Tuesday, June 30, 2009

We can all Make Money (no secret ingredient needed)

“If we study people who have gotten rich, we find that they are an average lot in all respect.” Wallace D. Wattles, Science of getting rich

In this statement, we learn that people who make money and wealth and are successful, not because they have magical powers, special gifts or special talents. They are successful because they do the right thing at the right time and in the right way allowing them to achieve their desired out come.

I have met and interviewed many people who have acquired all the money and wealth they could ever want. In talking with them, I personally learned that they are just people like me who have learned self control when it comes to making money and wealth. Like in Kung Fu Panda, "There is no secret ingredient."

What this means for us is that we can accomplish our dreams and goals if we learn to focus on them in an optimistic way, and take consistent action to achieve them.

Monday, June 29, 2009

Top 10 Ways to Fire your Boss

Firing the boss is a day many people look forward to when choosing to make money. For some, it marks the journey of a more satisfying career, for others, leaving the corporate world all together. Regardless of the reason why, the normal letter with two weeks notice is out of date and needs updating. Here are some much more creative and fun ways to fire your boss on your wealth journey.

NB. Use at own risk. If you are planning on getting a referral from your boss now or in the future, you may have to modify some of these ideas to ensure you maintain a friendly relationship with the company.

1. Throw a paper aeroplane on to their desk with your desired message on it. Create several paper aeroplanes and do it several times for fun.

2. Fill their office with balloons and leave a pin on their desk with instructions to pop the balloons. You can then have parts of your message all in separate balloons or write the message several times and put the full message in all of the balloons.

3. Leave five or so sticky notes on their computer screen with your desired message. Have some fun hiding more under the desk, on or in the filing cabinet, on papers in their "In" tray, under the keyboard and mouse, on the height adjusting lever on their chair (after you adjust the height).

4. Throw yourself a party with streamers, balloons, the works and have a cake. Share with everyone and have your boss as the guest of honor. Play games like "who knows me best?" and "what's the first thing I should do now that I've quit?" Grin about how you are leaving the whole time.

5. Wrap a present for them. A photo of yourself at some exotic location with your desired message attached. Leave the gift on their desk, making sure their name is on it to ensure they receive it.

6. Set their screen saver to your desired message. Set it so that it goes off after one minute of idle computer time to make sure they see it.

7. Print your message off on a piece of company letterhead paper. Cut it into large puzzle pieces and mail them all at once in individual envelopes to your boss.

8. Create paper chains (cut paper into strips, tape them into paper links and form a chain) out of the words of your message with a note saying there is a big surprise for the person who figures it out first. Give them the biggest piece of your quitting day cake.

9. Jumble up the letters in your words to make a word jumble. Stick it to their computer screen with a note saying that if they figure it out the person in the jumble will give them $5 and see if it motivates them enough to figure it out.

10. Print out your message on fancy paper with love hearts and leave it on their desk in a scented envelope titled "to (their name) from your SECRET ADMIRER".

Good leaving messages:

"I'm sorry but I'm going to have to let you go. I can't handle you as my boss anymore. I'm doing something better with my life. I resign."

"I just can't afford to keep you on anymore. I'm doing better things. I QUIT!"

"I'm sorry, but your position is no longer needed in my life. You have been made redundant. I am following my own desires, not the directions of this company. I quit."

"After reviewing my last six months of performance checks, I've realised that my unique talents and abilities can be utilised much better somewhere else. I quit."

Optional teaser lines to become the second part of the message.

"P.S. The person who broke your chair last year, put chewing gum under your keyboard and wrote (boss' name) stinks on the toilet wall in permanent marker was me."

"P.S. I know who stole your special hand held massaging thingy last month. However if I told you, I'd have to kill you."

"P.S. I've all ready allocated my stationary to (colleague) and my space in the office fridge to (colleague). If you want you can have my wastepaper basket as I know how important office cleanliness is to you"

"P.S. Have a nice day."

