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Starting a Business
In the last article I explained that I started a million dollar business using the influence and connections I have made. I explained that I have a ton of failures in my wake. I explained that in every failure i had there was a lesson for me to learn. If you are in the midst of those failures, don’t give up. Draw the lessons out of the failures you’ve had and move forward. Never stop moving forward. But if you are interested in what a million dollar business looks like, here are the numbers from my, most recent million dollar business.
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Here is exactly what a million dollar business looks like. The following is our monthly expenses. If you do the math you will see that, making $250K per quarter we will profit about 20%or 200k per year. This is after we pay each other 5k per month. The get-rich-quick crowd would have ou believe that funning million dollar business is the secret to financial freedom, but this is bunk. In the million dollar business that I run now, I am only making 60k per year plus a 10% bonus on the profit, which is 20k per year. So a million dollar business for me equals $80k per year.
So the truth about these marketers who say they are running a million dollar business is that, in many cases they can make enough money to pay themselves a livable wage. I know that some of them want to pretend that a million dollar business means they are a millionaire, but that is not accurate.
My million dollar business makes me 80k/year.
If you are taking coaching, consulting or advice from a business owner who, “owns a million dollar business,” ask to take a closer look at what they are really doing.