Make Money While Making a Difference

Years ago I read a sad story about children that live in poverty and don’t have access to proper education.

I donated $30 and that probably didn’t solve much. I couldn’t afford more.

With the job I had at that time, I could barely make a difference. I would make a small donation and all I could do was hope that more people would do the same.

Now I have the freedom and the control to make huge differences.

In fact, I am making money by making a difference in people’s lives.

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Your Circle Of Competence and Why Sober Homes Are So Lucrative

If you read this blog periodically, you know that we are big believers in the quote, “there are riches in the niches.” Where this gets a little more fun is when you begin to “sub-niche.” What I mean by this is picking out an industry that you want to get into, where you know there is money being made, and something that (hopefully) you understand. Warren Buffett refers to this as your circle of competence. Periodically, you need to expand your circle of competence or as he likes to say “venture out to the perimeter.” Get ready to learn a crap ton about sober homes.

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Group Sober Homes & Additional Revenue Streams

Are there other ways to generate income and revenue from sober homes other than through Rent?

In a simple answer Yes! However, it really depends on what type of group home or sober homes you are operating as well as the location.

For starters, let’s assume that you are interested in starting a group home or a halfway home. Initially, you would like to simply get into the business because you realize that you can have a direct impact on people’s lives and help them improve their standard of living. You also realize that you do not yet “know all there is to know”, so you have decided to start small – with a minimal investment – in order to get your group home started up and therefore go after the higher functioning population rather than starting up an ICF/MH home which requires a lot more knowledge and insight. For example, maybe you would like to go after people with disabilities such as alcoholism.

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