Recently someone emailed me a question and in response I thought I would share it:
ShoeMoney if your entire business crashed tomorrow what would you do?
Its funny I just went on vacation rented a 32 foot RV with my kids and wife and my kids asked if we could just live in the RV and home school them and just roam around the country.
Answering your question is kind of 3 fold. (probably the most beneficial answer is last).
Worse case – If I died tomorrow and all income stopped I have put away enough money in trusts and investments that my wife and kids could easily maintain their current lifestyle and have college paid for several times over. I don’t like having cash or the stock market so I have invested a lot in city backed Real Estate like our local new sports complex and arena. Shit like that. Solid return and backed by the city. My investments are not sexy but they are stable. Plus the 10 milion dollar life insurance policy would make a difference =P.
Realistically – I have built up enough reoccuring revenue from all kinds of various streams over the last decade. I still get paypal payments monthly… not a ton of money but a couple grand a month from a site I sold in 2010 (no joke). I got a call the other day from a company that owes me 5k since the wires they sent me didn’t go through since I switched our company to another bank. There is probably about 15k/month in 50 different streams of revenue and it remains steady without my doing anything new (just auto sequence affiliate programs from my lists). Also because of my reputation I can get some good consulting gigs for 10-20k/month. I don’t ever pursue these they often come to me. Some I take on and some I don’t. The bigger the company the bigger difference you can make with a little tweak. For instance we had a 2 billion dollar loan company do a 3 month contract with us for 10k/month and the first month I changed their form page and they saw a 17% increase in converision on the first run… which they said was a difference for them for about 58 MILLION a year in profit. They locked me into a 2 year deal at 18k/month and I think I have heard from them twice in the last 6 months. And there is my blog income that does about 500k or so a year. I don’t write it much anymore and have 90% guest writers that either post for free or 1-2k a month to cover a new post daily. So if you take all that into account and I do nothing new I am ok. But that is boring.
Hypothetically – Lets say I get sued by the FTC for god knows what reason and they sieze everything, all reoccuring revenue, and in the settlement I agree I can’t do anything in online marketing or online anything. While I feel there is 0% of this happening its out there and the FTC, while not knowing dick about marketing, is making examples out of people.
SO what would I do?
Offline arbitrage is HUGE and I started doing it 15 years ago and it still works today.
I purchased a 2012 Ninja ZR10 off of ebay for like 7500. The description they guy used for the bike was SHIT. I rode it for 2 months then it was clear to me this bike was way way way to powerful for me. So I listed it on eBay and it sold for 8650 just because my copywriting and description was 10x better. Now this might not be that good of an example cause of the fucking tax/title/license/delivery fees I basically broke even. My point is though there is ALWAYS going to be a market imbalence.
Here is a FOR SURE way to make money RIGHT NOW without RISKING ANYTHING.
- Go on dell deals, take each of them then goto eBay and see what they are selling for (only check completed listings NOT what people are asking).
- I guarentee you will find a big difference in something.
- Buy them from Dell and as soon as you get the shipping notice list them on eBay. Remember you can charge whatever for shipping and sometimes the shipping can be your profit (especially when you get free shipping from dell or amazon.
- IF they sell ship them to the buyer.
- IF they don’t sell return them to Dell.
Risk free (you might have to pay return shipping). Amazon covers return shipping though.
But also keep an eye on slickdeals.com or woot.com and look for deals. You can always return shit.
Amazon is the best place IMO if you can find something cause with a prime account you can do free 2 day shipping OR ship it directly to the person that bought it.
Also don’t forget about your local newspaper. Your average person doesn’t know about these deals.
Another real life true story. I bought these sony RF headphones for my TV from amazon for $69 (they are now $79): http://www.amazon.com/Sony-MDRRF985RK-Wireless-Headphone-Black/dp/B009A6CZYO#
THE EXACT SAME ONES RIGHT NOW are at best buy for $109 and if you go into the store and pay tax its like $115 http://www.bestbuy.com/site/sony-wireless-fm-over-the-ear-headphones/6582193.p?id=1218759758655&skuId=6582193&st=MDRRF985RK&cp=1&lp=1
On ebay you can buy them anywhere from $29 to $49:
See what im saying? ARBITRAGE ARBITRAGE ARBITRAGE. You could list these locally and make a big profit.
Thats what I did back when I had a fulltime job in early 2000’s then I got more into it and started buying recycled computers.
Big companies like wells fargo or whatever often time upgrade their hardware nation wide and all the old hardware is picked up my a recycle company… hard drives are destroyed… then they resell the computers often BY THE POUND. I built up my business where I was ording semi loads once a month and had 2 part time kids helping me take inventory. I did this on the weekends. You don’t have to start that big you can just spend $50 and try it. It does have more risk but huge rewards. Sometimes on a semi load for 5k I would make as much as 50k… Sometimes I lost money.
Just keep in mind ARBITRAGE. It means the PROFIT from a market imbalence. Its a simple concept many people don’t understand. It exists all around us.
Sorry for writing so much hope that answers your question.