How Millionaires Become Millionaires

How Millionaires Become MillionairesYesterday we were watching a video “How Millionaires Become Millionaires” and reading this post from our friend and highly successful entrepreneur Chris Record.  Here’s what he said about why millionaires become millionaires ….

>>> Click Here to Watch the Video How Millionaires Become Millionaires <<<   

HOW MILLIONAIRES BECOME MILLIONAIRES IS BECAUSE THEY FIND MULTIPLE WAYS TO MAKE MONEY DOING WHAT THEY ARE ALREADY DOING.

This knowledge was passed on to me from one of my mentors, Chad A Wade, who unfortunately passed away a few years ago. But his wisdom still lives on.

And what better way to pay respect to Chad, than to pass on his wisdom and knowledge to you, so that’s what today’s post is about.

It was a hot day back in summer 2009 in Washington DC and I was blessed to be hanging out with Chad Wade, checking out the monuments and talking about our dreams, goals, and our vision for business in the future.

Chad said, “Chris, how millionaires become millionaires is because they find multiple ways to make money doing what they are currently doing.”

At first this advice might seem simplistic, but let’s think about this for a minute.

What Chad went on to explain was that our time is limited. If you always see yourself trading time for money, then you will run out of hours, and will run out of the ability to make more money.

So in order to create wealth, you want to find more ways to earn income during that same 24 hours in a day that we all have. And the more that income is based on you trading time, the harder it will be to amass wealth.

It was a HUGE PARADIGM SHIFT for me.

You see, when you think of a regular job, like back when I used to be a food server at a restaurant, it took every bit of energy for me to work those hours. How could I possibly be earning more money in those same hours?

But, when you look at the owner of that restaurant, he owned multiple restaurants, earning money from all of them, while he wasn’t even there.

And this was just the beginning of the paradigm. To truly understand this concept, let’s talk about something I like to call the “Inception Effect”.

THE INCEPTION EFFECT

Building a Business, within a Business, within a Business…

Let me ask you a few questions.

Is McDonalds in the Hamburger business, or the Real Estate business?

Are Movie Theaters are in the Movie business, or the Concessions business.

Is Dr. Dre is in the rap business, or the business of producing rappers?

The answer to all 3 of these questions is BOTH.

But then, does it go even deeper…

Take Dr. Dre for example:

1) He is a rapper, where he trades time and skills for money to build his personal brand.

2) He is a producer, where he leverages his time for more income from overrides on the time and skills of other rappers.

3) He is an investor, where he leverages his money and branding into BIG business opportunities to amass wealth far beyond what he could trade his time for.

Dr. Dre is well on the way to becoming the first billionaire rapper, but does that money really come from his rapping?

You see, Dr. Dre found multiple ways to make money doing what he was already doing.

He was already in the rap game. But he had a business mindset. So rather than just trade time for money as a rapper, he decided to start producing other rappers, and he became more of a talent scout. He was building a “team” that he could override. Similar to many business models you might be aware of.

He had to review thousands of potential artists, just to find the handful that would be hits. He had to take risks on people, many of which didn’t pay off. He had to gamble away his time, with the chance that he wouldn’t find any talented artists at all.

But, his calculated risks paid off. He found artists like Snoop Dogg and Eminem, which he produced and earned a massive residual override from. This is similar to finding a top sales rep under you in business that you get started, and then get a cut from all their sales. Sometimes, you can override more on a deal like that then you could ever make yourself trading time for money.

Then, he was smart enough to leverage his business mindset even further, by getting his branding involved in commercial product endorsements where he would get a piece of the company if it ever took off.

Now, he is on his way to become the first billionaire after positioning himself in deals like Beats by Dre, and others.

REAL PROFITS AREN’T ALWAYS WHERE THEY SEEM

Let’s go back to the movie theatre example. How much profit do you think they make on the sale of an actual movie ticket? Not much when you consider that the actors have to get paid as well, so do the producers, and the investors that put up the ad dollars to get people to go to the theater. And so much more.

The movie business would be a tough business to be in. If it weren’t for the business within a business.

Think about it. How much profits is made on a bucket of popcorn? How much profit do you think is made on a cup of soda? A TON right?

It’s basically just sugar water, which is very cheap. As well as ice, which is essentially free. The most expensive part is probably the cup itself, which is super cheap as well.

But…

Once you are inside the movie theater, you have zero options. You are not allowed to bring in your own food or drink. And you don’t want to sit through a movie without any right? So they have effectively driven you to the concession stand to buy their marked up products that have huge profits.

