How To Build Wealth The Family Way
So you want to know how to Build Wealth The Family Way? Creating True Wealth is a Journey. Understanding the Journey will allow you to grow at your own pace and eventually it will allow you to find your own level.
What do I mean by “Level”. Look, the hard truth is that not everyone is cut out to be wealthy.
My Brother, Big Fat Tony, when he was younger, worked very hard and made hundreds of thousands of dollars in Real Estate. When the financial crash hit, he went belly up, no pun intended. Fat Tony found himself in a second-floor, 2 bedroom apartment. Depression set in. His family tried to break his funk but they eventually gave up.
When I would talk to him he often mentioned his downstairs neighbors. The husband and wife both worked 40 Hour Weeks.
Fat Tony thought about how small their lives must be. They had dinner every Friday with her parents. Saturday night they went to their favorite Bar or Night Club with their friends. On Sunday it was to Grandma’s for Dinner. Every summer they spent 2 Weeks at the Family Cabin.
Year after year they continued to live their “Small Lives”. Fat Tony said, “if that happens to me, just put a bullet in my head and forgetaboutit”.
You know, to a lot of people, their “Small Lives”, sounds pretty good. Many folks would be satisfied to have a life like this. On the other hand, many people reading this want something more.
This Special Report and its Parent Website are built to help you live your life, no matter the size of your dreams.
Through years of study trends and helping both successful, and unsuccessful companies, I have boiled down the Wealth Formula into a simple 6 Step Process. This Process can be Scaled Up or Down to meet your needs and to the level of success you want to reach.
I hope you enjoy the information that I share in the special report.
Guido Coguts, Owner Guido’s Family Business.com
Understanding the Ways of Making Money:
There are only 2 methods of making money. Method 1: Exchanging your Time for Money and Method 2: Making your Money work for You.
My 30+ Years of helping businesses and tracking trends, I have boiled down the skills of making money into 4 Types of Money Makers.
Method 1: Exchanging Time for Money
Most folks are perfectly happy, busting their hump for an employer. They freely exchange their Time for Dollars. As long as the Employer is Successful, the Worker feels satisfied and secure. Some folks need this type of security, others could care less. Being a worker should never be frowned upon by anyone. There is a certain dignity and purpose to work.
When you choose to be a “Worker”, there are only 2 paths to go. You can be there just for the paycheck or you can give it everything you have. Your Employer may or may not notice your hard work.
A kid from my neighborhood, Joe Bagadonuts, worked for a company that was like that. He was assigned the “Floor Care Team”. He always complained about the supervisor always being on his ass. I suggested that he learn everything he could, about floor care. That way the owner would send him out to work on his own. In a few months, he was heading up his own crew. As long as Joe’s crew delivered, the boss stayed off his back.
What changed Joe’s mind? I told him if he was to work Shampooing Carpets and Waxing Floors, he should be the very best. I told him that Cleaning Carpets and Waxing Floors paid for my college tuition. I told him to use his “Worker Job” to learn a new skill or trade. The skills and knowledge he learned there, one day, may become a money-making business.
Tired of making money for someone else the boss decides to strikes out on his own. Moving from Employee to Boss is really a hard move unless you are prepared. The biggest mistake the Boss makes is trying to take customers from his previous employer.
As I mentioned before, all through College, I worked nights as a Janitor to help pay my tuition. I would start on the 10th Floor and run the carpet cleaning machine doing 1 floor a night. At the end of 2 weeks, all the rugs had been cleaned. Then I would start stripping and waxing the classroom floors. I could do 2 Rooms a Night. When that was done, I would start Stripping and Waxing the Bathrooms and Vending Machine Area Floors.
My mother ran a house cleaning Side Business. She had requests for Carpet Cleaning but because I worked overnight, I couldn’t clean carpets any day except Mondays. I was booked almost immediately. I purchased a floor buffer, extraction machine, pads, wax, mops, and buckets.
I was booked solid for months. I was making almost as much money cleaning carpets as I was working as a janitor. I decided to quit my job and focus on carpet cleaning. I was working every day, and the money was pouring in. My mother suggested I start my own Carpet Cleaning Business.
