How to plan your empire

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Hello and good evening. I'm Katie McManus, business strategist and money mindset coach. Coming to you live on a few different places. I'm going live to the Facebooks, to LinkedIn, to YouTube, to Twitter, and also to Instagram on my phone over here. I wish I could show you guys my setup. It's. There's a lot going on but unfortunately if I try to show you, you wouldn't see it because all my cameras are here. Anyway, good evening everyone. I am so excited. Okay, so today was the first day of the build your own business big beginner program like cart open. People were allowed to sign up for the first time and so far we have three incredible human beings who've already signed up. We have a couple bonuses that I want to just let you know about before we get into the topic for tonight, which is about building your empire and what you need to think about to do it. So if you want to get a free one on one one hour session with me, which usually goes for over $1,000, you have until midnight tomorrow night to sign up for that. Now if you want more information on the build your own business group program and you're not ready to just buy it from website, totally understand. If you want to talk to me, go to the link that's in the description of this live and if you're on Instagram, it's going to be somewhere, I just didn't put it there right away. And just book a time to talk with me. Okay? And if you book a time and it's not tomorrow and you want to talk to me sooner, just shoot me an email after you get the confirmation and I will find time to fit you in tomorrow. I don't want anyone to miss out on this. It's going to be so super fucking valuable to anyone who's wanting to start their business because you're going to get my brain just all to yourself. But anyway, that's not the topic for tonight. Tonight I want to talk about. So there's one client who signed up with me recently this evening. One of the questions that he had because he has a service based business and he wants to start a product based business. Now if you know anything about me, you know that my specialty is service based businesses. I don't do products, I don't do restaurants, I don't do retail or anything. Oh gosh. So his Question for me was like, how does he do both? Right? And so I love this question and because it really helped me explain to him how I think about this and I wanted to share this with you. So whenever you're thinking about starting a business or starting multiple businesses, here's the question I want you to start with. Which one is going to be my fastest path to cash? That's it. Which one? Are you going to be able to get clients as quickly as possible for the least amount of capital up front and get some cash? Because here's the thing, cash gives you options. When you're making money, you have options. Okay, so say, say you have a service based business. Maybe you are a wedding planner. Planner, okay. And you also really want to start a bakery and maybe like a bridal store. I don't know you. I highly recommend going with wedding planning first. Okay? It is going to be your fastest path to cash. You're going to be able to show up, provide your service, get happy clients. You're going to be able to build a ton of, ton of relationships within the industry, right? Because you know, you're, you're getting cakes for people and you and all the things. And when you have enough capital, you're going to be able to turn around and either hire a mentor who can help you establish a bakery who's done it before, or you can buy an existing bakery that already has a loyal clientele or you know, any number of things. But your first step should always be looking for that fastest path to cash. How can you make money right away from doing something? And I just want to own also that sometimes this service, especially if you have like big dreams and you want to have an empire, sometimes that first service is not something that you're going to be hyper passionate about. And that's okay. That is absolutely okay. It's going to give you a ton of options down the line. Now, I don't know, gosh, what's an example of this? So, okay, so let's say you're a realtor. I want to just give an example of how this looks in real life. Okay, so say you're a realtor and you want to start establishing some passive income or you know, like not as involved income as, you know, selling houses and getting commission. Now one of the ways that you can do this as a realtor, since you're there anyway, is you can start buying properties and renting them out. So say you buy a couple apartment buildings and you're renting them out. Your next move could very Easily be to buy or create a property management company. And that property management company you can use in your properties, but you can also farm it out to other renters or to other landlords for their properties, right? And you can start thinking about what are the other verticals that are connected to the thing that you do already, right? So if you are that landlord, you know what else you're going to need? You're need plumbers from time to time, you know, so maybe a plumbing company is next. You're going to need landscapers, right? Because hopefully you have like really nice landscaping outside if it's, you know, in the suburbs and you want the residents to be able to enjoy the property. And you also, you know, you can charge more money for the rent if you. The property looks really nice. You could buy a moving company. I was just talking to my friend David Fryman about this. You know, you could absolutely buy a moving company, construction company, whatever kind of company. And they would all feed together, right. The reason I'm bringing this up is being. I know, because Build your own business. Beginners for absolute beginners. This