2023 Business Model That Can Make You Rich

Curated By Ralph

My favorite leadership quote is by Eleanor Roosevelt, who said, "Leadership is about making hard choices and being accountable for those choices." To me, it illustrates the importance of having a strong moral compass and being unafraid to stand up for what you believe in. Being a leader is not always easy, but with courage and conviction, anything is possible.

Hey There YouTube Myron golden here and I just want to share with you a business Model that can make you rich in 2023 and I know a lot of people want walk around And they talk about business plans and I Submit to you that A business plan is Nothing more than a bunch of words or a Wish for the most part the people who Came up with this idea of business plans Our College professors who've never had A business Um I actually have a business and our Business does millions and millions and Millions and millions and millions and Millions and millions of dollars a year And I'm not saying that to brag but it Does and I've never had a business plan In my life so you don't have to have a Business plan to be successful in Business in fact I submit to you that a Business plan oftentimes gives people Something to procrastinate with one more Thing to procrastinate with well that Doesn't fit into my business plan I Submit to you you're much better off Having a business model and when I say a Business model a model is a replica of Something it's a it's a way of Duplicating something and so what you Want is you want a business model and in My boss moves book uh boss moves is a Book that I wrote in 2020 business Optimization success secrets that's what Boss is an acronym for business

Optimization success secrets from a Million dollar Roundtable in that book I Shared four business models the first Business model we talked about was LP Times LV now this is a business model That you don't want so this business Model right here LV times LP I call that The entrepreneur business business model Now what is what is what does LV times LP mean it means low volume times low Profit low volume times low profit is The business model that most Entrepreneurs have and that's why I call It the entrepreneur business model and What that means is basically I want to Have a business I'd like to be a Business owner I'd like to run a Business but I don't know how so what I Do is I sell a little bit of something That makes me a little bit of money and So I think I'm in business because I Gave myself a business name and a Business card and I have a desk and I Have a printer and a computer and I've Got some stationary and I've got an LLC Well if your business model is LV times LP I've got some bad news for you but I'm going to have some good news later On and that is you are a entrepreneur That you are not a real entrepreneur and There are people in all kinds of Businesses who involved in all kinds of Businesses that are entrepreneurs you Might be a person who has a multi-level

Marketing business entrepreneur in other Words you don't understand that the real Way businesses are built in in network Marketing is not by selling the products Right so you got a lot of people Involved in multi-level marketing They'll get signed up and they'll start Trying to sell a few bottles of vitamins A month or a few bars of soap a month And there's nothing wrong with the Multi-level marketing business model Um because our business Um that type of business because I made A lot of money in multi-level marketing In fact I've made more money in Multi-level marketing than I've ever Made in any job in fact I've made more Money a month in multi-level marketing Than I've ever made in any job that I've Ever had in my life doing anything it's Not the business model that I'm a part Of now so before you send me a message Say Myron I've got a great multi-level Marketing business I don't do Multi-level marketing businesses anymore Because I like high profits and uh and I Don't want to manage 4 000 people again Right so I don't want to do that and if That's what you want to do I think Multi-level marketing by the way is a Great training ground for entrepreneurs To learn the skills of sales to learn The skills of team building and Recruiting and Leadership and all of

Those I believe it's one of the best Training grounds in the world for an Entrepreneur who's going to go into any Business okay however it's not a good Business model for me because I'm just Past that stage in my life but you are a Entrepreneur or maybe you have an E-commerce store and you sell four Candles a month Right and you make two dollars per Candle you are not an entrepreneur You're an entrepreneur or maybe you sell Things on eBay right and you go around You find some things or you sell stuff On Facebook Marketplace and you only Sell a handful of those things and when You do sell them you don't make any Money now there are people who have real Businesses selling stuff on eBay there Are people who have real businesses Selling stuff on Shopify and Amazon There are people who have real Businesses who sell stuff on Facebook Marketplace and in Craigslist and so on But if you're only selling low volume And low profit you are not an Entrepreneur yet so my recommendation Would be if you're going to do the work Anyway you might as well tap into one of The other three business models because Any one of the other three business Models can make you wealthy Entrepreneurship does not make you Wealthy so what's the second business

