Wednesday, September 27, 2006

Power Investing

When I start talking to people about Rich Dad and creating passive income to enable time and financial freedom, I immediately hear about people's plans for buying real estate. I try to listen patiently as I also believe that real estate can be a great investment vehicle ... but, as Robert Allen, Robert Kiyosaki, David Bach, and many, many more outline, having multiple streams of passive income is the true path to financial freedom.

So, what is RK's power investing principle?

1--Start a part-time business for the cashflow & tax advantages.
2--When the market is right invest in real estate. (Now is not the time.)
3-- Invest your excess cash from the real estate in paper assets.

Unfortunately, a lot of people are jumping into real estate without a lot of background knowledge about how to make that investment a lucrative one. Here's a clue, the property needs to generate passive income (that means it should be putting money into your pocket not taking money out).

When we were doing our personalized coaching program, one of the first steps was identifying how we were going to generate passive income from a number of sources; businesses, real estate and paper assets. The reason for this is to create a stable platform on which to build financial freedom you need all the elements ... and the first is to build a business.

Businesses provide the financial backing to support real estate investing. Makes sense right?

RK recommends learning a system, mastering it and then moving on to learning a new system. Start by learning the system of building a passive income business. (A passive income business is one that you could leave for a year and return to find it stronger than when you left.) Then, move into the business of real estate investing, learn the system, master it and then move on.

Taking it step by step will lead to prosperity and reduce your risks along the way.

About the Author:

To find the best home based business ideas and
opportunities so you can work at home visit:

Monday, September 25, 2006

Lattes Anyone?

Does this sound like a strange topic for my blog? Well, I'll take a Tall, Skinny .... We all have our morning routines. Drive through coffee before sitting in gridlock, lunches out on Fridays with the office, drinks on Saturday with friends ... We have the things we spend money on, without even thinking of it. Have you ever stopped to think about how much you spend on these little routines ... it's just 1.25 for a coffee right? Have you added that up over the course of a year?

It's funny how we scruntinize in minute detail the money spent on building a business, buying a business or promoting a business but the order for a Latte is flying out of our mouths without consideration.

David Bach called this the Latte Factor ... for all those people who think they don't have money for a business, don't have money to invest, don't have money to make a better future for themselves all have one thing in common ... everyone has a latte factor.

Here's the deal I've made myself. For every Latte Factor or in Robert Kiyosaki's words, Doodads that I purchase, I make an equal contribution to three funds: savings, investing and tithing (more on this in a later post). That way, I really think about the things I am buying because it will cost me double ... once for the latte and once for the rainy day fund.

If you take the time to review your savings and your expenses, you might be surprised at how much money is slipping between your fingers. The trick is, once you identify the money, is getting it to work for you. And by working for you, I don't mean putting it into a savings account and watching it NOT GROW. I mean putting it into something that will generate long-term passive income.

So lets recap: identify your latte factor, know what you are spending on and try to divert it to other productive purchases ... then, invest those funds in a business or investment that brings you closer to your goals for early retirement.

About the Author:

To find the best home based business ideas and
opportunities so you can work at home visit:

Sunday, September 24, 2006

Who do you hang with?

Look around you. Who are the people you spend the most time with? Are they entrepreneurs, employees, investors or business owners?

Robert Kiyosaki says the people you spend the most time with, are already in the quadrant you will end up in. Does that mean to move from one quadrant to another you need to change your friends. Not necessarily ... but it might mean you need to expand your circle of friends to include people in the quadrant you want to enter.

How do you do it? Join a club, take a course, go to a seminar. The more activities you undertake that introduce you to people who are interested in the same investing opportunities as you pursue. By doing this, you'll expand your circle of friends to include others who have interests in the same areas you are moving into.

Another way to expand your circle of friends is to see if there is a CashFlow Club operating in your city. For those who are new to Robert Kiyosaki, CashFlow is a game he developed to teach financial literacy. By playing CashFlow you can learn the skills needed to get out of the rat race ... and by playing with others in your community, you will network with people trying to be financially free, just like you.

Let me be clear: You don't have to shed all your old friends just because they are Es and you want to be a B. What I am saying is that to grow into the business owner and investor you want to be, you need to start networking, connecting and learning from others who are already where you want to be.

