Zero 2 Rich

Investing to One Million Dollars or Bust!


All Fortunes Begin With an Idea! by Damien Senn

A new idea is merely the combination of two or more old ideas. The creation of a new idea is the critical first step in establishing any business.

People who dream of setting up their own business but don’t succeed, generally fall into one of three categories:

  1. too few ideas

  2. too many ideas or

  3. waiting for the ‘perfect idea’.

Any of these three states of mind may hinder the budding entrepreneur.

‘Would be entrepreneurs’ with too few ideas.

These individuals typically say "if only I had ‘an idea’ for a business."

Just remember that if you say you don’t have ‘an idea’ it really means you have ‘no-idea’! If this applies to you, you need to get cracking on that ‘first idea’ fast! As soon as you are able to dream something up, you’ll have the essential ingredient that all successful businesses are built upon.

‘Would be entrepreneurs’ with too many ideas.

Can you ever have ‘too many ideas’ I hear you say? Well if your creative process leaves you feeling overwhelmed for choice then it’s definitely a possibility! Many highly creative people experience inertia in business purely because they have so many ideas. They don’t know where to start or which idea to implement first!

If you fall into this category, just pick one of your ideas (it doesn’t need to be your best one!) and begin to mentally develop it further. Consider the first key steps you need to take to push your business idea forward. Remember that you don’t have to have a 100 page business plan or a fully formed idea before you can start taking action! All you need is a little focus.

‘Would be entrepreneurs’ waiting for the perfect idea.

This is the equivalent of expecting to know how to swim once you’ve found the perfect swimming costume.

If you fall into this category, even if you do manage to find the ‘perfect idea’, ask yourself whether or not you are going to have the right skill base to get it off the ground. Many successful entrepreneurs have failed many times before their ‘perfect idea’ came along. It is through being prepared to fall down and stand up again that you develop the tenacity required to succeed in business.

Stay Ahead of the Game.

Whatever your circumstances, whether you are in business already or looking to start a business, creating ideas and being innovative will help keep you on top of your game. The way we are doing business globally is changing at such a rapid rate that if you don’t consistently innovate, you will soon be out of business.

Cultivate your Innovation skills.

All the entrepreneurs that I have met have been ‘possibility thinkers’. By this I mean they keep their minds open to new opportunities and new ways of thinking. The best way for you to cultivate this ability within yourself is to spend time around other creative thinkers. Challenge each other to innovate.

A Simple Idea Creating Exercise.

Two nights ago I had a brainstorming session with a couple of entrepreneurial friends over a meal. We did a little 5 minute exercise where each wrote down as many ideas as they could on how to create a million pounds within a year. The quality of the initial ideas was absolutely irrelevant. What was really valuable was what came afterwards, when each person read out their individual lists and we discussed how these particular ideas could work.

We had a lot of fun, a lot of laughs and generated a couple of really great business ideas (as well as plenty of ordinary ones!), purely by focusing our brains to answer a simple question.

So how many entrepreneurs does it take to change a light bulb?

Well I’m not entirely sure on the answer to that one! But I do know how many ideas it takes to start a business…

Just one.

Copyright Damien Senn 2005. All rights reserved.

About The Author

Damien Senn is a Life and Business Coach as well as a fully qualified Chartered Accountant. He helps professionals, artists and entrepreneurs create compelling futures.

He is the author of the ‘Senn-Sational Success Journal’ and has developed his own coaching model called the ‘Senn-Sational Success System’.

For your free life coaching tool ‘101 things to do before you die’, please click the following link:

12 Tips For Getting The Most Value From The Cashflow 101 Game by Leon van der Walt

Robert Kiyosaki’s Cashflow 101 game is a great learning tool. The following hints have been compiled so that you can get the most value you possibly can from the game. These tips apply to real life as well, so keep your heads up.

1. Don’t cheat. The purpose of the game Cashflow 101 is for you to learn so if you cheat you learn to cheat. Why make money illegally when it is so easy to do it legally?

2. Read the rules. You should especially read the three-hour millionaire piece on the back of the Cashflow 101 rulebook. See also Robert Kiyosaki’s Hot Tips page that comes with the game. Know the legal side of things and listen to the advice of professionals.

3. Find learners to play it with. Find people who want to learn more about investing and money to play with. It is wholly different to play with people with the same money and financial interests, than family and friends who play with you because no one else would. Some action is better than none, but better yet is someone motivated to the action for his/her own personal reasons.

4. Know there will always come another deal. If you haven’t got interest in a deal at this very moment, know that the next deal of the decade is around the corner (or the next card in the deck).

5. Investigate your options. Don’t let a shortage of cash let you out of great deals. There are other people in the game that might be interested in the deals only you’ve got access too.

6. Learn to share. Share deals – split the cost and the return if you feel the risk of borrowing the money is too great.

7. Understand the power of leverage. If that $1 deal comes along and you don’t have any cash, borrow if you must, but take it. This is just one example of how you can leverage of the bank’s money for extraordinary returns.

