Brian Tracy! Get Rich Your Way
4. Start from no money
“Actually the grass is not always greener on the other side of the fence.
The fence does nothing to the grass.
The grass is greenest where it is watered.”- W. Somerset Maugham
When I started out in life,
I felt sorry for myself
because I had no money.
I have read the famous editorials
that in America life is unfair
because some people have money
and some people don’t.
The articles imply
that if you go into life
without money you have very little chance of succeeding later.
Then something profound happened
that happened to change my mind.
I discovered that the typical American is someone
who comes into life empty-handed.
Going back to the old controversies,
the founders are often said to have come
to this country with no money
or little worth and had to start living frugally.
For this reason,
America’s constitutional system was designed,
within the framework of commercial law,
to make it possible for anyone, anywhere,
to become successful if they work hard,
save money and invest wisely over the course of their lives.
If you don’t find a way to make money while you sleep,
you will work until you die. ― Warren Buffett
When I was growing up and just turned 30,
although I had short-term successes,
I never had enough money to be able
to start building a rich life for myself later.
There always seems to be every bill
and expense draining every penny I earn.
I am in debt all the time.
The idea of a financial breakthrough never crossed my mind.
Even though a great business opportunity came,
there was nothing I could do.
Since I have no money,
I am not free.
I was bound by the “golden chain” of hired work
and I couldn’t get out.
When I started researching financial success
and self-made millionaires,
I found that almost everyone around me
It was in a very similar situation to me.
No one seems to have any money.
Everyone is in debt.
People are almost always worried about money.
The idea of becoming rich is really just a pipe dream,
with almost no chance of coming true.
You may be in the same situation right now,
with so many expenses
and debts piled up above your own money or assets.
As I said at the beginning of this book,
the statistics of financial success are a bit terrifying.
According to statistics of the insurance industry,
only one person who reaches retirement age today will be rich.
4 out of 100 people will be rich in money.
15 people have some savings.
But the other 80% will have to live on pensions,
still have to work or be in poverty.
And this is the result of a lifetime of working
for a salary in the richest society in history.
How did this happen?
There are two main reasons why people retire in poverty
no matter how much they earn in the course of their lives.
First, they never decide to retire rich.
but they never made a definitive decision
that they would have to become rich.
Second, even though they decide to retire rich,
they hesitate to make that decision until it is too late.
They always have a good reason to postpone that decision.
The greater the passive income you can build,
the freer you will become. ―Todd M. Fleming
FOUR STEPS TO FINANCIAL SUCCESS
If you really don’t want to have free time,
want to achieve financial affluence and retire rich,
you have to follow these 4 secrets.
Must really yearn
The first step is desire.
You endure hardship with an unshakable determination
to achieve financial success.
You must be willing to make short-term sacrifices
in order to enjoy long-term financial success.
To stay out of pocket,
you must be willing
or able to hold back from demanding satisfactions
and spending on new cars,
and save money and invest it instead.
In the final analysis,
the only real determining factor of what
you can do is the intensity of your desire.
If you endure hardships to get rich,
you will surely get there.
A decision has to be made
The second step is to decide.
You have to make the decision right now to do whatever
it takes to become financially wealthy.
You must be willing to pay any price and go anywhere
to achieve your financial goals.
Must be determined
The third step is determination.
You must be determined to persevere
until you succeed
even though you will have to go through all the hardships and obstacles.
No matter how many times you fall,
you must be willing to get up and keep moving forward.
Determination and perseverance are perhaps the most important qualities
needed for personal and financial success.
You have to be in control of yourself
The fourth step is discipline.
You must develop discipline,
gradually develop your abilities
until you gain self-control
and until you develop the necessary habits
to achieve financial well-being.
You discipline yourself to wake up early,
work a little harder,
and stay at work a little later.
You discipline yourself to learn everything
you need to know to achieve your financial goals.
You discipline yourself to be determined
to go through with it,
no matter how many times of sad,
and temporary setbacks you experience.
Train yourself in the four qualities:
You can determine how successful you will be in the future
by how well you perform on one of the four qualities on a scale of 1 to 10.
Regardless of your score,
be determined to improve in each area,
by practicing that quality whenever needed.
The only difference between a rich person and a poor person is how they use their time. ― Robert Kiyosaki
FIVE WAYS TO GET RICH
Based on over 25 years of research on American millionaires,
there are basically 5 ways you can become rich,
starting with nothing.
We’ve already talked about some of those things.
Inheritance of property
You may be good at inheriting money.
Less than 10% of wealthy Americans inherit all
or part of their money,
and that number is decreasing every year.
More and more Americans are creating opportunities
the first generation,
the owner of the wealth has been earned with his own hands.
Become a professional
You can become rich by achieving wealth with your expertise.
You can become a doctor,
or choose any other specialty
that requires long formal college training
after years of hard work.
As a professional,
you can become very good at what you do,
earn a very good salary,
and then carefully save and invest the money you earn.
In professional services,
a person can usually only earn money as long as he/she works.
It is difficult to build capital
or residual income by performing professional services,
accounting or law.
Sometimes you can do your own thing,
but once you stop working,
your income also dwindles and stops.
For this reason,
millionaire professionals almost always create another investment channel
for high returns,
investing in real estate,
and commercial speculation that ultimately generate cash
and dividends for them when they stop working professionally.
Become an executive officer
Becoming a senior officer of a large company can make you financially prosperous.
You can study well and go to work for a large company,
move up through the ranks to the position of a senior official,
your job pays very well,
and then you become rich available
through stock selection and investment.
Win the lottery
Sometimes people get rich in America through special coincidences.
They win the lottery,
write a hit song or a best-selling book,
invent a trendy product or service,
or become successful actors or entertainers.
Stories of these people abound in newspapers,
and television and radio shows,
yet they represent less than 1% of the wealthy in the United States
Your chance of winning the lottery is equivalent to being struck
by lightning in the same place twice within 2 years.
The odd number is 1 part per million.
Absolutely 95% of actors are unemployed at any given time.
Only a few of them make millions of dollars per movie.
