Making Bank®️

Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Jonathan Jay, Roland Fraiser, KC Chohan, Trevor Blake, Andre Swanston, Ross Hamilton & Antonio Garrido and in this episode you will hear tips and tricks from top entrepreneurs about how to successfully buy or sell a business.   Do not miss this compilation episode of the Best Of Making Bank Series. (0:54) Jonathan Jay The majority of businesses don't succeed past the first five years, so the best approach is to look for a business that's been running for at least five years that makes solid, reliable profits every single month and then once you've got the business, it will continue to make solid, reliable profits month after month for you. (5:41) Roland Fraiser The best way to identify which business to get into is by using what is known as the acquisition wheel and this wheel consists of seven categories. They are competitors, media, resources, products, services, monthly recurring or annual recurring companies, suppliers, distributors, and ip. Now you need to know who are the primary companies that fit that description.   (13:55) KC Chohan You can save a lot on tax by changing the ownership structure of everything. So when the company is owned by the trust ahead of the sale, when the sale happens, the trust will receive those funds and that saves you all the taxes unless you make a distribution. If you distribute those funds to a beneficiary, they are taxable.   (15:54) Trevor Blake In this new world, you have to rely really on your intuition more than you ever had to before. Develop a strong connection to your intuition so that you can make instantaneous decisions that you feel are right, even though the world might be saying otherwise. This is because you do not have time to always ask for help for everything. You have to react really quickly and for that you need strong intuition.    (19:29) Andre Swanston The value of multi-year contracts was exponentially more in terms of the multiple you could get on revenue as opposed to one-off contracts. And so in terms of preparing to raise another round, you should note that 50 cents of a multi-year contract was worth 2$ to $3 of a one-time expense. So there are different ways that you have to think about growing it and valuation.    (21:30) Ross Hamilton There’s a huge change when you remove the word problem and change it with the word project. So now you don't have a problem. You have a project and this mental shift in how you view problems will really help solve a lot of other things that may hinder your business into either growing or even when you want to buy or sell one.   (27:00) Antonio Garrido Leaders with a mindset of abundance as compared to scarcity tend to have a higher success rate. Think about what you're grateful for. You are in a tremendously blessed situation. Ask people how you can help and don't accept an “Everything's good” answer. Keep pushing and once they give you an answer, start following up on your commitments.   Links: @jonathanjay  @exitpathroland  @thetaxbloke  @trevorblake   @dreswan06  @antoniogarrido  @connectedinvestor  http://pix.joshfelber.com/LaKZF0cf

Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Jonathan Jay, Roland Fraiser, KC Chohan, Trevor Blake, Andre Swanston, Ross Hamilton & Antonio Garrido and in this episode you will hear tips and tricks from top entrepreneurs about how to successfully buy or sell a business.   Do not miss this compilation episode of the Best Of Making Bank Series. (0:54) Jonathan Jay The majority of businesses don't succeed past the first five years, so the best approach is to look for a business that's been running for at least five years that makes solid, reliable profits every single month and then once you've got the business, it will continue to make solid, reliable profits month after month for you. (5:41) Roland Fraiser The best way to identify which business to get into is by using what is known as the acquisition wheel and this wheel consists of seven categories. They are competitors, media, resources, products, services, monthly recurring or annual recurring companies, suppliers, distributors, and ip. Now you need to know who are the primary companies that fit that description.   (13:55) KC Chohan You can save a lot on tax by changing the ownership structure of everything. So when the company is owned by the trust ahead of the sale, when the sale happens, the trust will receive those funds and that saves you all the taxes unless you make a distribution. If you distribute those funds to a beneficiary, they are taxable.   (15:54) Trevor Blake In this new world, you have to rely really on your intuition more than you ever had to before. Develop a strong connection to your intuition so that you can make instantaneous decisions that you feel are right, even though the world might be saying otherwise. This is because you do not have time to always ask for help for everything. You have to react really quickly and for that you need strong intuition.    (19:29) Andre Swanston The value of multi-year contracts was exponentially more in terms of the multiple you could get on revenue as opposed to one-off contracts. And so in terms of preparing to raise another round, you should note that 50 cents of a multi-year contract was worth 2$ to $3 of a one-time expense. So there are different ways that you have to think about growing it and valuation.    (21:30) Ross Hamilton There’s a huge change when you remove the word problem and change it with the word project. So now you don't have a problem. You have a project and this mental shift in how you view problems will really help solve a lot of other things that may hinder your business into either growing or even when you want to buy or sell one.   (27:00) Antonio Garrido Leaders with a mindset of abundance as compared to scarcity tend to have a higher success rate. Think about what you're grateful for. You are in a tremendously blessed situation. Ask people how you can help and don't accept an “Everything's good” answer. Keep pushing and once they give you an answer, start following up on your commitments.   Links: @jonathanjay  @exitpathroland  @thetaxbloke  @trevorblake   @dreswan06  @antoniogarrido  @connectedinvestor  http://pix.joshfelber.com/LaKZF0cf

Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with Jonathan Jay, Roland Fraiser, KC Chohan, Trevor Blake, Andre Swanston, Ross Hamilton & Antonio Garrido and in this episode you will hear tips and tricks from top entrepreneurs about how to successfully buy or sell a business.   Do not miss this compilation episode of the Best Of Making Bank Series. (2:10) Jonathan Jay The majority of businesses don't succeed past the first five years, so the best approach is to look for a business that's been running for at least five years that makes solid, reliable profits every single month and then once you've got the business, it will continue to make solid, reliable profits month after month for you.   (6:57) Roland Fraiser The best way to identify which business to get into is by using what is known as the acquisition wheel and this wheel consists of seven categories. They are competitors, media, resources, products, services, monthly recurring or annual recurring companies, suppliers, distributors, and ip. Now you need to know who are the primary companies that fit that description.   (15:11) KC Chohan You can save a lot on tax by changing the ownership structure of everything. So when the company is owned by the trust ahead of the sale, when the sale happens, the trust will receive those funds and that saves you all the taxes unless you make a distribution. If you distribute those funds to a beneficiary, they are taxable.   (17:11) Trevor Blake In this new world, you have to rely really on your intuition more than you ever had to before. Develop a strong connection to your intuition so that you can make instantaneous decisions that you feel are right, even though the world might be saying otherwise. This is because you do not have time to always ask for help for everything. You have to react really quickly and for that you need strong intuition.    (20:46) Andre Swanston The value of multi-year contracts was exponentially more in terms of the multiple you could get on revenue as opposed to one-off contracts. And so in terms of preparing to raise another round, you should note that 50 cents of a multi-year contract was worth 2$ to $3 of a one-time expense. So there are different ways that you have to think about growing it and valuation.    (22:47) Ross Hamilton There’s a huge change when you remove the word problem and change it with the word project. So now you don't have a problem. You have a project and this mental shift in how you view problems will really help solve a lot of other things that may hinder your business into either growing or even when you want to buy or sell one.   (28:16) Antonio Garrido Leaders with a mindset of abundance as compared to scarcity tend to have a higher success rate. Think about what you're grateful for. You are in a tremendously blessed situation. Ask people how you can help and don't accept an “Everything's good” answer. Keep pushing and once they give you an answer, start following up on your commitments.   Links: @jonathanjay  @exitpathroland  @thetaxbloke  @trevorblake   @dreswan06  @antoniogarrido  @connectedinvestor  http://pix.joshfelber.com/LaKZF0cf

Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with David Nurse, Brian Will, Pace Morby, Matt Smith, Gary Brecka, Brad Barrett and Ross Hamilton and in this episode you will hear tips and tricks from top entrepreneurs that will ensure you great success.    Do not miss this compilation episode of the Best Of Making Bank Series.   (1:43) David Nurse If your morning routine becomes something that you have to do or the rest of your day is ruined if you don't, then you're losing the battle to that morning routine. It should just be like a supplement. It should be like a boost. That morning routine can help you, but you should not depend on it.   (4:04) Brian Will Who you are can get you to where you are. But if you want to go someplace else, then you're going to have to change who you are. And you need to make a conscious decision, not an emotional one. And that conscious decision is to recognize the fact that you can't get to the next level alone and you need to bring somebody in who's going to help you do that.   (7:30) Pace Morby Don't partner with anybody remotely close to your own personality style. Let people who are different from you handle your business so you can focus on other things. Secondly, never exchange time for money. Instead use your resources to be able to exchange your money for time because nothing is more precious than your time.   (18:16) Matt Smith Mentorship is absolutely a cheat code and anybody that's too stubborn to think that they can't learn from somebody else doesn't deserve to be an entrepreneur. You can't do much on your own and, and get whatever will help you out there and be willing to help others too. It's part of the journey.    (22:30) Gary Brecka The same process that governs a fight or flight response in human beings governs the waking in our minds. It's called catecholamines.This is a category of neurotransmitters that create a sense of wakefulness and if you can't down regulate those catecholamines, your environment will quiet and your mind will wake up.   (25:56) Brad Barrett Discipline is always better than motivation. It’s important that you put some tools in place to help you in your business because it is very easy to get motivated for a time being but it takes discipline to actually commit to whatever plan you had going. So the best way to do this is by having a co-pilot. Learn to have a partner so they can be the strength to your weaknesses and help you be disciplined.   (29:51) Ross Hamilton Instead of figuring out so many processes for success, sometimes you just need to look in the mirror and examine your habits, where you’re spending your time, your morning and evening routines. Getting your morning right and your evening right, the start and end of your day, can really add up to get you anywhere you want to be.   Links: @davidnursenba  @thedropoutmm  @pacemorby  @mattsmithpueblo  @garybrecka  @brad.barrett  @connectedinvestor

Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with David Nurse, Brian Will, Pace Morby, Matt Smith, Gary Brecka, Brad Barrett and Ross Hamilton and in this episode you will hear tips and tricks from top entrepreneurs that will ensure you great success.    Do not miss this compilation episode of the Best Of Making Bank Series.   (1:43) David Nurse If your morning routine becomes something that you have to do or the rest of your day is ruined if you don't, then you're losing the battle to that morning routine. It should just be like a supplement. It should be like a boost. That morning routine can help you, but you should not depend on it.   (4:04) Brian Will Who you are can get you to where you are. But if you want to go someplace else, then you're going to have to change who you are. And you need to make a conscious decision, not an emotional one. And that conscious decision is to recognize the fact that you can't get to the next level alone and you need to bring somebody in who's going to help you do that.   (7:30) Pace Morby Don't partner with anybody remotely close to your own personality style. Let people who are different from you handle your business so you can focus on other things. Secondly, never exchange time for money. Instead use your resources to be able to exchange your money for time because nothing is more precious than your time.   (18:16) Matt Smith Mentorship is absolutely a cheat code and anybody that's too stubborn to think that they can't learn from somebody else doesn't deserve to be an entrepreneur. You can't do much on your own and, and get whatever will help you out there and be willing to help others too. It's part of the journey.    (22:30) Gary Brecka The same process that governs a fight or flight response in human beings governs the waking in our minds. It's called catecholamines.This is a category of neurotransmitters that create a sense of wakefulness and if you can't down regulate those catecholamines, your environment will quiet and your mind will wake up.   (25:56) Brad Barrett Discipline is always better than motivation. It’s important that you put some tools in place to help you in your business because it is very easy to get motivated for a time being but it takes discipline to actually commit to whatever plan you had going. So the best way to do this is by having a co-pilot. Learn to have a partner so they can be the strength to your weaknesses and help you be disciplined.   (29:51) Ross Hamilton Instead of figuring out so many processes for success, sometimes you just need to look in the mirror and examine your habits, where you’re spending your time, your morning and evening routines. Getting your morning right and your evening right, the start and end of your day, can really add up to get you anywhere you want to be.   Links: @davidnursenba  @thedropoutmm  @pacemorby  @mattsmithpueblo  @garybrecka  @brad.barrett  @connectedinvestor

Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with David Nurse, Brian Will, Pace Morby, Matt Smith, Gary Brecka, Brad Barrett and Ross Hamilton and in this episode you will hear tips and tricks from top entrepreneurs that will ensure you great success.    Do not miss this compilation episode of the Best Of Making Bank Series.   (3:04) David Nurse If your morning routine becomes something that you have to do or the rest of your day is ruined if you don't, then you're losing the battle to that morning routine. It should just be like a supplement. It should be like a boost. That morning routine can help you, but you should not depend on it.   (5:35) Brian Will Who you are can get you to where you are. But if you want to go someplace else, then you're going to have to change who you are. And you need to make a conscious decision, not an emotional one. And that conscious decision is to recognize the fact that you can't get to the next level alone and you need to bring somebody in who's going to help you do that.   (8:52) Pace Morby Don't partner with anybody remotely close to your own personality style. Let people who are different from you handle your business so you can focus on other things. Secondly, never exchange time for money. Instead use your resources to be able to exchange your money for time because nothing is more precious than your time.   (19:33) Matt Smith Mentorship is absolutely a cheat code and anybody that's too stubborn to think that they can't learn from somebody else doesn't deserve to be an entrepreneur. You can't do much on your own and, and get whatever will help you out there and be willing to help others too. It's part of the journey.    (24:02) Gary Brecka The same process that governs a fight or flight response in human beings governs the waking in our minds. It's called catecholamines.This is a category of neurotransmitters that create a sense of wakefulness and if you can't down regulate those catecholamines, your environment will quiet and your mind will wake up.   (27:20) Brad Barrett Discipline is always better than motivation. It’s important that you put some tools in place to help you in your business because it is very easy to get motivated for a time being but it takes discipline to actually commit to whatever plan you had going. So the best way to do this is by having a co-pilot. Learn to have a partner so they can be the strength to your weaknesses and help you be disciplined.   (31:22) Ross Hamilton Instead of figuring out so many processes for success, sometimes you just need to look in the mirror and examine your habits, where you’re spending your time, your morning and evening routines. Getting your morning right and your evening right, the start and end of your day, can really add up to get you anywhere you want to be.   Links: @davidnursenba  @thedropoutmm  @pacemorby  @mattsmithpueblo  @garybrecka  @brad.barrett  @connectedinvestor

Welcome back to Making Bank. On today’s episode, we have a compilation of previous episodes with David Nurse, Brian Will, Pace Morby, Matt Smith, Gary Brecka, Brad Barrett and Ross Hamilton and in this episode you will hear tips and tricks from top entrepreneurs that will ensure you great success.    Do not miss this compilation episode of the Best Of Making Bank Series.   (3:04) David Nurse If your morning routine becomes something that you have to do or the rest of your day is ruined if you don't, then you're losing the battle to that morning routine. It should just be like a supplement. It should be like a boost. That morning routine can help you, but you should not depend on it.   (5:35) Brian Will Who you are can get you to where you are. But if you want to go someplace else, then you're going to have to change who you are. And you need to make a conscious decision, not an emotional one. And that conscious decision is to recognize the fact that you can't get to the next level alone and you need to bring somebody in who's going to help you do that.   (8:52) Pace Morby Don't partner with anybody remotely close to your own personality style. Let people who are different from you handle your business so you can focus on other things. Secondly, never exchange time for money. Instead use your resources to be able to exchange your money for time because nothing is more precious than your time.   (19:33) Matt Smith Mentorship is absolutely a cheat code and anybody that's too stubborn to think that they can't learn from somebody else doesn't deserve to be an entrepreneur. You can't do much on your own and, and get whatever will help you out there and be willing to help others too. It's part of the journey.    (24:02) Gary Brecka The same process that governs a fight or flight response in human beings governs the waking in our minds. It's called catecholamines.This is a category of neurotransmitters that create a sense of wakefulness and if you can't down regulate those catecholamines, your environment will quiet and your mind will wake up.   (27:20) Brad Barrett Discipline is always better than motivation. It’s important that you put some tools in place to help you in your business because it is very easy to get motivated for a time being but it takes discipline to actually commit to whatever plan you had going. So the best way to do this is by having a co-pilot. Learn to have a partner so they can be the strength to your weaknesses and help you be disciplined.   (31:22) Ross Hamilton Instead of figuring out so many processes for success, sometimes you just need to look in the mirror and examine your habits, where you’re spending your time, your morning and evening routines. Getting your morning right and your evening right, the start and end of your day, can really add up to get you anywhere you want to be.   Links: @davidnursenba  @thedropoutmm  @pacemorby  @mattsmithpueblo  @garybrecka  @brad.barrett  @connectedinvestor

