Ideas! Every business or invention that changed the world came from a idea!
Think about all the things that we can't do without in our lives, like the car, the cloths we ware, the food we eat, how it reached us, the internet and many more, where would we all be if someone did not take these ideas and made it a reality.
The Rich are rich because they can take a idea and turn it into a business that changes peoples lives. The single most sought after skill is the ability to turn an idea into something real. The story of a 65 years old man by the name Colonel Sanders who took an idea and made it a house hold name is a good example. What about the story of Bill Gates who started a company with a product that was not even his. And the story of a collage student who started a small business from his garage selling computers.
Friday, December 4, 2009
Good Debt Versus Bad Debt!
Our attitude to money is reflected in how we handle debt!
If you think that debt is bad and you should pay it off or default on it, then you will always remain poor or average.
The Rich always take on debt because they know how to manage their debt well and make it generate income to eventually pay off it self. The Rich understand the more money you have, the bigger the net is and the bigger the catch will be, the faster they can retire. All of this is done with the view of creating value and growing a business. That take skill, hard work and discipline.
If you think that debt is bad and you should pay it off or default on it, then you will always remain poor or average.
The Rich always take on debt because they know how to manage their debt well and make it generate income to eventually pay off it self. The Rich understand the more money you have, the bigger the net is and the bigger the catch will be, the faster they can retire. All of this is done with the view of creating value and growing a business. That take skill, hard work and discipline.
OPT or Other People's Time!
How much can you do with your two hands, two legs and 24 hours a day?
Not much!
How much can you get done with unlimited hands, unlimited legs and with the same 24 hours?
Unlimited results!
That's has always been the challenge for the Rich. How to find the smartest minds and how best to employ them. The goal here is to build a business that eventually don't need the owners. They go on vacation and come back to a business that is bigger and doing better in their absence.
Not much!
How much can you get done with unlimited hands, unlimited legs and with the same 24 hours?
Unlimited results!
That's has always been the challenge for the Rich. How to find the smartest minds and how best to employ them. The goal here is to build a business that eventually don't need the owners. They go on vacation and come back to a business that is bigger and doing better in their absence.
OPM or Other People's Money.
How long would it take you to save $1,000,000?
A couple of lifetime at least, right!
How long would it take you to borrow $1,000,000?
Less then an hour, with the right fundementals. You can go to any bank and ask what do you need to have to qualify for a business loan. Bankers will not ask you for your school report card! They are interested in if you know how to manage your money well and have proof to back it up. That is why it is important to learn the language of money. It is like any other spoken language out there but they don't teach it in school.
The Rich know how to do this and they know how to get free money(that is money they don't have to pay back)!
How do they do that? Have you heard of the Stock Market? That how millions in capital is raised, interest free!
A couple of lifetime at least, right!
How long would it take you to borrow $1,000,000?
Less then an hour, with the right fundementals. You can go to any bank and ask what do you need to have to qualify for a business loan. Bankers will not ask you for your school report card! They are interested in if you know how to manage your money well and have proof to back it up. That is why it is important to learn the language of money. It is like any other spoken language out there but they don't teach it in school.
The Rich know how to do this and they know how to get free money(that is money they don't have to pay back)!
How do they do that? Have you heard of the Stock Market? That how millions in capital is raised, interest free!
Thursday, December 3, 2009
Leverage!
What is Leverage?
Leverage is the tool that helps you achieve your goals and dream faster that anyone else.
I am sure you have ridden in a car or airplane before. Imagine if there were no car or airplane! You can look forward to a long slow walk.
The Rich know how to use Leverage like:
1. OPM(Other People's Money)
2. OPT(Other People's Time)
3. Debt
4. Ideas
5. Systems
Let see how each one can help you achieve your goals and dreams.
Leverage is the tool that helps you achieve your goals and dream faster that anyone else.
I am sure you have ridden in a car or airplane before. Imagine if there were no car or airplane! You can look forward to a long slow walk.
The Rich know how to use Leverage like:
1. OPM(Other People's Money)
2. OPT(Other People's Time)
3. Debt
4. Ideas
5. Systems
Let see how each one can help you achieve your goals and dreams.
The Plan!
Ask yourself this question!
Has anything good in your life come without it being planned?
Think about it for a while and you will find that there is always a plan, either it's your own plan or someone planned it for you.
When it come to money, your dreams and goals, it's the same. It starts with a plan.
Have you put any thought into your financial freedom. What's that I hear? NO!
Why not?
Don't worry! Your are not alone! People spend more time planning their vacation then planning their future!
What is a plan and what does it look like? It depends on what you want to achieve in your life.
We will talk more about it later, but first let look at why should we plan!
Has anything good in your life come without it being planned?
Think about it for a while and you will find that there is always a plan, either it's your own plan or someone planned it for you.
When it come to money, your dreams and goals, it's the same. It starts with a plan.
Have you put any thought into your financial freedom. What's that I hear? NO!
Why not?
Don't worry! Your are not alone! People spend more time planning their vacation then planning their future!
What is a plan and what does it look like? It depends on what you want to achieve in your life.
We will talk more about it later, but first let look at why should we plan!
The Holy Grail Of Wealth
You might be wondering "What is It?"
Don't be suprise. It a word that seems innocent enough, but has a life of it's own. The word is(Drum Role Please........)
SAVE!
Yes, that where it all starts. The rich know that, it's not what you make but it's what you keep that makes you rich. The rich know the skill and art of getting money to work harder then they could ever work in their whole lifetime.
If you are starting out in life and have a plan to enjoy the good life, then your starting point is 30% SAVING and 70% SPENDING. If this is not your ratio, then you are in trouble, my friend.
Ever person who know what financial freedom is started here and worked up to 70% SAVING and 30% SPENDING.
Don't be suprise. It a word that seems innocent enough, but has a life of it's own. The word is(Drum Role Please........)
SAVE!
Yes, that where it all starts. The rich know that, it's not what you make but it's what you keep that makes you rich. The rich know the skill and art of getting money to work harder then they could ever work in their whole lifetime.
If you are starting out in life and have a plan to enjoy the good life, then your starting point is 30% SAVING and 70% SPENDING. If this is not your ratio, then you are in trouble, my friend.
Ever person who know what financial freedom is started here and worked up to 70% SAVING and 30% SPENDING.
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