Income tax 2022-2023, business expenses, rent expense. Let's do some wealth preservation with some tax preparation. Support accounting instruction by clicking the link below, giving you a free month membership to all of the content on our website, broken out by category, further broken out by course. Each course then organized in a logical, reasonable fashion, making it much more easy to find what you need then can be done on a YouTube page. We also include added resources such as Excel practice problems, PDF files and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. Most of this information comes from the Tax Guide for Small Business for Individuals Who Use Schedule C, Publication 334 Tax Year 2022, you can find on the IRS website, irs.gov, irs.gov. Looking at the income tax formula, we're focused on line one income. Remember in the first half of the income tax formula is in essence an income statement, but just an outline. Other forms and schedules flowing into these line items, one of those, the Schedule C. Having business income minus business expenses, the net business income from the Schedule C flowing into line one income of the income tax formula. When we look at page one of the Form 1040, note that the Schedule 1 is what the Schedule C flows into and then it flows from there into page one of Form 1040, line number eight. The Schedule C is a profit or loss from business. Having an income statement format, income minus expenses, we're focused here on the expense side of things and specifically on the rent expense side of things. All right, so rent expense. So when we think about rent expense, just remember we're not thinking generally personal rent. We're thinking the business rent's got to be ordinary and necessary for the business. You might be asking and thinking, well, hey, I do my business in my home. Well, then you have a home office type of situation and you might be renting the home or you might be owning the home. If you rent the home, then yes, some of that rent might be business related in a home office kind of system. Okay. So let's get into it. Rent is any amount you pay for the use of property you do not own. So we know what rent is. It's not our stuff. We're renting it. We're just using it. We're paying for the use of it. So in general, you can deduct rent as a business expense only if the rent is for property you use in your business. So if you use whatever office building in your business or if you're renting equipment or something like that similar type of situation, then it would be a business expense you would think and you would be expensing it when you make the rent payments usually. So if you have or will receive equity in or title to the property, you cannot deduct the rent. So this is where it gets messy because if you imagine buying a piece of equipment, for example, then if you were to buy the equipment and finance the equipment, that's different than say renting the equipment. And a lot of people get this confused. And I think one of the reasons is because of the main thing that we purchase, the big thing we purchase as a home on the personal side of things. And we're so used to people saying, well, I don't really own the home. The bank owns the home. And they're referring to the fact that the bank has has a loan that's secured that's secured by the home. And it's used to I think that's a joke, right? It's used to be a joke. Well, the bank owns, you know, 80% of my home, but they don't really own 80% of the home. They have a loan. You owe the bank and the loan is collateral. They only have access to the to the home if you default on the loan. And the way to realize that is obviously the bank can't come to the kitchen table and have a discussion and say I own 80%. And therefore we need new rugs in the in the living room or something, you know, we need to redo the kitchen. They don't get to vote on that kind of stuff. So renting is is different than financing. So if we apply that to like a piece of equipment, then then if we if we finance the piece of equipment, then we've got the loan that we have to put on the books to deal with. We're going to be paying interest on the loan, which is kind of like a rent on the purchasing power in order to buy the equipment. The equipment will be on the books as an asset because we couldn't expense it most likely because it's a big piece of equipment we're going to use into the future. And then we expense it in the form of depreciation, possibly being able to have the 179 deduction or and or the special deduction to allow us to expense a lot or all of it upfront. If we rent it on the other hand, then you can imagine we have a piece of equipment that we are we're going to be paying rental. Now, because we don't actually own it, we're not going to be able to put it on the books and depreciate it. But instead, we're going to be paying for it and expensing it when we make the rental payments. Usually you're going to, as you use the property, you make the rental payments and you would be expensing it in the end when you make the rental payments. Now, these days, you would think those two methods would come out somewhat kind of similar in that, like when you buy the property, they you usually allocate the depreciation over the useful life.  But these days, you get that massive 179 and special depreciation. So if you buy it, then that could be a benefit to the purchaser of over renting. If you get that massive deduction upfront, whereas if you rent it, then you're not going to get that massive deduction upfront. If it's a normal rent, you're going to be getting the deduction when you pay for the property because you don't actually own the property. Now, it's possible to try to set up a situation that's structured in form as though it's a rental agreement, but in actuality, it's a purchase. So for example, if you said, if they set up an agreement that basically said that you're going to rent it for the life of the equipment, or that you're going to be able to purchase it for $1 at the end of the rental agreement, or you're required to rent it for so long that it'll actually account for like the whole purchase price of the equipment, then in format, you've actually bought it and you set it up as a rental agreement for whatever reason, possibly tax reasons on either the seller or purchaser side that preferred it to be formatted as a renting agreement as opposed to a purchase kind of system. So then we get into these issues where, well, was it really a purchase, even though it looks like a rental thing, and do I have to treat it as a purchase or a rental thing? Okay, so unreasonable rent. So you cannot take a rental deduction for unreasonable rents. Ordinarily, the issue of reasonableness arises only if you and the lease are related. So if you have a market transaction, which we might call like an arms length transaction to people that have opposing interests in the transaction, usually the person that's renting the property wants to have as low a rent as possible. And the person that is the rentor wants to sell it or rent it for as high as possible. But if you have related parties, then everything goes out the window because if a father is renting to a son or something like that, they can start to manipulate or try to manipulate between the payments in order to maximize, say, tax benefits or something like that. So whenever you have a related party transaction, you get into these rules of, well, these types of transactions need to be reasonable, whatever that is, which, you know, what it would be for a market transaction. It's hard to tell because it's not a market transaction because you have related people in it. But rent paid to a related person is reasonable. If it is the same amount, you would pay to a stranger for use of the same property. Rent is not unreasonable just because it is figured as a percentage of gross receipts. Related persons include members of your immediate family, including siblings, either whole or half, your spouse, ancestors and lineal descendants for a list of the other related persons. See section 267 of the internal revenue code, rent on your home. If you rent your home and use part of it as your place of business, you may be able to deduct the rent you pay for that part. So if you, so this is the home kind of issues. You can't, when you're talking about your home, if you own the home, if it's a house you own, then you may be able to get the interest deduction, which is a big deduction and property taxes on the schedule A. And we talked and so that's a whole nother kind of thing. Those deductions lead people to kind of be confused about the nature of normal deductions for an income tax system, because you would think in an income tax system, the deductions that would be applicable that you can take are those that you needed in order to generate revenue. So if it's a personal deduction, you would think normally they wouldn't be deductible unless there's some other rationale for the law to do that. In this case, though, you're saying if you use the home for your business, then you might either rent the home or own the home. If you own the home, then you have interest that you're paying and you have the property taxes, which you might be able to allocate to your to your business, part of them and part of them to schedule A. So then you've got the splitting thing. And then if you rent the home, then you get you might be able to get a benefit from the part from the rent from part of the rent, which could be huge, of course. So and that would be coming to the business use of the home. So you must meet the requirements for business use of the home. So it's a whole nother topic in and of itself that you can dive into for the business use of the home. But the general idea is that you have to have some part that's going to be laid out for your particular business and possibly you can use a ratio type of analysis of the square foot of your business part versus everything else. And you can't just have some non business place that you do some business in. It's got to be, you know, usually strictly related to business. So if you do if you do some work, sometimes on your laptop in bed, you can't you can't deduct the square footage of your bed ratio rent deduction because presumably you do personal stuff like sleep in there too, which isn't business related. So so for more, so for more information on that, you could see business use of your home later. OK, rent paid in advance. And now we're getting some funny business on the rent because note that you might be on an accrual system or you might be on a cashed base system. If you're on a cashed based system, then normally you take the deduction when the cash is paid, but you can start to manipulate a cashed based system by saying, hey, look, if I think I made more money this year, then next year I'm going to make a deal with my landlord that I have that I pay my business rent to for my office building and say, look, I want to pay you all of my rent for the next three years on December 31st so I can deduct it all this year because my income was substantially higher this year for whatever reason, and that will be more beneficial for tax purposes. But the IRS is going to frown upon that kind of activity and try to put some rules in place against that. So generally rent paid in your business is deductible in the year you paid or accrued. So if you aren't accrual basis, that would mean that you pay the rent when you actually used the the business office. So if you pay rent in advance, you can deduct only the amount that applies to your use of the rented property during the tax year. So there they're putting their foot down on that one. So you can deduct the rest of your payment only over the period to which it applies. So for more information, you could take about rent. You can see chapter three of pub 535. You can find on the IRS website, iris.gov, iris.gov.


