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Gruppe joinen!! Vielleicht bringts ja was…

To my knowledge, there is no other blog or book or lesson or presenter who shows someone the basic pieces necessary to generate wealth with real world experience as I will. It’s the nuts and bolts of the whole buy, build, sell process.

There are basically 4 steps:

1. Preparing – What you need to know prior to getting started.
2. Buying – How to find, value, negotiate, and purchase a business.
3. Building – What you can do quickly to increase the value of the business.
4. Selling – The ins and outs of selling your business.

Preparing

Ironically, as my most recent blog has pointed out (it’s ironic because it took me 18 months to write the blog that I should have written first), the most important part is your mindset and your attitude. Next, you’ll also need to take the first 3 steps to becoming wealthy including, always spending less than you earn, understanding the difference between where you are and where you want to be is education, and framing your goals into  Do x Be = Have context. Possibly most importantly, you need to have a clear motivation for being an entrepreneur (even if it’s different than mine) and you need to appreciate that the ethical route is always the most profitable. And make sure you’re able to get over your fear of failure in trying new things.

It’s important to understand that there’s no better, quicker way to go from very little money (let’s say less than $5,000) to a lot of money. You can even take it to the next level and setup a business to generate $1,000,000 per year if that’s your desire. Recently, as part of another blog, I’ve outlined a basic plan for how someone can go from $5,000 or less to $1,000,000 primarily through business. To stress the point even further that buy, build, sell is the best way to generate wealth for the average individual, review my suggestion to skip getting your MBA and just buy a small business for your business education.

Buying

In the buy, build, sell strategy, the part that will have the greatest influence on your profit is the purchase price so learn as much as you can for this stage.

First, you’ll want to know some basic questions to ask the seller about their business and maybe even what questions to ask about any given business idea. Then you’ll have to understand how banks value a business in case you need to go to them for financing and also how EBIDTA can tie into business values (since sellers and business brokers may reference it). As you start looking for businesses, you need to have some ideas of where to find businesses for sale for little money down and how to deal with the business brokers once you find one you’re interested in.

Before you start making any offers, it’s very important that you get the seller (or broker) to like you since then they’ll be more likely to accept your business valuation. It’s very simple to turn someone down you don’t like anyway. Once you’re ready to make an offer, make sure you only purchase the assets and then put them into an LLC filing as an S-corp. If you do that, you won’t have to spend nearly as much time fighting with lawyers. But since you may need one anyway here are a few tips for getting the best rates from your lawyer.

When you’re just starting out you may be considering a partner but make sure you don’t take on a business partner unless absolutely necessary.

Building

In the building stage you’re going to need to know what to do your first 2 weeks onsite at a business you’ve just purchased. If you don’t already know the difference between profits and cashflow, I’m sure you’ll learn very quickly.

Immediately you need to work on polarizing your company’s culture, improving teamwork, and communicating effectively. Right out of the gate you need to start setting up your business for running without you through the effective use of technology, incentives, and empowering your team. If you don’t do that immediately, you’ll soon be asked to do lots of things “in” the business that will take away from you working “on” the business. This is vitally important because if you’re not working on the business you’re not taking the time necessary to double profits, improve marketing, teach your team the importance of NLP, create systems, processes and scripts, or improve closing ratios. In other words, your primary focus for building value in your business is going to entail 3 parts:

1. Increasing Sales – through new and improved marketing and better conversion rates. In other words you have to make sure your system for taking a lead and converting it to a customer is top-notch. Don’t forget that your back-end sales (sales to existing customers) will always be your most profitable business. With that in mind, if you can buy an already profitable business that’s horrible at back-end sales you can quickly increase its value.
2. Cutting Costs – look at all of your expenses and simply cut those that aren’t needed. We reworked our accounting and phone costs alone to save thousands of dollars per year.
3. Improving Efficiencies – this is primarily about scripts, systems, and processes for every aspect of your business.

Don’t make the mistake I did and wait until cash gets tight to realize that cashflow is king and then start building recurring revenue while looking for quick, easy, cheap ways to generate immediate cashflow.