Welcome back to Making Bank. On today's episode, we have Ross Hamilton who is a highly successful entrepreneur, investor, and marketer, and best known for building, scaling, and selling connected investors to First American titles.   In his early years, Ross's passion for BMX led him to train under the legendary, Dave Mira, until an injury ended his BMX career. He then turned his focus on real estate making his first million in his early twenties. Now Ross used the profits from his flips to see the development of connected investors, the social network and investment property marketplace for real estate investors and private lenders.   Don’t miss this episode of Ross Hamilton in Making bank.    (3:27) Background Ross started his career as a BMX rider and he trained under Dave Mira. He even found his own BMX clothing brand and he would drive around his Van sponsoring other riders. He then got injured and had to stop, so he turned to books to try to understand how to make a living. He then found out that most entrepreneurs do it through Real Estate and that was what kick started his business career.    (7:40) Real Estate Challenges The biggest challenges in Real Estate investing, can be clubbed into two questions. “Where do I get the money and where do I get the deals?” But the good thing is you can solve this with one answer because if you have a good deal, money is never an issue. But if you have a bad deal then it’ll be hard to get money.    (9:22) Connected Investors In real estate, the more people you are connected with, the more money you could make. Find an event and go to it. Show up and something good might happen. It’s important to find a group or community that does similar businesses who may have more experience so you can eventually learn more from it too.   (12:25) Ultimate Mind Hack A great hack for anyone who is into Real estate investing or any other business, is to take what you think is holding you back and then try to turn that into your biggest strength. Also, make sure you write down every step you take along your journey as an entrepreneur because then you will get to see not only your progress, but also flaws which you can then work on to become better.   (15:12) Growing A Business When you grow and scale a company, your greatest strength as a founder can become a weakness of an organization because you didn't do a good job building a team of people around you that can do the skill sets that you were really good at. So make sure you take the time to train people so you have a good support system otherwise your superpower can become their weakness.   (19:26) Selling A Business When you sell a business, there will always be challenges because now you are venturing into new territories. But one great mind trick you can do is change the word problem to project. Now you have a project instead of a problem and this shift in mindset will really help you be more positive and help you overcome more challenges that you will face.   (25:27) Habits For Success Instead of figuring out so many processes for success, sometimes you just need to look in the mirror and examine your habits, where you’re spending your time, your morning and evening routines. Getting your morning right and your evening right, the start and end of your day, can really add up to get you anywhere you want to be.   Links: [email protected]  Twitter: @cinvestors Instagram: @connectedinvestors LinkIn: https://www.linkedin.com/in/cirosshamilton/

Welcome back to Making Bank. On today's episode, we have Ross Hamilton who is a highly successful entrepreneur, investor, and marketer, and best known for building, scaling, and selling connected investors to First American titles.   In his early years, Ross's passion for BMX led him to train under the legendary, Dave Mira, until an injury ended his BMX career. He then turned his focus on real estate making his first million in his early twenties. Now Ross used the profits from his flips to see the development of connected investors, the social network and investment property marketplace for real estate investors and private lenders.   Don’t miss this episode of Ross Hamilton in Making bank.    (3:27) Background Ross started his career as a BMX rider and he trained under Dave Mira. He even found his own BMX clothing brand and he would drive around his Van sponsoring other riders. He then got injured and had to stop, so he turned to books to try to understand how to make a living. He then found out that most entrepreneurs do it through Real Estate and that was what kick started his business career.    (7:40) Real Estate Challenges The biggest challenges in Real Estate investing, can be clubbed into two questions. “Where do I get the money and where do I get the deals?” But the good thing is you can solve this with one answer because if you have a good deal, money is never an issue. But if you have a bad deal then it’ll be hard to get money.    (9:22) Connected Investors In real estate, the more people you are connected with, the more money you could make. Find an event and go to it. Show up and something good might happen. It’s important to find a group or community that does similar businesses who may have more experience so you can eventually learn more from it too.   (12:25) Ultimate Mind Hack A great hack for anyone who is into Real estate investing or any other business, is to take what you think is holding you back and then try to turn that into your biggest strength. Also, make sure you write down every step you take along your journey as an entrepreneur because then you will get to see not only your progress, but also flaws which you can then work on to become better.   (15:12) Growing A Business When you grow and scale a company, your greatest strength as a founder can become a weakness of an organization because you didn't do a good job building a team of people around you that can do the skill sets that you were really good at. So make sure you take the time to train people so you have a good support system otherwise your superpower can become their weakness.   (19:26) Selling A Business When you sell a business, there will always be challenges because now you are venturing into new territories. But one great mind trick you can do is change the word problem to project. Now you have a project instead of a problem and this shift in mindset will really help you be more positive and help you overcome more challenges that you will face.   (25:27) Habits For Success Instead of figuring out so many processes for success, sometimes you just need to look in the mirror and examine your habits, where you’re spending your time, your morning and evening routines. Getting your morning right and your evening right, the start and end of your day, can really add up to get you anywhere you want to be.   Links: [email protected]  Twitter: @cinvestors Instagram: @connectedinvestors LinkIn: https://www.linkedin.com/in/cirosshamilton/

Welcome back to Making Bank. On today's episode, we have Ross Hamilton who is a highly successful entrepreneur, investor, and marketer, and best known for building, scaling, and selling connected investors to First American titles.   In his early years, Ross's passion for BMX led him to train under the legendary, Dave Mira, until an injury ended his BMX career. He then turned his focus on real estate making his first million in his early twenties. Now Ross used the profits from his flips to see the development of connected investors, the social network and investment property marketplace for real estate investors and private lenders.   Don’t miss this episode of Ross Hamilton in Making bank.    (4:36) Background Ross started his career as a BMX rider and he trained under Dave Mira. He even found his own BMX clothing brand and he would drive around his Van sponsoring other riders. He then got injured and had to stop, so he turned to books to try to understand how to make a living. He then found out that most entrepreneurs do it through Real Estate and that was what kick started his business career.    (8:50) Real Estate Challenges The biggest challenges in Real Estate investing, can be clubbed into two questions. “Where do I get the money and where do I get the deals?” But the good thing is you can solve this with one answer because if you have a good deal, money is never an issue. But if you have a bad deal then it’ll be hard to get money.    (10:32) Connected Investors In real estate, the more people you are connected with, the more money you could make. Find an event and go to it. Show up and something good might happen. It’s important to find a group or community that does similar businesses who may have more experience so you can eventually learn more from it too.   (13:34) Ultimate Mind Hack A great hack for anyone who is into Real estate investing or any other business, is to take what you think is holding you back and then try to turn that into your biggest strength. Also, make sure you write down every step you take along your journey as an entrepreneur because then you will get to see not only your progress, but also flaws which you can then work on to become better.   (16:22) Growing A Business When you grow and scale a company, your greatest strength as a founder can become a weakness of an organization because you didn't do a good job building a team of people around you that can do the skill sets that you were really good at. So make sure you take the time to train people so you have a good support system otherwise your superpower can become their weakness.   (20:35) Selling A Business When you sell a business, there will always be challenges because now you are venturing into new territories. But one great mind trick you can do is change the word problem to project. Now you have a project instead of a problem and this shift in mindset will really help you be more positive and help you overcome more challenges that you will face.   (26:36) Habits For Success Instead of figuring out so many processes for success, sometimes you just need to look in the mirror and examine your habits, where you’re spending your time, your morning and evening routines. Getting your morning right and your evening right, the start and end of your day, can really add up to get you anywhere you want to be.   Links: [email protected]  Twitter: @cinvestors Instagram: @connectedinvestors LinkIn: https://www.linkedin.com/in/cirosshamilton/