How to Create Wealth with No Money

Hi everybody, this is T. Harv Eker. The biggest reason most people don't start a business is because they believe they don't have enough money to start a business. But you know what? You don't need a lot of money. In fact, in most situations you don't need any. Let me repeat that, any money to start a business. And in this video, I'm going to share with you my favorite strategy for getting started in business without having any money. Are you interested? Stay tuned. Okay, so we know that kind of money is involved in business, both inflow and outflow, and that there's certain expenditures that have to be made in business.

So how do you go about.

How do you go about starting a business without any money, especially your own money? Well, obviously there's many ways. One way, of course, is to get other people to fund the business. And how do you do that? Well, if you have the idea, then you can get partners and you can get people who are investors, etc, etc. And you know what? Most IPOs and companies that go public, the founders might start with just a little bit of their money or very little at all. I've been involved in investments where the founders put none of their own money up. But they have something. They have a formula, they have a patent, they have a something that they have. And now they just need the money. I want to let you know something. When it comes to this, I am a major investor and I can tell you this. What most people don't realize and what I didn't realize when I was broke or even, you know, kind of middle in the area of money, is that there's more money looking for good ideas than good ideas looking for money. Let me say that again. There's more money out there that are just dying looking for great ideas than there is the other way around. And what does that mean? You've got to be great at whatever part you got to bring something to the table. And what you bring to the table might be skill, it might be an invention, it might be some, some intellectual property. Whatever it is you bring to the table, you bring that. Let me give an example of this because this is really critical. Real estate. Real estate is a great way to create wealth. Yes or yes. And I can tell you that I know many, many, many people who started with absolutely none of their own money. And of course you can do the fancy stuff with the banks and the this and all that. And that's great. But the easiest way is this. Find a freaking piece of great real estate, okay? Whether it's for cash flow. Whether it's a flip, whatever it is, you find it, you tie it up, and then you look for money. And there will be more money looking for you than you looking for money, because people are always looking to make money to get into a good deal. If you find a situation that's a hot situation, that's golden. So you bring the opportunity, they bring the money. All right, Simple. Now, let me give you, when it comes to standard business practices and you're going to open up any type of business, here is the way, the number one way that I teach for people to start with little or no money. Let's go. Here it is. I started with a $2,000 credit card loan, and I opened the first store of a chain of retail fitness stores in the world. Okay. You know the retail fitness store, they sell rowing machines, exercise bikes, weights, treadmills, etc. Well, there weren't any stores. I opened the first one, and I opened ten stores in two and a half years. But I started with a $2,000 credit card loan. So what did I do? Very, very quickly, here's what I do. I want you to listen closely because you can do this, too, because there's a name for this method. Here it comes. All right, So I had this store. There's nothing in the store. There was no sign. There was nothing. I got. I talked, persuaded one of my suppliers to front me one rowing machine. One. Just one. It took a while for him to do that, but I pleaded and begged and. And, you know, you know, did everything I could. And he finally, he said, okay, I'm going to ship you one rower, and that's it. So he did that. What I do, I took the box, I broke the box apart. I wrote on the box, world's first fitness store coming soon. Okay. And then I proceeded to get the rowing machine ready in my window, in my window, there was a sill. It was a large sill. I put the rower in there. I moved the sign up and took off the coming soon and put in cross it and say here now. All right, here I was sitting in the window of this retail store with pretty good walking traffic and driving traffic, of course, good walking traffic. And here I was doing this rowing machine, demonstrating the throwing machine. Here I was with this rowing machine, and people are looking at me like.

What the hell is this guy doing?