Most entertainers are underpaid
and although they are brilliantly successful,
most often when they retire,
they are often poor.
They spend as quickly as they earn,
and then end up with nothing left at the end of their active life.
That’s why they say,
“easy to gain is easy to lose.”
The main road to wealth in America
Perhaps you can become rich by starting your own business
and making it all by yourself.
Starting your own business has always been the main route
to wealth for most self-made millionaires.
Absolutely 74% of wealthy Americans are successful business owners.
In 2003, the Organization for Economic Cooperation
and Development in Paris ranked the United States
as “the country with the most business owners in the world.”
The business owner offers more opportunities
and opens more doors than all the other prospects
for getting rich combined.
This is why it is said that if you have the ability
to open your own business and you don’t,
you are a fool.
For the rest of this book,
I’ll share with you a series of ideas,
and success systems that you can use in a variety
of areas to achieve affluence money.
Every idea or suggestion in this book has helped hundreds
and thousands of people become self-made millionaires.
What you can do with the ideas you learned in the previous pages
is entirely up to you.
Success will only depend on your desire,
Remember, your mind is your greatest asset,
so be careful what you put into it. — Robert Kiyosaki
THE STARTING POINT OF WEALTH
Theodore Roosevelt once said,
“Do what you can, with what you have, where you are.”
Like most Americans,
if you started empty-handed or had little money,
where would you start?
The answer is that you start by raising your own capital.
Remember, “Money makes money.”
But money doesn’t equal the will and discipline you must have to accumulate the money needed for financial success.
Only when you can raise some capital on your own will you prove that you are capable
manage and grow your money at scale.
You must go before you run.
Before you can become a millionaire, you must learn to think like one. ― Thomas J. Stanleyt
PAY FOR YOURSELF FIRST
One of the classics of great success,
The Richest Man in Babylon was written many years ago by George S. Clason.
The main idea is still valid to this day.
This book is a primer on financial success
because its principles are simple,
Elsewhere in the book,
Clason argues that the starting point of financial success for you is
to “pay the price for yourself first.”
Set aside the top 10% of your earnings each time you earn
or receive money to put into a financial self-help account.
When you save money,
never touch it again
or spend it for any other reason than investing to grow it.
After you bid yourself first by saving 10% of your income,
you then find a way to live off of the remaining 90% or less.
It doesn’t matter because people’s lives mostly live according to habits.
Probably never have you developed the habit
of living on 90% or less of your income.
From that starting point onwards,
you are sure to achieve financial success.
“I discovered that wealth is a kind of perception
and that anyone can perceive it
by thinking like a rich person.”– Andrew Young
WORK WISE AND SAVE MONEY
Throughout the history of founding a business in America,
people have heard the advice “work hard and save your money.”
This is the oldest rule of success.
Why is saving money so important?
Because saving money is discipline
and any discipline affects all other disciplines in your life.
Each time you practice discipline,
your other disciplines become stronger.
Each time you fail to be disciplined in one area,
your other disciplines become weaker.
You gain self-control
when you develop the ability
to control your desires or lose control
when you can no longer control your desires.
If you don’t have the discipline to try not
to spend all the money you earn,
you won’t be able to become rich.
And if by some miracle you become rich
but because of lack of discipline
and self-control you will not be able to keep your wealth.
This is why the majority of people who win the lottery,
then 2 to 3 years later often
had no money left in hand and had to return to his old job.
This is why most of the “surprisingly successful people” end up empty-handed
and go back to living in a single,
cramped rented room.
Since they don’t develop the discipline necessary to keep their money,
it slips out of their hands like flowing water.
In chapter 2, you learned about being a money magnet.
When you save money,
you begin to make the law of gravity happen in your life.
Every dollar you save attracts another dollar.
When you save $5, $10, or $100,
you attract more and more money into your life,
often in special ways.
If you really care about your financial future,
then you must be able to control the urge
to go to your local bank and open a savings account.
Put as much money as you can into that account,
even if it’s just $10.
From that day on,
put every coin you can into that account to help grow it.
You will find that the more money you put into that account,
the more money you will attract from sources you never expected.
You will receive bonuses at work.
You will receive a surprise income tax refund.
People will pay your old debts.
You will find yourself having to sell used clothes
or furniture around the house.
You can even get surprise bonuses.
If you are able to control the urge
to put these “gifts” into your financial self-help account,
you will strengthen the magnetic field of that account
and begin to attract more and more money into your life.
We are all in the gutter,
but some of us are looking at the stars. ― Oscar Wilde
START WITH NO MONEY
How will you become rich if the idea of saving 10% of your income
is not possible at the moment?
Follow the majority!
Most people can’t start getting rich by saving 10% of their income.
Rent, utility bills,
food and other bills decimate everything they earn,
in addition to a slight deficit,
often due to borrowing or using a credit card.
If you are so far behind that you think you are at the starting level,
how do you start?
The simple answer is that you start saving 1% of your income
and learn to live off the other 99%.
If you make $3,000 a month,
that’s 30 dollars per month,
1 dollar per day.
Would you be able to save this money if your life depended on it?
What if your entire financial future depended on it?
In fact, you can find a way to live on 99% of your income
if your desire for financial well-being is strong enough.
Because you are also a habitual person,
you will quickly feel comfortable living on 99% of your income.
Then you start saving 2% of your income
and live off of the remaining 98%.
By gradually increasing your savings by 1% each month,
within a year you will be living comfortably on 90% of your income
or less and you will be on your way to financial well-being.
But you have to start right away.
You have to do it by opening a savings account
and start saving 1% of your income today.
COMPLIANCE AND SUFFERING
One of the main mental obstacles
that hold people back from saving money,
even when they know they have to,
stems from an early age.
When you were young,
your parents encouraged you to save your pocket money
and dissuaded you from spending it.
But you are used to buying candy and toys to delight.
The idea of saving your money is seen
as a disadvantage or even a penalty.
Thus you develop negative feelings about the whole concept
of saving rather than spending.
In a work by Sigmund Freud,
he explains “the origin of pleasure.”