Hi, I'm Chris Thompson from Investor Intel and today we're with Robert Valles, the CEO from Signature Resources, ticker symbol SGU on the TSX Venture Exchange. How are you today, Robert? I'm fine. Thank you, Chris. We're here to talk about your company and your projects and I must admit to everybody, I am a shareholder, a big fan of the company. I like the fact that you were in a great address in the Red Lake District of Northwest Ontario. You've got some historical resources so you know that you have an historic mind, always a good place to be looking for more gold and you've been drilling and getting some pretty good results that you just announced. So why don't we start there with your latest results? Thanks, Chris. Yeah, we've had some really good results come out indicating depth extensions of the existing mineralized zones you just spoke of. That is what we're focused on now. We are now finally in newly positioned with our own two drill rigs crews and supplies to continue on this 10,000-meter campaign. We're doing extending the mineralization to depth as well as extend the footprint of that in all directions east, west, north and south. We do have in a release recently significant amount of the geophysics that we've completed indicating that we've got certainly a much larger footprint and we're beginning to focus our drilling on those areas. Yeah and the results you hit, you had some pretty good grades there. I think you had you know some six meters with you know some five or six grams per ton which is good and that's somewhat similar to the existing historical resource. So what is that resource right now? That historical resource you know we continue to work on moving that into a 43-101 compliance as a foundation for what we're adding to and growing. That right now is about 234,000 ounces just under seven grams. So a strong showing in that resource is directly from surface only down to and delineated to 180 meters depth. So it's an indication of the richness of the system for sure. And you released in September that some of the geophysics were indicating that maybe you had six other sort of zones you were looking at. What was the interpretation on those results? Oh well those are the areas we're going to be moving into around early to mid-November with our drilling once we complete more of the deep extension drilling to the existing zones. But these zones these areas these target areas you speak of that we've put out are indicating certainly strong potential that the existing zones continue well to the east but also we have new zones that are continuing north and south from those existing zones. So the footprint of that mineralization as I mentioned earlier is much larger than first anticipated as well towards the west which is also a chief focus of ours the mineralization we know is moving towards the northwest. So that's another area that the geophysics is favoring us to continue expanding as well. And you mentioned that you were drilling into November. What sort of drilling can you do sort of starting at the towards end of the year next year? What infrastructure access? As I mentioned we've embarked on in mid-September a 10,000 meter drill program. That's what we're in the middle of and of course we'll be as I said continuing to depth but also moving to these new targets throughout this campaign. That'll take us into early in the new year. And the size of the project itself it's a fairly large land package. What is the total size for investors who may not know much about the project? This is an incredible land package. It encompasses nearly 90% of the entire Greenstone Belt that we reside in that geologic environment the Lingman Lake Greenstone Belt. It's just under 300 square kilometers over 32 kilometers east west strike length. It's a significant package. We've recently run airborne geophysics on that entire updated and expanded land package now which we'll be releasing soon within the next week or two. That certainly is indicating that we have a massive potential for additional discoveries within our land package and that's the other side of the coin and effort that we're working on is advancing that regional discovery potential towards new discovery. Either way we're fully funded to do both into the new year and certainly that's our focus in terms of a two-pronged approach to bringing significant and rapid value to our shareholders. Yeah and for investors who don't know about Greenstone Belts they hold often quite economic mineral deposits and in that area right now you've got a couple of neighbors who have got fairly good projects. One is Yamana which has Monument Bay and then the Newmont Muscle White Mine which produces about 200,000 ounces of gold. So I think you've got the right address up there. What are your thoughts on that? Most definitely. As I said it's most favorable country for finding large-scale high-grade gold deposition and that's certainly what we have, what we're growing and what we're looking to find more of. And what do you foresee for news releases over the next couple of weeks for investors? You mentioned you're doing the drilling. What is your turnaround time these days for drill results? I think we're beating the average. We're down to probably three weeks thereabouts down from four to six weeks at least. So I think we're doing quite well on that front. I did mention earlier, I stay focused on risk and keeping our risk profile low. So it's a big reason why we own both of our rigs. We have our own crews and have our own consumables. Consumables alone for drilling have a four to six-month delay now with the supply chain challenges that are out there. So de-risking is a big part of our profile for sure and moving forward with that it's something that's generating value for us and allowing us to just put our heads down and drill 24-7, snow, no snow, whatever all year round to deliver these values quickly. Well, thanks for the update. I appreciate your time. Today I was talking with Robert Valles who is the CEO of Signature Resources. The ticker symbol is SGU on the TSX Venture Extains. Thanks for your time today Robert. Thank you Chris.


Hey! Hey there, doosquad, it's Logan here and we're gonna give you another VH video! Enough of today's video, I've been wanting to do this for quite some time because recently, like, I've been wanting to get into some groups that I have been listening to quite a lot and one of those groups is Seventeen, I also named a few of them, EXO, Ace, oh my god, Ace, oh my god, Ace are amazing, oh my god. Oh my girl, MoMoLan, like there's just so many groups, like there's like crap ton more that I really want to get into but I decided that I want to learn the members for Seventeen mainly because it's got the most amount of members and I feel like it would just be a lot of fun if I got to learn the members because I don't know, just imagine knowing 13 members for a group, okay?  But yeah, I would love to learn the members of Seventeen. So what I decided to do today to help me learn the members is watch an unhelpful guide to learning the members because this isn't always like the best things ever, like unhelpful guides, like hello, they're unhelpful and I need to have some helpful videos so why not watch an unhelpful one. Oh yeah, let's just get straight into this. Oh, I forgot to do the colors of the light, should we go, should we just stick with this? Oh, should we go pink? Pink? What's Seventeen's main color? Let's have a look at this, it looks like pink and blue actually. I think it's pink and blue, so why don't we go pink and blue for our lights to get seen. For our main light, let's go pink. Oh, that's a deep pink, holy doly. And then for the other light, let's go blue. Yeah, pink, blue, let's go. Let's keep things up. I love the song so much, I'm so excited for the song. It's like one of my favorites. The performance member, first member. Hoshi, Hoshi, his real name, Kwon Sooyoung. Seems like a good name. One for the gag trio, Koryo's one for Seventeen. Dancing King.  Such a good song. Okay, Hoshi, Hoshi the dancing, dancing lad. Next to me, but okay, okay. His real name, Zoo Minghao. Do you guys just call him Minghao? Ming, Minghao? Yo, he's got a good voice. I love that part. Oh, I just spat, but did it just spit on his tippy toes?  Jun, Jun, Jun, Jun, Jun. Wait, was he the one that had the long hair and um, very, very nice. Nice. So there's Dino, Dino, Dino, Dino, Dino, Dino. Oh my god, I thought I'm not going to remember everyone.  I think I'm going to have to learn the members in some um, um, line distribution videos. See, that's the guy I forgot. I completely forgot him. I forgot his name. I feel terrible. And I was saying he was my bias and I forgot his name. How can I do that? But this song though, Pinwheel, beautiful, beautiful. Like, Seventeen make amazing music. Sometimes, like, after Seventeen's songs are BTS songs, because they're just so good, because there's so many members. The diversity is good with the vocals. So I love freakin Seventeen a lot. But Seventeen is. Woosie. That's his name.  