A friend of mine launched a successful BBQ restaurant in Minnesota last year. He has always been entrepreneurially minded, and enjoys entrenching himself in the community by gabbing with the locals every day. He also understands how lucrative life can be if you are the skilled operator of a small business, as the sales gains accrue to you personally in a way that salaried employees never benefit. Although, perhaps most importantly, he also understands that paying $0.85 for pitchers of beer that are sold for $6 can add a cool $2,575 to your monthly income when you go through 500 orders per month.
He mentioned to me that he built up almost a $45,000 in excess cash that had accrued in his sole member LLC’s account since the start of August, and that he was planning on making an investment in something that could be turned into a passive income … Read the rest of this article!