#1 How to Get Rich & Wealth Creation Secrets

Retirement Planner – Retirement Planning: The Amazingly Simple 5Ws (and 1H) Formula

2010-08-26T03:03:00.000-07:00

Are you, like countless millions of others, so-called “planning your retirement” i.e. crossing your fingers and hoping your nest egg will provide for you during your golden years but really not sure if it will?

Whether you’re 35 or 55, don’t fool yourself into thinking that building a nest egg and dreaming of walking off into some kind of ‘retirement sunset’ is retirement planning, it’s not.

Check out this amazingly simple and helpful 5Ws (and 1 H) formula of retirement planning.

The 5Ws (and 1H) Formula of Retirement Planning

The 5Ws (and 1H) retirement planning formula will allow you to start formulating a “who, what, when, where, how and why” mental picture and corresponding plan of action for your retirement.

Who – Who are you going to spend your retirement with?
What – What is the minimum monthly income you will need to cover your likely expenses?
When – At what age would you ideally like to retire?
Where – Where are you going to spend your retirement?
Why – Why do you want to retire anyway?
How – How will you generate income during your retirement?

Read More about The Retirement Planning 5Ws (and 1H) Formula...

Having Something to Retire To
Don't simply retire from something; have something to retire to. In addition to planning your retirement income you must also plan your retirement activities...Read More

Retire from Work, But not from Life!

Retirement doesn’t have to mean you have to spend the remainder of your days on the golf course and nights as preferred babysitter to your grandchildren! How

If you’re serious about retirement planning then why not sign up NOW for more insider secrets on Retirement Planning at www.MillionaireMindsetSecrets.com for FREE. In addition, you’ll discover more about how to build wealth and income using clever savings and investment strategies at www.MillionaireMindsetSecrets.com for FREE.

Retirement Planner – Cat Food or Cavier?!

2010-08-26T03:02:00.002-07:00

In my previous posts I reviewed the need for a good retirement planning as well as the different retirement planners and options. To continue my thoughts, today I will be reviewing the different standards of retirement income e.g. having retirement plan is not the end of the work, making sure that retirement plan will be adequate to your needs in your late years is what matters more.

Cat Food or Caviar!?

A standard employer-sponsored retirement savings plan such as a 401(k) is the mainstay in most financial retirement plans.

Individuals can utilize a standard IRA or Roth IRA also. Many self-employed people opt for a Self-Directed 401(k). Relying on a standard retirement savings plans will prove unsatisfactory as it generally will fall way short of your retirement income needs. However, faced with a choice of having a standard retirement savings plan (e.g. a 401(k), standard and non-standard IRAs etc.) versus having no retirement savings plan at all, I would definitely prefer to have even a standard 10% of my earnings invested in standard retirement plan than in nothing at all. If nothing else it’s a good habit to “save and invest” a % of your income. However, unless you are putting away large chunks of cash into your retirement plan, it alone is probably not going to give you more than a lower-middle class lifestyle during your retirement.

Typically, if your retirement income needs are modest, social security benefits may provide 20-30% of your retirement income whilst employee-sponsored retirement plans may provide 20%. Therefore, it is your personal savings and investment strategies that will be the key differentiators between you living off cat food or caviar!

If you’re serious about retirement planning then why not sign up NOW for more insider secrets on Retirement Planning at http://www.MillionaireMindsetSecrets.com for FREE. In addition, you’ll discover more about how to build wealth and income using clever savings and investment strategies at www.MillionaireMindsetSecrets.com for FREE.

Related Posts:

Retirement Planner – Don’t Plan Your Retirement Until Your Read This First!

Retirement Planner – No Job, No Stress, No Pay!

Debt Reduction - Amazing Little Known Secrets about Eliminating Debt

2010-08-26T03:02:00.001-07:00

For many people their job-description becomes their self-description and so when they retire from work they can feel worthless and wither away fast. To cap things off, many retirees at 65 die within 2 years of retiring. Jeez, what an anti-climax! It’s no wonder people don’t bother planning their retirement!

No Job, No Stress, No Pay!

A popular rule-of-thumb claims you need roughly 70% of your pre-retirement income (90% if you wish to maintain your pre-retirement standard of living). Work-related expenses will decrease whilst health care, leisure-related expenses increase. This assumes you’re in relatively good health and medical care costs are modest. If your health is poor your health care expenses will escalate.