Woosie.  I got this on my playlist. Dude, oh my god, Woosie. Woosie. It was my bias. He's small but cool. And he's got a beautiful voice. So good.  He makes the songs for them? I think Woosie has to be my bias. I think Woosie has to be my bias. I think Woosie has to be my bias. I think Woosie has to be my bias. I usually somehow pick the people that make music as my biases. I'm not lying. I'm not lying. Like, I somehow always do that. What's the guy groups? Because I'm not, I don't know, well, I haven't, I don't know if any of the girls that I have as biases make music, because I haven't really gotten into that that much. But for the guys, I always seem to choose the guys that make music. Next member, Ji-Yong Han. Ji-Yong Han, please don't miss Jin to him. What? Wait, what? You used to have majestic wrong hair. Oh, so this was the guy that had the majestic wrong hair. Ah, that dog hair was dope. Okay, that was dope. He looks so good in, um, they're nice. Ah, he's my spirit animal. Just leaving wherever he wants. Joshua. We see each other. Hell yeah. Los Angeles, boy. Yeah, that's very non. Like nearby, yeah, nearby Staples Center. Okay, of course. Hey, man, he's an LA boy. I didn't know he was the one that had the high notes. Holy moly. Oh my god. Don't want to cry. It's such a good song.  Oh, it's so negative, but it's so good. Oh, dude, it's down to Woozi or Seungkwan, man. It's down to those two.  Yo, yo, DK. I don't know. Seungkwan. We're going to the rap line now. Wait, what was the student called? There's performance, vocals. I forgot what this one was called. I always think of it as a rap. Oh, hip-hop unit, hip-hop unit. I was so sad I could not find this song on Spotify. So this is, it's coops, it's coops, coops. Ready to talk about what's over there. Yo, that's me. I'm six foot two, almost six foot three. And I'm clumsy as they can be. I've done that before. One way, one way, one way. Soft. Hell yeah, man. Got the song. Oh, I need to turn this up for me. I love the song so much. Probably 17s made so many good songs. Oh, that is a deep voice. Vernon. He's America, but I'm more cultured.  I'm not kidding. I'm in, I don't know. I can sing. I didn't know this was him singing and stuff. I put it, I put it just wrapped. Oh, yo, I'm doing something awesome today. Hey man, how are you, man? So yeah. Oh, you're just going to cut off right now. I see how you are. Okay. Okay, so that video is actually pretty helpful. I learned a couple members from that. I learned Hoshi, Seungkwan, and I remembered Woozi's name. So yeah. And I also learned that Vernon can sing. Like, holy moly, man. Like, holy moly. And I'm actually happy that I actually managed to learn two new members, but really remember Woozi's name. So that's actually freaking dope. Seungkwan, she burned on. And then, oh, and DK. I can remember DK's name, but not his face. So, you know, it's gonna take a while for me to learn all the members. I'll do some behind the scenes stuff, you know, react to, well, not react to, watch some line distribution videos, because usually those help me a lot when it comes to learning members. So I'll watch a few line distribution videos for 17 and try to remember some people because I know it'll be really helpful. That's how I learned Pristin. I learned Pristin through the line distributions. And oh my god, Pristin's amazing. And it didn't even take me that long to learn Pristin's members. It took me one or two days of just watching their line distribution. So I reckon I reckon I might react to a couple line distribution videos. Actually, now line distribution videos will be boring to react to. I'll find some funny moments and stuff for 17 and hopefully tonight try to remember the members, because holy crap. This group seems like it's gonna be a fun, extra funny group, but I cannot wait to get into them. I want to stand these guys, but I don't know the members. And I feel like once I know the members, I'm gonna be fully standing them because holy Cremolty, this was good. But yeah guys, I think that this is gonna be obviously who you guys did enjoy. And if you guys did, then definitely show some support by leaving a like and also comment down below some 17 videos you want me to react to now. I'm pretty sure they are actually having a comeback tomorrow. And it's called Thanks and it's a special album. So I'm definitely gonna react to that. My reaction will be out. I'm calling it 25 minutes after the video has been released. My reaction will be out. So stay tuned for that. Just be on my channel, just waiting for it because I will be the fastest one out there. Because I like to think that I'm the fastest one out there. But yeah, subscribe. There'll be more 17 videos. That was just my moment of pride just then. But yeah, anyways, 17 videos will be a lot more to come. So stay tuned for that. And yeah, I hope you guys have a great day.


Hi guys, welcome back to my YouTube channel. This is Daniel Rose here. I want to do a video today about setting a custom white balance on the Canon VIXIA HFR800 camcorder. Now there is an automatic white balance function, an AWB function, but you're also able to custom set a white balance. And the cool thing is that it will persist through a reset, in other words turning off the camcorder. Now reading from the official Canon instruction manual for the VIXIA HFR800, to set a custom white balance, point the camcorder at a white object so it fills the screen, touch set white balance. When the adjustment is completed, this symbol stops flashing and disappears. The camcorder will retain, this bit's very important, the camcorder will retain the custom white balance even if you turn it off. So once you're on that custom white balance, it's kind of dialed in until you set it again or you go back to auto, but even if you go from auto back to custom, you're going to be using the last custom white balance. So that's really, really important to know. Now you can use a white object. I don't think you have to be discriminatory. Some people will use a piece of paper. Some people will use a napkin, but I picked these things up from the internet. This is Ali Express Purchase here. I'm sure it's also available on eBay. It's a three-card white balance setting tool.  I'm not sure exactly what gray and black is for. This is when I use the white. These things are really handy. This thing was about $1.78 or $1.50. I bought about five of these, and I just keep them in every camera bag. So I always have it ready. And it really does make a big difference in terms of getting the color in your footage looking correct. So that's how it's done according to the manual. And let's just take out the Vixia and actually go through the process. Okay, so I've just got my Vixia now up on a tripod of sorts. And turn it on, flip out the LCD screen, of course. Then click on the bottom right. There you'll get to the main navigation. And to get to white balance, you need to just zoom it, scroll down a little bit, and it's there on the bottom right. It's labeled WB for white balance. So click on that. Now, the first thing you're going to get to is going to be you've got automatic, which is AWB. Then you've got a daylight preset. Then you've got a tungsten preset. And then this guy is the custom white balance custom WB. I want you to click into custom WB. There's a little button there saying set white balance. So what you want to do now is get your white balance card at the ready. And I put it in front of the lens so that occupies a whole frame. I'm just trying not to get my fingers in there. So now I'm looking in the monitor and I can see that the frame is filled with the white balance card. And now there we go. Now we're going to do set white balance. And you can see the white balance is adjusting, adjusting, adjusting. And once it stopped flicking, it's filed in. And now if I move this throughout the room, it should be it should be dialed in pretty much correctly.  But I have brought this guy out into the field into the field in summer. I'm recording as fits in a pocket. Take out this, go through the custom white balance. And I actually do that. I'm trying to do that now before every time I'm using this camcorder in a different, different lighting condition, whether that's going from inside to outside or outside to inside, especially if you're doing shooting for any period of time in a certain light environment, I really do find that it makes a big positive difference. Hope this video was useful. I should like to get more videos from me. Please subscribe to this YouTube channel.


