, it’s going to take me five months to pay it off.
5:15
That’s pretty cheap because the industry standard for selling a business is the annual income.
5:21
So, the annual income here, let’s call the annual income, is going to be a more, like $400,000, right. Now, multiply that by 12, about 400 or something like that, right?
5:31
So, you would think this would be should be 4 30.
5:34
What I’ve done or discovered recently, is when I look into these different listings, I’ve found that for the most part, you have investors that know how to build a business on the internet or retail type business, Scale it up, have an upward trend of sales within six months to two years, and then they sell it.
5:53
Then they move on to the next one, so I don’t know how that makes some money. I would think it’s making them money.
5:58
I wouldn’t think any of these things are, you know, false listings or false numbers.
6:03
And I just think that there are some investors that just sell early.
6:07
That’s all I could come up with. I’ve never bought from this website.
6:10
I don’t have any deal with the broker or, you know.
6:13
But I’ve looked into some of these, and that’s my conclusion.
6:16
So anyways, take it for what it’s worth, But this is what I would look for.
6:19
Something now, private listing just means probably that.
6:24
Nobody wants to say who it is, right?
6:27
He’s just going to show you the numbers.
6:30
Maybe you don’t carry them.
6:32
See, So, whoever this is, doesn’t want it to be known publicly that he’s selling the business, or they’re selling business, Whoever signs investments.
6:41
That’s why you see private listing here. Maybe it’s a very popular brand or something.
6:46
This is, these are pretty good numbers. I mean, this looks like a pretty good opportunity. So, for example, I would look at like this. Let’s say, I want to make $20,000 a month.
6:53
Well, do I need to pay $100,000? Maybe.
6:57
But the seller will probably accept financing, if I paid off in a short term, we can talk about that.
7:02
And we go on and look, we can see more.
7:08
So, the idea is you want to buy pay for a business that you can, that matches the gross annual income. So, for example, the asking price should be less than your annual.
7:20
So, your annual growth. So this, and this average monthly, it says $582,000 a month. This is craziest.
7:27
Like, I don’t see why they would sell it for that little bit in any case.
7:32
That’s what you’re looking at. Here’s 99,000, right?
7:35
It’s going to take a few months to pay this off.
7:38
I wouldn’t want to pay something that’s going to take more than a year’s worth of gross income.
7:42
Remember, this is the gross total is this times 12, OK?
7:49
I wouldn’t want to go beyond a year, usually you could, But here you go, I mean look at all these opportunities, it’s netting a dollar.
7:57
It doesn’t sound like something but, but if you think about it, Doghouse, or ped, OK, I just happen to know.
8:05
And I’ve not done the numbers research on this, but I can tell by observing.
8:08
The pet products are a big market. There’s a huge market.
8:12
It’s like exercise equipment and diet, diet programs and diet supplements, OK. That’s a huge market.
8:18
And you can just get a niche in that market and make a ton of money, right, So this just tells me there’s no inventory. And it’s got a small income.
8:26
But it’s definitely got to be scalable.
8:28
So, that’s the other criteria that you can pay for it within a year.
8:31
Based on the asking price and the gross revenue, and it can be scaled up, or that the current business is not taken advantage of certain things. And sometimes, I mean, they did that deliberately. They’ll even tell you in the offer, we deliberately didn’t take advantage of this. We didn’t scale up, or whatever reason.
8:47
You want to be able to identify those opportunities, that’s just like any, anything that you get into any type, anytime you get into an existing business.
8:55
one of the first things you want to look at is how can I immediately make more money.
8:58
Like, I buy an apartment complex, you see this all the time, someone buys an apartment, complex, the rents go up, or they fire the top guys, You know, things like that.
9:10
Then of course, you can, if you want to, you know, look at an offer at some point, you’re gonna, you’re gonna need to disclose your identity or something. Whoever.
9:24
you know, name yourself or whatever, and there’s something you’ll need to know later on. But basically it involves when you go to look at books like this, like an offer, like 77 plays dot com, right?
9:35
If you want to make an offer on this, sometimes the seller will want to know who you are, he’ll want to know that’s your business that your business has Accounting records, right?
9:45
So it’s a real business, and it has some income or assets, so it has the ability to pay for this listing usually.
9:53
So, before you even start doing this.
