Money Is No Object When You’re a Successful Entrepreneur

What I’m about to show you is something that only a very select few will understand. However, those select few are usually the ones who will always have more money than they’ll ever need. Here is the key to getting anything you want, and how to become a successful entrepreneur…

My father is a relatively successful entrepreneur and my mother is a piano teacher. Even though they accomplished a lot, unfortunately, they’re not very good at saving money. After 40 years of working, they have about $10k saved to their name, and a retirement plan (not including social security) that will pay them out about $700 a month after they retire in 3 years. Not if I have anything to do about it.

The truth is, I’ll end up paying for their retirement. I don’t mind. They took care of me for 18 years, so now it’s my turn. I have enough money set aside that they can live off the interest for the rest of their lives.

That’s not enough, though. I want to give them a huge "happy retirement" present. What better present than to buy them a waterfront house on an Adirondack Lake? Unfortunately, I don’t have the $550k to buy the property and the $300k to buy the house. Yet. However, they’re retiring in 3 years. Here’s how I’ll make $850k in 3 years and how you can, too.

First off, you need to set a goal. Obviously mine is set; $850k in 3 years. Now we need to break it down into smaller goals.

Well, an online business usually sells for 12-14 months net profit and if it has potential all the way up to 24 months. This means that with 3 years, I would have to make ($850k/4=) $215k a year in online profits. ($215k x 3 years + 1 more year for selling the business). Can I make $215k a year online? Seems like a lot, doesn’t it?

Take that $215k a year and divide it into months. $18k a month, roughly. Do you think you can make $18k a month? That also seems like a lot, doesn’t it?

How much is one visitor worth in your business? $1? $2? $0.10? Let’s say one visitor to your site is worth about $0.50, a conservative estimate. That means in order to make $850k in 3 years, I’ll need to get 36,000 visitors a month to my site. Does this sound more achievable? It still sounds like a lot, doesn’t it?

How about if I started about 7 websites and marketed every single one of them the correct way? 36,000/7 = 5,200 visitors month. Hmmm… doesn’t seem so bad now. What if I started 10 websites? Do you think you can start 10 websites in 3 years and market them to the point where they get 3,600 visitors a month?

That’s only 120 visitors a day! Between all of the traffic methods you know already, do you think you can get 120 visitors a day?

This blog already gets twice that amount and it’s only 4 months old! Do you think you can create a blog like this 10 times in the next 3 years (every 3 months)? Doesn’t seem so hard now, doesn’t it?

So what did we just do? We just found out a way to pay for an $850,000 waterfront lakehouse with cash just by being successful entrepreneurs. We broke down our goals into smaller pieces that actually became achievable.

The next step, of course, is to take the next step and put this plan into action. One….step… at… a… time…

I know some of you may have objections and think this is not achievable. What are they?

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3 Responses to “Money Is No Object When You’re a Successful Entrepreneur”

Nik, on June 17th, 2008 at 6:55 am Said:

As a large brand says “Nothing is Impossible”.

So yes Bryan theoretically you can achieve that goal.

You have to consider that not all things go as planed and there are many downsides.

I bet that you will make the sites and you will make money. Mmmm.. perhaps not the whole amount but a pretty big one.

If you apply all the techniques you write in this blog I am certain that in 3 years you will not recognize yourself

Thank you for sharing your story.
Bryan, on June 17th, 2008 at 7:15 am Said:

Absolutely not everything goes as planned. That’s where you improvise, adapt, and overcome. The reason I wrote this is because I wanted to point out how simple it is. Sometimes we get caught up in the hype of how complex things seem to be, when it all boils down to a simple concept: monetization and visitors.

The only real thing I left out here is that not all visitors are created equal. A visitor from Stumbleupon may be worth $0.05 whereas a visitor from an article I wrote may be worth $1.50.

Ohh and by the way, I’ll achieve a lot more than this in 3 years. This is just an example.
Liz, on June 18th, 2008 at 2:40 pm Said:

I do traffic exchange I think one clicks on my website is a plus. Great information I most book mark you

Lizs last blog post..MINI GARDEN FLAGS