He argued that all human activity is an attempt
to move from deprivation
or misery to pleasure and enjoyment.
Every person, when he was a child,
had the habit of spending money for pleasure
and associated saving money as suffering and deprivation.
this prejudice will prevail
and is a major cause of financial failure
and end of life poverty.
Your aim is to reverse the subconscious bias of spending over saving.
You have to start thinking about happiness,
security and enjoyment provided you have money in the bank.
You must assume that saving leads to happiness
and success rather than disadvantage
You must begin to expect that saving money will bring
you happiness and contentment.
This seems to be the prejudice of all people who become rich.
CHEMICAL STRATEGY FOR SMALL FINANCIAL SUCCESS
It is often hard for people to think that reducing their standard of living
and liberal lifestyle in order to save money.
When we recommend living on 90% of your income or less,
there is almost always an automatic negative reaction to the idea.
You may agree it’s reasonable,
but you feel uncomfortable cutting back
and sacrificing these expenses.
However, there is a way to counteract this natural negative response
to saving and accumulating.
I call it “the wedge strategy.”
You can’t bear to fast
and spend the money you make today.
But it’s okay if you won’t spend it
when you don’t have money in hand.
Here’s how the wedge strategy works.
From today onwards,
resolve to be ready to save 50% of any salary increase,
bonus or seniority bonus.
Almost anyone can approve of saving 50% of the money
they haven’t received yet.
If I offered you $1 on the condition that
you give me 50 cents back,
you would certainly agree.
You must have the same attitude towards yourself.
Decide in advance
From now on,
if you get a $100 raise or bonus for anything,
you have to decide in advance you’re going to save 50% of that money
and put it in a savings account.
By making this decision in advance,
even before you receive the money,
you will find it easier to make this determination knowing
that you will get additional funds.
The average cost of living and benefits in the United States is increasing
by 3 to 4% each year.
Following some of the strategies in this book,
you will learn how to increase your annual income by about 10, 20,
and even 30% per year.
In any case,
you must decide to save half of the increase,
and then invest it carefully for the future.
By doing so,
if you start early and are persistent enough,
you will become money rich,
if not a millionaire in later years.
DON’T LOSS MONEY
Here’s an important rule when you start accumulating money.
Invest money conservatively.
a self-made American billionaire,
was once asked by Forbes magazine to explain his financial success.
how is his.
He said that he has two principles for investing money.
Rule number one is “Don’t lose money.”
“Whenever I see an investment opportunity
where I might lose money,
I simply refrain from investing in the first place,” he said.
As for the second,
Davis said, “Whenever I’m tempted,
I refer to rule one,
‘Don’t lose money.’
one of the richest people in America,
he started his career from scratch many years ago,
he also applies these same principles to investing.
“Don’t lose money.”
You should do so.
The secret to getting rich is to accumulate money carefully,
and then invest it wisely.
One of the characteristics of the self-made millionaires
and former riches in the United States is prudent,
and wise investing.
Don’t try to get rich quick if you don’t want to ruin your career.
Instead, focus on getting rich slowly.
If you have saved 10% of your income or more,
invest it carefully
and earn 8 to 10% more each year,
that’s enough to make you rich.
Even $100 per month,
invested for 40 years at 10.5% interest,
after that period will have more than $1 million ($1,117,000 to be exact).
STRATEGIES FOR RICH
A few years ago,
my accountant was someone who had worked
as an accountant for many wealthy people.
He saw that they all seemed to have two things in common.
The first is how little they owe.
Any money they owe is firmly backed by lucrative assets.
No matter how strong the economy
or how low interest rates are,
they refuse to go into debt
unless the return on that investment is significantly higher
than the interest paid on it.
The second quality he saw was that no one got rich quick
or made reckless speculation.
Over the years,
they’ve focused on increasing their net worth every year
by about 8 to 10%,
year after year with very little volatility.
They are not greedy.
They accumulate money slowly and firmly,
no matter what the economic situation around them.
Advice from the bank manager
I once attended the retirement reception of a banker
who worked with many millionaires during his career.
In his talk with the group here,
he talked about the outstanding characteristics of self-made millionaires that he has met.
He says he has worked with sailors,
teachers and crane operators
as well as others from all walks of life
who have become millionaires.
One common trait they all have,
he said, is that they save money,
and then invest it carefully,
prudently and wisely.
From a young age,
each of them was able to see far into the future
and was willing to go through many years
to achieve financial self-reliance.
CHANGE YOUR PERSONALITY
The magic result of saving money is that it promotes character,
Once you start saving money,
you’ll feel like you’re in control of your destiny.
Saving money makes you feel in control of your own life.
It makes you feel personal and confident.
Having money in the bank really changes your attitude about yourself and others.
It even affects the way you speak.
One of the main reasons
why people are unhappy,
worried and frustrated is
because they don’t have money in the bank.
So they are always worried about money.
There is never a time when they want to go to a restaurant
without paying attention to how much they owe.
But when you start saving
and accumulating funds,
you become a different person.
and proud attitude will increase.
Your handshake becomes firmer
and you look people directly in the eye.
Knowing you have money in your pocket
and in your bank account will make you look more heads-up,
with a more confident voice,
and a more positive attitude toward yourself and your life.
TRUTH ABOUT BUSINESS OWNER
US President Calvin Coolidge once said,
“Business in America is business”.
Everything you do in your financial life is connected
to the business in some way.
Whether you’re a real estate investor
or a stock market trader,
you’re a business.
You have profitable deals.
You have profit at loss.
You have assets and liabilities.
You have choices and decisions to make,
and you are constantly faced
with ever-changing competition and economic forces.
Everything that has to be done with money is related
to the principles of the business in some way.
Some statistics say that 80% of new businesses fail within 2 years.
Another 10% to 15% of new businesses fail within 4 years.
In many cases, people start these businesses
by investing everything they have
plus everything their family will lend them,
plus two to four years of their life,
only to find out in the end,
there are no coins left in the pocket.
The main reason people don’t start a business is
because they fear they will fail and lose their money
and in many cases they have a point.