Model the second business model is what I call is what I call the entrepreneur Business model and that's LV times HP That's low volume times High profit low Volume times High profit is a business Model that can make you rich I had an Entrepreneur business model for a long Time and so when I first got started With my training company my very first Offer was my very first offer are y'all Ready for this was a hundred and forty Seven dollars I did a presentation and we sold about 70 of them maybe it was a little less Than that uh it was less than that it Was 50 something maybe or 40 something Anyway my first time I ever did a Presentation making this offer we did 50 59 hundred dollars in sales right so it Was lope it was it was low volume Like 40 something sales but it was high Profit because it probably cost me uh Thirty dollars so if you subtract the Thirty dollars from that that leaves me With a hundred and Seventeen dollars Profit times 40 sales and you do the Math it was pretty good business model Right so being being an entrepreneur now Today If you want to be an entrepreneur you Can be an entrepreneur with affiliate Marketing you can sell somebody else's Product and uh we've got we've got I've Got Affiliates okay so let me tell you

What affiliate marketing is first Affiliate marketing is you don't have a Product so you sell somebody else's Product and when you sell their product They pay you a commission so Um like for instance in our business we Do the make more offers challenge we do That challenge once a month we sell VIP Tickets for 297 dollars So For 297 I don't know what I'm doing Wrong here okay there we go I not Rendered okay I don't know what that Means so we sell we sell tickets for 297 dollars and if you divide that in Half we pay out in affiliate commissions We pay out in affiliate commissions 148 dollars and fifty cents for every Ticket sold we have we have we have Um Affiliates who make thousands of Dollars a month I mean we've paid out I Think last month we paid out like Nineteen thousand dollars in affiliate Commissions to our clients so if you Have if you're an entrepreneur and you Do affiliate marketing you can literally Sell somebody else's product and make Money you sell 10 make more offers Challenge tickets for uh VIP tickets you Would make fourteen hundred and eighty Dollars fourteen hundred and eighty five Dollars well that's not terrible that's Not great money but part-time it ain't Too terrible right if you sell you sell

Like 10 tickets a month That's Pretty stinking good part-time Money right so I for now I do affiliate Marketing for other people like I Promoted Russell's Um your first funnel challenge Russell Brunson is your first funnel challenge I Made like sixty thousand dollars Promoting his product to my audience so If you want to have if you want to be an Entrepreneur sometimes you might have an Offer but no audience or you might have An audience but no offer Well if you have an audience but no Offer go to somebody who has an offer or No audience and say hey if you'll Promote uh if I can promote your product To my off audience uh you get will you Give me half the money or if you have an Offer but no audience you go to somebody Who has an audience and says hey can I Per will you be willing to promote my Offer to your audience and y'all split The profits and a lot of people don't Like the idea of splitting profits but I Submit to you that splitting profits Make sense because of one of the Business models we want to talk to you About in a minute uh these multi-billion Dollar corporations have figured out That's like like Partnerships are Thebomb.com forward slash awesome right You like Partnerships are good I have a Lot of strategic Partnerships and the

Strategic Partnerships that I've Established over the last several Decades have made created an environment Where I don't have to spend money on ads Hardly ever so Um so entrepreneur business model you Might have low volume so you may do like Entrepreneur you may do low volume you May do a webinar once a month like a lot Of people do a webinar once a month They'll sell a thousand dollar offer Right so they sell a thousand dollar Offer and maybe they make 20 sales a Month well that's low volume 20 sales Not that many sales but that gives you 20 000 a month that's an entrepreneur Business model it's a great business Model I used to have an entrepreneur Business model we had a when I started Like I said my first offer was 147 uh Then we had some 497 dollar offers and Then we had some uh 997 dollar offers And we just we just kept trying and Tweaking different things until we had Our offer stacked down right and so like You could do you could make 100 you Could get two and I know this Probably Sounds crazy but as an entrepreneur with An entrepreneur business model doing uh With a thousand dollar offer you could Like realistically get to a hundred Thousand dollars a month in business Revenue right and you let's say if

