Jordan Goodman, America’s Money Answers man, shares the story of his first entrepreneurial venture.
He describes how as a child of 12, he saw unused inventory- and a clear demand for it, and put it together. It is a simple story but a great roadmap for aspiring entrepreneurs- or anyone that just wants to learn the basics of how business works.
In Goodman’s story you will learn:
-how he leveraged his first job into a business of his own at age 12
-how he convinced his bosses to give him inventory at zero cost
-how he discovered an underserved market with demand for that inventory
-how he had a profit margin of 100%
In Goodman’s lesson you will learn:
-the important of leveraging your situation
-the benefits of working with others with complementary skills and resources
In Goodman’s money tip you will learn
-What is mortgage optimization strategy
-How he says you can pay off a 30 year mortgage in 5-7 years
-Why home owners lose so much money paying interest in the early years of traditional mortgages.
-How to use HELOC’s as a tool to accelerate paying down your mortgage
-The three things you need to make this strategy work.
In my take you will learn:
How entrepreneurs can benefit from focusing on opportunities that are simple and straightforward.
How to focus on finding ways to solve problems for other people, to create profit for yourself.
Links from the episode
He is on Twitter @GoodmanJord
The website Jordan Goodman mentions to learn more about his mortgage optimization strategy is truthinequity.com
Jordan’s book he references in his money tip is Master your Debt.