People talk about mindsets and millionaire mindsets all the time.
Finding the millionaire mindset is like a holy grail in investing and entrepreneurship.
I would describe a good mindset for success like this:
1) Know what you want, and be able to explain it.
2) Make a plan and two back up plans that take you to where you want to be. Set subgoals from where you are now to where you want to be.
3) Get help from others, ie a mastermind alliance or business consultant. Talk to people who have done what you want to do.
4) Resolve in advance to tackle the setbacks and challenges that will arise.
5) Write down all of the benefits of reaching your goal. Doing this will reinforce the desire to reach the goal and deal with the obstacles. It may also help you to define what you want.
6) Take action on your goal every day.
7) Read "The Forbidden Book of Getting What You Want." This book will get you going on developing the proper mindset. Despite some typos, this book delivers. You can read the reviews by clicking on the ad at your right.
Sunday, October 11, 2009
How to Become a Billionaire
Off the top of my head, these ideas will halp you to become a billionaire.
1) Quit blaming others for your problems and failures. Accept full responsiblity for your life.
2) Start a business. Science and technology, including health sciences are two of the big fields to look into.
3) Think big. Chase big stuff, not little stuff. Sell things everyone needs or high end stuff the masses want. Acquire a list of customers and resell to them in the future.
4) Have a business model that is as simple as possible. Make sure your business plan is complete.
5) You will work long hours making your billions. Delegate the unimportant stuff. You need to do the important stuff, to make sure it is done right. Make sure your time is never watsed. Have an attorney review your business plan.
6) Study the business plans and annual reports of your competitors, or at least of your favorite, or similar companies. A degree in business goes a long way.
7) Start or join a mastermind alliance. You need to acquire specialized knowledge.
8) Be alert for financial predators. Consult your attorney.
9) Form an LLC or other corporation type at the start of your venture.
10) Back to your business plan. Make sure you have FAQs for customers, investors, employees, etc. You want a kid to be able to understand what you are selling.
11) Read the 4 Hour Work Week, by Tim Ferriss and Before You Quit Your Job, by Robert T. Kiyosaki. There is information in both books that will help you.
12) Improve and develop your products. Focus on creating and improving your products and the selling of them and avoid doing things that do not directly affect the bottom line.
13) Have a vision for your company. A good vision will keep all hard working employees motivated and will improve morale.
14) Look at the bottom line. How can you sell more? How can you cut expenses? Ask your self these questions. Do things that improve the bottom line.
15) Have a plan. When will you sell your business? Will you takeover another company? There are a lot of things you must plan for.
16) You need capital reserves. You need a golden parachute. You will want a retirement home. You may want to expand your business, etc.
More soon.
1) Quit blaming others for your problems and failures. Accept full responsiblity for your life.
2) Start a business. Science and technology, including health sciences are two of the big fields to look into.
3) Think big. Chase big stuff, not little stuff. Sell things everyone needs or high end stuff the masses want. Acquire a list of customers and resell to them in the future.
4) Have a business model that is as simple as possible. Make sure your business plan is complete.
5) You will work long hours making your billions. Delegate the unimportant stuff. You need to do the important stuff, to make sure it is done right. Make sure your time is never watsed. Have an attorney review your business plan.
6) Study the business plans and annual reports of your competitors, or at least of your favorite, or similar companies. A degree in business goes a long way.
7) Start or join a mastermind alliance. You need to acquire specialized knowledge.
8) Be alert for financial predators. Consult your attorney.
9) Form an LLC or other corporation type at the start of your venture.
10) Back to your business plan. Make sure you have FAQs for customers, investors, employees, etc. You want a kid to be able to understand what you are selling.
11) Read the 4 Hour Work Week, by Tim Ferriss and Before You Quit Your Job, by Robert T. Kiyosaki. There is information in both books that will help you.
12) Improve and develop your products. Focus on creating and improving your products and the selling of them and avoid doing things that do not directly affect the bottom line.
13) Have a vision for your company. A good vision will keep all hard working employees motivated and will improve morale.
14) Look at the bottom line. How can you sell more? How can you cut expenses? Ask your self these questions. Do things that improve the bottom line.
