Hello MJ,
I've been reading over your materials (great by the way) and had a question. QUESTIONS: You mention that we need to own and control which is kind of where I'm a little held up
One of the famous sayings I've always went by was to "Own nothing, control everything" I'm also a fan of the saying "Id rather have 1% of 100 mens efforts than 100% of my own" and a famous dealmaker said to spend "No money, No Risk, Little time" in business deals. If we OWN whats being sold, there is a lot of liability on our heads, especially in the current economy where everyone is starting to get sue happy for ridiculous reasons.
Plus if your focusing on that one thing that you own, aren't you putting all your eggs in one basket? If that income dries up, your done and the chances of someone coming along and buying your business for millions is very rare which would be my only valid reason for building one business with full ownership and control?
Therefore isn't one better off to obtain control of other companies access, assets, opportunities, etc (buyers, inactive buyers, distribution channels, etc) and then monetize them via others selling it - leverage? To have multiple deals going instead of one company their running? Then one wouldn't have the liabilities of being the owner of that product/service but they'd still have control plus they'd be in numerous businesses without liability. You mentioned inventing, but even with inventing, the company that licenses it from the inventor takes on all liability when promoting and selling it while the inventor sits back and collects the royalties without running a business and can sleep at night. Interested in hearing your advice on this. PS: Most of my thinking comes from the well known dealmaker/author Jay Abraham, I've read mostly his stuff over the years.
I've been reading over your materials (great by the way) and had a question. QUESTIONS: You mention that we need to own and control which is kind of where I'm a little held up
One of the famous sayings I've always went by was to "Own nothing, control everything" I'm also a fan of the saying "Id rather have 1% of 100 mens efforts than 100% of my own" and a famous dealmaker said to spend "No money, No Risk, Little time" in business deals. If we OWN whats being sold, there is a lot of liability on our heads, especially in the current economy where everyone is starting to get sue happy for ridiculous reasons. Plus if your focusing on that one thing that you own, aren't you putting all your eggs in one basket? If that income dries up, your done and the chances of someone coming along and buying your business for millions is very rare which would be my only valid reason for building one business with full ownership and control?
Therefore isn't one better off to obtain control of other companies access, assets, opportunities, etc (buyers, inactive buyers, distribution channels, etc) and then monetize them via others selling it - leverage? To have multiple deals going instead of one company their running? Then one wouldn't have the liabilities of being the owner of that product/service but they'd still have control plus they'd be in numerous businesses without liability. You mentioned inventing, but even with inventing, the company that licenses it from the inventor takes on all liability when promoting and selling it while the inventor sits back and collects the royalties without running a business and can sleep at night. Interested in hearing your advice on this.
PS: Most of my thinking comes from the well known dealmaker/author Jay Abraham, I've read mostly his stuff over the years.
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