Become an Internet Business Mogul

By Laurent Truc

Since the dawn of the internet, entrepreneurs have found ways to make money online. Today, millions of revenue-producing websites generate real and significant profits for their owners.

What if there was a guide that could help you acquire these valuable assets and create real long-term wealth for you and your family?
In BECOME AN INTERNET BUSINESS MOGUL, business acquisition consultant Laurent Truc explains how to buy profitable online businesses and architect a diversified growth portfolio through his 4-step process:

Acquisition – Growth – Automation - Portfolio Management

In this book, you’ll learn how to:
-diversify your portfolio beyond the financial markets and real estate,
-benefit from owning online businesses and generate consistent, repeatable income,
-acquire successful growing online assets at bargain prices,
-execute growth strategies to drive immediate returns,
-implement technical and human-automation to free up your time,
-develop a growth portfolio that accelerates revenue creation,
-maximize profits when selling your internet assets,
-and much more.

This book gives you the blueprint to make real money while creating the lifestyle you desire. Soon, you too can reach INTERNET BUSINESS MOGUL status!

ABOUT THE AUTHOR:

Laurent Truc is the founder of MadX Capital Inc, a Toronto based Online Business Brokerage who specializes in growing and supporting a community of investors and entrepreneurs looking to acquire online assets.

Laurent has worked in corporate for most of his life in fields of Consulting, Telecommunications, and Sales Management. After years of dealing with the corporate grind, commuting long hours and tolerating stressful business travel, he felt there had to be a better way to make a living.

In his search for financial freedom on his terms, and while seeking a way to protect his existing assets from today’s economic turmoil, he discovered the world of online business investing and hasn’t looked back since.

• Language: English
• Publisher: Laurent Truc
• Release date: Jan 6, 2020
• ISBN: 9781777041809

Laurent Truc

Laurent Truc is the founder of MadX Capital Inc, a Toronto based Online Business Brokerage who specializes in growing and supporting a community of investors and entrepreneurs looking to acquire online assets. Laurent has worked in corporate for most of his life in fields of Consulting, Telecommunications, and Sales Management. After years of dealing with the corporate grind, commuting long hours and tolerating stressful business travel, he felt there had to be a better way to make a living. In his search for financial freedom on his terms, and while seeking a way to protect his existing assets from today’s economic turmoil, he discovered the world of online business investing and hasn’t looked back since. Laurent lives in Toronto with his wife Delia, his 2 kids, Xavier and Madeleine and their chocolate lab, Jersey.

Book preview

Laurent Truc

Become An Internet

Business Mogul

Create Income and Wealth Through the Acquisition and Management of Online Assets

Smashwords 2019

Become an Internet Business Mogul.

Copyright © 2019 by Laurent Truc.

All rights reserved. No part of this book may be reproduced in any form or by any electronic or mechanical means including information storage and retrieval systems, without permission in writing from the author. The only exception is by a reviewer, who may quote short excerpts in a review.

This book is a work of fiction. Names, characters, places, and incidents either are products of the author’s imagination or are used fictitiously. Any resemblance to actual persons, living or dead, events, or locales is entirely coincidental.

Author: Laurent Truc

Printed in Canada and the United States of America

First Printing: January 2020

MadX Capital Inc

www.MadXCapital.com

This book is dedicated to my incredibly patient and supportive wife Delia and my amazing kids, Madeleine and Xavier who push me every day to lead by example and change lives.

Table of Contents

Introduction

The Rules of Life

My Story

Who Is This Book For?

Structure of this Book

Let’s Get Started…

Chapter 1: Build a Balanced Income Producing Portfolio: Buying Online Assets

The Balanced Income Producing Portfolio

Business Ownership as an Investment

How Do We Invest in Online Businesses?

