Welcome back. Kris Krohn here. Today, I'm going to be sharing with you 3 ways
to make a million dollars. One of them I'm pretty sure you know what it is. The
other 2, I'm not so sure I think you're going to enjoy it.
What a fun conversation today --to talk about 3 ideas on how you could make
a million dollars or frankly a lot more money than that. So, here's what I'm going to
do for you. I'm going to share with you what the idea is. I'm going to share with you
what the formula is. And then I'm going to share with you some of the problems or
setbacks. And at the end of this I'm going to share my favorite of the 3. I
think you're really going to like it. So, let's get jamming. The first one is just
kind of this age-old. I thought I would throw at least one of these ideas and
that frankly is fairly traditional in nature. It's what you've heard of before
it's something that you're aware of is that when you read books like The
Millionaire Next Door. You know that the people who have an easy shot of making
money. Are people that number one are in a lucrative profession. And a lucrative
profession would basically be the jobs like doctors and surgeons and lawyers
that actually make really good money. And frankly as long as they're conservative
and really good savers, they can actually make you know a a million bucks they can
actually make multiple millions of dollars. I always found limitation with
that because your linear, right? You got to trade your time for making money and
so even though you make a lot of good money. There is that limitation. So, that's
kind of the problem but really here's the formula that I wanted to kind of
outline for you. It starts with you got to go to college, you go into debt and
then that third part is that you get to earn your way out of it. I'm not going to
take forever on this one because I think everyone here is actually probably super
familiar with exactly what it is that I'm talking about. The second idea
certainly gets me jazzed which is... Listen, if you've been subscribed to this
channel for a while, you know that I absolutely love real estate. You know,
lucrative profession has problems because you're trading time for hours. In
real estate, you're not doing that. When you buy an asset, that asset starts
working for you when you're not working for it.
So, I buy a house it would make me a few hundred bucks a month. I'm like, that's
pretty cool if it does that every single month and I'm like, what if I had 10 of
those? What if I had 100 of those? What about 1,000 of those? Hence
I've done thousands of deals. And I like that one it's also fairly automatable. So,
it's positive. The formula on this guy is pretty simple. I think that it is
important that you look for the real state that takes from you --number 1,
least time. Number 2, least effort. Number 3 right over here,
least risk and produces the most profit. Some of you have probably gotten your
hands on a copy of this book. I'd give it away for free to people. It's called
Straight Path To Real Estate Wealth. It shares the in-depth formula that I've
used for basically creating that wealth. You can find it in a link below and I'm
happy to send it out to you I think you'll enjoy it. Here's the upside that
real estate has over this and vice versa. A lucrative profession will make you
more money per hour now. Real estate is slower out the gate but it is not
requiring your time if you do it the right way or follow my instructions in
the book. So, both of these are valid they certainly work. I amassed my first net
worth of 1.6 million dollars by the time I was 26 years old. And since then have
gone on to make a lot more money build a lot more wealth have a lot more net
worth. And so Real Estate's valid. The third one though I think is going to
kind of surprise some of you especially if you've been watching my channel for a
while. And what I'm about to share with you, I haven't really talked about much
before. So, I think this is pretty exciting and I'm going to give you a really
cool fascinating blueprint for this one. Plus a bonus at the end of the video
that I think you're going to like. Number 3, make no mistake. Business in and of
itself can be a way to make millions of dollars. But today I'm not just talking
about business in general. Because the reality is the majority of businesses
fail. Which means that I don't like most businesses. I think most businesses are
really, really bad idea. I don't just mean that kind of business. I actually have a
formula for a specific kind of business. I call a stupid business. Meaning stupid
simple, stupid easy and stupid profitable. Here are my 4 rules that I want you
to be aware of when it comes to my formula for business. Number 1, you want
to do something in business where you can actually work in the arena of what's
called paid leads. Paid leads like that they usually don't work out. So it's a
waste. But if you could find a business like I'll show you in a bit, that
actually had the paid lead algorithm cracked. What that would mean is you can
basically buy as many leads as you want. If I buy a lead for a buck and sell
something for 5 bucks, then I trade one for 5. So it makes sense all day
long, right? Well, we've cracked the code way deeper
than that. Paid leads really means that your business can hit what's called a
maximum profit. And a maximum profit is super exciting especially when we're
talking about a business that can make you millions of dollars. The second part
of the formula that it needs to have which is really important to mean is it
has to be simple. Listen, the enemy of basically success in business is
complexity. Complexity produces complications. And when you have a simple
business... Like the business I'm doing right now here's shooting YouTube videos.
