The Final Step to Wealth

We’ve spent the last few weeks building up to this last step in building your wealth—getting on the fast track using leverage.  Yes, I’m talking about leveraging properties including using bank loans but to really supercharge and speed up the process even faster, you will want to use financial partners.

To do this, you just need a few people looking to invest in a safe, reliable project that will give them a regular and consistent return. Get them to collectively fund a down payment of 20% or more on the property you want to purchase and promise a reasonable return–say a 10% APR, an amount that is definitely higher than the best CD can offer. You should also put in some of your own money to makes the investors feel more secure seeing your confidence in the investment’s potential by also putting your money at risk.

Then when you sell or rent those properties, get the best return possible and get the money back to your investors with a higher than expected rate of return. When they see that you not only lived up to but exceeded their return expectations, you will have created an enthusiastic group of investors for future projects as well as getting wonderful word of mouth that could bring even more money flocking to you.

If you have read the revised edition of my first book, now named The Next Step in Waking up the Financial Genius Inside You, then you probably read Dell Loy Hansen’s letter in the Pre-Foreword thanking me for writing the book which he read when he was flat broke and in college. Dell gives me and my book great credit for giving him the financial formula and path to his great fortune. He followed pretty much everything I suggested in the book and his success was supercharged and sped up big time. He simply brought on some very well healed partners and took really great care of them with good, consistent returns on their money.

He now owns more than a billion dollars’ worth of properties and recently paid around 85 million cash for the Salt Lake professional soccer team “Real Salt Lake” RSL.  I love his P.S. of his letter where he says “Thank you a million, or more appropriately “Thanks a Billion”.  So if you or if my young man seeking advice and a formula want to jump on the super-fast track, go find some wealthy partners and be sure to take good care of them–under promise their rate of return on their investment and then over deliver.

 

Write Your Way to Credibility

We’re building up to the final step in building your wealth as I had advised a very motivated young man not too long ago. The key to this is leveraging your success by bringing financial partners into your plan. This will be the fourth and last step which we will get to next week. But right now, let’s talk about what you need in order to put Step #4 into practice.

A real key item to have in order to bring people in who can help you leverage your efforts is to have a great calling card. You need something so you will be remembered and more importantly that you gives you some instant credibility.  Putting things into print is a sure way to show you are serious and this automatically gives credibility.  It could be a magazine or newspaper article or, even better, a book on the subject or a closely related subject.

I’ve found that the best calling card I’ve ever has been in the form of my books.  Anyone really can write a book, even if you can’t seem to find an agent or publisher or even if you don’t feel that you are much of a writer. There are individuals, businesses and plenty of books and websites to get you started in self-publishing. You don’t even have to do it all—you can hire on people to do any of the work you don’t feel you can do well or don’t have time to learn.

I self-published my first book, printing only 1,000 copies in the beginning, but wow … selling or even just giving the book away gave me a giant boost in credibility and even a little fame. It got me on the front page of the Wall Street Journal and even on NBC’s Today Show. That made it terrifically easy to get potential investors interested in my projects.

In today’s computerized world you can write a book of any length and print just a few dozen copies or a few thousand for a rather small investment. Then you can hand these out like calling cards, use them to start a conversation and list the publication as a credit on anything you post or print up, for anything. Everyone will take you seriously with your name on a good publication.

Practice, Practice, Practice

If you want to super charge and shorten your path to big success, you will need to apply the forth rule I talked about—leveraging your success through other people’s money.  But before you attempt to bring partners into you financial plan you had better get out there and do some small deals so you will know how they work and so if you make some mistakes it’ll be with your own small deals and not with a partner’s money. Think of this as your practice phase.

This kind of phase will allow you to better judge what it will take to make a viable deal. What sounds easy to you on paper is usually such a different thing when you get out there and do it. I can tell you all about my own experiences but until you actually start making deals yourself, what I tell you will really only be theoretical to you. It’s going through all those steps—the  tiny ones as well as the big ones—that will really drive home the lessons I am telling you about here.

And doing some deals with your own money will give you a chance to build a portfolio of investments which you can bring to potential partners. Investing in your own projects with your own money also shows that you have full faith in what you are doing, enough to risk your own funds. This will add to the confidence people will have in you and will make it easier to convince them to invest with you.

The other thing in this phase to remember is that you will make some mistakes. It doesn’t mean this kind of investing isn’t for you, it just means you’re learning. And at least you will be learning and risking just your own dime.

So set yourself up to start making deals. Put money aside to make those first couple of investments. It’s that first big step that will make everything else you have to do that much easier.

The Success That Comes with Mentoring

Last week I started telling you the story of a young man who asked me for some financial advice. His questions and what I had to tell him was too good not to share.  Supercharging your goals is something we can all benefit from.