Sharps Tiger. By Bernard Cornwall. Read by Rupert Farley. Chapter 1 It was funny, Richard Sharpe thought, that there were no vultures in England. None that he had seen, anyway. Ugly things they were. Rats with wings. He thought about vultures a lot, and he had a lot of time to think, because he was a soldier, a private, and so the army insisted on doing a lot of his thinking for him. The army decided when he woke up, when he slept, when he ate, when he marched, and when he was to sit about doing nothing. And that was what he did most of the time. Nothing. Hurry up and do nothing. That was the army's way of doing things, and he was fed up with it. He was bored and thinking of running. Him and Mary run away, desert. He was thinking about it now, and it was an odd thing to worry about right now, because the army was about to give Richard Sharpe his first proper battle. He had been in one fight, but that was five years ago, and it had been a messy, confused business in fog, and no one had known why the Thirty-Third Regiment was in Flanders, or what they were supposed to be doing there. And in the end they had done nothing except fire some shots at the mist-shrouded French, and the whole thing had been over almost before young Richard Sharpe had known it had begun. He'd seen a couple of men killed. He remembered Sergeant Hawthorne's death best, because the sergeant had been hit by a musket-ball that drove a rib clean out of his red coat. There was hardly a drop of blood to be seen, just the white rib sticking out of the faded red cloth. "'You could hang your hat on that,' Hawthorne had said in a tone of wonder, and then he had sobbed, and after that he had choked up blood and collapsed. Sharpe had gone on loading and firing, and then just as he was beginning to enjoy himself, the battalion had marched away and sailed back to England. Some battle. Now he was in India. He did not know why he was invading Mysore, and nor did he particularly care. King George III wanted Richard Sharpe to be in India, so in India Richard Sharpe was, but Richard Sharpe had now become bored with the King's service. He was young, and he reckoned life had more to offer than hurrying up and doing nothing. There was money to be made. He was not sure how to make money except by thieving, but he did know that he was bored, and that he could do better than stay on the bottom of the dung-heap. That was where he was, he kept telling himself, the bottom of a dung-heap, and everyone knew what was piled on top of a dung-heap. Better to run, he told himself. All that was needed to get ahead in the world was a bit of sense and the ability to kick a bastard faster than the bastard could kick you, and Richard Sharpe reckoned he had those talents right enough. Though where to run in India? Half the natives seemed to be in British pay, and those would turn you in for a handful of tin pyser, and the pyser was only worth a farthing, and the other Indians were all fighting against the British, alreadying to fight them, and if he ran to them he would just be forced to serve in their armies. He would fetch more pay in a native army, probably far more than the tap-and-sa-day Sharpe got now, after stoppages, but why change one uniform for another? No, he would have to run to some place where the army would never find him, or else it would be the firing squad on some hot morning. A blast of musket shots, a scrape in the red earth for a grave, and next day the rats with wings would be yanking the guts out of your belly like a bunch of blackbirds tugging worms out of a lawn. That was why he was thinking about vultures. He was thinking that he wanted to run, but that he did not want to feed the vultures. Do not get caught, rule number one in the army, and the only rule that mattered, because— People complete. Ready to continue?


Let's go. Thank you. Hey guys. Whitley wanted to say hello. Want to show me? Want to show me a cat? Want to show me a cat. Show me a cat. Hold it up. Go get it. Go get mommy. You want to go get her? Okay. She wanted to show you always her cat. Give it up for Whitley. Hey, I've heard a lot of incredible things today. Have you guys got a lot of value out of today? This is a strange setup. I feel like I'm right here with you. This is good. Now, good to see everybody. Glad to be back. I came and did the event with Joe right before the entire economy shut down and we were locked in our houses for what seems like forever. So I just want to shout out to Joe, all the other speakers. I thought this was really incredible. If you guys got a lot of value, make as loud of noise as you can. Now, how many people here are already following me to some extent? Okay. Well, let me try the other way. Who's not? Okay. Okay. Few people. Cool. Mom, I'm Ricky. No, today, you gave me 30 minutes to speak. So I don't have a lot of time. I really think the most value is going to be more Q&A. So what I want to do is basically tell you my thoughts on the market right this second, kind of what I feel like where we are and kind of give you some direction and some certainty because I feel like maybe for me, there's a lot of certain.  But last year, there was a lot of uncertainty. Right. We know what was going to happen. There was a lot of uncertainty in 2020 when the pandemic hit. There was a lot of uncertainty in 2022 as everything went to the roof. And I feel like a lot of people feel like there's a lot of uncertainty this year, but this is the year I feel like there's a lot of certainty in the market. So I want to help you guys if you feel like the market, you know, if you feel like there's uncertainty in the market, that's what I want to do. Right. So if most of everybody's been following me for a long time. So you know that I'm kind of the voice of reason in the market. I'm the voice of positivity in the market. I want people to have a better outlook on regardless of which way the market goes, you win. Because I've always said and I've always believed that real estate's a win-win no matter what. For some reason, people don't fail in real estate. Right. People quit before they start succeeding. And a lot of times it takes way longer than they expected.  Does anybody disagree like when you got in the real estate business, okay, you probably had a preconceived notion that it was going to be really hard. But was it not 20 times harder than your expectations? Disappointment, frustration. Every single agent in this room in the beginning of your career went through disappointment and frustration. And almost probably a case of depression. Right. In your first year. I don't care who you are or how great of an agent you are now or if you're Ryan Sirhant or any of the great, even Beau, any of these great agents that have made so much money and sold real estate, their first year was hell. And so shout out to everybody here that has made it through that part of your career. And now you're to the, you know, every year gets easier and easier. And especially if you put the right systems and the right processes in place to actually scale your business. So the first thing I want to talk about is scaling. Because a lot of people probably in this room because average wise what you find is agents build their business up to 150, 200,000 a year and then they stay right there forever. They never really break through to the 250 to the 300 to the 500 to the million dollars a year. And they just kind of feel stuck. And so the first thing to understand about that is that what has happened is that you've basically tricked yourself into thinking that if you just worked your database that you've built over the last two or three years then you're going to continue to grow. But you're not. Unless you're adding new people into your database and meeting new people and adding people into your sphere. So your database is your sphere. We call sphere of influence people that we already know, right?  But as you get into real estate your clients become your sphere. And now it's a battle. It's a game. It's a contest. It's a challenge to see how large of a sphere you can build in your, in your market. Most people either do really well at maintaining their database, which you only maintain your business or they're really well at selling and not maintaining and just going to find another client selling, find another client selling, but nothing on the back end to retain those clients. Just think if your business and your systems was revolved around, you know, meeting new people and selling, but then having a mechanism on the back end to stay in touch with them forever, how massive your business could be over the three to five to 10 year period. And the accumulation of people within your database that know who you are, right? And I was on Kevin's podcast and then we're asking about like how do you, how do you follow up with clients, you know, in a manner where there's a good chance they're going to use you as an agent, right? And you know, stand out from all the other agents that are out here basically doing the same thing. And the answer is communication skills. When you talk to them that first time that they think, wow, this person is different. I can feel it oozing off of them how much they care about me. They weren't trying to sell me. They were trying to figure out what I'm trying to do so they can help me. But 99% of agents are just, you want to sell them? Here's the prices. Would you sell if I could get this? I don't know you at number one. And if I did, I'm not going to use you, right? I could throw a rock and hit one of you. But when you approach people in a way where you're treating them like family. See, when you get to the point where you're treating your prospects like family, now you really got something because they feel that. When I lost everything in 2008, right, it was really 2005, 6, 7, and went completely broke, homeless, sleeping in my car, eating out of people's refrigerators, sleeping on people's couches, roofing houses, working on an oil rig. When I came back in the business and took the lessons I learned from that moment, right, the two lessons were this. When I was on the oil rig, I realized that my clients were still buying and selling when I was out of the business. The clients that I represented in 2003 and 2004, they were still buying in 6, 7, and 8. They were selling bad assets and buying great assets. And I was like, bam! If I would have maintained the relationship with those clients, I would have represented them on those deals. But I wasn't in the mindset at the beginning of my career to create relationships and stay in touch with people. Why? Because I could make 10 phone calls, find somebody who wanted to make 100,000 or 200,000. Sure, I'll make 100,000 a day. Cool, sign this. I'll sell your condo. Very cold transaction. Here's my 30,000. There's your 150,000. Have a great life. I'll go make 10 more calls to make another 20,000. I don't need relationships. I can just make 10 calls and make 20 grand. 