Martin Fridson the author of the billionaire book talks about what it takes to maximize your chances of achieving billionaire status. This is the 30,000 foot view of the topic. It covers the grand strategies. In contrast, The Tycoon Playbook course drills down into the nitty gritty details of starting from the bottom and working one’s way up.
This is a worthwhile video to watch if you’re interested in the subject.
So what’s the best way to shoot for billionaire status these days? If you trust the MSM (which you shouldn’t), it’s all about jumping into the tech sector and creating some new website, app, or software. The rest of the economy is completely ignored. By the rest of the economy, I mean the part where 99% of workers are employed. There’s more to this world than just San Francisco/Silicon Valley which has sunk to most likely its lowest state ever if you have been following the news about its health & sanitation problems. (San Fran was my favorite American city throughout the 1980s and 90s but now I wouldn’t set foot in it if you paid me. But I digress.)
So how does one succeed with a strategy based on acquisitions? Keep in mind that we are talking about the acquisition of smaller companies and not $500 Million or Billion dollar ones.
One of the biggest fears that people have is that it’s too complicated in terms of the number-crunching. You have to be a math genius or at least have an MBA in finance, or so goes the myth. Is it true? Lets take a look using a simplified example.
How to Buy a Business When You’re Cash Tight?
While many people dream of buying a business most talk themselves out of it using financial excuses. They tell themselves that they can’t afford to buy a business. They typically use the down-payment as the main excuse. This is a depressing fact about humanity. Most people surrender without even trying.
However, there’s some good news. If you begin looking at businesses for sale and know what you’re doing you quickly begin to realize that most small businesses are over-priced fixer-uppers. Then you can make a strong and compelling case for reducing both price and down-payment. Furthermore, there are what we in the Playbook call Cash Creation Tactics and Cash Deferral Tactics.
It’s finally out!
Value Creation Strategies & Systems for Rapid Results
This is an in-depth 87 page exploration of how acquisitions can be improved in terms of performance so as to quickly boost valuation. It’s a must for anyone interested in rapid results. It’s also basically all you need to be a turnaround specialist once you have The Tycoon Playbook.
It will help you to: