Success Secrets – How to Live Big & Regret Little – Part 1

Success – Living Your Life with No Regrets!

Everyone wants to be successful in life to a greater or lesser extent. Whilst success means different things to different people it’s fair to say there are some common characteristics. This article highlights the 8 key areas in life that people typically regret not having done differently.

“If you could live your life all over, what would you do differently?”

This is the very question that was put to 4,000 Retired Executives over the age of 70 by Dr. Gerald Bell, University of North Carolina (Professor of Organizational Behavior and Management). They responded in common to 8 key areas that if they could live their life all over again, they would do so differently.

Here are the first three:

Regret # 1 – Life Goals

”I would have carved out life goals and owned my life”

Key Message: Life is not a dress rehearsal. It’s the real thing. Take charge of your life with goal setting. Fulfill your life purpose.

Regret # 2 – Health

“I would have taken better care of my health. I threw away health as though it were trash”.

Key Message: Health is wealth. People only realize how much it’s worth when they don’t have it. So, whether it’s having a better diet, reducing stress levels, going to the gym, taking a brisk walk etc., Look after your health and it will look after you.

Regret # 3 – Money Management

“I would have managed my money a lot more effectively”.

Key Message: Manage your own money. Don’t over-rely on your financial advisor, bank manager etc. It’s your money not theirs. Attain financial literacy and money management skills for yourself.

The purpose of asking a great question like this NOW is to get to the bottom of what really is important to you and your life. It may not in actual fact be what you previously thought was important

Read about the next key areas of regret and success in my next posts.

Find out more interesting and life changing Success Secrets atwww.MillionaireMindsetSecrets.com

Cashflow Quadrant – Understanding & Interpreting Rich Dad, Poor Dad’s Guide to Financial Freedom

All of us in one way or another desire financial security and many of us dream of attaining financial freedom. Robert Kiyosaki’s Rich Dad, Poor Dad’s Cashflow Quadrant book and board game teach the principals of income, assets and cashflow. Understanding the different methods by which income or money is generated and how it is utilised in essentially what Cashflow Quadrant is about.

The basic premise of the Rich Dad, Poor Dad
series of books is that the business world is made up of largely 4 types of individuals:

CashFlow Quadrant Rich Dad Poor Dad

1. Employee (E) – has a job.
2. Self-Employed (S) – owns a job.
3. Business Owner (B) – owns a business system.
4. Investor (I) – makes money work for them.

Identifying where you are in thisCash-flow Quadrant can largely be determined by where most of your income comes from. What affects which quadrant we decide to generate our income from is a due to internal differences in our core values, interests, outlook, life stage etc.

We can actually earn income from each of these 4 quadrants simultaneously if we so choose but most of your income will likely come from one quadrant. Whilst financial security can be found in each of the 4 quadrants, the skills and tools required and attained in ‘B’ or ‘I’ quadrants will help you achieve financial freedom more rapidly.

Traditional schooling teaches us largely to focus on become an Employee (E) or a high-paid Self-Employed(S) individual such as a doctor, lawyer or accountant. Whilst there is nothing wrong per se in this idea, it becomes a problem if your primary goal is to attain financial freedom.

Financial freedom is seldom to be found in the Employee (E) or Self-Employed (S) quadrants.
The attainment of financial freedom requires a high level of financial intelligence. You need to be ready to move beyond job security (in the ‘E’ quadrant) in order to begin your journey towards financial freedom. Be under no illusions though, it is a bumpy, windy road laden with risks that need to be constantly managed; it is NOT for you if you want a secure, normal life. However, if you are prepared to make the leap, the prize at the end of this particular journey is financial freedom. ( Read More Here)

If you’re searching for new avenues of growth, challenges and knowledge in your business and financial life you will get access to very helpful information by signing up NOW for free at www.MillionaireMindsetSecrets.com

Business Startup – 3 Critical Business Financing Mistakes to Avoid

Business financing mistakes can be perilous not only to the growth of a business but perhaps even your actual business survival. Oftentimes, these mistakes can be avoided by having in place some very basic accounting and financial management systems.

If you were to start committing any of the following 3 business financing mistakes too often, you would greatly reduce your chances of long-term business success.

A good business track-record is largely judged on financial success and financial success in business is assessed largely through the examination of business accounts. Good business accounts demonstrate to banks, financiers, colleagues etc., that you are a bankable business person and will lead them to put their faith and money into you and your business ventures.

Business Financing Mistake # 1 – No Monthly Bookkeeping.