I will also offer you a word of caution. If the people around you are pulling you back into your old ways and holding you back from becoming the person you want to be, you should limit your exposure to them. When you are starting a business, you experience many days of self doubt and you need people around you who would be more apt to offer encouragement and support than criticism and skeptism.

Look around you today. Are the people you spend the most time with in the quadrant you want to be in? If the answer is no, you might want to expand your circle of friends to include a few new friends.

About the Author:

To find the best home based business ideas and
opportunities so you can work at home visit:

Thursday, September 21, 2006

Wishing or Desiring ... one wins, one doesn't

Do you wish you had more money, wish to win the lottery, wish for business success, wish for .... insert dream here.

If you spend all your time wishing, you won't get there. You need something deeper.

In Think and Grow Rich, Napoleon Hill says: "Wishing will not bring riches. But desiring riches with a state of mind that becomes an obsession, then planning definite ways and means to acquire riches, and backing those plans with persistence which does not recognize failure, will bring riches."

This is a powerful statement. It synthesizes all the elements you need to gain the riches you desire. Not only does it cover the desire (why), but puts steps in place to get where you are heading.

I think this is the greatest and overlooked element of a home business ... planning. So many people start out in business with a vague goal (translation wish) that they are pursuing. They have a vague plan to get there but no plan to handle obstacles ... and certainly not a plan that does not "recognize failure."

The how of a plan that does not recognize failure is harder. It involves digging deep inside to find the strength to continue on your path without letting disappointment smother you. You need to address contingencies ... how you will overcome challenges, and I would argue it includes a list of coaches and mentors you can call for help and support.

While we are all independent business people, we are not in business alone. Robert Kiyosaki says investing is a team sport. He's right. You need a strong team around you to be able to succeed. You team should be made up of professionals but also mentors and coaches who can provide you with guidance and support as you grow ... both personally and in business

About the Author:

To find the best home based business ideas and
opportunities so you can work at home visit:

Wednesday, September 20, 2006

Don't get discouraged!

Have you ever gotten discouraged? You start off with a bang, that fizzles.

Here's the good news ... it is normal. I would argue that if you ask anyone who has either built a business or changed their life if they felt discouraged from time to time, the answer would be a firm YES.

The measure of your ability to ultimately succeed is your ability to battled back from setbacks. Long term success will be realized when you overcome obstacles and keep you eye on the prize. As a side note, this is also the time when you should be reading your manifestations (your why) every day at least once so you can remember why you are doing this.

Common causes of discouragement include results that don't match up with your goals, people around you saying no (or telling you that you are crazy to be trying), and even you own self doubts (can I really do this?!). In my own experience, I have found that it's the self-doubt chiming away in my own head that can be the most destructive.

So, with constant reminders to "get out of my head", I refocus on the day's activities and keep pushing ahead.

Don't forget, it's only when you give up on yourself that you will fail, and I have seen it so often. Everyone can be successful in business, it takes dedication, internal fortitude, and often the support of a good mentor or coach.

So why do so many people fail? In my opinion, it is caused by a combination of factors: planning, dealing with challenges when they come up, and staying focussed on the end goal but taking small steps to get there.

Take credit for every success and stay positive about where you want to end up ... given time, success will come. When you give up on yourself, you won't reach your goal, you'll be stuck right back where you started.

About the Author:

To find the best home based business ideas and
opportunities so you can work at home visit:

Tuesday, September 19, 2006

Get Organized ... It Saves Time & Money

When you work from home, having a comfortable space to work is critical. Lets face it, if you are uncomfortable in your office, you will find 100s of reasons to do something other than work, and needless to say that will impact your success (and finances).

I recently met a professional organizer, Linda Andersson, whose contact info is below. She helps people get and stay organized. When I first met her, I was a little nervous. I am a self-confessed pack-rat and desperately need help but didn't want to live in a sterile environment. Her approach to organization works with your own habits to make getting and staying organized possible.

Her simple advice, both at the seminar I attended and through her newletter, is helping me to take one step at a time towards being better organized. I thought this would be a valuable resource to all of you as well. We can never be too organized!

Here's her most recent newsletter, as well as a link to her email and web site at the end of the aticle.

