You may have heard a lot of people saying ‘Oh, it takes money to make money’
While some would say, ‘You gotta work really hard and save a lot of money.. Maybe hundreds of thousands of dollars to actually build a business like McDonald’s!’
In today’s video, I’m gonna go over how to actually build a business if you have no money.
And if you master these three simple things, you could actually build it in a way where your upper side continues to increase and your downside decreases.
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FULL TRANSCRIPT
The problem with entrepreneurship, especially in making money online, is that it’s so easy to make money to a point where people get lazy.
They don’t actually use their imagination and creativity.
If you look back in the times before the internet existed, did you ever wonder what it actually looks like to build a business?
The first concept and the first rule of actually building a business with no money or income in this marketplace is to GIVE VALUE.
Because how much value you give out to the marketplace, that’s also how much money they’ll give in return to you.
You could tell the wealthiness of a man by the problems he solve.
THAT’S WHAT BUSINESSES ARE.
All businesses are about solving other people’s problems at a profit. It’s a win-win situation.
Start asking yourself this question: How can I add value to somebody else?
If you stop thinking about how you can make money online or how you can make $100 here and $1000 there..
And you instead go to people who have a hundred to a thousand dollar problem, then that’s how you’re gonna start thinking like a real entrepreneur! (not a want-trepreneur!)
For example, for everyone that has ever mowed a lawn. .
After mowing the lawn, you could see that it’s pretty well cut. Well if you really think about it, it would be a problem if the grass started growing.
And me as an entrepreneur, I wouldn’t have time to actually mow the lawn because of the fact that my time is much more valuable.
What that means is, you really need to FOCUS ON YOUR HIGH-INCOME SKILL.
For me, anything that pays me less than a couple of thousand dollars in an hour, I should outsource it and delegate it.
Now in terms of the lawn, it’s gonna a problem when the grass grows. So, for example, an easy solution is if someone can see the grass and offers to cut it for you for $20 to $40 dollars.
That right there is what I’m talking about!
Someone finding a problem and solving it for that person.
THAT’S WHAT BUSINESS IS.
Now let’s go over to the three ways that will help you start a business with no money!
Step #1 ASK YOURSELF THIS ONE QUESTION
If you want to make money but you don’t have any capital to invest in yourself, the first thing that you do is ask yourself the following question:
What are the problems of the people around me that I can solve?
If you guys have been an entrepreneur for a long time, you probably already understand this.
Most likely, you’ve done this in the past where if someone didn’t want to do something or they had a life or a business problem, all you need to do is go help them with that concept.
That’s when money starts to come in.
The thing about entrepreneurship is it’s the exact same thing!
You gotta find a problem out there, give that person value, and then you make money.
Step #2 LEARN A SKILL
One of the most important things to understand in terms of skills that you can learn is when you’re in business and you see someone to give value to.
The easiest are people that actually already have money because they’ll part with money faster than someone who doesn’t have any money.
You have to think like you’re in their shoes.
So instead of asking ‘How can I make $100 from them?’
Ask them, ‘What is a problem or a pain-point that costs more than a thousand dollars to them for me to solve?’
Right then and there, that’s already a business transaction.
Understand your audience and your niche by taking note of the following:
- Ask the people what they are actually willing to pay for.
- Let them identify what have they paid for in the past.
Once you’ve done that, this will help you pinpoint the specific skills that you need to actually learn to start increasing your own personal value so that you could solve higher-tier problems for people!
Remember, HOW BIG THE PROBLEM IS, IS HOW MUCH YOU’RE ACTUALLY GONNA GET PAID FOR.
Why does Jeff Bezos, Mark Zuckerberg, or Elon Musk worth billions?
It’s because they solved a billion-dollar problem. That’s human connection, SpaceX and Tesla.
They’re battling with billion-dollar problems!
The problem with most people is they’re only focusing on $10 – $1,000 problems.
That’s why you have to learn a skill!
Now one of the main skills that you could actually learn when it comes to business is this:
GETTING GOOD AT MARKETING
I’m talking about Facebook ads, copywriting, YouTube, SEO, and getting good at closing a sale over the phone.
(i.e. One of the guys who is on our success coach team closed 68 grand just within 48 hours, that’s what I’m talking about).
Learn a skill where it’s very valuable to someone who actually has a problem with!
You gotta understand that one of the biggest things when it comes to huge businesses is they suck at marketing and sales.