15) Have a plan. When will you sell your business? Will you takeover another company? There are a lot of things you must plan for.
16) You need capital reserves. You need a golden parachute. You will want a retirement home. You may want to expand your business, etc.
More soon.
Thursday, October 8, 2009
Finding Foreclosure Deals Can Be Easy
It's been said that you make money not when you sell real estate, but when you buy it. What this means is that if you can buy a property at a good price you're virtually guaranteed a nice profit. One of the best ways to get a bargain price on a fantastic piece of real estate is to look for foreclosed properties.
If it were easy to make a fortune buying and selling foreclosures, everyone would be doing it. It takes a lot of work to find a potential deal in the first place and then usually requires some repairs before a house is ready to be rented or flipped. The first step is finding potentially profitable deals in the first place.
One way to find repossessed properties that need to be sold is to contact a number of local real estate agents. Some real estate agents specialize in REO's or "real estate owned" by banks or other lending institutions. It will take you some time but if you find a real estate agent that specializes in foreclosures they could bring you a good number of potential deals but no one real estate agent can provide you with all of the possible deals in your area and real estate agents will only have access to properties that have already been repossessed. Many times there are great opportunities to buy properties at bargain prices while the property is still in the foreclosure process.
The only way to find all of the potential deals in your area is to search the county records. County records are available to the public at no cost and hold a wealth of information for investors looking for a great deal. You can look for a notice of sale to tell you when a house will go up for auction. At the auctions, savvy investors snap up the best deals before they ever make it to a real estate agent that specializes in REO's. You can also look for a notice of default to find properties that are in pre-foreclosure and you may be able to find a great deal for a bargain property before that property even goes to auction.
While searching the public records is free, if you value your time it can be pretty costly. There is a huge amount of information to sift through in order to find the gems that you're looking for. Even if you know exactly what to look for it can still be a very time consuming and laborious process. Fortunately, there are companies that have employees that are constantly combing through public records and compiling exactly the kind of information that investors are looking for. For a small fee you can save yourself a tremendous amount of time and easily have access to more deals than you could ever hope to invest in.
Get home foreclosure listings and find foreclosed homes at huge discounts. Learn where to go to find local bank foreclosures, HUD homes, VA homes, IRS repos and more in your area http://www.smartcreditblog.com/foreclosure-lists.html
Article Source: http://EzineArticles.com/?expert=James_Ferris
If it were easy to make a fortune buying and selling foreclosures, everyone would be doing it. It takes a lot of work to find a potential deal in the first place and then usually requires some repairs before a house is ready to be rented or flipped. The first step is finding potentially profitable deals in the first place.
One way to find repossessed properties that need to be sold is to contact a number of local real estate agents. Some real estate agents specialize in REO's or "real estate owned" by banks or other lending institutions. It will take you some time but if you find a real estate agent that specializes in foreclosures they could bring you a good number of potential deals but no one real estate agent can provide you with all of the possible deals in your area and real estate agents will only have access to properties that have already been repossessed. Many times there are great opportunities to buy properties at bargain prices while the property is still in the foreclosure process.
The only way to find all of the potential deals in your area is to search the county records. County records are available to the public at no cost and hold a wealth of information for investors looking for a great deal. You can look for a notice of sale to tell you when a house will go up for auction. At the auctions, savvy investors snap up the best deals before they ever make it to a real estate agent that specializes in REO's. You can also look for a notice of default to find properties that are in pre-foreclosure and you may be able to find a great deal for a bargain property before that property even goes to auction.
While searching the public records is free, if you value your time it can be pretty costly. There is a huge amount of information to sift through in order to find the gems that you're looking for. Even if you know exactly what to look for it can still be a very time consuming and laborious process. Fortunately, there are companies that have employees that are constantly combing through public records and compiling exactly the kind of information that investors are looking for. For a small fee you can save yourself a tremendous amount of time and easily have access to more deals than you could ever hope to invest in.
Get home foreclosure listings and find foreclosed homes at huge discounts. Learn where to go to find local bank foreclosures, HUD homes, VA homes, IRS repos and more in your area http://www.smartcreditblog.com/foreclosure-lists.html
Article Source: http://EzineArticles.com/?expert=James_Ferris
Success is a Feeling
SUCCESS IS A CHOICE
I think there are a lot of people who would argue with me on that. They think success is something that happens to them, if they are lucky.
