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How To START A BUSINESS As A "Holding Company"! #FreeGame

I want to take a few minutes to talk to

you about business ownership doesn't

mean you got to quit your job to own a

business because if you have a job you

are a w-2 employee you're in a perfect

position to own a business now you've

already heard me say on many occasions

that your business is your legacy and

that's the truth you can't leave your

children your job however when you have

a job you don't necessarily have to get

a second job especially if you're not

making enough income on your first job

instead of getting a second job

you can keep your first job but start

your first business this is the game now

when you start your business it's

important for you to understand how you

structure the business it doesn't matter

if you do an S corp or C Corp a

partnership or LLC I'm not necessarily

concerned about the structure from a

legal perspective as much as I'm

concerned about the concept that you use

and that's what I want to talk to you

about very quickly because I believe if

you're going to own a business you need

to own it

using the holding company concept this

is the concept that you need to use if

you're gonna own a business now you may

say if I have a job and I'm working 40

plus hours a week I'm a w-2 employee I

pay my taxes

why should I own a business well first

of all a business is a system that

you're gonna use for certain exchanges

and it's not just an exchange of

products okay it's not just an exchange

of services because what if you don't

have no products and services that you

want to sell or exchange through a

business system then that means you

don't necessarily need a business but a

holding company or a business system is

not just for the exchange of products

and services a business system is also

for the exchange of ideas it's also for

the exchange of relationships think

about it you hooking two people together

one person on this side of the world or

community to another person on this side

of the community

is actually a business exchange that you

can generate money from of course ideas

tell me you ain't got nan idea you might

have an idea to get rich you might have

an idea to bring young people together

you may have an idea to help mothers you

may have an idea to do something that

can change the world and it's much

easier if you take all of those ideas

all of those relationships and of course

if you got products and services and put

them under a business system now the

concept that I'm encouraging you to use

is a holding company confident this is

gonna be very important to you because

let's say if there's a certain product

you have let's say if there's a certain

service you have let's say if there are

30 ideas you have let's say if there are

20 relationships you have I just want to

give you an example how this works okay

so your product or products is a

business right guess what your service

or service is is a business right you're

30 or 300 ideas our business you're

twenty or hundred and twenty

relationships our business so here

you've got at least four different

business entities or potential business

systems instead of you separating them

all at different times you create one

business system that reflects all of

those ideas those products those

services and relationships and as these

products services ideas and

relationships grow and expand guess what

happens this one business will start

birthing baby businesses and so now you

have business number one business number

two business number three

business number four that have all

started out as departments or

auxiliaries or divisions of one business

but at some point they'll sprout out

they'll grow up and they'll become

subsidiaries and they'll have a life of

their own but they'll all be connected

to the one holding company which now you

through the strategic business concept

have given your one holding company a

lot of purchasing power and guess what

even if you just did that and didn't

have any of this and you're working on a

job where you're a w-2 employee guess

what happens because you own a business

now you can deduct your gas you can

deduct office space in your home you can

deduct uniforms you could deduct certain

food you could deduct marketing you can

deduct business cards oh my god there's

so many things you can deduct watch this

that you're gonna pay for anyway because

you're going to work because you live in

because you have expenses because you

have bills and utilities and you don't

have a business but when you have a

business even while you still work a job

you can still use all these as

deductions with the same money you're

spending that you're paying bills with

anyway from your jobs