As I mentioned last week, you must first firmly set your financial goals and then write them down with a time dead line. After that, you can super charge and speed up your attainment of those goals by following these few easy tips:

1. Go out and find a mentor–Mentors are a must!

2. Get your feet wet and get some experience on a few small financial deals.

3. Go out and make yourself the best calling card possible.

4. Use the “Partner Path” to supercharge and speed toward your goal.

Anyone who has followed my blog over the years knows that I became so financially successful by wisely using leverage to buy real estate. I started with small houses, duplexes and small apartment buildings—usually ones that needed to be fixed up—then I rented them out and or sold them. Look at these numbers and the return on investment and you can see just how a person can make a fortune in a short time by using ten to one leverage and selling property for, let’s say, 10% higher price than the price paid for it. This can give a 40 or 50% return on your money or even more … because of leverage.

So, with this as the basic game plan I advised the young man to follow the tips I just gave him.

1. Find a Mentor: A mentor should be someone that has done what you want to do and has been successful at it. I encouraged this young man to meet with his mentor frequently and to pick his or her brain as often as he could.  He was already doing that with me but with how much I travel he was going to need at least a back-up mentor.

Now, how do you find a mentor and more importantly how can you get them to agree to be the mentor? Well, my advice is to use the Onassis model or method.  The Onassis method, as I call it, follows what Aristotle Onassis, did many years ago when starting out to meet the perfect contact so he could import cigarettes from Greece to South America where he lived then.  This is the method I used to meet the billionaire founder of McDonalds, .

When Onassis was a very young man–long before he made his fortune- he wanted to meet a top guy in the cigarette business that could help launch him into his first business deal of importing cigarettes. So basically Onassis just pestered the guy–he simply stood out in front of his office every morning then by the guys gate at night–not saying anything but just looking like he needed help-finally after about 2 weeks the very influential cigarette executive stopped and said to Onassis. “Who are you and what do you want?” From that simple approach Onassis took a giant leap forward into that business, because this top exec told him to go see the main buyer and use his name as a reference.

From that simple strategy, Onassis began his road to become a billionaire.  I used a similar but easier tactic to meet with Ray Kroc,  the billionaire founder of McDonalds. I called his office almost daily asking his secretary for an appointment and after many, many phone calls she said that Ray would meet with me but for only 10 minutes. I flew to San Diego and met with Ray Kroc walking out of his office 2 hours later. Hey, what can I say?  I just asked him to tell me why and how he became such a great success in life and business and as it turned out he loved talking about himself. Who doesn’t?

There are three more items you will want to implement in order to be super successful but let’s save those for next week. In the meantime, think about who you would want as a mentor. Who is doing what you want to do in a very successful way? And what would it take to get a hold of that person and have them mentor you?

Learning From My Journey

Recently I met a young man who had some very big, big dreams for the future. I was quite impressed and fascinated by what he told me he was going to do with his life and, yes, I could easily see myself in him. Well, I had to go back 40 plus years in time to see myself in him but even back then, I too had huge dreams of success. As I listened to him, many sweet memories came back. Those years were such fun and exciting times. I gained both fame and fortune (even though the fame only lasted the traditional 15 minutes but it was great!)

This young man wanted me to give him some advice and help on a plan and formula that may have worked for me and might work for him. So basically I told him my road to riches story, about how I started with nothing but eventually found my fortune, far exceeding my wildest dreams. Back then my dream was to be a millionaire but I ended up with ‘multi’ in front of the word millionaire.

However, being a millionaire wasn’t my first goal. I had initially dreamed of being a NBA basketball star. I had led my American High School team from Ankara, Turkey to a come-from-behind finals victory in the Olympic stadium in Rome. I was on top of the mountain then and thought I could do anything but when I got to Utah State University on a scholarship and found myself sitting on the bench I realized I needed to alter my goals a bit. I went on to tell this young man that I quickly changed my thinking from basketball and broads to books on goal setting and fortune building. I became fixated on making a million dollars and wrote the goal down with a drop dead date—my 30th birthday. And I not only met that goal, I beat it.

So my advice to this kid was this–set a big goal or goals, write those goals down and then be sure to put a time deadline on those goals. I added that it’s also better to set goals around things that you love, like to do, and know you have some talent in.

The next thing I told him was about  the habit I had formed when I was only 19 years old, the habit of keeping a journal of my life and more importantly of my inner most thoughts, or as my dear friend of 50 plus years from my basketball days in Ankara says, “Journal your Journey”. I told this young man that those many journal entries over the years lead me to write a book that not only enhanced my own life but also pushed me to do more. That book gave me virtually instant fame and even added to my fortune. I was so blessed and lucky to eventually sell more than 2 million copies of my first book How to Wake Up the Financial Genius Inside You and that was just the beginning.