Some people consider themselves really unlucky and believe that success will never come to them. People who think of themselves as not being successful usually have plenty of reasons why. Perhaps it's because ............
* I don't live in the right location
* It's a consequence of the way my parents brought me up
* I haven't received the recognition I deserve
* the opportunities have just not been there for me
* ___________ won't cooperate with me * (you fill in the blank)
Just think for a moment - are these really reasons, or are they excuses? Do you know of ANYBODY who has succeeded despite "living in the wrong location"? Anybody who has succeeded despite the way their parents raised them? Anybody who has gone on to succeed despite not having gained recognition for their efforts? So are these things reasons why we can't be successful, or obstacles to be overcome on the way to success?
What is success anyway? Is it having a certain level of income, having a particular type of car, living in a fantastic house? A lot of people have those things but are not happy.
While success is usually tied to an achievement or a material acquisition, success is not the actual thing, but it is really the FEELING that those things represent. For example, you train hard, you win a race. You put the trophy on the shelf. Every time you look at it, you feel great. Is it the trophy itself that makes you feel great? No, it is the achievement it represents. You look at the trophy, remember what it took to win it and FEEL a success energy.
So if success is a feeling, then success is also a CHOICE. You can choose how you feel. (If you are not convinced of that it is another whole topic that I'm not going into right now.) If success is a feeling you can teach yourself to feel successful every minute of every day. Focus on your successes, build the success energy in your life. Remember that you get more of what you focus on, so more success will come your way.
CHOOSE SUCCESS, don't wait for it to magically happen to you.
Suzi Morris
My purpose and potential lie in in the area of personal development and coaching. My aim is to challenge, inspire, and inform. I want YOU to be the best that you can be and live life to the full. http://www.theSecret4success.biz
Article Source: http://EzineArticles.com/?expert=Suzi_Morris
I think there are a lot of people who would argue with me on that. They think success is something that happens to them, if they are lucky.
Some people consider themselves really unlucky and believe that success will never come to them. People who think of themselves as not being successful usually have plenty of reasons why. Perhaps it's because ............
* I don't live in the right location
* It's a consequence of the way my parents brought me up
* I haven't received the recognition I deserve
* the opportunities have just not been there for me
* ___________ won't cooperate with me * (you fill in the blank)
Just think for a moment - are these really reasons, or are they excuses? Do you know of ANYBODY who has succeeded despite "living in the wrong location"? Anybody who has succeeded despite the way their parents raised them? Anybody who has gone on to succeed despite not having gained recognition for their efforts? So are these things reasons why we can't be successful, or obstacles to be overcome on the way to success?
What is success anyway? Is it having a certain level of income, having a particular type of car, living in a fantastic house? A lot of people have those things but are not happy.
While success is usually tied to an achievement or a material acquisition, success is not the actual thing, but it is really the FEELING that those things represent. For example, you train hard, you win a race. You put the trophy on the shelf. Every time you look at it, you feel great. Is it the trophy itself that makes you feel great? No, it is the achievement it represents. You look at the trophy, remember what it took to win it and FEEL a success energy.
So if success is a feeling, then success is also a CHOICE. You can choose how you feel. (If you are not convinced of that it is another whole topic that I'm not going into right now.) If success is a feeling you can teach yourself to feel successful every minute of every day. Focus on your successes, build the success energy in your life. Remember that you get more of what you focus on, so more success will come your way.
CHOOSE SUCCESS, don't wait for it to magically happen to you.
Suzi Morris
My purpose and potential lie in in the area of personal development and coaching. My aim is to challenge, inspire, and inform. I want YOU to be the best that you can be and live life to the full. http://www.theSecret4success.biz
Article Source: http://EzineArticles.com/?expert=Suzi_Morris
Wednesday, October 7, 2009
The Genesis of Success - How Success is Achieved
You can read hundreds of success stories and the scenarios are always the same. The names change, the details are all different but the road that leads to success is always the same. There is only one and there are no shortcuts.
