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July 25th, 2013

Published by: inspiredprogress

21 Millionaire Secrets (16 - 21)

you have the solution to their particular wants, needs and desires. A business is simply a vehicle for which to deliver the solution to them.

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THREE key points to consider:

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• A business is simply the interface between VALUE and a Target Market • A business is a vehicle that delivers value to a target market

21 Millionaire Secrets (16-21)

• Marketing is the process of communicating the BENEFITS of your offers to your Target Market

Millionaire Secrets This post is another continuation of the 21 Millionaire Secrets mentioned in self help author, motivational speaker, entrepreneur and business coach Brian Tracy’s book ’21 Secrets of Self Made Millionaires’. These concepts were first reveled to me after attending an Internet marketing seminar hosted by Internet marketer and best selling author Mark Anastasi, and are also mentioned in his eBook “21 Millionaire Secrets That Changed My Life“.

Millionaire Secret 18 Know What Kind Of Wealth Creator You Are

Millionaire Secret 16 Choose A Scalable

Business

Model

That

Is

A very simple concept that can reap massive rewards. Choose a business model that can grow rapidly and exponentially world wide, that is not tied to a geographical location. This will permit you to use a lot more LEVERAGE. An example of this could be to sell products or software online. This will allow you to sell to a world wide market, thus making your business ‘scalable’.

Millionaire Secret 18 : Kind Of Wealth Creator You Are

Know What

In his book ‘Your Life Your Legacy’, Roger Hamilton Explains that there are 8 types of wealth creators. Once you know what type of wealth creator YOU are, you can then join forces with or employ other people / different types of wealth creators that compliment your strengths (each type has weaknesses). The 8 Types are as follows…

Millionaire Secret 17 Master Marketing And Sales “No matter what business you are in, you are in the marketing business…Wealth is about adding value to large numbers of people. But how can you add value to people if you don’t know how to reach them?” ~Dan Kennedy Marketing consists of TWO core activities: Customer acquisition (sales, marketing and advertising) and customer nurturing (list building and communicating with your list). In Business, marketing and sales is all about communicating with your target market as a means of letting them know that

MECHANIC : Creates wealth by putting systems in place CREATOR: businesses

Creates wealth by creating products and

STAR: Creates wealth by attracting people to a cause or public speaking etc SUPPORTER: Creates wealth by managing people and teams DEAL MAKER: Creates wealth by selling and negotiating deals TRADER: Creates wealth by buying, selling or trading the markets

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July 25th, 2013

Published by: inspiredprogress

ACCUMULATOR: Creates wealth by accumalating income producing assests

from your liabilities. Then keep aquiring income generating assets.

LORD: Creates wealth by acquiring assets that grow in value over time

An asset is something that puts money into your account every month. A liability is something that drains money from your account every month. Every $ that comes into your hand you have a CHOICE. It is advisable to use that $ to buy an asset.

Millionaire Secret 19: The 80/20 Rule And The Power Of Systems In his book ‘The e-myth’ Michael Gerber says that if someone cannot take 6 months off and come back to see that their business has grown without their PRESENCE, then, they do not have a business, they have a JOB! Michael gerber says that you must systematize EVERYTHING in your business (marketing, recruiting, production process, etc etc), thus allowing you to work ON your business rather than IN it. A true entrepreneur will create a new business, systematize it, hire people to run the system, and then will move on to creating the next system.

The 80/20 Principle. Pareto’s Law. Pareto’s Law says that 20% of your work creates 80% of your results and profits. It is essential in your business to identify what that 20% is. What is it that onlu YOU can do ? Where does your personal time produce the highest ROI? What do you currently do that you could delegate and outsource? Outsource everything.

While most people’s money goes on EXPENSES and LIABILITIES. Wealth people’s money on the other hand goes to purchasing ASSETS (which then in turn increase their INCOME). PAY YOURSELF FIRST: According to Brian Tracy, it is important to pay ourselves first. Taking NO LESS than 10% of our monthly income to purchase income producing assets BEFORE you pay ANYTHING (food, bills,rent etc etc). If you are under pressure to then pay for any of your expenses you will FORCE your brain to come up with new ways to find the money to pay for them. You will then force your brain to work harder, and will in turn make you become smarter, bolder, more determined and more resourceful and easier to become a millionaire. “Once your money making muscle expands it will never go back to it’s original size“~Mark Anastasi

The Magic of Compound Interest Compound interest is the “eighth wonder of the world” ~Albert Einstein Here’s an example of the MAGIC of compound interest…

Millionaire Secret 20

If you saved $6.50 a day at an annual return of 16% = $1,000,000 in 25 years.

