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The Most expensive things in the world…

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A few years ago I was sitting with Frank Maguire, one of the co-founders of FedEx and he asked me a question. His questions was simple, “What is the most expensive thing in the world?” 

The reason this question is important in for entrepreneurs and building wealth is because I have found as important as it is to do the right thing, there are equally dangerous things that you can do that will rob you of becoming wealthy and productivity. Naturally Frank’s question has led to some serious thought over the years. As I have thought about this question I have decided that there is a relatively important list of things that become expensive that most people never think about and that list exposes us to things that cost us money, keep us from making money and most important cost us time. 

I call this list the “most expensive things list”. I invite you to consider the things here and how your current involvement with these things might be costing you money and opportunity.

  1. Excuses – Excuses are essentially lies we tell ourselves to keep us from being accountable. We lie to ourselves to remove responsibility but in the process we also remove our results. Success in creating wealth means that we sometimes have to put ourselves on the line and make things happen even when it requires us to become uncomfortable. The wealthiest people I know find a way while those who are broke stop at finding an excuse.
  1. Bad advice from broke people – It has been said that where you get your advice will determine where you get to wind up in life. The problem that I have observed over the years is that too many people stay broke because they simply get bad advice from other broke people. Sure those people may be trying to help, they almost always have good intentions, but they are just as broke as you are. It’s like a drowning person trying to teach you how to swim. It doesn’t make much sense does it? 
  1. Setting low personal standards – Your standards begin with what you believe you are entitled to and what you’re worthy of. As I have taught wealth strategies around the world it is very common to see people who believe that the most basic wealth strategies are sound and will work – but that they quickly suggest that they will work for other people and not for themselves. It’s almost like they believe that they have some kind of curse that will keep them broke and in poverty. Nothing could be further from the truth. Money itself doesn’t care. If you follow the patterns that create wealth you will become wealthy. There is no luck involved. Raise your standards in terms of what you are willing to do, who you are willing to learn from, what you feel you are worth and how much effort you will put in and you can’t help but see results.
  2. Ego – Most people stay broke because they feel like they already have all the answers. As one of my mentors put it to me when I was a young and smart-alec teenager, “You can be rich or you can be right. You can’t be both.” He then pointed out that if I was determined to hold onto my ego I would get to keep everything that went along with it. That meant everything my ego had created I would get to keep no more. My financial situation was based on my understanding at that point and so if I chose to stay the same my situation would stay the same. Ego is one of the greatest enemies of success.  Choosing to be rich starts with choosing to be teachable.
  1. Procrastination or hesitation – Procrastination is putting on hold something that you know you should do and it has never created wealth or success. If you know what you want you must do it. You must seize opportunities you are seeking. I have seen many many circumstances where deals have gone to the fastest person to say yes. If something is a good deal and a good opportunity chances are very good that others are rushing for the same deal. Don’t miss out because you hesitate. There’s a reason why not everyone is wealthy – and that’s that there are often a scarcity of opportunities.  