8. Have backup in a calculator. Yes, you might know your sums pretty well, but it does not hurt to have a calculator handy for estimating how long it will take you to get out of the rat race.

9. Understand potential of grey areas in rules. Yes, rules and laws do not cover everything so there might be some loopholes. But rather than using loopholes, set up a contract that at least two parties can agree to that is a win-win situation for both. Do not see the absence of rules as an obstacle, but rather see it as an opportunity.

For the advanced player:

10. Play it real. Change the job cards to the actual jobs that some of your Cashflow circle members has and see how different people would get out of your financial situation. Example: Job Title – Store Checkout Clerk, Salary $1,500, Taxes $300, Monthly Cashflow $150, etc.

11. Play it real II. Change the Big Deal, Small Deal, Doodad and Market cards to reflect situations that you have been in personally, or where you might land in. Example: Market Card – Lose all assets due to litigation; Doodad – Buy new computer for $1,000 monthly expenses goes up by $150; Small deal – Buy stock in a small-cap company (market card might either quadruple your money or lose your whole investment); etc.

12. Teach and learn. There is always some area where you will be better in than others – why don’t you teach them how they can get better at it. Give and then receive. Allow others to teach you in areas where they are more skilled than you.

About The Author

Leon van der Walt is an aspiring netrepreneur in the fields of inspiration and financial freedom. Leon has a masters degree in quantitative risk management and when not working on the Net is a bank employee. He strives to continually improve himself and is focussing on increasing financial literacy.

Copyright 2005, all rights reserved. Reprinted with permission.

The Person With The Most Money Wins! by John Michael

The person with the most money wins! This phrase has been used repeatedly but not by the wealthy but by the poor “The have not’s”.

Money is not the only or even the most important thing in life.

You number one goals should be when it comes to life is:

  1. Good health

  2. Take care of Family

  3. Ability to enjoy life

  4. Happiness both for yourself and others around you

The above should be at the top of the list of any goal you have. However, wealth does make substantial improvements to each of the four areas of life listed above.

More money can mean better:

  • Health Care

  • Relaxing Vacations and Adventures

  • Education for your children or yourself

  • Better home than you have now

Best of all it can reduce stress from not having to worry about money!

Many of us have problems in life that additional cash will help solve the situation. Did you know that 80% of problems in life could be simply resolved with additional cash.

Your first step to becoming financially secure is getting involved in real estate as an investor. Now you must take the next step “Stop chasing money”.

John Michael, the founder of Stealth Educational Services has a vary simple but phrase he loves to use

Money has twelve legs and you have two – It will always out run you when you chase it.

Fundamentally, there are two areas to focus on to build wealth and generate cash.

  1. You must develop skills and strategies to reduce your expenses along with maximizing your life style.

  2. You must develop skills and strategies of generating additional revenues.

You will need to learn how to use:

OPM – Other Peoples Money

OPT – Other Peoples Time

We all have life expenses such as:

  • Food – Meals

  • Auto Insurance

  • Auto gas and oil

  • Rent or Mortgage payments

  • Along with other purchases

You easily spend $2,000, $5,000, $10,000, or even more every year on these expenses.

Did you know that for every dollar that you make tax deductible you can receive approximately 15¢ to even 50¢ back from the government and yes it all depends upon your tax bracket and tax rate. The easiest and fastest way to get tax breaks you will need is to simply start a small business.

As a real estate investor, you have a small business!

This should be your goal for your financial strategy as a real estate investor over the next 12 months:

  • $50,000 to $100,000 income from real estate investing

  • Cut your tax bill in half

  • Reduce your auto insurance by 1/3

  • Save $1,000’s on your next purchase of a car

  • Reduce your food cost by 10%

  • Decrease your health cost up to 20%

  • Open your KEOG retirement plan

  • Improve your credit

  • Protect and shield your assets

Just to name a few.

You may have to work full time and do real estate investing part-time for several months until you get the ball rolling. You will need multiple sources of income to become successful as you grow and start your carrier as a real estate investor.

Let me give you another set of goals that you should shoot for as well:

  • Build wealth in real estate

  • Develop multiple sources of income and residual income

  • Make money while you sleep

  • Develop a profitable real estate investing business

  • Earn at least 15% on your investments

  • Use your real estate investing business for tax deductions

  • Use compounding of money and time to build wealth slowly

  • Become worth more to an employer until you are able to fire them

Stop chasing money, it is not how much money you “earn”, it is what you “learn” to do with the money that matters.

You must have a good plan for building wealth!

More wealth and cash can make life more exciting, dynamic, and fun.

“Daring ideas are like chessmen moved forward. They may be beaten, but they may start a winning game.” By Johann Wolfgang von Goethe

About The Author

John Michael is the author of “Getting Started In Real Estate Investing” In addition, you can review his book at:

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