- Hi guys, James Sinclair,
with another video to help grow your business.
We are living in Corona times
in the Corona crisis
and governments around the world
are putting stimulus cash into their economies
and they're helping businesses by lending money.
One of the ways they're doing it is with this.
In the United Kingdom, it's called a BBL,
the business bounce back loan scheme.
Not to be confused with its cousin.
The CBILS loan scheme.
And CBILS is the coronavirus
business interruption loan scheme for bigger businesses.
And these all designed to help businesses
that are turning up to 45 million pounds,
which a UK government as decided that's an SME.
So that's most businesses.
95% of businesses are not turning more than 45 million quid.
And so you've got a number of ones
that we can get our hands on.
One of the simplest ones is this BBL loan scheme.
And I want to just quickly go over the facts here.
Now you can borrow the money with a simple online form
for wherever you transact your banking through.
So if you have bank accounts with Lloyd's bank,
then you borrow it from Lloyds.
If it's with NatWest you borrowed from NatWest.
And I think there's going to be some changes on that.
And there's going to be some more information
for other challenger banks like these digital banks,
like Starling bank, for example,
who are not yet a government provider of this money,
but I think they will be.
The question I want to know is
if you've got six years to pay it back
and the interest, guess what the interest is guys
2.5%.
So really cheap money.
And if you're a small cookie,
you'll be able to borrow that money,
plunk it into your business and turn it into a lot more.
And in this video,
I wanna give you the steps that I would be taking
to invest that cash if I was to borrow it,
to grow my business.
Let's go on and find out more.
So the question I'm asking is this,
what would I invest in right now?
What would I invest my own money in right now?
And if I was boring up to 50,000 pounds,
here's what I'd be doing in my seven step plan.
So the question is again,
this is what I'd be asking.
What would I invest in right now with this 50,000 pounds?
What would I, I, James Sinclair invest in right now?
If I had my own money and I was starting a business,
if I was to borrow that cheaply using the BBL.
Am just gonna tell you in this video,
exactly what I would be using that money,
to grow my business long term.
let's go.
Well, the first thing that I would be doing
is look to buy another business.
Oh yes shot call up.
I think there's gonna be tons of opportunities.
In fact, I know there's tons of opportunities,
cause I keep getting the emails
of people wanting to get out of their businesses.
There's gonna be loads of business owners right now
that are gonna lose what I call the three E's
Energy, enthusiasm and effort for the thing they do.
They won't want some money anymore.
And so you, the entrepreneur
can say, hello. I'd like to buy your business.
And you'll be able to buy these businesses very, very cheap
because the cost of closing for a business is astronomical.
Maybe there's a lease they've got in place,
maybe they've got some employees.
You can't just say to employees and a commercial lease
tadaa we're off.
Because there's usually personal guarantees
and some recourse in place.
So it's actually cheaper to sell the business
or give the business away to someone else
that's got energy, enthusiasm, and effort.
And ladies and gents I want that to be you.
And once you've got this business,
you put your energy, enthusiasm and effort into it.
And frankly, what I want you to do
is become a master marketeer.
What most people are,
are master operators of their business.
But the successful entrepreneurs that I meet
are always master marketeers.
They spend more time on getting customers,
keeping customers,
rather than operating their business.
And if you can do the same,
you'll be going like gangbusters.
So once you've found one of these businesses
that you can literally buy for nothing
or for very little money down
or pay the owner over a period of time
out of the profits from your business,
and I detail how you can do this in my book,
The Millionaire Clown,
and I teach it on the Entrepreneurs University.
Let me tell you about the Entrepreneurs University.
You can try it for free.
Hello. You can try it for free.
Where I teach you how to buy businesses,
how to scale a business,
how to use vendor finance,
where you pay the seller over a period of time
and the tax takes efficiencies of it.
But that's for another video
and I've made a load of that stuff.
But once you've bought this business
that I guarantee you can get
so many of these deals over the line,
we can literally buy businesses for nothing.
You then need to become that master marketeer.
The first thing that I would be doing,
with some of my 50,000 pounds,
I would invest about five to 17,000 pounds
of that 50,000 pounds,
into this.
One of these ladies and gents,
one of these and one of these.
Yes. Books. I've wrote three books
and I'm writing a fourth book.
Each books cost me about five to 7,000 pounds to bring out.
And the amount of well qualified leads
and customers it's brought to me is astronomical.
It's leveraged work.
You write a book,
you get a copywriter to tidy all up for you.
That costs you about 5,000 pounds
and a thousand pounds to go and record it on audible.
So you can sell it on Amazon and stuff like this.
So thats five to 7,000 pounds for a piece of marketing,
that's gonna build your authority
that will keep on working for you.
Each one of my books has generated leads into my businesses.
Given me authority.
It's got me on radio shows,
it's got me on other people's podcasts,
It's allowing me to speak on stage
I pitch and share my ideas,
which in turn has generated business for me.
The great thing about a book,
it keeps on working for you.
The Millionaire Clown I wrote six years ago
and it continues,
literally every single week,
sending me leads and customers into my business.
Fantastic.
So you go and buy a business
and then you become a master marketeer of it.
