Podcast Summary
Moneymaker Summit: Learn from 8 multi-millionaire mentors at the Moneymaker Summit without buying the book, with strategies for recurring income, sold out twice and an extra day added, and special bonuses.
The Moneymaker Summit offers a unique opportunity to learn from eight multi-millionaire mentors, including the speaker himself, without needing to purchase the book "Money Matrix." This three-day event, which includes strategies and tactics for generating and managing multiple streams of recurring income, has already sold out twice and now offers an additional day due to high demand. Attendees can also enjoy special bonuses as a thank you for registering. Additionally, the speaker is sharing an exclusive experience of visiting a luxury supercar dealership with disruptive men Carl and Tom Hartley, and invites listeners to take a risk and register for the event at bit.ly/podMMS. The middle floor of the dealership is particularly noteworthy as it is dedicated to hypercars, with an average sale price of 280,000.
Business Expansion: Hard work and dedication lead to business success, but expanding and generating multiple streams of recurring income require strategies learned from experts and careful planning to overcome challenges like finding space for additional showrooms.
Success in business often requires dedication and hard work, as demonstrated by the example of selling 408 units of cars worth 280,000. However, even with such success, there's always a desire to expand and generate multiple streams of recurring income. This can be achieved through events like the Moneymaker Summit, where attendees can learn strategies and tactics from eight multi-millionaires, including the host. The event offers exclusive access without requiring the purchase of a book and comes with special bonuses. Time is of the essence as an extra day has been added due to popular demand, but seats are limited. Additionally, expanding a business may require more storage, leading to the consideration of opening another showroom. This could potentially lead to more stock and sales, but finding the space can be a challenge. Overall, the key takeaway is that success in business requires hard work and dedication, but there's always room for growth and expansion.
Business growth adaptation: Businesses must adapt to accommodate growth by making adjustments to their physical space and catering to diverse markets, as demonstrated by an auto dealership's introduction of new models and repurposing of areas.
Businesses must be adaptable and evolve to accommodate growth. The speaker in this conversation described how their auto dealership faced space constraints as their business expanded, leading them to make adjustments and utilize various areas for displaying and storing cars. Additionally, they discussed the importance of catering to different markets, as shown through the introduction of newer, more affordable models like the Ghost, which targets a younger demographic compared to Rolls-Royce. Another key point was the impact of in-person experiences, as the speaker expressed that seeing cars like the GT3 RS in person heightened their appreciation for their power and imposing presence.
Porsche GT models: Porsche GT3 is a road-focused high-performance car with a lighter build and lower price point than the GT2 RS, which is a track-focused, extreme performance car with a higher price tag.
Porsche produces a range of high-performance cars, each with unique characteristics catering to different driving preferences. The GT3 and GT2 RS, for instance, are part of this lineup. The GT2 RS, with its 700 horsepower and a price tag of around €310,000, is the fastest production car on the Nürburgring. On the other hand, the GT3 is a more road-focused vehicle, featuring a lighter build with carbon fiber components, and is priced lower than the GT2 RS. Porsche has a history of creating extreme track cars, like the GT1, which were not intended for road use. The GT3 sits between the GT2 RS and the GT4, which is a more track-focused Cayman model. The GT3's lighter weight and focus on road use sets it apart from the GT2 RS, which is designed for maximum track performance.
Targa vs Aventador driving experience: Though Aventador has a more powerful engine, Targa offers a more comfortable driving experience with its split roof design that reduces wind and noise exposure when lowered.
While the Aventador has a more powerful engine with 700 horsepower compared to the Porsche Targa 4S's 500 horsepower, the Targa offers a more comfortable driving experience due to its split roof design. The Targa's roof can be lowered without exposing the driver to as much wind and noise as a full convertible, making it a preferred choice for those who want to enjoy the feeling of driving with the top down in various weather conditions. Additionally, the design of the Targa's back section that covers when the roof is up makes it look different from the Aventador, and colors are a personal preference that can sell quickly or slowly depending on individual buyers' tastes.
Rolls-Royce Phantom Drop Head: The Rolls-Royce Phantom Drop Head, especially the early series one model, was a highly desired luxury vehicle among the elite, selling for £150,000. Unexpected finds, like a BMW M3 competition in a gym, can also be profitable acquisitions.
The Rolls-Royce Phantom Drop Head, specifically the early series one model, was a desirable luxury vehicle even among the elite, as evidenced by Chris Ubank's ownership of one that sold for £150,000. This car, referred to as the "Big Daddy Rolls," is massive and boat-like in its stature. Rolls-Royce produced two series of this model, with the later series two selling for significantly more due to lower mileage. The BMW M3 competition, a lower-priced model, was an unusual acquisition for the dealership, purchased in an unexpected location – the gym. The color of the car, while not specified, is also a desirable feature for this model. Rolls-Royce and BMW are popular brands in the dealership's inventory, and they consistently perform well. Cars can be found in various places, even in the most unlikely locations, making it essential to keep an open mind for potential acquisitions.
Car Value vs Brand: Brand impact on car value can vary greatly, with some prestigious brands maintaining high resale value while others may not, and personal preferences and balance between performance, features, and cost play a significant role in determining a car's worth.
While the BMW discussed offers a good car with impressive performance and various extras, its value is impacted due to the absence of the prestigious BMW brand tag. On the other hand, the Bentley GT3R, though expensive and heavy, is a rare collectible with unique features, making it worth the investment despite its high price tag. The Maserati MC20, a new model with unique doors and cool looks, initially didn't hold its value well but now offers good value for money. Ultimately, the decision to buy a car depends on personal preferences, brand loyalty, and the balance between performance, features, and cost.
Used Maserati: Buying a used Maserati can offer significant value compared to buying new, with desirable features like a carbon roof and carbon sills at a lower price
Used cars, specifically a year-old Maserati, can offer significant value compared to buying new. The speaker expresses surprise at the price difference between a new Maserati at $280 and a used one at $175. He notes that Maseratis have a reputation for being expensive and potentially risky investments. The used Maserati in question, being only a year old, still boasts desirable features like a carbon roof and carbon sills, making it an impressive purchase for the price. The speaker plans to inspect the car further with Karl. Overall, the discussion highlights the potential benefits of buying a used luxury car, especially when it comes to Maserati models.