She never wanted what I wanted for her business. I thought she could have multiple Crews and Vans and Corporate Customers. She wanted a couple used Ford Escort Cars and a handful of stay at home moms/maids working for her. It was time for me to become a Business Owner.
Method 2: Making your Money work for You
The Side Hustler
Always looking for the Easy Button or Side Money. The Side Hustlers are driven to make their lives better. Most Side Hustlers have tried several “Time Tested” ways to make a few extra bucks. Unfortunately, very few Side Hustlers plan past the initial start. Failing to make a business plan, because they don’t see their “Side Hustle” as a real business.
In my Senior Year of High School, 2 friends from the neighborhood and I decided to start a Mobile DJ Business. Each of us had our own jobs. Renaldo, had an extensive record collection, he was in charge of the music. I always felt comfortable talking on a microphone, so I was the DJ. Bobby Kaboom, my other friend, was forced, by his mom, to take dance lessons all through grade school. He was the one to lead dances and get the people up and dancing. We offered a unique DJ Service.
We got our first gig, a 25 Year High School Reunion. The event was a huge success. We worked together really well. The Hotel asked if we could come there every Saturday Night and offer entertainment in their lounge. A handful of Reunion Guest wanted to book us for Birthday and Anniversary Parties.
That was the First and Last Gig our Mobile DJ Business ever had. We never planned past our first gig. Failure to plan lead to our doom. No telling where we would be if we had only planned.
The Business Owner
Offering a Viable Product or Service is what Business Owners do best. Reluctant Business Owners are often overwhelmed by the scale and magnitude of paperwork. They forget to file forms and pay proper taxes. Some end up going out of business, by forgetting to pay payroll taxes, insurance or state sales taxes.
Most Business Owners have trouble identifying their skills and think they can do everything. The Most Successful Business Owners hire support staff to help them succeed. Those who think they can do everything will eventually fail.
When I left my mothers house cleaning business, I had just graduated from college with a Business Degree. This time I built a business plan and I went from The Boss in my mother’s business to become a Business Owner. What a leap. I never realized how much work would be involved in starting a business. From licenses and insurances. My mother gave me her Accountant’s name and her Lawyer’s number.
I continued to work the residential referrals my mother gave me. At the same time I concentrated on Commercial Customers. In no time I was overwhelmed. Too many customers. Everyone wanted me to do the work, not some guy I just hired. Many times the people I hired didn’t care about their work. They were just there to collect a paycheck. I thought that if I paid a higher wage, then my competitors, I would get better workers. I was wrong. It just made it easier to fire the ones that didn’t care and disrespected the customers. I ended up selling my Commercial Cleaning Contracts to a local company.
I kept one set of equipment, just in case I needed some fast cash. 3 Years later I sold them, never having used them during that time.
The Silent Partner
The Silent Partner is vital to almost any business. The TV Show Shark Tank gives you an example of what a Silent Partner is and does. A good Silent Partner brings more than just money to the deal. You often hear Damon John or Mark Cuban turn down a deal because they know nothing about the business or industry pitching them an Opportunity.
The best example of a Silent Partner going wrong is the movie, Goodfellas. The owner of a restaurant is the favorite place for the Gangsters to hang out. They Eat and Drink but never pay their bill. They run up a huge tab. Over time the owner confronts the Mob Boss who can’t do anything about his men’s behavior.
The Restaurant Owner suggests the Mob Boss partner with him. His logic was that the Mob Boss will help him collect past due bills. He thought, surely they won’t steal from their “Boss”.
The Mob Boss right hand man takes over day to day operations of the restaurant. Instead of building up the business he does just the opposite. He orders food and booze, and resells it to other restaurants, keeping all the cash. The purchases were put on the Restaurant Owners Account. In the end, the Restaurant Owner is forced to sell his restaurant and home to satisfy his debt and the Mob Boss walks away, pocketing all the cash. They end up burning down the restaurant and keeping the insurance money.
Before you choose a Silent Partner, make sure its someone who brings more than money to the party.
Last Bit of Advice Before You Start: Stay In Your Lane
Before you start your journey to Wealth you need to define what “Wealth” means to you. Perhaps having time with your family you consider wealth. Maybe you define wealth as better health, travel, money, or a luxury car. Wealth means many things to many people. Look for your goal using one of the Methods of Making Money.
