 What's the most foolproof way to make money? What's the most foolproof way to make a hundred thousand dollars a year? working from home or 200,000 or 50,000 depends on how Hard and smart you work. I got a simple answer for you. I'm here down in the Caribbean Sun so I'm gonna be hat. I'll get burned. You get burned down here, boy You don't need your vitamin D supplements down here. So here's the formula s plus i equals m Okay, s plus i equals m that formula right there if you write that down keep that whether you're a teenager in your 20s 30s 40s 50s This is the simplest way to start making six to seven figure income worker from home By the way, this works everywhere in the world this s plus i equals m formula So let's reverse engineer the formula m stands for money the goal What you need to survive? What I used to call one still call fuel units the fuel of of the modern economy. Nobody builds their own You know grows their own food Weaves their own clothes and builds their own house anymore, right? You need money as a form of a medium of exchange with other people who build your house grow your food and Make your clothes food shelter water Maslow's hierarchy of need So s plus i equals m. You're trying to equal money. So what's the formula on the left side of the equation I? equals internet So do you have internet? Don't matter where you live, but you need internet. You can't do this By telegram by by letter by postal mail this formula will not work So the good news is internet. I mean Elon Musk is putting his internet Everywhere in the world You pretty much have it. I have people working. I buy companies for a living now, you know I own a big holding company. I own pure one in Radio Shacken. I buy companies doing 500 million revenue But I staff them my team my people are all over the world. I was talking to one of my team He's in Nigeria. I've got people in Serbia, Bolivia. I've got people in Australia Every continent Sweden, you know, Northern. I've got Southern. I've got Africa. I've got Asia office in Pakistan So the one prequisite to making money with this simple formula from home is you got to have good east decent internet Connection not like dial-up speed. So one thing you may have to do is go work from a Starbucks sometime now the S S plus I equals M. The S is the magic The S stands for service So it's basically a couple of business models a couple ways humans have made money in History, okay, so think about it. How do people make have to like Michael Scott in the office? Remember that episode where he goes to speak to the Ryan's MBA program He's like there's seven types of businesses in the world hotels railroads Tourism and anyway if you ever seen that episode kind of funny, but when you really look at that business models one of my Millionaire mentors when I'll start now. I had five Mentors who are multimillionaires that really taught me everything. They got me started and one of them used to say look Those are two main types of businesses. This is one way to catarise business. There's Commodity versus brand commodity is like your mind. You're a coal miner. You own a coal mining outfit. You are oil and gas business Commodities are things that are undifferentiated. You don't care what they are in crypto. That's the difference between It's it's in crypto commodity versus brand, you know commodity would be tokens and Brand would be NFTs non-fungible. So there that means they're differentiated But that's not what I'm actually talking about today There's another way to break down business besides commodity versus brand a wide categorization of business the other wide categorization of business is Service versus product Now I'm not gonna we can split hairs and talk semantically on this Just hear me out what I mean if you're watching this and you want to know how to make money look You can launch a product based business and most people think of that like oh, what's a good thing? I can sell I come up with a little gadget, you know Steve Jobs came up with Apple products, right? Came up with a computer a home computer the Macintosh That's how he was product-based person and he became you know one of the most famous entrepreneurs Elon Musk was product base, right? So he had PayPal Was a specific Kind of automated thing you could send money through an automated product called PayPal and then he has obviously Tesla Which is a product of physical car, you know SpaceX, which is a physical reusable rocket ship So those are product-based businesses because the media is kind of brainwash people Into going oh if you want to make money from home as an entrepreneur You need to be product-based most people go down that route and unfortunately Why I want to record this video people forget Service-based business Um are easier take less capital fail less often Um and are a huge part of wealth creation now I will give you a little disclaimer more wealth is created through products and services, but more Capital is needed more experience more risk must be taken and the lease and less Realistic for the average person the average prep you're watching this and you're not you know Born with wealthy parents or you're not in Silicon Valley where you had connections or you didn't go to Harvard Um, I would recommend the s Plus I equals m formula start with a service-based business. So what do I mean? Okay, well instead of saying what's a cool product? I could invent get a patent on and sell what's cool technology I could launch say What can I do with my sweat equity my time? How can I sell my time? to somebody for one dollar an hour one thousand dollars an hour now lawyers and Doctors are in the service business So when I say sell my time, it's not anything weird like All basically all lawyers 99% of them and all doctors you walk in there. They're essentially selling their time Now another disclaimer. There's downsides to service businesses. Some people you'll see Advice from people. I'll never sell your time for money. Well, it depends what stage you