Chances are you’re going to run into some issues with team members so it’s helpful to know the proper way to fire someone without having to pay unemployment and effective ways to get your team members to do what they do best.

As you’re building your business you need to work on getting it to achieve critical mass by, in particular, hiring or training the 3 leaders every business needs to succeed.

In summary, you need to have a game plan from day one including an exit strategy or else you might end up like one of the 300 businesses in NYC who failed because they failed to plan for success.

Selling

Since this blog is getting long and selling isn’t much different than buying I’ll keep this short. You need to basically understand 3 things:

1. How to value your business just the same as discussed in buying so you can justify your price.
2. Where to list your business which is again the same places where you’d go to find a business for sale (such as bizbuysell.com)
3. How to foster relationships so that when it’s time to sell, you have a few personal contacts in mind.

With regards to the 3rd, you may want to get to know other business owners in your area who have complimentary (or even competing businesses). You may also consider hiring a leader who would like to take over and own their own business some day. If you have a franchise like mine, you will also want to stay in touch with owners in other areas as they might want to expand their operations.

The goal with this post is to organize and direct the many varied posts I’ve written about my adventure buying, building, and now selling my business over the last 18 months. As I add more posts I’ll try to keep this summary updated so you can always reference it for new material.

To your generating-wealth-through-business success, Bryan

A nota de 1.000.000 da Romênia (clique na figura para abrir em tamanho maior) é apenas para ilustrar a marca de 1 milhão de visitas que o blog Televisão é Magia alcançou hoje, 30.09.2009, com exatos 9 meses de vida.

Aproveito para agradecer imensamente a todos pela audiência e comentários deixados aqui no site. Um grande abraço a todos e que consigamos atingir mais 1 milhão de visitas em breve.

I’ll admit it: I have a pet peeve. It irks me every time I hear someone say the word. That awful, brainwashing word that keeps the whole world down. Can you guess the word? I’ll give you a hint: You’ve probably used it before as an excuse for not pursuing the things you really want in life. Do you know what it is? Yep, you guessed it…

Unrealistic.

What does it mean when you say something is unrealistic? Does it mean it’s not compatible with your perception of reality? Does it mean it goes against what you’ve been taught? Does it mean that the odds are against you? Yes, it does. That’s why you need to break free from it. If you remember anything you read here, remember this: YOU decide what is realistic for you. If you believe that earning $100,000 in twelve months is unrealistic, you will NOT be able to make $100,000 in twelve months. If you believe that earning $100,000 is realistic, you WILL be able to make $100,000 in twelve months. The only thing standing in your way is you. Answer me this: Has anyone in your financial situation (or worse) made $100,000 in twelve months before? Yes! They have. So, is it unrealistic? It can be if you believe it to be, but it wasn’t for them. How did they do it? Simple: They set a goal and they believed they could achieve it. If you keep coming up with excuses for why you can’t do something, you’re just throwing obstacles in your own path. If you’re still not convinced of the power of your beliefs, here’s a testimony by a young actor you may have heard of. His name is Will Smith, and he is one of the highest paid stars in Hollywood today:

Unless you’re a doctor, lawyer, or work on wall street most people will never be able to become millionaires without one or more of the above methods for generating wealth. As a matter of fact, less than 12% of millionaires get that way by virtue of their “jobs” according to The Millionaire Next door. So what’s the easiest/best path to becoming a millionaire?

The most important concept to understand is leverage. The goal is always to do more with less. Whether that’s make more money with less invested or more money with less time, the more you can leverage your current assets the more quickly you’ll be able to acheive millionaire status. Now which option – stocks, real estate, or small business provide the greatest leverage?