9:55
You may want to consider registering a company and getting a financial statement, which is very easy to do. I’ll show how to do that later on.
10:02
So let’s see, we can see. He’ll tell you the seller’s telling you why the business was started, why is he’s selling it.
10:09
That’s legitimate, reasonable. It’s probably not true. The reason why selling, it’s probably not true, but who cares?
10:15
I take people out there face value in this situation.
10:17
There’s nothing else you can do, Really?
10:20
What’s involved? That’s kinda nice it spells it out for you.
10:23
And look, he founded eight months ago.
10:26
And he’s working on one hour prorate well, look at the results, mean.
10:33
He’s making one thousand bucks.
10:35
So look, this is like almost 50% profit.
10:39
That’s pretty good. Because a good retail brick and mortar, it’s 15%. You can do your research and find out for yourself.
10:45
But what I’ve seen over the years is 15%. This one’s making about 50%, 5 0. That’s pretty good.
10:52
All right.
10:53
So this is one that’s already done for you, right? You can make deals or whatever.
10:57
Exchange marketplace dot com.
11:00
Now, here’s another one, I’m gonna Go back here. I wanted it.
11:03
These are out of order, but one of the ones I want to show you is this.
11:10
This is a similar one that has a more diverse listing.
11:17
Website, closers dot com.
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All right.
11:22
This, well, list your business for sale and will sell your business.
11:27
See websites for sale, like it says, Websites for sale.
11:33
Now, that doesn’t mean that you can’t use a website to market at brick and mortar business.
11:36
You can have a brick and mortar business, and you can acquire a website business that’s similar to your business.
11:42
Let’s say you’re selling Chinaware or you’re selling cosmetics.
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Do you wanna reach a different market?
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You can come to this website closers dot com and by a business, it’s already selling the same product. You are. In fact, it might be a competitor.
11:58
You can buy that business and make it away, use it as a way to scale up and reach a new market in your existing brick and mortar business.
12:06
So, here we go again, we’ve got home services, lead generation platform, whatever, right, it’s producing $4 million a year.
12:17
The seller wants $19 million.
12:18
Now that those numbers may seem shocking for a lot of you, maybe you’re not into that, But I’m just saying, OK, you make the same assessment as we explained previously on this, you know, on exchange marketplace dot com, just different numbers, I’m going to delete that page right now.
12:37
So, who cares what the product is?
12:40
You know, unless it’s something that goes against your morals, it’s a product, and you’re all you care about is the cash flows, co-write weinstock.
12:49
Um, here’s a retailer who wants, he’s producing $2 million at a cost $8 million, so this is more.
12:56
You’re more of your traditional type asking price.
12:59
$8 million, and it’s going to take four years based on the gross revenue.
13:06
Look what kind of business it is it’s a retailer of unlicensed successor’s.
13:12
I don’t know exactly what that means Business to Business, and this is direct to consumer.
13:23
It goes on and on and on you see you’ve got one here.
13:26
It’s producing almost 200,000 a year.
13:28
You want 650 P meeting the seller, I don’t know who is, know, here’s another one, subscriptions.
13:34
You’re just selling here, these are subscriptions, and so forth.
13:39
And I’m sure there’s something that will suit your criteria, What is, what is it you’re willing to pay, and what is it you’re willing to get into, and concerning the time involved in your ability or willingness to market it?
13:49
one of the controlling packer’s I suggest, that you use to decide what it is you’re going to do to make more money is to do something that you’re very proficient in and probably the most important is to do something that you love.
14:04
Hopefully, it’s the same thing. Hopefully the thing you want it, you end up doing is the thing you love and you can and you’re proficient in it.
14:11
And you can make a lot of money as much money as you want in it.
14:14
But I think the most important ways to do the thing that you love, I’ll give an example.
14:18
I talked to a woman the other day, and she loves art.
14:22
And the reason why, she didn’t tell me that directly, she, based on her conversation, I just let her tell me things.
14:28
And then I concluded for myself that it was art, and I confirm that my ask us, and we’ll do like art more than you’d like real estate.
14:34
And she of course said, Yeah.
14:35
And I suggested, did she stay in real estate, developer art, because she needed a studio.
14:41
And I thought, Well, why not, instead of looking for a studio. So, you can do your art, and then, oh, by the way, let’s get some real estate.
