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Strike It Big

The Money Expert: From $0 to Multi-Millionaire Without Trying Hard (Timothy Armoo)

Aug 23, 2023
Timothy Armoo, a multi-millionaire entrepreneur who sold his tech business for multiple 8 figures before the age of 28, shares his journey and offers advice on acquiring skills, building a valuable network, and selling a business for tens of millions. They discuss the distinction between an entrepreneur and a businessman, the lessons learned from making and losing money, and strategies for driving customers and overcoming financial mindsets. The chapter also explores the process of buying and selling a business, the value of shared experiences, and the importance of understanding the game for success.
01:34:58

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Quick takeaways

  • Focus on business problems and models rather than specific industries to increase income potential.
  • Incorporate target businesses, a repeatable process, and recurrent revenue in your business strategy for increased success.

Deep dives

Focus on business problems and models, not industries

When starting a business, it's important to focus on business problems and models rather than specific industries. Targeting businesses can be more lucrative as they often have more money and more problems to solve. Look for opportunities that help businesses make more money or save costs. Additionally, aiming for recurring revenue in your business model can provide stability and steady cash flow. By focusing on these factors, you can find success regardless of the specific industry you choose.

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