Weekly Podcast 1-08-10

A pipeline is, as you recall, a stream of income that once you have it set up you do not have to do anything but let the money roll in. A few pipelines that I have been working on lately are the card game that my wife and I invented and had mass produced in China and distributed all around the world and an iphone app. The most recent pipeline that I have been working on is the iphone app that is now up and running and generating income for me as I sleep. I can’t tell you how cool it is to get royalty checks. I often try to tell my students once you have a taste of a pure p1 pipeline it is addicting! Be careful! ? You may just make enough money to get everything you ever wanted and live happily ever after! I know that saying is from a movie but I can’t remember which one. Anyway, students often get stuck on the what and the how. What are they going to do and how are they going to make money with it. The first step is to really get to know yourself. Find your strengths and your weaknesses. Find what it is you are truly passionate about! Find a need that people have and YOU come up with the solution to the problem. Problem solving is a VERY BIG industry. Learn to be a good problem solver. When someone comes to you with a problem and complains about something. Instead of joining in, see if you can find the solutions to their problems. This can help you get in the pipeline mindset. Also, remember as Napoleon Hill taught, thoughts are things! You attract you have you become the things that you are thinking about. If you want a lifestyle of abundance and wealth start thinking about it NOW! Your thoughts today become your future tomorrow. What do you want your tomorrow to look like? You can have it if you have enough faith to get to work on the pipeline goals that you have. There is no looking back! Once you get a taste you are on a totally different level of consciousness. Good luck, and remember to start telling your mind all the things you do want instead of focusing on what you don’t. You will get what it is you are focusing on. Focus on PIPELINES! God Bless

This weeks class we went through some of the things that all of us need to remember on a weekly basis. It can be so easy to get distracted and off track. If you attend my weekly classes, you will be reminded of the things that you need to do to be successful. We also covered a new way of thinking for 2010. I am so excited for my students and all the opportunities that are out there for each and everyone of the that are willing to dream BIG and have enough faith in that dream to work hard and make it a reality. For 2010 may we remember what we learned as children, that anything is possible! I am so excited about the things that are going on in my students’ lives. Those that live up to their commitments to truly live the program will see success in this New Year. Do I think that there will be some bumps in the road? Absolutely, but my students understand that with each bump that comes they hyper focus on the task at hand. They understand that the adversity that they go through in life only makes them stronger. If we truly believe that, then bring on the adversity bring on the challenges because we will win the fight and be victorious all because we believed therefore we achieved. Make it a habit weekly to attend the classes each week and go over your own personal checklist for success. Let’s make this New Year the best financial year of our LIVES!!!

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!

Over time I have noticed a correlation between those that keep stuff that they do not need and people having problems with debt. What is a pack rat you may say? Well if you answer yes to the following questions you may be a pack rat.

Do you still have three toasters you have never used, from your wedding?

Do you have more than one lawn mower?

Do you park your car outside of the garage to make room for your stuff?

Do you buy stuff and never end up using it?

Do you have HSN and QVC boxes that have never been opened?

Do you pay insurance on a vehicle that you are not using?

Why do people keep stuff even when they do not use it? Some people have emotional attachments to stuff. It is like a security blanket. How can you overcome being a pack rat?

Sell, Sell, Sell

You can sell your unused stuff and de-clutter and organize your life through selling on eBay and craigslist, or by having a yard sale. And of course you can donate it and use that on your next year’s taxes.

Set rules and guidelines to overcome being a pack rat. If you have not used it in the last 6 months, get rid of it! Remember, in the end you cannot take any of it with you, it is all just stuff. Living a clutter free life can help you jump start you debt elimination plan. Make this your own personal stimulus package by generating extra cash with unused items!