are an entrepreneurship Like now, you know, I don't do as much selling my time for money I don't any I used to follow the s plus I equals m formula But now I do bigger stuff, but that's just because I built up to it. You got to build up this stuff This world is tick-tock world Instagram real everything people think it's instant The average person takes 12 to 20 years to build society I'm gonna tell you this to build a million multi-million dollar empire Most people take 12 to 20 years and people say, oh, you don't know if you just trade crypto and NFTs Look at all these millionaires. Oh, just wait a few years. Ladies and gentlemen Money that comes fast leaves real fast an Amish guy told me a fence that's built fast Offense that's built quickly falls down quickly in a fence that you build slow stays up for Generations so there's a lot of wealth a lot of BS wealth being built right now Don't worry. You're gonna flow right in and out of most people's fingers Which is actually the worst thing Daniel Kahneman the Nobel Prize winning economist, you know He talks about how the way the human brain works with money is that you use what's called the comparative cognitive bias The contrast bias meaning it's better To never be wealthy than to be wealthy and lose it all because then you tasted the fruits You tasted what it was like and now your life in contrast is way worse So if you're listening you're saying no ties not gonna take me 12 to 20 years I can just jump right into a product-based business. I don't need to listen to what you're saying I don't need to build a service business. Do you know who I am Ty? A little narcissistic generation we're all from right The I can do anything if I put my mind to it mentality. No, you can't no I can't either You can't be a pro basketball seven-foot center by putting your mind to it There's bounded rationality and bounded Biology in this world So if you go, I don't need to start with a service business and sell my time. I can just go out You know, don't you know I am Ty? I saw a self-help video said I could be anything I want to be if I put my mind to it Well, not really you could be a lot most people can be more than they think they can be that's true But you can't be everything anything so What's a practical application of this service-based business? Let's say you're willing to listen well 2016 I started this I said hey You want to know the best way to make $1,000 to $10,000 a month get businesses to pay you to run their Facebook ads and their social media for 40,000 people went through my training program Insane results every single time I travel. I was just on a seven-day Seven-city business trip everywhere. I was in Miami people came up to me time a millionaire now I got in that agency service-based social media marketing agency course that still works today That was 2016. It's still working right now Now there's variations of permutations on this now meaning social media marketing agency still valid Service business where you sell your time you go in and you say it's $2,500 a month. Mr. Restaurant owner Mr. Cosmetic Surgeon owner, you know, and I'll run your Facebook ads and YouTube and I'll do lead generation for you and all that But there's some permutations on that now, which is a good thing It's better now because now you can add an e-commerce for example So you could do a damn e-com business, right? so By the way, I'll put a little link if you want to see I have a Paid mentorship program by the way, I didn't shoot this video to sell anything But people sometimes watch my videos. I'm like, oh, I want to know more. So Without much ado, I'll just put a link here or in the corner and go watch this If you want me to train you how to do how to teach people how to make money as a e-commerce Service consultant where there's a million stores on Shopify big commerce WordPress right now and most of them are having a hard time doing their e-commerce because they're product focused So they had a good product idea, but they don't know how to run the actual Shopify or WordPress They don't have to run their Facebook ads landing pages. They don't know how to do site merch all this stuff So I've got a little four month course. Click the link. It's a little paid mentorship. Anyway Not trying to sell much here. By the way, I never apologize for trying to sell don't ever apologize for Making money. So it makes the world go around. That's how economies work In fact, when the world goes to crap is when money stops flowing from person to person from business to business When you make money you recirculate into the economy. You're actually a net positive for planet Earth So when people say oh don't sell stuff What and don't be a net positive Just because money flows into my pocket or your pocket you Reese you even if you put it in the bank or you put it into crypto It's getting recirculated Right if you're in crypto, they're staking. There's you know Lending There's a recirculation of money if you put it in a bank the bank lends it out now It doesn't quite work like that anymore with the Federal Reserve, but basically it's somewhat like that your exact dollar main Not but it's a digital entry in a ledger, you know, whether it's crypto ledger or a fiat ledger But let me not digress So let's go back to how to do this So you want to the best way make 100 grand 200 grand a million 50 grand from anywhere in the world that you have an internet You start a service business now you don't have to do a social media or e-com Service business you could also do. Well, it's another business. That's valid Go on Upwork for example, there's multiple websites, but take a website like Upwork or Fiverr go in there Look what they're highlighting on their homepage. They're highlighted on the homepage the freelancers occupations or Categories that get hired the most go in there and see if you already have some of those skills like it might be personal assistant You know, but the cool thing with the internet. That's why I said it's not just