Last Updated on September 13, 2020 by joseph
Long story short, are the clear and concise bullet points, actionable steps and explanations in this post:
1) No one is going to hold your hand to obtain real money. If there is real money involved, the guy would go after it himself. If someone claims that they will “teach” you how to be rich. They are full of it. This is a great sales slogan but is far far far away from reality. No one can teach you. At most they can give you guidelines. Even then… Get a legitimate mentor who is willing to spend *real time* with you.
2) The basics of a business will always be the same. Find a product that people need (pain or pleasure, pain usually sells better: diet, skincare, “get rich” schemes) and drive massive amounts of traffic to the item.
3) Before you get all hyped up (a term used frequently by idiots) test the product first. Throw a few grand at the targeted audience and see if it is in demand or not. If people aren’t willing to buy, move on. If people do buy… flood that market as fast as possible. Push as much traffic as possible until the long term value of the customer equals the cost of acquiring the customer. Then reassess. Remember, it’s a money making machine as long as you are generating net income.
4) While it always “depends”. A typical answer for people who don’t want to answer the question. It will cost roughly $50K to start a meaningful venture. This also explains why most private equity investments require a minimum of $50K to get started and $25K is generally the number for angel investing.
5) Similar to your 20s… 70%+ of your money is going to spent on making… more money. Grow or die. No other choice.
6) If you are never able to sell and never able to scale… you can become “well off” but you will NEVER be rich. You need to make money in your sleep to generate real wealth.
7) You don’t want to be famous. You just want to be rich. Who cares about approval from regular people? Not you. If you must become public… Good luck and much respect from this side of the web.
One little extra piece of advice… When you get to your numbers… Learn to play dumb. Be extremely dumb. Seem harmless. Only go all out when you need to go all out.
Until then? You sit, you wait, you gather information.
When you *appear* to be following a person’s advice… They like you. Works every time.