In reverse order:

1. Stock market – Once you acheive $1,000,000 in your bank account you can put that into a CD at your local bank for 5% and live comfortably off of your $50,000 per year in interest. Also, once you acheive a net worth of over a million with income of over $250,000 your stock broker can get you access to buying public shares at wholesale prices. In other words, the more money you have to invest the cheaper your per share investment will be. The problem with stocks is that you have to have money to leverage the stock market. Unless of course you can convince a bunch of other people to invest with you in which case you can leverage their money. However if you did that you would no longer be an investor you’d be in business. Typically a stock market investment prior to becoming a millionaire might look something like this. You invest $5,000 after doing your thorough research on EBB LLC and after a year manage a 20% return. That’s a VERY ideal situation but if you did that you’d cash out in a year with $6,000 or $1,000 profit. Not bad but not a whole lot of leverage there. If instead you invested $20,000 and you’re the next Warren Buffet who can sustain a 20% annual return for 21.5 years you’d be a millionaire. That’s before taxes of course.
2. Real Estate – If you’ve been around real estate at all you’ve heard the often touted “statistic” that “real estate makes more people millionaires than anything else.” I say “statistic” because I’ve never seen hard evidence to back this up and even if someone produced it, I believe they’d be showing that people are paper millionaires. In other words, on paper their real estate is worth $1,000,000 if they sold it for a $1,000,000 but they don’t exactly have a million smackers in the bank. Real estate is beneficial however in that it gives you much greater leveraging power than the stock market. For instance if you buy a $100,000 property with $5,000 down (which would be tough these days) you would then have around a $600/month mortgage. If you then rent the property to someone else for $1000/month you now have a positive monthly cashflow of $400. Now here’s where the leverage comes in, if the property appreciates 5% in one year and then you sell it (by yourself of course since a realtor would take your profits), you would cash out with $14,800. Let’s say after insurance, maintenance, taxes and other expenses you actually walk away with $10,000. You invested $5k to begin with so you made $5,000 or a 100% return on your investment. Obviously this is an ideal situation however I’ve personally done nearly 100% in less than 22 months so it is definitely possible. If you were able to maintain a 50% return on your real estate investments every year by acquiring positive cashflow rental properties (with the first one worth $200,000) that appreciate at 5% annually you’d be a millionaire in a little less than 10 years. As a matter of fact, in Robert G. Allen’s book Nothing Down for the 2000s, he proposes just such a strategy to help you become a millionaire within 10 years. It’s actually a very good book that I personally credit for inspiring me to buy my first rental property at 21 while enrolled in engineering school. Obviously real estate offers quite a bit more leverage…
3. Small Business – Here’s the bottom line, with around $5,000 out of pocket I’ve structured a business purchase that has yielded me in perks and compensation more than a 14 fold return on my investment within 12 months. That’s right, a 1400% increase on my initial investment in less than 12 months. Keep in mind, that’s on my very first business purchase and that’s without even selling the business yet. Since I’ve nearly doubled the profits in the business in my first 12 months, I would tend to think that my ROI will actually be well in excess of a 20 fold increase on my money. To make the math a little simpler, a 20 fold increase would be like investing $5,000 and getting back $100,000.

Now to make the comparison more accurate we need to take into account 2 more crucial pieces:

1. Time
2. Taxes

The only time I ever made money in the stock market required me to invest a lot of time in research before investing. Once I make those investments I should just be able to stick with them for years and so very little “maintenance” is needed. However that’s the get-rich-slowly method since we have little to no leverage of our money. So if your time is very limited this may be what’s best for you. However with capital gains around 35% your actual profits will be much smaller since when you cash in your stocks you’ll be taxed around 35% on the profits. There are creative ways to reduce that number but in the interest of simplicity we’ll leave it as-is.

When I had my rental property while studying engineering I was able to sufficiently manage my house, classes (while averaging over 21 credits per term), and racing so, though the time investment was constant and sometimes unexpected (like the time when the toilet exploded when I was a state away), it shouldn’t take over your life. Once you get 10-15 properties that’s a different story. As for taxes, real estate actually can be a great tax shelter however if you’re making money and your properties are appreciating you’re probably looking at close to 30% in taxes. I say that because capital gains on your profit will still be 35% however you have more deductions and, if you run it like a business, you can give yourself perks like business travel, laptops, mileage reimbursement, etc.

