The New 1% - podcast cover

The New 1%

Timothy Douglasβ€’workwithtimmydouglas.com
Welcome to the New 1%, a community of people judged by their impact, not their wealth. We pool funds, develop people, and optimize for impact. How do we do this on the show? We discuss the following topics: Buying & Selling Businesses Operating Businesses Deep Dive into impact entrepreneurs Community Investing My Personal Progress Updates We also interview acquisition entrepreneurs to hear about the impact they want to create and the obstacles they had in finding, funding, and operating their businesses. How do we do this off the show? Message me @timdouglas924 on IG and find out...
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Episodes

πŸš€πŸ“… Week 12 on the Journey to the New 1%! 🌟

Here's the scoop on my journey: πŸ“ Content Creation: I've been hard at work breaking down the free courses into manageable steps. πŸ‘©β€πŸ’» Virtual Assistant Mastery: My VA has been crushing it, especially on the cold DMs front. Daily reporting and affiliate traction are on the rise. 🏑 Sober Living Progress: Our property setup is nearly complete, and I've devised a solid tenant flow plan for scaling. It's time to put the plan into action! πŸ’³ Capital Crunch: I hit a minor setback while liquidating b...

Dec 11, 2023β€’10 min

πŸš€ Meet the New 1% Journey Starters! 🌟

Join us on a journey with Michael, Sally, Carlos, Derrick, Candice, and Shaun as they embark on their community investing adventure. 🀝 πŸ‘₯ These friends are at the beginning of their journey: Michael, the tech enthusiast Sally, the nurturing teacher and gardener Carlos, the creative graphic designer and urban sketcher Derrick, the triathlon enthusiast and financial analyst Candice, the food blogger with savvy financial planning Shaun, the sustainability advocate and hiker πŸ’° Each contributes $40...

Dec 09, 2023β€’9 min

When 770 employees threatened to resign if Sam Altman wasn't reinstated as CEO, it highlighted a crucial entrepreneurial need: Influence.

The law of influence states that your true leadership is measured by your ability to influence others. Here are eight key aspects to understand about the law of influence: 1️⃣ Influence grows over time. 2️⃣ It expands beyond your immediate circle. 3️⃣ Relationships are at its core. 4️⃣ Character plays a vital role. 5️⃣ Effective communication is crucial. 6️⃣ Adaptability enhances influence. 7️⃣ Continuous learning is essential. 8️⃣ It's about empowering others. Positional authority may have limi...

Dec 08, 2023β€’11 min

Henry Ford: A Visionary Road to Impact

Henry Ford, the automotive pioneer, didn't ask people for what they wanted; he gave them something they couldn't even imagineβ€”the Model T. Here's how he revolutionized transportation: πŸ”§ Started as a machinist apprentice. 🚘 Built the Ford Quadricycle in 1896. πŸš— Launched the Model T in 1908 for affordable, reliable vehicles. 🏭 Introduced the assembly line, cutting production time from 12 to 2.5 hours. Ford's success secrets: 🌐 Vertical integration 🀝 Building a dealer network πŸ”„ Diversifying ...

Dec 08, 2023β€’8 min

πŸ’° $0 Out-of-Pocket for a Cash Flow Investment πŸ€‘

Imagine buying a business with $166k in cash flow and no upfront cost! Here's how: 1️⃣ Get an SBA loan with just 10% down. 2️⃣ Purchase a turnkey precision machining shop in Arizona for $990k. 3️⃣ Take on $891k in debt, with monthly payments of $12.4k. 4️⃣ Enjoy $17k in leftover income after debt payments for the year. Consider potential red flags, like dependency on one major client, but leverage strengths like having ample inventory for zero out-of-pocket transactions. Seek expert advice, asse...

Dec 06, 2023β€’9 min

🀝 Building and Safeguarding Your Reputation πŸ”’

Warren Buffett once wisely said, "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." Your reputation is your personal and business brand. To build a strong reputation: 1️⃣ Create positive associations with your target audience over time. 2️⃣ Foster positive interactions, content, partnerships, and reviews. 3️⃣ Be selective in associations to maintain a positive reputation. Guard your reputation with careβ€”it's the key to im...

Dec 05, 2023β€’13 min

🏒 Building Your Business-Buying Dream Team 🀝

Ever heard "It takes a village"? Well, in the world of buying businesses, it surely does! Here are your key allies: 1️⃣ Accountants: Masters of financial health evaluation. 2️⃣ Lawyers: Guardians of legal documents and compliance. 3️⃣ Lenders: Your partners in securing financing. 4️⃣ Due Diligence Pros: The all-in-one package for comprehensive insights. Incentivize them with equity, cast your vision, and build trust. Together, they form the village that'll lead you to financial freedom. πŸŒ†πŸš€ #Bu...