14:48
Why not get yourself into a commercial lease agreement, short-term, and build up an art studio, and with the idea that, yeah, you’re a tenant in a commercial real estate, but you can buy the location at some point as your real estate investment, But in the meantime, you can develop a customer base in your art studio and still serve your interests, and doing your own art. You can have your own studio with your own supplies and facilities.
15:17
And you can also create that space for other people, instead of just thinking about the thing you want, why not think bigger and build something that other people will want as well. And then provide that, make that available to them, and that will help serve both of your interests.
15:35
And in her case, that is probably what she’s going to do, just as an example.
15:40
Um, so, anyways, you know, this is just another broker, I’m sure there are many of them.
15:44
There are many brokers that sell all kinds of businesses that are not on the Internet or don’t use the Internet, primarily these two that I’m showing you Exchange marketplace dot com and website closers those use the Internet primarily, obviously.
16:01
It goes on and on.
16:04
Pretty cool stuff.
16:05
Anyways, Let’s close this out.
16:08
You get the idea, I hope, now, if you’re not keen on a particular thing or, let’s say, you just, Let’s say, you have a lot of cash. You don’t need to actually do this, by the way. But let’s say, you just have a recent windfall and you want to do something with it.
16:21
one of the goatees I recommend is getting into real estate and there are many ways of getting into real estate.
16:26
If you don’t know about real estate, team up with people that do, there’s a great organization.
16:30
I always recommend, Georgia Real Estate Association, which is in Atlanta, Georgia, and look it up on the Internet.
16:36
Giorgia, real, it’s what they call it.
16:38
Connecting with that, you can become a member. You can go to events and meet people and get them involved with investors, lenders.
16:46
Real estate investors of all kinds, wholesalers, flippers, property managers, the whole, the whole community of real estate investors, OK.
16:54
Commercial real estate, you name it, So that’s, That’s what I’d recommend. I mean, for anybody who wants to do something with some money, or increase his income, I would say, look at real estate.
17:04
There’s all kinds of ways to do it, so I’m going to show you, um, a great source that I just like.
17:12
I don’t think we need this, but this is A a real estate investor organization.
17:20
See, it looks at the best website.
17:23
It’s called bigger pockets dot com. So, I’m just going to go to the main site.
17:28
Rather, bigger, pockets, dot, It’s got all kinds of tools here. It’s good to see what’s your information, right? It’s marketing.
17:38
There’s a bookstore, write all kinds of good books to get on real estate investing.
17:41
Now, I’ve already done some research on this one, so let me share with you.
17:44
Here’s one of the things, this, this is that’s recommended. This is so cool.
17:48
This bigger, pockets dot com has a list of the 15 best books to buy on real estate investing, and I’ve read some of these, probably half of these All right. And I agree. This list is very good.
18:02
Especially the last listing here, but here are the best books on real estate investing. They can get this at bigger pockets dot com.
18:11
The best real estate books, ever, right?
18:14
You can Google that. You can use the URL that you’re looking at right here. You’ll find it’s pretty easy. Notice how it’s a PDF file.
18:22
But look at these books, OK?
18:25
Good stuff.
18:26
This is highly recommended.
18:27
I don’t refer this to many people for many people to buy this.
18:33
No money down, Lot of strategies on that.
18:40
House, I’m flipping, now managing rental properties.
18:45
This is an excellent book, very basic for beginners. Definitely if you haven’t read this, definitely get that.
18:51
And this is core also, this is just the way you want to do things.
18:57
Very classic book.
18:59
Good stuff.
19:01
All right, you can find that.
19:03
This is what I recommend, OK, from bigger pockets dot com.
19:06
You got this book for free Ultimate Beginner’s Guide dot PDF.
19:10
Start on the website and download it, OK?
19:16
Real estate investing, 85 pages.
19:18
That covers all the basics, definitely, if you haven’t, or you’re just learning about real estate, even if you’re a bet season, check this out.
19:26
There might be some resources for you there.
19:29
I’m not going to go over that book, But I want you to, I want you to see here’s information on how you can develop more income by getting involved in real estate, and other people have already invented the wheel. Don’t have to figure this out.
19:44
We don’t need that.
19:48
Let’s see here.
19:52
There is something interesting here I want to share with you, right?
19:56
I’m going to skip ahead here.
19:57
Just for fun, I found A I started following this person in Canada on what he was doing on fasting, OK.
