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How is the most money made?

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How is the most money made?

By Douglas Vermeeren

Make more money today

Make more money today

Money is something that is important to all of us. It is even more important it seems when you don;t have any. When you don’t have enough it certainly seems to be a high priority and an issue of major concern. No matter where we go in life it seems there is a price tag attached.

Not only have I found that money is the dominant issue among all of the students I have taught there is one issue closely related to money that has got people just as concerned. And that issue is time.

People also want to make money as quickly and easily as possible.

While I do believe that money can often be made quickly and easily I want to give a correct expectation that it isn’t often as easy as most of the ‘get rich gurus’ and network marketing companies out there are promoting. (Sorry to pick on those tow groups but they are generally among the most common promising a sure fire way to wealth. And while it may happen with their methods it is somewhat uncommon.)

A recent study identified 4 key areas where the majority of wealth and wealthy lifestyles are created today. I want to share them with you without going into too much detail. These are not in any particular order as great fortunes have been made in each one. nor do I recommend you pick one and limit yourself to it. My fortune has been made by diversifying into each of these areas and I still look for opportunities in each. But if one of these opportunities is more easily available to you right now, by all means get started.

  1. Ideas – One of the best ways to become wealthy is have a great idea and develop it. You’ll notice I did say develop it. There are many great ideas out there that never become profitable because there was no action attached to it. I recently read that the average person has approximately six ideas that could become a million-dollar enterprise each year. The challenge again is that most people don’t do anything with these ideas.  To make money in the idea developing category you will need to learn how to do the following or get support in the following areas: Development, distribution, Licensing and sales. You may even need to look into manufacturing yourself to get started. Developing an idea can mean a lot of money for you if it’s done right.Business – Owning or operating a business can be one of the most rewarding activities existing. But if you speak to the average entrepreneur you will also find that it can be one of the most frustrating. Along with the opportunity to create your own paycheck you also assume all the risk and challenge of running the business.  Yet if you stick with and learn systems that help you create success you can do very well. In addition to creating a business there are opportunities to purchase an existing business, get involved in franchising, or even partner with others.
  2. Business – Owning or operating a business can be one of the most rewarding activities existing. But if you speak to the average entrepreneur you will also find that it can be one of the most frustrating. Along with the opportunity to create your own paycheck you also assume all the risk and challenge of running the business.  Yet if you stick with and learn systems that help you create success you can do very well. In addition to creating a business there are opportunities to purchase an existing business, get involved in franchising, or even partner with others.
  3. Investing – Investing when done correctly can make a lot for money for you. All investment however will come with some degree of risk. I always encourage our students to invest in things they understand or have experience with. There are many investment products available and many qualified professionals who can help you find investments that will work best for you. Often safe investing is a relatively slow and steady way to become wealthy. However there are many high risk opportunities as well that can generate higher returns in a shorter amount of time. In the category of investments we can include registered investments like stocks, shares,bonds, RRSp, 401K, GIC, Mutual funds and more. In this category we can also include private investment, which can include investment into businesses directly or real estate.
  4. Lastly, I have chosen to list real estate as a separate category apart from investment. The reason I have chosen to do so is that often real estate involves purchasing a tangible asset. (Which is quick different than developing an idea or buying a mutual fund.) It is generally thought that real estate is a very safe bet for investors, but this isn’t always the case as we discovered in 2008. Even with the challenges of the recession real estate is still a very safe bet considering that the market values always seem to restore themselves over time.  There are several ways to invest and make money in real estate. This can include everything from ‘flipping’ properties to owning rental properties. Most people initially think of residential properties first when it comes to real estate investing, but a great deal of money can be made in commercial real estate as well. And it is often easier to get involved than most people think.

While we haven’t been able to go into deep detail in each of this categories on this short blog post it is my hope that you would look deeper into each of these areas as I have made quite a bit of money personally in each area and I know they work.

If you are looking for more information and strategies on making more money please visit regularly my site www.MillionaireTrainingSystems.com where you will find free information and also special secret information for our coaching clients. On this site you’ll also find information about upcoming events and media appearances that I make and talk about money.

Millionaire Training Systems

Millionaire Training Systems

Douglas Vermeeren - Millionaire Mentor

Douglas Vermeeren – Millionaire Mentor

Douglas Vermeeren is the author of Guerrilla Millionaire, Guerrilla Achiever, the producer of the movies The Opus and The Gratitude Experiment. He appears regularly on FOX, ABC, NBC, CNN and other networks sharing strategies on becoming financially free. www.DouglasVermeeren.com

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November 16, 2013 at 10:04 am

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Maximum Results – Douglas Vermeeren 12

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Maximum Results - Douglas Vermeeren 12

Maximum Results – Douglas Vermeeren 12

 

Written by douglasvermeeren

May 10, 2013 at 1:21 am

Posted in Millionaire systems, The Millionaire Mentor, Wealth growth

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Buy your way to a Million dollars? Sure why not.

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Millionaire Mentor suggests business

Millionaire Mentor suggests business

 

Out of the self-made millionaires created in the world today 84% are created in the area of business. If that many self-made millionaires are made in this category it definitely merits a closer look.

Here are a few options:

Starting a business

You may have a great idea for a business. Keep in mind not all businesses are winners. A lot of business in fact fail and the vast majority of businesses make under $200,000 a year. That quite a distance from a million. So what are the key factors that make a businesses success more likely? Here’s a few quick questions that I try to create when building a business and ask when buying a business.

 

Is there an interested audience ready to pay for this product or service?

Are there systems to make this transaction or if not, how easily can one be created?

Is there management in place to keep the system running or improve upon it?

Does this business model have the potential for growth?

Is this business something that interests me?

 

Depending on how powerful the answers are to those question dictate whether or not I will move forward. You’ll notice that I don’t spend a lot of time wondering if I like the business. It’s actually the last question. While I think it’s important to be involved in something I enjoy it’s more important to remove emotion from the equation. If you aren’t making money you won’t have the privilege of being in business long and it certainly won’t help you to reach your goals of becoming a millionaire.

 

Quick tip: While there is a sense of satisfaction in starting your own business you can spend a lot of money doing so. It is always easier and generally more productive to buy an existing business with all of the systems and tools in place. It generally allows you to begin with cash flow in place.

 

Buying businesses

You don’t have to start a business. There are lots of great business to buy. Buying a business is a much easier and safer bet in my opinion as well. Statistics confirm that the majority of new business fail in the first two years. The majority of businesses are not profitable in their first five years. And Then there’s the issues of building your brand, finding customers and systematizing all of the details to be able to serve them. Why wouldn’t you just select a business that already has all these things in place and a proven track record and start there? It makes a lot more sense and is far more profitable and less expensive in the end.

 

You’d be surprised at the way these deals can be structured as well. And you never know why someone is looking to sell their business.

 

Recently I inquired about buying an additional business for my portfolio of passive income streams. In my quest for opportunities I found a wellness center that had been operating for nearly two decades. They had a large and loyal clientele and the revenue stream seemed consistent.  After answering yes to all of the above questions I decided to meet with the owner of the company.  The company was owned by an older couple who decided it was time to retire. However, I could sense that while they were interested in the financial benefits of selling the business the husband wasn’t entirely keen on stepping totally out of the picture. So we structured things and instead of me becoming the owner, I became a partner. He continued to work with the management team he put in place part time or as often as he wanted to, and I established another passive income stream for myself without having to put in any time or effort at all. In our agreement I also positioned myself that when my new partners grew weary of the business I would have first right of refusal to buy the rest of the company. I have built many deals where the original owners and I have become partners. Sometimes we have used the existing management and other times we have completely restructured the venture. Remember that everything is negotiable and you don’t always have to buy the entire company.

 

Quick Tip: There are many brokers and resources that sell businesses. You can find many of them online. I like brokerages for business because most of the time they have done most of your sifting already. they generally won’t list a business unless they believe they can sell it. Which means they have already explores the financials, legal documents and assets to ensure that everything they are representing is true. Naturally you will want to do your due diligence as well, but generally speaking brokerages give you a pretty fair head start. And by the way they generally charge the seller, not you.

 

Selling a business

While I like to buy business and hold on to them for cash flow or an increase in value I also like to buy and sell businesses. Sometimes you can make a lot of money doing this. Think of it like buying a fixer upper in real estate. You see a business that has potential, but maybe they are not quite running it at maximum performance yet. (Business being sold by people retiring are a great example. Perhaps they have become stale in how they have things systematized or are not even aware of new technology that could automate things for them allowing for more income.) Well, often when I see an opportunity like this I will buy the company, give it a facelift, increase the numbers and then go hunting for a new buyer. Buying and selling businesses are a great strategy for growing wealth.

Douglas Vermeeren, Millionaire Mentor

Douglas Vermeeren, Millionaire Mentor

Douglas Vermeeren is considered the Modern Day Napoleon Hill. He is the CEO of the Monthly Millionaire Mentor Program, author of Self Made Millionaires for Dummies, Guerrilla Millionaire, Guerrilla Achiever and The Millionaire Myth. For more on Vermeeren go to: http://www.DouglasVermeeren.com

A Secret Lesson in Growing Wealth

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Top Secret money strategies

Top Secret money strategies

A secret lesson in growing wealth

By Douglas Vermeeren

 

There are many financial programs, seminars and advisors that provide  the promise of financial abundance and instant changes to your current financial situation. Yet many of these programs offer complex strategies on money management and investment that either require a degree in economics to implement or in the end don’t provide the pay off that they promise. Is there a formula or system that will work to create greater financial security and an abundance financial future? Is there a strategy that will work for everyone, even those who don’t have extensive financial education?

