Create an Opportunity
You can make millions from other people’s ideas.
What if you just can not think of a tried and true business to start and make your $1,000,000 in 3-7 years? You could try what Gabriel does, but it takes some skill. Gabriel has a unique business model that he calls a Business Incubator. His website can be found at www.TechStudios.net. This is not to be confused with a traditional business incubator where startups usually move into a shop. In this setting, they have mentors and peers to help them to try and grow their business idea. Gabriel does it all for you, he takes your idea and flushes it out.
Often, people have a business idea but they don’t know how to start, how to get the money, or more often just does not have the time. Gabriel will get the company started and tested. He will put the plan together, assemble the team, find the means to finance the operation and run the company. He will be paid a fee for this. Besides his fee, he usually retains a small interest if it is bought back by the idea generator. His company motto is “Ideas taken to execution.”
He will negotiate with the original idea generator a buyback agreement before they start. The idea generator can buy it all back later if he wants the whole company or whatever they have negotiated. In one sense this is a variation on asking your friends for ideas, except he lets clients bring ideas to him. Plus he gets paid to develop their ideas.
Be Sure It Can Make You a Millionaire
If it is your idea or if you develop someone else’s idea, be cautious to not just do anything to make money. Do things that lead to making enough to make you a millionaire. Decide on a business that will have the kind of cash flow and net profit needed. The goal is to make you enough to save $1,000,000 in 3-7 years. Do your research, make a business plan and get advisor help. Of course, you may need partners for the money to start and grow your idea. But a good plan and your own confidence can get you the money you need.
You can also find your way to the door of opportunity.
In my interview with Gabriel, he agreed with me wholeheartedly. Gabriel said that almost any business can get you to $1,000,000 with good execution, sales, and marketing. Get your head in the game…………..start your planning today to be a millionaire in 3-7 years.
Get the Book
Michael L. F. Slavin Author of 7- time award-winning One Million in the Bank: How To Make $1,000,000, Even If You Have No Money Or Experience
Live Your Dream
Do you want to live your dream? Most people dream of happiness, freedom, and the ability to do the things you really want to do. Most people do not dream of having a stack of money, or dream of a bank statement that shows you have $1,000,000. Having $1,000,000 does not guarantee anything, except that you can say you have $1,000,000. But being a millionaire, and being careful and responsible, allows all the other things to happen more easily. In many cases without good financial resources, many people are stuck in a life they wish was better.
Opportunity is everywhere, we all know that, but then why hasn’t everyone made $1,000,000 yet? I have covered so many stories of people doing it with regular businesses everywhere. They are not extra smart, definitely not richer, and they don’t know the secret handshake. Opportunity is there, but you must take action. Recently in my Google+ Community, a man complained he had no head for business and has failed twice. I told him, his feeling that he has “no head for business” really was just not having the experience and training. I told him if he thoroughly researched his next business, identified his weaknesses and strengthened those areas, and also sought advice and help from others like the SBDC and SCORE-he might then just have a very good head for business.
So many people take off half-cocked or not cocked at all. Just settle down, get started and systematically get ready, then start your business.
Don’t Pass Up Low-Risk Opportunities
This may not be a good example of a thorough plan, but it is for grabbing an opportunity for with low risk. What if you saw a school bus for sale on eBay for $350?
The $350 School Bus!
Drive Fron Maine
Would you buy it? I know of an individual always looking for business opportunities, Gabriel. He saw a bus for sale for $350, the ad said it was old but operational. He bought it sight unseen then found out it was in Maine if he wanted it, he had to go to Maine and drive it back to Texas. That is exactly what he did. On the way back he noticed an old Pizza Hut was selling its furniture He pulled over, bought several pieces for next to nothing and loaded it into the bus. He was thinking what a great way to redo the interior of the bus. He was already thinking of fixing it up and reselling it, or maybe rent it out as a party bus.
The whole trip was a great adventure and would give him some great memories. But on the trip, it gave him a lot of time to think about how to use his new bus. He did notice on the way back to Texas that the bus had a pretty good smoke trail coming out of the exhaust, he knew he would have to take care of that too. A new muffler cost more than the bus but it had to be replaced. The total cost of fixing it up to rent out was about $3,500.
Now a Party Bus!
He now rents it out for $450/night, 5-8 times/month and gets referral fees for when he is overbooked.
This is just another example of keeping your eyes open for opportunity and taking a small calculated risk as a way to make some extra income to help you get to $1,000,000 in the bank.
Create an Opportunity
Even more unique is Gabriel’s business model as a Business Incubator, which can be found at www.TechStudios.net. His company motto is “Ideas taken to execution.” If someone has a business idea but does not know how to start, how to get the money, or how to find the time, he will get the company started and tested. He will put the plan together, assemble the team, find the means to finance the operation and get the company going.
If you have an idea, look for help from SCORE, SBDC, or a consultant.
The original idea generator can buy it all back later if he wants the whole company. In one sense this is a variation on asking your friends for ideas, to be discussed later, except he lets clients bring ideas to him and gets paid to develop their ideas.
Live Your Dream Boldly
You have to be cautious to not do just anything to make money; you must do things that could lead to $1,000,000. Gabriel will admit his party bus will never make him $1,000,000. Maybe it possibly could if he got more organized, and maybe located party buses in different cities or maybe even franchise the idea. But he really did not want to pursue it. It is best to decide on a business that will have the kind of cash flow and net profit needed to make you enough to save $1,000,000. Do your research, make a business plan and get adviser help. Of course, you may need partners for the money to start and grow, but a good plan and your own confidence can get you the money you need.
Find Your Way to the Door of Opportunity.
In my interviews with people who have become millionaires from nothing, I agree wholeheartedly that almost any business can get you to $1,000,000 in the bank with good execution, sales, and marketing. A solid plan well researched and yet keep your eyes out for low-risk opportunities. Get your head in the game…………..start your plan to save $1,000,000. Allow yourself to live your dream.
Get One Million in the Bank today for yourself or someone you want to help. Also, I appreciate your comments and sharing the post if you liked it.
Michael L. F. Slavin Author of 7-time award-winning One Million in the Bank: How To Make $1,000,000 With Your Own Business, Even If You have No Money Or Experience
Grinding Out $1,000,000 Part II
Part I Summary
In Part I you met Gary, struggling to make his business work. Then he got married and his wife proved to be the best business partner he could ever have. They slowly grew the company and saved their money. They became millionaires by grinding out $1,000,000 almost one dollar at a time. (click here to see Part I) (more…)
Grinding Out $1,000,000 Part I
This is a story that many of us can relate to in one way or the other. Gary grew up in Ferdinand, Illinois. His friend was a little ahead of him and finished a 2 year degree in air conditioning and got a job right away. So Gary did the same. Once he graduated, he took a trip with a different friend of his to Houston. (more…)
Do You Have a Business In You?
I am talking to people all the time. I always turn the conversation to their goals and what they want out of life. I ask if they ever thought of owning their own business. They usually ask why and I mention my book, website and that I feel anyone with a desire has a great chance of having $1,000,000 in the bank. That always gets the conversation going. (more…)
Dropout Food Truck Millionaire Part II
Summary of Part I
You need to go back and read Part I. Not only will you see how Joe Woodel turned his life around, but you will see how he financed his business with very little money and a lot of creativity. He gives you a model to pattern. It is not a get rich quick plan, it took a lot of hard work for Joe to put himself in the position he is in now to have great success.
(click here to see Part I)