She is amazing. Take some time to read her advice and visit her web site.

Thanks Linda for giving me permission to share your article.

A New Perspective

Does getting organized seem to forever be on your “to do” list? Do you often find yourself saying “I really should get rid of some stuff and get better organized”, but then don’t manage to follow it up with action?

Saying we “should” do something is often not enough of a motivator to actually do it. We “should” ourselves into a guilt-ridden state then lose motivation or just don’t know where to begin.

What if, instead of feeling guilty and trying to force ourselves to do something, we looked at it from a different perspective?

Try this exercise: Sit down in a comfortable chair and close your eyes. Mentally walk through your home or office, examining each room and its contents carefully. Once you are finished the tour of the entire space, begin to watch, in your mind’s eye, all of your possessions floating out of the house and onto the front lawn. Sit in the centre of each empty room and just look around and enjoy the empty space. Then, imagine only the items from the front lawn that represent who you are as a person, or family—just those things that you use and love—being brought back into your home, item by item. Imagine where you would place each item and how your new home would look and feel if it were just as you want it.

By envisioning the emotional and physical benefits of being organized, we are more likely to move towards creating that vision and let go of the things that no longer support this focus.

Simplicity is not about sacrifice. It’s about focusing on what truly matters and creating an environment to reflect that. This month, why not try a new perspective and see what wonderful simplicity you can create in your life.

Visit Linda's web site at:
Email her at:

About the Author:
To find the best home based business ideas and
opportunities so you can work at home visit:

Monday, September 18, 2006

Pests, Guests and Pushovers

While I was spending way too much time in airports yesterday, I remembered a saying used by Kurt Mortensen when talking about prospecting. He asked the call participants if they are pests, guests or pushovers.

If you think about your techniques, they will likely fall into one of these categories.

Lets start with Guests: This this where you want to be. Your prospect has invited you in and is actively listening to what you have to say. What does it take to be a guest? The right combination of confidence, assertiveness (matched to your prospect), listening and tapping into the needs and wants of the person. When you can consistently be a guest, you will see your business soar.

Now let us talk about the other two. You will likely lean towards one or the other more naturally.

Pests: These are the people who call many times to get hold of a prospect. Are so focused on the sell, they are not listening to what the other person is saying. You won't make the sale if you are perceived as a pest. You need to back off a little, listen more, and ask more questions. We've talked about the why for building a business, when prospecting, you will have more success if you know why they are looking at what you have. Stop talking and start listening.

Pushover: These people are wishy washy and allow prospects to control the conversation and the direction of the discussion. When you are a pushover, prospects know they can give you an objection and you will fold. If you find you are tending towards this area, you need to handle objections and keep the conversation focused on the prospect and what they need (tap into their why).

We all want to be our prospects guests and by asking questions, actively listening and not being distracted, you can understand their why and have a more powerful connection that will have them invite you in ... As a guest.

About the Author:
To find the best home based business ideas and
opportunities so you can work at home visit:

Saturday, September 16, 2006

Source of Inspiration

On a slightly different vein today. I heard a speaker today who moved and inspired me ... not only by what he has had to endure in his life and his ability to survive but also through the lessons he learned along the way.

The speaker Li Cunxin, is the author of Mao's Last Dancer's. Here is a snapshot of his life from his website.

"Li was born into bitter poverty in rural Qingdao, China. Certain years the peasants in his village even ate tree barks to survive ... One day, a delegation from Madame Mao's Beijing Dance Academy arrived at Li's commune school to find suitable children to study ballet and serve in Chairman Mao's revolution. At first they passed Li without taking any notice, but just as they were walking out of his classroom, the class teacher hesitated, and suddenly tapped the last gentleman from Beijing on the shoulder and pointed. `What about that boy?'. And that boy was Li. And so began Li's remarkable journey. He was 11 when he left home to begin a seven-year harsh training regime from 5.30 am to 9 pm, 6 days a week at the Beijing Dance Academy ... With incredible determination, resilience, perseverance and vision, Li graduated as one of the best dancers China has produced ... And became one of the first two cultural exchange students allowed to go to America to study under Mao’s regime ... In a dramatic defection, Li was subsequently locked up in the Chinese Consulate in Houston. This created a standoff between the Chinese and the American governments. Even George Bush senior, then US Vice President intervened. FBI agents surrounded the consulate in Houston, and negotiations between Chinese and US diplomats had begun. His defection was the headline story in America. Twenty-one hours later, Li walked out of the Chinese Consulate as a free man."

