how's it going everybody I am Mike the
CPA welcome back to money and life TV
the channel that people come to to learn
about finances investing and taxes! I
have a question for you guys
when you think of investing what do you
typically think of well for most people
it's usually stocks come to mind bonds
real estate and for some even Bitcoin
but what I found is that most people
miss the greatest investment opportunity
of all because it's the one they think
about the least and that investment
opportunity ladies and gentlemen is the
chance to own and operate your own
business if you watch my video the main
differences that separate the rich from
the poor you will quickly learn that the
greatest opportunity to build wealth and
financial security for you and your
family is to own and operate your own
business go ahead go look at the Forbes
fortune 400 list and you'll quickly see
that most of the people on that list are
business owners example after example
after example is laid out right there in
front of you but seriously who cares
about how rich those people are in their
millions their billions gazillions
whatever amount of wealth they're up to
now really for most people and for
myself I really don't need that much
more money to be where I want to be
personally if I had an income of two to
four hundred thousand dollars a year
that would be more than enough in fact
if I had that type of income I would be
in the top five percent of income
earners in the country and the closer
that income got to 400,000 at that point
I would enter the 1% the top 1% of all
income earners
within the United States
there's all this talk about the secret
to building wealth but the truth is
there really is no secret and you've
probably known the secret all along deep
down inside of you you've known that
running your own business is probably
the most lucrative thing you can do but
maybe you never had the courage or the
belief to actually pursue it I'm not
sure if most people are aware of this
but right at this very moment is one of
the most opportune times in all of human
history to start your own business we
have more resources tools technology etc
than any other generation in history so
if you've ever thought about becoming an
entrepreneur literally right now is one
of the best times to do it how many
people do you know go through their
entire life thinking that their income
is only what their employer is willing
to pay them they're stuck they don't
think their income could ever be higher
they're only worth what their employer
thinks are worth how many people do you
know who think that way now to back up a
little bit and to be clear I'm not
encouraging anyone in this video to quit
their job in fact for most businesses
now you can actually keep your current
job and make an income from that while
you start your business start your
business small it doesn't have to be big
just start small and go from there find
something you're passionate about find
what you're good at and start to do
something on your own on the side to
start to make some additional income for
yourself I encourage you to ask yourself
what are you already good at what skills
do you already possess that would allow
you to use some of those skills to
generate additional income for you
outside of your job I'm giving you
permission to go give yourself a raise
you don't have to wait around for your
employer to start appreciating you you
don't have to do anything extreme start
small many businesses can be started now
with very little money the only thing
you need to put in is sweat equity
besides if you wait around for your
employer to actually start appreciating
you you might find yourself waiting a
very long time now I know what some of
you are thinking you're saying Mike I'm
exhausted I'm already working like a dog
I'm already tired I can't stand the idea
of working more and I don't have any
spare time
I hear where you're coming from and
maybe right now
maybe you can't take on anything else
like starting your own business and
that's fine but if you're somebody out
there and you find yourself wanting a
change wanting to do something different
something you're more passionate about
something that could be very challenging
that you've never reached for before
then I would encourage you to look into
starting your own business in 2019 and
I'm not going to even begin to tell you
that this is gonna be easy this could be
one of the hardest or most challenging
things you've ever done in your life but
from my own experience of even just
launching this YouTube channel it's one
of the most rewarding things I've ever
done in my life I have three questions
for you right now
one can you actually do what you love at
your job and make money doing it too do
you expect your employer to give you a
significant raise of ten thousand twenty
thousand or more in the near future
three are you working the schedule you
desire how much flexibility do you
currently have for me I was lucky enough
to even be able to answer yes to one of
those that the flexibility question
number three I really like my job a lot
I'll be honest with you guys I really do
enjoy what I do at work
but my job is not who I am it is what I
do to make a living I'm very grateful
for what I have but I want to do better
I don't want to wait around for somebody
to decide when they're gonna pay me more
as you guys probably have already
guessed my true passion life is teaching
and I used to actually before I ever
even became an accountant actually used
to be a substitute teacher and taught
math but really the subjects I'm
passionate about teaching our finances
investing in taxes because I feel those
are skills that are so necessary to
learn in the world we live in today and
you really can't learn them anywhere
else
God knows school is not gonna be
teaching that stuff anytime soon when I
make these videos for you guys I'm not
gonna lie it takes a lot of work it
could take me anywhere from 10 to 15
hours a week to produce some of the
videos I make on this channel but I love
it I absolutely love it and it's so much
fun to produce something be be able to
be creative on my own terms my own terms
nobody else's and get to share all this
with you guys if you're able to make a
business around something you really
enjoy doing I can tell you right now
from my own experience and from the
experience of other entrepreneurs it
doesn't feel
like work it's not the same as going to
work at a job you hate or even a job you
like it's a different filling altogether
this is my second year into the channel
and at this point I've been able to help
hundreds maybe even thousands of people
across the country and some people I've
been able to interact with and actually
different parts of Europe France South
America etc it's it's pretty incredible
where this where these type of
opportunities can take you now I'm going
to share some stuff with you just about
this channel that I've never shared with
anybody on camera before so my whole
first year on YouTube I worked my butt
off and my whole first year I made 142
books
142 bucks I would have made so much more
money working part-time at McDonald's
but that's okay because this channel
gave me an outlet to one do something
