Keep It Simple.
In this fascinating episode, Jay explains the quickest way to make more money for anyone. He shares the techniques and processes he uses when working with entrepreneurial mentees, shaping and growing their businesses.
Jay takes us through practical advice that can be implemented rapidly and will quickly lead to more income.
- Look at what you already have
Record all the income streams you have, this may be one or multiple streams. What is generating income now? How can you generate more income from your current income stream. This is the quickest way to make more money.
- Double up
If you are already making money from something then the quickest way is to double up. There will always be opportunities for innovation but it’s important to never neglect the money-making part of the business.
- Systemise it
If you have reached a ceiling with your current income stream, don’t want to work in it or grow it further then you should systemise it.
Entrepreneurs, by their nature, like new ideas so the danger is that you pursue this and neglect the income stream that is making you money. Systemising your business can help to ensure that the money-making income streams run smoothly.
- Use a proven formula
If your motivation is to make money very quickly so you can build your business around it, then use a proven formula.
Something that has been done before, something that has positive results, an industry that is making money.
Get the education, get the mentors, get the mastermind and be part of something that will give you the information you need to make it a success.
Once you have created more cash flow you will have more freedom to innovate and develop new ideas
‘Go into an industry where you know you can make money’
‘If you don’t look after it the income stream that is making you money will dry up’
‘You may see a new and shiny idea and think it’s going to make you lots of money’
‘You’ve already got the systems in place’
‘Look at what you’ve got initially then move forward’
‘You get bombarded by loads of videos telling you how to get rich in 30 days’
‘You don’t need to overcomplicate it’
‘Ultimately we want to do it for ourselves we want to be the first into the market, innovative and find something different’
ABOUT THE HOST
Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0-500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.
Its huge success inevitably brought about outside interest and at the age 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.
A calling to give back and help others led to Jay being chosen for the highly-coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.
After helping several young entrepreneurs to success as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.
Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.
In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.
Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.