You're cautious like let's say your cost Of doing business is 30 you'd still end Up with 70 000 a month in profits after You pay your taxes on that you'd still End up with you know uh less and less Increasingly right but but you'd end up With probably uh or you end up with Forty five thousand dollars a month in Tax after tax profit that's not terrible Right so that's the entrepreneur Business model then you have what I call The the waltripreneur business model now The reason I call it the entrepreneur Business model is because Sam Walton is The guy who started this concept Sam Walton Um if you read his biography you'll see That his his business philosophy that Governed his business model was I never Want to make more than 30 percent If I if I get a good deal from one of my Vendors I'm gonna pass that good deal Onto my customers I never want to make More than 30 cents on a dollar that I Spend right so on a 30 margin which for Most businesses believe it or not a 30 Margin is pretty good Right that's that most businesses if you Can if you're running a 30 margin most Businesses think they're doing pretty Good now for me I don't I don't want to Run on 30 margin but but but they're It's it's better than most businesses Right because businesses have expenses

You've got the expense of cost of goods You got the expense of of Um paying employees and contractors and Building and materials and you have all Of those costs well Sam Walton sold his Business was high volume low profit low Profit being 30 this is what most E-commerce sellers this is the business Model that most e-commerce sellers have And I know e-commerce sellers who make Hundreds of thousands of dollars a month Pennies at a time right so and and I say Pennies but like like could be pennies Could be dollars like they sell plastic Spoons on Amazon but they make like four Thousand dollars a month off the plastic Spoon and they make Um four thousand dollars a month off the Plastic fork right the plastic serving Fork I I and bicycle bells Like a Dude Tell me like he started an e-commerce Business selling bicycle bells and he Did like a Christmas special and he made Like twenty five thousand dollars with His first like e-commerce product and And that like e-commerce is a great Business model for those who like to do It I don't like it personally because it Doesn't matter like there's way too much Minutia way too many moving Parts way Too much it's not a bad business model Just not good for me and my personality Type because I don't want to do Inventory right I don't want to think

About inventory right when we get low on Boss moves books we just order 5 000 More and when they get low we order five Thousand more right okay so and then we Have people who manage the inventory too But but it ain't me right so that's a Well a entrepreneur business model is a Good business model Shopify Um uh Amazon and so many other E-commerce platforms some people just do E-commerce on their own funnel right and Make uh like the guy who in Click Funnels had uh the fastest growing Business in Click funnels he did like 26 Million dollars in six weeks or Something crazy it was just insane And he was selling flashlights tactical Flashlights right like What and Gun oil and just it's like Mind-blowing mind-blowing stuff so The thing about the thing about if you Think about Sam Walton and his Philosophy I never want to make more Than 30 and then you you migrate that Over to Amazon for instance you put Something on Amazon's shelves They'll pay you 30 of the profits They'll pay they'll pay I'm sorry They'll pay you 70 of the profits They'll keep 30 so let's say you write Ebooks for Amazon okay so I've written Some eBooks put some eBooks on Amazon Right or let's say you do some audio Books for for

Um Um audible right I don't know what the I don't know Exactly how much money you make from Audible I know exactly how much money You make from ebooks if you are part of Eight Amazon's KDP select program and You sell ebooks for ten dollars or less On Amazon they will pay you 70 percent Now here's what's amazing about that so I've got trash man the cash man on Amazon the book we sell the book Physical book for twenty dollars plus Ten dollar shipping and handling right We don't sell that part on Amazon we Sell the ebook though on Amazon for 9.99 Why because if we sold the ebook on Amazon for twenty dollars they would Still own they would own now they would Pay us thirty percent so we'd make six Dollars if we sold it for twenty dollars But we make seven dollars if we sell it For ten why because Amazon wants to Incentify incentivize authors to sell Their books for a lower price so Amazon Gets the business That's how they became the King Kong of Marketing right by High Volume high Volume low profits that's the Waltripreneur business model I'm going To give that to Sam Walton because he Was the first one not going to give it To Jeff Bezos okay my favorite business Model