20:08
And he has this logo and he calls it the snake bites. Someone made this logo where he takes the snake.
20:12
You know, the medical symbol, and he puts a fork in the middle of it see, and it’s a program where, basically, it’s telling you had a fast on saltwater and he’d like a snake, so you don’t need very much very infrequently. So, anyways, I thought was pretty cool. He has a great platform and he’s basically openly said on his platform.
20:28
Please use my logo. If you want to use my logo to promote things, go right ahead, I said, Fine.
20:34
And I went, took his logo, as you can see and I created a snake’s Skin.
20:41
A snake diet snakeskin cap, now, I’m not sure if this is real snakeskin, I’m buying it from China, I’m going to show you what I did.
20:47
I’ve got a snakeskin hat here now I have other items.
20:50
I’ve got this.
20:51
It’s a nice polo shirt, OK?
20:55
Then I took his M, let me see all that stuff.
20:58
So, um, there are millions of people following this program, and I thought, you know, if I did this, I could promoted and make a pretty good income. I haven’t promoted it, but if I did, I think I could probably make at least a few thousand dollars a month.
21:13
And I’m the one shipping this stuff out.
21:14
So the order comes in, notice how this is on e-bay, but I can promote it anywhere I want.
21:19
So the way I set this up is this: I went to Alibaba and I searched on apparel.
21:27
And I found a supplier in China, probably was Shenzhen Province, which is common.
21:32
And I found somebody that would ship me, make this shirt for me, which, by the way, the company I’ve found over there, don’t ask me who it is, because I don’t, I can’t pronounce these names, but it doesn’t matter.
21:43
The idea is that I got a company to commit to making this polo shirt for me, I think it’s 100% cotton.
21:51
And, um, ****, me, it doesn’t.
21:55
And I said, I don’t mind paying more, In fact, I probably will lose money on the first orders.
21:59
I just want, It doesn’t, somebody wanted me to buy 300, and I didn’t want to commit, you know, a few hundred dollars, or, I mean, I mean, like, thousand dollars or more on my inventory to start out, right?
22:09
Who wants to, if you’re going to try to start with no budget or something, don’t start off paying $3000 from some other place.
22:16
Try to get the money from the deal you’re making, So, yeah, put in a few hundred dollars to get the shirt.
22:22
So what happened was, I had the manufacturer make this shirt for me and send it to me so I can approve it.
22:28
So I took this image that you’re looking at, and I uploaded it to e-bay.
22:33
Same thing here. I didn’t even have this in hand.
22:37
I took this image and upload it. Now, I don’t know why there’s different pricing here. I think it’s because ones that alternate one’s not.
22:44
Anyways, so you see how this works and out when the first order came in, I didn’t have the inventory. So I told the customer it’s on back order. I’ll ship as soon as possible, and he was OK with that. So I ordered it, I got, it, was probably a few weeks later, And I feel the order, he was happy with it.
23:01
Same thing here. I think I sold one of these and two of these shirts, OK.
23:06
But now, I have an inventory, I have about 12 of these. And I’ve got 11 of these left.
23:10
I think I got 10 of these left, OK, But that’s how it goes. So I’m in for about, you know, a few hundred dollars.
23:16
So, what if I were to market this, I probably could make you know, 3000 a month.
23:21
Now, here’s another version of Ali of Alibaba.
23:24
I’m not saying Alibaba is your only place to go and I don’t have any deals with Alibaba. I just use it as a resource, the tool.
23:30
Ali express is another way where you can actually find suppliers to sell you lower quantities at once.
23:40
So Alibaba and ali express.
23:43
I use these two to create this product. I listed it on e-bay and I have sold a couple with no money out except my inventory.
23:52
I recommend, if you’re going to spend money first, your first money should be, spending are spent on marketing, because that’s where you’re going to make money.
24:02
You shouldn’t be spending too much money on inventory and stocking preparation.
24:07
I mean, sometimes you have to, but I try to focus my money on marketing first.
24:13
I happen to spend money on inventory this time, but it was a small amount, plus I just want to use it as a demo.
24:20
All right, so there’s Alibaba. Now. Here’s something else that’s kinda cool.
24:24
Let’s say I want to make a product. Here’s, here’s what I did recently. Now, this is actually a couple of years ago, i-tunes.
