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Wednesday, July 22, 2009

Why Be A Copy Cat?

Why Be A Copy Cat?
By Loral Langemeier, Millionaire Maker
Reference - http://www.global1training.com

For those of you in the beginning stages of creating a Cash Machine some of the best advice I can give you is to do your research and find a business model. Someone out there is doing the same thing or, at least, darn close. Doesn’t it make sense to learn how others are doing what you want to do?

When I teach people about modeling after a similar business we’re not just looking at the surface, we’re really digging in. What is their marketing system? How are they reaching out to their customers? What has worked for them? What hasn’t?

We also want to take a good hard look at general operations. What are their procedures for hiring? How small did they start? What was their rate of growth? What are the administration practices?

Do you see where I am going here?

Modeling your Cash Machine after a successful existing entity is smart business. Now I am by no means saying to completely rip off an idea or practice, but I am saying find out what works so you don’t make avoidable mistakes. When you look at a business plan process, the guessing is eliminated when you follow a model company.

Being unique with your Cash Machine is great but make sure you’re not so out there as to lose your audience. The idea here is to create wealth. It may not be the most exciting product or service in existence but it gets you in a cycle of wealth. You can start to take bigger risks later.

In addition, you want to be looking at how things are packaged. How does your model company offer its goods and services? Packaging is a huge part of creating a successful Cash Machine business. Even if your product or service is basic it’s imperative that you offer your customer some choices.

There’s an example I’ve used in my live Cash Machine Workshops for a window washing service. Window washing is pretty straight forward. Generally the pricing varies by the amount and size of the windows and most people would think that would be it — BUT there’s so much more you can be packaging along with this service. What if said window washer offered “green” cleaning products to the client? Or even in between window wipes for the customer? Seasonal window painting? That sure would bring in some extra cash! Offering discounted annual contracts would guarantee steady work. The ideas are endless once you get on the right track.

Creating a Cash Machine is not brain surgery. Don’t make it harder than it has to be. There’s hardly nothing new under the sun these days so find out who’s doing it right and also who has done it wrong. Learn from businesses doing what you want to do and don’t be shy talk to your competitors/future colleagues about their ups and downs.

Be creative and innovative but avoid trying to be too out there or unique. Once you’ve got your Cash Machine up and running and creating a profit you can be free to try new things. Follow what works and avoid practices that don’t.

Ready GO!

Loral Langemeier

PS: Don't forget to sign up for you free audio download, just enter your name and email in the box above for immediate access.

PPS: Limited tickets still available for Loral's Cash Machine Workshops in Sydney (Sept 5th to 7th) and Melbourne (November 27th to 29th). Email uymg2008@yahoo.com.au for further details, but be quick because these discounted tickets won't last!



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Tuesday, July 14, 2009

The 12 Building Blocks of Wealth

The 12 Building Blocks of Wealth
By Loral Langemeier, Millionaire Maker
Reference: http://www.global1training.com/wealthcycle

Wealth building is a process. Anyone who has inadvertently signed up for a wealth-building seminar - only to receive a barrage of get-rich-quick schemes - may be justifiably skeptical of anyone who claims to create millionaires. The reason I can say I create millionaires with complete confidence is that I do it by teaching them a process.

Wealth Cycle investing isn't a scheme, a plan, or even a strategy. It is a system that produces results when followed. Because it is a system and not a strategy, it encompasses and allows for a wide range of investment ideas and strategies. For example, one person can become a millionaire by investing in single-family rental properties, another person might create new cash-flow businesses while a third may opt for both real estate and business creation.

By following the 12 Building Blocks Of Wealth Cycle Investing, you are increasing your chances of success. Here is a brief summary of those building blocks:

* Establish a Financial Baseline. This identifies where you are today: your income, expenditures (and net income), and your net worth (i.e. your assets minus your liabilities). It's surprising how many people can't tell you their net worth (or don't want to).

* Establish your Financial Freedom Day. This is your goal - the result you will obtain by following the Wealth Cycle. You identify your expected net monthly income and net worth within a particular time frame. This is the lighthouse that guides you through the investment seas.

