“What’s the best investment?” is the most frequent question I’m asked.
The Answer: Investing into a business that you control.
A good follow-up question is “Should I buy a business or start a new one?”
I see a lot of people these days looking to buy existing businesses or a franchise. This can work and following a proven system is certainly a smart idea, but sometimes it doesn’t end so well.
The problem with buying an existing business or franchise is the premium for the business or franchise already existing is so high. For instance, if you want to buy a business that’s making $100,000 per year of profit, it will probably cost you at least $250,000.
What many people are beginning to realize is that today you can inexpensively start a “lean” business in an accelerated way, following a proven system, and be just as profitable… Sometimes more profitable than the kind of business you can afford to buy.
And—fortunately—we are smack dab in the middle of a strange economic time where just about anyone can inexpensively startup a profitable business.
In this video, I tell you about the story of my friend Sam and how he went from nothing to having a wildly profitable consulting business: