Another way to make money
 

Don has given us all plenty of ideas how to make money. I say thank you to Don for that. I just figured it was my turn.

Since I think it is my turn, here are just six of the arenas that NEED the services I am about to write about:

Hotels, Medical, Restaurants, Funeral Homes, Manufacturers, Commercial property owners

The beauty of this program is you don't do any of the heavy lifting. In fact, you aren't allowed to do any of the heavy lifting. Only the licensed practitioner can do the work.

The program is called cost segregation. The practitioner will perform studies in property tax recovery, energy tax audits, incentive audits, hiring incentives, cell phone billing, vendor screening, income tax audits plus many other every day business activities.

Here are 3 hotels the company did studies for:

Holiday Inn

Hotel, New York

Cost Segregation Benefit ~ $3.6M


Lexington Inn & Suites

Hotel, Montana

Cost Segregation Benefit ~ $136K


Town Place Suites

2 Property Hotel, Maryland

Cost Segregation Benefit ~ $454K

Pay attention to the cost segregation benefit amount. That is the amount on which you get paid.

I have already laid the ground work with some of the biggest commercial real estate brokers in my city. I didn't use any SEO, linkedin, facebook, twitter, instagram, etc. tips, tricks or techniques. I didn't buy any WSOs or any other guru reports. I simply made an appointment with them took in one flyer and gave them a 15 minute presentation.

I do not know if I will get any business but I do know all it takes is 1, ONE, client to book these services and get a big refund check and I won't have to tell anyone else. They'll be calling me. Yes, that can be called wishful thinking but that's how I think. Do you think you could talk to ONE business owner?

Now, how can you do the same thing? If you want to know, write me at:

tellmenow at hushmail dot com and I will tell you. Make cost segregation the subject.

Since this is a forum of thinkers and some doers I thought I'd present my make money by doing nothing program. Well, not exactly doing nothing but next to nothing.

I will only reveal the website that has all of the details to the people who write me. I believe that to be only fair.

I did not extend this offer to anybody on the WF or any other forum. I like the chumminess of this forum and the overall helpful mindset of the population.

And, it won't cost you a dime to start doing this program. You don't need a license, permit or dog tag. You only need to be willing to talk to people you already know who own a business. And, it is NOT MLM or any sort of downline building horse hockey. You will have to sign a non-disclosure agreement.

If you don't live in the US, please don't write me. We don't go beyond the sea to shining sea. Not yet anyway...

Thanks for reading.

Re: Another way to make money
 

Hi Tom,

It definitely sounds intriguing...!

It sounds like the kind of business where you find clients for the company, and get paid a commission for each client which signs up. Am I on the right track? :)

Best wishes,

Dien

Re: Another way to make money
 

Dien,

Yes you are correct. The idea is to save them a ton of money. It is surprising how many of their CPA types don't have a full grasp on IRS laws and other pertinent related laws.

Everything is done working with their present relationships. That is why it is so successful. We don't remove any established relationship from the process. I was astounded when I was first introduced to this, as I call it, adventure.

I wish they'd branch out into Australia so I could visit some of my friends and write the trip off as a business expense.

Re: Another way to make money
 

Cost segregation service has been around for a while, but it became much easier with improvement in specialized software programs. I looked into it few years back when I was offered to buy my accountant's firm.

It's kinda funny niche. When you do a local google search, you'll find a lot competitors, mainly CPA firms. What's interesting, most of them are just re-sellers of one of the bigger software/service companies that actually perform the cost segregation. :-)

Some CPAs will do less complex projects in-house, but anything more involved gets passed on to specialized companies that are not always in the U.S...

I don't have the info in front of me, but I when I was doing my research, I actually got in touch with few companies that developed their own software. They offered white label service/reseller deals, even if you are not a CPA, EA (enrolled agent) or income tax service company. They prefered professionals, but it wasn't mandatory.

It has a nice income potential, some deals can pay five figures. Go for it, Tom!


PS. Also, a lot of resellers for "business valuation" services.

Re: Another way to make money
 

Thomas,

Thank you for the nice words. If you wish to get more information, drop me a line. It sounds like you might make a ton of $$$ given what you already know.

By the way, we are US based with only professionals in their respective fields. We aren't looking for wannabe practitioners. And, we don't offer white labeling or press 1 for English...

Tom

Re: Another way to make money
 

This sounds like something I looked into a number of years ago. I got a number of courses all from the same company. One was how to check telephone bills of businesses and find out how they were overcharged (they usually are due to the complexity of the systems) you would get 50 percent of the refund. Which could be thousands of dollars. Another course, one of my favorites, was to check businesses for mistakes on their rental agreement. For example they might be paying rent for 5,000 square feet. You measure it and its only $4,500 square feet) The business gets a refund that could go back for years of rent.
It goes on and on. One company specializes in auditing bills from major law firms.
As you might imagine they get refunds up to a million or more.
There was story in the news a few years ago about a black church that had been paying taxes that should not have been applied to them. They got a
6 figure refund. I remember in the area I used to live in New jersey it was decided that the rent that commercial renters were paying in that area was wrong and that they should get the money back they had paid on it.
Now imagine how many business owners did not know this or had moved and were entitled to this money. This all relates to my post on unclaimed funds.
I find it fascinating because there are these huge sums of money out there
just waiting for people to collect. IF they knew.

