Do you know the primary difference between SpeedWealth entrepreneurs and average business owners? T. Harv Eker’s SpeedWealth – How to Make a Million Dollars in Your Own Business in 3 Years or Less. Part 7 Each month, TheNetworkMarketingMagazine.com will be bringing you a complimentary article from the newly updated edition of T. Harv Eker’s bestselling book, “’SpeedWealth’” – How to Make a Million Dollars in Your Own Business in 3 Years or Less,” which outlines 8 principles that will help you massively grow your business.
One of the primary differences between SpeedWealth entrepreneurs and average business owners is the former start with the end in mind. From the beginning, they are planning on cashing out of the business.
If you follow the SpeedWealth system to the letter, in three to five years, you will have four enviable choices: NULL
1. You can keep the business, continue to work “hands-on,” and make a huge INCOME. 2. You can keep the business, and cash out your TIME by delegating the day-to-day affairs, and make a huge PASSIVE INCOME. 3. You can sell all or part of the business and become an INSTANT MILLIONAIRE. One way to cash out a portion of your ownership is to go public with the company. 4. You can create a combination of all of the above.
In any case, you’ve hit the jackpot! But I’ll share a little secret: You will never make as much money running a business as selling a business!
So what do buyers want? Primarily three things: profits, the continuation of those profits, and the potential growth of those profits. Regardless of how you’re going to cash out, it’s critical to learn the key factors that determine the value of a business for the purpose of selling. Some people would say NET PROFIT is most important. But in my experience, GROSS SALES are just as essential. Another key selling factor is, “who is buying your company?” You want to deal only with large, successful corporations that are accustomed to paying top dollar for everything. CASHING OUT, be it by selling all or part of your business, is the crowning jewel of the SpeedWealth system. It’s what allowed me to go from zero to a million in only 2 1/2 years, and why I’m confident that if you follow the SpeedWealth system to the letter, in 3 to 5 years, you can be a millionaire too! To read the more on this principle, and all 8 SpeedWealth principles, get your copy of the entire book for FREE by going here >> https://mmi.infusionsoft.com/go/sws/mmi19562/
- SpeedWealth Principle #8: Do It Now by T. Harv Eker - July 1, 2012
- SpeedWealth Principle #7: Cashing Out by T. Harv Eker - June 1, 2012
- SpeedWealth Principle #6: Leverage by T. Harv Eker - May 1, 2012