How To Buy A Business For Just One Dollar!
If you knew how to buy a thriving business for just One Dollar would you do it?
If you have ever thought of working for yourself this information will help you choose the right business model.
I will share how many of my students have bought businesses for as little as $1.00.
In fact, this just happened to one of my Business advisors as I am writing this article.
This advisor has now bought a $250,000.00 business for $1.00 (not bad)
Before I explain how he accomplished this I would like to share A new study with you.
It revealed that 70% of people are worried about losing their job in these uncertain times.
I mention this because I want to remind you that you control your future.
Many people forget their personal power.
The first step is to just get clear on what you want and get serious about it.
You Can Control your Future!
People are starting to realise that if they want to provide for their family they need to develop new skills.
When you develop the skills of Business you will always have the ability to generate money at will.
This means that you can never stay broke or have to depend on someone to hand you a paycheck ever again.
As you probably know I have helped many business owners create successful businesses.
Occasionally I even take on a handful of people and help them build Six and Seven Figure Business Consulting Practices of their own.
How To Buy A Business For $1.00
Now, when my clients learn to be business consultants one the obvious benefits is that they know how to create successful companies of their own which brings me to the story of Harvey.
Harvey is now a Streetsmart Business Consultant, and one of the key things I teach my consultants is to ask for a small piece of the upside of any business that they help improve. It could be anything from 1% – 15% of the upside depending on the profitability of the industry.
So Harvey takes on a client that is in the virtual reception industry and, the sad fact is that if Harvey had not started helping this businesswoman it is more than likely she would be out of business now.
Well, Harvey started implementing the business optimisation systems that I teach and within about 2 months he had prevented her going out the back door and had improved the profitability by close to 200%. Not bad.
After experiencing the benefits that Harvey was achieving, the client obviously wanted more and so made an irresistible offer to Harvey where he purchased a large part of the company for just $1.00 and in addition also receives a retainer for helping the business improve.
So why is this possible and why does it occur with great frequency?
Let me share a valuable secret with you.
Why You Get Paid What You Get Paid!
The reason people earn what they earn is because of the perceived value they offer to society.
Let me give you an example:
A registered Nurse that is trainedfor 3 years to save lives earns an average income according to Payscale of $72,000.00
Whereas a Barrister makes around $150,000.00
Why is there such a difference?
Well, a nurse saves lives so you would assume that they earn a much higher income, however, society does not look at it that way.
They perceive that a nurse provides the love and care because of their devotion to the human condition and are self-sacrificing, so of course, they will work long hours to care for you and money is just a side issue.
Now look at a Barrister. They prevent you from spending the rest of your life in jail, so the perceived value of having a great barrister is HUGE!!!! (if you are a naughty person)
You will pay them whatever you can afford to keep you out of trouble.
Rightly or wrongly this is how you are rewarded financially in life.
If a Business Consultant has the skills to:
- Create great lead generation systems
- Develop amazing sales conversion systems
- Improve the efficiency and systems in a company
- And potentially help the business owner generate millions of dollars
What do you think a business owner would be willing to pay?
That is why many of my Streetsmart Business Consultants make mid-six and even seven-figure incomes.
What Business Consultants Do!
Knowing how to buy a business for one dollar is just one skill our Business consultants develop.
They also learn how to:
- one on one consulting
- Do group workshops
- Sales Training
- Virtual Business Consulting
- Buy Build and Sell Businesses
- Marketing services
- Preparing Businesses for sale
- Free Publicity Campaigns
and I am only touching the surface.
When you think about all of the skill sets we develop over time Business Consultants become pretty awesome money-making machines for themselves and others.
So, coming back to the theme of this blog.
When you are thinking of buying a business, it does not need to cost you hundreds of thousands of dollars for you to generate a mid six figure income.
You just need to find the right business vehicle.
How To Choose The Perfect Business!
Now I promised you that by reading this information it would help you select a great business model.
So here is my Four step checklist!
- Maths – Make Sure that the business you choose has great margins that are not being squeezed by the competition.
- Psychology – Make sure that there is a huge demand from the market for the goods or services that you offer
- Lifestyle – Make sure that you understand the effort and hours required to build up the business. (eg Bakers nad Restauranteurs make many sacrifices of time to succeed)
- Capital – How much do you need?
(eg: Mcdonalds will need a minimum of $1,500,000 for you to make around $150,000.00)
Look carefully into these four areas before choosing your business it will help prevent you getting into the wrong business.
To help you get more clarity on your future business and your life you can use this clarity quiz . https://quiz.streetsmartbusinessschool.com.au/
Now for my shameless plug.
If you like the idea of building a Six or Seven Figure income helping business owners succeed.
If you are wanting a business vehicle that requires little capital, no staff , the highest margins and little overhead.
Then click the button below and talk to me about the amazing world of Business Consulting.
To learn how Streetsmart Business Consultants do a real Business Turnaround Click Here