Financial security during retirement is probably priority no. 1 for most people. To live securely and comfortably in retirement for many people means at the very least generating sufficient income passively by means of some retirement savings plan or other financial assets to allow them to live according to their usual standard of living.

There are 4 typical sources of retirement income:

Social security benefits
Employer-sponsored retirement plans
Post-retirement employment income
Personal savings and investments

Whilst you may be diligently putting away for your retirement, the real challenge is to know your retirement income needs way before you ever want to retire. Try one on the many retirement income calculators available online to work this out.

When calculating the expenses you will have in retirement, keep in mind that they are in today's dollars. To get a better idea of what they will be when you are ready to retire, you should adjust them for inflation. A current income need of $20,000 per year adjusted by 4% inflation year on year translates to a requirement of $43,800 per year 20 years later.

To the readers: What is your preferred retirement plan? Share in the comments below

Related Posts:

Retirement Planner – Don’t Plan Your Retirement Until Your Read This First!

Retirement Planner – Cat Food or Cavier?!

Retirement Planner – Don’t Plan Your Retirement Until Your Read This First!

2010-08-20T01:37:00.000-07:00

No one disagrees that retirement planning is a good thing yet many people fail to take time to plan. If there is a retirement plan in place, it has often been left till the last minute, maybe even just a few years before retirement. This article offers an outlook on retirement planning that may shock some of you.

If you love doing what you’re doing you’ll most likely never want to retire. It’s often said that most of the wealthiest people in the world still work in their own companies not because they have to but because they want to and enjoy it. However, I bet you they all have retirement plans folded away neatly in their back pockets.

Retirement Planner - No Job, No Stress, No Pay!
Financial security during retirement is probably priority no. 1 for most people...Read More in my next post

Retirement Planner - Cat Food or Caviar!?
Relying on a standard retirement savings plans will prove unsatisfactory as it generally will fall way short of your retirement income needs. However... Read More in my next post

P.S. If you’re serious about retirement planning then why not sign up NOW for more insider secrets on Retirement Planning at www.MillionaireMindsetSecrets.com for FREE.

In addition, you’ll discover more about how to build wealth and income using clever savings and investment strategies at www.MillionaireMindsetSecrets.com for FREE.

To the readers: What is your preferred retirement plan? Share in the comments below :)

Property Investing Secrets - Leverage

2010-08-20T01:36:00.000-07:00

The leverage you get when owning a property is one of the 5 features that make property investing the IDEAL investment.

IDEAL is an acronym for the 5 main features of property investing that make it so attractive to investors worldwide:

In my previous posts I reviewed the first four features (see above), today I want to discuss the Leverage which an investment property can be for you so that you can increase your ability to borrow more money for future investments.

Property Investing - Leverage

Leverage is the principle of using a small amount of your own money to control a large value asset. One of the unique aspects of real estate over other investment classes is your ability to borrow up to 80% or 90% of the purchase price of the asset. This is leverage i.e. using Other People’s Money (OPM).

If you’re serious about property investing then why not sign up NOW for more insider secrets on Investing in Property. You’ll discover more about how to build wealth using real estate investing and other wealth building strategies atwww.MillionaireMindsetSecrets.com for FREE.

Related Posts:

Property Investing Secrets – Why Property is the IDEAL Investment

The IDEAL Investment – Property Investing Income

The IDEAL Investment – Property Investing Depreciation

The Ideal Investment – Equity Build Up & Expenses

Property Investing Secrets – Appreciation

Property Investing Secrets - Appreciation

2010-08-20T01:35:00.000-07:00

Why property investing is considered the IDEAL investment?

IDEAL is an acronym for the 5 main features of property investing that make it so attractive to investors worldwide: Income, Depreciation, Equity Build Up & Expenses, Appreciation, Leverage.

In my previous posts I reviewed the first two of the 5 features that make property investing the IDEAL investment: Property Income, Property Depreciation and Equity Build Up & Expenses

Property Investing - Appreciation

Your asset should appreciate in value over time. Often the largest part of a return on an investment in real estate is in the appreciation in the value of the asset and the resultant gain in equity.