Friday, June 26, 2009

Millionaire Interview about How to Make Money: Loral Langemeier

At Booming in the Bust I was privileged to interview a few millionaires and gave them a few questions about how they became successful and what we can do to become successful. Here's the interview with Loral Langemeier, one of the entrepreneurs featured on "The Secret". She answered these questions about making money.

Q: How did you make your first million dollars?

A: Through business and real estate.

Q: How long would it take for you to mentor someone to your level of wealth?

A: It depends on you, my fastest student to become a millionaire was in 9 months from when they started my program.

Q: What's the most important lesson you've ever learned?

A: Get a team (of like minded individuals).

Q: What's your most important success habit?

A: Don't hang with draining people. Whiners.

Loral's site is here: http://liveoutloud.com/ she has lots of FREE things as well as paid events.

This interview reinforced to me how important it is to have a team of people around you who will help you get to where you want to be. It's one thing to step above the crowd, we have to find a new crowd of like minded people to connect with to make money.

That's why it's so important to go to events that attract the friends you are after, go to clubs, meet over the Internet, whatever it is. We must reach out to find those like us so we can progress.

Thursday, June 25, 2009

Consistent Action Makes Money

"Prosperity doesn't happen in a day, but it does happen daily"- Pat Mesiti

Many of us start out doing different ventures with the desired result of success. We expect that it will take little time with little effort and then when we are not getting the desired result many of us give up. The funny thing is that, of all the successful people I have spoken to is that they all say that most people give up to early, they are just at the point of breaking through and they stop.

Then there's another common downfall of not giving it every thing we have. Going in half hearted, on the motivation roller coaster (taking action, and then not taking the right steps for success, then taking action again and so on).

The only way to make money instantly is to win lotto or work in the mint. As for the rest of us who want to earn our wealth honestly, lasting wealth, it takes daily effort, taking the right actions consistently and daily.

When we take the right action steps consistently, that is when we make money and wealth.

"Consistent effort yields results"- Bob Allen

Wednesday, June 24, 2009

What do you do with the Money you Make?

"We think we own things, but the reality is, our things own us". - Joseph B. Wirthlin

You may be thinking what does this mean, or how does this relate to me?

The title of this blog is "Make Money and Wealth". This post is going to focus on the wealth point. There are so many ways to make money and even more people saying they know how to do it. One of the things that I have learned is that making money seems to be relatively easy. Keeping it, that is the real test.

We live in a world where things have and continue to speed up. This has been fantastic in so many ways. But with that, many people expect to have everything, now. And sometimes this can result in excessive debt which is a major drain of money (interest) and cause of stress.

If you over commit you can become imprisoned by the things you have purchased. Every waking hour might be spent worrying on how to make the next payment. It might even keep you up at night, niggle at you, and then there are the dreaded credit card bills! Quite often this can cause sickness and strain on relationships and takes up a lot of your money!

So what's the solution to this? One of the rules to wealth - SPEND LESS MONEY THEN YOU EARN.

Also, prioritize a portion of your money to giving, savings and investments. The rest can be used to pay the bills and buy those things you've been wanting!

This way, we set ourselves up for success so that as we make more money, we manage our money and actually have something to show for it. This could be savings, investment or paying down mortgages and other loans more quickly, all of which equal lifestyle! Which is why we make money anyway, isn't it?

Tuesday, June 23, 2009

Bob Proctor's insights help us Make Money

Today I listened to Six Minutes to Success, a video program by Bob Proctor. One of the things I learned about today was the negative emotions of hatred, revenge and jealousy and the impact they have on money making.

For example, when you think hateful thoughts about someone, who is experiencing the hate? You are. The person you are thinking about doesn't know. But you get in the vibration of that hate and you feel it. You. And if you believe in the law of attraction, you know that the feelings you are in harmony with are the things you bring to yourself.

According to Bob jealousy and revenge are not necessary either. In fact they distract us from our goals, they take us in the opposite direction. In fact getting even never helped anyone.