However, if you study these numbers more closely,
a different picture emerges.
The reality is that most businesses are started by inexperienced business people,
within a few months
or two they become a failure.
It is because inexperienced business people do not know how to make deals,
deliver satisfactory products
or manage businesses in a highly competitive marketplace.
Probably 99% of businesses started
by inexperienced people will fail within the first 2 or 3 years.
Why is the rate of new businesses failing so high?
It’s because business owners have hopes and dreams,
but they don’t know exactly what to do
to build a successful business.
They may have an idea for a product or service,
but they don’t know all the things they need to know to sell
and deliver the product
or service at a price
that can make their business survive and thrive.
We will discuss some of the key success factors as this book progresses.
Value of experience
Here’s the good news, 90% of businesses started
by experienced entrepreneurs are successful. Why?
The reason is because experienced business people know
what they have to do to make the business successful.
They know how to buy or produce their products and services.
They know how to sell and supply to the market.
They know how to be productive.
They know how to negotiate with their suppliers.
know how to lease properties and negotiate real estate leases.
They know how to manage their finances.
In other words,
they have the experience that is indispensable for business success.
For you to start your business and be successful,
these are also things you must learn.
According to Dun & Bradstreet,
96% of U.S. businesses go bankrupt
because of “incompetence.”
Lack of administrative capacity means
that the person running the business doesn’t know what to do.
Anyone who has ever built
or run a business is often amazed at how many incompetent people
of all levels operate in the business world.
REASONS OF BUSINESS FAIL
There are two main reasons
for the lack of management capacity leading to business failure:
poor business results and poor cost control.
Poor business results
The first area of incompetence is a lack of sales
and marketing skills or abilities.
About 48% of businesses fail to do business
and market all over the country
because the business cannot sell enough of its products
and services to continue to exist.
With a decline in revenue
and cash flow like the blood to the brain of a business
will quickly bring businesses down to the point of collapse.
In a broad sense,
this is why people themselves are not successful.
They do not make enough income to cover all expenses,
both necessary and unnecessary.
In the end they ran out of cash
About 1.5 million Americans file for bankruptcy each year
because they don’t make enough money
to cover their living expenses,
often because they can’t control them.
Poor cost control
According to Dun & Bradstreet,
46% of businesses fail because of poor cost control.
Enterprises can do business
and make enough profit in the first accounting period,
but gradually in the last accounting period,
they lose more and more,
and then go bankrupt.
Moreover, this is also the main reason
for personal financial failure.
No matter how much people earn,
if they can’t control spending to exceed revenue,
it will cause a deficit.
If this relationship is too imbalanced,
their financial situation will go to the point of collapse.
Both the earning side of the business
plus the cost control side
and the cash flow analysis all require experience.
If you are really interested in becoming financially well off,
you must become skilled in both of these areas.
PROSPECTIVE BUSINESS SUCCESS
The law of correspondence in business holds that your outer results
will always correspond
to your inner world knowledge,
To succeed in business,
you must learn the skills necessary to succeed.
Business success is not a matter of luck.
Success in business is a matter of knowledge,
skills and how to apply them.
It is a matter of ability.
Success in business is a matter of experience and knowledge.
It covers the skills you need to learn through practice and simulation.
Surprisingly, you can learn what you need
to learn to be successful in any business.
Today everyone can succeed in business
of any kind without any prior knowledge
or experience in that business.
All the skills necessary for business success can be acquired through study.
Anyone who can do anything,
you can do it too.
PROMOTE PROFESSIONAL EXPERIENCE
One of the best ways to become successful in business is to continue training.
About 80% of successful business people attribute their success
to the training and experience they have gained working for others.
So they can learn “at no cost.”
They can learn by fumbling on their own,
but their employers must bear the cost of their mistakes.
By paying close attention to what they do right and what they do wrong,
they can gain the necessary experience
and also get paid.
With that said, up to 90% of businesses started
by experienced entrepreneurs eventually succeed.
Companies started by people with more than 5 years
of business experience are most likely
more successful than any other company.
Their success rate reaches 90%.
If you’re starting out with little capital or empty-handed,
don’t be discouraged.
The self-made millionaires defaulted
or nearly defaulted 3.2 times
before they finally developed the skills
and experience needed to make a fortune.
Be prepared to accept the ups
and downs on your way to financial success.
This is only part of the price you pay to stand out
from the rest of your industry.
LEARN AND EARN MONEY
Experience is key.
If you really want to start building a successful business for you,
start by going to work for another business in the industry that excites you.
Be prepared to spend 5 years of hard work getting the training
and experience you need.
Be prepared to invest up to 10,000 hours
to become proficient in the 5 key points of business.
Please be patient.
Don’t look for shortcuts or instant riches.
Horses or horses running long distances.
When you start working for a company,
think of your work as a springboard for future success.
Take all you can and every course that takes place.
Give the conference materials to your boss
and ask if your boss will pay for you
to attend these seminars and courses.
If your boss won’t fund it,
go to school and take care of yourself.
No matter who signs your payroll,
always treat it as if it were for yourself.
Treat the company you work for as if it were yours,
because it’s the way it works.
The biggest mistake you can make in life is thinking you work for someone else,
You are always self-employed.
You are the president of your own personal service company.
The more you act as if you did it for yourself
and treat the company where you work
as if it were yours,
the faster you will grow and learn.
The more you treat the company
where you work as if you owned 100% of the stock,
the more quickly you’ll be interested in people who can help you.
By taking personal responsibility
for the results and success of the company,
you will attract better opportunities and accountability.
You will get better pay and get promoted faster.
are seen as more productive than those who only come in
from 9am to 5pm and just do what they are told to do.
FIVE SECRETS TO BUSINESS SUCCESS
There are five essential abilities you must develop to succeed in business of any kind.
Here are the secrets to starting your own business successfully
and also essential for you
to make the most beneficial contribution
you can make to the company you work for.
You can learn each
of these skills while you work.
You can learn them
by moving from one position to another
or from one company to another for your career growth.