Regardless of the size of your business, inaccurate record keeping creates all sorts of issues relating to cash flow, planning, and business decision making. In a word, your business is doomed if you are not doing monthly bookkeeping. Bookkeeping services are dirt cheap compared to most other costs a business will incur. Bookkeeping should be done on a monthly basis along with Management Accounts so that your financial records are always up to date and you can view the financial status of the business. By itself, this one mistake tends to lead to all the others in one way or another and should be avoided at all costs. (Read more)

Business Financing Mistakes # 2 – No Projected Cash Flow & Budget

Having no meaningful bookkeeping creates a lack of knowledge on where you are. And having no projected cash flow and budget creates a lack of knowledge about where you’re going. Without keeping score, a business tends to stray further and further away from its targets and, invites a crisis that eventually forces the business to change it monthly spending and cash-management habits. A projected cash flow first and foremost needs to be realistic. You should project both a best-case and worst-case scenario based on projected sales and business expenditures. (Read more)

Business Financing Mistakes # 3 – Inadequate Credit Control

There’s nothing worse than making sales, doing the work, sending your customer an invoice and then not getting paid on time…or worse still not getting paid at all! It’s a well-established fact that the longer a debt isn’t collected the less chance it will be collected. Typical credit terms in most established business are 30 days. However, due to a culture amongst some customers of paying late and small business not operating strict credit control, a business can often not get paid on time and fast run out of cash. So how do you avoid this? Well, there are numerous steps you can take but the following 3 steps will help ensure you always get paid…and paid on time.

1. Appoint someone in the business to be in charge of credit control.

2. Reinforce your payment terms and conditions on your contracts, on your website, on your invoices etc.

3. Send your invoices on time and include a statement of the account with each invoice.

In a world of tightening credit from banks, strict business finance practices are required even more. You can’t expect your bank to extend your overdraft or facilitate a term loan if you are guilty of any of the 3 above financing mistakes. (Read more)

There’s so much more to business finance and money management than I have covered here that I could write a whole book on it! But for the moment if you are starting out or taking over the running of a business and are experiencing working capital or cash-flow difficulties than I would first start investigating these 3 key areas and see that they are being managed diligently. If you do this, than many of your cash-flow difficulties will begin to disappear and your business finances will improve quickly (assuming your business proposition is sound in the first place and sales are strong). Find out more about business, personal finance and wealth creation strategies by signing up NOW atwww.MillioniareMindsetSecrets.com

Wealth Creation 5 Memorable Quotes from Must-See Movies

Some inspiration can go a long way…This week I have prepared my personal list ofTop 5 Great Quotes from Inspirational Movies that could help you keep motivated and focused on your wealth creation goals.

1.Wall Street

“The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through and captures the essence of the evolutionary spirit. Greed, in all of its forms–greed for life, for money, knowledge–has marked the upward surge of mankind. And greed–you mark my words–will not only save Teldar Paper but that other malfunctioning corporation called the USA.” — Michael Douglas as Gordon Gekko advocating the pluses of greed..there are some down side too though! 

2.Glengarry GlenRoss

“A-B-C. A=Always, B=Be, C=Closing. Always be closing, always be closing.” –Alec Baldwin as sales exec Blake, offering some sales “advice”!

3.Trading Places

“Think big, think positive, never show any sign of weakness. Always go for the throat. Buy low, sell high. Fear? That’s the other guy’s problem. Nothing you have ever experienced will prepare you for the unlimited carnage you are about to witness. Super Bowl, World Series–they don’t know what pressure is. In this building, it’s either kill or be killed. You make no friends in the pits, and you take no prisoners. One moment you’re up half a mil in soybeans and the next, boom, your kids don’t go to college and they’ve repossessed your Bentley.” –Dan Aykroyd as Louis Winthorpe III, on working at the Chicago Mercantile Exchange

4.The Pursuit of Happyness

Christopher Gardner: Hey. Don’t ever let somebody tell you… You can’t do something. Not even me. All right?
Christopher: All right.
Christopher Gardner: You got a dream… You gotta protect it. People can’t do somethin’ themselves, they wanna tell you you can’t do it. If you want somethin’, go get it. Period.– Will Smith as Christopher Gardner gives some useful advice to his son Christopher. Based on a true story also!

5. Boiler Room

“Anybody who tells you money is the root of all evil doesn’t have any.” –Ben Affleck as brokerage recruiter Jim Young

Movies can inspire you and stir your thinking. I like to watch movies that can stretch my mind and challenge my thinking, open up new vistas and give me new insights into life. In a funny way, movies are like mentors to me.

Watching an inspirational movie you love again and again is a great idea to help you cultivate the right mindset. It’s also a fun and relaxing way to help you stay focused and to remind you of who you are and what you are becoming!

Check out www.MillionaireMindsetSecrets.com for more wealth creation advice and recommendations.

How to Become a Millionaire – Choosing the Right Business Opportunity

Have you ever wondered how to become a millionaire by running your own business, here are some rules on how to choose the right business for you.

How do you go about choosing the right business opportunity for you? You know, life is just a bunch of decisions strung together. Choosing the right kind ofbusiness opportunity for you could be one of those important decisions on the road to wealth creation. Making the wrong decision could cost you millions and making the right decision could make you millions. Here are a few simple rules you can apply to choosing the right type of business for you.