is like a big talk for, you know, folks who are just trying to get their first couple clients. The reason I bring this up and the reason I wanted this one client to start thinking there because I know he has like a ton of potential, he could grow this empire to whatever he wants it to be. The reason I bring it up is because you're never going to trip and fall and accidentally land in your ideal business. You're never going to accidentally tumble into this empire that you've created. You have to reverse engineer it. You have to be strategic about what you're doing and when, okay? So even if you're just starting out, if you're working a full time job and you're wanting to do this on the side, there are a couple things that you're going to have to be very strategic about. And I told them to this client just this evening and I'm going to tell them to you. And I wrote them down just so I wouldn't forget because it's late and I've been working all day and it's been a very long week. Okay? So number one is you want to be very economical and conscious with your time. Okay? So if you're working full time, full time, that's already 40 hours of your week that are accountant for accounted. I can't speak. That are accounted for and that you're not gonna be able to do anything with. Okay? Now if you are starting A service based business on top of that. Let's just assume. So, my friend, my, my client, Adam Kimmel was able to grow his copywriting business from $33,000 to $150,000 a year. Okay? 33,000 to 150,000. All right? That's what, $117,000 more while only working 10 to 12 hours a week on it. Okay? So that is 100% possible. Okay? If one, if Adam can do it and he's brilliant, I'm not discounting his brilliance, but he, you can be as, just as brilliant as Adam, okay? If he can do it, you can do it. But the reason he was able to do is because he was so conscious with his time. Okay? You have to be just as conscious with your time. You, if you want to grow this side, hustle to something else, then you need to figure out how to work smart, not hard. All right? So I want you to be really, really conscious about how much time you're signing up to give to your clients. Right? And I'm not saying like you're going to shortchange them on time or anything. I'm just saying you're going to be very conscious about, like, what is your scope of work? Are you hiring contractors to do some of the stuff for you? Are you just going to be a consultant? Are you going to do some stuff for them? You know, you get to be very decisive here and you get to set the rules. This is your business. Okay? I had this co worker when I worked at Equinox. She's actually my roommate for a few years. She was so funny. Emily. You know, I remember when I first started out at Equinox, I was so squirrely and like uncomfortable following up with people, like, oh my God, they're gonna think I'm bothering them and all stuff. And she used to be like, nuh. They walked into my house, they asked for my time. Like, they owe me answering the fucking phone when I call them to follow up. Because I asked them if they wanted me to call them and they said yes. And so why did I bring that up? Oh, I don't remember why I brought that up. Anyway, so you get to be very conscious about your time. You get to. Oh, that's right, that's right. You set the rules. You said it's your business, you set the rules for your time. Okay? Whenever you're open, your clients are going to come and bother you, then not bother you, but they're going to want to work with you. If you answer emails past 10pm guess what? They're going to start expecting responses past 10pm if you promise a certain turnaround time and always deliver early, guess what? They're going to start planning, planning on. They're going to start planning on that early delivery. They're not going to start planning on you, on you getting it to them when you say they will. All right? So you want to be very conscious about how you are controlling the time of your business and how much time you're giving to it, all right? Because you have, you're working 40 hours, maybe you're working 10, 15 hours in your side hustle business and making money from it, and that's fabulous. But you also need to have some time off, okay? Because you're never going to be able to grow an empire if you're burned out. It's just not possible. Okay? Now the other side of this is you're making money in this, in this business that you've started. You're providing the service. It can be so exciting and so easy to get like a little, you know, celebrity and want to go and spend that money, right? Don't do it. Okay? You can absolutely go and treat yourself here and there. But if the goal is to turn around and grow this into a greater empire, I don't want you moving into a more, more elaborate place. I don't want you getting a better car. I don't want you upgrading a ton of stuff in your life that you then have to keep up with it. No, I want you putting that money into savings, right? Because if the goal is to grow this into multiple businesses, guess what you're going to need? You're going to need some capital. You're going to need some cash in the bank to either put a deposit down on a pre existing business or to hire a mentor who can help you figure out how to start it from scratch. You're going to need those funds, okay? And it's going to be so tempting. This is why I do so much work with my clients about money and your relationship with money. It's going to be so tempting to have this cash and just like feel it, burn your pockets and like want to go spend it. No, I want you to set your sights on what is the next thing that you want to invest in and create an account that you can't touch that you're putting that money into. And you're going to be setting yourself up for an incredible future if you do this. You know the next thing, the third thing that