How an Unlikely “Gelato King” Used $56,000 in Winnings From a Controversial Sports Bet to Attend and WIN The Gelato Olympics. And the Real Lesson for Entrepreneurs and Small Business Owners Is Just as Controversial…
What would you do if you received a large influx of cash?
As you probably know, lottery winners are more likely to declare bankruptcy within 3 – 5 years and nearly 1/3 of lottery winners will eventually declare bankruptcy.
1 in 3 Americans who receive an inheritance blow it within months.
Yet the hero of our story today, the winner of a controversial sports bet made on a glitch in the live odds of a football game, resulted in an amazing tale of entrepreneurial success…
All because he did what most people don’t:
He invested in himself and his business.
What’s The Story?
Chris Calcano, the General Manager at his best friend’s gelato store in New Jersey, placed a “live bet” with only seconds remaining in a Denver Broncos football game that the team would come back and win – at the unbelievable odds of 750-1.
The kicker is, Denver only had a short field goal to jump ahead and win by 1.
As soon as the football soared through the uprights, Calcano and his friend, Mike Guerriero, went crazy – the app said he had just won $56,000.
Because of the obvious error in their odds, the sports betting platform pulled back the winnings… only to grant them right back to Chris as a result of a social media rampage as the story went viral.
A couple days later, Chris was the proud recipient of $56,000, and a once-in-a-lifetime story.
And while that’s all well and good, it’s what happened next that you should pay attention to.
Chris’s 1st Purchase Was Flights and a Hotel to Compete for the Gelato Olympics
Chris didn’t even have to think about it. His first purchase was two plane tickets and a hotel reservation for his best friend Mike and his wife — proud owners of the Gelato shop he manages — to Santa Barbara to compete in the Gelato Festival.
With Chris at home managing the 2 stores, Mike became the first American to win the competition and earn a spot at the World Masters in Italy (which is like the Olympics of the Gelato world).
As a result of this massive recognition as one of the world’s best gelato shops, along with a crazy story to boot — business has boomed at the stores.
Chris’s first big investment from his winnings paid off bigtime.
And you can bet he won’t stay a “general manager” at his friend’s stores for long.
How Should YOU Invest “Found Money” or an Influx of Cash?
While we don’t recommend turning to sports betting full time, as a small business owner there are plenty of ways you could come into an influx of cash, such as:
- Big tax refund as a result of re-submitting your tax return for the last 3 years (using a 2nd set of eyes from a new CPA). This one strategy netted our founder, Garrett Gunderson, a cool $54,000.
- Unexpected PR, “viral story,” or partner promotion that brings in a massive influx of sales.
- A new product or partner offer comes available that you can plug into your distribution line and add thousands in profits a year.
When this kind of serendipitous event happens, we suggest you do what Chris did… and invest it in yourself and in your business.
You are your greatest asset.
Many people who try to be “smart” with large cash windfalls often think they have to “invest” the money in more traditional ways like stocks or bonds or real estate. Others consider newer forms of investing like bitcoin.
Any of those could be fine IF they make sense for your unique Investor DNA or Strengsthvesting profile.
But remember, all of these things put your money at the mercy of someone else. Other people are now in control of your money and your success. And most people who invest outside their own control are disappointed over time as the marketplace tends to be fickle and foolish more often than not.
That’s why investing in yourself and in your business is usually going to be your highest-leverage and most profitable move.
That’s where you have control. That’s where you define your own success.
So always first ask yourself, “what can I do in my business to gain more leverage, grow faster, or save taxes?”
Ideas & Action Steps
If you want to see how we help small business owners invest in themselves so they can create Economic Independence as quickly as possible, without scrimping, saving, or budgeting…
- Download this free guide on: THE 5-STEP LIVING LEGACY FORMULA
- Browse through the guide and pick one action item to tackle in the next week on ways to
recover cash flow in your life
- Once you’ve recovered that cash flow, commit to investing in yourself (put it into your business, go to a seminar, or buy a course that makes you more productive, etc)
Wealth Factory Founder Garrett Gunderson wrote this guide to give you an inside glimpse of his personal legacy plan that allows him to live wealthy now, while still assuring his family will have everything they need to thrive in the future.
It’s all about using money as a tool to engineer and build your ideal life.
And it shows how “Investing In Yourself” and in your business is the easiest way to have that extra money so you can thrive, prosper, and profit right now, and still leave a legacy of generational wealth to your family.
That’s it for this week. Enjoy.
Build the life you love,
The Builders at Wealth Factory
P.S. If you want to read more about Chris, the “Gelato King,” here’s the full story.