Property prices can sometimes reduce in the short term due to changes in demand, access to finance, etc. but over the long-term you will benefit from appreciation.

Related Posts:

Property Investing Secrets – Why Property is the IDEAL Investment

The IDEAL Investment – Property Investing Income

The IDEAL Investment – Property Investing Depreciation

The Ideal Investment - Equity Build Up & Expenses

Property Investing - Equity Build Up & Expenses

2010-08-20T01:34:00.000-07:00

IDEAL is an acronym for the 5 main features of property investing that make it so attractive to investors worldwide: Income, Depreciation, Equity Build Up & Expenses, Appreciation, Leverage.

In my previous posts I reviewed the first two of the 5 features that make property investing the IDEAL investment: Property Income & Property Depreciation.

Today I want to talk about Equity Build Up & Expenses.

Property Investing - Equity Build Up & Expenses

As you pay down the principle of the mortgage loan you are gradually building up your equity stake in the property. So, even if there is no increase in the value of the property over the term of the loan you still end up with an asset with 100% equity at the end of the mortgage loan term.

Expenses such as property management fees, maintenance, insurance, mortgage interest etc., are deductible from the rental income, thereby reducing your tax liability.

The IDEAL Investment – Property Investing Depreciation

2010-08-20T01:33:00.000-07:00

Property Investing Secrets: Depreciation

In my previous posts I started explaining why property investing is widely considered the IDEAL investment, IDEAL standning for the 5 main features of property investing that make it so attractive to investors worldwide.

In the last post I spoke if I for Income, today's post is about D for Depreciation.

A rental home is seen as a depreciable asset just like a car or piece of factory machinery. Rental properties with positive cash flow can show an accounting loss, granting the owner a tax deduction, or, as Robert Kiyosaki calls it, “Phantom Cash Flow”.

Depreciation is an accounting loss and only shows up on paper.

It can result in you being able to turn a small economic profit into a small tax loss. So, even though you could be “loosing” money on paper you could actually be making a monthly cash profit.

The building value (Purchase price - Land Value = Building Value) of residential property is usually depreciated over 27.5 years. Commercial property is usually depreciated over 39 years.

The IDEAL Investment - Property Investing Income

2010-08-20T01:32:00.000-07:00

As a young investor you may be more focused on the rise in capital value; whereas someone in their golden years can be more focused on generating income. Property is one asset class that does both, rising in value and generating income. It is often referred to as the “IDEAL” investment.

“IDEAL” is a simple acronym that highlights just some of the key benefits of owning real estate:

Property Investing: Income

One of the key benefits of property investment over many types of investments is its inherent ability to generate passive income. When investing in property the key thing is to focus on net income. Many real estate agents will quote gross yield figures i.e. the annual rent as a percentage of the property price. Whilst this is a reasonable indicator of your potential return on investment, I prefer to focus on net yield or net income. You absolutely must have net positive cash-flow otherwise you haven’t got an investment on your hands but a burdensome liability. The challenge in property investment is to minimise the down payment (which will maximise your mortgage) whilst at the same time generating positive cash flow each month.

To the readers: Do you get a good net income from your property investment? What are the main things to consider when investing in a property? Looking forward to your comments!

Property Investing Secrets – Why Property is the IDEAL Investment

2010-07-28T08:40:00.001-07:00

So, you’re thinking of investing in property but aren’t sure of how to take advantage of this powerful investment asset. Here I have revealed some of the secrets that experienced property investors have known for years that can make property the “IDEAL” investment.

“IDEAL” is a simple acronym that highlights just some of the key benefits of owning real estate:

I - Income

D - Depreciation

E - Equity Build Up & Expenses

A - Appreciation

L - Leverage

Stay in touch & learn more about each of the above in my next posts.

By fully understanding and utilising these characteristics of property investing you can take advantage of this powerful investment asset to build wealth quickly and get rich fast.

Debt Reduction - Debt Snowball vs. Debt Avalanche

2010-07-15T07:23:00.001-07:00

Is Debt Snowball Better Than Debt Avalanche?

There are a few different debt reduction techniques that are very popular amongst which are the so called "debt snowball" and "debt avalanche" debt reduction methods.