My business nearly consumes all of my time. Ironically, at the same time, I have more freedom now than I’ve ever had before as either a student or under the employ of someone else. In other words, I may have to trade a Saturday this weekend for skipping out next Friday for a long weekend but I don’t have to ask permission to do so. Overall my business is a full-time job that could still afford me the time for stock market investing and real estate speculation, but could not afford me (at this point) time for a normal full-time job. With 1-3 rental homes it’s very possible to have a normal full time job. The tax benefits of a business are so many and varied that I pay less than 20% of total income in income taxes.

If we take all of those into account here’s how our returns actually look:

1. Stock Market – (after taxes and assuming a normal full-time job) $650 or 13%
2. Real Estate – (after taxes and assuming a normal full-time job) $3,500 or 70%
3. Small Business – (after taxes and deducting the salary I’ve been offered as an engineer) – $18,000 or 420%

So even after taking into account both my time investment (which wouldn’t be nearly as flexible working for someone else as an engineer) and tax consequences, investing in a Small Business as your first step to generating wealth is the best one because it offers by far the greatest leverage. Don’t forget that my ROI for Small Business still assumes that I make absolutely no additional profit when I sell the business. Obviously I don’t plan on that happening.

To your wealth generating success, Bryan

P.S. My original out of pocket expenses for my business purchase were all lawyers fees that were reimbursed by my new business shortly after buying it which meant my inital cash investment was tied up for maybe 90 days versus the entire year for both stocks and real estate.

I’m pleased for her but I’m also annoyed because there are interview questions I wish to send her but is so much junk mail being sent to her account that I can’t possibly get answers. Maybe in November I could dive on stage or something. And no, I’m not just trying to find an excuse to get a picture with her or meet or anything. I genuinely want this exclusive scoop before someone else snatches it up.

What’s more, she broke the 1,000,000 mark on the 13th, which just happens to be her favourite number.

 
The English language, which has more words than any other language in the history of the world, today added its one millionth word or phrase, according to the site Global Language Monitor. Several phrases were in the running, including “Jai Ho,” “Slumdog,” (terms popularized by the Oscar-winning movie “Slumdog Millionaire) and “N00b,” a derogatory name for an amateur video-game player.

But the winner was “Web 2.0,” a phrase usually applied to social networking sites such as Facebook, and Twitter. (The Global Language Monitor, somewhat stiffly, calls “[Web 2.0] a technical term meaning the next generation of World Wide Web products and services. It has crossed from technical jargon into far wider circulation in the last six months.”) Since 2008, the Global Language Monitor, which is based in Texas, has been counting down its “Million Word March.”

According to the site, a new English word or phrase is created about every 98 minutes, for an average of…

[Not to be picky but wouldn’t “Web 2.0” be the 1,000,000 & 1,000,001?]

English passed the Million Word mark earlier today, June 10 at 10:22 am GMT.

Austin, Texas June 10, 2009 – The Global Language Monitor today announced that Web 2.0 has bested Jai Ho, N00b and Slumdog as the 1,000,000th English word.
Web 2.0 is a technical term meaning the next generation of World Wide Web products and services.
It has crossed from technical jargon into far wider circulation in the last six months.
Two terms from India, Jai Ho! and slumdog finished No. 2 and 4.
Jai Ho! is a Hindi exclamation signifying victory or accomplishment;
Slumdog is an impolite term for children living in the slums.
Just missing the top spot was n00b, a mixture of letters and numbers that is a derisive term for newcomer.
It is also the only mainstream English word that contains within itself two numerals.

At its current rate, English generates about 14.7 words a day or one every 98 minutes.

The English language is now being studies by hundreds of millions around the globe for entertainment, commercial or scientific purposes.

In 1960 there were some 250 million English speakers, mostly in former colonies and the Commonwealth countries.
The future of English as a major language was very much in doubt.
Today, some 1.53 billion people now speak English as a primary, auxiliary, or business language, with some 250 million acquiring the language in China alone.

These are the ten finalists for the one millionth English word, all of which have met the criteria of a minimum of 25,000 citations with the necessary breadth of geographic distribution, and depth of citations.