I'm passionate about to help people in a
way that I've never been able to help
them with before and three make a little
bit of extra money doing it now going
towards the end of my second year the
channel has cleared over $4,000 in
revenue and it's growing faster than I
ever imagined this will be the first
year that I actually get a 1099 from
Google so I'm pretty excited
clearly four thousand dollars is not a
lot of money like I just said but when
do you expect your employer or whomever
to give you a four thousand dollar raise
for next year or more when is that gonna
happen for you ask yourself be honest
with yourself when is that going to
happen
so in my case the way I got started is
and I was a few thousand bucks instead
of investing that money in my 401k or
the stock market instead I decided to
invest that money into buying equipment
camera computers etc to launch this
YouTube channel and I do not regret it
for one single second I know this
example is an overly simplified example
but it doesn't have to be complex guys
there are so many more ways to make
additional income now in today's economy
and as you guys probably know from
watching my other videos in this series
there are it's act I feel it's
absolutely necessary to make more income
it's more important than ever to make
more income than it has been in the last
100 years with the cost of living and
how fast it's rising seriously even if
you could just make a few extra hundred
bucks a month how
would that help you how much quicker
could you pay down your student loans
that whatever or even invest for
retirement just imagine how fast that
money could compound if you're
constantly investing more money every
month into retirement
it's amazing what that money can grow to
so starting right now I want you guys
thinking about what are you going to do
to start raising your income next year
whether through whether it's through
investing or your own business what are
you gonna do to start to take control of
your own financial situation and not put
it all in the hands of your employer
remember guys I'm not encouraging to
quit your jobs you can keep your jobs
you can find a way to do that and still
launch your own business and start small
and grow it from there save up some
money from your job from your job is
your cash cow for most people their job
is their main source of income so keep
your cash cow don't kill it off and use
that money invest that money into your
own business and buy all of your
equipment and things debt-free so you
have no pressure on your shoulders and
go ahead and get started
all right guys I'm gonna share something
with you I've never shared before on
camera so before I ever launched this
YouTube channel you know I was branded
to this I have no background whatsoever
in filmmaking
video editing or nothing okay I have
zero education in this I had to learn it
all by myself and so I spent before I
ever spent a dime investing in any
equipment that usually I see these camps
is the camera that you're looking at me
from these ring lights and all this kind
of stuff
I studied YouTube for three months
straight
I watched countless hours of videos of
how to do YouTube I searched you know
how do you rank in search how you create
thumbnails I learned about all the
different types of software that are out
there that people can use that at videos
and so there's all these things I
studied before I ever spent a dime and I
would encourage you to do the same is
before you ever launched your business
study your business are your trade
whatever you're thinking of doing study
it as much as you can learn as much
about it as you can for free before you
ever invest any of your hard-earned
money by investing the time to learn
about all that stuff before ever
launching the channel it has is really
helps and I really appreciate all the
support you guys give me on this channel
clearly I'm not telling you to do
YouTube I want you to do whatever you
feel you're best at because there's a
lot of ways to make money quicker than
doing YouTube YouTube is a very slow
growing business so that's it's it's
something that usually doesn't happen
for most people overnight but the point
is is to find what you're passionate
about and what you think you could be
good at too and make money doing it on
the side one of the perks one of the
biggest perks of doing your own business
is you unlock all the tax advantages
that business owners have when you
decide to launch your own business
there's a lot of tax breaks that aren't
available to employees but once you come
over to the business side things start
to change more and more in your favor
when you start your own business and
when you invest now I know starting your
own business is not for everybody and
that's fine but I at least wanted to
encourage you or think about the idea
take into consideration for yourself in
2019 and 2020 if you decide to launch
your own business
take it slow learn as much as you can
for free over the internet reading
articles publications
very etc take it slow watch your money
management don't overspend get some
revenue coming in and take it one step
at a time remember guys if this sounds
big and scary but you can start small
and grow your client base our customer
base from there as I wrap up this video
I'll leave you guys with this today we
live in a world where most people are
further in debt than ever before the gap
between the rich and the poor has
probably never been wider than it is
today or at least not in my lifetime
many adults can no longer afford to
purchase a home even adults who work in
a well-paying jobs are struggling here
in California where I live I've never
seen as many homeless walk the streets
as I do today despite all these
challenges history has proven to us that
the greatest investment time and time
again and the fastest are one of the
best ways to wealth is to work for
yourself or launch your own business we
all have different gifts it's time to
find what your gift is and how you can
make money doing it launching your own
business is gonna give you more control
over your financial future more than
anything else you can do now it's time
to hear from you guys I would love to
know what you guys think about starting
your own business would you ever even
consider it if so what kind of business
would you consider starting would it be
something internet-based would it be
something like a landscaper plumber
launching like a physical store selling
products selling services what what
would what comes to your mind when you
think about launching your own business
what truly motivates you what have you
always wanted to do but have been too
afraid to do it let me know down in the
comments I can't wait to see what you
guys have to say about all this if you
guys liked the video today make sure you
crush that like button down below share
this information with a friend
especially somebody who you know who
needs either make more income or has
thought about starting their own
business and if you're new to money in
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video it's always a blast hanging out
with you guys I love you all have a
great week
stay chill and I'll see you in the next
step
zone and live life on gauged bye guys
peace