There’s a lot of debate over whether debt snowballing is better than other techniques such as the debt avalanche debt reduction method (paying the highest interest rate loan first).

Debt snowball is the debt reduction technique of paying your loans by starting from the smallest debt and working your way up to the biggest one, like rolling a snowball. When the first loan is paid in full you allocate the payment from this first loan to the next highest one. As each loan gets paid, the pay down amount getting applied to the next largest one gets larger each time – hence the term ‘debt snowball’.

(Read more about debt snowballing here)

Debt avalanche is the debt reduction technique of paying off the loan with highest interest and then moving down to the debt with the next higher interest and so on.

Which technique would be better to choose If you are really serious about getting gout of debt?

The mathematics favor the debt avalanche, the psychology favors debt snowballing.

Should you have a $2,000 balance at 10% interest, and a $6,000 balance at 18% interest, it would make no financial sense to focus on paying off the lower amount first. So when there are large differences in the interest rate on each account then the snowball method would not make the most financial sense.

People with more financial discipline can make quicker headway by paying off the loans with the higher interest rates first. However, attacking the smallest loan first, whilst still maintaining minimum payments on everything else is a great strategy so long as you follow through on the plan and step up to the next smallest loan each time and knock those loans on the head for good!

If you’re serious about eliminating debt, creating wealth and achieving financial freedom then why not sign up NOW for more insider secrets on debt reduction at www.MillionaireMindsetSecrets.com for FREE.

To the readers: Which debt reduction technique would suit you better: debt snowball or debt avalanche?

Debt Reduction - Debt Snowball & Retirement Plans

2010-07-15T06:56:00.001-07:00

Should One Make Retirement Contributions During the Debt Reduction Process?

In my previous post Debt Reduction – The # 1 Way of Eliminating Debt!? I reviewed the debt snowball technique for debt reduction as one of the most popular way to eliminate debt.

The reason it’s named ‘debt snowball’ is because you start with the smallest debt and work your way up to the biggest one, like rolling a snowball. When the first loan is paid in full you allocate the payment from this first loan to the next highest one. As each loan gets paid, the pay down amount getting applied to the next largest one gets larger each time – hence the term ‘debt snowball’.

With debt snowball technique for debt reduction arises the dilemma whether to make retirement contributions during the debt reduction process or not since the idea is to use all free capital for the debt reduction plan.

Some financial advisors argue that all contributions are to be put on hold during the debt snowball, thus freeing up more money to make payments. However, if this is the case, it is recommended that retirement contributions should not be put on hold for more than 2 years. Others dispute this practice, citing the cost of compounding interest to be greater than the gains made from paying off debt. It’s really your call to make based on your financial priorities.

To the Readers:

Would you make retirement plan payments while trying to reduce your debt through debt snowball?

Debt Reduction - Eliminate Debt The Snowball Way - Steps 4-6

2010-07-15T06:55:00.001-07:00

In my previous post i reviewed the first 3 steps of the very popular debt reduction technique known as the debt snowball.
The first three steps in using the debt snowball technique to eliminate all your debts were:

Debt Snowball Step #1: List All Your Debts Starting with the Smallest Balance

Debt Snowball Step #2: Only Pay the Minimum Amount on Each Debt

Debt Snowball Step #3: Make Extra Payments on the Smallest Debt
The next steps are:

Debt Snowball Step #4: Once the Smallest Loan is paid in Full, Celebrate!

I don’t think this step needs much explanation! Needless to say don’t use any additional lines of credit to pay for your celebration!

Debt Snowball Step #5 Tackle the Next Smallest Loan

Now that the smallest loan is paid in full, you add the old minimum payment (plus any extra amount you were paying) from the first loan to the minimum payment on the second smallest one, and apply this new sum to repaying the second smallest.

Debt Snowball Step #6: Repeat Until All Debt is Paid

Repeat the process with each subsequent debt. In theory, by the time the final ones are reached, the extra amount paid toward the larger debts will have grow quickly, similar to a snowball rolling downhill gathering more snow (thus the name).

Note: A first home mortgage is generally not included in the debt snowball method, but is instead paid off as part of a larger financial plan. Many financial plans recommend pay off home mortgages in a later step, along with any other debt which is equal to or greater than half of one's annual take-home pay.

