To become a millionaire in business does not require an above average IQ. It does however require one crucial element that many businesses are lacking, and the lack of this one element not only prevents them from becoming millionaires, it causes them to go bankrupt.
This element of course, is leverage. If a business has this one all important distinction from it’s competitors, it can thrive no matter what the state of the economy. Customers will come to them without them having to invest much money in advertising. They will be able to charge more money for their products than those who compete against them in their market. Eventually, they will blast well beyond the 7 figure mark.
So, how does a person gain leverage? Brian Owens calls this the business “Allspark”. Here’s a short video description from his YouTube channel about what an Allspark is and how you can get one.
If you’re going to become a millionaire, you must be resolve to the fact that you need to start a business that provides value to other people in some way. If you can get that piece of the puzzle in place, it’s all down hill from here.
I love the example Brian uses of Richard Branson. Did you know that his entire “Virgin” empire was started as a mail order record business?
Now he’s one of the richest men on the planet…And it’s because his first success, even though it was small in comparison to what he’s accomplished today, was used as leverage to start other profit streams.
Some people will use the analogy that becoming a millionaire is much like a light beam. If it’s focused, it’s more powerful. If it gets spread too thin, it becomes weaker. So they will tell you to focus in on one project and not get “distracted” with all sorts of other ideas.
I happen to think that is incorrect. And the examples in the above video prove this to be true. These very successful people did not learn how to become millionaires by focusing in on one main project. They tried lots of different things until they were able to get a win.
Once they found that business model that allowed them to make a few sales, it was about going as big as they could with it, and reinvesting their profits into new profit streams and instantly filling those new projects with customers and life. And they continue to do that today.
It’s like a massive snow ball. Once you get a key piece of leverage, you use it to generate MORE leverage. Each new project builds on the last one until you are able to create money at will.
This concept holds the key to truly helping you become a millionaire. Follow the examples of those folks spoken of in the above video. Go against what everyone else is telling you that you “should” do, and go with who you are. If that means you’re an idea person, then you need to leverage that in your business. Hook up with an implementer who can take your ideas and turn them into profit.
You however should continue churning out new business verticals and profit ideas that can be run with. Some will succeed, others will fail, but growth isn’t about keeping your eggs in one basket. It’s about daisy chaining your baskets together! This way, you neither become a weak, spread out “beam”, and you don’t risk bankruptcy because of a single point of failure when a profit center goes down.