 

Some gurus suggest there is no such thing as a blanket answer that will provide a solution to the financial challenges that so many people face today.  But is there?  And if there is, where do I find it and what do I do with it once I possess it?

 

There is a solution. One that will will work for everyone. The only difference will be in how it is applied. The challenge for most people is that this solution has been a secret. When you hear what it is you may not agree that it’s a secret, because it is so simple. But just because an idea is simple – don’t mean it is well understood. In fact, we generally measure how well something is understood by how common it is practiced. If that is the measurement of how well something is understood – then this is one of the greatest secrets ever revealed to mankind about money. Here’s the secret to become debt free, financially abundant and achieve incredible prosperity. Are you ready?

 

The Secret: It’s not how much money you make, it’s how you spend it!

 

The illusion: Most people think that how much they spend day to day is not really going to make a difference to their overall experience financially. But this is far from the truth.

 

The way money is spent in your life will either create freedom and opportunity or take it away.  Too often people assume that incredible opportunity and extreme freedom are given only to those with a lot of money. Again, that freedom and opportunity are found in how the money is spent. We see examples are around us (especially among celebrities and professional athletes) who make millions of dollars but become victims of vice and in a short time find themselves with a shrinking experience of freedom and opportunity until their popularity and money have both vanished. on the contrary we also see many who begin with very little money and ultimately become highly freedom and experience an abundance of opportunity. Such was the case with Warren Buffet who at his first job made close to $12,000 annually but later became one of the wealthiest men in the world.

 

So how should you spend your money for greater financial success? Before I answer that it is important to remember that every purchase you make is an investment. You are trading your money for what you value most. Having said that keep in mind that there are purchases that return value (appreciate) and purchases that do not return value. (Depreciate)

 

The difference between high net worth individuals and those in poverty situations is found in where they spend their money. A recent study demonstrated that people in poverty situations, or paycheck to paycheck survival mode typically spend an average of 97% of the income on purchases that do not appreciate or provide a return in value. This could include things like entertainment, shopping, eating out and so forth. So what amount do you think high net worth individuals spent on items that appreciate in comparison. I am always amazed when I ask this question at seminars. Attendees usually shout back answers like 50%, 60% or even as high as 80%. Is that what is required to become financially abundant – to dedicate the vast majority of your entire income to your future financial self. It doesn’t sound like fun.

How are you Spending your money?

How are you Spending your money?

 

Thank goodness that is not what is required. In fact, the difference is quite small. High net worth individuals actually spend only an average difference of 5% on assets that appreciate. But that 5% makes a huge difference. It reminds me of the saying that a large ship is steered by a small rudder. This is true in wealth building as well. The difference in the large things comes down to consistency and effectiveness in the little things.

 

One of my favorite life experiences so far has been to stand on the Great wall of China. Although the Great wall can be seen from outer space, when you get up close its interesting to see that it is really made up of small tiny bricks. This is the same way financial abundance is created. Small moments assembled to create significant victories.

 

One other thought: You may have heard about the expression – ‘Disposable income.”  I don’t believe it exists. Disposable means to throw away. If you are in the habit of throwing money you will never be financially free. There is no such thing as disposable income. And if you have been throwing away your money – stop it.

 

Remember how you spend your money makes all the difference.

 

So what can you do about it?

 

- Start looking more carefully at your purchases every day.

  • Consider what these purchases are costing you monthly and yearly
  • Explore where you can better use your money

 

Remember it doesn’t take a large shift in your money to make a difference. But it does require that you make some changes and you become consistent in better spending habits. As you do this you will find greater financial abundance and more freedoma nd opportunity.

 

Douglas Vermeeren - Millionaire Mentor

Douglas Vermeeren - Millionaire Mentor

Douglas Vermeeren is the CEO of the Monthly Millionaire Mentor program (www.TheMonthlyMillionaireMentor.com) He is also the author of Guerrilla Millionaire, Self-made Millionaires for Dummies, The Millionaire Myth, Millionaire Wisdom. He is considered one of the top wealth trainers in the world today. You can find out more at www.DouglasVermeeren.com

What you believe can make you a money magnet!

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money on your mind?

What you believe can make you a money magnet!

By Douglas Vermeeren

In 1993, Collin was a young man just out of college when he firsthad the idea. He got it by driving through his community on a saturday afternoon. Everywhere he looked it seemed that people were having garage sales. As he stopped and poked around here and there the idea hit him. At college he had had his first brush with something new called the internet. Everyone he talked to suggested that this new network would change the world. As he wandered through the garage sales the idea came. What about starting a website that would allow people to sell things worldwide? Later that night with the idea still fresh in his mind he flicked on his TV and saw a live car auction. That’s when the idea really caught fire in his mind. What about creating an online auction site where people from around the world could bid on items that people wanted to sell? The idea fascinated Collin and he continued to think more and more about it. The idea seemed wonderful. A week went by, then a month, then a year. You might be thinking that Collin was the founder of what became ebay, but he wasn’t. In fact, Collin never even tried to build his website. When I met Collin is 2009 he told me about this experience and this great idea he had and reminded me that ebay had reported revenues of 7.7 Billion dollars last year. I could tell he wasn’t very happy about that.