Is HV times HP what's that that's high Volume times High profit what is that That's you have a three thousand dollar A three thousand dollar offer okay you Have a three thousand dollar offer so I'm running out of space here so what I'm going to do is I'm going to go I've Already talked about that I'm just going To go straight to my whiteboard so when I what you can have a three thousand Dollar offer that you sell and you sell A hundred of those a month Wow now you're talking about 300 000 a Month let's say you have a twenty five Thousand dollar offer Right if you have a twenty five thousand Dollar offer and you sell Um a 25 000 offer and you sell a hundred Of those per year Times 100 that's 2.5 that's 2.5 Million dollars this is why this is my Favorite business model now Here's the thing about well this is what I call the wealth entrepreneur business Model here's what I like about the well Entrepreneur business model it is the Business model that if you have Something valuable like if you're going To sell something for twenty five Thousand dollars you better be able to Get people a 250 000 result If you're going to sell something for Three thousand dollars you better be Able to get people a thirty thousand

Dollar result if you're gonna sell Something for fifty thousand dollars you Ever you better be able to get people a 500 000 result right so we've got Coaching programs that range anywhere From On The Low End five thousand Dollars on the high end all the way up To a million dollars which means I would Have to be able to get somebody what a 10 million dollar result right so Um for instance one of our new offers That we just created this year Is a VIP day and I'm not telling you This to sell you a VIP day I'm telling You this just to tell you what we've Created so we created a VIP day we've Sold we've sold 16 of them this year so That's not a ton Right Um and it's 350 000 right which means like we can we can Fully expect to help people have like Recuperate at least three and a half Million dollars based on that in that Time frame right so to give you an idea Of what I'm talking about like Um Like Marv for instance I won't tell you His last name but like he did a VIP day Back in June when it was only two Hundred thousand dollars in full Disclosure right and I know that that Sounded funny probably Um but he did a VIP Day within two weeks

He had a seven million dollar a day Revenue day And then within two months of that had a Nine million Revenue day and I'm telling You this because like just raising your Prices is not enough you have to know Something that gets people a result That's worth the more than the money They're paying you right and that's how You become a welterpreter now my Favorite business model is well Entrepreneurship that's that's my Favorite business model but we also have I also like the entrepreneur Entrepreneur business model where we Have some products that are lower profit Like like like lower profits I mean It's not low profit though it's high High profit lower volume like books for Instance boss moves book we sell three To five hundred books a month thirty Dollars a pop That's that's High profit for the book because In full disclosure uh it cost me about a Dollar and 75 cents to print that book And we sell it for 30 bucks right so That's high volume that's high profit And then the volume is not that high It's not like I'm selling thousands like I know people who sell 2 000 books a Week Right so our volume is 300 to 500 books A month it's not terrible right so

That's my entrepreneur side we do a Challenge every month we usually sell About 60 or 70 000 worth of challenge Tickets onto that challenge so that's Entrepreneurship so we combine Entrepreneurship the entrepreneur Business model with the wealth Entrepreneur business model and it gives Us the ability to make millions of Dollars I believe that if you combine Start with the entrepreneur Something that makes you three hundred Dollars five hundred dollars but sell That's decent profit right especially if You're delivering your product digitally Sell 30 of those a month Congratulations you're in business right And then once you get really really good At something that's really really really Valuable You take the value that you can deliver To a client divide it by 10 make that Your price and sell as many of them as You can that is going to be your best Chance of creating wealth in 2023. those Two business models are my favorites but The one the entrepreneur for those of You who like details of minutia and Managing inventory that's a really good Business model for those who like it so I hope this video helps if you like if This helped you in any way shape or form Please like the video share the video Comment on the video subscribe to our

Channel uh smash the notification Bell And all the other YouTube stuff that People do and we'll look forward to Seeing you on the next video peace out Cub Scouts

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