Dec 05, 2023β€’8 min

Week 11: Navigating the New 1% Journey

Let's dive into the latest developments on this exciting journey: **Community Building:** - Continued content creation. - Ongoing refinement of our free courses. **Virtual Assistant Updates:** - Stepping into the world of Cold DMs. - Additional training on scraping IG accounts for outreach purposes. **Sober Living Ventures:** - Focused efforts on setting up our sober living property. - Temporarily paused outreach for leases and private money as we establish stability. - Preparing for tenant mark...

Dec 04, 2023β€’9 min

🌟 Embark on the Community Investing Journey πŸš€

Join us as we follow the inspiring stories of 4 individuals at different stages of the community investing journey: 1️⃣ Beginner Phase No assets $500/month Discover how they leverage their resources and newfound knowledge to kickstart their journey. 2️⃣ Intermediate Phase Purchased their first business 3️⃣ Advanced Phase Purchased multiple businesses Preparing for their first exit Venturing into real estate investments together Explore how they maximize their portfolio's potential, strategize fo...

Dec 02, 2023β€’11 min

πŸ“ˆ Feeling stuck at your current income level? It might be because you haven't mastered the art of leading people effectively. πŸš€

🀝 Leadership Multiplies Efforts A single individual can only achieve so much. To break free from income limitations, you must learn how to lead and multiply your efforts through others. 🧭 The Law of the Lid John Maxwell's concept of the "Law of the Lid" highlights that the most successful individuals can exponentially increase their output by leading others effectively. πŸ“ˆ Exponential Growth with a Solid Team Without the ability to lead, you won't capture the exponential returns that come with...

Dec 02, 2023β€’11 min

🌟 Take Big Bets on Impactful Ventures: The Rockefeller Way 🌍

Imagine having the resources to consistently invest in people and projects that transform lives. The Rockefeller Foundation does just that, giving away hundreds of millions annually to make a meaningful difference. 🏭 Foundation of Wealth The story begins in 1863 when John D. Rockefeller, initially a bookkeeper, partnered with others to invest in an oil refinery. Technical expertise was key to their success. β›½ Standard Oil's Triumph Building on that success, he established Standard Oil, aiming t...

Nov 30, 2023β€’9 min

🌴 Work 7 Months, Vacation 5, and Still Earn $550K/year? πŸŒοΈβ€β™‚οΈ

Imagine living the dream life - running a Golf Cart Rental Store in sunny Galveston, TX. With an SBA loan of just 10% down, you could make it happen! πŸ’° Financial Freedom Awaits Purchase Price: $2,200,000 Down Payment: $220,000 Debt: $1,980,000 Debt Payments: $30,000/mo Leftover Cash: $190,000/year β›³ Red Flags & Strengths Before taking the swing, watch out for potential red flags: seasonal demand, hurricane risks, real estate leases, and the absence of recurring revenue. On the bright side, ...

Nov 29, 2023β€’8 min

🌟 Transform Your Sales Approach with This Definition πŸš€

Sales is more than just a transaction; it's the transfer of belief over the bridge of trust. πŸ’‘ 🧐 Understanding Sales Sales expert Alex Hormozi has defined sales in a way that simplifies its essence. It's crucial to realize that we're all engaged in sales in various aspects of our lives, whether it's convincing someone where to eat, how to spend time, or what to believe. 🌐 Building Trust and Conviction In sales, your goal isn't just to make a sale but to help the other person believe in the va...

Nov 28, 2023β€’13 min

πŸš€πŸ’Ό Buy a Business with $0 Out of Pocket - Yes, You Can! πŸ’°πŸ›οΈ

Many believe that financing a business transaction requires personal capital or traditional bank loans, but that's far from the truth. Most successful entrepreneurs leverage various sources of capital, and it doesn't always involve raising money from investors. πŸ“Š 5 Sources of Capital Here are five sources of capital that don't require you to raise funds from external investors: 1️⃣ Seller Financing: Often overlooked, this option involves the seller providing financing for the transaction over t...

Nov 27, 2023β€’8 min

πŸš€ Week 10: Journey to the New 1% 🌟

Join us as we dive into the latest chapter of my journey to the New 1%: Community Building: Crafting captivating content for the community. Enhancing our content system to boost storytelling. Dedicated time and effort into refining our free courses. Virtual Assistant Updates: Prepared for Cold DM outreach. Discovered cost-effective tools to streamline the process. Initiating Cold DMs this week to expand our reach. Sober Living Ventures: Leveraging Business Credit for our Joint Venture. Our first...

