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Small Struggling Business Owners — Go From “Struggling” to “Hundreds or Thousands of Dollars-Hour”

How many times have you heard a prospect say, “I can’t afford you”?

Or have you ever heard a client of yours say, “I can’t afford to __________ [fill in the blank…it may even be marketing they can’t afford.”

Have you even said that? Most of us have at one time or another.

That’s a sign of the way of thinking that KILLS a business. Looking at your business just slightly different can turn your struggles into hundreds or even thousands of dollars/hour in a very short time.

Many of us were taught to live within a budget, that we can’t spend more than we have. All of that sounds pretty logical to us….so we continue doing what we’ve always done and getting the same results…but we are hoping it will be different…It won’t be as long as we keep doing what we’ve always done.

I’m not encouraging you to “break your budget.” What I am suggesting is that you evaluate how you look at things.

Have you also heard that some people look at things as “glass half full” or “glass half empty”? Well, this is one of those times where, if we evaluate which side of that we are living on and start moving to the other we just might change from “building limits” around us and our business to “finding opportunities” to multiply us and our business.

If you had the opportunity to invest $1 that would generate $10, would you do it?

Or if, there was a different opportunity where $1 would return $100, or yet another $1 would return $1,000. Which opportunity would you spend your $1 on? That’s “abundance thinking.”

But, most of us are living in “scarcity” thinking. That’s where we perceive that we can’t spend because the budget isn’t going to allow it. I did say “PERCEIVE.” because it is ONLY a perception. You did spend money on something and there isn’t any of the budget left. You could have spent that money in a better place, maybe on one of those dollars that generated as much as a thousand. With this kind of thinking , we are LIVING with what the world, what the economy, what SOMEONE else has done TO us rather than DEFINING where we are going.

If we are saying, I can’t spend this or that, then, remember those $1 to $10, or $1 to $100, or$1 to 1,000 opportunities we had above? Then, in that “scarcity” thinking mode we very likely decided not to spend any of those dollars….”because we can’t afford it.”

What would happen, if, before making any decision we said, I’ll spend the $1 that will generate $1,000 and use the $1,000 to apply to the budget? How different is that from “I can’t spend that dollar” or any of the other dollars?

I do several seminars a month with business owners, and ask them this simple question, “What would you do the first month that your cash flow wouldn’t pay your overhead?” I always get the same answer.

It starts off with, “I guess I’d have to cut my overhead.” To which I reply, “What is it that you won’t pay this month? Rent, Utilities?” There is a gasp from the room.

Then I ask them, if that won’t work, what will you do next? To which they reply, “I guess I’ll cut my marketing.” Once I show them that Marketing is a MUST and that if $1 spent on marketing generates more than it costs, (that’s the $1 to $10, $1 to $100, or $1 to $1,000) that they just CUT their cash flow, they just cut their business’s throat and it’s life is bleeding out all over the floor. It’s a downward spiral from here. It will only generate less and less every month as each month we decide to spend less on marketing and get less out. There is a reason that the Small Business Administration says that over 80% of all start ups will fail within a couple of years, and 90% within 5 years.

By changing from “what I can’t do” to “what I will do” and “what should I invest in” while looking for the multipliers we can turn a failing business into a business that is generating 10, 100, or even 1,000 times more.

I’ve seen just about “every reason not to spend” that there is, and what it can do once we change to “looking for the opportunities.” One business said they couldn’t spend money on marketing “because they didn’t have it” but the business plan said, spend “$3,000 at the beginning of the month and it will generate $100,000 within 30 days. They just kept saying “I don’t have the money.” I showed them that they could borrow the money. They said they couldn’t afford it for another 2 months, while another $30,000 flowed OUT. Then they borrowed the money, and they are a $750K business now.

Another of my clients who was near shutting down said “I can’t___________” and all it took was deciding where and how they would invest money in their business and they went to $6,000 an hour within a two months.”

So, have you been thinking “I can’t_________ [fill in the blank]” instead of looking for the opportunities?

