- Millions of new millionaires
- Is this the future of home entertainment?
- What are you excited about at the moment?
Thing 1 - Millions of new millionaires
If you had a dollar for every person who became a millionaire last year, you'd be a millionaire too. Doesn't sound right? But it is.
And if millions can do it every year, you can do it too, right?
(If you already are, congrats!)
90+% of wealthy people own a business, but 60% of businesses fail in their first year. If you don't already own a thriving business, what should you do?
- Just create the business and don't fail, doh.
Thanks for nothing, Z...
- Buy an existing (small) business with a track record, that's making money.
(I just leaked my to-do list for the next few years... Wanna get in on the action? Reach out.)
Why would anyone sell you their business?
And why would you want to buy it?
I walked around the old neighborhood mall a few weeks ago and noticed that about 70-80% of units now host a different business than a few years ago.
This is just a reflection of the churn that happens in the markets. Businesses close. New open.
Some close because they are doing bad. You don't want to buy those.
But some close for other reasons and they aren't aware that they can sell their business instead. That's where you can step in and help. Win-win!
Some of those reasons:
- Owners are tired or burnt out
- Looking to retire
- No successor or transition plan
How does buying their business help?
- Previous owner gets to step down
- Previous owner gets some income from the deal
- The community keeps the service your business is providing
- You get extra income
It's not glamorous. It's not sexy. But it helps people, it brings value, and it makes you predictable money.
Money doesn't solve all your problems. But it does solve your money problems.
Thing 2 - Is this the future of home entertainment?
Technology allows experiences to be more and more personalized.
Disney just released an AR (augmented reality) experience that brings magic into your living room.
The whole experience is an 8-minute film you can watch through an AR app that allows you to scan your TV and see it extend into your space.
This is the first experience of this kind on this scale. What do you think? Does it have legs?
Perhaps through AR/VR goggles instead of your phone, as the technology matures?
Thing 3 - What are you excited about at the moment?
There is no passion to be found playing small, in settling for a life that is less than the one you are capable of living.
- Nelson Mandela
The really cynical person and the really docile person have one thing in common: they never make a bold move.
- Balaji Srinivasan
Time passes anyway. Why not spend it doing something that makes you excited to wake up in the morning?
I'm so excited about sending you 3-in-3 every week that I stay up way past my bedtime 😜
Now I need my beauty sleep. Till next week!