Nov 26, 2023β€’10 min

πŸ€” "All Wealthy People Have Unhappy Relationships" - Myth Busted! πŸ’°πŸ€

Have you ever heard this myth? It claims that wealthy individuals have unhappy relationships and attributes their financial success as the cause. But let's dig deeper and challenge this notion. 🚫 Myth Debunked First, let's debunk this myth. Poor relationships aren't exclusive to the wealthy; people from all walks of life can experience difficulties in their relationships. πŸ’‘ Relationships and Wealth But here's the twist – many wealthy individuals rely on strong relationships to maintain their w...

Nov 25, 2023β€’9 min

πŸš€ Meet Big Mo: The Key to Business, Life, and LeadershipπŸ”‘

Ever heard of Big Mo? Well, it might take some time to encounter, but trust me, it's worth the wait. John Maxwell famously refers to momentum as "Big Mo," and it can be a game-changer in various aspects of our lives. πŸ”‘ The Power of Momentum Momentum, or Big Mo, has incredible benefits: 1️⃣ Solving Problems with Ease: Momentum can make even the most daunting problems seem manageable. 2️⃣ Creating a Culture of Success: It has the remarkable ability to foster an environment where success becomes t...

Nov 24, 2023β€’12 min

Bill Gates: From Programming Enthusiast to Philanthropic Icon

Bill Gates, the man behind Microsoft and a philanthropic powerhouse, has made an incredible impact on the world. Let's dive into his journey and see how we can learn from his remarkable life. πŸ‘Ά The Early Days It all began when Bill Gates developed an interest in programming at just 13 years old. His passion for technology laid the foundation for an extraordinary future. πŸŽ“ Dropping Out to Soar Bill Gates didn't follow the conventional path. In 1975, he made the bold decision to drop out of coll...

Nov 23, 2023β€’9 min

🎢 Turn Your Passion into Profits: Buying a Music Store 🎢

Ever dreamed of owning a music store? Now, it's not just a dreamβ€”it can be your reality! Let's explore how you can buy a thriving music store in Arizona and make sweet music with your investment. 🎡 The Opportunity Awaits Imagine acquiring one of Arizona's top 10 music storesβ€”a fantastic business opportunity with a purchase price of $450,000. With an SBA loan, you can secure the deal with just a 10% down payment, which amounts to $45,000. The remaining $405,000 can be financed. 🎢 Cash Flow is Y...

Nov 22, 2023β€’8 min

πŸš€ Unleash Your Business Potential with Advertising πŸš€

Are you ready to supercharge your business success? Look no further than advertisingβ€”an invaluable skill that can transform your journey to success. πŸ” What Is Advertising? In his book "100M Dollar Leads," Alex Hormozi offers a crystal-clear definition: Advertising is simply the process of making your offerings known to the world. No more relying on the "Build it and they will come" mentality. πŸŽ™οΈ Podcast Insights Reflecting on my own podcast journey with over 700 episodes, it's evident that wai...

Nov 21, 2023β€’11 min

πŸ” Looking for the Perfect Business to Acquire? Start Here! πŸ”

Starting the journey to acquire a new business? It's vital to set the stage by defining your Perfect Business Criteria. Here are the 5 key factors I'd consider: 1️⃣ Self-Assessment: Remember, you are the linchpin of this endeavor. Ensure you genuinely enjoy the business, have a compelling reason for it, or possess relevant pre-acquisition skills. 2️⃣ Industry Research: Dive into the industry to confirm its growth potential. Look for opportunities and compile lists of businesses that align with y...

Nov 20, 2023β€’14 min

πŸš€ Journey to the New 1%: Week 9 Update πŸš€

Another week, another stride toward the new 1%! Here's what's been cooking: 1️⃣ Community Commitment: I've been busy crafting content and made a bold commitment to have my VA slide into DMs, offering our free Professional Development courses. It's a win-win, with quick cash flow for her, top-tier advertising for the New 1%, and a strong setup for the Sober Living venture. 2️⃣ Cold DMs on the Horizon: My trusty Virtual Assistant has been doing some editing and got the memo that Cold DMs are on th...