It’s crazy because all of them need those two things in finding innovative ways to serve their client.
Worse, they have no idea how to actually serve those clients and they just want to squeeze in more profit.
The fastest way to make money is understanding that you could actually create value out of nothing by dropshipping connections.
Back in the day, I used to dropship products.
What that means is, I found somebody who wanted a product and then I found a supplier, so I connected them. I was basically the middleman, and I profited from that.
Sooner than expected, it progressed. I begin making money out of digital products.
For example, there was a time when I found someone who wanted web hosting. So what I did was, I look for a supplier that actually had web hosting. And I profited from it.
I just came back from a huge mastermind event in Thailand where there were a bunch of people. A lot of them had businesses that were doing around 30 to 40 million dollars a year in the meditation niche.
There was also another guy there who I’ve learned a lot from. This guy has a huge network in Russia.
But here’s the craziest thing!
He took Tony Robbins and he literally “dropshipped” Tony Robbins to Russia!
Now here’s the country that actually has this need for a personal development guru.
HE JUST KNEW TONY.
Then he literally dropshipped Tony to Russia!
Understand this guys..
The real money right now is in dropshipping connections! That’s what I’m talking about.
It’s about creating value in terms where you don’t even have value yourself.
That’s what I would do if I get started and I had no money. I would immediately find somebody that had a problem and I would immediately connect them with someone that has a solution.
In turn of that, I’m like brokering the deal and I’ll get like 10 or 20% of the deal!
If you think about it, it’s a win-win because that person didn’t have their pain-point solved without you.
That person didn’t have the clients that actually needs the solution he could provide. All you’re doing is kind of dropshipping the solution to the person that actually has a problem.
Here’s the biggest thing for this second point: There are so many things in your life that you could connect. It could be products, it could be digital assets like web hosting or affiliate marketing. Which leads me to the last step.
Step #3 FIND STRATEGIC ALLIANCES
The third thing and the most important thing is finding strategic alliances with people who share the same client.
Here’s another story of someone creating value from literally nothing. .
There was a consultant who back in the day, went to China and he was doing a convention.
What happened was, there was this Chinese guy who said ‘Hey! I need money to start my business’.
But here’s the problem, most people who want to start a business actually don’t need any money.
This is what the consultant said, ‘Listen. You don’t need money. You already have the skill. All you need to do is to go to a non-competitive marketplace that shares the same things you want and do something where you combine efforts. Use their underutilized resources.’
So a year passed and what happened was that same Chinese guy came up, except that he was wearing a nice suit.
He was looking good, because apparently, he followed the guy’s advice.
And he said, ‘I actually followed your advice. I was initially wanting to raise money so that I could start a motorcycle company in China.
But instead, what I did is I took my toolkit. I went to Kuala Lumpur and I found a lawn mower business (back to l what I was talking about mowing the lawn) that had an underutilized resources.’
They had all the equipment that it would take to actually build motorcycles and they had staff that wasn’t even being utilized for the second ship.
And here’s what he did..
He just came with his tool kit and said something like this, ‘This is what I could do. I see all these underutilized resources. Why don’t we just partner up?’
Within the first year, THEY MADE $10 MILLION PROFIT.
That’s one person who had no money but high-value skill that was building the products that actually served the client.
They split half of that $10 million.
Remember, he didn’t have anything to begin with guys. He literally didn’t have any money!
A lot of you guys are struggling or probably you’re looking up and you’re thinking, ‘Man, that can never be me’ or ‘I can never be successful. That guy is too confident or that person was born rich or that person had it easier..’
But guys, what you gotta understand is, you don’t need any of it. You don’t need resources.
You could be Jack Ma, a broke immigrant in China that got rejected from KFC.
But all you have to understand and need is for you to see the world not just a zero-sum, not just you versus the world but in collaborative efforts.
Jack Ma doesn’t even know how to build a website, yet he created Alibaba, one of the biggest manufacturer websites in the world that actually owns no inventory.
All he did was to find smart people who want to work together, he made them work together and made sure they don’t fight.
It’s the exact same thing with strategic alliances and it’s the exact same thing when you want to make deals with businesses. ALL YOU NEED IS TO WORK ON SIMPLE SKILLS.
And once you figured that out, you can create the life that you want and the freedom you want.
Not only that, but you will destroy any income cap that’s crouching on your dream!
So guys hopefully that helps.
I’ll see you on my next blog!
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