* Conduct a Gap Analysis. What's the gap between your destination and your starting point? The Gap Analysis helps you to determine which of the remaining nine building blocks you'll do next. The process varies from individual to individual, so your sequence may differ from what I show here.

* Create a cash machine. Your cash machine is not necessarily your job. Ideally, this is a business you create (possibly in addition to your job) that will produce additional cash flow for your investments.

* Entity structuring. You'll need to protect your assets and reduce your taxes to increase your wealth. Entities (LLC's and Corporations) protect you and your money.

* Forecasting. Start living your life like a business. Forecast your revenues and expenditures so that you can make steady payments from your cash machine into your Wealth Account.

* Build a Wealth Account. You purchase new assets from the money you have in your wealth account. You can manage your debt with other funds, but your wealth account money is strictly used to buy assets (which increase your monthly cash flow and your net worth).

* Manage your debt. Reduce your debt - not first, but along with building your wealth account and buying assets. Often, your debt payments can be made from the money you earn on your assets, instead of from your paycheck.

* Buy assets. Become an asset junkie. Invest directly in real estate, businesses, and even oil wells. By doing so, you'll increase your monthly cash flow and/or your net worth.

* Lead your wealth team. Work on your leadership skills so that you are leading your accountant, real estate agent, attorney, assistants, and others. Your wealth is up to you, so don't leave it in the hands of others.

* Work on your mental and emotional conditioning. What keeps most people from becoming wealthy isn't a lack of opportunity - it's how they think. Start thinking like a millionaire, and you'll soon find yourself acting like a millionaire. Before long, you will BE a millionaire.

* Work with a team. There is no such thing as a "Self-Made Millionaire." There are only team-made millionaires - people who know they need a strong team, including field partners, mentors, and professionals.

The Wealth Cycle is designed to make anyone wealthy, regardless of your starting point. Follow the cycle, but do it with a team. You will become a millionaire.


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Wednesday, July 8, 2009

Free Interactive Webinar with Loral Langemeier - Today's Hottest Cash Machines

It's a different economy. You need to learn to create new money with a Cash Machine.

In today's hottest cash machines webinar - you will learn, step by step exactly what a cash machine is and how you can turn it on to spit out new money fast using skills and resources you already have.

And because Loral Langemeier works so closely with Harry Dent, you will also
discover some of the hottest cash machines that you can create today!

Date: Thursday 16th July 2009
Time: 7pm - 8.30pm
Webinar Access Details: Provided Upon Registration


Click here to register
And while you are there, make sure you watch the 6-minute video of Loral talking with Kylie Gillies and Larry Emdur on The Morning Show.

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Monday, July 6, 2009

Wealth Building 101: 3 Steps to Creating Wealth in a Changing Economy

FREE WEBINAR: Tuesday, July 7, 2009 5:00 PM - 6:00 PM PDT

Are you ready to start building and creating the wealth you want and deserve - wealth that will last you a LIFETIME?!

Yes, is the right answer! Join Loral for this beginner's guide to creating wealth. She'll teach you the 3 easy and essential steps EVERY entrepreneur should take to begin creating sustainable wealth.

You'll learn how to create an entrepreneurial mind set, understand the difference between good debt and bad debt, and not only how to start making more money TODAY but also how you CAN make your money work for you.

Use the following link to register now!
https://www1.gotomeeting.com/register/885656521
The registration process is very easy and allows you to convert the times to your own time zone.

For details of further upcoming webinars, check here:
http://liveoutloud.com/UpcomingWebinars

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Thursday, July 2, 2009

Get Ready to Start Your Cash Machine

Loral Langemeier is one of today's most dynamic and pioneering financial strategists and has spurred thousands around the world from dazed apathy and fear of finance to getting on the path of millionaire status by giving them the simple tools to launch innovative businesses that generate cash and build wealth.

In the Cash Machine Workshop, Loral will cover:

  • A Step-by-step wealth technology
  • The importance of team and strategies of how to build one.
  • Your skill set and why you should match it to a Cash Machine.
  • How to create a revenue model.
  • Marketing and sales strategies to help launch your Cash Machine successfully!
  • Why it's imperative to start building wealth before you focus on debt and saving.
  • How to capitalise on the current market and other real estate tactics to help you generate new money!




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