People would come in to the store and say, what's going on? And I would do this whole demonstration showing them all the things that this incredible rowing machine could do. It has seat lock. You could do bicep curls, tricep curls, crunches. You do the aerobic part. You could do your legs. You could do everything. And they go, wow, this is amazing. You know, how can I get one? I go, well, I'd love to get, get you one, except they're all gone. They're, they're, you know, you can't get one right now. The only way you can get it is if you give me a deposit. I have more coming in in a week. And they go, okay, how much is the deposit? I go, $395, which was the full price. They go, but that's the full price. I go, right, if you want it for next week's shipment, you have to take care of the full price deposit. If you want to wait a couple of months, you can just give me $100. It's okay. They go, oh, no, I want it right away. Okay, fantastic. And I took the $395. Of course, this would continue and continue and continue. And I would keep on taking deposits for rowing machines that I did not have. Okay? They were in Seattle at the warehouse. And I was in Toronto, Canada at the time, in my little store with the one rowing machine. It's is all I had there. And so I would finally. So Now I got 10 deposits. I would call up the guy and order what, 10 rowing machines. They would come in, we would got to get a bunch of kids, put them all together. And here's what I did. I would have these 10 people pick up their rowing machine on Saturday. But you can only get it between 11 and 12 o'.

Clock.

They said, why? I said, that's when we're, we're, we're distributing them after that, it's got to be the next week. So they all came. Now, when they came to pick up these rowing machines, what do you think happened? Well, all of a sudden they're coming and their family's there, etc. The store is busy, and outside the store is busy and they're all walking out with these big boxes of rowing machines. And people are looking at them going.

Like, what the heck's going on?

So they would come in the store and I would do the same demonstration and then I would take a deposit on the rowers, et cetera, et cetera. Now this went on and on, and pretty soon it was 20 rowers at a time, then 50 rowers at a time, then 100 rowers at a time that I took deposits for. Deposits for and full, in full. And then would order the 100 rowers, right? And then guess what?

They all had to pick them up between 11 and 12 o'.

Clock. It was a mad house. So much. Listen to this. So much so that I got a visit from the police chief of traffic and he said to me, he said, you're causing a problem in our traffic patterns. I said, what are you talking about? He says, cars are stopping in the middle of the main street here. And it was one of the main street in the city. They're stopping in the middle of the main street to come into your store thinking they're going to just pick up whatever there is. They can't stop. This is causing backups all over for.

Literally for half a mile down the road on both sides. What's going on here?

I said, they're just picking up their. He says, listen, if you want to continue to do this, the traffic has to move. You must hire two police officers to direct traffic in front of your store. You know what I said to him first in my mind going, what? I go, how much is it? He goes, $75 an hour. I went to myself, oh, my God, that's crazy. But then I thought to myself, oh my God, two police officers in front of my store. Like, the optics are going to be crazy. So I said, yeah, fine, let's do it. So of course, police officers showed up at. At a quarter to 11. They had a minimum of three hours, which I didn't care. And once the police officers were there, it was insane.

People thought we were giving things away, like it was some kind of fair or something, free thing, whatever, right?

So they.

That store was packed. And guess what? I had nothing else in the store, Just the one rower.

I didn't.

Why would.

I was in it now for literally over two and a half months and.

Still had one rower in my whole store. And what I do is I had no money into it.

I pre sold. What's the word? Pre sold. What's the strategy? Pre sell my product or service before I had to pay for it. And you can do the same even if you're a consultant, right? Not that you need a lot of money necessarily to do that, but in anything that you're doing, you take a deposit. And the deposit could be a large or it could be small, or it could be the whole thing. You get paid in advance and then you utilize that money to get whatever you need. So I call this customer financing. Customer financing. And you know why it's the best way? Because first you don't need any money. Secondly, you make customers happy. Third, you get momentum. But the critical thing is you know for sure that your business is going gangbusters. You don't have to put up any money. And I love this method. And I can tell you, I have over 3 million students and I've taught this to hundreds of thousands. And the reports that I've gotten back are phenomenal. You can do this. You can start any business with literally no money and pre sell what you've got and then go buy whatever you need to get for supplies. I love you. I'll see you next time.

Sa.