1.Follow Your Passions (But Not Your Hobbies)

Nothing great in the world has ever been achieved without passion. The best kind of business is always to make or sell a product or service you know and love. This is because if you’re starting a business, you’re most likely going to be in it for the long haul. Without passion you’ll run or of steam real fast especially under trying circumstances and the business is likely to fail. Passion and love of what you do will sustain you through the ups and downs. And your successes will taste that bit sweeter if you’re passionate about what made you successful.

However, it’s important not to confuse your passion and your hobby. Just because you love baking apples pies doesn’t necessarily mean that starting an apple pie business is a good idea. (Read More)

2.Get Skilled or Be Killed

Passion first, skills second…but a very close second at that. Skills and talentsare the prerequisite tools you will need to just ‘do the job’. Skills and talent won’t guarantee you will become a business sensation but combined with passion and business savvy you give yourself more than a fighting chance of success. (Read More)

3.Know Your Lifestyle Requirements

Starting a new business is not glamorous. Exciting – yes but glamorous – no. You will have more flexibility as regards working hours, location etc. but even less freedom than you think. A new business can call upon 24/7 commitment from you. Contrary to popular opinion, you will work longer hours, have less time (for yourself and family), more stress and more sleepless nights than you could ever have working for someone else. If you’re not mentally prepared for this reality your dream business could quickly become a nightmare. So, make sure the type of business you chose fits the kind of lifestyle you want to lead. (Read More)

Starting or running a business can require a lot of energy, commitment and of course money so you really want to avoid wasting your time and money barking up the wrong tree! Applying the very simple rules above will help you avoid the pitfalls so that you can belong to elite of few business owners who become millionaires running their own businesses. Check outwww.millionairemindsetsecrets.com – you’ll get instant access to insider secrets on How to Become a Millionaire – www.millionairemindsetsecrets.com

10 Must-Read Books on Wealth Creation

There are many great books you can read to give you an understanding of wealth building. Here are a few classics I recommend:

1. Think and Grow Rich by Napoleon Hill
2. Rich Dad Poor Dad by Robert Kiyosaki
3. The Richest Man in Babylon by George S. Clason
4. The Seven Habits of Highly Effective People by Stephen R. Covey
5. How to Win Friends and Influence People by Dale Carnegie
6. You Were Born Rich by Bob Proctor
7. The Science of Getting Rich by Wallace D. Wattles
8. The One-Minute Millionaire by Robert Allen & Mark Victor Hansen
9. 21 Success Secrets of Self-Made Millionaires by Brian Tracy
10. The Millionaire Next Door by Thomas J. Stanley & William D. Danko

These books have simple, easy to understand and easy to implement ideas on wealth building. Reading these books over and over will focus your mind and concentrate your actions.

Happy reading to you!

You can check out more great recommendations, tips and wealth creation advice on www.MillionaireMindsetSecrets.com

Eliminate Debt: You Need To Know About Negotiating with Creditors

Nearly everyone finds themselves in debt repayment and cash-flow difficulties at least once in their lifetime. There are various ways you can reduce, manage and eventually eliminate debt.

Here’s how you can reduce debt by negotiating with creditors. This is just one of a number of debt elimination approaches you can take to get on top of your finances, eliminate all your debts and wipe your financial slate clean.

Everything in life is negotiable, even debt! Only one thing worries a lender more than not making profit and that is bad debts i.e. not been able to collect the capital amount lent (never mind the interest). You can renegotiate interest rates, payment terms, fees, penalties etc. Never take a payment demand at face value. Always negotiate with your lenders. Here are a few guidelines on how to negotiate with creditors.

Rule # 1 Do Not Avoid Your Creditors

Fear may tempt you to avoid lenders and debt collectors who demand payment. But you can really benefit from talking to them. Often, if you talk to your lenders, you can let them know you are doing your best to pay your bills, but are having difficulty making the payments demanded. You are now at least communicating with your lender. If nothing else, this gives you time to address your financial situation and takes the pressure off. Nothing annoys a debt collector more than unanswered emails, phone calls, etc. It is best to state your position with them early on and write to them explaining your situation and proposing a payment plan. (Read More)

Rule # 2 Always Focus on Getting Agreement

Some creditors will be more aggressive and demanding than others. However, no matter how much huff and puff your creditors exude, always keep your calm and stay focused on reaching an agreement. This is a critical rule in any negotiation. (Read More)

Rule # 3 Pay Only What You Can Afford to Pay

When negotiating an agreement with your lender(s) you would do well to devise a payment plan in advance based on your actual income and expenditure. Remember, this is YOUR repayment plan. Get agreement on your repayment plan and not their version of your repayment plan and get it in writing. Lenders will want to see an income and expenditure spreadsheet so have this ready. However, do not let creditors trawl through your spreadsheet demanding explanations. Be firm and tell them politely it’s none of their business really. You owe them money, nothing else.

Utilizing simple yet powerful debt elimination approaches like negotiating with lenders can really help you reduce and eliminate debt and put you on the road to real wealth creation. Find out more ways to eliminate debt and get on top of your finances at www.millionairemindsetsecrets.com. You can also sign up right now for debt elimination tips for free.