10 calls, make 20 grand. That's the market I was born into. So I didn't understand the importance until I lost everything and had to really think, okay, I'm the hardest working guy that I know. I'm the most honest, dependable person. Why did I fail? How did I lose everything? Right? So I had to really, you know, that was the greatest moment in my career, was losing everything and going back to zero because it made me kind of figure out who I was but also understand the business and understand cycles of the market. And when you understand cycles of the market and you understand what I'm saying about building, if you build a relational business, then it doesn't matter what the market does because the second thing I learned was that closings happen every single day no matter what. Forever. Because I was on the mindset that nothing was happening. Maybe there was two or three deals. But I wasn't actually looking. I'm just assuming because all my clients went away. And that's what, that's the trap we get called in. When a market shifts, you've got clients that you're working with and when whatever happened that made that market shift, it scared everybody, temporarily. But it made everybody just take a step back and say, wait a minute, let me see what's going on. That's what happened with pandemic, that's what happened with interest rates. Interest rates went up in March, what happened? A lot of buyers took a step back and they just wanted to see what was going to happen. Some of those buyers are still on the fence right now waiting to see what's going to happen. Some of those buyers have come back though, right? Let me just catch the temperature of the market here because it's different everywhere. Markets are super local, right? But let's just say since the first of the year, since it's been so close, are we seeing an uptick in buyer activity right now? Okay.  Are we seeing any multiple offers on stuff? Okay. What have I been talking about for a year ever since interest rates started going down? We're fixing to have another surge because the thing is guys is that when we see a reduction in transactions, that's only building up demand. Demand is building.  We're sitting in our homes and I'm like, I'm thinking to myself, wow, this reduction in transaction is going to create such a massive surge on the back end. So I put a video out. I could sit here and tell you a lot of things that I think about that I've put out online. I could name a lot of different things where I'm like, this is going to happen and it's not because I'm a, what do you call those people? Genies? Whatever. I'm not one of those people. But the fact is that I've been through these market cycles so many times, it's like the market moves in slow motion. It's like you can see what's happened in a mile away. So I want to run this scenario past you to try to calm you down just a bit and then I want to talk about the current market and then take some questions because I don't have a lot of time to talk. I could sit up here and talk for five hours straight about stuff. But basically, you know, when you look at the market right now, okay, is anybody, okay, y'all are going to lie to me. So let's just be honest with each other, right? This is the nest, right? This is the happy, this is safe. How many people are actually kind of like worried about the market? Okay, good. Good, good, there's some people worried, great. And there's other people too, I know. But think about this. John and Jason. If the market went down 50% price-wise, okay, because that's what it did in 2008, right? I'm sure no one here thinks that the market's going to crash harder than 2008, except for Patrick Beck David. Right? I still don't even believe that he actually believed that. And I wonder what he thinks now. But if the market crashed harder than 2008, okay, think about that scenario. Prices go down 50%, okay? Now what you have to think of is, oh, if the market worst case scenario happens, how do I crush it during the worst possible outcome of the market? Well, let's think about it for a second. If it goes down 50%, how easy is it going to be to sell properties at half price? Number one, that's just off the top. That's just off the top of my head. Let's go a little deeper though. What about investors that own properties? Well, they're not selling them. They're making rental money. What are they going to do? Buy more, right? What about sellers? Well, most sellers aren't going to sell if they're going to sell for half price. They're just going to continue living there. So they don't care. They're just going to write it out so the prices come back up, right? Right. If they want to upgrade, they're going to buy a house for half off. They may have to sell theirs for half off, but they're getting what they want for half off. Like, there's not a sector in the market that doesn't benefit from the worst-case scenario.  Right now, we're down what? 10%, 15% price-wise from the peak? We still ended up up on the year by the end of the year. It's like 1% or something nationally. Different markets are different. We're down from the peak, okay? But now where are we going? So just to finish off with the 2008 scenario, I got back in the business in 2008 speaking of 2008 and let me tell you something that was an amazing time to be a real estate agent. It was so easy to sell properties for half price. It was way easier than now and these buyers were ecstatic relationships. They're my fam now. Now they're going to, as the market rebounds they sell it for twice as much upgrade to something else, refer eight people to me. It's literally how it became number one in my market. Because all the foreclosure agents that didn't answer the phone I said, okay, I can play that game. I'll just go represent the buyers on your deals and when the foreclosures go away you'll go away but I'll still have the properties as my clients. I'll resell them and get referrals and I'll beat you in six years. That's how I thought. I'll beat you in six years based on what I'm doing now. That's how you guys have to think. So when you understand the philosophy that the market doesn't matter like it has zero to do with your success, your success is not predicated on anything that the market does. That's the surface level of this. That's going to get you to an average success. And now you build your business and think, nothing matters. I'm from Alabama so I can say nothing matters. But when you think of Alabama, right, what's the image you have in your mind? Like like mud you think mud you think like like water boy I'm down there like mama said alligators matter because I got all them teeth and no toothbrush. But the point is that I'm in Alabama, nothing matters. That gets you to that average success. If you want to go to the top though, this will get you to $200,000 but if you want to get to the million, if you want to get to the place where you're number one in your MLS, then you take a solid foundation that nothing can take you down. No market shift can take you down. You realize the cycles, you know what's going to happen. To take it to the next level is okay now you've got to pay attention to the market and think about okay what's the most certain outcome that could happen in the market and let me game plan around that most certain outcome and I'll put all my chips on that certain outcome and if it hits then I'll hit big. But if it doesn't hit I win anyway because nothing matters. And that's where you can start taking on your time towards building a business to take advantage of what the most certain outcome of the market is. You with me? Can I get a water boy? Okay. So you got me. Most certain outcome all chips in it doesn't matter anyway let's go. Alright let's talk about the most certain outcome in the current market. Where do I begin? So inflation. Okay. Does anybody here feel like inflation is going up right now? Yeah, y'all feel like it's going up? It's been coming down since June. Not in New York. Yeah, well it but if you look at a chart in actual facts coming down I spent half the money to come here that I would have spent just three months ago. I just went to Vegas. I spent 3500 for just plane tickets in October and I spent 2200 this trip last week. I spent 1700 to go to Orlando and I just bought tickets for 900. That's inflation. That's supply and demand. The fed rate coming up has helped consumers because now we're getting stuff cheaper. I know you guys may not be feeling it because it is local you know I need to dig more into what you're talking about here. The what? We call them and we we create our own eggs like I don't know about eggs I got my own eggs nevertheless guys let me ask you this you think by the end of the year inflation is going to be higher or lower? Okay, there we go. I got somewhere with you. The 30 year fixed the 30 year fixed is tied to inflation. Not the fed rate. It is tied to credit cards, auto loans helots. Mortgage rates are tied to inflation which is tied to the 10 year treasury. Those are all correlated very closely if you look at a chart through history incredibly correlated. So if we all agree and every guru in the world does and inflation is coming down what does that mean for mortgage rates? Coming down. They've already come down quite a bit right? They were from 7.2 to now they're 6 basically. They'll continue to come down as we get more data around inflation that is coming down and the 10 year treasury has come down. It's all going to come down. And that's what's causing this spike in buyer activity that you guys say that you're getting. Last year we had 28% increase week over week for mortgage applications. I've been putting out so much content for the past 6 months about all of this happening and the keyboard warriors are saying well if it's so great then why are we at a 12 year low for mortgage applications? I'm like bro this happens in stages man you're not going to get like more people looking online showings of mortgage applications pending deals and closings in one day this is a process people are becoming more comfortable with this situation and we're seeing it. So we feel like mortgage rates are going to come down we all kind of agree there because we feel like inflation is going to come down. Now very interesting fact every single year inventory to the moon and straight down if you look at a chart I have a chart I was denied on slides if you look at a chart of inventory every year it's like a straight up line inventory straight down straight down plummeting up down up down up down up down every single year. 2021 the year of the boom it was crazy inventory went up at the same time of year it always does straight up nobody's talking about that then it came down now it's come up and all the media says inventory through the roof but now it's dropping since August has been dropping and we're in that time of the year where it plummets and guess what we're not even half of where we were pre-pandemic and it's going to go down lower yeah every year you can look at redfin data you can look at every different entity that collects data on this MBS everybody and you'll see that inventory drops all the way through February every year and then starts rising back up it'll rise back up and then it'll go back down it's going to happen if history has anything to do with it remember what's most certain going to happen we don't know what's going to happen interest rates could shoot to the moon inflation could shoot to the moon prices could go down we don't know what's going to happen but we know this none of that matters because closing is happening every day so we have that backup plan that the market's never going to go anywhere we're always going to succeed we're going to be in the sector of the way we think the market's going to go so we can explode with it or are we just going to keep playing the surplus level game and just stay right here and stay safe the thing is when you go for it you win either way even if it doesn't work out so if inventory is coming down if interest rates are coming down we're already seeing an