It all starts with having a very clear and definite outcome. Sylvester Stallone knew his outcome. He wanted to be a movie star. Donald Trump knew his outcome. He wanted the number one real estate developer. Arnold Schwarzenegger knew his outcome, he wanted to be the number one bodybuilder then become a movie star.
These are only three examples but we could cite thousands of success stories and they all start with a definite purpose - a clear outcome. We cannot achieve a goal that we don't have or reach a destination that is not known.
The path to success begins with a clear and precise objective, a definite goal, a very specific outcome. This point could never be stressed enough. People dream of success, they dream of achieving great deeds yet, they don't even have a clue as to what it is that they want to do.
Once the outcome is clearly defined, a plan or a strategy has to be established. As Sun Tsu writes in The Art of War, "Every battle is won or lost before it is ever fought." The same rule applies to goals and objectives seeking.
The game is won in the strategy room where the plans are made. The plan is the map that will lead to the objective. It is one of the most important tools in goal achieving yet it is also the most neglected.
People will spend more time planning a two weeks vacation than they will on planning an entire life. The we'll-see-as-we-go attitude is not good enough. No head of corporation, army general of head of state would ever dream of wigging it by ear and neither should we. A well thought off plan is absolutely necessary.
Once we have defined the objective and mapped out a plan, the crucial part comes in and that is massive action. This is truly the decisive part. This is where success or failure is spelled out. This is what separates the winners from the could-have-been.
Massive action implies exactly what the term says. People who have attained huge success are known to work long hours. They are dedicated, involved, passionate, focused, committed and determined.
There is a price to pay for achievement. That's a lesson that has not caught on. Instead of taking massive action, most people are looking for the secret formula that will perform miracles. Read the biography of every single successful person and that secret formula is nowhere to be found. It cannot be found for the simple reason that it does not exists.
The story of success is the story of hard work. No matter how talented or how charismatic a person is success requires work. So much work in fact that unless that work becomes a passionate game, chances are very slim that anyone could overcome the challenge.
The way to succeed is not all that complicated and it is certainly no secret. It requires a definite objective, a workable plan and a lot of hard work. That's how it's been done since the dawn of time and it does not look as if it's about to change.
Dr. Raymond Comeau aka Shamou is the Author of ShamouBlog and Owner Administrator of Personal Development for Personal Success Forums
Article Source: http://EzineArticles.com/?expert=Dr._Raymond_Comeau
It all starts with having a very clear and definite outcome. Sylvester Stallone knew his outcome. He wanted to be a movie star. Donald Trump knew his outcome. He wanted the number one real estate developer. Arnold Schwarzenegger knew his outcome, he wanted to be the number one bodybuilder then become a movie star.
These are only three examples but we could cite thousands of success stories and they all start with a definite purpose - a clear outcome. We cannot achieve a goal that we don't have or reach a destination that is not known.
The path to success begins with a clear and precise objective, a definite goal, a very specific outcome. This point could never be stressed enough. People dream of success, they dream of achieving great deeds yet, they don't even have a clue as to what it is that they want to do.
Once the outcome is clearly defined, a plan or a strategy has to be established. As Sun Tsu writes in The Art of War, "Every battle is won or lost before it is ever fought." The same rule applies to goals and objectives seeking.
The game is won in the strategy room where the plans are made. The plan is the map that will lead to the objective. It is one of the most important tools in goal achieving yet it is also the most neglected.
People will spend more time planning a two weeks vacation than they will on planning an entire life. The we'll-see-as-we-go attitude is not good enough. No head of corporation, army general of head of state would ever dream of wigging it by ear and neither should we. A well thought off plan is absolutely necessary.
Once we have defined the objective and mapped out a plan, the crucial part comes in and that is massive action. This is truly the decisive part. This is where success or failure is spelled out. This is what separates the winners from the could-have-been.
Massive action implies exactly what the term says. People who have attained huge success are known to work long hours. They are dedicated, involved, passionate, focused, committed and determined.
There is a price to pay for achievement. That's a lesson that has not caught on. Instead of taking massive action, most people are looking for the secret formula that will perform miracles. Read the biography of every single successful person and that secret formula is nowhere to be found. It cannot be found for the simple reason that it does not exists.