Nov 19, 2023β€’12 min

πŸ’‘ Unlocking Abundance: The Power of Giving to Get! πŸ’‘

Ever wondered why it's easy to accept lacking something you want, yet challenging to embrace having it? πŸ€” Zig Ziglar's wisdom sheds light on this paradox: "You can have everything you want in life if you just help enough other people get what they want." 🌟 That's where community investing comes into play. Gather a group of 3-6 like-minded individuals and craft a tangible plan to attain your desires. πŸ“ˆ Ask yourself two pivotal questions: 1️⃣ Who do you need to assist? 2️⃣ How can you aid them ...

Nov 18, 2023β€’13 min

What Jesus, George Washington, and great soccer teams can teach entrepreneurs:

1️⃣ Mastering the Art of Retreat: Just as Jesus retreated from crowds and Washington strategically withdrew during battles, great soccer teams shift into a defensive stance to safeguard their lead. Retreat when necessary. 2️⃣ Activity vs. Accomplishment: Recognize that mere activity doesn't guarantee accomplishment, echoing the wisdom of John Maxwell. Understand the distinction and focus on results. 3️⃣ Strategic Action: These legends also knew when to take action. Jesus embraced the cross, Wash...

Nov 17, 2023β€’10 min

πŸ’° Learn from the Legend: The Man Who Broke the Bank of England! πŸ’°

Uncover the incredible journey of George Soros, the man who survived WWII in Nazi-occupied Hungary and later broke records with his financial prowess: 1️⃣ The Birth of a Hedge Fund Maverick: Discover how Soros launched his hedge fund in 1970 after surviving turbulent times during the war. 2️⃣ A Billion-Dollar Bet: In 1992, he made an audacious bet against a currency and walked away with a staggering $1 billion in profit. 3️⃣ The Theory of Reflexivity: Delve into the cornerstone of Soros's succes...

Nov 16, 2023β€’11 min

🌟 Score Big on a Business Deal! πŸ€‘

Discover how to buy a cash-flowing business worth $150,000 for just $24,500: 1️⃣ Strategic Investment: Secure an SBA loan with 10% down to acquire an organic waxing & lash studio in Austin, TX, priced at $245,000. 2️⃣ Crunching the Numbers: Dive into the details with a $220,500 debt, manageable $3,400 monthly payments, and a solid $109,000 leftover after debt payments each year. 3️⃣ Key Considerations: Explore potential red flags like the absence of real estate and franchise ownership, and h...

Nov 15, 2023β€’7 min

πŸ“§ Boost Email Responses 13x! πŸš€

Unlock the secret to skyrocketing your email response rate and securing positive replies: 1️⃣ Email Power Moves: Connect with sober living operators and enhance their tenant offers while generating cash flow. 2️⃣ Crafting the Perfect Offer: Refine your consulting pitch to a lower ticket, recurring model, and reimagine your freebie. 3️⃣ Value-Packed Freebie: Present operators with a free professional development course that instantly benefits their tenants. 4️⃣ Win-Win Relationships: Operators ga...

Nov 14, 2023β€’11 min

πŸš€ Unlocking Mentorship: Your Key to Success! πŸ—οΈ

Discover the power of mentorship with these 5 game-changing steps: 1️⃣ Find someone a few steps ahead of you in the right placesβ€”LinkedIn, Associations, or even podcasts. 2️⃣ Craft a compelling value proposition specific to the mentor. Highlight how their presence can elevate both of your journeys. 3️⃣ Paint a clear picture of the mentorship relationship you envisionβ€”what you'll learn, how it'll work. 4️⃣ Set up a meeting and present your value proposition for free. Showcase the potential for mu...

Nov 13, 2023β€’7 min

πŸš€ "Week 8 on the Journey to the New 1%" πŸ’‘

Another week of exciting developments on the road to the New 1%! Let's dive in: πŸ“š In the community realm, we've been busy creating valuable content and contemplating the potential of Free Professional Development Courses as lead magnets. A shift in perspective that could open new doors. πŸ–₯️ Our trusty Virtual Assistant has been hard at work editing content, while we've been fine-tuning our Cold DM processes, especially for the new freebie. 🏠 As for Sober Living, we've made some promising moves...

Nov 12, 2023β€’11 min

πŸ’° "You Don't Need Money to Make Money" πŸ’‘

Ever feel stuck because a few hundred dollars per month seems like a drop in the ocean when it comes to building wealth? 🌊 Let's break free from that One-Dimensional Thinking that tells us $2,400 invested annually won't yield 1 Million dollars in 40 yearsβ€”because it's true! πŸ‘₯ But what if six people joined forces? Suddenly, that $200/mo becomes $1,200/mo, opening doors to financial opportunities. πŸš€ Leverage technology, maximize the collective learning, and develop a valuable skillset. πŸͺ™ Then,...

Nov 11, 2023β€’11 min
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