24:29
I got an Account Overt shapeways, shapeways is a three-d. printing service, three-d. printing on demand. It’s kinda like loulou, which I’ll get into shortly here.
24:38
Shapeways allows me to go, I can sell a product, It’s already on Shapeways, like, for example, see, these items here, they’re showing you.
24:46
You get all kinds of things like you can have toy parts. You can have stroller components, you know, strollers, like for Baby Stroller.
24:55
You can have whatever you can imagine. So, what I did is, just for curiosity, I went to Shapeways and I found out which products sold the most. And then, we got that information is, I just Googled it.
25:03
I said, Most popular.
25:05
I searched for the most popular product being sold on shapeways, and it turned out to be at the time.
25:10
A couple of years ago, Little three-d.
25:13
figurine of Kiana re-use sitting on the edge of a counter.
25:18
But there’s, like, you know, head in his hand. All right. I don’t know why that was popular.
25:22
But anyways, so I figured, OK, so if that’s the most popular, I can just find a niche market and sell to that market where there’s less competition because it’s popular.
25:31
So but I need to find a niche market, so it’s not so popular in that market, and because it’s popular in the other market, I probably would do well, my niche market.
25:39
That’s the way I look at this stuff.
25:40
But shapeways just happens to be a place where you can do it, and yeah, the premiums are higher than if you had bought your own three-d. printer and made it yourself But this is really convenient.
25:48
Especially, if you need something like, um, if you want to make a product, that you need a factory to fabricate, but you can’t afford the, the startup costs. So, you would use shapeways to do it if it’s compatible, right, if your material requirements can be met.
26:08
But you could use shapeways to get started, to generate your cashflow determine your market, and then you can get that, a little bit of capital, and go work with your fabrication facility.
26:19
Like, uh, like injection molding or whatever it is going to be right now. Another cool thing about Shapeways is you can use its software, I believe.
26:28
And you can actually upload your own model up something and have Shapeways print it, fabricated ship it to your customer or yourself, like a coffee mug, Right?
26:37
Something stupid like that or a bracelet, children’s, you know, jewelry, things like that.
26:44
You can also download one of its files on an image, and you can modify the file to your liking and then upload it as a new product. And ship it out and sell it that way, You can actually sell it that way. It’s kinda like an Amazon store.
26:58
Now, let’s get into that too, real quick.
27:00
So that’s shapeways, get rid of that.
27:03
Now, we’ll go see here.
27:11
Let me run a couple of things via. Let’s get rid of Alibaba. Let’s get rid of that for now.
27:16
Let’s look at this.
27:19
Again, I’m just, no, this is such a big subject that seems like I’m jumping around and maybe I am, but I think if you just follow along, take some notes and see what appeals to you.
27:28
You could put something together.
27:30
one of the things you may want to consider is, I know a lot of you out there with precious metals, And, to some extent, it’s not really making any money.
27:38
Maybe it will.
27:40
But if you could collateralize it, borrow against it, you can fund something.
27:45
And I wouldn’t go into too much debt.
27:46
and I would only use a portion of my medals, whatever you’re comfortable with.
27:49
I wouldn’t bet it all, right.
27:51
But you could, you could do this, yeah.
27:55
Here’s a service and I have not done any business with these people, I just happen to find it through research.
28:02
Meaning, I Googled it, right? And I read it and I said, OK, this suits the needs I’m looking for.
28:07
So what these people do is they will, they will let you borrow cash against your precious metals.
28:14
And then you can get into something like, for example, if you had a business that was, he could, they could be bought for $50,000, right?
28:21
What I would do is take $25,000 worth of precious metals that I would borrow against, and I don’t know what their conditions are. I don’t know if they want to evolve your own your metal for you or whatever that they’ll tell you on the website.
28:33
And then I would, I would make an offer to the seller that will finance it, I’ll put 50% down and see, that would be an example of how to use your precious metal, and actually to start making money.
28:45
And, again, there’s another service. Let’s find another one here. I’m not gonna go into too much detail, but I wanted to just share that with you as an idea.
28:53
Here’s one called the Lux Exchange.
28:59
Again, I’ve never done business with these organizations.
29:02
I just happen to find it through research mmm hmm.
29:08
They tell you all about the types of assets, precious metals, things like that, I see here.
29:14
It’s stuff even real estate.
29:16
You can use your property that has value, Apple products, fine art.
