I originally thought, from childhood businesses and then a teen national business, that money was wealth. Very A to B. It took about another 5–7 years post college to create another business, another company—-first I simply started selling books, CDs, DVDs online. Used at that. Robert Kiyosaki challenged in one of his Rich Dad books to look around and see what I could do/sell. I had extra books. (I’d actually also gone to one of his seminars here in NY so I was really hyped.) I went from $50 a month to $27,000 one week. Yes, selling used items.
But then a funny thing happened on the way to wealth. I learned about product and scale and exponential increases and such. Which meant that what I’d done to make $50 and then what I’d done to make $27,000 were different than what it would take to make $100,000 or even $1 million. I’d created a job. A job I completely owned, but a job nonetheless. And because of the vagaries of retail online—-later I would learn the 80/20 Principle—-20% of my inventory sold fast but 80% sat slowly selling over time (like the whole year) so I had to get larger and larger apartments to hold my inventory. And if you do the math, you see that it would require huge numbers of items to maintain (at an average sale of $6.42 an item) a $27,000 profit a month.
I realized I knew how to make money, but not how to create wealth.
What I did learn though was that though resale was hot, ownership was better. I was reselling thousands of books and CDs and DVDs. I then realized that I had to work—-go out and find, catalogue, inventory, upload those tens of thousands of items. Then I got into all kinds of margin arbitrage with blockbuster DVDs like The Matrix, The Hulk, Finding Nemo, Passion of Christ—-essentially drop shipping.
Looking closely, particularly after I came up with the SAME marketing strategy as Mel Gibson for Passion of the Christ—-he/his company was able to implement it for the DVDs before I could. But I wasn’t upset, I knew I was on to something, I knew I knew something, I just didn’t know what it was.
Ownership
Ownership is Wealth.
I didn’t own anything that I was selling. I needed to build content that I owned and then sell that in physical and digital eBook form and videos and even a TV show. That took another 5 years of testing and perfecting and now I’m about 13 years into the TV show/videos and 8 into the books.
I’ve achieved wealth because I create a product once and stuff from nearly a decade ago is still chugging along, selling, and I get money from it.
I originally thought money was wealth——but creating an infinite cycle of returns is wealth. And then I simply disperse profits into the business, stocks, real estate and the process continues in multiple ways.
So now, with $1 or $10,000 I look at investment products, of my own creation or other businesses, to put those dollars to work in.
What I hear from others is get another job, work harder but they’re trying to trade Time for Money to Achieve Wealth (Freedom)—-because Wealth is really Freedom.
However not understanding the principle of Wealth not being Money going In to it/to create it nor what the byproduct of it is, most, 90% try to create money.
So now at a valuation of my TV shows library in the millions, I think about rebroadcast, resell, valuation and then where to move that money it sloughs off. I’m now taking seriously breaking off videos from the TV show, experimenting with the numbers, subscribers, etc, content, etc. but really thinking —-if I do X amount of TV shows—-right now I’m contracted to potentially 3 more contract phases—-ending with a library of 2000 shows, can I get 5000 videos out of that? And can I arrange for the majority of the short videos and at least a third of the TV show episodes to keep generating revenue.
Ok, then how many books—-300 by our next review year of 2025 and applying the same principle across hardcover, PB and eBooks—-deliberately creating materials where 80% is useful to consumers for the next 20–30 years….what is that revenue?
What about the current 2500 blogs/articles I have going up to say 10,000 in the next few years, how many of those can create revenue?
Most importantly, owning it all. Owning my work is a cornerstone of wealth
That’s what I’ve learned as I’ve moved into wealth in the past few years—-it’s not just money—-it’s controlling an infinite resource that you can slough off to create money from.
#KylePhoenix
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Smile, Kyle
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Kyle Phoenix is a teacher, certified adult educator, sexologist, sex coach and sexuality educator with over two decades of intensive experience. He studied at the University at Buffalo, SUNY, New York University, and Columbia University. He has worked, consulted and taught individuals and focused professional developments for the CDC, Department of Education, Gay Men's Health Crisis, New York City Department of Health, non-profits, Fortune 500 companies and unions. He began his career facilitating on-campus workshops addressing a wide range of sexuality and sexual health issues and then moved on to teaching at universities, non-profits, private groups and clients, hosting The Kyle Phoenix Show on television and multiple online webinars, including YouTube and Sclipo and writing extensively through his blog, Special Reports, articles and other print and E books in the Kyle Phoenix Series on relationships, finance, education, spirituality and culture. He lives in New York with his family.
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