Debt Reduction – Eliminating Debt The Snowball Way -Steps 1 - 3

2010-07-15T06:46:00.000-07:00

There are many different ways to eliminate debt.

One very popular technique is known as the debt snowball.
These are the first three steps in using the debt snowball technique to eliminate all your debts and be financially free.

Debt Reduction Step # 1: List All Your Debts Starting with the Smallest Balance

List all your loans starting with the smallest balance first and ending with the largest balance. Credit cards, personal lines of credit, bank loans, student loans, car loans, 2nd mortgages (yes that’s debt too), home equity lines of credit, overdraft credit lines are all included. The most distinctive feature of the debt snowball strategy is that the order is determined by amount owed, not the rate of interest charged. However, if two debts are very close in amount owed, then the one with the higher interest rate would be moved above in the list.

Debt Reduction Step # 2: Only Pay the Minimum Amount on Each Debt
Find out from each lender what the smallest payment you can make on each loan is and only pay this minimum monthly payment. The reason you pay only the minimum amount on all other loans each month is so you can quickly pay off the smallest one first and not have to unnecessarily struggle to pay off all the others simultaneously.

Debt Reduction Step # 3: Make Extra Payments on the Smallest Debt

For the smallest amount owed you determine how much extra you can pay off whilst maintaining minimum monthly payments on the others. (It is this step that differs with other debt reduction strategies, focusing on paying off quickly the smallest amount owed rather than the amount with the highest interest rate)

Read more about the next steps in my following post.

If you’re serious about eliminating debt, creating wealth and achieving financial freedom then why not sign up NOW for more insider secrets on debt reduction at www.MillionaireMindsetSecrets.com for FREE.

Debt Reduction – The # 1 Way of Eliminating Debt!?

2010-07-09T06:31:00.001-07:00

Reducing Debt is a No. 1 priority for anyone who wants to be financially free

There are a few different debt reduction techniques that are very popular. Here we examine one ultra-simple technique known as the ‘debt snowball’ method and ask whether it is the # 1 method of eliminating debt?

There are many different strategies for getting on top of debt. One popular technique is known as the debt snowball. The reason it’s named ‘debt snowball’ is because you start with the smallest debt and work your way up to the biggest one, like rolling a snowball. When the first loan is paid in full you allocate the payment from this first loan to the next highest one. As each loan gets paid, the pay down amount getting applied to the next largest one gets larger each time – hence the term ‘debt snowball’.

The reason this method is so popular is that paying the smallest debt off first gives you a quick win early on, giving you momentum and so you are more likely to stay with the plan.

Below are the steps to applying the debt snowball technique for eliminating debt:

Debt Reduction Step # 1: List All Your Debts Starting with the Smallest Balance

Debt Reduction Step # 2: Only Pay the Minimum Amount on Each Debt

Debt Reduction Step # 3: Make Extra Payments on the Smallest Debt

Debt Reduction Step # 4: Once the Smallest Loan is paid in Full, Celebrate!

Debt Reduction Step # 5: Tackle the Next Smallest Loan

Debt Reduction Step # 6: Repeat until all Debts Are Paid

Read more on all this steps in my next blogs.

The power of the debt snowball is in the momentum you obtain as you eliminate each debt. As well as that there’s the financial power you get from applying payments from previous loans onto the next ones, snowballing your payments. If you’re serious about eliminating debt, creating wealth and achieving financial freedom then why not sign up NOW for more insider secrets on debt reduction at www.MillionaireMindsetSecrets.com for FREE.

Wealth Building - How Rich is Rich?

2010-06-29T03:51:00.001-07:00

It’s actually quite hard to define in a dollar amount what rich is.

We often say so-and-so is rich because he or she has a high-income corporate job, buys brand new luxurious cars, dresses in fancy clothes and so on.

Although these are outward demonstrations of ‘rich’, crucially, that does not mean these people are wealthy (they might very well be of course but it’s not a given).

It’s actually quite hard to define in a dollar amount what rich is. It can be subjective and mean different things to different people. In addition, it can depend on where you live and the cost of living in that place. In 2003 Gallup poll of Americans the public's median definition of "rich" was an income of $120,000 - or assets of $1 million. But if you ask someone who already has $1 in assets they are likely to say being rich would be to have $5 or $10 million in assets. Some people are never happy!?

