Basic Mathematics, Folks...Does It Make Money on Paper Or Not??
It would take me less than 3 minutes to tell you that Milkshake Mania was a crappy business idea, destined to be an instant failure right out of the gates. And this is WITHOUT access to a calculator. (In the interest of full disclosure, I suck at math and had to have a tutor to get my business degree because I kept failing Finite Mathematics.) If I actually had a calculator, I'd give you some VERY ACCURATE NUMBERS on most any business idea or investment. Even more "alarming," these numbers would only be off by a maximum of 10% and, in most cases, much less than 5%.
So, if you were to come to me with this hair-brained Milkshake Mania idea, this is how I would have instantly broke the numbers down to you by asking you one thing:
"How much is your monthly rent on the unit?"
The answer: $3.20 a square foot so...$3,200 a month for 1,000 square feet.
Then...
"Average sale?"
How much can you possibly charge for a milkshake? Maybe $4? Or $5 if you shake gold dust on top of the whipped cream?
This means that at $4 a pop, you'd have to sell 800 milkshakes just to cover your rent. Forget about covering electricity, your phone bill, any employees, insurance, supplies, raw materials, etc.
And selling 800 milkshakes for rent money...that's just not viable, feasible or doable for that type of severely limited local business structure, especially without any type of marketing in place (since you wouldn't have the extra cash to advertise at this point).
Those very simplified numbers alone should be enough to talk you out of this hair-brained business plan in the first place. If not then...you have much more deep-seated issues going on that has little to do with your lack of being able to operate a cheap calculator and you may just need that trip to the shrink to see WHY you need to make milkshakes all day to live out some type of sick illogical ice cream fantasy you may have.
Two Types of Businesses I'll NEVER Do: Local and Retail
I almost fell for it: the lure of the sports bar business. This would have violated my 2 rules of getting involved in a local retail business. And the only reason I overlooked the rule was because of my ability to market and my ability to make the business gross anywhere from $7 to $10 million per year. So, the cash flow alone made me want to overlook my own rule BECAUSE THE NUMBERS WERE THERE.
That's the key. CASH FLOW. The cash flow and the numbers were present, making it a possibility to overlook the rule. (This is why they say "rules are meant to be broken" in instances like these.)
However, because of a series of events out of my control, the sports bar deal fell through TWICE reminding me of that old universal adage of "if it's not meant to be, it just won't happen." So, why fight fate? (Looking back, it really was the wrong time to start a sports bar. My daughter was really young at the time, it was 2011 when the economy didn't even think about recovering yet, and...it just wasn't good timing. Now? Maybe. But I'm "over" the sports bar thing now. And yes, there were some deep-seated issues surrounding the deal too which I probably should have visited a shrink for...which I won't mention here.)
So...what ARE the best types of businesses to get into?
Easy. Your business MUST fall into this category:
No Requirements to Be in a Specific City or Population Size, Can Be Operated Out of a Garage in ANY Place with a U.S. Post Office and Internet Service, and Can Allow for Maximum Leverage with Minimal Time, Effort, and Resources
Lots of requirements...but not really if you slice them down one by one.
1) No requirements to be in a specific city which means that you aren't forced to depend on any fickle and limited local population for your business. This, again, goes back to that pesky retail/local rule. If you have to depend on the local economy for your business then it's NOT the business you want to be in. You want your patrons to be nationwide and, even better, GLOBAL. You should be able to operate your business out of a garage in the smallest of economically-desolate hick towns in the south and still make a minimum of 7-figures per year. ALL IN PROFITS!
2) Have access to a post office and Internet service means that...you have access to somewhere where you can receive and ship packages and other mail while having access to the Internet, which you should know about by now. (After all, you're ON IT RIGHT NOW!)
3) Have maximum leverage with minimal time, effort, and resources. This happens when you find a business that doesn't require a local retail presence (requiring expensive retail space and "stuff" to operate). Rather you have a business that can be run as a "one-man-band" (ideally just YOU raking in all the profits for yourself) in the most run-down of locations (even in a corner of your basement) without your customers knowing or caring, selling items that are cheap to produce and ship but have a HUGE value to people.
Now you can see that we're cutting out a lot of prospective businesses. Good. This is called "narrowing the field." Now we're getting somewhere.
And to think, many new entrepreneurs don't even run through this exercise. People wonder why more than half of all new businesses fail, this is why. The half that fail are started by people who don't put an ounce of thought into the numbers, the logistics of the business, or anything else that is fiscally important. So they fail, almost right away.
But that won't be you, my friend. You may not have figured it out yet but I'm lining you up for an Aggressive Business that will fall into all of the categories listed above (#1 through #3) that will knock your socks off.
Is It Still Possible to Make Money Online? Yes...and No!
As of about -- earlier this year -- you can't make money on eBay anymore. Those days are over and if you're smart, you'll treat eBay like the red-headed step-child...or MySpace.com. Whichever you prefer. Pretend it no longer exists because its days are severely numbered.
Amazon...profitable but too cut-throat to make money on. If you weren't building your Amazon business earlier this year or, preferably, much earlier than that then...you're probably S-O-L unless you're willing to bust some major ass to become a big Amazon player. (There's ANOTHER way to make money on Amazon but...I'll reveal that later. I will say this as a hint: it has nothing to do with selling on Amazon. Read between the lines. If you saw my video, you'd probably know what I'm talking about.)
The old days of whipping together a squeeze page, throwing up some ads on Google Adwords, and selling affiliate products are LONG GONE. You should know that by now.
But something else has replaced it. The mechanics are much the same but the way it's done has been..."funnelized." It's fairly easy to pull off IF you know what you're doing and IF you understand how it works. (If you didn't see my video on how this works, CLICK HERE.)
If you're smart, you'll be able to work this system.
Or you can just take my exact blueprint without being "smart" or doing much thinking and still make a ton of money that way. (This would be the preferred course of action for you to take.)
Since I first introduced my Money Funnel, I've had tons of emails from students asking me exactly how this works. While I'd love to be able to explain all of it in a 2-minute email, realistically I can't. Anything worth learning has to be done in a training, which I'm doing in March. You can't learn anything worthwhile by reading a short email about it or watching a short (yet thorough) video, although I did a kick-ass demonstration on what to do if you want to venture out and do it yourself without attending a training.
But...why not attend the training so that you can set up your funnel before you leave? Sounds kind of like...a NO BRAINER!
Here's where I'd like to clarify some things:
What Exactly WILL Be Revealed in March During the 2-Day Money Funnel Event?
The step-by-step method of exactly how to set up your funnels will be revealed AFTER we change your mind-set and re-wire your brain for success, of course. (That's on Day One.)
On the second day of the event, you'll be shown exactly how the funnels work and you can even swipe my exact funnels for your own financial benefit. I'll tell you exactly which products are the hottest and you can select from a handful of these super hot products by getting my exact funnel.
And I'll even go one step further for those of you who are super lazy.
For those of you who attend, you'll be able to gain access to the exact funnel, the super successful product line...and you won't even have to ship any products either. I have a way where you can have super profitability while not laying hands on shipping anything or stocking products in your basement. (This is always a huge concern for students now that many companies are requiring much bigger minimum orders for new companies starting out.)
But I can only offer this option for the people who actually attend the event. And I have reasons for this. It's simple: there are only so many people who can realistically promote these products online before crowding the space. Therefore, I cannot extend this opportunity for those who do not attend this event. No exceptions. (Sorry.)
Then, CLICK HERE to register for the event at a Holiday Blitz Blow Out Deal that will knock your socks off!
See you at the top!
Your mentor,
Monica Main
