I'm going to share with you the seven steps to start a business from scratch with no money.

You don't have to be rich or have money from your parents to follow these steps and make more money than you ever imagine.

I know this is true because I went from being broke in rehab to building and selling three companies

and becoming a millionaire by age 27 using this exact process.

Welcome to the Martel Method.

I went from rehab at 17 to building a $100 million empire

and being a Wall Street Journal bestselling author.

In this podcast, I'll show you exactly how to build a life and business you don't grow to hate.

And make sure you don't miss anything by subscribing to my newsletter at martel method.com.

The first is to pick a business model with high gross margins. Most people ask the question, what business should I be in? What they

should be asking is how should the business work? You see, Warren Buffett, the famous investor,

says look for companies with high gross margins,

which for most people brings up the question, what is gross margin? If you sell a product for $5,

but it costs me $1 to make, then my gross margin is $4 or 80%. What you don't want to be is in,

let's say, a restaurant where the margins are only 45%. You want to be on the upper end of 70, 80, even 90% gross margin or 97% like software or information companies. And to do this, you need to understand the

different business models you can start. So I've put together four business models that are the most

in demand today. The first is a product business with about 60% gross margin. These are companies

like Pila and Lomi, which I'm an investor in I sit on the board of, or laundry sauce,

which I'm an investor in, or Prime, which my kids drink nonstop. The key is, is to build a great

product that people love and then focus on brand and distribution. The second business is either an

agency or services and those have typically around 70% margin. And they're the best ones to start.

Think VaynerMedia, think NP Digital, think IAG with IMAB, think productized services. Anytime you get

...