So what does this have to do with making money? Well when we realize the negative effect these negative emotions have on our ability to make money and have good things in our lives, it's easy to decide to move on. We can free up our minds to focus on much more powerful things like our goals and visions, how we want to do good in the world, what impact we can have in our own lives and the lives of our friends and family.

Let's all decide today to ensure we hold good feelings about ourselves and others. Then we can focus on building wealth and succeed!

Learn more about Bob's Six Minutes to Success by getting a FREE video or by reading about it.

Monday, June 22, 2009

Booming in the Bust: How to Make Money in a Recession

On Saturday I went to an event with Loral Langemeier, Joel Comm, Harry Dent and David Bussau speaking.

The event was amazing! Harry started out with a great presentation about how a Great Depression is Great and how it creates a level playing ground for entrepreneurs. He also talked about how and why they happen and how it's not about all the little indicators many economists use, it's about population trends and what people are doing with their money. At the moment in the western world the people who have been driving spending- the Baby Boomers- are in the time of their lives where they slow down spending. And the younger generations don't have the population to sustain the spending of the baby boomer's past. So as a result you have deflation which in such a big impact results in a recession. He predicted this recession years ago, as have many others, and has many predictions for the near future. For example when he moved to Miami a few years ago he chose not to buy and decided to rent knowing what would happen to the real estate market in the coming years. Since then some parts of Miami have dropped 80% in value. He also talked about how to use the current times to our advantage and what to do. It was truly mind opening. Find out more about Harry here www.hsdent.com/

Loral spoke about maximising your time, not wasting time with people that will drag you down and masterminding with people that will help you succeed. Specifically her speech was targeted to making money no matter what.

Joel Comm's was totally motivational. He was sincere and you could see that he really believes in what he does, and that anyone can do it (his mother even). He spoke about the internet and different ways to make money on the internet. Specifically he talked about using youtube, linkedin, facebook and twitter to get traffic and credibility and connect with people. He also talked about adsense and how he makes loads of money with it. And his IFART iphone application that has sold half a million units world wide! All in all it was a great talk, his was one I enjoyed the most. His website is http://www.joelcomm.com/

The last of the day was David Bussau, an entrepreneur who went from an orphan to creating Opportunity International, a self sustaining micro finance organization with the vision of ending poverty in this generation. It was inspirational and heart warming to see the change we can make once we "be the person God made us to be" as he says. I wrote like crazy during his talk, one of my favorite things he said was "Just be yourself because everyone else is taken". He was inspirational and truly touching. Visit Opportunity International here www.opportunity.org/ Oh and his organisation creates a job every 20 seconds of the day for people in developing countries.

We also got a chance to form mastermind groups which I have spoken about before and are a great way to hold yourself accountable to others in taking the actions necessary to make money. The emphasis of the day was definitely on taking action.

I got great insights and learned from those who have paved the way before us and network with like minded people. I also got a chance to interview two millionaires and set up an interview with a third. Great!

Wednesday, June 17, 2009

Making Money in Turbulent Times

I think when we go through a financial crisis the response as a society is "someone help us! Give us some money! Save our businesses or the company I work for! Save my house!" And so we see lots of government bailout schemes and stimulus packages to save the people from themselves.

The fact of the matter is the position of the economy is due to people's living outside of their means. At a national level and on an individual level. If we want to save the national economy, then we must take care of our personal economy.

Government Bailouts and Stimulus Packages do have short term results but they do not fix the underlying problem. It is people's lack of information about money, not knowing how to manage money and not knowing how to make money when they want or need to. Think about it, 99% of people are dependent on their boss for their income. If your boss doesn't want, need or can't afford you anymore, what happens? You have no income. You have to go look for another person to be dependent on for your income.

Of course, there is a place for employment, it is necessary in the post industrial revolution world, but if it's not the only source of income then when companies hit hard times, it doesn't matter, we can just go out and make more money anyway. We can weather the storm while we rebuild our reserves.