1,000,000: Web 2.0 – The next generation of web products and services, coming soon to a browser near you.

999,999: Jai Ho! – The Hindi phrase signifying the joy of victory, used as an exclamation, sometimes rendered as “It is accomplished”. Achieved English-language popularity through the multiple Academy Award Winning film, “Slumdog Millionaire”.

999,998: N00b — From the Gamer Community, a neophyte in playing a particular game; used as a disparaging term.

999,997: Slumdog – a formerly disparaging, now often endearing, comment upon those residing in the slums of India.

999,996: Cloud Computing – The ‘cloud’ has been technical jargon for the Internet for many years. It is now passing into more general usage.

999,995: Carbon Neutral — One of the many phrases relating to the effort to stem Climate Change.

999,994: Slow Food — Food other than the fast-food variety hopefully produced locally (locavores).

999,993: Octomom – The media phenomenon relating to the travails of the mother of the octuplets.

999,992: Greenwashing – Re-branding an old, often inferior, product as environmentally friendly.

999,991: Sexting – Sending email (or text messages) with sexual content

RAWR! Monstah!!

 This is a once-in-a-Poptropican’s-lifetime chance for something totally astounding!

ONE MILLION hits! What a milestone! And with such a milestone needs to be something great, something amazing, something nobody has seen since the beginning of Poptropica’s creation. So together the PHB Team managed to find you guys, the readers, something that would truly daze you. Are you ready?

Credits to Codien for tracking down the guy with them.
Credits to the guy that gave me the 4 different outfits. I’m sorry – I can’t remember your name. Is it Bwobby Dobby?

So, what are these outfits? To keep it simple and straight:

The PHB is giving away 20 special Monster Outfits.

All you have to do is send your name to this address:

Hahahaha! Guess who stole the competition email!
Those monsters belong to me!

RABBIT OUT!

That’s right all you have to do is send your name to our super-special competition e-mail address to win a genuine, ultimately, extremely rare MONSTER OUTFIT!

This contest ends once all 20 monsters have been given away! Winners will be announced and pictures of the monsters will be displayed as soon as this is all over.

Good Luck!

Dear Staff/Viewers,

    I am going to the beach for today. I added some new stuff to keep you guys entertained. It was some hard work,but hey,I’ve done it anyways. Well, I gotta get going before I get yelled at.

                                                                                                                                       Sincerely,

                                                                                                                        Invisible Drummer

STAFF:Try to get some more viewers,and add some new stuff while your at it!

P.S. CONGRATULATIONS TO PHB FOR ITS 1,000,000th HIT MARK!

“]

[Picture used for PHB's 1,000,000th Hits Mark

I’m sure everyone who happens to stumble upon this humble blog is already very familiar with www.waxheaven.com.  If not, please check out this great sports cards collecting blog as it truly is the greatest out there.

Today, Mario just notched his 1,000,000th visitor. As a brand new blogger, that is a mind-blowing feat to wrap my mind around.  If you have not done so already, make sure you hop over there and enter one of his great celebration contests.

CONGRATS, MARIO!!!

Hey everyone! I recently posted a Super money glitch that basically gave you money really fast! You saw as you click on the ok then the X your total money increased by maybe anywhere from100-300 coins. But thats a lot of clicking and it will get a little anyoing after a while. I have a new method that will get a you million coins even faster.  In this glitch, it is the same thing as the first super glitch

 except you play the Pizatron 3000 game in your igloo instead. you can get a lot more coins this way and it will add to your total quicker. This is just a brief explenation on how you do this:

1. Go to the Pizza Parlor
2. Click on the Pizatron game and when you get close to it click on your igloo
3. When you arrive at your igloo, if you did step 2 right, it wll ask you to play the game
4. play the game and try to get as many coins as possible
5. if you are good, you may beable to rack up about 400-500 coins.
6. Now click on “Ok” to claim your money
7. The screen will not close, so hit the X button on the top right corner
8. Now click on the “Ok” to claim your money again
9. Your money total has now gone up!
10. Continously reapeat these steps! And get rich quick!  
11. When you are done making money, Simply log off and you will have all the money you just made in the glitch when you next log on!

