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Rick would need to stay on top of this process by coding each expense as he spent, so that he would drive his
expenses for the bookkeeper he would need to engage.
Though direct asset allocation was Rick’s first step in activating his Wealth Cycle Process, the real acceleration
of his Wealth Cycle, through increased asset allocation, couldn’t really begin until several other building blocks
were in place, such as his entities, his Cash Machine, and, of course, the Wealth Account. If Rick were to try to
accelerate his Wealth Cycle without getting his Wealth Account in place, he’d be building on a foundation that
wasn’t solid, and his acceleration would falter. He might be able to spot deals and opportunities, and even close a
few, but if his source of cash—his Wealth Account—was not up and running, his options would be severely limited
and he’d miss out on great investment opportunities. Even worse, he might see his financial foundation crumble
beneath him.
For Rick, the Wealth Account step was critical. Without the Wealth Account, all his money would most likely
have flown right back out in the form of taxes or expenditures. Rick’s Wealth Account was going to feed his Wealth
Cycle and keep that money cycling into more money, forever.
The Cash Machine was the next building block for Rick. Getting a man committed to the commute to quit his job
is nearly as much fun as pulling gum out my kid’s hair. Rick Noonan had been a company man for years. The idea
of venturing out into his own business did not appeal to him.
“I wouldn’t mind doing my own business if it was an investment fund, like owning real estate,” Rick said.
“Well, that’s interesting, but not helpful, Rick. We need you to learn to earn by using skills you already have, in
an industry you already know. You’ve got to learn how to run a business. Once you know how to do that, you can
have a business in any arena you want. You need a Cash Machine that will immediately generate revenue to
accelerate your Wealth Cycle. You’re going to create a marketing firm.”
“I don’t want to help people market.”
“Fine,” I said. “Even better. You know other marketers and brand professionals, probably some who don’t have
jobs right now or are retired and looking for something to do?” He nodded. “Great,” I said. “You’ll hire some
marketing and brand management professionals you know to work with other businesses so that you can learn how
to run a business without having to do any of the actual service yourself. You just need to learn how to market the
concept and build a company.”
“I’ll try it,” he said, shaking his head.
“You’ll use the $10,000 in cash you have to pay for setting up the business and finding clients. Let’s give it two
months to ramp up. And let’s see if we can make you a $250,000 business in the first year. That would mean six
clients, each of whom needs 20 hours of marketing assistance a month. If you charge $200 an hour for those 20
hours, that’s $4,000 per client per month, which gets us to $24,000 a month gross revenue. If you pay your
contractors half, that’s $12,000 a month in pretax income to you.”