29:22
Maybe I’ll have fine art out there that’s just hanging on the wall or something or in a storage place.
29:27
All right, you can put it up as collateral, get some cash out, make some money with it.
29:32
So that’s just another, another service, that looks exchange dot com.
29:39
All right.
29:40
So now, let’s get into something else here I want to show you.
29:48
Now, I showed you already about exchange marketplace dot com and Exchange marketplace dot com is the one That’s a business broker.
29:56
That sells Shopify websites, So check it out. I mean, you can buy an existing business.
30:02
It’s a Shopify website however you want you can go through that broker however or you can build your own.
30:08
You can start one just go to shopify dot com. Here’s another one.
30:13
In fact, there are YouTube videos that tell you how to build a Shopify Storefront.
30:17
There’s another one FC.
30:20
You can buy an existing one, I don’t know who’s brokering those, but you can you can probably find someone who’s brokering Etsy websites or website businesses, that is a good one. Shopify’s a good one. Now, we also have Amazon Prime.
30:32
Amazon has of business type website, like there’s for consumers and others.
30:42
For business owners, you can sell through Amazon, just be cautious, because they’ve got the fees slighted toward favoring people that can sell at high volume.
30:53
So maybe you want to build up your market in what are the less the other services that have less fees like, go.
31:03
No, like Etsy or Shopify. And then get into an Amazon. I don’t know, you might know better than me. I’m just suggesting that I would stay away from Amazon because of the way it charges ease. Because sometimes you end up becoming an Amazon employee or sales agent rather than having your own business because of the fees that are charged. Sometimes you can even lose money.
31:22
An Amazon sales, so you have to be careful. You should look at the fees very carefully.
31:28
And the different types of accounts with Amazon, but Amazon, you know it’s a pretty good tool. I mean, I’m I’m more inclined to look at Shopify. Etsy e-bay I mean even e-bay and Amazon.
31:36
I mean they might be you know your fees are Now depending on how your model business model is that these might be too much. It might be very.
31:44
Um Affordable depends on what you’re doing.
31:49
So Amazon, e-bay You don’t have to go too far into that now there’s one thing You may want to look at.
31:58
OK, so we’ve talked about collateral, OK? here’s one last thing I recommend like real estate.
32:04
I also recommend producing or publishing, or writing or compiling some sort of book on its subject.
32:10
And I don’t care if the subject is so prevalent.
32:14
Like, I don’t know what kind of what kinds of books are. I mean, you could do you could write a story. You could write a novel, Maybe you’re not a writer, but you can also write how to manuals I’ve seen people write and publish.
32:26
How did how to compile a scrapbook?
32:29
OK, this person that I know wrote a scrapbook.
32:32
I’m sorry I wrote a book about how to make a scrapbook.
32:36
And he didn’t even write the book.
32:38
He got someone in another country to produce the whole manuscript, like a few hundred dollars, and he sold it, and made like 30 or $40,000.
32:49
Just by knowing how to put this stuff together, you’ve got someone else to write the book on a very common subject, and because he was able to market it a certain way, he was able to make the money on it.
33:00
So, but anyways, here’s how you do it.
33:04
Let’s say you’re going to put a book together.
33:08
It could even be a book on algebra now, today. These subjects like algebra are good on video.
33:15
But Books’ Notebooks can do well, depends on how you’re presenting it.
33:20
Um, anyways lulu dot com, let me just tell you.
33:26
I’ll give you the crash course on lulu dot com because you’ll need to come here and check it out.
33:31
Just sign up, get a free account and check it out. It’s really awesome, almost I’m gonna tell you how this works. So lulu dot com will take your manuscript. Let’s say you’ve already written it.
33:42
You can upload it to lulu dot com and a PDF I think is a PDF and it will help you design a cover.
33:49
It will assign an international standard book number for you with a QR code or a UPC code.
33:56
It’ll produce all of it, and it’ll make a deal for you.
34:00
With Amazon, Barnes and Noble and all these other booksellers’, like 10 of them are 12 or more, I think.
34:06
If you go through lulu dot com first, and I think the most at what cost he was like $50, sometimes they’d run a special where it’s free.
34:13
But for $50, loulou will get you an ISBN.
34:16
And by the way, you can get a whole list of maybe 100 ESPN’s for, I don’t know, from it, from the forget the US. Patent Trademark Office.