Plan, organize and get results
The first competency you need is the ability to plan,
and get results.
This is the highest-rated
and highest-paid competency in America.
The ability to achieve results and take responsibility
for results at your company is the hallmark of high achievers.
You should always ask yourself,
“What results do they expect from me?”
Keep an eye on your company.
What results are the most important reasons for the success of the business?
Who are the most admired and what are they doing?
Keep asking yourself,
“How can I increase my ability
to get the most important results my company needs to succeed?”
Go an extra mile
The secret to business success,
or someone else’s business,
is to do more than you’re paid for.
Always be ready to go the extra mile.
Remember to never get stuck in traffic for the extra mile.
When you volunteer to do more than you’re paid for,
more than your boss expects,
you’ve created yourself a guardian angel.
You make people who can help you care about you.
You open doors for yourself
that remain closed to people
who do not achieve outstanding results.
Since the average employee just does what they’re told to do,
they don’t do anything else,
when you start going the extra mile,
you’ll stand out.
Let’s exploit the owner.
Treat your job like a room
experiments where you can learn all kinds of skills from other people.
Do everything voluntarily.
Offer to take on more responsibility.
Work harder than usual.
Every skill and experience you gain in the workplace will accumulate
to make you more useful
and successful in the future.
Market and consumption
You need to be able to communicate,
and sell products and services.
The most important reason
for the success of any business is high sales.
The main reason for the failure of any business is low sales.
The more influence you can have on total revenue and working capital,
the more useful and important you become to your company.
Whatever your position,
decide today that you are about to learn how to sell effectively.
Read books on the subject.
Attend courses and seminars by professional business trainers.
Join Toastmasters International (a public speaking group)
to learn how to express yourself in language
that will make a big impression in front of a crowd.
Look for opportunities to make sales
or to focus on your company’s business activities.
Over the years,
I have presented seminars to more than 500,000 professional traders.
Many of them started out as accountants,
truck drivers and defense personnel.
They often tell me that at first the idea of going into sales scared them,
but at the time they couldn’t get another job.
You can learn how to sell
However, soon they understood that selling was a skill,
like riding a bicycle or typing on a keyboard,
their attitudes about themselves
and their prospects changed.
In a few months or two years,
by practicing basic sales skills,
many of them become incredibly successful
and make a lot more money than before.
Some of them go on to open their own businesses
and many of them become millionaires.
Become a good listener
85% of your success in life,
both personally and professionally,
will be determined by your ability
to get along with others.
The more you become able to ask good questions
and listen attentively to answers
and persuade people to cooperate with you,
the more influence you will have on those around you
and the more influential you will become.
more valuable and following are all the skills
that can be learned.
Choose the right person
To be successful in business you need to be able
to choose the right people and form effective teams.
The ability to find people to collaborate
and work together
to achieve common goals is considered the most important skill for promotion.
Every CEO of a Fortune 500 company started off
as a junior employee and not an officer.
By learning how to influence one person for good at a time,
they are soon made an assistant
or held in charge of organizing others into teams
to achieve certain business results.
The better they worked with the party,
the more responsibilities they were given along with a higher salary.
When you demonstrate your ability
to work well with one person,
you will quickly become a supervisor and then a director.
At each career stage,
as you demonstrate your ability to get results through others,
you will be promoted
and even assigned to manage more people
and accomplish greater results.
You will eventually become the chief executive officer,
and then the leader in your organization.
Proficient in the job
When I was 24 years old,
I took a direct commission sales job,
going from office to office during the day
and at night going to customers’ homes.
I read everything I could find on my way to sales,
listened to business tapes day and night,
and consulted everyone who had come before me in my field.
In less than a year,
I learned how to sell effectively.
I increased my income,
and then doubled it again.
It wasn’t long before I was asked to do the job of recruiting
and coaching new people,
by telling them what I had learned.
Soon they also successfully sold.
This experience changed my life.
Within 2 years,
I have built a successful sales force
of 95 people operating in 6 countries.
I have strived to get rich by myself
as a professional salesman.
I had to live from a cramped house
to a beautiful fully furnished apartment overlooking the city.
I had to worry about making money every day
to never bring in less than $1,000 in $20 bills.
I see my success as simply a matter of first learning
and applying sales skills
and secondly team building skills.
You can also learn these skills.
Become a good negotiator
You need to be able to negotiate well on your own behalf.
All successful business people are good negotiators.
They know how to ask for a higher price when they sell
and offer a discount when they buy.
They develop the ability to negotiate
and resolve conflicts among the people they work with.
They learn how to negotiate loans,
loan terms and conditions
with bankers and financial providers.
They learn how to negotiate payment terms
with suppliers and sellers.
They learn how to negotiate business with customers.
They can arrange work assignments,
responsibilities and wages with the staff.
To be successful in business,
you must be an excellent negotiator,
otherwise you will always be rejected by others to negotiate.
Luckily, negotiating is a skill that you can acquire through study.
You can read books,
listen to radio programs,
and attend negotiation seminars.
You can learn from the best people in your business,
and then put it into practice whenever you get the chance.
Perhaps the most important word in negotiation is the word ask.
Get in the habit of asking what you want to know,
and if the first answer isn’t enough,
ask about something else.
Ask for more favorable prices and terms.
Ask for better conditions.
Ask for better airplane seats and ask for better hotel rooms.
By developing the habit of constantly asking about what you want,
you will eventually become an excellent negotiator in every area of your life.
Proficient in numbers
An understanding of accounting,
and cost control will help you succeed in business.
Is it surprising that yes?
How many people have built successful businesses in the early days
by making significant sales of their products and services,
but by the end of the day have lost all their money
because they did not understand the principles of the numbers in business.
Incidentally, most business owners just have a financial perspective rather
than a thorough understanding of it.
They focus more on people,
and sales than they pay attention to the financial statements.
However, financial management is a basic skill
that you can learn without much difficulty.
You can then hire a qualified accountant and bookkeeper
to specialize in reporting these numbers.
But you also have to be able to read them
and interpret them for yourself.