I will tell you next week, exactly what I told this young man to do. I’ll explain the ways to super charge and speed up one’s success path and even why he or you or most everyone who really wants to make a big impact on this thing called “human existence” should write a book. And, no, you don’t even have to have a literary agent or a publisher. Have you ever wanted to end up on the front page of the Wall Street Journal or be on the Today Show? Well, I did both and what I talk about next week can help you get there as well.

Super Brain Gives You Anything You Want

Last week I ended my blog with a tease, saying I would give you some secrets and methods of how to train your brain to give you anything you want.  The authors of the book Super Brain say that you need a ‘matrix’ to work from to accomplish whatever goal or goals you set for yourself.  They also make the very powerful point that the “secret isn’t exerting more willpower or beating yourself up for not being perfect. The secret is changing without force.” So to achieve goals and objectives in your life without force you need to create a matrix for making better choices.

Obviously if you are trying to lose weight you wouldn’t set up a matrix that lists thing such as:

1. Eat more meals at fast food places.

2. Buy and stock more ice cream and donuts in the house.

3. Watch more T.V.

4. Drink more beer.

5. Hang out with more overweight people.

For your matrix to work with a weight loss objective you would  much list items that were opposite of those listed above and you would be better  served if the list contained 10 or 12, or even more, positive directions that you would follow.

For example, the book Super Brain gives a wonderful matrix for a positive lifestyle:

1. Have good friends.

2. Don’t isolate yourself.

3. Sustain a lifelong companionship with a spouse or partner.

4. Engage socially in worthwhile projects.

5. Be close with people who have a good lifestyle–habits are contagious.

6. Follow a purpose in life.

7. Leave time for play and relaxation.

8. Keep up satisfying sexual activity.

9. Address issues around anger.

10. Practice stress management.

One last word of wisdom from Super Brain–“Success comes when people act together and failure tends to happen alone.” This last quote from the book certainly has been the case with me and my life with everything from making tons of money to losing weight to being in tip top shape.  I’ve been so blessed to be able to hook up and hang around all the right people who have made it so much easier to start and stick with a particular matrix.

Go ahead and start today by creating your own matrix for what you want most at this time in your life!

 

VEM for Great Sleep and a Great Day

Last week I showed you a great way to get past the worrying that keeps you from falling asleep or wakes you up in the middle of the night. But that trick I taught you is not the only thing you can do to get a great night’s sleep and have a great next day. I’ve also found a Very Effective Method (VEM) that not only helps my sleep but gets me ‘jump started’ the next morning on my to do list and  sets a very positive mood and outlook for the day.  And if I don’t use my so called VEM my mornings can be, and usually are, super negative downers. On those days, it takes me hours to lift my mental attitude.

My VEM process begins shortly after lights out. That’s when I review in my mind (or perhaps on paper before lights out) what I want to accomplish the next day.  Next, and more importantly, I start telling myself I’m going to sleep long and deep or I say similar positive affirmations (PA’s) that give my brain that message. Plus–and this is key–I tell myself I am going to wake up in a very, very positive and upbeat mood  and it’s going to be a beautiful and uplifting morning.  You can choose the positive words that you think fit you and your situation but the important thing is to repeat the words over and over in your head so your inner brain really gets the message loud and clear.

As any of my readers that have followed me very long know, I am a huge believer in PA’s. I learned about PA’s many years ago from my near billionaire friend and mentor Paul J. Meyer and what I learned from him helped me in so many ways that I am indebted to him for the rest of my life.  Like many things we learn, I slowly dropped the use of PA’s over time. But then Susan Jeffer’s book Feel the Fear and Do it Anyway reminded me of the great power of sending positive messages to the subconscious mind.  And, wow …what a difference that made. As I outlined in an older blog post, I used several PA’s to help  with my tennis game and, as quick as that, raised my tennis playing  level big time without any extra practice even!

Bottom line is,  I am definitely a “true believer” in the great power of  PA’s–they really do work and they will work for you on just about any part of your  life from sleep improvement to mental moods to, yes, even your tennis  game.

 

How to Teach to Help Others and Yourself

Last week I talked about the epiphany I had as I was doing my daily walk (a day I put in 10 miles of walking!)  As you may remember my breakthrough epiphany was that when we start teaching and preaching helpful ideas and  life enhancing goals with  other people , our very own progress and development is inevitably pushed faster toward achieving the very goals the ideas support.  It’s a pretty neat deal–as we help others we help ourselves!

At the end of last week’s blog I promised I would give you ideas to “jump start” your preaching and teaching plans. It isn’t necessary that you be a teaching type or that you have experience in helping to lead others toward achieving goals. You simply need the desire to help and see others succeed.

So here you go. Read these, follow the suggested steps and see what happens! When you’ve seen the effect you can have on other’s progress as well as your own, expand your influence to compound your success and the positive changes you’ve helped make in other people’s lives.