34:26
I think, I forget who said, Oh, cells, But it doesn’t matter, you get what you need to put a book on the shelf if that’s what you want to do and have it sold through booksellers or you can do it online through lulu dot com.
34:39
It’s very easy to do.
34:41
Everybody should do that, Everybody should be looking at real estate, at least one deal a year.
34:48
If you’d like playing video games and and watching TV, I would say you have time to invest in real estate.
34:55
Some people spend a lot of time, like my father used to spend a lot of time shopping for liabilities.
34:59
Yeah. He would show up for a vote than a motorcycle than a pooled analysis. Just never bought assets.
35:04
He always bought liabilities, because as credit was good, if you’re spending time, you’re finding yourself spending time doing that or shopping for interest rates.
35:13
You may want to consider shopping for assets, OK, and what will bring you the type of income you want for the effort you want to put out, OK, so lulu dot com is a great way to get started.
35:25
E-bay is a great way to get a product out there. Just use your imagination.
35:31
There you can build a storefront.
35:33
You don’t have to.
35:36
I just use e-bay on this listing.
35:40
Lulu dot com, check it out, all right.
35:41
So let me show you a couple of tools.
35:45
Let’s say I want it.
35:47
Ah, OK. Let’s look at this.
35:50
But let’s say Remember back here. We had this logo though.
35:53
I didn’t create this logo but let’s say I wanted this logo.
35:57
Let’s say I had an idea about my particular service or product and I can only describe it to you in words, right?
36:04
So, what I would do is come over here and I would go to this service called fiverr dot com, F I V E R R, double R.
36:12
OK, barbara dot com probably have a login here favorite dot com is a list of professionals that will do things for your business for five bucks OK, that’s why they call it fiber dot com.
36:25
Usually, they call that a gig. All right? So, if I hire someone, for example, to design a logo for me, he’ll probably charge with like three gigs, right, Which is $15.
36:35
That’s pretty awesome.
36:36
Now, I can get somebody to produce a commercial or do a product opening for me, right?
36:41
So if I’m going to sell a product, let’s say it’s going to be a toy car. So I would package the product, just like I said to my customer, and I would send it to one of the contractors here at … dot com.
36:52
I would already make the contract.
36:53
I would pay him in advance and then I would ship him my product, and then he would do an unboxing video of my product.
37:00
However, I wanted him to do that. He would wear what I told them.
37:03
He would say what I told them. He would whatever.
37:06
Then that video then becomes part of my promotional material, and I could do it for really cheap, I mean, really a few hundred bucks do and an unboxing is really a good price.
37:15
I can also have someone produce a commercial form on this website, OK, All kinds of services, I can have someone do a balance sheet and income statement for my business, if I want.
37:24
I had someone do that for me.
37:27
I mean, I can make someone, I can have somebody do a press kit, so all you do is come on to the, let’s see here, let’s find somebody do a precedent.
37:35
I didn’t even sign in, right? I didn’t even login.
37:38
Here we go. Here, these are people.
37:40
Design a professional media kit.
37:42
There you go, and 20 bucks.
37:45
What that means is, he’s going to charge you four times $5 or four gigs, is what they call it.
37:51
There you go, here’s an electronic press kit, Really cool.
37:53
It’s like a webpage to promote something. This, this is how you get on the radio, by the way.
37:58
You do a press Kit, and this gets you on the radio.
38:01
You send this out to radio producers, TV producers, brokers. They will place you.
38:08
All right. You can make a lot of money doing this.
38:12
Everybody should be doing this.
38:14
It’s just fun, and you can make all kinds of money.
38:17
If you already have a product and you’re not selling it, get a press kit. Send it to radio stations like, do, like 100 a month.
38:24
It will blow up.
38:26
You can now get on Facebook like this.
38:28
Let’s say I need to promote something and I’m gonna do it on Facebook terms like this, Facebook.
38:33
I would not use Facebook, by the way, for social networking, I don’t do any of that.
38:37
They’ll never find me on Facebook, But I wouldn’t mind having an agent does marketing for me. Create a Facebook account for that purpose because I would use it for advertising Because, really, that’s what Facebook is all about.
38:47
It’s about marketing, will check this out.
38:49
Facebook ads, these people create a Facebook ad.
38:53
It’s funny that you sign up.