Spend Less Than You Earn And Invest The Difference

$5,000 invested at only 5% interest a month grows to $1,000,000 in only 9 years!

The equation for financial abundance is simple, consisting of two parts:

It is important to familiarize yourself with this concept. This is just a simple, yet extraordinarily effective way of building wealth and becoming a millionaire. Compound interest is an example of how we can become wealthy by simply being disciplined and following through on a simple plan.

1. Spen less than you earn and invest the difference 2. Then, re-invest your returns for compounded growth until you reach a critical mass of investment capital that creates the annual income you desire for life! Live below your means. It’s not how much you earn that matters, it’s how much you KEEP!

Millionaire Secret 21 The Elliot Wave Principle

Millionaire Secret 21: The Elliot Wave Principle 21 Secrets of Self Made Millionaires First, work out EXACTLY how much you spend each month, make a note of every expenditure you make and keep strict accounts. Then, understand the difference between as ASSET and a LIABILITY. Financial literacy is knowing your assets

Elliot Wave, a psychologist who became interested in the stock markets found that since the 1600s assets have gone through the SAME CYCLE every 70 years. Approximately 5 waves up and then 3 waves down. Elliot Wave explained this by linking it to human psychology and the herd mentality…

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July 25th, 2013

* Stocks go up *…some people make money…….then, their neighbours and friends wants some of this success too, so they pile into the stock market as well. Greed takes over. Finally everyone from all walks of life start buying stocks thinking that it’s the path to easy street and the demand from all these ‘unsophisticated investors’ sends stock valuations sky high, without any actualy concern for the actual cash flow or underlying value of that particular business. *Asset prices peak*…. *The Bubble Bursts*……. *Trillions of dollars are wiped out* (and wiping out a lot of people’s savings).

Published by: inspiredprogress

Want To Earn A Full Time Income Working Part Time? Just click below to find out more. Embed these 21 Millionaire Secrets into your mind. Write them down, keep them with you and make an effort to memorize them. More importantly, APPLY these principles. Knowledge gained stands for nothing unless it is APPLIED! Have YOU already, or are you currently applying these millionaire secrets? If so, what impact have they had or are having on your life? Or are you intending to begin applying these principles? Please leave YOUR comment regarding these 21 Millionaire Secrets below…

*more and more investors begin to panic*…and sell their assets EN MASSE!…All of this supply of assets on the market sends prices crashing down again. Banks have to then tighten up, stop issuing credit and call in their loans….forcing investors to sell their assets causing the crash to go further. This has happened without fail for 400 years! Every Seventy Years! As of around 2013 onwards, it is likely that we will be entering WAVE C of the cycle, meaning we will be able to buy up assets from pennies on the dollar.

Re – Cap of The 21 Millionaire Secrets 1. The More You Learn The More You Earn 2. Money Is Nothing But The Measure Of The Value You Create For Other People 3. Money = Value X Leverage 4. Your Invisible World Creates Your Visible World 5. Self Love = Self Wealth /Abundance Consciousness 6. The Power Of Gratitude 7. Accept FULL Responsibility For Everything In Your Life 8. Know EXACTLY What You Want And Focus Only On What You Want 9. The Peer Group Solution. You Become Who You Spend Time With 10. Get Rid Of Your TV 11. Sell Products. Don’t Sell Your Time 12. Work For Passive Income Not Earned Income 13. Find A Mentor And Copy A Proven Success Formula 14. Know What People Want 15. Choose The Right Target Market 16. Choose A Business Model That Is Scalable 17. Master Marketing And Sales 18. Know What Kind Of Wealth Creator You Are 19. The 80/20 Rule And The Power Of Systems 20. Spend Less Than You Earn And Invest The Difference 21. The Elliot Wave Principle

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