Say you go and buy, I don't know, a garden center.
Then you write a book about gardening.
Oh, fantastic.
Now everyone wants to get you on BBC Gardner's life
because you're an author and you've a garden center,
but there's loads of garden centers,
but not many garden centers owners have got a book.
Have they?
As soon as you've got a book, you're an author.
What does an author give you?
Authority.
And it's a funny thing that the word author
sits in the word or authority.
Think about it.
And once I've got this book,
I would also start a podcast.
For a few hundred pounds of my 50,000 pounds of BBL loan,
I could go out and get a swanky microphone
and start producing a daily podcast.
And you can release a podcast on anchor,
which is a free to upload program
and then you can get it on all over Spotify
and the Apples and all of that.
If you wanted to go one step further,
you can get one of these snazzy mixing desks.
That's gonna cost about 600 pounds and a bit jingles in it.
It records it all on there and wooooh you're away.
So yes, I'll be investing a few hundred pounds
in some decent audio equipment,
so that I could bring out daily podcasts,
like the book that will continue to work for me
and drive authority into my business.
The authority doesn't stop there
because yes, ladies and gents, you're watching me on video
and you're joining me on my YouTube channel.
Now I'm actually making these videos
that you're seeing right now
on an iPhone and an iPad
because my videographer's in isolation,
I'm in isolation,
but what makes them really good
is that I've invested in a Bluetooth microphone
so that we have decent audio quality.
So I'll be making as many videos as I can.
But understand that the audio
is much more important than the visual.
No one wants to listen to shoddy sound.
They want to make sure
that they have their sound as Crispus can be.
So audio first on a couple of hundred quid
could buy you a decent microphone
so that you can improve your videos.
And then you share what you're really good at
to help people grow their thing.
Whether it's gardening, cooking, business advice,
property advice, whatever it is,
get making some videos
and that's leveraged work again
because a YouTube video never disappears
and it will continue sending leads
and customers into your business.
Next, I'd be thinking about
if this business that I bought,
maybe say, I bought this garden center business.
This is just made up by the way.
But I bought this garden center business
and I've realized they're not very good online.
So I would then leverage that and employ a web developer.
I would use some of my 50,000 pounds
to employ a web developer
so that I could pay their salaries
for the first three months.
It shocking just how useless
still some established businesses
doing six figure revenue plus are not developed online.
And they are missing so many sales and opportunities.
So even if I wasn't buying a business,
and I was still borrowing a BBL loan.
I would invest some of that money in a salary
for a full time web developer
to make sure that your business
is going like gangbusters online,
because that is one of the quickest ways
to grow your business.
And I'd also be employing a PA office manager, bookkeeper.
It's shocking how many business owners
are doing those mundane tasks in their business.
Frankly, guys, you should be operating.
No. Sorry. you should be growing your business,
not operating your business.
Employ someone to do all the menial tasks in your life
so that you can do the higher value tasks.
If you're doing tasks as a business owner
that you can buy in for any less than 50 pounds an hour,
then you shouldn't be doing it.
See going out there, driving turnover, getting customers,
these all high value tasks,
and that's what you should be doing.
So let me explain this to you again.
So there's three stages of building a business.
Solopreneur, entrepreneur, investerpreneur.
the solopreneur. Well, the clue's in the title.
You work solo.
Well, when you work solo,
you're never actually building something
that someone wants to buy when you exit.
So I'd be using some of this 50,000 pounds
to invest into team members.
That's right ladies and gents.
Employ a couple of people,
a web developer and an office manager
so that you can be so fantastic with your time.
You can go out there, do PR stuff,
find deals, do deals,
and be really good online
to sell more stuff than you've ever sold before.
And then your PA does all the boring stuff in your life.
Answers all the customer emails stuff,
manages your life, helps you out, gives you more time.
And that is crucially what successful people do.
Successful people buy timing,
unsuccessful entrepreneurs sell their time.
Do you understand that?
That's what a solopreneur does.
They swap time for money.
An entrepreneur,
Well, they're buying in time,
so they have more time so they can get more stuff done.
And the investorpreneur, the top of the pyramid,
they don't just build profitable businesses,
they build profitable investments.
First stage, profitable job.
Second stage profitable business.
Third stage is building a profitable investment.
Actually something someone wants to invest in
and buy off of you.
If you found this video useful,
I'm very happy about that.
Make sure you comment below.
Let me know what you think.
What would you invest your 50,000 pounds worth of BBL money?
Because I might make a part two video of this
once I've heard from you.
And I've got a cheeky little plug for me,
because I would like you to take part in the eighth point,
which is investing in yourself to grow your business.
You need to learn how to be on Amazon prime.
How to lift Facebook ads,
how to employ the best people,
how to find the best people.
And I teach all of that in my Entrepreneurs University,
which ladies and gents, you can try it for free.
Yes, you can try it for free for the first 14 days.
See if it's right for you.
And we'd love to get you there.
If you've loved this video,
then click this video here
because it helps you grow your business
and subscribe to the channel by clicking here.
Let me know what you thought of this video
in the comments below,
I'll be in James Sinclair.
Bye bye
(upbeat music)