the service equals money formula It's not s equals m. It's s plus I with the internet you could be in Bali you could be in, you know Nigeria you could be in Bhutan and You could be a personal assistant to five different people, you know, you can disclose it don't lie to people You could be a service Provider on Upwork or Fiverr. Let's just say something simple. You might say time. I don't have much skills I don't know social media. I don't know e-com. I bet you have some skills I mean if you survive planet Earth If you as a homo sapiens still thriving and allow or alive I should say even if you're not thriving you have some skills. You have organizational skills You have people skills you have execution getting things done skills, you know So you could have five clients on Upwork that you're their personal assistant They text you when they need you that you know when you need to manage five different clients Just say I'm a fractional personal assistant. You charge each of them In fact, a lot of them are happy that you're not their only customer because then you can charge them less money You say look you can hire a full-time personal assistant for seven grand a month or you can pay me two thousand I'll pretty much get it all done You get five clients paying you let's say I would recommend from between 2,500 and 10,000 a month depending on how much you're doing for them You could eventually build a team the team helps you so you could almost be full time You could outsource you could take in the work and then have some other Your own personal assistants that are helping you be the personal assistant So you get you know, let's say you average three thousand dollars a month Five clients only that you can find on sites like Upwork Fiver Or you can reach out dm people on instagram that you know and say hey And once you start getting one or two clients you get them to give you a testimony say tell here's a little ninja trick Say if you give me a testimonial, I've worked for you for three months. I'll drop my price by 10% I'm charging you now on your little personal website or when you dm people you're like, here's the testimonials of six of my customers That are super excited about me And now you get more customers you end up with 10 customers paying you free grand a month 30,000 a month You have your own personal assistants that you found maybe on Upwork one or two You're paying them three grand a month So your inflow is 30,000 us dollars a month and your outflow is six grand You know you put in 24,000 dollars a proc now Some people are going to do less than that depends on how ambitious you are. It's always a little luck But I mean this is doable. There's people right now making you know Two to 20,000 dollars a month just as a personal assistant. There's other things copywriting You can become a copywriter meaning you help people write their ads or you help them If they've got an e-commerce website every product they put up you got to write those little descriptions like amazon You can do that for them You can be a vendor source or you can help people find products for now. I'm going back more to e-com But you see where I'm going with this You can do all you can be a char. You can just say I'll recruit You need more people for your company. I charge a thousand dollars a month and I manage your recruiting And then you go on Upwork for people for them You go on Upwork And then because a lot of people are busy They'll rather pay you two thousand a month to manage their hiring process. Maybe they need secretaries. Maybe they need You know computer programmer devs. Maybe they need graphic designers. Maybe they need copywriters Maybe they need site merge people. Maybe they need e-com Maybe they need a personal assistant and you could say I'm two thousand dollars a month while I'm working for you Plus a bonus of you know 5% of the income of every person I bring to you. So if you bring them a hundred thousand dollar person You get a five grand signing bonus That hr angle. I just saw there's a website. It's a multi billion dollar company All they do is empower global recruiting because now there's a global market. So See how this service thing I could talk I got to go but There's a thousand ways The average ordinary person without genius iq without genius connections with just an internet and a willingness to go out and try At any age in any location male female Whether you you know people or Whether you have high self-esteem low self-esteem Whether you think you look good or don't look good whatever your issue is in the mind There's opportunity right now and the thing I like about service business They're sometimes they're more recession proof if the world ever goes crazy They're a little now suit. Yes, you'll lose some customers, but product-based businesses can be much more fickle and variable Because people have discretionary income and people usually now you there are layoffs I mean, it's a complex conversation. Let me not even go down there But by the way, if you want me to show you how to do this on the e-comm side of things and get customers I'll put this link one more time below go check out this four month mentorship training program that I have And I do a lot with e-comm. I've got 160 million visits to my e-comm Websites just just my physical e-comm websites last year So I can share a lot of Things from the trenches with you. You're not going to learn in any college course or even online courses So I've been doing this a while I'll show you social media stuff Got eight nine million social media followers If you're a realtor you should get in this and by the way this course even though it's around e-comm You can apply what you're going to learn. So click the link My rant is over. I'm hungry. I've been doing intermittent fasting. So Been like five hours since I woke up and I'm hungry. So Leave a comment by below. What did I what's another what's three other service based business ideas that I forgot s Plus i equals money So talk soon