Quote:
Originally Posted by unpinkpanther
...please forgive my newbie questions.
But I find it helpful to think aloud at
times, so I can learn from sharper minds than
mine.
From what I understand about the Harvey Brody
system, there are 2 parts:
1. Getting the toll position (exclusives,
etc)
2. Monetizing the toll position (getting the
cashflow from the toll position)
What if -God forbid- you are broke and you
get control of a toll position. And you
really need cashflow TODAY to pay some bills.
How will you monetize your toll position?
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I ask too many quetions. Several here can testify.
What I would ask someone like you is, how many alerts are you getting everyday?
I'll share a few of mine and it is the first few minutes of checking my email.
I have several google alerts set, and others too. Almost everyday I get email from:
Sands Investment Group, betheboss.ca, franchise direct, businessmart.com, as well as feeds from craigslist via searhtempest, zoomthelist and belong to a few groups, as well as keep an eye on other sites with offers.
The reason I get these alerts is, I and some others I know, are always on the ready to look for a good deal, an absentee owner or group possibility.
I also get the almost useless (but I still go through it, just in case) alerts from eBay businesses for sale.
As far as cashflow today with an acquired toll position, it has to be profitable going in. A salary would be a part of what you would take out of the business, BUT, a warning...the first priority is being able to pay the guy who sold it to you on...
a lease contract, or a fixed term income or any of a number of ways
of seller financing. All things are negotiable, but that means they can say NO as quick as they say yes.
There are a LOT of ifs, ands and buts in this...
one of the fastest ways is to buy a decent low cost, or pennies on the dollar IM business and quickly ramp it up.
The ifs, ands and buts are what you bring to the table, but, mostly what is the motivation.
Actually, to simplify the Harvey Brody way would be:
A- MINDSET
B- Stored Value Toll acquistion or
B1- creation
C- The marketing.
And I'm pretty sure Harvey would concur that A, is the 80% if looked at from a Pareto Perspective.
The reason so many can't get a toll position, is, they want step-by-step and how to and what, when...the most important thing...
is your mindset going into it.
In the last few years I've worked with scores of people and I can count on one hand the number who have fully fleshed out their idea, in a Soup to Nuts, 1, 2, 3 and A-B-C manner in their minds and have a very clear
VIEW FROM THE ROOFTOP. It is some of the hardest work you'll ever do, but without that...
pretty much the rest of his "system" doesn't work.
But to answer your question somewhat, if cashflow is a problem going in, chances are it is going to be an ongoing problem.
But the answer, is WORK and make it happen. I don't think you can QUICKLY find a real business you could take over in a week or so, but, buy a website
which you are actually going to do something with....
And use whatever you can to get it generating profits and cashflow.
GordonJ