Building wealth is easy once you get a cash machine. What is a cash machine? Well it’s not some magical machine, its something every one of us can build.
A cash machine is a business that you start or buy that generates income for you. The easiest way to get this cash machine is to build a business around skills you already have.
Don’t worry if what your skills are exactly what you love doing, because you need to focus on getting your business up and running quickly.
For example if you are an accountant, see if you can get some independent jobs on the side, either at night or on the weekend. Actively try to solicit work as an accountant and if you have extra work give it to a friend and charge them a finder’s fee.
Even if you don’t love being an accountant, by doing what you already know you can build a cash machine faster.
If you don’t want to build a cash machine you can buy one. This could most likely come from franchises. There are dozens, even hundreds of franchises you can buy for under $1,000.
Start today to get at least one cash machine up and running within the next three months. Then take that cash and keep reinvesting it into other assets, this is the best wealth building plan.
A lot of people get caught up in the details of trying to come up with a detailed business plan, but don’t get caught up in the little details, start right now. Building wealth requires large bold steps, start today.
Luke Blaise
Thursday, June 28, 2007
Building Wealth: Getting a Cash Machine
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Tuesday, June 19, 2007
Secrets of the Wealthy
Do you want to build real wealth in your lifetime? Wealth building skills can be learned just like any other skill. So what are the wealth building secrets of the wealthy?
Most often you hear that people say that the secret of the wealthy is the ability to pay yourself firs, but that is too basic. We want real wealth.
Paying yourself first is often the most quoted way to build wealth, but what else is there? Well I think one thing the wealthy do is that they play the money game to win. Middle class people play the money game not to loose. Lower class people aren’t even aware that there is a money game.
The true secret to getting wealthy is expanding your income. You won’t become wealthy by thinking of ways to budget your income better.
Instead of spending weeks trying to get a great deal on a new car that time would be better spent thinking and putting into action plans that will increase your income.
[Resolve to start building multiple streams of income for yourself!]
Start right now to identify your interests or skills that could be used to earn extra income in addition to your regular work. It could be as simple as typing, or more complex like doing extra consulting work on the side.
Remember just an extra $135 dollars a day translates into $50,000 a year. If you reinvest that income into wealth building assets you can achieve real wealth in your lifetime.
Luke
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Labels: secrets of the wealthy, wealth, wealth building, wealthy secrets