Sunday, November 15, 2009

How to get rich
Nicholas Cage loses homes
Nation floating on green (cash)
Tools to create wealth


The media is all over Nicholas Cage losing his homes. He blames it on his business manager. People magazine reports, Cage has been selling off homes in New Orleans, Los Angeles, Las Vegas and Rhode Island to pay off a $6 million Federal debt.

Evidently the media is not well read. If you had read Jenna Jameson’s How to Make Love Like a Porn Star, you know she wrote about how Cage poured thousands of dollars down her G-string (why is it a G-string on a stripper and a thong on other women?) while she was a stripper in Las Vegas. Yet he blames his business partner.

You need to set goals to become wealthy. When setting goals, I tend to associate them with things – like how many guitars I could buy instead of replacing a transmission.

To me, wealth is those guys, like Cage, rich enough to go to strip clubs and sit with the same dancer doing lap dances for four hours. I’ve never – and probably never will – blown that much money in that manner. Let’s estimate $20 per dance at 20 dances per hour, if you estimate 3 minutes per song. That’s $1,600 in four hours. That rich guy’s probably sitting in that club doing that two or three times a week.

Then it dawned on me. That $1,600 is what it costs to fix a car transmission. The average transmission shop does about five transmissions per day. That’s $8,000 per day. The mechanic doing it gets about $200 for the job. That’s quite a profit for the transmission shop. There seems to be a transmission shop on every block, three in one block near me.

Think of the money floating out there; $8,000 per day per shop while paying mechanics only $1,000. A $7,000 profit? Subtract parts, and it is still around $3,000 per day per shop. That’s two guys sitting at a strip club for four hours daily. Think of when those strippers go out and spend that money. Stereotypical, but probably on a drug dealer. That drug dealer goes out and buys clothes, guns, food and an expensive car, creating jobs for car salesmen. See how the economy spreads dollars.

I know a guy who owns an auto body shop. His name actually IS Hollywood. He processes anywhere from five to 10 vehicles a day. The profit margin for auto body repair blows the roof off transmission repair. Yet there seems to be an auto body shop every half mile in any town.

Realizing all this, I’ve re-set my goals. No longer am I envious (well, I still am) of the guy, or Hollywood star like Cage, foolish enough to blow $1,600 on a G-string. I want to be as affluent as Hollywood! Set your goals. Don’t settle for a paycheck. Realize your dreams.

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