I also believe the universe is like an echo chamber. If you show up with hesitation everything will show up for you with the same hesitation. If you show up with boldness everything in your life will show up the same way. After having spent time with some of the most wealthy people in the world it has been evident to me that not one of them is a procrastinator. When opportunities show up they move quickly even if they don’t have all the answers.  Another important thought on procrastination. How many wish they would have started buying properties for example when you were in your late teens? So why did you wait? Why are you waiting now?  There is a Chinese proverb that says the best time to plant a tree was 20 years ago and right now. You may not be able to go back in time to plant the tree but if you don’t do something today you are creating exactly the same kind of regret. One of the properties I bought early in life I paid $55,000 for. This was in the mid-1990s. Today that property is worth around $359,000. I also have wishes and my wish is that I would’ve bought more. You are always going to experience this – but getting started today with what you can do today will at least get rid of a few of these big regrets.
  1. Lack of clarity — perhaps this point is linked closely to the concept of avoiding procrastination. When you lack clarity of purpose or an understanding of how your money will be made you can’t become skilled enough to quickly evaluate opportunities. As a result you miss a lot of opportunities which slows down your ability to make progress and build your wealth. Once you identify your strongest opportunities for creating wealth you must learn ahead of time what you need to do to be able to be prepared for those opportunities when they arrive.
  1. Poor influences – You’ve heard it said that your network equals your net worth. This is certainly true. Not only does this reflect in the people you learn from but even more so about the what people around you expect out of life. If you are surrounded by people with low expectations you won’t create much. If you are in a community of people that are striving to create wealth and excited about it you will do the same.  Like attracts like. If you want to be on fire you best be a log in the fire rather than a spark off in the distance alone trying to stay hot. 
  1. Crappy trades/patterns – Wealth is created primarily through the accumulation of good trades. Most obviously when we acquire an asset that generates cashflow or capital gains that’s a good deal. But these trades start at a more basic level than assets. They start even with the trades of how we prioritize our day and utilize our time. When you allow trivial things to take over your day in exchange for powerful things you don’t create powerful things. Make better trades in all areas of your life. And let’s be honest one of the things that people want is wealth for free. You can’t have it for free. You will have to buy something. You can never save your way to wealth. You can only do it through smart purchases. For example, you can’t collect the rent on a property you don’t buy. You can’t get a dividend on an investment you did buy. You must learn to make smart purchases and trades and that is the only option.
  1. Being a solopreneur – Wealth is a team sport. If you try to do it alone relying on just your own knowledge, money, time, opportunities and expertise you will soon find limitations. You only have so much time, energy, know how and money. Think about the most obvious example of real estate. If you want to acquire a property to start producing cashflow with you will be waiting a long time if you try to pay for it by yourself. You will have to save the entire purchase price of the property and closing cost. Certainly the property will be gone by that time. You must learn and use the principle of leverage if you are going to be successful. You can’t win the gain of wealth playing by yourself.
  1. Lack of know how – This means education. You can only earn what you learn. You can’t implement what you don’t understand. No meet how willing you are to succeed you will never create success unless you add to that willingness a correct understanding of what you need to do. Correct actions not dreams create results. 