You don’t have to be an accountant.
But you must know how to read financial statements.
You must understand the difference
between gross income and net profit.
You must understand the difference between fixed,
variable and semi-variable costs.
You must learn how to keep track of accounts receivable
and accounts payable.
Above all, you should always keep abreast
of the cash flow in your business.
This is the deciding factor for success or failure.
To start and grow your business,
you often have to borrow money
and arrange credit from your bank.
Banks are in business to make secured loans.
The completeness and accuracy of your financial projects
and loan applications will largely determine whether
or not you get the money in the first place.
In fact, many businesses are forced to close
because the business owner is not able to combine
with the loanable capital of the bank.
Success in business comes from really trying
Following are the 5 necessary conditions for business success:
First, you must develop the ability to plan,
and achieve results.
Second, you must develop your ability to sell,
and influence others effectively.
Third, you must develop your ability to choose the right people
and form effective teams.
Fourth, you must exercise your ability to negotiate on your behalf
and represent your business.
Fifth, you must know how to read financial statements
and develop an understanding of bookkeeping,
business accounting and finance.
The good news is that you can learn all of these abilities
through on-the-job training.
You can learn all of them
while you are working for another business.
USE WORK WORK POWER SOURCE ON
What you can’t learn at work,
you can master at work.
Your job can be seen as a future entrepreneur training program,
a college where you learn the skills you need to get rich in later life.
While you are working, you have 4 advantages.
First you get paid.
Second you have time.
Third you get access.
And most importantly,
you gain experience.
Take advantage of every opportunity you can
from a salaried job to learn what you need to know,
preparing you to go out
and start your own business later.
RESEARCH IN DETAILS
As you gain knowledge and experience in the workplace,
start gathering information about different businesses
until you find the one you’re most interested in.
Subscribe to magazines,
Entrepreneur and the Wall Street Journal.
Read the business articles of the daily newspaper from beginning to end.
Think about the business world.
just an idea,
a thorough understanding,
an article you read somewhere will make you see an opportunity
to change the direction of your life.
Once you’ve chosen a business you like,
the first thing you do is learn about it in depth.
Survey before you invest.
Before you put your time or money into a business,
learn everything you can about it.
Alex McKenzie, a time management expert, once said,
“The wrong grasp is at the root of all failure.”
Peter Drucker said,
“Action without thinking is the cause of all failures.”
In both cases, untested capture
and half-baked information can lead
to disastrous mistakes for the business.
Implementing the principle 10/90
Typically, the first 10% of the time you survey all details
of the business will save you 90% of the time
and money you can invest or lose later.
Take time to learn exactly which products
or services meet customers.
Learn how to develop,
delivery and payment.
Understanding the economy of the nation
and the profit and loss of the business.
Especially take the time to understand customers especially
for a product or service.
Why do they buy?
What value do they target?
How much does that product
or service improve their lives or work?
Find out which one
and the competitors about that product or service.
What do customers buy today?
Why do they change from their current supplier
to you and buy something else?
Research from successful companies
When you are interested in opening a business,
take time to research existing companies in that business.
Why do they succeed?
Why do they fail?
What are they doing right?
What are they doing wrong?
In each business,
20% of companies earn 80% of profits.
Know the leading companies
and determine exactly why they succeed.
Once you have determined
why some companies are successful and some will fail,
take the time to offer a comprehensive analysis.
Analyze the reasons for success
and reasons for failure.
How can you improve the product,
service or business?
How can you make your products
or services so attractive to customers that they will prefer
to buy your goods than buy from others?
It is often said that you only need
to improve the existing product or service to 10%,
you can start a new business.
You only need to get the new,
different or high quality 10% to start the path of success and full finance.
5 principles for business owners
The role of the business owner is to skillfully find solutions
for problems that can be profitable.
All successful businesses,
successful business people are the one who can identify the problem
and have a timely solution for that before others find it.
Here are 5 principles to succeed.
Find a need and satisfy it
You can find a need and satisfy it.
Human needs and wants are endless.
So the opportunities for business owners
and for financial success are also endless.
The only constraints on the opportunities
for business that can happen
to you are the limits you place on your own imagination.
Ross Perot is a leading salesman for IBM.
Many of his customers complained that they needed help processing
the massive amounts of data stored in their IBM computers.
Ross Perot went to his superiors at IBM
and asked them to open a data processing business
in addition to the hardware business.
They rejected his opinion and rejected him outright.
His superiors at IBM told him they were not interested
in diversifying the computer business.
He quit his job and went out to work on his own.
With his mother’s $1,000 capital,
Ross Perot visited many of IBM’s clients
and offered to handle all of their data needs.
He offers these services for less than the companies are paying
and splits any savings in the 50–50 scheme.
Finally, one of his clients chose his quote
and advanced him the amount needed
to set up the first data processing system.
And the system worked.
Ross Perot went on to build Electronic Data Processing,
later known as EDP Industries,
which processed data
for companies across the United States.
He eventually sold EDP for $2.8 billion to General Motors,
becoming one of the richest people in the world.
He found the need and fulfilled it.
Find the problem to solve
You can find the problem to solve it.
Whenever there is a customer problem
that is unresolved and widespread,
there is an opportunity for you
to start building a successful business.
In the old days, before the copier,
the only way to make multiple copies of a letter was
by placing carbon paper between sheets of typed paper.
But a single mistake will force the typist to go
through everything to remove it from every copy.
This is downright clumsy and time consuming.
Then a clerk working
for a small company in Minneapolis started mixing flour with nail polish
to erase her typographical errors.
It wasn’t long before her friends from the same office asked
if she could make them this bleach or not.
To satisfy this need,
she began mixing flour
and nail polish in small bottles on the kitchen table.
It wasn’t long before people in other offices started asking for it.
The demand became so great
that she eventually quit her job
to start producing around the clock what she calls “Liquid Paper”.
A few years later,
Gillette Corporation came to buy her company for $47 million in cash.
There are problems everywhere.
Your job is to find one of these problems
and solve it better than the problem that was solved before.