Whether You Have a Broker or Not, You Need to Educate Yourself on Investments

The first time you took a look at the stock market pages in the newspaper or on TV, you undoubtedly said something close to “Holy cow, I’ll never learn about this stuff.” You then went out and hired a broker so you wouldn’t have to delve into the impossible enigma of the stock market and trading. You needed someone with expert knowledge of investing and trading in the stock market.

That is all well and good. But let’s take another look at it. You are no expert on toxicology, but you know better than to drink from a bottle labeled “arsenic.” That stuff is lethal. You know that if someone suggests you take arsenic for your illness, they are not dealing with your best interest at heart. You will not take their advice because it could definitely be hazardous to your health.

Can you say that about the money you have floating around in the stock market right now? Do you have enough knowledge about stocks and trading to save your own life if things start going downhill? Or are you going to find yourself up a creek without a paddle if it turns out that your broker doesn’t know what they’re doing after all.

Gaining the Necessary Knowledge of the Stock Market can be Intimidating, but…

No one wants to think about their trusted broker making irreparable mistakes with their money, but no one wants to think about being left without a penny when it’s time to retire. It’s just one of those things. Which means you really need to know enough about the stock market to be able to realize when a mistake is being made, or when a new and interesting opportunity presents itself, whether you’re doing your own trading as a rule of thumb or trusting someone else to do it for you.

The most important thing for you to carry away from this is that not only is it important for you to learn the basics of stock market trading, you also need to have enough faith in yourself and your future to recognize that you actually can learn the basics of stock market trading. Really.

Where do you go to Learn, then?

You have probably heard or read stories about people being self-taught investment gurus. These smart, tenacious types supposedly read the financial section of the newspaper every morning to glean everything they can about how the stock market operates. These golden icons of Wall Street become billionaires before the month is over. I would suggest to you that this is undoubtedly an apocryphal tale and you should not be sucked in. You need a formal approach to learning the ropes. You need a program that’s designed and then customized to fit your needs – the kind of program aimed at the rawest beginner so you can learn the ins and outs of the stock market from the ground up. This same program should offer more advanced learning opportunities for you to take advantage of once the basics are clearly understood and practiced. Your program should also provide you a connection with real people who have learned as you have and have ample experience in the market using the very techniques that you are learning.

Lastly, the foremost thing when it comes to choosing any program, know with whom you are working. Know this before you search the net and enter into a business relationship with the first “expert” that comes your way. If you do all this, you will have empowered yourself to successfully handle your financial future.

The Top 2 Reasons You Should Invest in Residential Real Estate

What is the number one reason you should invest in residential real estate? Since the colonization of North America, no other economic asset has produced as much wealth as real estate. And, no other asset has produced as many millionaires as real estate. Ask the likes of Leona Helmsley, the Springs Clan, George Washington, John Jacob Astor, Sam Zell, and others (a number of which are billionaires). They all made their millions in real estate and most had all or at least a large part of their wealth in real estate.

Besides reliability and consistency producing more wealth than any other asset. You should be considering residential real estate for a lot of other good reasons. First, what other asset provides an education in how to care for it in the general every day activities that we all cope with. Paying the gas bill, or electric bill, or water bill are part of having a home and are part of owning residential real estate. Maintenance issues like roof replacement, rotten wood repair, fixing the plumbing, unstopping the toilet, repairing broken locks, and so much more are simply part of every day life and… part of managing residential property. While you may never have leased a home or an apartment to a consumer, the odds are very high that you have completed this exercise yourself and are familiar with the questions asked, the background and credit checks completed, your liabilities if you failed to pay and what the process would be should they have to evict you. You probably already know when rent checks are due, when they are late, and what will occur if not paid on time. You have an idea how to report a maintenance request even if you don’t know what to do with it when you receive it. In fact, you’ve spent a good part of your life to date learning the ins and outs of residential real estate operations and management. Additionally, as an American, you likely already know some or even many of the programs available to you to purchase a home and you have some sense of the loan process you will need to complete for the purchase. What other business can you think of that without additional professional training that you would know so much about?

Because of these two points, no one has created as much wealth as in housing and there is no business you know so much about, you should very seriously consider making residential investing part of your asset portfolio.