Hey everyone! I am happy to say i am about to help all of you penguins make the highest amount of money possible in Club Penguin. 1,000,000 coins! All you need is a little bit of patience. For this tutorial, i will be using another penguin becuase there is a possibiblity that a penguin can get banned for this. But that is just a guess we dont really know for shore.  But we arnt hacking, its just a glitch! but i dont know. Follow the steps and you will make 1,000,000 coins!

1) This part is a little tricky. Click on the bag of beans to play the game. Right when your penguin steps onto the bag of beans or gets very close to it, click on the home button. You basically want to click on the home button before you get the option to play the game.

 2) When you arrive to your igloo, if you did the above part correct, your igloo will look like this. Now select “Yes”

3) Now click on “Play Game” if you are new to the game, you may select instructions.

4) Now simply play the game! Try to rack up as many points as possible. The more points, the easier and faster it will be to get more money.  

5) Now you will recieve the coins you won. Click “Ok”

6) You will notice that when you click “Ok” the game will not exit. Now click on the X on your top right corner.

Now look! Your coins you have now just went up again by 71 coins! Hit “Ok” again, then hit the X button on your tio right corner and you will have 71 more coins added to your coins you no have!

If you continously hit “Ok” then the X button on the top corner, you will get tons of coins! Observe, I have almost doubled my amount of coins! If you do this for a long time, you could reach 1,000,000 coins!

The only way to actually get all the coins is if you log off. When you log back on, you will have all the money you acuqired from the glitch! Enjoy!

Actor Ashton Kutcher (@aplusk) became the first twitter user to achieve a million (1,000,000) followers at 6.12 UTC today.  He narrowly beat CNN breaking news (@cnnbrk) which had overtaken the Barack Obama twitter account as the world’s most popular in the last few months.  CNN became the second account with a million followers just under half an hour later . Both users had been heavily promoting their race to a million, Kutcher using UStream.tv and CNN using their own broadcast channel.  The Huffington Post carried a live counter and follower graph that looked like something from a US presidential election.

This milestone confirms a number of observations about twitter as a ‘channel’.

• On-line popularity is linked to off-line popularity – both Kutcher and CNN are hardly unknown.
• Twitter can be a broadcast channel.  It is neither the principal function nor does it reflect twitter’s flexibilty but if enough people subscribe to a feed you can ‘broadcast’ information and links. 
• Twitter works as a news feed – lots of traditional news meda are bulding large follower numbers. Group them together and you have a powerful customisable news channnel.
• Twitter is now firmly part of the celebrity PR portfolio.

For those that say that twitter is just this year’s social web fad it’s not about to fizzle out just yet.

Thanks to everyone to checked out our webpage. McSearcher.com has now seen over 1,000,000 visitors. What a milestone!

One Million

(Fully credit to dark crow 200)

Go to gift shop, Click the catalog in right bottom.

Go to 2nd page and click the 1st coffee cup on the table to get the Graduation Cap.

Go to 6th page and click the light square near the women penguins hair to get Red Viking helmet.

Close and Open the Red viking helmet 4 times to get the blue viking helmet.

Go to 8 page and click the word “FEE” to get the Blue Spikkets.

Go to 10 page and click on the purple penguins purple jacket pocket to get the Boa.

Go to 11th page and click the purple dance floor/tile in middle of 2 penguins to get the pink spikkets.

Click the Pot of gold coins to get the Pot of gold.

~Berninzon A.K.A Burninzon~

A Ensemble pode não existir mais, mas pelo menos deixou sua marca no bom trabalho com seu último jogo, Halo Wars, que em menos de um mês já vendeu 1 milhão de cópias. A Microsoft revelou que Halo Wars tem o maior número de vendas de um RTS desta atual geração de consoles, apesar de que só existem mais uns 3 ou  4, e também, 2,6 milhões de partidas ja foram jogadas na Live.

Bossk