What impressed my about this man is his drive. He had a very poor upbringing but knew that if an opportunity presented itself, he would leap at it and try to get a better life for himself and his family.

He says you can't get anywhere without sacrifice and dedication. As a new dancer, his legs were not strong enough to perform the jumps he needed so he would wake at 5 before rehersals start, strap sand bags to his legs and run up and down the stairs. He would do the same at night when his rehersals ended at 9 pm, and eventually, his legs were strong enough. It took dedication to get where he needed to be.

Finally, he talked about passion. He said that after spending 2 years at the academy, he hated ballet (but continued to do it because it was an opportunity to escape his poverty. One day, a new instructor inspired him and a love of ballet grew. I also believe it is that love of the ballet that would have transformed him from an average dancer to an extrodinary dancer.

Think over your life, are there people who inspired you so much that you took on challenges you would have never conceived?

Think of your business, do you challenge others and instill a passion in them.

If not, why not. In our business, being a coach is critical but inspiration will lead to miraculous results in our businesses.

Thursday, September 14, 2006

Is your mouth muted?

I was at a convention recently and a wonderful speaker was talking to us about business development and growth. He had a phenomenal presence ... one of those magnetic personalities I've talked about before.

He used a great expression that I think we should all remember.

Get your mouth off mute ... you can't build a business with your mouth on mute.

What a great expression. During many of my training and coaching sessions, I encounter people who are facing challenges with building their business. They want to make more money in their business, they believe in their business and they really want to make it work ... but for some reason, they aren't having much success.

Here's the first question I ask: How many people did you talk to today.

More often than not, the answer is no one ... and then the excuses start ...

This is what we call having your mouth on mute ... no one can hear your message if you don't open your mouth and talk to people.

Take your mouth off mute and start talking, you'd be surprised at the success you can achieve.

What's in a plan

I've talked before about having a plan for your business. Have you thought about a plan?
Lets talk about common elements you should include in your plan.
1. Business overview: If you can't explain it how can you sell it
2. Competitive analysis: who are your top competitors, where are they strong, where are you strong, what differentiates you from them ... and I'm not talking about the we're the best bavado.
3. Business objectives: what do you want to do and by when. Be specific and outline what it will take to get there
4. Marketing plan: how will you promote your business and how much will you be spending on promotion (include everything from samples to seminars and advertising, web hosting, travel etc.) You want a realistic picture of how much you need to invest in your business
5. ROI: Take your plan, your investment and start outlining the financial returns for the business. It doesn't have to be complex but make it complete.

If you've taken the time to do a good business analysis, the plan you have in your hot little hands after this exercise is a workable plan for business success. Now don't let it get dusty in the corner of your office, review it weekly or monthly, adjust the activities and the results.

Your business plan is a living breathing document that will allow you to forecast expenditures and project cashflow. It's a snapshot of your path to financial freedom.

If you need more help, Microsoft has some great free templates you can download but KISS (Keep it simple stupid) you don't want to spend do much time writing the plan you have no time to implement it.

What are you waiting for, start writing.

Monday, September 11, 2006

Do you have a business or hobby

Working from home is a great way to gain personal time freedom. It also presents lucrative tax savings, earning potential and if you build it right, passive income for life.

Here's today's question: Are you really running a business or do you play at it (more like a hobby.)

To decide which is which, ask yourself a few questions

1. Do I have a plan? (this includes marketing, promotion, sales, competition, business goals, financial projections etc). In a future blog I'll post a simplified business plan that outlines categories.
2. Do I have a schedule (do I work at this business consistently to implement the plan)
3. Have I set budgets for my business and am I spending within those budgets effectively (this may include sampling, promotion, advertising etc., whatever is appropriate in your business)
4. Do I have a contigency plan if my sales objectives aren't being met. How will I address it, what will I do, who will I call for advice
5. Am I investing in my education (all business people need to stay current. It's the best money you can spend.)