Find a problem everyone has
and see if you can think of a solution to it.
Find a way to provide a better,
faster or more convenient product or service.
Use your imagination.
A few years ago,
a man named Clemons Wilson took our family on a road trip.
He was frustrated when he couldn’t find a hotel
that could accommodate traveling families.
He gathered all his savings,
the savings of friends and family,
and opened the first Holiday mini hotel.
That worked right away.
Today, the Holiday mini hotel is one of the most successful hotel chains in the world
and Clemons Wilson has since retired to become a very wealthy man.
Focus on customers
The secret to business success is to focus on the customer.
Become obsessed with your customers.
Become attached to your customer’s wants,
Always take care of your customers.
Think about what your customers are willing to pay for.
Think about customer problems.
Treat yourself as if you were working for your client.
Such an obsession with customer service is the secret
to the success of business owners in every business.
Even Sam Walton,
founder of Wal-Mart Stores
and the richest man in the world, has said,
“We all have a boss,
that is the customer.
And customers can fire us anytime they want simply
by doing business elsewhere.”
Rise on your own path until success
Once you’ve come up with a problem or idea,
resolve to invest your time,
and energy instead of money to get started.
Most of the great individual businesses in America begin
with ideas and with the consumption of personal services.
Most great ventures are started by people who don’t have the money,
They are started by individuals who come up with an idea
and then put their whole heart into producing a product
or service that others will buy.
This is known as “sweat and tear capital.”
Instead of investing cash to start a business,
invest your sweat and tears.
Invest with your sweat and tears to get started.
If you have little capital or nothing,
find a way to buy something for the lowest price
and sell it for a profit.
This way you will generate positive cash flow
and lay the foundation for business success.
Many of the wealthiest people in America,
both men and women, started this way.
Go before you run
To achieve success in big business,
you must first achieve success in small business.
To sell a lot of high-priced items,
you must first sell a few low-priced items.
My first business was selling soaps
for 50 cents each with home delivery.
My second business is selling newspapers upfront for $1.75 a week.
My third business is selling tree coupons
for a whole set at $2 off.
I became the most successful person
when I started mowing the lawn around my neighbors for $2.50 each time.
Big trees grow from tiny seeds.
You can start directing the success of your business
with a side income opportunity.
Since all of your success will ultimately be rooted in your ability
to sell products and services,
the sooner you learn how to do that,
the quicker you will succeed.
Some people start their businesses
by buying items on weekdays
and selling them on weekends at flea markets and bartering.
Others first go to the auto repair shop in the morning in a pickup truck,
pick up all the best items at the lowest prices,
and then sell the auto parts in their garage once a month,
where they sold everything they got for a higher price than they bought it.
Thus they learn to buy and sell.
They learn to negotiate to buy low sell high.
They learn to socialize and negotiate.
They learn how to choose products
that will sell for high prices quickly.
Ready to pay
The only way to great success is to try.
The only way to succeed is to fail
and know success by your failure.
The only way to learn to be successful in business is to actually do it.
If you don’t do the real work and pay the price,
you’ll never get the full experience to succeed.
If you don’t take the extra time needed to learn basic business skills,
you won’t stand a chance of outperforming the higher bidder.
Perhaps 95% of American workers would be able
to open their own businesses
if they learned how to do business and tried to do it.
Business success rests on a wide range of strategies,
combinations and methods,
all of which can be learned.
There are more than 23 million American businesses,
with more than 1 million new businesses starting each year.
Perhaps you can open a new business faster,
easier, and for less money in the US than in any other country on earth.
Anyone can do that.
NETWORK MARKETING OPPORTUNITIES
Multilevel or network marketing is the best side income opportunity.
Millions of people around the world will exploit the multi-level marketing offer
to start building a successful business fast and inexpensively.
They use the base of the network marketing business
to learn important business skills for a low price.
Network marketing is both maligned and misunderstood.
Like any business,
network marketing opportunities are both good and bad.
But the business model itself has been tested
and proven to be successful around the world for more than 50 years.
It works for anyone willing to invest the sweat
and tears necessary that any business needs.
A form of network distribution
In its simplest terms,
network marketing is a form of distribution,
just like retail,
and Internet sales.
Network marketing is a way of exploiting a product
or service from the manufacturer
or from the promoter to the customer.
The price structure from manufacturer to retailer is divided
by the number of different people participating
in the network marketing channel.
if a product has a retail price of $10
and the manufacturer’s cost is $2.50,
the difference of $7.50 is spent on marketing,
packaging and delivery.
In network marketing,
this difference between the cost of production
and the retail price is divided
among the different distributors participating
in the product sales chain.
When you start network marketing,
you earn a commission of 25% to 35% of the retail price
of the product to the customer.
When you increase your sales volume
or recruit more distributors who achieve certain volume levels,
the percentage of commission
you receive can increase to 40%, 45%, 50%, and so on cloud.
You earn an outsourcing commission on the sales
of people below you whose business volume is not high enough for them
to qualify for a higher commission than you are earning
(if the distributor below achieves high sales will help you
to increase your level according to the distribution network
and earn commissions according to them).
Everyone benefits; no one lost anything.
Start with little capital and grow gradually
In network marketing, you get the chance to start a small business,
usually invest a few dollars to buy a set of samples,
then take the products
and orders to your friends
and neighbors to recommend,
then you proceed to buy products from distributors
to deliver to them.
In the process, you learn the business skills of selling,
Probably 85% of what you need to know to be successful in business
you can learn from running a successful MLM business.
Many people have the notion that it is too good
to trade compact products with those around them.
These people are often surprised when they find that doctors,
architects, and other professionals are too busy
building successful multi-level marketing businesses,
generate additional sources of income for themselves and their families.
Ready to do anything
One of the hallmarks of self-made millionaires is
that they are always willing to do whatever
it takes to get ahead.
They always willing to do what is known as “vile work.”
They are willing to do mediocre services to help their clients,
especially when starting out.
They are ready to roll up their sleeves and get to work.
They are willing to pick up the phone to transact business,
package, deliver products to individuals
and keep the accounting records related
to all transactions large and small.