Buy not Build

The Online Business Mogul

Monetization Methods of Internet Business

Business Valuations

Summary of Chapter 1

Chapter 2: Acquire the Right Online Businesses

Find the right business for you

Use a Buyer Broker

Process for Buying a Business

Due Diligence

Beware of Scams

Close the Deal / Accept Assets

Summary Chapter 2

Chapter 3: Growing Your Business to Generate Dramatic Profits

Reducing Costs vs Increasing Revenue

Additional Streams of Income

Acquisition

Summary of Chapter 3

Chapter 4: Automating Processes to Free Up Your Time

Technical Automation vs Outsourcing

Finding Opportunities to Automate

Missile Approach Warning System & KPIs

Accepting Automation Over Profit

Summary of Chapter 4

Chapter 5: Selling an Online Business for Massive Profits

Know your Potential Buyers

Consider Your Competition

Consider Your Timing

What Buyers Value

Find a Seller Broker

Selling the Business

Summary of Chapter 5

Chapter 6: Reaching Mogul Status through Portfolio Management

Benefits of Creating a Portfolio

Portfolio Creation and Management

Creating a Hyper-Growth Engine

Diversify First then Double Down

Summary of Chapter 6

It’s Time for Action

What We Covered

Take massive aggressive action

Your Turn to be an Internet Mogul

About the Author

Bibliography

Introduction

I wanted to start off by congratulating you on deciding to purchase this book. This is an important first step in understanding the possibilities that exist in building real wealth through investing in online businesses.

I also wanted to thank you. There is only a certain amount of time in our day and we are always deciding where to place our attention. Everything has an opportunity cost. So I appreciate that you’ve decided to spend your valuable time reading this book to help you create a new life for yourself. A life on your terms. I will not take your attention for granted.

I’ve tried to write this book with no fluff, distractions, or time-wasters. My goal is to get right to the point, bring insight and value, and provide direction on how to execute. The stories and anecdotes that I do provide are to help with context and explanation, not to fill pages of a book.

I will not talk down to you and blow the proverbial smoke up your ass. I won’t tell you that you can make millions of dollars overnight without doing any work. I won’t minimize the difficulty and risks involved in the various approaches that we will cover.

However…

…this book will give you the theory and system required to leverage online businesses as a method to create long-term wealth while reducing your current financial risk.

The Collins English Dictionary defines the word Mogul as an important, rich, and powerful businessman, especially one in the news, film, or television industry.[i]

William Randal Hearst, Joseph Pulitzer, Ted Turner, and Rupert Murdoch are some of the big names we reference when we speak of media moguls. They grew their empires by acquiring newspapers, tabloids, magazines, radio and television stations, and film production houses and constantly reinvesting their profits into purchasing the next lucrative asset.

What you hold in your hands is a blueprint on creating the new age of moguls, the Internet Business Mogul.

Success will be up to you.

You’ll need to take action. You’ll need to commit time, especially initially. You’ll need to leverage your skills, learn a few more, and outsource your gaps.

And, most importantly, you’ll need to persevere. Your first deal may not be a winner. Your first few deals may not get you the income you had hoped. You may get frustrated and want to throw in the towel. But I know many people who have made fortunes in this space; and it has never happened overnight. You must stick with it to be successful.

Over time, I hope you get as addicted to this industry as I am and have fun creating money-making machines that will help support you and your family for years to come.

Welcome to a new journey!

The Rules of Life

We were taught to do Life by the Rules.

You know the rules, the one that most of our parents, teachers and society preached growing up. Get good grades, go to school, land a high paying job, get that company pension (or save up in your 401K and RRSP) and retire at 65 to then start enjoying life.

I bought into it. I got high marks growing up, graduated from a good university with an Engineering degree. I worked for a few big-name companies, climbed the corporate latter in various roles until my most recent corporate job as Vice President of Sales.

I was making really good money and created a decent life for my family. I save up in my 401K and RRSP (I lived both in the US and Canada). I have some real estate investments, own my home, and am sitting on very little debt. On paper, things looked pretty good. I definitely considered myself very lucky and found that the rules worked for me.