There's nothing simple about this business. Are you kidding me? Shooting
videos trying to help people having people. And you know, maybe you know
purchase a book or a course or learn a little bit for me to come out to one of
my events. Like that's a perfect example complicated. I do it because that's where
my heart's at and I love seeing the transformation and I love helping people
in really deep meaningful ways. But what I'm talking about here is actually what
I call a simple business. And simple means you could train everyone on how to
do the business in one or 2 days. That would be insanely simple. The third
criteria that I have for my formula is that I need to have a 50% margin. If that
just went over your head, don't freak out. Here's what it means. If someone gives
you a dollar, it means that you get to keep half of it after everything's paid
for. And most companies function on a 10% margin. Maybe a 15, rarely 20. I'm talking
about 50. That's my standard. If it doesn't have a 50% margin, I'm not
interested in it. And just wait till I show you what it is.
The fourth one at the end of this is what I call being a business owner
versus a business operator. Now, what is an owner and what is an operator? Just
because you own the business doesn't mean it doesn't own you. If you're
slaving away stuck in that business all day long giving it your time and your
thoughts and your attention, it owns you. Business operators get tired. Business
owners can get rich. That's where you basically say, "One of my rules is I have
to be the owner. I don't want to come in to the shop. I don't want to work the
nine-to-five." I find other people that actually do that and they become the
operators. These 4 rules are for me my personal formula. And I'm going to tell you
right now, there's a video popping up right here. I want you to watch it next.
This is the video that will actually show you exactly
what this stupid business looks like and I want to share with you why for me this
is actually kind of a cool thing. You see the reality is that most businesses hard
it's complicated and it doesn't have enough profit. Years of us in Hawaii. I
was in Maui. And down south, they had this Smith family fern grotto. And the family
had 4 generations owned this beautiful piece of land. And I think
they're clearing tens of thousands of dollars a day of people buying barge
tickets. To get on a barge. Go down the river look at this fern
grotto and then come back. And it's just an attraction in Hawaii. And I was like,
"What a stupid business?" Like how do you how do you screw that up? Right? I mean
you have a barge operator. Someone takes the money and that's it. Like it's pretty
stupid. So, for a decade I've been looking for businesses that are actually that
dumb that actually meet the 4 criteria that I'm actually showing you
right here on the screen. I found one of them. It's right here in this video up
here in the left corner. Go ahead and click on that, watch that and I'll reveal
exactly what that is. By the way, if what a fantastic way to make a lot of money
in a very short period of time. So friends, that's what I wanted to do with
you today is I wanted to share with you ultimately my approach to making
millions of dollars in at least 3 different ways. And just by review, check
it out. You can do it with a lucrative profession, you can do it real estate or
you can do it in business. And I'm even giving you specific real estate helps
but getting your hands on this book or specific business helps by watching this
video next. You'll find other opportunities in the description below.
You can do that. But please on your way out, do me one last favor. Smash that like
button. It smashes the YouTube algorithm and says, "Kris is doing something good.
His videos every day are worthwhile." And if you like the video then YouTube will
help promote it and share it with more people. So, that's meaningful to me. It's a
great way to give back. Other than that, thank you so much for watching today's
video. I will catch you on the next one. I'm excited to show you this really dumb
simple stupid business with a 50% margin. And you're going to crush it. I'll
see you there.