What would I do with
$100,000?
Let’s
start at the beginning. I’m an avid entrepreneur and I’m continuing to grow my
portfolio at young age, and I aspire to greatness every day! One day while
continuing my personal education through personal study and development, I was
reading the book Think and Grow Rich. The chapter I was listening to was
chapter 6 on Ideas. I have lots ideas everyday like every entrepreneur but it’s
those ideas that keep coming back that are the ones we should act on and take
from an idea to a business.
I have taken a couple of these ideas to businesses, the
first one was a fail and never really got off the ground but I will tell you
what, I really learned. Starting businesses is like getting a bachelor’s degree
in pain and a master’s degree in suffering. To make a long story short I had an
idea for a software business that would help change how traditional hiring is
done. So I partnered with a software developer and we began work (well I began
working) months went on and the software developer just kept dragging me a long
saying “I’ll have it ready next week” this went on for months. I had invested
tons of time and some money into this product with nothing to show for it. So
before it got any worse I cut ties and walked away, which was hard because of
all the time and effort you put into an idea.
Fast forward a year and I have another idea that keeps
coming back but it wasn’t some glorious pretty tech idea like everyone has
these days. It was a blue collar business, window and gutter cleaning. Yeah
doesn’t sound very glamorous does it? But after more research and a small
market research test I found the margins are really good and it has a low
overhead startup cost. So I began, I went to home depot and spent $150 bucks on
materials and started knocking doors and just like that I had my first sale
within 1 hour. Fast forward to this summer I have a truck and top of the line
window cleaning technology and two guys working for me. But that’s not the end
I’m going to grow and put the right people in place to help me grow the window
cleaning company to the biggest in the state of Utah. But my mind and drive
doesn’t stop there, I know I need multiple businesses that give me multiple
streams of revenue. That is why I have started other businesses that will generate
addition revenue which I will tell you about in the following paragraphs.
Hopefully I have your attention, so to the point of this
article what I would do with $100,000:
1. 1. Invest $25,000 into the window cleaning company
to increase growth by bringing the right people on-board who can manage and grow
the business without me having to oversee everything so I can focus on growing
the other revenue streams.
2. 2. Invest $25,000 into a Consulting firm. The
consulting firm would partner with startups and businesses helping them with sales and marketing.
3. 3. Invest $50,000 in myself so I can get rid of the
day job. With the $50,000 I would use it focus 100% on the Consulting firm and
window cleaning company. I would also use the time to publish my ideas through
multiple channels of media; podcasts, Instagram, Facebook, blogs. Converting
the publications to monetizing through sponsors.
This is just the beginning to businesses and a road littered
with success. This is an off the cusp article but it is what I would do with
$100,000. What would you do with $100,000?
Phoenix Coaching
Rise from the Ashes!
Phoenix Coaching
Rise from the Ashes!