I hate to say it but if you aren't doing all of the above, you are playing at running a business and are not seriously running a business.

Take some time and answer each of these questions. Where there are gaps, start filling them in. This is another great step in your business development.

When you are starting a home business, it is tempting to play and enjoy your newfound freedom but you need to set the solid foundation first. Build the business on a solid footing and retiring free and early is possible.

Make your business real ... not a hobby and you are on your way.

Sunday, September 10, 2006

Are You True To Your Word?

Do you act with integrity? Most people when confronted with this question will state firmly that YES, they have integrity. They don't promise things they can't deliver and their word is their bond.

But are you true to the promises you make to yourself? Most people who fail in their business-building dreams are so busy keeping promises to others that they back burner the promise they made to themselves ... the promise of more money, more time freedom and a better life. So why do we all do it?

There are a few reasons I've uncovered through coaching business associates. See if any of them resonate, and be honest with yourself.

1. I am too busy doing XXXXX . You can insert almost anything here. Many people keep themselves so busy doing what can only be described as busy work that they have no time to do anything else. Here's the reality: if you make your business a priority, everyone can find 1 hour a day or 10 hours a week to dedicate to a business. Sometimes beting busy allows you to avoid doing the things you need to do to make your business profitable.

2. FEAR. While many people don't admit to the fear, many are afraid of being ridiculed or criticised for their attempts to build a business or they are afraid of failing. Often, people will say they are "too busy to work at the business right now" but the reality is that they are afriad.

If you are in a business, or you are planning to start one, you need to make a promise to yourself (and show integrity in your dealing with that promise.) Promise to give it your all. To dedicate time to your business every day and not allow other commitments to infringe on your business building efforts.

Here's a tip for keeping focused on your priorities. Every day, create a list of critical and trivial activities. The only things that go on your critical list are the top 4 thing that will lead you to reaching your ultimate goal (of financial freedom). If you are in a business, it could be talking to 2 new prospects every day. You need to do the things on your critical list before anything on your trivial list. If the day ends and you haven't done the trivial things, you can head to bed. If your day is done and you haven't done the critical, better carve out a little more time.

Here's another tip. Don't turn on the TV or pick up a book until the critical list is complete.

Remember this list is not a to do list. It is a list of the things you need to do every day to get your business on the right foot and you are taking baby steps towards your ultimate goal.

Be true to your word, especially when you are making a promise to yourself and you will be more likely to be successful.

Friday, September 08, 2006

Don't Bring Me Down

Anyone who has started a business or is thinking of starting a business knows how this feels.
You are excited about a new opportunity. You are looking ahead to greater prosperity and financial freedom. You've done your research and know the business will get you closer to your goals. AND THEN ... someone, usually someone you respect or love, dumps a huge bucket of cold water over your head and you are left shivering. More often than not, you also give up on the dream, and the idea that made you so energized in the first place.


Why do we let others control our destiny? Why do others have such control over us? In a later article we'll talk about this but for now, ask yourself some questions about your critics: Are then independently wealthy? Have they gotten out of the rat race and are enjoying the type of life you aspire to have? Are they business owners? Have they taken any steps towards financial freedom.

Chances are the answers to these questions are No.

So, why are you listening. Tune out.

If the people around you aren't as excited by what you are trying to accomplish as you are, maybe they aren't the right influences. That's not to say that everyone around you should jump on the bandwagon and join you in business, but they should be supportive.

My approach to negativity is simple. Those people who consistently pull me down, are those with whom I don't share ideas I am excited about. Those people who undermine my efforts to improve my financial situation, are ones I limit exposure to.

I foster and spend time on the relationships and people with vision. Those who support my efforts and encourage me to grow and challenge myself. These are the people we want to spend time with, not those negative nellies who can't see anything positive in life.

You can't win the game when you're sitting on the bench. And, you can't win when people around you consistently tell you you're not a good player. How did professionals get good ... practice. In business, it means getting into the game and taking a few swings. Soon enough you'll hit one out of the park.

About the Author:
To find the best home based business ideas and
opportunities so you can work at home visit:

Thursday, September 07, 2006

Today, I wanted to share an article by a master persuader. Wouldn't you love to have people banging on your door to do business with you? The secret could be charisma. Here's what Kurt Mortensen has to say about developing the skills that will draw people to you.