I think the real answer to situations like the one the world is in at the moment is education. We've all heard that "knowledge is power" but what does it really mean? I'm not talking about going and getting another uni degree so we can go depend on another employer for a slightly higher salary, who might not need us anyway, I'm talking about simple but effective training on how to really manage money. What options are there to really multiply our money? How can we increase our income without increasing our workload? How can we make money work for us?

The point is we have to be proactive as individuals if we want to make more money, and thrive in financial turbulence. When we become proactive as a community, as a country, then we will have a nation that prospers.

Get a FREE video about making more money with one of the world's best teachers today

Monday, June 15, 2009

A Broker as part of your Money Making Team

One of the invaluable people to have on any real estate team is a finance broker. Apart from knowing what loan options will get you into the deal you have found, many brokers are also experts in their local real estate market.

For example, the broker I use knows in detail almost every area within a minimum of half an hour's drive from my house. Considering that within each suburb there are micro areas, even streets with different dynamics to the rest of the suburb, this is valuable information to have. Learning this would take me years of experience. While I learn, I can leverage my broker's knowledge and make great investment decisions.

Another thing is that many brokers have access to the same information banks use to value a property. Even if you aren't planning on obtaining bank financing, this is VERY important to know as it helps you determine what the property is worth, so you know when you're getting a good deal. And if you're planning to sell the property it's good to know how much a bank will lend to your buyer- will they afford to buy it off you?

One caveat to be aware of when looking for a good broker is that finance brokers are paid by the banks for selling you a product. They do get a commission off the loan you apply for. In some cases the worst loans can pay the highest commissions, so it's important to know that you have a broker looking after your best interests, not theirs.

One way to test out if you've got a good broker is to test them out on how helpful they are with their property knowledge. See how much help they'll give you on valuing a property. If they're happy to give you free information about their experience with an area it is a good sign. Mine will email me a CMA (comparative market analysis) anytime I'm interested in a property because he knows if I do buy one I'll probably go to him if I want bank financing. He also gives a dollar value on what he thinks it's worth and so far he has been on the dollar EVERY time. Every single time.

Another way is to find past clients and see what experience they've had. You can find reviews on the Internet or check with your local investor club and see what anyone there has to say. Lastly, when using bank financing with or without a broker, always make sure you read the loan document fully to make sure you are aware of any hidden fees or conditions on the loan or property used as security.

Saturday, June 13, 2009

How Important it is to form a Money Making Team

Yesterday I spoke about the help a broker gave me with one of my deals. It shows just how important it is to have a good team in place when you make money.

Think about the guy who used to own the 29 lot property (before the bank took it back): he tried to sell them for $220K when they were worth a maximum of $150K. He had an agent on his team (from out of town?). He even held a family day with jumping castles to try and sell the lots. But he didn't succeed. Why? He was missing important people in his team.

If he had a good team with a local agent or broker, he would have known the properties were only worth $150K before he began. He could have used more accurate numbers in figuring out his feasibility on whether the project was worth doing before he began. And he could have avoided the process of foreclosure and repossession. OK, I'll give it to him that prices dropped within the time frame that he tried to sell him. But if he started with more accurate projections he could have sold some of the properties before the price drop and still come away with a profit of some sort.

It's important to have good honest team members who want to make you money as well as their own wealth. An agent who gives inflated valuations of properties isn't a good member of your team. If you base your numbers on their expectations you could lose a lot of money. So you've got to check that your team members are telling the truth with actual data, for example recent sales and Days on the Market statistics. Of course, you don't say to anyone that you think they're lying, but most agents will be happy to give you a CMA (comparative market analysis) on a suburb you're interested in. After all, you are their business!

Friday, June 12, 2009

Get to know your Area BEFORE you Invest if you want to Make Money in Real Estate

Yesterday I spoke to a Broker in my area to check out financing for the 29 lot subdivision, and a smaller deal. I'm glad I did.

He gave me the lowdown on the property, why it hadn't sold (the past developer asked for $80K above market value), and also some useful information on the area.