They make so much profit on concessions, that it’s worth LOSING MONEY to get you into the theater, because they would still be profitable.

They rely on the movie production companies to spend the money to drive people to the theaters, and that’s why they give up so much of the money on ticket sales.

But their real business only begins AFTER you have bought your ticket and you are inside.

And in the McDonalds example, if you research their history you will actually find that Ray Croc was STRUGGLING to be profitable until one of his employees, named Harry Sonneborn, actually convinced Ray Croc that the REAL money in their business was in Real Estate, not hamburgers!

It’s a true story.

Sonneborn came up with the idea to take out mortgages to buy the land and the building for each franchise, and then LEASE them back to the franchise owners at a 40% increased premium!

What’s even crazier is that the better the franchisee did with their business, the more they would have to pay in lease fees!

Based on this model, McDonalds went on to become of the largest real estate investment companies in the world, under the corporate name: Franchise Realty Corp.

WHERE IS THE “REAL” MONEY?

I began looking for opportunities to find businesses within businesses so that I could really open my mind and expand the possibilities I could have in my personal life.

Sure enough, examples were everywhere.

For instance, I love golf. It’s one of my passions. So I started looking at Tiger Woods. Sure enough, it became clear as day.

How Millionaires Become MillionairesEveryone knows Tiger Woods as one of the best golfers in the history of the game. And he wins MILLIONS for each tournament he takes 1st place in.

But then you start to see the REAL wealth and where it comes from.

Tiger Woods Made $83 Million Last Year, And He Has Now Earned $1.3 Billion In His Career. Golf Digest reports $71 million came from off course endorsements, and the rest was from his tour winnings.

Did you catch that?

So, he made $12 million last year from his tournament winnings, and $71 million from his “other” business. And what business is that?

Sponsorships and Endorsements.

Wow, think about it. Are golfers in the “golf business” or in the “endorsement business”? Both. But where is the “REAL” wealth generated? Endorsements!

How much does a Nascar winner receive if they take 1st place in a race? But how much more do they receive from sponsors if they wear their logo on their clothing, or put their logo on their car? The answer is MUCH MORE!

You might think that Shaquille O’ Neal is a rich basketball player, and perhaps one of the best. But did you know that he owns 40 24-Hour Fitness clubs, 155 Five Guys restaurants, a jewelry and clothing line, nightclubs, and more!

And there are hundreds of examples that I could continue to put in this post.

IN SUMMARY

How can YOU find more ways to make money doing what you are already doing?

How can YOU find ways to leverage your time, your skills, your money, your resources, and everything else in order to multiply your wealth rather than just add to it?

My main point I am hoping to drive home today is that wealthy people tend to find multiple ways to make money, doing what they are already doing, and that my good friend Chad Wade made an impact when he shared that information with me.

I hope that even one person is impacted by this post, and that it helps steer you towards a more efficient path for wealth creation and abundance in your life.

SHARE this article and/or TAG a friend that could benefit from it!

Source: https://www.facebook.com/chrisandsusanbeesley/posts/1151561718199496

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Who Are We

We’re former accountants of a certain age with 5 great kids and 3 grandchildren. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful business online and now speak on international stages following that passion.  Our worldwide educational business is centered on online marketing education and wealth creation and a desire to help you create financial freedom online through entrepreneurship whatever your age or experience.

Authors : The Mindset Shift

C&S Branding Video Still 4Skype : chrisbeesley1   susanbeesley1

Mobile/Cell: +44 (0)7802857551

Email : info@chrisandsusanbeesley.com

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5 Great Ways To Use Facebook Live

5 Great Ways To Use Facebook Live

5 great ways to use Facebook LiveFacebook live was launched to a select few people (celebrities mainly) early in 2015 and towards the end of the year they began to roll it out to our friends across the pond and finally to us mere mortals in the UK and Europe in early 2016.

Luckily for us they got to experiment so we could join the party knowing the 5 great ways to use Facebook Live without having to work it out for ourselves.  That being said we’re grateful and to repay that we’re going to share what we know so you can shortcut your success too.

5 Great Ways To Use Facebook LiveHow To Get Started With Facebook Live

Now that it’s rolled out you will find that you can use Facebook Live on your personal profile, your fan page and in your group

It looks a little different in each but you basically start your LIVE by clicking on the little radio head

First though give your Live Broadcast a name and make it something your audience will engage with

Your first one you can choose to just let yourself see so no worries as you practice!

Live streaming is a fantastic way to build and engage your audience and because Facebook want you to use this technology they give it higher ranking in the news feed so more of your fans and friends get to see it.

