Lesson 13

Lock Up Your Checkbook, You Won’t Need It


Welcome to lesson # 13 Who Wants To Be The Boss? I’m excited to have you as a valued member of our 6-month training program and am looking forward to seeing your own “business” “come to life” over the next few weeks and months.
Before we begin with this lesson, there are three important things that I need to mention to you…

1) Time Released Bonuses Every Throughout of The Program. You’ll automatically receive a FREE bonus as an active Who Wants To Be The Boss? subscriber. This will appear in your inbox approximately every 90 days or sooner and will include accessories and training materials to further streamline your time for you. Additionally, there are some built-in “surprises” (coaching, etc.) along the way at unspecified intervals. And, finally, there is a “graduation” bonus at the completion of your 6 month training that is literally worth more than the entire year’s subscription dues … so look for that on graduation day.

2) What’s In Store The First Few Months. I want to give you just a quick look at what we’ll be covering during the first few lessons in your training…

The first month will be the basic steps involved in getting things up and running (don’t fret veterans, I’ve got some “gold nuggets” in these preliminary lessons for you!) and the next month will be advanced strategies for expanding and improving the foundation of your new business.

3) Why You Should Never Cancel. There are many reasons why you should stick with your membership (it’s great training, if you keep quitting one thing and going to another you’ll never get anywhere, even if you don’t use it all now you can archive it to use later, etc.) (I also suggest you get a 3 ring binder and print and save each lesson) but there is an all-important reason that I have to warn you about from the beginning. Each of your lessons is sequential and delivered by autoresponder. That means, if you decide to cancel and rejoin at some point in the future, you’ll have to start all over again with the very

Note: Remember, I teach you “How to start or buy a business with no money down” “Lock up your check book, you won’t need it.”

URGENT: Your Email Address … Potential Delivery Problems

There are a couple of ISPs that are spam trigger happy and unfortunately yours may be one of them. Oftentimes white listing dave@whowantstobetheboss.com will remedy this. However, in some cases it is necessary to use a different email address.

Please check your email and if you do not receive the “welcome” email within 24 hours then I recommend you get a free Gmail email address (not Yahoo or Hotmail as they are trigger happy too!) to use for these lessons.

You can get a free Gmail email address in just a few short minutes at http://mail.google.com/mail/signup . Once you have done so, please email me back and I’ll manually reconcile the new email address to your account so you’ll properly receive the lessons.


Lock Up Your Checkbook, You Won’t Need It

In this lesson you are going to learn financial techniques that take the place of having to use your own money as a down payment. The financial techniques involved are leveraging the Seller’s assets. This is contrary to traditional financing strategies. Throw out the word traditional and replace it with unreasonable. Let’s take a look at the rules.

1. Ignore the asking price of the business, at this point it doesn’t mean a thing. The Seller is fishing or testing the water. Operate on the basis that it’s over-priced.

2. Don’t pay much attention to the down payment either. Usually when a Seller tells you how much they need for a down payment, they are looking for that amount to walk away with at closing. Now you know you are going to leverage the Seller’s assets, so be a good listener.

3. Lock up your cash. You don’t need to use your own money. If you can’t put the no money down deal together with the techniques that I teach you in thes several lessons, you have the wrong deal. Walk away and find another opportunity. Remember, when you walk, you’re walking towards another deal. You may have to look at 100 deals to find your fit, although I doubt very much that you will have to look at that many. If you do, look at it as a learning experience. Now you are becoming a smart buyer.

4. Maximize the Financial Techniques. Use more than one technique to put your deal together. Usually it will take more than one or two financial techniques to make the deal work. No two-leverage buyouts have the same financial structure. While these lessons will show you the best no money down techniques, your best techniques will depend on the deal and what’s best for you.

Where does the money come from to buy a business? Ninety-seven percent of business loans come from sources other than banks. Most banks believe that small business people are a pain in the butt. They consider it risky and troublesome to lend on small businesses. They can lend their money in one large loan to a large business more profitably than to fifty small businesses. Do you ever wonder why your bank is anxious to loan you money when you don’t need it? It’s because you don’t need it!

Banks are not in the business of lending money. They are in the business of making money. Never lose sight of this when dealing with banks and bankers. I am not going to teach you how to beat the banking system in these lessons.

Fortunately, the unreasonable Buyer learns early on that banks are vulnerable if he makes the right moves. Here is one way to get past the wall of no’s and get your hand in the vault. Work on a banker, not on the bank!

The 12 unreasonable sources of business loans are: In order

1. Seller

2. Suppliers, customers

3. Broker’s

4. Equipment vendors

5. Equipment lessors

6. Venture lease companies

7. Credit cards

8. Companies in industry

9. Factoring companies

10. Family and friends

11. Angels

12. Home equity lines, credit unions

You can buy any business with no cash of your own. I know it’s hard to sell this message. After all, we have been conditioned to think it takes money to make money. Wrong! It takes knowing how to get to the money. If your why is in place, your how will take care of itself. We are assuming that your why is in place. You know you want to be the boss! You’re on purpose.

I have acquired or built 10 different businesses and never have I used any of my cash. Actually landlords have paid me to either build or take over a closed business. The following financial techniques coming to your inbox soon will show you how to acquire a business of your own. I have used most of these techniques or I know people just like you that have. I will be sharing my stories with you. Always remember that Sellers want to Sell and Buyers want to buy, but few know how to put the no money down deals together.

The success of the no money down financial techniques is that the price of the business will be paid for by the profits, proceeds and the Seller’s assets of the business. These techniques are not about trying to accomplish the impossible. Acquiring your own business without having to invest your money may seem to be impossible at the moment.

But I assure you that you will soon begin to see exactly how you can easily accomplish what might now seem to be impossible to you. Friends and family will be amazed when they find out that you purchased a going business without using any of your own money. It will appear to those people who do not have the knowledge that you will gain from these lessons, that you truly have accomplished the impossible. I guarantee you will know how! That’s a good reason to never drop out of these lessons.,

Here is my goal and the real purpose of these lessons. To give you the confidence to achieve the American Dream; To own your own business. To be the boss!

If I am successful in reaching my goal, by the time you finish these lessons, you will believe that you can do it! I believe that the path to personal wealth is that of owning your own business, period. Sure a few people are lucky enough to work for an employer who shares the wealth with them, or you might win the lottery! I can assure you that for every person who became financially independent on a salaried job, there are thousands who have become independent through owning a business. So let’s get started in learning the financial techniques of Who Wants To Be The Boss? Secrets Of Buying a business.


This Week’s Assignment

Start believing: That you can start or buy a business without using any of your own money. Start exploring the 12 unreasonable sources. Remember, the success of the no money down financial techniques is that the price of the business will be paid for by the profits, proceeds and the Seller’s assets of the business

“The reasonable man adopts himself to the world: The unreasonable one persists in trying to adopt the world to himself. Therefore, all progress depends on the unreasonable man.”

See you soon.

Personal coaching by me at dave@whowantstobetheboss.com/coaching.html

Hold on tight to your dreams

Dave Meholovitch


Coming Up Next…

Lesson 14: “Dave’s Financial Techniques 1-2 & 3”

In these lessons I will show you techniques to start or buy a business without using any of your own money. You learn how to program 100% of the business debt. In the following lessons to come, I will cover all 16 financial techniques with you. Stay tuned! It’s getting good.