And lastly as a bonus thought one of the most expensive obstacles to wealth are the stories that people tell themselves that keep them broke. Perhaps this can be an expansion on the first point of excuses. That’s really what stories are. You can’t tell yourself stories about why you aren’t good enough, why something won’t work or why you can’t participate. If you are committed to becoming wealthy you have got to make a clear decision that this is what you will do.

Follow me for more @dougvermeeren or Douglasvermeeren on Instagram.

Teaching about money in schools

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College-Tuition

Recently a friend of mine posted a new article on Facebook about how in his area the school system has decided to start teaching about money in the local high school. I think this is a great start as most schools don’t educate students about what ends up being one of the most important life skills that they will ever gain.

My challenge is that whenever these money courses are offer they are general taught by financial institutions or people within that system. Those advisors are trained to invite you to save, invest in specific investment instruments and follow their prescribed pattern. Most of the time people who follow this route maintain an average yet secure income.

That is one route to understanding money.

Why I want to know is why don’t they ever invite the entrepreneur mindset to come in to talk about money. This group far surpasses the institutional people in terms of personal worth and and creativity. They also see money in far different ways that the ‘save and sit on it’ crowd.

If you really want to understand the economics of society you need to invite those who are conducting transactions into the conversation. Just sayin’

douglas-vermeeren-600Douglas Vermeeren is the CEO of the Millionaire Training Systems. He teaches wealth strategies and mindset. Unlike most wealth coaches and teachers in the market today Douglas Vermeeren actually makes money in the real world and not just through the sale of seminars or personal improvement products. He is the author of the book Guerrilla Millionaire, Millionaire wisdom and several other books on money strategies that build wealth in today’s marketplace. He is also known for his extensive research into the lives of many of the elite and wealthy of today. http://www.DouglasVermeeren.com

 

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May 1, 2017 at 10:23 pm

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10 lessons from Warren Buffet on success

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Tuesday, October 15, 2013
Fortune The Most Powerful Women
Washington, D.C., USA

9:00 AM SOLUTIONS DESK OPENS

Photograph by Stuart Isett/Fortune Most Powerful Women

10 Lessons from Warren Buffet on success:
1. Find your passion
2.Hire well
3.Don’t worry about what others think
4.Read Read Read!
5.Have a margin of safety
6.Have a competitive advantage
7.Build your schedule to suit your personality
8.Always find a way to be more competitive
9.Model success
10.Show unconditional love

Taken from various media interviews, articles and books with Warren Buffet.

#Warrenbuffet #MillionaireTrainingSystems #Douglasvermeeren #MillionaireBlueprint #7stepstoproserity #1wealthcoach #Moneymindsetmagazine

 

Douglas Vermeeren is the CEO of the Millionaire Training Systems. He teaches wealth strategies and mindset. Unlike most wealth coaches and teachers in the market today Douglas Vermeeren actually makes money in the real world and not just through the sale of seminars or personal improvement products. He is the author of the book Guerrilla Millionaire, Millionaire wisdom and several other books on money strategies that build wealth in today’s marketplace. He is also known for his extensive research into the lives of many of the elite and wealthy of today. http://www.DouglasVermeeren.com

Written by douglasvermeeren

April 29, 2017 at 10:16 pm

Posted in #1 wealth coach, Doug Vermeeren, douglas John Vermeeren, douglas Vermeeren, douglas vermeeren, douglas vermeeren asc, Douglas Vermeeren calgary herald, making more money, millionaire maker, Millionaire Mastermind, Millionaire Money Masterminds, Millionaire systems, millionaire Training systems, money, money magazine, self made millionaires for dummies, The Millionaire Mentor, wealth coach, Wealth growth

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You get to decide if you will be rich

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kfc2win

Most people live life like driving through a drive-thru without ordering at he first window. When they get to the second window they are disappointed when they either get nothing or what the person inside decides what they should have.

Most take what they are given rather than strive of what they want.

If you really want to begin a journey to creating more wealth in your life start by realizing you have the power to reach for what you want and recognizing that you don’t have to accept whatever shows up. Becoming more proactive and seeking for what you want is the most common attribute of the wealthy.

Wealth doesn’t appear by accident. You must seek it, create and nurture it.

douglas-vermeeren-600Douglas Vermeeren is the CEO of the Millionaire Training Systems. He teaches wealth strategies and mindset. Unlike most wealth coaches and teachers in the market today Douglas Vermeeren actually makes money in the real world and not just through the sale of seminars or personal improvement products. He is the author of the book Guerrilla Millionaire, Millionaire wisdom and several other books on money strategies that build wealth in today’s marketplace. He is also known for his extensive research into the lives of many of the elite and wealthy of today. http://www.DouglasVermeeren.com

 

 

Written by douglasvermeeren

April 8, 2017 at 11:04 pm

Posted in #1 wealth coach, Doug Vermeeren, douglas John Vermeeren, douglas Vermeeren, douglas vermeeren, douglas vermeeren asc, Douglas Vermeeren calgary herald, loral langmeier, make more money today, making more money, millionaire maker, Millionaire Mastermind, Millionaire Money Masterminds, Millionaire systems, millionaire Training systems, money, money magazine, self made millionaires for dummies, The Millionaire Mentor, wealth coach, Wealth growth

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Millionaire Training Systems coming to Calgary August 27

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Millionaire Training systems – Douglas Vermeeren 1-2

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Millionaire Training systems - Douglas Vermeeren 1-2

Millionaire Training systems – Douglas Vermeeren 1-2

Written by douglasvermeeren

December 1, 2013 at 2:54 am

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