uptick in buyer activity we're already seeing it heat back up what do you think is going to happen another key data point formations of families which means basically people coming into their 30s right formations of families is approaching all time highs and it will continue to grow every year based on the birth rates in the 1980s it's just simple math and so the formation of families that's not people that want houses that's people that need houses this is like real demand this isn't like somebody wants to upgrade because they're tired of the layout these are real people that need houses alright so builders are down 30-40% right nationally we've got inventory dropping anyway we've got interest rates dropping going to continue to drop slower and slower buyers are already coming out it's not going to happen until spring but it's already starting to happen why? because all this demand has been building since March when everybody took a step back this is all happening right in front of us and so the way that this market is going over the next for the rest of this year now it's only going to get busier and busier and busier and we're going to have less and less to sell and all the buyers the majority of the buyers like it's heating up now it's going to get worse and guess what inventory is going to be lower and now everybody is going to be fighting over the same house that's what I see happening that's what I see happening in the market so if that's what we feel like just based on the data and based on history we feel like it will certainly happen then let's go all in and prepare for that to happen right but then what what normally happens the inventory comes up and then what comes down it's going to come down again right and where are interest rates going to be where are where's all the data points going to be at that time and so this is something you watch if you're going to be like the highest of producers and you say okay I see the little opportunity right here in the market I'm going to take advantage of this I'm going to exploit this and that's how you become the top agent in your market and I never really paid attention honestly because I was so busy just trying to build my business and so that's another testament right there for you that if you go all in on people and try to create five new relationships a day with property owners in your market create those great first impressions where they really feel like you care about them and follow that up with a weekly email this is what you guys all should be doing right here just to make it real simple for you make calls all morning social media all afternoon and do a weekly email and you're done absolutely done now who do you call whoever you want to call I don't want to cold call it's too cold I need to have the reassurance that they know at least know who I might be okay the thing is all lead generation activities it's the same thing every single one of them are geared to collect data you collect their data and then you talk to them on the phone every single lead gen activity debating if I should ask you guys I'm going to do it for fun does anybody know a lead gen activity that the purpose of it isn't just to collect data and call them on the phone anybody come on please yes yes yes you're going to go meet them shake their hand get their business card and then how are you going to follow up and then just hope they call you that does work by the way that does work but I can't wait on people to call me and initiate I have to be the most successful right now I'm not going to wait on something to happen I got to go make something happen that's good though it does work I saw two hands collect data for you then to call them that doesn't collect data for you then what's up when they call you you've got their data and you're talking to them on the phone now right back to having a conversation you've got their data talking to them on the phone correct I'm going to get to Q&A in a second I just want to take one more somebody has it that doesn't involve collecting data and talking to them on the phone yeah that's collecting data and then calling them same thing when you're volunteering you're seeing they're hoping that people are signing in or you're collecting some kind of data so they can follow up with them later right it's everything how are you doing business volunteering how do they call you what are you doing how do you go from there to somebody one more well that's why I'm trying to find something because here's the thing guys if I can find something different then I'm going to start talking about that but every single lead gen activity is designed to collect data talk to them on the phone well Zillow calls me with the buyer on the line you're talking to them on the phone we're right back to the same stuff and so the name of the game guys communication skills can you take anybody at any given time and have a conversation with them and they feel like wow this person feels like family that's the name of the game and when you get to that level you don't care who you're talking to then you're like how can I be the most efficient oh well there's a million people here I can't talk to all of them I need to talk to the most efficient people who is that the property you want to sell let me just talk to as many of those people as possible and create as many friendships as I possibly can yeah and you're going to put them in a database I'm sure right data and then you can send stuff to them like the whole advertised hoping they call is great that's what I do with the weekly email like I'm hoping my database calls me that's awesome but I'm not in the beginning at the end of your career you can live off that you've got to be initiating conversation after conversation after conversation or nothing's going to happen maybe you have a team and maybe you've hired somebody to make those calls for you awesome I don't care somebody's having conversations a couple quick little tips and then I want to take some questions since you guys are in the mood at the end of every prospecting call you guys have right now you know you have your call you're talking to them whatever it is if they want to do something great go there if it's more of a relationship building conversation we'll do something later we'll call you here's my info all that say hey before you go let me ask you this if I had a great deal on a rental property would you be interested just see what they say if they're like oh yeah what you got well I got stuff all the time what kind of properties are you interested in single family duplex multi family commercial what do you like and now get all the criteria and put them in your investor database make a list of investors these people that own these properties you guys are calling they're investors too and if you can ask that question at the very end you've got somebody else on your investor list and now you can build that list up and guess what go find them some investment properties we all need to be building our investor list up while we're selling residential I don't know what you guys sell commercial residential condos why not since you're there anyway and the and the the relationship is kind of dying for now see if you can revive it we'll see if they might be interested in a great rental property and if you had a bad conversation right it's like or this is this would be a good one if somebody is like well who is this and I don't like you and you're an one of magents it's like sir listen I'm just calling to see if you like rental properties I got I might have some good ones for you it's like wait a minute I'm trying to bring you value over here and by the way I'm not trying to get you to sell your house David right so that that's one thing I think maybe a few of you might use that that might be something useful but at the end of the day I want to cover one of three things and I'll let you guys aside and then take questions calls social media or weekly email okay calls raise your hand social media raise your hand um weekly email okay calls win alright I'm just going to cover it for like two seconds and then take some questions I don't care where you get your leads from right zero to diamond is not a cold calling program it's a communication program I don't care where you get your leads from I just want you to understand how you need to communicate with your prospects what to do with them after help you create a process to take them from prospect to closing whether it be next month or five or ten years down the road it doesn't matter so the first thing to understand about calls is that when you're talking to a prospect you shouldn't care if they want to buy or sell or not that's rule number one I'm going to get you so far because it's almost like it helps you communicate better too because there's no pressure because a lot of us when we got in the business we got in the business because we want to help people and then we listen to our coaches and our trainers and we get these scripts that's trying to get us to high pressure people into doing stuff and we're like man this is really just crazy this is wild I feel weird I feel awkward these people are hanging up on me and all this stuff and so we all go through that stage where we're just trying to close close close and then hopefully you saw a video of mine or somebody who's preaching this side of it because I wish somebody would have told me this from day one like you don't care if they buy or sell connect with them figure out what it is they want to do and then put together a game plan to help them do it that's how you build a career because those people are going to come back to you those people to you right? does everybody know my scripts? okay I don't have to go through that zero to diamond.com all free you got it I'm going to leave it with that because at the end of the day like if you can wrap your head around the mentality of how you need to think when communicating to people here's an exercise next time you're talking to your mom, dad, brother best friend from high school you know you're an agent in the office that you feel real comfortable with take a second when you're in the middle of that conversation and just subconsciously as they're talking think about how comfortable you are in that conversation how comfortable they are how relaxed you are your shoulders you're not nervous the tone of your voice how fast you're talking you know everything from A to Z and take a mental snapshot of that moment of those emotions and think that's what Ricky's talking about because if you can emulate that exact feeling when you're talking to your prospects you're ancient closer and closer to mastery of being able to communicate because when you're talking to your mom or dad that's mastery communication you feel like you can tell them anything they are listening you feel comfortable if you can get to that level with like prospects you don't know you have made it ladies and gentlemen if I haven't met you before it was nice to meet you I wish you guys nothing but the best in 2023 let me know what I can do to help you and much love thank you guys if you guys have any questions


