Let’s all make sure to accentuate the positive next year!

We had a wonderful conference call this week. Special thanks to all those that participated and for the two students that shared their success stories with all of us. I want to share just a few thoughts as we wind down this year. I have studied the mind and how it works and how having the right mindset can in fact change your destiny. It is my hope that all of my financial students realize the power that they have within them. I know that each of you can do and become and have anything that you want in life. You just need to believe it and have the faith that it will happen and then go to work. Work is going to be your ticket to financial success it always has been that way and it always will be. Work can be a fun thing. I would like each of my students to remember that I am not talking about working harder what I am talking about is working smarter. Find your pipeline in 2010. Stop spending your time on all those darn buckets. If you do not know what a pipeline is and what a bucket is with respect to personal finance, listen to this week’s audio class and you will learn what it means. There are ways of getting things done without having to sacrifice mind, body, and soul to make a buck. Find your passion in 2010! Do not let anyone or anything stand in the way of you becoming successful. How successful you decide you want to be is entirely up to you! Ignore all the negative influences that you do not want in 2010 and start to focus on what it is you do want! You can and will succeed in 2010! Thanks for staying tuned!

Starting a business for most people can be very overwhelming. What is the best advice I can give that would help you to overcome the pitfalls that so many small business owners fall into?   There are a few things that can greatly help you along the way.

Pick the correct business entity. I would recommend getting professional help with this. There are many small business lawyers that specialize in start up businesses. Find one by asking around.

You must know your numbers. Knowing and being financially literate is a big part of running a business. Knowing how to read an income statement and a balance sheet is vital to your success. The numbers will give you an idea of the health of your company.

Cash is king. Your cash flow is the most important part of your personal financial health. It is no different with a business CASH IS KING. Watch your pennies and make sure that you business is bringing in more than it spends. That may sound simplistic but that is the truth. Many companies stop watching the small things and those small things can come back and haunt your business.

Do what it is you are passionate about! Stop thinking of ways to make more money. Focus first on what it is you are passionate about, then ask yourself the question, how can I make money with this passion?

There is a great website for those wanting to learn the basics of starting a business. The website is www.startupnation.com. Good luck!