Re: Another way to make money
 

well....I couldnt get the email to work ...mind pm ing me here ?

Re: Another way to make money
 

How do we reach you, Sandals? I sent a PM, in case that works for you.

Re: Another way to make money
 

Thanks to everyone who requested information. My email address is in the body of my post. I simply wrote it out so the email scrapers don't grab it. I have enough junk already in my inbox. I don't need any more.

I have responded to everyone's request for information. If you intend to pursue this avenue I need your signed NDA. We can then move forward. It is surprisingly simple and I would be willing to bet you have never done less in your life and received as much. Just my thinking...

Re: Another way to make money
 

This reminds me of one of my "Hot Flashes"

My wifee had a retail Antique Shoppe and one day she got a flyer from the local Community College announcing an upcoming all day seminar on

"How To Find What Your Business is Worth"!

I called and registered for the class. The clerk who answered told me the seminar would be held in a classroom off the main lunchroom and that I should call a day before the class to make sure of the location.

I called a day before and she told me the response was HUGE and that the seminar would be held in the Main Lunchroom.

When I got there I found some biz owners I knew and asked WHY they were there. They all responded with; "I'd just like to know...for my own information!"

The course was very informative and I got one of my "HOT Flashes". Why don't I take some of this info, couple it with a software program and sell it to BiZ Owners.

Well.....I put together a Report and found a Programmer who created a Floppy Disk for me. All a biz owner has to do is enter numbers from their Balance Sheet and Profit & Loss Statement....click a couple buttons and Whala.....a Number comes up that represents the "Worth" of a bizness.

I named this program "Biz-Worth" and proceeded to sell it by sending out postcards (see photo) and I also put up a Sales Page on a website.

The response was awesome. I charged $95 for the Floppy & Report.

I also ran ads in biz mags where I got prospects to Phone my voice-mail ("FREE Recorded Message Reveals How To Find What Your Business is Worth, in the Privacy of Your Office. Phone 555-1212 24hrs!"

Now.....pay CLOSE ATTENTION to the following. I got people to call my Voice mail and leave their Name AND Address to receive the Info HOWEVER... instead of just sending a Sales Letter.....I also INCLUDED THE FLOPPY!

And at the end of the Sales Letter I mentioned that.....they don't have to Wait for the Software to be sent to them.....or Wonder IF they'll receive it.... THEY ALREADY HAVE IT! It's IN the enclosed CD but it's Locked. To unlock it they just need to phone my Order Service and the clerk will provide them with a CODE to UnLock the Floppy.

What I was appealing to was the awesome power of "Curiosity"! They ALREADY had the program....all they had to do was UnLock it!

Sales went thru the Roof!

Anyways.....maybe you can use this with a project where you get prospects to ask for More Info and.....when you send the info....also include an "Encrypted" CD!

Don Alm

Re: Another way to make money
 

Don,

I remember your biz valuation package from several posts you wrote about it. The program I mentioned doesn't do that.

The main goal is to re-orient the way a person looks at their business. Once they do that, they are better able to get positive results on, say, their taxes, real, property and income. The program isn't limited to taxes. I just use that as an example.

Truth is they can jump start their retirement, get business loans they probably wouldn't get anywhere else and get services they wouldn't get any place else.

You said you know hotel owners in your sphere of influence. I would bet we could put money in their pocket. It's amazing on what their accountants don't know when it comes to cost seg. Take their wiring for example. They don't know they have different types of wiring that can be depreciated faster than what they are now doing.

Almost none of them know how to properly depreciate their flooring. And, I can guarantee not one of them knows how to get tax free retirement dollars simply by making a change to their present retirement system. I know this from experience and not some pie-in-the-sky wishful thinking.

If you still have your biz valuation package and it is up to date, I'd be happy to present it to the owners for their perusal. If they decide to use it, you'll have an income stream that should make you very happy.

Of course, you don't have to give it to anyone. I'm simply making an offer without the authority to approve it for inclusion in our program portfolio.

Nothing happens unless we make it happen. It amazes how little business people know about making their assets pay them instead of the other way around.

Good luck with your biz valuation program.

Tom

Re: Another way to make money
 

Ah...this is the info Joe Polish wanted when i was listening to some old Gary Halbert tapes...

Wonder if this could be done today...;)

Hey Don, do ya still have that software?

Re: Another way to make money
 

Ya....still have the software program. Software doesn't deteriorate. However, I paid a programmer $2,500 for the program. Send me an email as to what you'd pay for the software AND the Flyers, PostCards and Website I used to sell it.