If you are rich, don’t be fooled into thinking you’re wealthy. If you’re not already rich, don’t worry about it, focus on being wealthy and you will be rich anyway. Whilst it may be difficult to know if you are truly “rich”, you’ll definitely know if you’re truly wealthy and for how long!

Discover some fast wealth building strategies and tips at www.MillioniareMindsetSecrets.com

To the Readers: How rich is rich for you? - share your personal view in the comments bellow : )

Wealth Building - Is “Rich” a Feeling?

2010-06-29T03:49:00.000-07:00

Feeling rich is completely subjective.

In a way being rich is a feeling and you probably never think you’re truly rich or as rich as you could be.

Someone making $30,000 per annum will probably say that if they made an income of $100,000 they would see themselves as ‘rich’. How someone defines rich depends on their expectations and how they feel about it.

So the less money you have, the less money you think you'll need to become rich. And the wealthier you are I suspect the more money it takes to make you ‘feel’ rich. This is why very often the "rich" aren't feeling so rich.

As Mark Victor Hansen famously says: "The feeling of rich makes you rich. The feeling of poor makes you poor." It's is not the vice verse!

Discover some fast wealth building strategies and tips atwww.MillioniareMindsetSecrets.com

To the readers: Do you feel rich? If not, what do you need in order to feel rich? (share in the comments below)

Wealth Building - Better to Be Wealthy Than Rich

2010-06-22T09:22:00.001-07:00

If you are a millionaire, are you by default wealthy?

If you strive to build wealth rather than just get rich you’re basically giving yourself the keys to the vault!

There’s a massive difference between being wealthy and being rich. Not all rich people can be wealthy but all wealthy people can be rich. Confused!?...let me explain.

If you are a millionaire, are you by default wealthy?... Ahmm, not necessarily so.

A millionaire by definition is someone whose net worth (asset value minus debt) exceeds a millionaire dollars/euros etc. However, if a person did have 1 million in assets but theses assets were not generating income then that person by my definition is rich but not wealthy.

These questions explain will help you get a better understanding of wealth and what is the difference between rich and wealthy - have a guess and let me know what do you thinks on each of them in the comments area below.

I will talk more on each of them in my next posts.

Why Making Money Won’t Make You Rich?
How Rich is Rich?
Is “Rich” a Feeling?
How to Best Measure Wealth?

Strive to build wealth rather than focus on being rich. You can build wealth by starting or running a profitable business, investing in real estate, etc. The key thing is to focus on generating future income from these assets. Now you are creating wealth. Discover some fast wealth building strategies and tips atwww.MillionaireMindsetSecrets.com

Business Startup Mistake # 2 – Not Choosing the Right People

2010-06-18T03:31:00.000-07:00

Business Stratup - Failure or Success

That depends on whether or not you will avoid the two biggest mistakes that most business startups are bound to face:not creating a business system and not choosing the right people to implement the system.

A system without the right people to manage it is like a ship manned by drunken sailors, unmanageable and destined to hit the rocks. Choosing the right kind of people to manage a system is essential and will maximise your chances of success. Interviewing and selecting people is going to be a key part of your job as a business owner.

If both the system and the people building the system are flaky then the chances of failure are great.

Once you have selected the right kind of people,the work doesn’t stop there. You will be required to manage and lead your people often at the same time - motivating, monitoring, measuring and rewarding.

Motivation is an art, measurement is a science, monitoring is a skill, rewarding is fun! People are generally motivated by personal reward which in general takes the form of financial remuneration, job security etc. However, the best form of motivation is giving someone a simple compliment. And it doesn’t cost you a dime. Being genuine and saying something as simple as “well done, I like how you did that job” will do more for motivating your people and strengthening your business than any amount of cash reward.

In my view, your people are your biggest asset, not your customers. Properly motivated and managed people will crawl over broken glass for a good quality organisation with good leadership. Indeed, for the business owner, unlocking people’s potential is an extremely gratifying experience.

Finding the sweet spot between personal reward and organisation benefit is the key to success.

Find out more business startup success secrets at www.MillionaireMindsetSecrets.com for FREE and get access to a wealth of resources to help you build and grow your business.