But the reality is that these rules haven’t kept up with the times and they are not going to cut it for the next 20-50 years. Today’s challenges are quite different from what our parents had to deal with or could foresee 3 or 4 decades out. For example:

1.The U.S Bureau of Labor Statistics states that in 2018, 63% of families with kids under 18 had 2 working parents. In 1960, that number was only 25% meaning more expenses for daycare and more stress on families.[ii]

2.Today, company pensions are nearly non-existent. Employees are responsible for managing their own 401Ks or RRSPs, to ensure that we have a sufficient amount of money to retire.

Forbes wrote an article in March 2019[iii] that stated that 76% of Americans are concerned they won’t achieve a secure retirement. And BNN Bloomberg poll in February 2018 showed 32% of Canadians are nearing retirement without a single dollar in savings.[iv]

3. Many of us are living in the sandwich generations. That is, we are sandwiched between 2 sets of dependents: aging parents (dealing with rising private healthcare costs and increase expenses for retirement living and home care) and our own children.

According to the U.S. Department of Agriculture reported by USA Today[v], the average cost of raising a child today excluding college is $233,610! At the same time, the average costs of university tuition, fees, room and board continue to each year:[vi]

Figure 1: SOURCE: U.S. Department of Education, National Center for Education Statistics (2019). Digest of Education Statistics, 2017 (NCES 2018-070), Table 330.10[vii].

A recent Health Affairs study projected that by 2029, 54% of seniors will not have sufficient financial resources to pay for estimated $62,000/yr assisted living rent that these seniors will require.[viii]

4. Meanwhile the middle class is trying to keep up the Joneses only to pull themselves deeper and deeper into debt. Per Bloomberg’s article in March 2019, the countries with the highest household debt to GDP in the world are Canada at 100.2%, UK at 85.5% and US at 76.4%[ix]. How bad is it? Well a recent Ipsos study found that 49% of Canadians would be insolvent if their expenses increased as little as $200 per month.[x]

But hey, at least we’re all happy, right?

Well, not really. A study by the consulting firm Great Places to Work reported in Inc Magazine found only 40% of employees are happy at work.[xi]

These are major issues of our generation that the old rules really don’t address and haven’t prepared us for.

My Story

For the most part, the rules had worked out pretty well for me and my family.

At least, so it seemed. On paper, our balance sheet looked good. Our net worth grew each year and we were living comfortably. But when you live in routine, you rarely realize the smaller details that are chipping away at you.

My Workday Wasn’t Fulfilling

First of all, the day, like for most of us, started with a sole crushing commute in bumper-to-bumper traffic. I would try to make the best of it by listening podcasts and using it as a learning moment.

One day, I did the math and realized that I spent 25 days a year in the car commuting to work! And I started to think of all the things I could have done in that time. Let alone the fact that it’s not a fun 25 days. It’s stressful, frustrating, and, at times, dangerous.

I also wasn’t feeling inspired at work. After 13 years with the same company, things became routine. I wasn’t as committed to the business as I had always prided myself on being in the past. My customer’s problems became annoyances: rather than challenges that I was looking forward to solving. I wasn’t loving my space anymore; and it became a clock in, clock out, job for me.

It was a struggle to find time to work out and take care of oneself. I was quickly putting on the wrong type of weight and was in a mental fog for a big part of the day. Work kept encroaching on family time: whether dinner with the family or helping kids with their homework and being available for their activities.

Concern about The Future

When the crash (or great recession depending on who you speak to) of 2007-2008 happened, I was glued to the TV and social media. Although I had seen the dot-com bubble burst and the impact of that back in 2000/2001, I was in my early 20s and it had little financial impact on me.

During the 18 months of the 2008 Great Recession, S&P 500 had lost 50% of its value; it had cut retirement funds and people’s savings by half. And during that time the housing bubble burst reducing home values by 33%.[xii]

Living in Canada, where the impact was significantly less than in other parts of the world, was a certain benefit; however, I had many friends and family in the US that saw their net worth drop by half; and homes in their areas became abandoned. Their struggles provided a strong impression.

Imagine potentially having to retire 10 or more years later than initially expected to make up for your drop-in retirement savings. Or finding out that you owe more on your mortgage than the house itself is worth. Imagine seeing your kids' college tuition fund get cut in half just