Before you begin your journey, we need to find a level the playing field, so the level of success is scalable. If you want to move from one path to another. The only true level playing field is the Internet. This Wealth Guide is centered around the internet and making money online.
Starting Your 6 Step Journey To Wealth
Step 1: Identify a Problem
Every Niche Idea and Hobby comes with its own sets of problems. Grandma said that problems are like buses, one will come by every 20 Minutes. The best place for you to find a problem is for you to look in your own backyard. Finding a problem is the first part of your journey.
I have a hobby. I liked watching the Gold Prospecting Shows on TV. I always liked prospecting for gold since I went prospecting in Boy Scouts over 40 years ago. With the popularity of Gold Prospecting, I realized that very few Equipment Manufactures knew how to build websites or optimize their websites. I decided to offer gold prospecting equipment online, for companies that had little or no internet presence.
Step 2: Find an Affiliate Product
Many companies will be happy to pay you a commission to promote their product. I was making well over $1000 a month in commission for promoting some else’s products or services.
As the popularity of Gold Prospecting grew, TV shows that featured Gold Prospecting also flooded the airwaves. Soon as much Air Time dedicated to Gold Prospecting rivaled that of NFL Football Games. I was making over $350 a week in commissions.
Step 3: Build Your Own Lead Magnet
To bring customers to your website you will need to offer something of value that is free or low cost. I created a Gold Prospecting Guide that talked about the different types of equipment you use, as well as tips and product reviews.
My Resource Guide also listed the clubs in their area. I also created Finding Gold Guides for 10 different states. I put these on Amazon and still get monthly income from them 8 years later.
Step 4: Create A Landing Page
A Landing Page is a great way to promote your site and collect email addresses from warm customers that you can promote offers to. WordPress is an excellent and free way to build landing pages that convert really well.
There are many Free sites that you can create using WordPress. YouTube is flooded with video training for WordPress, so getting help is only a click away.
Step 5: Create a Thank You Message with an Email Auto-Responder
Once the customers give you their email for your Free Offer Lead Magnet, you will need to send them a Thank You Message promoting your Affiliate Product. I would link my Free Gold Prospecting Guide to a piece of Gold Prospecting Equipment that paid pretty good commissions. I was making over a thousand a month in commission just from my Gold Prospecting Website.
I created 10 Gold Prospecting Emails that featured Gold Prospecting Equipment that paid me a commission. It was an automated process. When someone got my Gold Prospecting Guide I would mention to them something they may find useful, just added to my website. I would also tell them about a review of a Cool Gold Tool that they may find interesting.
Step 6: Invest In Advertising and Promoting Your Lead Magnet
Now once you see that your site is generating some revenue, try different ways to promote your Landing Page and your Lead Magnet. I ended up creating 2 Gold Prospecting Tools and added them into my 10 Gold Prospecting Emails.
This skyrocketed my sales for that site. Sometimes I would generate over $3500 a month in Revenue over $3000 in Profit and this was on Auto-Pilot. You can do the same if you try.
BONUS 7. Never Stop Trying Something New
I have built hundreds of websites, some for myself and some for customers and friends. You never know how easy making money on the internet is until you try. Over the past 20+ years, I may have sold well over a Million Dollars in Products Online. But I would be doing a disservice if I told you every website I built was a money maker. Some were real dogs that just laid there and did nothing.
Every website that you put online has a chance to put thousands into your pocket or take thousands out of your pocket. The key is knowing when to quit. I have a site that averages over 100 Visitors a Day. No matter what I sell on that site, no one buys. I have been carrying this site for several years now. Until I can find the right product to sell it would be a shame to throw 30,000 Monthly Visitors in the trash.
Making Money Online is pretty simple if you have a road map. I am the only site that gives you what you need to get started. I am so confident that my system works that I am willing to give you this very special offer.
When you visit my website you can access my 1 Page Business Plan. Just fill in the blank and hit submit and your Business Plan will be emailed to you. Print it out and keep it hand to keep you on track, If you think that offer is special then you may want to become a Member of my Make Money Online America Website for only $7.00 then Click This Link.