you really need to look at is what are you going to buy? What are you going to be spending this money on? Okay. You want to start looking for mentors years before you actually need them? Okay. You know, I have hired really incredible coaches in my past. I've also made some devastating, awful choices in coaches that honestly, like, the last bad coach I had honestly took me about six months to, like, really emotionally, mentally recover from. It was so devastating and, like, really toxic. I wish I had been following this person for years and years and years before signing up with them. Unfortunately, I hadn't. And, you know, it's just, it's. I want you to learn from my lesson. Like, start vetting people years before you need to work with them. Case in point, you know, I. I decided to work with Neil Valeo, who helps me with my podcast, like a year before I even talked to him. Okay. I saw his content on LinkedIn and something about it just resonated with me. I love that he was no bullshit, because I barely know bullshit, and that kind of, you know, fits me. And I don't know, like, there was just something about him. I was just like, that's the one. Like, if I'm going to start a podcast, that's the guy I'm going to start a podcast with. And. But I didn't, I didn't reach out to him. I didn't tell him I'd already hired him in my head. I just paid attention, paid attention and I watched what his engagements were like. I watched, like, you know, who he was friends with. I saw what kind of comments. Hi, Raz. Welcome. I saw what kind of comments he left on other people's posts, and I was really vetting him as a human being kind of subconsciously, but also consciously. Now, as you are building this business, as you are building your side hustle and you're saving this money, I want you identifying who those mentors are that you want to hire in the future. Okay. Because part of this is you have to be able to save up money to be able to invest with them. As I love you too, anyway, you need to be able to save up money to go and invest with them. Now, the other side of this is if you are wanting to grow a multi business empire, can't wait to execute on all these insights. Yes, I can't wait to help you. Oh, my gosh. If you want to build a multi business empire, the other thing, like I mentioned, you're going to have to have some capital to invest in these other businesses. Now, my next adventure for myself, and I'm so excited for this is buying pre existing businesses and improving them and expanding my empire that way. I haven't done it yet, but the strategy is fairly straightforward. And so even though I haven't done it yet, I want to start pointing to this because if you're in my world, I assume you are fairly ambitious like I am. And you're never going to get there if you don't reverse engineer what you want and figure out what it is that you need to do today. Okay? So today the one thing I want you to take away from this live is I want you to start thinking about what is your fastest path to cash. Usually it is offering a service to individuals or maybe businesses where you are doing a service or some kind of consulting for them and getting paid for it. Okay? Very little investment up front for you, which is good news. You can just start making money pretty much from go and you can save that money to invest in other businesses in the future. Okay, I cannot wait. Let me just tell you, like this is my dream. I cannot wait for like 10, 15, 20 years from now to have someone who's watching this video, I don't know, I have a lot of lurkers right now, someone who's watching this video to reach out to me and be like, oh my God, like that was, that was the start. That was the start. I heard you say that once and here's where I am now. This is, this is what I own, this is what I'm generating, here's how I'm helping my community. This is what my family gets to benefit from. Okay? That is my dream and I hope someone will hear from me right there. Anyway, that's all I have for tonight. If you have any questions about the build your own business group program, this program is foundational to you. Starting that very first service based business that's going to start bringing in cash so that you can start building other foundations for the rest of your empire. If you want to sign up, you have until tomorrow night, Thursday the 29th at midnight Eastern time to get a free one on one strategy call with me. These usually go for over $1,000. You're getting that for free. And I never do this. Like I actually don't know if I'm ever going to do this again because you know, depending on how many people sign up, I might run out of time. So anyway, you have until midnight tomorrow. If you have any questions, if you're not ready to sign up, but you want to find out more information and you just want to see if it's the right fit. I am totally there for that offering a lot of time tomorrow if you want to get on a no pressure call just to find out more information, see if it's the right fit for you. Go ahead and click the link in the description of this live and just schedule something. If you don't see anything available for tomorrow, then schedule anytime. Literally. And then when you get the confirmation email, just respond and tell me you want to talk tomorrow and I will find time to talk to you tomorrow. Either way, I hope you have an amazing Wednesday and I'm going to be going live again tomorrow. I have an exciting adventure tomorrow morning also and I cannot wait to do to like show you the video. My friend Jesse Cohen is going to be meeting me near Boston for something. I wonder what. Anyway, thank you so much for joining RAZ and for all my lurker lovey lovelies. I love you all so much. I'm Katie McManus, business strategist and money mindset coach. Have a great night everyone and I will talk to you soon. See, I got a hand.