Business Startup Mistake # 1 - Not Creating the Business System

2010-06-18T03:29:00.000-07:00

Starting a business throws up many opportunities and challenges on a daily basis.

You are both head chef and chief bottle washer; creating the vision, devising your sales and marketing strategy, raising sufficient finance to fund the businesses growth etc. Now, add devising a whole business system into the mix and you’re gonna be knee-deep in a whole lotta challenges.

One way of looking at is asking yourself would you be better off investing time and money into building a pipeline(i.e. a system) rather than hauling buckets (i.e. no system). A lot of entrepreneurs have not worked in large systemised business or franchise operation before so they find it very testing and almost impossible to devise and implement a business system. Most small businesses are therefore hauling buckets.

The whole purpose of creating a business system is to allow you tocreate a business that will quickly run itself without your own day-to-day involvement. For most small business owners this is merely a pipe dream. The reason this happens is that not enough time is invested up front devising the systems to run the business. So avoid the mistake that 99% of self-employed business owners.

Read The E-Myth by Michael Gerber to help your find out more about what’s involved in creating your own business system. Finally, rather than trying to build a business system you may want to consider buying a franchise instead.

Educating, training and mentorship is widely available to help you avoid making these typical startup mistakes. But, what could you right now do to avoid these 2 typical small business startup mistakes? Well, help is only a mouse click away. Why not sign up NOW for more business startup success secrets atwww.MillionaireMindsetSecrets.com for FREE and get access to a wealth of resources to help you build and grow your business.

Business Startup Success Secrets – 2 Big Mistakes You’ll Probably Make

2010-06-16T05:50:00.000-07:00

The hardest part about building a business from scratch is that you have 2 very big variables to contend with. One is the system and the other is the people building and running the system.

Let’s talk about 2 big business startup mistakes that are often made and what you as an entrepreneur can do to avoid them.

Business Startup Mistake # 1 - Not Creating the Business System

The whole purpose of creating a business system is to allow you to create a business that will quickly run itself without your own day-to-day involvement. For most small business owners this is merely a pipe dream. The reason this happens is...(Read more on this in my next post)

Business Startup Mistake # 2 – Not Choosing the Right People

Educating, training and mentorship is widely available to help you avoid making these typical startup mistakes.

But, what could you right now do to avoid these 2 typical small business startup mistakes? Well, help is only a mouse click away. Why not sign up NOW for more business startup success secrets at www.MillionaireMindsetSecrets.com for FREE and get access to a wealth of resources to help you build and grow your business.

Think and Grow Rich – 6 Surprisingly Simple Steps to Turn Desire into Gold - Steps 5 &6

2010-06-16T05:49:00.001-07:00

The accumulation of wealth has nothing to do with chance, good fortune and luck.

Wishing will not bring riches. But desiring riches with a state of mind that becomes an obsession, then planning definite ways and means to acquire riches, and backing those plans with persistence which does not recognize failure, will bring riches. There are 6 steps to turn your desires into gold outlined in Napoleon Hill's book ‘Think and Grow Rich’ which have worked for countless others.

In my previous posts I have outlined steps 1 to 4 as follows:

Step 1 - Pick a Number
Step 2 - Give in Return
Step 3 – Decide on a Date
Step 4 – Create a Plan

Here are the last two steps to your wealth success:

Step 5 – Make a Statement

Draft a clear, concise statement of the amount of money you intend to acquire, the date by which you will achieve it, what you intend to give in return and describe clearly the plan through which you intend to accumulate this wealth. This statement becomes your affirmation of intent.

Step 6 – Read Aloud Twice Daily

Read you written statement aloud, twice daily, once before going to bed and once in the morning. As you read – see and feel and believe yourself to already be in possession of this money and wealth. Doing this exercise evokes the powers of autosuggestion which allows you to communicate the object of your desire to you unconscious mind. The unconscious mind in turn influence the conscious mind, its daily thoughts and actions.

It is important that you follow the sequence of steps described in this article and especially make sure you carry out point # 6 as this will ensure your money attainment and wealth creation programme seeps into your unconscious mind and you will become an unstoppable force just like a heat-seeking missile.