The story of success is the story of hard work. No matter how talented or how charismatic a person is success requires work. So much work in fact that unless that work becomes a passionate game, chances are very slim that anyone could overcome the challenge.
The way to succeed is not all that complicated and it is certainly no secret. It requires a definite objective, a workable plan and a lot of hard work. That's how it's been done since the dawn of time and it does not look as if it's about to change.
Dr. Raymond Comeau aka Shamou is the Author of ShamouBlog and Owner Administrator of Personal Development for Personal Success Forums
Article Source: http://EzineArticles.com/?expert=Dr._Raymond_Comeau
Friday, October 2, 2009
Modeling Your Way to Success
As a child, what were some of the things you saw your parents and the people around you do? Do you remember imitating some of those things, or do you find yourself even today behaving in the same manner? This behavior is called modeling.
Modeling is a conditioned behavior that we pick up from those we are closely associated with, beginning in our childhood days. Unfortunately most of those behavoirs no longer serve us. Ninety- nine percent of the time those learned habits are of a negative nature anyway and they seem to hold most people back.
Before any significant level of success can be achieved the negative habits must be transformed into positive and influential ones. The best and fastest way to accomplish this is by learning to model other successful people. It will require making some changes, and awareness is the first step toward change.
Become aware of what successful people are doing, hence, have done that allows them to live a wealthy lifestyle. Use that information to measure where you are with the things you are now doing. Modeling to success should be easy because as kids we learned everything from modeling others.
By studying what other successful folks have done, rather than branching out on your own, you can receive the same great results much easier. Success is a choice. There is no right time for it, so why not get motivated, inspired and start right now to create the lifestyle of your dreams. Take the actions to model your way to success.
Rena Williams resides in Florida as a Lifestyle Mentor and a successful entrepreneur. She delights in helping many achieve great levels of success through free mentoring and guidance. Get a free copy of the ebook that changed her life, by visiting http://www.yoursuccesscorner.com.
Article Source: http://EzineArticles.com/?expert=Rena_Williams
Modeling is a conditioned behavior that we pick up from those we are closely associated with, beginning in our childhood days. Unfortunately most of those behavoirs no longer serve us. Ninety- nine percent of the time those learned habits are of a negative nature anyway and they seem to hold most people back.
Before any significant level of success can be achieved the negative habits must be transformed into positive and influential ones. The best and fastest way to accomplish this is by learning to model other successful people. It will require making some changes, and awareness is the first step toward change.
Become aware of what successful people are doing, hence, have done that allows them to live a wealthy lifestyle. Use that information to measure where you are with the things you are now doing. Modeling to success should be easy because as kids we learned everything from modeling others.
By studying what other successful folks have done, rather than branching out on your own, you can receive the same great results much easier. Success is a choice. There is no right time for it, so why not get motivated, inspired and start right now to create the lifestyle of your dreams. Take the actions to model your way to success.
Rena Williams resides in Florida as a Lifestyle Mentor and a successful entrepreneur. She delights in helping many achieve great levels of success through free mentoring and guidance. Get a free copy of the ebook that changed her life, by visiting http://www.yoursuccesscorner.com.
Article Source: http://EzineArticles.com/?expert=Rena_Williams
Thursday, October 1, 2009
How to Get Rich Quick
Wherever you look these days you find promoters of 'get rich quick' schemes or motivational courses aimed at changing your mindset in a way that will supposedly, as if by magic, attract wealth into your life. While many of these schemes and courses have merit, often the wealth flows to the providers rather than to the participants. There are only two ways to get rich quick and I will mention these later. Let me start by saying that getting rich quick is like building a prefabricated house. Once you have a good foundation the construction is quick and easy. If your foundations aren't solid and straight you are likely to end up with something that could well fall down. Good financial foundations are made up of a strong asset base and a positive cash flow.
To have a strong asset base means owning assets such as property or investments which increase in value over time. The best measure of a strong asset base is the difference between the value of those assets and the amount of debt you have. It's all very well to own a million dollar property, but if you have a million dollars owing by way of mortgage and other debts then you really have no asset base at all. A good asset base will give you the ability to stay strong when things don't go according to plan.
