A Serial Entrepreneur And Business Mentor Shares How To Build an Empire And Protect Against Inflation
Aaron Sansoni is an Australian entrepreneur and has personally coached over half a million students around the world over the past two decades
Global inflation spiking. Cryptocurrency falling. Stocks at record lows. With headlines like this, it has become painfully obvious that it is important to prepare for the worst. While many look to savings accounts, stronger investments, and higher paying jobs, others turn to entrepreneurship to hedge the ups and downs of our current economy. To give better insight into what it takes to build an empire, we decided to interview Aaron Sansoni, aka ''Mr. Empire". Sansoni is a global mentor, investor, and best-selling author. In addition to his success in building and investing in businesses, the Australian entrepreneur has personally coached over half a million students around the world over the past two decades. No matter what industry you're in, Sansoni believes that everyone should build multiple businesses with multiple income streams to secure their financial future. Here's his tips on how to build an empire and protect your future.
Developing an Empire Mindset
Whether you are an aspiring entrepreneur or simply looking to build additional revenue streams, Sansoni believes that everyone should develop what he calls an "empire mindset." "Most people talk about fixed versus growth mindset. For me, both of these are lacking because they deal with how you handle what life throws at you. An Empire mindset means you decide what you want, get up every day and take massive and immediate action towards your goal." The first step in developing this mindset is visualizing the life that you want. The reality is that many people dream of freedom and wealth, but they don't actually visualize what that looks like for them.
Acquiring Your First Business
"If you only have one way of making money, you are one step away from some real trouble." Sansoni has built or bought into over 80 businesses since starting his entrepreneurial journey. And while he doesn't expect everyone to buy that number of businesses, he does believe that anyone looking to develop financial freedom should acquire businesses that provide for the lifestyle they desire. The problem that he realizes most people run into is thinking they need a large amount of money to do that. However, there are ways you can get into a business without a large amount of capital. "You can start or buy another business with very little or even no money. It comes down to mastering the art of deal making." Through owner finance, sweat equity or leveraging money from other investors, you can get into businesses even if you don't have a large amount of capital to invest. The key is understanding how to find and negotiate a good deal. When you acquire your first business, you are now paving the road for you to have control of your income and your time.
Build Until You Reach Your Goal
Most entrepreneurs develop arbitrary numbers as their definition of success. We often hear phrases like building a million-dollar business, How I Created an 8-figure business, or how to reach seven figures in sixty days tossed around in a world that is fuelled with a sense of hyper-entrepreneurialism. The reality is that most will not reach these incredible numbers - and that's okay. For Sansoni, it is more important that you learn to manage your businesses in a way that maximizes profit while providing you the freedom to live the life you want by design. "If you manage businesses correctly, you don't have to be involved in the day to day operation - this frees up your time to spend with family and friends, to pursue hobbies, to continue empire building - whatever you desire." One of the ways that Sansoni maximizes his businesses is by building multiple income streams from each individual business. For example, you might have a business that sells face to face, and you could add more income streams to that such as online sales, wholesale, recurring, partnerships, endorsements, and more. By adding these other revenue streams, you can increase the profit of your business by simply building a few more systems.