We’ve always been huge fans of live streaming and our first business endeavour was a live steaming product (video mail and live video webinars)  It was very powerful just a little too early to market if we’re honest.

Let’s get down to the 5 great ways to use Facebook Live

5 Great Ways To Use Facebook Live

“How To” Live Broadcasts

These are our absolute favourites and up until now we have done them using Google Hangouts.  This is so much easier and our audience can “just turn up”   We can teach business and marketing education but if you were in a different niche such as a fitness coach just demo some moves to your audience.  Do you think they will want to come back for more …?

Q & A Sessions

Again Q & A sessions are top of the 5 great ways to use Facebook Live.  These are a very popular way to build and engage your audience and add value.  Probably best to hold these on a regular day and time so you can educate your fans to join you and get to love your value so they want to know more about what you do …. later on down the line

We used to run a live (not on Facebook) called #AskChrisAndSusan

Behind The Scenes & Live Trainings

5 Great Ways To Use Facebook LiveThis will easily become one of the top if not THE TOP of the 5 great ways to use Facebook Live.

We go to and run a lot of events.  Imagine a teaser segment to share with your audience using the Facebook Live.

Just earlier this week in London at an event we attended they did a Facebook Live of Ryan Deiss speaking … in fact they did several of them and they have been viewed hundreds of times.  Do you think this builds the brand of the company who hosted the event and will get them more clients?  You bet it will.

Industry News

Use a Facebook Live to share regular updates on industry news – we could for example host a Facebook LIVE right now and share how people can start using Facebook Live.  It’s very useful and people who are active on social media especially Facebook will want to know about this and how they can use it in their business

Interviews

Not everyone is an expert (and certainly not to begin with – if ever)   Think about hosting a LIVE with an industry expert, celebrity in your niche and ask them to share some tips and training  Up until now we’ve always done this for our own show called “An Audience With Chris & Susan” but on a Google Hangout.  That works well for us where we are in two remove locations but if you can be somewhere together then you can stream it LIVE.

There are of course many more than 5 great ways to use Facebook Live but these will definitely inspire you to get started we’re sure.

Facebook Live Tips

Facebook Live broadcasts can be from a few minutes up to 90 minutes as of writing this article.  However they recommend 10 minutes to allow your audience to begin engaging (didn’t know that to begin with).  On that point do make sure to acknowledge your viewers and even speak with them.  This all makes it much more human and interactive.

Make sure to publicise your Facebook Live in advance so people turn up LIVE which is after all the whole point.  Yo can email your subscribers, post on your Facebook Page and Facebook Profile and even create a Facebook Event of course.  (It will record automatically and then be shown in your news feed afterwards but sill LIVE is best).

Create a Title for your Live and some details including a call to action  so that when you are finished it’s published with this information all ready prepared for you.  We didn’t do that the first few times and trust us it’s better to do it first if you can.

Have good lighting and use a microphone so you get good sound quality.  We use a SmartLav kit on our iphones for this as well as a tripod and iphone holder so we get a good experience for our viewers – you might have heard that when we interviewed Ryan Deiss the other day?

5 Great Ways To Use Facebook LiveThe video can be saved to your phone for later use giving you additional ways to use it for your brand engagement and marketing.  You can also edit your video on Facebook after it has been posted giving you the chance to add captions etc.

The whole point though is that Facebook Live is positioned to become the most powerful video streaming service so dismiss it at your peril and if you are a marketer then double that!

Hope you found these 5 great ways to use Facebook Live helpful to get you started building your audience and then engaging with them and adding value.  Ryan Deiss who we interviewed just the other day talks about this being essential for small business and this is just one great way you can do that.

Facebook Live AuthorityFor more in depth training including a step by step guide  Check Out Facebook Live Authority

When we started using Facebook Live for the first time there was little or not training of any kind.  This guide really gives you the step by step but it’s also a PLR so you might want to even create some training yourself and sell it!

Either way it’s great value and highly recommended

 

Chris and Susan Signature

 

 

Who Are We

We’re former accountants of a certain age with 5 great kids and 3 grandchildren. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful business online and now speak on international stages following that passion.  Our worldwide educational business is centered on online marketing education and wealth creation and a desire to help you create financial freedom online through entrepreneurship whatever your age or experience.

Authors : The Mindset Shift

C&S Branding Video Still 4Skype : chrisbeesley1   susanbeesley1

Mobile/Cell: +44 (0)7802857551

Email : info@chrisandsusanbeesley.com

Connect on Facebook

Join Our Facebook Group For Entrepreneurs

How To Start An Affiliate Marketing Business : Order Limitlesss

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