Having a positive cash flow means that the income you receive on a regular basis from employment or your business is greater than what you spend on a regular basis. If you have a positive cash flow, then you have the power to add to your wealth over time.
Some people, particularly young people it seems, are impatient when it comes to building wealth. Too often I have seen people with high levels of debt, unable to save, but wanting advice on the investment of a small sum that has come their way as an inheritance or a windfall of some kind. Because they are struggling to get ahead financially, they want to invest their small sum in something that will multiply their money several times over. What they fail to realise is that investments which have the ability to multiply your money also have the ability to fail. In the worst case, you may lose more than you initially invest. Risking everything you have has much more dire consequences than risking a small part of what you have. The stronger your financial foundation, the more risk you can afford to take and therefore the quicker and easier it is create more wealth.
I mentioned earlier that there are two ways to get rich quick. The first is to borrow money to invest in property. The second is to invest in businesses - either your own or somebody else's. Both of these strategies require a solid financial foundation and two other key ingredients; time and expertise. Use the time while you are building your financial foundation to learn what you need to know to be a smart investor in property, shares and businesses and to put together a team of experts who can help you. Start slow, be strong, do your homework and riches will quickly follow.
Liz Koh is no ordinary financial planner. After a successful career in management spanning more than twenty years, Liz set up her own financial planning company - Moneymax - in 1999. Since then, her mission has been not only to help people manage their money and increase their wealth but also to help people enjoy their lives - to the max! Her list of clients continues to grow through word of mouth and she is a regular contributor to several top newspapers, magazines and websites. Liz is the author of the best selling book - Your Money Personality: Unlock the Secret to a Rich and Happy Life, Awa Press, 2008, available from http://www.awapress.com.
For Liz's best tips for financial security, visit her website http://www.moneymaxcoach.com to receive your free 8-part eCourse on "8 Steps to Financial Freedom".
Article Source: http://EzineArticles.com/?expert=Liz_Koh
To have a strong asset base means owning assets such as property or investments which increase in value over time. The best measure of a strong asset base is the difference between the value of those assets and the amount of debt you have. It's all very well to own a million dollar property, but if you have a million dollars owing by way of mortgage and other debts then you really have no asset base at all. A good asset base will give you the ability to stay strong when things don't go according to plan.
Having a positive cash flow means that the income you receive on a regular basis from employment or your business is greater than what you spend on a regular basis. If you have a positive cash flow, then you have the power to add to your wealth over time.
Some people, particularly young people it seems, are impatient when it comes to building wealth. Too often I have seen people with high levels of debt, unable to save, but wanting advice on the investment of a small sum that has come their way as an inheritance or a windfall of some kind. Because they are struggling to get ahead financially, they want to invest their small sum in something that will multiply their money several times over. What they fail to realise is that investments which have the ability to multiply your money also have the ability to fail. In the worst case, you may lose more than you initially invest. Risking everything you have has much more dire consequences than risking a small part of what you have. The stronger your financial foundation, the more risk you can afford to take and therefore the quicker and easier it is create more wealth.
I mentioned earlier that there are two ways to get rich quick. The first is to borrow money to invest in property. The second is to invest in businesses - either your own or somebody else's. Both of these strategies require a solid financial foundation and two other key ingredients; time and expertise. Use the time while you are building your financial foundation to learn what you need to know to be a smart investor in property, shares and businesses and to put together a team of experts who can help you. Start slow, be strong, do your homework and riches will quickly follow.
Liz Koh is no ordinary financial planner. After a successful career in management spanning more than twenty years, Liz set up her own financial planning company - Moneymax - in 1999. Since then, her mission has been not only to help people manage their money and increase their wealth but also to help people enjoy their lives - to the max! Her list of clients continues to grow through word of mouth and she is a regular contributor to several top newspapers, magazines and websites. Liz is the author of the best selling book - Your Money Personality: Unlock the Secret to a Rich and Happy Life, Awa Press, 2008, available from http://www.awapress.com.
For Liz's best tips for financial security, visit her website http://www.moneymaxcoach.com to receive your free 8-part eCourse on "8 Steps to Financial Freedom".
Article Source: http://EzineArticles.com/?expert=Liz_Koh
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