1. Pick a part of your life you want to greatly improve upon.

2. Write it down.

3. Make a list of comments and talking points that will help you present the benefits of the particular goal that you are going to share with relatives, friends and maybe even strangers.

4. Make a list of those relatives, friends, business associates and acquaintances you’d like to help. The best place to start is with your spouse or partner, so you may want to put them on the top of your list.

5. Now go out there and start teaching and preaching. It doesn’t matter how you do it. It could be face to face, by phone, or through email or texting. The only real rule is to share what you know with openness and caring. Understand that some people won’t be ready for the ideas you have to share. Don’t push it on them; just let them know you’re there to help when they are ready.

6. When you feel you have had significant experience and success, you can also teach more broadly through a blog, guest posting on other people’s blogs and websites or volunteering through mentoring programs for kids, college students, small businesses or whatever matches the kind of knowledge you have to share.

Improve From Your Own Teachings

As I was doing my daily walk, I was struck big time by a profound thought! The thought has huge life enhancing potential for everyone on the planet. It has already been changing and helping my life because I have been using it for a long time only I have never really identified it enough to put into words until now.

I’m going to share this with you but, please, think deeply and intently about this and then put it into practice. See if it doesn’t profoundly enhance any part of your life that you choose to drastically improve. Whether you want to get in super great shape or become a much better parent or partner, or even make a few million dollars, you can do it if you follow these ideas.

Any goal, habit, human quality or desire that I start preaching, teaching or pontificating about automatically and almost without effort pushes me to do more of it myself. Those spoken and written pontifications are like a truth drug for my mind which pushes me to do what I have encouraged and taught others to do.  I am totally convinced it will and does work that way for everyone.

If you have been reading my past blogs you might remember me setting some pretty tough and overly ambitious work out, weight loss, and healthy eating goals for myself as I count down to my big 70th birthday.  As of the blog posting this week, I am only 4 days away from 70. As I look back on the last 86 days I’ve been doing this, I must say that not one day has passed without my mind fixating on those self-promises and the advice I gave to myself as well as to all my readers. I can now see that it’s been my inner brain keeping me on track rather silently and automatically.

I guess you could say that my brain pushed me to remain “true to myself” and to my readers.  You see, if you teach and preach to others what they could and should do for self-improvement, or just about any subject, your inner self gives you the message that you must live up to what you put out there.  We all know the saying “practice what you preach” and our inner most brain and soul does not want us to be a hypocrite, therefore our subconscious pushes us to be true to our words.  I am pretty darn convinced that is how we automatically become better at whatever subject, goal or life enhancing ideal we talk about and teach to others.

I challenge you to start teaching a preaching something that you want to improve in your life (be sure to write down you goals and objectives so you can stay on track) and then in a few months take a look back and see what it has done for you and how it has improved other people’s lives.

Next week I will give you a few great ideas to “jump start” your preaching and teaching plan.  Get ready to make things happen!

The Missing 777 and Overcoming Fear

Have you heard anyone say recently that they are not going to take any trips by airplane, because of fear since the 777 Jet went missing?  I’ve only heard one person allude to that, but I’ll be watching to see if airline ticket sales drop because of the fear factor since the Malaysian jet disappeared.

Fear is a very interesting human reaction hooked to so many things in our lives.  Much of the time it has little or no basis to reality or logic.  As you may know the fear of flying is one of the more common human fears although it is statistically extremely safe.  If you were to choose, at random, a commercial flight every single day for the rest of your life, guess how long it would be (statistically) before you got on an airplane that crashed? And, drum roll …would you believe it would take 19,000 years? Yes, that’s right, nearly 7 million flights/days until your statistical chance would be up!  I’ve talked to many people and gave them these numbers and they are STILL afraid of flying.  They know the numbers but their fear trumps the facts.

Fear holds so many people back from fulfilling their big dreams and goals for what are often illogical reasons. Many years ago I wrote a book titled The Courage to be Rich. In my book I talk a great deal about using “courage” to overcome fear.  Building up your courage to be rich, to give a speech to 1000 people, to write a book, to travel to a distant and strange new country or to be super successful in anything  requires you to identify what fears are holding you back and replacing those fears with positive thoughts and actions.

One of my favorite tricks or ways I overcome fear is to use the IGDS philosophy.  Quoting from my Courage to be Rich book, “What is IGDS?  It is accepting the truth that “I’m Going to Die Someday”……so why not really live life now?  Why not really go for it? What have you got to lose?”   I am not saying you should take wild crazy, life threatening risks but I am saying to face your fears and go after what you want with all you energy, zest and strength. Take some calculated risks realizing that you’re going to die some day and you don’t want  to have to say to yourself what Henry David Thoreau said many years ago, “Oh God, to have reached the point of death, only to find that you have never lived at all.”

 

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