38:55
All right.
38:58
And, then, you could pay someone to place the ad, You could pay someone to place 30 ads for you all over the internet.
39:08
You name it, there’s all kinds of platforms I’m not going to go into, You can find as you start looking.
39:12
So you see how this goes, This is endless.
39:14
I mean, we could talk for days on this subject non-stop. There’s all kinds of ways to make money. All kinds of tools out there at your fingertips. use your creativity.
39:23
Um, let me show you a couple more suppliers, like fiber dot com.
39:27
Let’s see, there is, Oh, here we go, OK.
39:33
Mmm hmm.
39:34
Here we go, OK. Just to Wow!
39:36
There’s 12 of these offhand, but let’s look at this one.
39:41
Here’s indeed dot com, again, same thing like fiber dot com.
39:49
…
39:50
just needs to, um, Part-time warehouse.
39:58
There’s all kinds of so, OK, … dot com is more about hiring people. So just just keep that in mind. It’s not like I’m going to do some all the time on the internet, although you could, but it’s just a tool.
40:08
There’s another one to. Let’s see.
40:12
Yeah.
40:15
Oh, here’s another one.
40:17
Up work.
40:19
I’ve never used a port that I remember, maybe a long time ago, but I use fiber all the time.
40:25
Pepsi: People do stuff for you. Design and create a website, somebody can write stuff for you. You can have someone edit your book for you. Someone can market your material a product.
40:36
Someone can engineer something if you have an idea for a house, or a bridge, or a walkway.
40:41
You can have someone design it. You can have a draftsman.
40:44
Do this for you, an architect, somebody.
40:47
All right?
40:47
You can have someone answer your phone like here at customer service, and tech support.
40:53
You see?
40:55
There’s something else, too, I want to show, share with you.
40:59
Watch this.
41:01
Accounting India, people in India have services that cater to US clients.
41:08
People in North America, they’ll do your accounting, They’ll do customer service, All kinds of stuff. Tech support, I’m sure you already know that.
41:16
But it’s very affordable and easy to find, and there they are very, um, well versed in English and even the tax laws here, of course.
41:29
Online accountant.
41:34
So, Accounting in India.
41:38
Anyways, if you need accounting for a business, and you want some anonymity, you can.
41:42
You don’t have to go to India, but I’m just saying, India is a pretty good tool.
41:47
Check it out.
41:48
All right. They have very good standards.
41:51
If you want that for your business, I would just recommend checking it out.
41:55
Like I said, you know, indeed, Upwork and Fiber. These are great ways to outsource little details that need to get done. You don’t have to spend all your time, like learning how to program a website.
42:05
I used to do that way back in the nineties until I got a little bit smarter, and you can outsource everything. You can produce commercials, then use your press kit to air the commercial. I mean, there’s all kinds of ways.
42:18
If you develop some kind of budget, you can have fiber to produce a commercial and then find the airtime to publish or commercial.
42:33
So I think that’s good for now.
42:34
I don’t want to go too far into this, but you get the idea, It could be a lot of fun. Think of it, at first is maybe a hobby, something fun, you should always be fun.
42:42
It shouldn’t be like, oh, my gosh.
42:44
I have to do this work and it’s, it’s drudgery.
42:49
And I hope that it can make money someday. It’ll be so difficult. It should be fun.
42:56
So we don’t need all this stuff.
42:58
So maybe someday you’ll start seeing this date for sale everywhere. I don’t know if I want to do that, or maybe you might want to sell it or steal my idea.
43:07
I don’t know that I could stop you, because I don’t have any rights over this logo.
43:12
Anyways, we can get into all that stuff, too.
43:13
I mean, I can show you how to bring on equity partners to licensing agreements, And it’s not hard to learn that stuff. But in the very beginning, you just want to be able to identify a market, a product that appeals, or should appeal to that market, and a way to supply that market in a way that you can handle it.
43:30
Decide how if it’s a product, you’re gonna drop, ship it, or you’re gonna have it, you know, you’re gonna do it yourself, Or how that’s going to work? How are you going to manage that function?
43:41
CJ?
43:43
Well, I’m going to edit for now. I think this is giving you lots of information to check out.
43:49
All right, See you in the next episode.
43:53
I know I’m gonna do the next second video of this, It’s gonna be in a series.
43:58
So, Hope this helps.