Apparently, the suburb has two sides. After living in the area for just over a year I've only ever driven through the new housing estate and seen upmarket homes. However, apparently on the other side of the suburb there are some issues with violence. So what, properties still sell in these areas right?

Yes they do. But he also told me that the land across the road from the property I've been looking at took THREE YEARS to sell. Three years, apparently because of the bad name of the suburb. Well, three years of financing would take any profit away. You might be able to make money in this deal, but you might not. It's got too much gamble in it.

There's always the argument that if you price a property right it will sell anyway. But you've got to find enough people who want to live in that suburb who would be willing to buy there, no matter what the price is. I could market the lots as first home buyer cheapies but then I'd be competing with even cheaper suburbs with the same violence issue. Bottom line: product is upmarket but location is bottom market. What does this mean? Longer selling times and lower prices.

With one or two lots, you could sell to people out of the area, but with such a large number you'd rely on local buyers too.

It just goes to show how important public opinion is in buying an investment property. It can give you a great bargain and can also stop you from making money. Even though this area is miles from the rough area, because they share the same suburb name the stigma exists. So get to know your area, or if you don't, ask someone who does.

Tuesday, June 9, 2009

Make Money by Joining a Group or Mastermind

On the weekend I went to a group meeting with 13 other people interested in making money.

Why? There are plenty of reasons to go to meetings like this: connect with like minded people, learn ideas about creating wealth, expand your network of make-it-happen contacts, get ideas moving into fruition with the help of others, and to help others on their own wealth journey!

I think everyone who decides to make money in their life experiences opposition from somewhere, whether it be friends, family, work colleagues, or their old habits and mental conditioning. Whatever the source, connecting with like minded people can help you overcome that opposition. It ads fuel to your engine to make the journey a lot easier.

Mastermind groups are spoken about often in the personal development industry, but I think it's only once you actually experience one for yourself that you see the real benefit. People talk about them a lot but only a few actually do something about it. So if you feel like you're the only one you know doing property, shares, business, Internet marketing, or whatever it is you're doing, what can you do?

1. Search the Internet for groups near you
2. Google experts in your area- many have groups and followings who meet often, you might be able to join in
3. Join a mentor program which usually involves networking with like minded people. If there isn't a group all ready you can form your own group with the contacts you make
4. Go through all the people you know and ask yourself who is interested in what you're doing? You may have heard them talk about it once but have since forgotten. You can invite these people to join a group you make, once you check that they actually are interested

The most important thing is that when you meet as a group the meetings are uplifting and focused around your goal of making money, or whatever your goal is. Briefly mention challenges you're going through and see if any of the group members have any suggestions. Focus on progress and results, keep the conversation constructive. Be open to any new ideas, don't criticize anybody. Keep minutes and an agenda to keep you on track. Have a purpose before you begin.

Following these steps will help you have successful mastermind meetings and supercharge you on your journey to creating wealth and happiness in your life.

Friday, June 5, 2009

Making Money requires Work: you don't get something for nothing

I know I've spoken about this before, but it really stands out to me on how important it is to understand this concept: you don't make money by doing nothing.

In other words, it takes effort to create wealth. We have to do something, provide some service, help some people, in some way.

Bob Proctor, in his audio titled "Money" says that money is a reward for service rendered. We get money by helping people.

There is freedom in this concept: if you are relying on someone to give you money for doing nothing, waiting for a handout, you are not in control of how much money you make, and you can't just go improve your situation. You're giving you're power to someone else.

However, if you work to create wealth, you are in control. You know that if you require more money to provide for your needs and wants, you can go out and earn it. You can help yourself. You don't have to wait for someone else to help you, you can do it yourself! In this there is power.

So next time when you think about the vacation you want, the bill you want to pay, whatever it is you want to acquire, ask yourself: what can I do to earn the money I want to pay for that? How can I manage my wealth better to free up the cash required to pay for that? These questions will start the creative juices and help you find a motivating solution to a temporary cash problem.