I sold 3200 of these puppies in 6 mos....sold the program to a "Marketing Firm" who proceeded to sell it for the next 2 yrs and.....when the owner passed away.....the Firm disbanded. And, now that I'm thinking about it.....I have a 24yr old grandson who might be interested in promoting this......or....heck, maybe I will take it up again. All it takes to get started is to set up a Voice Mail.....Print some PostCards and Buy some Stamps.

[email protected]

Don Alm

Re: Another way to make money
 

Hey Don.

Just done a G search for:

''How To Find What Your Business is Worth''

1st ad at the top of the page:

valuemybusiness.co.uk

Did/put in a fictitious company/with figures ...and YEAH it spat out the Business Worth for FREE!

Check here:
http://www.valuemybusiness.co.uk/val...tor/j5a3ah3m3r

Yeah your puppy worked years ago, but i have my doubts if if would work now...so i'll pass on ya offer.

BUT, there is CERTAINLY something in ya strategy...

Keep em coming...Cheers, from the limey over the pond:D

Re: Another way to make money
 

I used your search phrase to see what I would come with. One of the sites it produced had this to say:

There are several ways to calculate the value of a business:

•Asset Valuations: Calculates the value of all of the assets of a business and arrives at the appropriate price.
•Liquidation Value: Determines the value of the company's assets if it were forced to sell all of them in a short period of time (usually less than 12 months).
•Income Capitalization: Future income is calculated based upon historical data and a variety of assumptions.
•Income Multiple: The net income (profit/owner's benefit/seller's cash flow) of a business is subject to a certain multiple to arrive at a selling price.
•Rules Of Thumb: The selling price of other "like" businesses is used as a multiple of cash flow or a percentage of revenue.

Since I don't know what parameters Don used in his biz val program, I can't speculate as to whether his program is or isn't out of date. I would bet not since he seems to be the meticulous type who would have thought it through.

There were other sites listed on the search page but most of them had a book to sell. So did the site from which I took the above excerpt but I liked the excerpt so I quoted it.

By the way, this is one service we provide as well. We would use the Principal for this valuation. Costs vary depending on what you want. But you already knew costs would vary, right?

Re: Another way to make money
 

"Yeah.....MY thingee is "Old Hat"! "There's a freebie in the UK that provides the "SAME"? info my program does!!!!!"

Yup.....if YOU say it's so....it IS! It's what YOU believe! (I'll never forget all the "naysayers" when I told friends and family that "I" was gonna start a "BurglarAlarm" biz! Only ONE person wished me well and told me to "Go Fer It!" And.....within 2 years I had 17 employees and the LARGEST .....Alarm Biz on the North Shore of Chgo.)

However....for those extremely BUSY.....20 Millyun or so Small Business Owners who DON'T have the TIME to go traipsing thru Google "in the UK".....if they were to receive a PostCard in the Mail tomorrow morn.....telling them they can find out.......What Their Biz Is Worth.....in 30 Min.....in the Privacy of their Office!"......I think a pretty good percentage would take a minute to dial the "Recorded Message" to get some more info!

THEN.....when they leave their Mailing Info.....I GOT EM!

So....."Skepto" all you want..... most of my stuff has been "Skeptomized" ever since I've been getting Marketing Ideas AND......DOING THEM!

I'm setting my grandson up to start on this......18yrs after I did.....and I'll bet ya HE.....can get 1,000 biz owners to pop $97 for THIS!

Don Alm......DOER from waay baack

Re: Another way to make money
 

Good discussion on the business valuation topic.

With the amount of baby boomers who own small businesses
the opportunity in this area, might be better than ever.

At some point, they have to be thinking seriously about getting out.

Re: Another way to make money
 

When I went to the seminar on "How To Find Out What Your Business Is Worth!"......I asked some of the people WHY they were there.....were they planning on selling their biz and........EVERY ONE stated they "Just Wanted To Get An Idea of What Their Biz was Worth.....FOR THEIR OWN KNOWLEDGE!"

NONE of these biz owners had any intention of selling their biz!

Discovering THIS Fact is what told me my Market would be Huge!

So.....the "Target Market" here is .....EVERY SMALL BIZ OWNER!!

Don Alm

Re: Another way to make money
 

Guys, I'm NOT saying this will not work, and of course there are other variables valuing a biz...

BUT...it just shows what YOU can get for bugger all by doing a G search, additionally a lot of biz owners i see are Internet savvy, (late 40's early 50's) they have google's page open on their computer, when i sit with them at their desk. It took me 3 minutes to fill that online form out!

Also the Don Alm biz i heard on the old Gary Halbet tapes was circa 1997...Internet was in its infancy back then...

I can see this working sending it to the older type biz owner generation...

Don, why not re-test this again with a seminar on "How To Find Out What Your Business Is Worth!"

For myself I'm looking for the low hanging fruit, IE: I want to solve their problems, fill their needs/pain points, AND getting more customers/clients PROFITS is at the TOP of their list!

Great forum, with like minded souls here:)