Find out more about Think and Grow Rich at www.MillionaireMindsetSecrets.com

Think and Grow Rich – 6 Surprisingly Simple Steps to Turn Desire into Gold – Steps 3 & 4

2010-06-16T04:31:00.000-07:00

The starting point of all achievement is desire. Not a hope, not a wish but a pulsating desire.

Oscar Wilde famously said “we are all in the gutter, but some of us are looking at the stars”. Similarly, you may be down and out financially right now but your thoughts could be those of a king.

In his book Think and Grow Rich, Napoleon Hill presents the idea that “Whatever the mind of man can conceive and believe it can achieve”.

I have summarized the 6 simple steps to turn your thinking so that it achieves the wealth and prosperity you desire. In my previous post I spoke about being specific in what you want and deciding on what you will give in return. (Think and Grow Rich Steps 1 & 2 )

Here are the next two steps:

Step 3 – Decide on a Date

Pick a specific date in your calendar by which you intend to posses the wealth and money your desire. Setting a date focuses the mind and is a great motivator. Time bound goals are measureable and therefore more achievable.

Step 4 – Create a Plan

Develop a definite plan to achieve your desire and begin it at once, putting it into action immediately, no matter whether you think you are ready or not. It’s important not to delay the taking of action. Act immediately even if the plan isn’t perfected.

It is irrelevant whether you are stone broke or have just a small amount of money in your bank account. If you truly desire money and wealth you will have no difficulty in convincing yourself you will acquire it. In fact, no convincing is required. Your desire combined with these 6 steps will ensure your success.

Learn more about Think and Grow Rich at www.MillionaireMindsetSecrets.com - free access to a wealth of resources to for a more meaningful and successful life.

Think and Grow Rich – 6 Surprisingly Simple Steps to Turn Desire into Gold – Steps 1 & 2

2010-06-16T04:27:00.000-07:00

Think and Grow Rich by Napoleon Hill is one book you absolutely must read if you are serious about the business of getting rich.

The following statement best summarises the premise of the book and the secret to attaining anything you desire: “Whatever the mind of man can conceive and believe it can achieve”. I have outlined the 6 simple ways to turn you desires into gold, here are steps 1 and 2.

Step 1 - Pick a Number

Fix your mind on the exact amount of money you desire. Don’t be fuzzy about it. Rather than say you want to have lots of money someday, be more definite. Instead try saying something like ‘I want savings of 100,000 dollars in my bank account’.

Step 2 - Give in Return

Decide what you are going to give in return for achieving your desire. There is no such thing as a free lunch. Giving in return for riches gained is like doing a deal with the universe. It works kinda like the principle of fair exchange in business. You get something; you give something of at least equivalent value in return.

All who have accumulated great wealth or attained great success first did a certain amount of dreaming, desiring and planning before they got what they wanted.

Follow these steps and turn your desires into gold.

Next steps:

Decide on a Date
Create a Plan
Make a Statement
Stay Focused
Read more on those in my next posts.

You can find out more about Think and Grow Rich at www.MillionaireMindsetSecrets.com for FREE and get access to a wealth of resources to help you lead a more meaningful and successful life.

Success Secrets - How to Live Big & Regret Little Part 3

2010-06-16T04:23:00.000-07:00

In a research of his, Dr. Gerald Bell, University of North Carolina (Professor of Organizational Behavior and Management) has asked 4,000 Retired Executives over the age of 70 the following question:

"If you could live your life all over, what would you do differently?"

They responded in common to 8 key areas that if they could live their life all over again, they would do so differently.
In my previous posts I listed the first 6 common areas of regret:

Here are the remaining two common areas of regret and my thoughts on how to avoid it:

Regret # 7 – Career

“I would have planned my career”.

Key Message: Take control of your career and plan it out according to your life goals and vision. Get some career planning/life coaching if needed to help you clarify.

Regret # 8 – God and/or Community

“I would have lived in oneness with my God and or given more back to my community”.

Key Message: Connecting with your God, the higher self and servicing your community are facets of life that shouldn’t be ignored and bring about fulfillment.

So, what would you do differently NOW? Why not review this article again and decide now on how you can live your life differently. Have no regrets. Sign up NOW for more success secrets at www.MillionaireMindsetSecrets.com for FREE and get access to a wealth of resources to help you lead a more meaningful and successful life.