Find out more about making money and get a FREE video with one of the world's best wealth teachers . Get the FREE video here

Thursday, June 4, 2009

How to Make Money with Affiliate Marketing

Affiliate marketing is one of the storms that has captured the Internet for the past few years. Most major websites incorporate it in some way to their sales strategy. So what is it?

Put simply, the process works like this: you refer someone to their website, they buy something, and you get a commission from the proceeds of the sale. Sounds great! Then why is it that only a small proportion of affiliate marketers make money?

I guess because many people that sign up as affiliates aren't doing it as a serious business venture. Many may just be doing it because they bought something, saw the company's "make money" link and let all their friends and family know to make some extra cash.

Those who do it a business venture know that it requires persistence, a good system and application of that system.

For example, you need
1. A list of potential buyers, website traffic interested in the product, a way to reach hundreds to thousands of people
2. A system of communicating with those people so they are interested in what you have to say
3. A good sales page (provided by the company).
4. A match between interested buyers and the products they are interested in (no point selling baby goods to single men)
5. A company that's in it for the long haul (so that when you build your income stream it's there to stay)
6. A good product so that you don't get charge backs

The good thing is, most companies offering affiliate programs also give the basic training needed to make money in their program. Good companies give great training in how to make money in their program. Some even teach how to build a list and get traffic to your site.

Tuesday, June 2, 2009

Learn how others Make Money by Interviewing Millionaires

One thing the many Millionaires recommend is interviewing people who have the money you want, to find out how they did it.

Think about it: Think and Grow Rich, one of the most popular wealth books in the history of time, is based on what Napoleon Hill learned while interviewing the Rich and wealthy of the day. He asked them how they did it, what did they do, and thereby found out the philosophy of money making. While we may not be creating a book to be read for centuries to come, we can create a legacy in our own lives and improve the lives of others around us.

It's important to know what you want to ask before you meet your millionaire. A list of questions to ask can be found in "The One Minute Millionaire" by Robert Allen and Mark Victor Hansen, and some are here:

  • How did you make your first million?
  • How long did it take you?
  • How long would it take you today?
  • What is the system that you used to make it?
  • Is this system transferable?
  • What would you recommend that I do to become a millionaire?
  • What's the most important lesson you've ever learned?
  • How do you integrate spiritual values into your life?
  • What is the legacy you want to leave?
  • What's your most important habit?
  • What opportunities do you see that you don't have time to take advantage of?

From doing these interviews my own perspective about making money has changed. I have learnt alot from these millionaires. People who aren't just doing it to make money, they do what they do to help people, to change the world. I'll be posting some of the insights I've gained through doing these interviews on this blog. Let me know what you think.

Monday, June 1, 2009

Quote to help us Make Money and Wealth about overcoming Fear

Every journey, particularly those involving making money, involve a decision. A time where we will go through the test which asks us "Is it really worth it? Are we really ready? Are we willing to do what it takes?"

Every improvement involves risk, and often fear. To make money, we usually have to overcome some fear, whether it be speaking to someone, putting together a proposal for a business deal, even risking some money. The thing is, while these fears are there, often they are not real. They simply stand at the gate between where we are and where we want to be, trying to stop us from going in. So what can we do? Jeffrey R Holland has these words of advice:

"Beware the temptation to retreat from a good thing."

Sometimes it seems easier to turn back when the going gets tough. But in this there is no progression. If you really want to make money, to lose weight, to find that relationship, you are going to have to do things that cause you to shake and feel scared. As my mentor Gerry Robert says:

"Feel the Fear and do it anyway!"

The thing to remember is why we are doing it in the first place. Why do we want to make money? This is why it is so important to decide what it is you want in life. Make it so important to you that fears don't matter. Making money, or whatever it is, has to be much more important than the feeling of fear, so that you listen to your dreams, not your fears. My mentor Robert Allen says:

"Feed your dreams, starve your doubts."

Let us all remember continually why we do what we do, what are we aiming for? This will help us in moments of doubt or fear to move on into the life ahead of us, especially when making money.