Those who end up becoming financially successful
never think they’re too good at anything.
They acknowledge that every success comes with a price
and the sooner they pay the price,
the sooner they can achieve the expected financial well-being.
Whereas the novices at the lowest level think they are too accomplished,
they will never succeed and eventually in old age they fall into poverty.
They are still at the bottom.
8 qualities of a good business
If you’re considering a network marketing
or multi-level marketing opportunity,
there are 8 key factors you should look for
before you make your choice.
Some of my close friends are now multi-level marketing millionaires.
When they started, they spent months traveling all over the US,
scouting for multi-level marketing business opportunities.
They meet the key people,
test the product thoroughly,
consult the product information with others,
and ask for information from friends and consultants.
In the end each of them found the right company
and the right opportunity for them,
and then they put all their determination into it
until they achieved business success.
In a few years,
they have built up a domestic
and international distribution network,
generating millions of dollars in sales every month.
Here’s what you need to look for.
Quality products have a good reputation
Find a multi-level business that has quality products with a good reputation.
Never try to sell anything
that is not very good quality to waste time.
No successful business can rely on average
or mediocre quality products.
Choose a product
or service that is equal to
or better than any other similar product at a comparable price in the marketplace.
Every product to be successful must have something called an exclusive offer (USP).
It must have some special properties
that give it a distinctly higher quality
than any other product in the same category available.
If the product or service you are considering is not of high quality
markedly superior in some important way,
it will never succeed in the long run.
Reasonable and competitive price
Second, it is more advantageous to find a company
with a fair price compared to a competitive one.
No one will pay a higher price for your product
or service if they can get the same product
or service elsewhere for a lower price.
So you need to compare prices carefully.
Unfortunately there are hundreds of companies that try
to sell low quality products at unreasonably high prices.
There are some people who think
that product quality is not important.
They firmly believe that people are only interested
in the “business opportunity” above all else.
But according to financial analysis,
customers in the marketplace
will determine the success or failure of any business.
And customers are very sensitive
to how much they pay compared to other products.
Money back guarantee
Third, every good network marketing company
offers a 100% unconditional money-back guarantee.
This means that the company feels certain about the quality of the product
and the level of customer satisfaction that the company is willing
to buy it back no matter what.
The company is willing to refund 100% of anything they sell.
This is one of the most important principles
to succeed in business by multi-level marketing or in any other field.
The best network marketing companies offer
what is known as an “empty barrel” warranty.
This means that you as a customer can buy the product
and use the entire contents of the box.
If you are unsatisfied for any reason,
the company will give you a 100% full refund
with an “empty box” warranty of up to 1 year
from the date of purchase.
In today’s fiercely competitive multi-level market,
it’s hard to sell anything unless it includes this type of warranty.
Requires little capital
Fourth, today’s best network marketing companies require little or no capital.
This means you should be able to open a network marketing business
with a little capital,
usually no more than $100.
For many years there have been multi-level marketing companies
that conduct a business called “garage loading”.
They usually give digital discount
volume, thus potentially providing high returns
for newly opened distributors to buy their products in bulk
even if they have been retailing before.
Many ambitious young business owners end up filling their garages
with products they can’t sell at any price.
A good network marketing company will focus on retailing
to consumers who consume products.
Good companies don’t give incentives
and often they don’t let people buy more products than they can retail.
These companies do not allow people
to afford higher discounts simply by buying a product
in bulk before the actual sale.
You’ll find this workaround
with a network marketing opportunity
that you scrutinize.
Fifth, a good network marketing company delivers products
to your orders quickly and keeps up-to-date internal accounting records.
You can order from the company’s sample
and the company will ship it to you
or directly to your customer within 48 hours.
the company will track sales,
offtake commissions and provide you
with accurate financial statements every month.
More and more multi-level marketing companies are offering “automated shipping”
which means that you
or your customer automatically receive a certain number of items each month,
often billed to a credit card.
This method is always chosen
because it reduces paperwork
and administrative management significantly.
Strong support organization
Sixth, find a strong support organization.
Choosing an organized network marketing company is very important,
it will provide you with training in every aspect of your business.
Try to find a company
that gives you regular seminars on effective business
and product knowledge.
Look for sponsors (spirit sponsors)
and strategic items
that will provide you with motivation
and opportunities for personal and business growth.
Many people start their careers
with network marketing companies
and they have gone on to become very successful in their business
because they received training from the network marketing organization.
The best network marketing companies have very good training systems.
The main reason for success in network marketing is having knowledge and
skills required for business management.
Failure is always due to not having these necessary skills.
If the company you’re interested in doesn’t have an organized training system,
try finding another company that does.
Honesty and integrity at all levels
Seventh, look for a company with integrity and integrity at all levels.
Make sure that the parent company has a good reputation
and does not suffer from defects in the market.
Be sure of a company you can be proud
to represent and let your friends know.
You should never have regrets about the company you are working for.
Refer to the company
as you would contact respondents about a new employee
you are considering hiring for your business.
Go to the Internet and contact someone
who worked for that company before.
Do your research before you invest your time and money.
There are individuals
who start one network marketing company after another,
hire inexperienced people or make false promises,
load their garages,
and then move on to the idea.
These companies all have one thing in common:
They promise an easy
and quick way to make a lot of money in a short time.
Don’t believe them.
Selling consumer products
Eighth, this necessary condition is very important.
The products you sell in your network marketing business must be consumable
in order to continue to receive repeat orders and repeat transactions.
You should sell products that people regularly use,
like smoothies (in the form of nutritious foods),
home maintenance supplies or beauty products,
so that if customers are happy with your product
then they will continue to order again month after month.
When you create satisfied customers over and over again,
you will often be able to keep them for many years.
Over the years I have worked with
and used the products of many network marketing companies.
Some of them are excellent.
the best companies score high in the eight factors just discussed.
They are happy to work with you
and can provide you with the opportunity
to start from scratch,
develop business skills,
generate positive cash flow
and start moving towards financial well-being.
MONEY IN THE WINNER