Clicky

Search:

Traveling for Ideas

October 7, 2017 by  
Filed under blog

Traveling can be so great for the body and the mind.  We are overseas right now. A couple days ago we took the Eurostar from London to Paris. The 200 mile an hour ride was wonderful–smooth, quiet and, when we weren’t in the tunnel that goes under the English Channel, very scenic. I really enjoy that train. But I think the most interesting thing about travel, especially to foreign countries, is seeing and experiencing different cultures and all the fascinating people.  It’s so mind expanding and invigorating!

I’ve certainly learned that no matter what the sex, skin color, or nationality a person is, most humans are wonderful, honest, and kind people. We are all much more alike than different. Another huge plus you get with travel is learning about new ideas, new products and new types of services. If you have even a little bit of entrepreneurship in your bones maybe you can introduce one of those ideas, products or services to your home city or state and maybe end up making a small or even large fortune.

Many years ago, my wife Kimberly noticed those wire spikes they were using in Europe to keep birds away from buildings and places that were being inundated by a lot of bird droppings.  Those wire spikes were a simple little invention that was unheard of in the USA at that time.  If we had been the first ones to copy that simple invention in the US, as someone did not long after that, it no doubt would have added a few extra millions to our net worth.  Oh well. At that point in my life, I was much more interested in playing tennis.

So, if you are looking for good ideas to duplicate, do some more traveling and have a ton of fun meeting kind and interesting people. Take some time to really observe and look for new ideas and products, items that maybe you could be the first to introduce to your hometown and country. With such ideas, you just might cash in big time!

Living the Rich Life … Well Below Your Means

August 12, 2017 by  
Filed under blog

In last week’s blog, I said that multi-millionaires are risk takers and, sure, sometimes those risks don’t work out but with enough time, determination, and a good game plan, taking risks do pay off.

Viewing multi-millionaires from a distance you might not realize that most of these people also have a “lack of attachment to spending”, especially on their way up the financial ladder. But even after arriving at the multi-million dollar status, they still tend to live below their means. This is because they still pay close attention to their spending; it’s a habit they formed when they were poor and working on climbing that money ladder.

This trait jumped out at me just a few days ago while planning a trip to Europe.  I got on line to buy two first class tickets to Paris and, on my first search, saw that prices ranged from $8,000 to $11,000 for each round-trip ticket. Even though I could easily afford those kind of prices, I just couldn’t stop there.  I spent another 20 or 30 minutes looking at different route’s, dates and airlines and those minutes paid off big time.  I found a $2500 ticket for a nonstop flight to London, knowing that we could catch a ride on the great Euro star train which only takes 2 hours and 15 minutes to get to Paris. The only minor problem was that we prefer to fly on Delta airlines since we get a lot of free miles and our million-mile status gives us all kinds of benefits and privileges.

I told my wife and she told me to wait a few minutes because she was checking a few different dates for Delta and sure enough within 5 or 10 minutes she found a round trip, first class flight on Delta into London for $2600 dollars—for another $100 it was well worth it to us and we quickly booked our 2 tickets.

Like I said, I could easily afford the higher price but I would much rather use the savings to buy more properties or even make more donations to my favorite charities.  Maybe if I were a multi billionaire I would just not bother shopping around and would pay the much higher price.  But then I look at someone like Warren Buffet and even with his $75 billion, he lives far below his means, still residing in a very modest house that he’s been in since 1958.  He very much has that great “lack of attachment to spending” trait and knows how to live below his means!  We all need to learn a lesson from him and yes, pass it on to your kids and friends and anyone who wants to make it big and stay there.

A little P.S. here … that Euro star train ride is fantastic! It’s smooth, quiet, and travels at 200 miles an hour, straight from downtown London to downtown Paris. I love that wonderful and very scenic ride! You should make your own plans to take Euro Star and visit Europe in the not so distant future.