well the podcast is over the day is over you know what's not over it had a switch pro news real news were not like joking with you this isn't some uh... emily roger stuff this isn't some samus hunter stuff uh... bloomberg dropping the deeds so i'm going to start on bloomberg just posted in the middle of the night by takahashi matcha zuki and betting against them has always been a big no no in the industry the title of this says nintendo plans upgraded switch replacement as soon as september let's go over this article it's behind a paywall i do have a pay to go to bloomberg specifically for switch produce let's get into it says nintendo company plans to begin assembly of its new switch as soon as july and release the upgraded replacement for its four-year game console in september or october people familiar with the matter said the new console likely to be priced higher than the two ninety nine original may be announced ahead of the e three conference starting june twelve to allow publishers to showcase their full range of switch games at the global event the people said asking not to be named because the plans are not yet public it will it will be sell sold alongside the one ninety nine switch with the standard switch phase out over time assemblers will start shipping the new model whose commercial name is known only to a handful of people within the coyote base company as early as july and production is planned to ramp up to a peak in october slash december quarter this is despite widespread semiconductor shortages that affected supply of everything from automobiles the tv's have both in game consoles including the switch itself nintendo spokesperson declined a comment nintendo is has to compete for gamers that said oh god i'm so high how will a new console generation introduced by rivals sony corp and microsoft corp in november their playstation five next by series x machines beef up visual fidelity speed and performance of their predecessors uh... and both have been an extremely limited supply since launch the switch makers response will be up to upgrade its flagship console with a seven inch samsung display company all ed display and faster invidia corporation graphics silicone making it capable of four k output when doctor tv bloomberg news is previously reported uh... pricier components and rising labor costs in china are likely to push the new switches price up from two ninety nine at the console has been at since its launch in march of twenty seventeen though the final retail price is not yet known suppliers expect their per unit revenue from business within the tender to increase nintendo shares rose for six straight days ahead of thursday bringing it closer to an all-time high on apparent expectations of imminent announcement of new hardware suppliers are confident they can fulfill nintendo's orders despite the ongoing chip shortages is production lines are better prepared for the potential component shake-up and the parts nintendo is using are subject to less competition and those in its rivals were powerful consoles still the company's ability to meet consumer demand will be guaranteed as a dearth of display driver i c's in bluetooth chips have led to production of the incumbent switch stopping and starting several times the people said nintendo's presidential chair for a call with said at its earnings press conference earlier this month that demand for the switch remains high and the company won't be able to produce as many units as it wants holy crap can we just what did he just what kind of bomb that he just dropped switch-pro announcement be for three saying he's saying they might not talk about let alone at e three let alone at e three nintendo's going to announce a switch pro before e three before it's going to come out in september or october are you kidding me guys i usually don't get this excited uh... but new hardware is an exciting thing is it not new hardware for the nintendo switch is about to drop the bomb is about to be dropped on us all guys if you are a switch pro doubter if you are a doubter guess what two weeks we have two weeks and at least at e three we're going to hear about the nintendo switch pro i've been saying for months now we're not going to hear about the switch pro at e three let's just presume that's not something they're going to talk about because they're not going to release it this summer i'm sorry september october takahashi machinzuki locking it down he's saying his sources say september october very strange with production wrapped up in july but the plan is to phase out the og switch this way you see the switch right here we're giving away i don't know if you can see it might be just off camera we're giving away an animal crossing switch during e three and guess what that switch it's going to get phased out it's going to be replaced with a switch pro pricier uh... i'm thinking at pricier if they're going to phase out the old one i'm thinking the launch price at three forty nine three forty nine ninety nine i previously talked about four hundred dollars but oh my gosh you guys know this is huge news my heart beats racing man it's past midnight my time my heart beats racing really really quickly we got some big news here switch pro baby switch pro oh my gosh takahashi machinzuki link to the article down below if you would like to read it for yourself obviously i you might not be able to because it requires a paid subscription but i already have one so read it off to you guys enjoy the news what a great way to end or begin our day uh... you guys know how plenty of switch pro stuff to talk about later today but i needed to break this breaking report to you right now switch pro launching in september or october to be announced before e three or bare minimum at e three so all the publishers making games get it out there four k all that display seven inches you know that's what she said let's freaking go all right folks i gotta get going i gotta edit this video get it out tonight for you thank you guys so much for tuning in i greatly appreciate all of your guys support kind of a short video because we have breaking news got to get this breaking news out as soon as possible catch you guys in the next video


So when I first got started in dropship in back in 2016 now, then everything was completely brand new to me. I had never ran a Facebook ad before, had never built a Shopify store before, had never sold anything online before. And one of the things that really helped me out and kind of see results pretty quickly was to look at successful Shopify stores, look at what they were doing. At least then I knew I was learning from the right people. So when I was looking at the Facebook ad creatives they were running, I knew that it was a successful Facebook ad creative and therefore I should try and replicate it or implement the same kind of strategies into my own business. I would look at what products they're selling and sell the same products. I would look at the design and layout of their Shopify stores, what color schemes, what fonts, what kind of strategy they were using in their product descriptions, that sort of thing. And by doing that it allowed me to find my very first warning products pretty quickly and make some significant money and be able to do this full time ever since. So that's exactly what I want to do in this video. Back then I used to use a tool called Exchange Marketplace which basically where people went to sell their Shopify stores. So you could see exactly how much money they'd made, what the best selling products were, all that sort of thing. However, Exchange Marketplace is shut down now so instead I use a website called Flipper. So if we jump into my computer we'll take a look at my screen now. This is essentially what a store listing on Flipper looks like. Once you've created an account you can see a bit more information about a particular Shopify store. The one I want to show you in this video is called the Perfect Poor Store. This one is indeed a verified listing as it says here. So all the sales numbers you see from Shopify, PayPal, etc are all legit basically. And if you haven't seen it already the monthly profit for this business is almost 20,000 US dollars and the age is only two years. So not bad for a business that's only been going for about two years. They've also uploaded some sales figures as well. All these are all from 2022 so the products you're about to see is a trial and tested extremely proven product that is working right now. In the month of August we can see they made 275,000 US dollars which is not bad at all. That's at a conversion rate of 4.52. I sell in the dog niche as well and I can confirm that 4.5%. I've converted as high as 7% in some months especially coming up to Christmas. So I can confirm that 4.52 is definitely achievable. If we take a look at the next one, this is from 1st of June to the 20th of October. I'm not sure how many months that is. It's one, two, three, five months. They've hit over a million dollars. This is all selling one particular product as well which I'm about to show you. So if you still haven't started your business yet and you're looking for somebody to learn from, something to mirror your business from and what a seven-figure proven product looks like, make sure you stay tuned because I'm going to be showing you all of that good stuff. I'll also be showing you the Facebook ad creatives for this product as well. So essentially you'll have all of the inner workings and makeup of what a seven-figure business looks like. Some key highlights for this business then. It's two years old which we've seen already. It's earning $200,000 per month and they're currently operating with a profit margin of about 18%. 18% is definitely reasonable. You see some people out there say they run drop shipping businesses at 50-60%. I've never been able to do that personally. You might be able to, you never know. However, in and around 20% is about average for drop shipping. In the month of October they generated nearly a quarter of a million dollars. It's November as I record this. So like I mentioned earlier, it's current and working right now this particular product. And if we take a look at their primary expenses, we can see they're spending every single month nearly six figures alone on Facebook ads.  Nearly 20 grand on TikTok ads, 10 grand on Google ads and then the product cost, product fulfillment $65,000. I'm going to do a video on this shortly but I'm hoping these guys are using a credit card to pay for this and then pay it back each and every month because spending this sort of cash on a credit card and being able to pay it back in full, every single month or two they'll be able to get free first-class flights to pretty much anywhere in the world with this sort of spend. So enough said, let's jump into the Shopify store and see exactly what this seven figure business looks like. This is their homepage. As we can see, very straightforward, very traditional setup and look for Shopify store. This is their homepage in fact. It's just an image and straight into their footer. Just goes to show you don't have to do everything perfect. You only have to get the product right and the actual product page as well. And if you haven't guessed already, this is the product. It is the personalized no pool dog harness. This is a proven tried and tested product for many years. Now for anyone watching this video who says this product is saturated and you can't make money in it, that's complete nonsense. These guys made nearly quarter of a million quid last month plus the dog niche is one of the most evergreen niches. Every single year there's hundreds of thousands of new people who adopt dogs and therefore have a requirement for products like this. So in my opinion, it's almost impossible for a dog product to become saturated because there's always new people adopting dogs. To point out some of my favorite features of this product page then is the different imagery for the different variants. This is the strategy I adopted in all of my stores and it makes a night and day difference to the amount of people who convert. Definitely get this on your Shopify store and see the difference for yourself. They have a really spot on size chart. You may have heard me mention this in a previous video.  