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May 28, 2020

The world will witness the greatest transfer of wealth possibly EVER SEEN during the next 10-12 months, and you need to be ready to take advantage. It doesn’t matter where you are in the world there are so many ways you can enter into the market.  

In this follow-up episode, I am answering all your questions about buying businesses and moving forward in the next few months.  I talk about the benefits of buying now.  I also talk about what to access before buying and thinking creatively when restarting to expand and grow. I talk about many different types of businesses including hair salons, daycares, auto detailers, art galleries, and more.   

Right now you need some creativity in the current market to restart, expand, and grow.  I share many different types of ideas for restarting your current business or a new business.  Creativity is the key! 

Show Notes:

  • [00:54] It would be beneficial to buy in now with hair salons because you would be buying in at a low rate and you could be a part of bringing it back up.  
  • [03:05] Loral shares about a VIP experience that they created to bring in cash flow for a hair salon.  
  • [04:31] Managing and holding on to the credit card and contracting the cash on a twelve-month contract is a great way to manage and contract cash flow. This can be done with many types of business including daycares and auto detailers.  
  • [05:24] Hemp farms can be a great investment if you have a buyer.  
  • [07:10]  If you get motivated you can really get creative about creating a revenue stream.  
  • [07:54] You do need to be geo targeted or at least understand the pattern of the traffic. Is it seasonal? 
  • [09:34] She likes to see a variety of kinds of income which can recession-proof you.  
  • [10:59] My goal is to get your mind churning and give you an initial script to go and look around your community and start walking in or getting online and talking to the owner.  
  • [11:44] One creative way to get people involved in your business is to take them on a virtual tour or have an online event especially if you are an art gallery or similar business.    
  • [13:38] The biggest missing piece is lower-end ticket items that are missing to just get people interested.  
  • [13:58] You do want to look at your competition.  Loral suggests and walks clients through using SWAT charts.    
  • [14:39] If you come in and take over a business do you want to clean house or maintain the same employees?
  • [15:32] Will there be an ownership change or can you just add a new division and just take over that? You would need an LLC with the new division.  
  • [18:22] If you are in the Millionaire Training group that is where you are going to get your most prized content, bonuses, and offers.  
  • [19:29] Get your head up and think, talk, and make money the way the wealthy do.  
  • [19:35] Your homework is to go look around your community and see what is available to buy and bring any questions back to the Millionaire Training group.  
  • [20:07] Is there a target industry that may hold a sweet spot for consumers?
  • [21:42] People are looking at how they are going to spend differently.  
  • [22:51] If you have good expertise and a good team on your side you can buy things and not have to pay a dime.   

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store

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