For majority of Americans their retirement will depend largely on their stock investments. Many shy away from learning about the stock Market  because it is “too scary and complicated”. In this age of information there are plenty of opportunities to learn what you need to know in order to be an effective investor. There are websites that will help you with definitions and websites that will teach you investment basics. The last thing that we want for any of our students to do is blindly follow the advice of a financial professional. I believe that having the advice of competent professionals is important but at the end of the day it is your money and you have the final decision on what happens. Your investments are YOUR responsibility! Never fall into the trap of following the advice that I have heard from some advisers and that is “just trust me” I know what I am doing. That is great that they know what they are doing, but their job is to explain to you what they are doing so you too can participate in the decision making process. It is time to take a more active approach to investing.

There is a way to simplify your investment strategy and that is to invest in the whole market. Getting into something like an Index Fund can greatly reduce your expenses.

What is the big deal about expenses when it comes to investing? In a recent article, I was amazed to see that a two percent savings on investing expenses increased an investor’s return by about 60 percent over the life of the investment.

Investing like paying down your debts takes a consistent mindset. Slow and steady wins the race! Make sure you are well informed so you can make the calls with the help of professionals and not blindly follow what they recommend! Listen to this weeks call on the stock market to get started on learning the basics of stock market investing!

EBay is one of the quickest ways that I know of for the average person to make some extra money. You will want to start out by selling some things that you have around the house. Try to come up with at least 10 things that you could put on eBay. Commit to getting started immediately. Successful people are also consistent action takers. My students hear me say this constantly. It is important to do and not only learn. There are a lot of people that listen to my seminars and read the books that I recommend. If after learning and obtaining all of this information and you are not seeing the results that you would like to see it is most likely because of a lack of action. So get out there this week and sell some things on eBay.

Don’t make the usual excuses for not doing things like I don’t have the time. When was the last time that saying “I don’t have the time” make you money. Saying that never, and it never will make you money, the only thing that is going to help you to become more prosperous is action. There is a wealth of information on eBay that can help you get started with making money on that website. Simply go to ebay.com and in the top right corner you will see the help tab and a menu item called the learning center. This will teach you what you need to know to get started and at least sell a few items. Make sure that you listen to this week’s conference call. I cover Drop shipping, buying in bulk, shipping costs etc… Remember the assignment this week is to get at least one item posted on eBay. Make it happen, and be ready to share your experience with the class next time we meet!

What causes inflation? There are two main things that impact inflation and that is the money supply and velocity. Money supply is how much money is in the system. With all the government spending that has been going on to prop up the failing economy there is plenty of money out there. The money supply has more than doubled. The Fed’s balance sheet went from 928 Billion to 2.1 trillion dollars in a very short amount of time. So, why are we not seeing inflation yet? The answer to that is the second cause of inflation and that is the velocity, or how fast is money exchanging hands. There are basically three reasons that we are not seeing inflation yet.

1. Banks are not lending

If you have tried to get a loan recently, you have probably seen that credit is harder to get. Many banks almost died and are now on life support, also known as, the tax payer’s money. After experiencing this near death experience many banks are a bit nervous about extending credit to a consumer that is struggling to get by.

2. The unemployment rate.

Unemployment is at levels we have not seen since the 80s it and if you include people that have stopped looking for jobs and part time workers, that number is actually higher. Unemployment is currently at about 10 percent.

3. Consumers are not spending money

Many people have seen their home and stock values drop like a rock. People are still a bit nervous about spending money.

These three things are holding inflation down. What will happen once the economy starts to recover and these three factors change? Once those three things start to happen? We will see inflation. The Federal Reserve could cut back on the supply of money in the economy to slow down inflation but that would also slow down the recovery.

I want you to take a minute and write and answer to the following questions:

Why is debt a form of bondage?

What would happen to a business if they did not know how much money was coming in its doors and out its doors?

What would happen to you if you did not know what was coming in and going out?

Why is it such a big deal that you track every penny that comes in and goes out?

What is the spending compass and how can it help you?

What does cash flow mean?

What is the equation for Net Worth, and why is it important?

These are all great questions that I want you to ponder and then write down your answers on a piece of paper. After you have all of your answers down, I want you to listen to the audio 10-06-09 and review your answers again to make sure that they line up. Make sure you are consistently doing the small things. Those seemingly small things add up to the big successes! Make it happen NOW!