Douglasvermeeren's Blog

Just another WordPress.com site

Archive for the ‘Wealth growth’ Category

Millionaire Training Systems coming to Calgary August 27

leave a comment »

Millionaire Training Systems coming to Vancouver August 26th.

leave a comment »

Things I learned from a Billionaire that made me Rich

leave a comment »

How are you Spending your money?

Things I learned from a Billionaire that made me rich (Part 1)
By Douglas Vermeeren

Over the last decade I have had the opportunity to spend time with several millionaires and billionaires. As I made the movies The Opus, The Gratitude Experiment, The Treasure Map or doing research for some of my books I have had the opportunity to extensively grill these financial superstars about how they got to their financial independence. I have learned a lot. In fact, as I have applied many of the lessons that they have shared I have been able to create abundance and financial freedom in my own life.

Several of these lessons have made it into the projects as described above but of course how can you possibly share everything in one project? It’s impossible. Probably the most comprehensive outline of what I have learned so far was published in my book with Jay Conrad Levinson, Guerrilla Millionaire – Unlock the secrets of the self-made millionaire or in my Dummies book – Self-Made Millionaires for Dummies. However even those books are incomplete as there are many things which I learned and continue to learn from these mentors that shape my financial life regularly.

I guess that would be the one thing that we could talk about in this article: The importance of continual learning.

What you learn will always determine what you earn. The bottom line is that if you don’t understand principles about how to use and grow your money you can’t use that principle. I remember sitting once with Frank Maguire, who was one of the co-founders of FEDEX, in a shopping mall having an Orange Julius. As we sat there having a conversation he asked me an interesting question. His question: “What is the most expensive thing in the world?”

HIs answer, “Ignorance. Ignorance is the most expensive thing in the world. Because it costs you money, keeps you from making money and costs you time which is the most expensive thing because once its gone you can never get it back.”

If there is one thing that I have observed more than any other attribute among the wealthy is that it their desire to understand and learn everything they can about the issues they are involved in.

I once sat in Bill Farley’s living room and observed this situation first hand. For those who don’t know Bill he was the former CEO of Fruit of the Loom and at one time an owner of several other companies and brands that most people would know. Brands like Anaheim Citrus, Acme Boot Co., and at one time was a partial owner of the Chicago White Sox baseball team. So we were spending some time in his living room when his assistant along with a few team members came in to discuss a few pressing business issues.

They asked him a few questions which most people would have simply answered and moved on. But that’s not what he did. He took a moment and talked with the group gathering their thoughts, expertise and opinions. Now armed with all the facts and possible solutions which they had brought forward he rendered a decision.

That day I understood that the best way to create wealth in a company was to be sure to use your assets which included the brains of those around you.

In my personal business dealings with him I found that he always operated in a similar way. He would always have other experts involved in gaining answers to areas where his experience was limited. Every effort was focused on gathering insights before an action or decision was taken. But having said this I want it also to be clear that in no way did he, or anyone else I observed doing this, ever take a long time to make a decision. They never became victims of analysis paralysis or over analytical processes. They quickly gathered what they needed to know and then pulled the trigger and got it done.

Surrounding yourself with the right people is a powerful way to learn. Naturally this can be done by attending classes, seminars, networking events, charity events, fund raisers and gala events where you have access to new mentors or coaches. These kinds of activities or events are also brilliant locations to meet people who are interested in creating the same financial situations that you crave.

It may be tempting to say that you a re broke and that you can’t afford a ticket to attend such events. However, I have found if you only stick to the least expensive events you will only be connecting with others who are broke. In order to make friends and form relationships with those who you can learn from, you have to go where they go. And a $10 breakfast meeting generally won’t do it.

Not too long ago I had lunch with Bill Bartmann. You may know Bill, he was featured on the cover of Forbes magazine in 1997 as one of the 400 richest men in North America. At the time Forbes estimated his wealth to be between 2.4 and 3.5 billion dollars. As we sat down he simply ordered a burger, fries and a coke. One of the best lessons that he shared with me over our lunch was to always invest a portion of my income back into developing myself and learning as much as I could about my industry and business.

Money comes to those who understand it and value it most. Innovators become wealthy. But you can only improve on what you already understand. It’s like learning how to play basketball. You can’t do a trick shot until you’ve learned to dribble. Basics come first. And one of the reasons so many people are broke is that they haven’t even gotten a grasp of the basics.

So get learning! Learn everywhere you can and from everyone you can! Put a plan in place to start dedication a portion of your income to growing yourself and your bank account. The more you learn the more you will truly be able to learn!
About Douglas Vermeeren
Is there a pattern that rich people understand?

Are there clues that they leave behind that anyone can apply to become financially free?

Douglas Vermeeren thinks so. Over the last decade he has conducted research into wealth creation, financial freedom and the lives of top achievers in this area. He believes that there are a handful of hidden keys and concepts that are keeping people everywhere from creating untold wealth and abundance in their lives. Without these missing elements, no matter how hard they work, or how valuable their business ideas are or even how much they save for the future MOST PEOPLE WILL NEVER BE RICH!

Douglas Vermeeren is the author of Self-made Millionaires for Dummies, Guerrilla Millionaire, Millionaire Wisdom and The Millionaire Frequency. He is regularly featured on CNN, FOX, FOX BUSINESS, ABC, NBC, CTV, CBC and Create Wealth Today. He is the movie maker behind The Opus, The Gratitude Experiment and the new film on Wealth Creation, The Treasure Map. http://www.MillionaireTrainingSystems.com

Millionaire Money Masterminds

leave a comment »

Calgary IS SOLD OUT! The Vancouver event is quickly selling out. If you’d like to come better take action!

Millionaire Money Masterminds

Millionaire Money Masterminds

Maximum Results – Douglas Vermeeren 12

leave a comment »

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

Tagged with , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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

leave a comment »

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

with one comment

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