What they want is to think, I have a Jack Russell, whereas Jack Russell, it's on size small. That's what I'm going to order there and then. It makes it so much quicker, so much easier and it's going to translate into so much higher conversion rate and I can guarantee that. As we move down the product page description, it's very typical and kind of traditional layout. They have a nice gift here, which is perfect. They have the key points in bold that they want to draw attention to. They have testimonials of showing the actual picture of the person and where they're from, so this is Karen in Manchester. They have little touches like this so everything is using this kind of green colour and rather than just use a circle or like a dot as the bullet point, they're using a emoji of a paw print, which is just a nice little touch. Something I've noticed this store does quite a lot as well is they repeat the information quite a lot, which is interesting to see. I'm not sure why this could be. Maybe they've split tested this over many months and just found this is what works for them. What they also do in fact is this. So I have started using this on all of my stores, having your products versus everybody else's. It makes you come across as the original seller. Gives kind of like lots of different reasons why somebody would buy your product versus somebody else's. So it gives them an excuse not to have to go elsewhere because you're telling people that yours is strong and firm in comparison to others. Yours has thick, premium material. Yours is durable, sturdy fabric. They have tons and tons of different information. This is the third time they have the size chart integrated. Lots of different products of lots of different dogs wearing the product. And there are more images about the product than are recommended with the customer reviews at the bottom here. So all in all, a very kind of easy to replicate product description if I may say so myself. But it just goes to show if you have a great creative with a great product, you can be very successful. Before we take a look at the creatives then, I'm just going to take a quick minute to show you this supplier on AliExpress. There's loads of different suppliers, so just find one that suits the country you want to ship yours to. This is a top brand, 97% positive. Established since 2018, which is a long time for an AliExpress supplier. We have detailed seller ratings of 4.8 or above, so above average. And as you can see, the exact same product. They also have some content here which you could use on your Shopify store if you wanted to. Let's take a look at the Facebook ad library then just to show that these guys are still making money and it is still working. Just look at how many ad creatives they have ran for Cyber Monday. So it's Cyber Monday today as I record this video. This video is going to go out on Wednesday. New videos every single Monday, Wednesday, and Friday, by the way. So if you want to see more of my content, please make sure you hit that subscribe button. Anyway, look at all the different creatives I've used for Cyber Monday alone. These guys know exactly what they're doing when it comes to Facebook ads, which is split testing creative after creative to see what works. And once they've found what works, what they'll probably do is switch off all the kind of lesser performing ones and double down their budgets on the best ones. Same thing for Black Friday as well. So all this top line is Black Friday. All of this line is Black Friday. All of this line up to this point is Black Friday. These guys love split testing different creatives to see what works for them so they can then double down on exactly that. Let's take a look at one of their video creatives though because these are going to be the more consistent ones which they went throughout the year. Straight away, the thumbnail is of the products being featured on a cute dog which is naturally going to capture attention. And then what they have is this voiceover. It's like a TikTok style voiceover and what they're going to show next, I'm assuming. Oh, they have this nice kind of feature scientific way of demonstrating exactly how the products works. Then they're showing completely different dog, by the way, not pulling on this harness. So it's a completely different product if we look from the beginning to the dog that's pulling, to the one that's not pulling. So how effective the actual product is, I'm not sure. But it just goes to show with a nice creative featuring some cute dogs that are going to capture attention. What this product also has is these different stickers, they're not stickers, Velcro straps which you can interchange on the side which are becoming more and more popular. More and more people won't necessarily use things like this but I think people use it for this. So like Nervous Dog or they'll put like Do Not Pet or Anxiety Dog or Service Dog, something like that. So people know exactly how to approach the dog, what sort of dog it is.  And so with that being said, guys, I'm going to wrap the video up there because I've shown you all of the information, everything behind this business that you need to go out there and create something similar for yourself. Just want to stress, do not copy and paste this store. Do not steal their content. Make sure you be unique and put your own spin on it. If you want to be successful at this and build something that's sustainable, I'm going to make you as much money as these guys, but in the long run, then you have to be original and put your own spin on things and build your own brand. If you want some help getting started the right way as fast as possible, make sure you check out my Zero to Launch Training. It's the top link in the video description down below. You'll also get a copy, a free copy of my 194 profitable product ideas. So make sure you check that out if you want some help getting your business launched in the next couple of weeks. Make sure you subscribe if you enjoy my content and want to see new videos every single Monday, Wednesday and Friday. And of course, if you enjoy this content and want to see more like this, make sure you hit that like button because I know know what videos you guys enjoy and I can produce more content like that. Thanks for watching and I'll see you in the next one.


So it's gonna be wow that type just no, it's a little tight, but that's it Maybe one more loose one more. Yeah Right under there Very nicely done Oh Yeah, definitely that's what that's the size I was looking for Perfect This won't show heart rate monitoring. I take it this won't show heart rate monitoring Real Great sport do you feel healthier already Steve? I'm feeling it and you look strong as I'm running There you go. I'm burning calories. You don't want to use mine.  Oh, yeah It's so thin and like it doesn't right. All right, Steve you hold this okay tear this let me tear this up All right Okay Allison trying on her 38 millimeter white sport The only thing I was wondering was whether I should be bold and go for the lime green, you know When I broke my hand, I got a lime green cast and it so someone wants to know if you can listen to podcast Yes music, but can you listen to podcast? Because they separated music and podcast oh and feeling something. Oh, there it is. Oh, that's wow What did it just do that's not like I was going through my wrist on what it's just a tactic feedback. Yeah That was cool. This is actually kind of big on me with the is that the smallest There it goes I tightened it up one because it was it was kind of bulgy but now it's kind of snug I ordered the Milanese band to wear the Milanese band. Yeah, in addition, you're gonna like that. I hope so You're gonna lock in the dog and the Milanese for dress-up day, right? How do I look Steve looking good people are asking questions, but I can't get to the keyboard Yes, yeah, one may have been cancelled, but we don't know okay Technically we made three, but we got rid of the one that was at a different time. So all right That is now he said we could play with that one. Yeah. Yeah, good good. Okay, so let's not we don't have a lot of time Play with the Milanese He's not gonna confirm or deny what's your name Zach Zach. Thank you Zach So you can take out two at a time take a look get that get this on So you can take out two of one Yeah, we'll be trying the steel model next is not on a demo loop notice how they open I want to see Milanese Luke Maybe can you hold it up against that one? Just so I can see the shoulder Just because that's a watch about what I want to see is not a good set. Oh, yeah, that'll work. That'll work Yeah No, I'm not gonna get that Thank you Here why not Are you doing it? How do you like that way when you eat a little too much turkey just losing that bad boy up a little bit This will not pull your hair That's what I've been I've been told That's how you do it again Allison Too tight just right You can adjust it to however you want I wonder I might end up wearing that fan more than the Yeah, she works I had to get it started all I see is your knuckles All right We have a black that's basically great All right, are you dead? But this is this is pretty heavy. I like the light one better. I like the aluminum better Yeah, you can't feel it. It does shake. It shakes a little more There's a button on the back that you push to release I'll show you on an easier band, okay, because that one doesn't fall all the way out This one doesn't fall all the way out. Do you see that button right there? Yep, so you hold that and slide. Okay, so maybe we can see it on the white one So I think the way you do that is it sort of catches there naturally And then you just slide your wrist off that way you're not feeding it through all the time, right? It doesn't come all the way out It won't come all the way out. Oh, okay. It does tend to grab itself pretty easily, though Oh, yeah mess around shoving it back through I can see that We're getting questions do you have the addition we do not carry it in store now, they don't have the addition here So we're gonna see the band come off and all of the band coming off am I allowed to do it That's it Let me look at the It is That's something we haven't seen that shot. Oh Wait a minute, so this could make some Interesting everybody's wondering about third-party bands whether that's gonna be some sort of Or just the magnet While you're pushing it, yeah So does it lock mechanically or Not non-trivial third-party This feels really really good Just feels nice. Yeah, I like the I like the aluminum better. I'm lucky. I've cheap taste You know, I would get that gold, but it's way too heavy Thank you very much


Paul as an apostle writes young Timothy who is leading a church and is way in over his head. He gives him instruction on where he failed early in his ministry and advice on how Timothy can succeed with the church that he's been entrusted. He tells him to always remember the love of Christ and to care for the weak and those that cannot stand up for themselves.