I asked him about why he hadn’t tried to do something with his idea when he had it. He was ahead of his time and he most likely would have been extremely successful. He told me the answer came down to one single thing.

He didn’t believe he could do it.

If you’re wondering what the first essential ingredient of becoming a money magnet is… well, that’s it. You have go to believe that you are able to do it. Believe is a powerful thing. Henry ford said it best that whether you believe you can or believe you can’t either way you are right. I know believe sounds like a very elementary thing to start talking about, but in my ten years or so of teaching success and achievement, believe is the #1 thing that keeps people from greatness. It’s not necessarily that people either believe or disbelieve they are capable – it’s that they either don’t really believe they are worthy or ready to receive what they really want or they believe they are entitled to what they want but they don’t understand that you have to do more than just believe. You actually have to do something with the believe.

Let’s talk about both.

First the idea that people don’t always believe that they are worthy or capable of the success they are seeking. Specifically financial success. There is a principle in psychology known as investment bias. Basically what it says is that our minds feel that in order to receive a specific reward there is always a price to be paid. In other words the theory is that you have got to believe that you have invested enough effort, time, energy, resources or whatever it is in order to feel worthy o receive.

While it is true that in order to be a money magnet there are things you will have to do. But there is a slight problem with the theory of investment bias and wealth. People generally have no idea what a sufficient investment should be to be worthy of a specific return. As a result many people continually find themselves feeling more and more unworthy even though they are giving tons and tons of effort, resources, time and energy. How much of a payment is really required? People don’t know so they keep paying and thinking themselves unworthy? If you don’t see value in what you are contributing it is very difficult to be compensated and attract money.

So how do determine if you’ve paid the price? Do you ask someone else? Do you make a chart and record your hours? Do you find someone in your field and gauge your worth by how you feel your efforts measure up to theirs and value yourself in the same monetary way? These are all way that will reenforce your feelings of unworthiness. All of those methods are based on a competitive comparison. History has always demonstrated that comparisons like this will always leave you feeling like you are behind someone else. There is a place for competition, but it does not belong beside your belief in yourself. We’ll talk about where belongs later.

Yourself worth is something that only you can decide. You must decide that you are worth it and that you can be a valuable contributor. When you decide to believe in yourself and recognize that you are worthy to receive you will have activated the first element of creating your money magnet. The way to create more feelings of worth and worthiness is contains in the second part of this discussion on belief.

You’ll remember I said the second thing I encounter often about belief is people who believe they can do it because they feel it with all their heart, but they do nothing about it. It reminds me of the kid that goes onto American Idol thinking he is the next big thing, “I am the next American Idol.” Then he get s up there to sing and yikes, it is disastrous. He has no skills. Believe is never enough if you don’t have the skills. A true believe in oneself means that you become personally engaged in pursuing the thing that you really want. If you want to become a true money magnet you will believe it enough to start learning and doing the things that will make it more likely you can succeed. So how does this tie into the first part about worthiness?

Here’s the deal, remember the idea of Investment Bias. The psychology theory that states we must feel as though we have paid a price before we are entitled to something? Well, if you start believing enough to seek after the skills your feelings of worthiness will grow.

So before we move onto the next principle my challenge to you is Believe enough in yourself to actually do something about it. And my reminder is that until you do believe, and I mean firmly believe you can’t be abundant and wealthy nothing is going to change.

Douglas Vermeeren

Douglas Vermeeren

Douglas Vermeeren is the CEO of the Monthly Millionaire Mentor program (www.TheMonthlyMillionaireMentor.com) He is also the author of Guerrilla Millionaire, Self-made Millionaires for Dummies, The Millionaire Myth, Millionaire Wisdom. He is considered one of the top wealth trainers in the world today. You can find out more at http://www.DouglasVermeeren.com

Douglas Vermeeren featured on the Full Potential Show

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Learn the secrets of becoming wealthy from the CEO of the Monthly Millionaire Mentor. Douglas Vermeeren appears on the full potential show with James Rick. In this interview you will find some incredible insights into getting to your goals, growing your wealth and increasing your success!

http://www.fullpotential.com/douglas-vermeeren/

http://www.TheMonthlyMillionaireMentor.com

Bill Walsh joins the Monthly Millionaire Mentor Faculty

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Bill Walsh joins the Monthly millionaire Faculty.

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