For some, charisma is a mysterious attribute. It’s challenging to describe someone who exudes charisma because there’s really no way to quantify the effect this kind of person seems to have on others. It seems that you either have charisma or you don’t. Charisma is not leadership, assertiveness, or enthusiasm and it’s not exactly personality either. It’s its own unique characteristic. Charisma empowers others to like you, even if they don’t know much about you and even when there hasn’t been enough time to develop trust in you. If you have charisma, not only do people want to be around you, but, whether they realize it or not, they also want to be influenced by you. Charisma gives you power, allegiance, and devotion with your audience, without leaving them feeling powerless and it creates instant support. So, are you born with charisma or is it learned? The answer to both questions is yes! Some attributes are inherent! ; others can be acquired.

The word “charisma” comes from the Greek goddess Charis. Charis’ character was one of total beauty and charity. Today, the word has to do with an individual’s magnetism, intensity, vivaciousness, and so on. Gerry Spence’s said it best:

“Charisma is energy from the heart zone. If the speaker has no feeling, there is nothing to transfer. Charisma occurs when the speaker’s feelings are transferred in the purest form to another. Charisma is not a diluted feeling. It is not disguised. It is a raw feeling. Charisma is the passing of our pure energy, our pure passion to the other.”

People who are charismatic often hold us in awe. Their energy prods us, motivates us, and inspires us. They fulfill our need to have heroes. We feel better for having met them, seen them, listened to them, and interacted with them. Why and how do they have this effect on us?

Jay Conger has identified four general characteristics of charismatic leaders. As you develop these characteristics, people will follow you! You will become magnetic!

1. They have a strong and clear vision, and they know how to present it in the context of their audience’s needs.

2. They know how to present their vision so that the weaknesses of the present condition are apparent and the recommended changes are not only justifiable, but also desired.

3. They have a history of success, expertise, and vision to make educated departures from old traditions that may be less effective.

4. They possess the behavior they encourage others to have, modeling the results of change and thus helping their audience feel motivated and empowered to do likewise.

“Charisma is the result of effective leadership, not the other way around.”
-Warren Bennis

Persuade with Power,

Kurt W. Mortensen

Wednesday, September 06, 2006

Instant gratification vs delayed gratification

We live in an instant gratification society. Why wait for tomorrow when we can have it now.

Robert Kiyosaki talks about the need to foster delayed gratification when it comes to financial matters. The example he uses is when he wants to buy a new car. He can afford the car. Wants the car ... so does he go out and buy the car ... no. He buys a business that pays the monthly payments for the car and has the business buy the car. He delays getting what he wants until he has a passive income business to pay for it and gets a double bonus, not only does he get the doodad that he wants, he has a business that keeps generating money long after the car has lost its luster.

So, why am I telling you this story. When it comes to building a business, we want instant results. We want success yesterday and when it doesn't happen, we can feel frustrated and even give up.

The only time you fail is when you give up. Look at it at this way. When you give up you are not giving up on a business you are giving up on yourself. You are letting that loser in your head tell you that you can't do it ... it's too hard ... it won't work. Is that voice right? NO. You are the only one who can control your outcomes and trust me on this one, giving up is easy but it won't get you any closer to that WHY we talked about earlier.

What we should be doing is keeping our eye on the prize and taking small steps towards our goal. Consistent effort is the key to success. Review what you are doing every week and tweak it. If you are not getting results, review your activities, ask for help, and make some changes to improve the results. Over time, the consistent effort will mean you reach your goals.

Don't cheat yourself out of potential success by making excuses. Excuses are the tools of the losers and are counter-productive. Learn from every activity. Admit to mistakes, and learn the lessons so you can improve your results.

Guess what. You keep doing this week in and week out and you will get to your goal.

Don't let instant gratification stop you. Go for delayed gratification, the prize is much more valuable.

Tuesday, September 05, 2006

Are you letting the loser win?

"Don't let the losers win," Robert Kiyosaki writes in his book Rich Dad's Who Took My Money.

It is easy to agree with that statement. We all want to be winners but often we do things to ourselves that causes us to become more like a loser than a winner.

