TLDR;
This webinar introduces a business project by the 1% Club, focusing on risk optimization for medium and large companies. It addresses economic challenges, unemployment, and the impact of technology on jobs, presenting partnership as a solution. The speaker outlines the selection criteria for potential partners, emphasizing mindset, education, understanding, and decision-making ability. The project aims to reduce distribution costs for companies, offering partners a profit share and a passive income stream that can be inherited.
- Economic challenges and technology advancements are causing job losses.
- Starting or partnering with a business are presented as solutions.
- The 1% Club offers a partnership program focused on risk optimization for companies.
- Selection criteria include mindset, education, understanding, and decision-making ability.
- The business model involves reducing distribution costs for companies, with partners earning a profit share.
Introduction and Welcome [0:05]
James welcomes the audience to the webinar, highlighting its focus on briefing business projects expected to be implemented. He introduces himself as James Simpson from Australia, with a background in various industries before becoming an entrepreneur and business consultant. He also introduces several Business Consultants and entrepreneurs from the 1% Club from various countries. He then introduces Mr. Nuwan, emphasizing his experience in building successful global businesses.
Webinar Overview and Economic Challenges [3:21]
Mr. Nuwan outlines the webinar's agenda, which includes discussing economic problems, available solutions, the 1% Club's business project, partnership opportunities, and selection criteria. He identifies key economic challenges such as economic slowdown, increasing debt burden, inflation, and geopolitical tensions, explaining how these issues affect businesses and lead to downsizing and unemployment. He frames these challenges as opportunities for entrepreneurs.
The Unemployment Gap and Technological Impact [6:33]
The discussion shifts to the growing gap between the increasing world population and the decreasing number of jobs, termed the "unemployment gap." The reasons for unemployment are identified as economic challenges and technology replacing jobs. Examples are provided, such as the replacement of postmen by communication apps, travel agents by online booking platforms, and bank tellers by ATMs and banking apps. The speaker notes that even professions like accounting, law, engineering, and medicine are at risk due to automation and AI.
Financial Literacy and Income Models [15:11]
The presentation transitions to financial literacy, explaining three ways people earn money: as employees, self-employed individuals, and business owners. The limitations of the employee (E) and self-employed (S) quadrants are discussed, focusing on the constraints of time and skills. The business owner (B) quadrant is presented as a path to passive income through leveraging systems and resources, using McDonald's as an example. The speaker contrasts the risk of business versus employment, arguing that jobs carry a double risk due to competition and potential business collapse.
Building, Buying, or Partnering with a System [27:14]
The speaker outlines three ways to become a big business owner: building a system, buying a system, or partnering with a system. Building a system requires high investment and knowledge, while buying a system (franchise) requires medium investment and knowledge. Partnering with a system, the approach of the 1% Club, requires minimal investment and high knowledge, which the system provides. The 1% Club seeks serious candidates for a lifelong partnership, emphasizing that partners don't invest in the system itself but in their own branding and online presence.
Business Project: Risk Optimization [33:16]
The 1% Club's business project is introduced as "risk optimization" for medium and large companies, including names like Nokia, Samsung and HP. This involves reducing the cost of their distribution process. The distribution process is explained using HP laptops as an example, detailing how costs accumulate from manufacturing to the end customer. The 1% Club aims to reduce these distribution costs, helping companies save money and reduce risk, in exchange for a profit share.
Selection Criteria and Conclusion [40:05]
The selection criteria for potential partners are detailed, focusing on mindset (desire, attitude, commitment), education (video materials, book study, coaching program), understanding of the business project and standard operating procedures, and decision-making ability. The speaker emphasizes the importance of finding suitable candidates for a lifelong business partnership. The webinar concludes with instructions for attendees to communicate their learnings and decisions to the person who invited them, as the next step in the selection process.
Rich Dad Poor Dad Lessons [43:28]
The video concludes with 20 lessons from the book "Rich Dad Poor Dad," emphasizing financial literacy, asset acquisition, and entrepreneurial mindset. Key lessons include the importance of learning new skills over earning a high salary, investing in assets that generate income, paying oneself first, and creating jobs rather than seeking them. The lessons promote financial independence and making money work for you.
