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Two of my biggest business influences have been Andrew Carnegie and Warren Buffett. Buffett in particular has had an enormous impact on me. The biggest lesson I learned from these two icons is simple. Hard work does not equal wealth. You do not get wealthy from what you do. You get wealthy from what you own. That idea raises an obvious question. If ownership is the goal, where do you start? For me, the answer was not ownership first, because I was too poor to buy ownership in anything. It was cash first. Starting an agency is the jumping off point to ownership, because it created a vehicle for me to generate cash. This is how it has worked for me, and I know it can work for you. LFG 🔥 Why An Agency Is The Best Place To Start One word … cash. Starting and building an agency may not be the sexiest business, but it has one overwhelming advantage. Agencies are excellent at generating cash flow. A lot of people want to start businesses that feel exciting. Products, media, software, or even AI companies. The problem is that most of those models take a long time to pay you. Agencies pay you fast. This is true for almost any type of agency. You could build a … - marketing agency
- SEO agency
- social media agency
- bookkeeping agency
- accounting agency
All of these models are great at generating cash flow. Everything in life is a tradeoff. What you gain in cash flow, you lose in margins. But that does not bother me because cash flow is the entire end goal for my agency. My agency won't make you rich, but it will give you the ability to get rich. Use Your Cash To Make Investments My lead generation agency has been an incredible cash flow machine, but it has not been my biggest profit driver. The real profits came when I put that cash to work in assets I could own. That includes … - Sober Nation
- Copyblogger
- Digital Commerce
- Bitcoin
- The stock market
This is where most entrepreneurs get stuck. They build an agency, get busy, and stay there. Service businesses are hard to scale to massive profits because they demand constant effort. Revenue goes up and down. Clients come and go. The work never really stops. That is the trap. The solution is not to abandon the agency. The solution is to use it as fuel. Become Your Own Private Portfolio My long term goal has always been to build a portfolio of equity in cash flowing businesses where I can collect checks and dividends without trading my time for every dollar. Become your own holding company. Use cash flow to buy ownership. Let ownership compound. Blue and Hazel Holdings is simply my execution of that idea. If you want to invest, you need capital. I do not want to borrow money or take out loans. I want a war chest of cash that I control and can deploy when the right opportunity appears. For me, building a cash flowing digital agency has been the best way to do that. It has allowed me to build my portfolio, stay out of debt, and live a mostly stress free life. Entrepreneurship is stressful by nature, but I do not lose sleep wondering where my income will come from. Warren Buffett taught me the value of investing and the power of ownership. I am not doing anything different. I just chose to start earlier in the chain by building the cash engine first. My agency is the funding mechanism for my portfolio. This is a simple process, and it is one you can follow. Love you guys. Talk to you tomorrow. Tim
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