The Jeet Banerjee Guide To Building An Empire

 

Empire. That’s a big word that’s attached to an even bigger dream. It wasn’t until my 18th birthday that I realized I wanted to build an empire.

 

 

Everyone has their reasons for trying to build an empire, but mine was fairly simple. I was passionate about a ton of different things and I wanted to create as much value in the world as possible.

 

 

Ever since that moment, I knew I was going to build an empire and deliver on that promise. I’m just in the toddler stages of building my empire, but I’ve already learned a lot about it.

 

 

In this guide, I’m going to share my guide on how to build an empire along with sharing insight on where my empire stands today!

 

 

Stage #1: Build A Plan 

 

Richard Branson, Elon Musk, Jay-Z, Oprah and so many other amazing phenomenon’s have built their own empires. As famous as their businesses may be, their empire is most-well known for the person behind it.

 

 

Before you start building your empire, you need to make a promise to yourself. You need to tell yourself that you will be the brand behind this empire and you will have a deeper purpose than money.

 

 

In the early stages, you need to take a piece of paper and outline the following things:

 

 

– Your passions

 

– Your purpose

 

– Your time limitations

 

– Your income

 

– Your short term & long-term goals

 

 

When you build an empire, it becomes your work for the rest of your life. By writing out your passions, you can spawn a great idea to start with while ensuring that you work on things you truly enjoy.

 

 

If you want to make a lot of money, build a business. Empires truly succeed when the passion is far deeper than money. My purpose is to change the lives of people by creating value and leaving the world with something that lives on without me.

 

 

Empires are long-term projects that take up all of your time in the short-term. Figure out how much time you can truly spend so you can plan accordingly. Lastly, empires don’t necessarily generate revenue from day 1. Figure out how much money you need to be making in order to focus all your time on your empire.

 

 

Stage #2: Build Income 

 

With your piece of paper, you should have figured out how much money (the bare minimum) you need to survive. I know the focus of your empire isn’t to make money, but money buys freedom.

 

 

You need to be making money (the more the better) so that you can buy freedom to continue working on your business. The best income streams to create for yourself are those that are passive.

 

 

Imagine a world where you can work on any aspect of your empire while getting paid at the end of each month to pay off all your expenses. You must start by building passive income streams.

 

 

I made the big mistake of focusing on the big idea instead of creating a passive income stream for myself. In the beginning, that was tough because I wasn’t make any money. I took a reverse route because I built my first big piece to my empire before creating the passive income streams (which I’m working on right now).

 

 

Here are a couple ideas on how to generate passive income:

 

 

– eBooks

 

– Apps

 

– Niche websites

 

– Product Automation

 

– Affiliate Marketing

 

– Digital Products

 

– Investments

 

– And More

 

 

I look at passive income as anything that requires a ton of work upfront, but requires very minimal efforts afterwards. It must have the ability to generate you the income you need to live month to month without you spending much time. From there, it’s time to focus on the big picture.

 

 

Stage #3: Build A Brand 

 

Once your month to month expenses are taken care of, it’s really time to focus on that big value builder. Richard Branson’s big-time company was Virgin Records. My big-time company so far has been StatFuse.

 

 

You need to find that big idea that you want to dedicate the majority of your time on. These business ideas usually take months to foster and my course on building startups dives deeply into this topic.

 

 

Your goal with this stage of the empire is to build something amazing. By amazing, I mean something that has the ability to impact millions of people, is extremely unique and at the end of the day is a company/brand.

 

 

While you build this business simultaneously, it’s time to start building a brand out of yourself. I have mentioned this many times in my blog because it’s extremely important to understand that people love to buy from another person, not a company.

 

 

Some easy ways to build your brand up are:

 

 

– Dominate social media by connecting with as many people as you can (Twitter, Facebook, LinkedIn).

 

– Share your expertise through speaking gigs, videos, blogging, books, etc.

 

– Get others to talk about you by drawing press coverage to yourself.

 

– Connect with influencers/important people and have them start talking about you.

 

 

As you begin building your primetime business, it is imperative that you start building your brand. This is the best time to showcase who you are, what your expertise is and why you matter.

 

 

Stage #4: Impact, Scale & Diversify 

 

When you build an amazing company, you’re looking for that big moment. The big moment to some people is when the company gets acquired while others consider it the big moment when they land a million dollar investment.

 

 

Regardless of what it is, you’ll know it’s your big moment because people won’t stop talking about it. Millions of dollars in revenue, raising tons of money or getting acquired are all amazing accomplishments that will get people talking.

 

 

When any of these things happen, it’s now time to scale your empire slowly. I would start with investments in other technologies, companies and people that share a common vision with me. In addition to these investments, I would start working on the things I couldn’t do when money was an issue.

 

 

Most people like Richard Branson, Elon Musk, Jay-Z and others have worked on creating more businesses with high impact value. At this point, they would have the money to scale their future projects rather rapidly.

 

 

They continued to make an impact with a few different projects before they really started focusing on the things that they were the most passionate about. These things didn’t necessarily have a revenue model behind it.

 

 

Elon Musk has been fascinated with the idea of building hyperloop trains while Jay-Z has shown his passion about sports. These things make a difference, but don’t necessarily offer the greatest ROI for them.

 

 

Update On My Empire

 

Many people love to hear about where I’m at with my own empire. In this section, I’ll outline a key mistake I made, how I bounced back from that mistake and more information about where I’m at with my empire.

 

 

I started out by launching StatFuse, which was my first primetime project. I made a mistake because I wasn’t generating any revenue aside from that project at the time and had completely skipped the foundational stage.

 

 

While this mistake did end up costing me time, I have managed to regroup in the last 6 months. I learned a very valuable lesson from this and began focusing on building passive income streams simultaneously. Money isn’t the end goal, but it’s a catalyst to buy you the freedom you need.

 

 

With that said, I’m focused on currently building a passive income stream with my partner that can go upwards of $20,000/monthly that gives us the ability to have our expenses paid for while giving us some extra cash to invest others/fund our own projects.

 

 

While I work on that, I simultaneously plan to grow StatFuse and am currently in the process of taking it to the penultimate stage of impacting millions. My empire currently sits somewhere in the middle of stages 2, 3, & 4.

 

 

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