Inside every one of us is a winner and a loser. The loser is the one who complains ... it's to hard, I can't do it, it's too risky, I'll never be rich, I'll start when I have time ... it's the voice that stops you from taking action or talks you out of starting a business or making an investment that could be lucrative.

These common excuses are the loser inside preventing us from doing what we need to do to realize our dreams. As Kiyosaki says, the loser gets louder in our heads when we are doubting ourselves.

"One of the main reasons many people do not attain their financial potential is because when it comes to money, most people let the loser win," he writes, adding the loser plays an important cautionary role, making sure we look at an investment from all sides. It helps you evaluate the negatives and positives of an investment but if you only listen to the loser you will find yourself talked out of a good deal.

It is important to learn from the loser but act like a winner. By taking action and learning from any mistakes we make (rather than blaming others), we gather a wealth of knowledge that will lead to our ultimate success.

Don't talk yourself out of winning. Tap into the winners inside and success will come your way.

Monday, September 04, 2006

What's your why?

For those out there who are serious about exiting the rat race and building a better life for yourself and your family, knowing why you want to be rich is as important as how you are going to get out.

I recently finished 12 weeks of Rich Dad Coaching. Want to know what we did for the first two personal coaching sessions. We wrote out in detail why we wanted to be rich, what it looks like and when we were going to get there. We also spent time writing out what we don't want. This exercise focused our minds so we had a reason to do work it would take to get out of the rat race. Financial gurus like Robert Kiyosaki know the cardinal truth ... you can't get somewhere if you don't know where you are going ... and you won't get there if you don't know why you are bothering.

The how is easy when you know why.

Why gives you drive, determination, and the perseverance you need to acheive success. Lets face it, when you start building a business that generates passive income, you will face critics and set backs. You need a strong why to pull yourself back up on your feet and keep going. And, its those people who have the strength to get on their feet and keep building when all the people around them are laughing or criticizing them who will find real success.

So how do you figure out your why ... chances are it is not the first thing you think of, but its a good place to start.

Start answering some very simple questions: why do I want to be rich, what will being rich look like (in colourful detail), how will my life be different, what will I be doing, where will I be doing it, what things will I be doing, what won't I be doing, when will I get there, what will it take to get there, what will I do if I fail at first, how will I ensure my success.

Don't do this fast. Take your time. Revisit the answers every day and rewrite them to reflect a deeper meaning.

Now ask yourself ... is it enough. Is it enough to keep you going when the going gets tough. If the answer is no, go back and review it again.

Remember, when you know the why, the how is possible.

Start today and define why you want to be rich.

Sunday, September 03, 2006

Do you know why?

One of the first steps in planning an exit to the rat race is knowing why you want out.

Sounds simple right? Well consider it is, and it isn't. You could say that you want out because you are tired of working for someone else, you want more time with your family, no more worries about the bills and want to control your own destiny. Sounds good. I can buy into that.

But is it enough? Is it enough to get you up in early in the morning to do a little work before the day begins. Is it enough to take time away from family at night, or spend a few hours on the weekend to get one step closer to that goal. Is it enough to maintain your drive for the goal line when the going gets tough ... and believe me, the going is going to get tough.

When you are focussed on dramatically changing your life, there will be people around you who undermine your efforts. The amazing thing is that the people who could lead the charge, might be the ones you count among your friends or family. They could be the ones who tell you ... you can't do that, it'll never work, why are you working so hard ... if you have ever started a part time business or made a financial decision that goes against the norm, this will sound familiar.

Just because they can't see your vision for the future, doesn't make them right.

It takes courage to make a big change in your life, but in the long run, it will be worth it. The time, energy, criticism and even ridicule will be worth it when you are spending your days on the beach, golf course, or driving around in your new Porsche Boxster. Don't you think so too?

Next time, defining your why.

Saturday, September 02, 2006

Welcome To My Blog

Good morning from Kelowna BC

As you can tell from the blog name, this blog is for people who really don't want to work for others until they are 65 ... only to retire with little money and scrimpting in their golden years.

Over the course of the evolution of this blog, I'll share tips for generating passive income, talk about books, articles and other things that I've encountered that are helpful to others who are looking to get out of the rat race.

Lets get ready to retire early ... and retire soon.