Wednesday, October 28, 2015

Turn words into action and implement them

Rich dad believed in the power of words. He believed that our words had the power to shape our reality because they revealed what we thought and believed about the world.

Rich dad was echoing what Gandhi once said, “Your beliefs become your thoughts, your thoughts become your words, your words become your actions, your actions become your habits, your habits become your values, your values become your destiny.”

The question I have for you today is, “How are your words representing your thoughts and beliefs, and how are they informing your destiny?”

I believe one of the most powerful ways to shape our destiny is to tell our story and listen to others tell their story—both about themselves and about us.

Here’s an example: One person says, “Someday I’ll be an entrepreneur.” Another person says, “I am an entrepreneur.”

Even if each person’s circumstances were the same, which one would you think has the most likely chance to succeed?

My money would be on the person declaring him or her self as an entrepreneur than on the person hoping to be one someday. Why?  Because as Gandhi says, “Your words become your actions.” If you declare yourself to be something, as long as it’s within your natural ability and power, you will more than likely be taking action to be that very thing, even if the world hasn’t quite caught up to you yet.

How words can shape our reality

Take the example we can probably all relate to: getting in shape. Many people have the intention of going to the gym and getting in shape. Some might even say, “I want to get in shape.” But it’s when we go around telling people we are getting in shape that we have to take action.

And here’s the magic in those words. By saying you are getting in shape, you must take the action of going to the gym (or face the ridicule of those you told!). At first it’s hard, but pretty soon that action becomes a habit, one you couldn’t imagine missing each day. As you get into the habit of working out, you begin to value a healthy lifestyle. You eat better. You stop smoking. You get more sleep. And as your values change, so does your destiny, going from an unhealthy and short life to a longer, healthier life. It all started with your words.

If you want to be an entrepreneur, start today by using words that you know will spur you into action. I guarantee that if you do, those words will become actions, then habits, then values, and then a changed destiny.

Monday, October 26, 2015

Rich women and men understand assets vs liabilities

Suze Orman is a self made millionaire who has financial intelligence
It's not about how much money you make. It's about how much money you keep.

Money without financial intelligence is money soon gone. You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know.

Most people struggle financially because they do not know the difference between an asset and a liability. An asset puts money in my pocket. A liability takes money out of my pocket.

Monday, October 19, 2015

Control your expenses to get rich

When I say the word "expenses," what kinds of feelings arise in you? Many people feel a sense of anxiety, or they may feel a little bit of fear. Certainly most people aren't comfortable with the idea of expenses. Why is that?

For most people, expenses are things that take away our money. They are obligations rather than opportunities. For some, they are the things that put them in the red month after month.

But there are different ways to look at expenses.

Rich dad often said, "It is through the expense column that the rich person sees the other side of the coin. Most people only see expenses as bad, events that make you poor. When you can see that expenses can make you richer, the other side of the coin begins to appear to you."

He also said, "Seeing through the expense column is like going through the looking glass as Alice did in Alice and Wonderland."

When I was young, rich dad taught me how to utilize the expense column to make myself richer.

"By having a plan to be rich and understanding the tax laws and corporate laws, I can use my expense column to get rich," he said to me. "The average person uses their expense column to become poor. If you want to be rich and stay rich, you must have control of your expenses."

Ways the expense column makes you richer

The reason most people become poorer through the expense column is because they spend their money on liabilities that take money out of their pocket-things like expensive cars, vacations, clothes, and more.

The rich buy these things as well, but they also buy things that make them money-assets that pay for their liabilities.

When Kim and I were first married, we committed to making our investing an expense in our budget. Each month, we paid ourselves through our expense column the money we needed to save up for and purchase assets that would provide us cash flow. This was an example of an expense that made us rich. Not only did the asset generate income, but it also was passive income that is taxed the lowest, so it also saved us money in taxes.

Another way our expenses make us richer is by purchasing as much as we legally can through our businesses-things like eating out, travel, phones and computers, and more. All of these things that we need, and that almost everyone needs, can be purchased by our business against our income. The result is we pay much lower taxes.

A final example of how the expense column can make you richer is real estate and depreciation. Each year, for all our rental properties, the IRS allows us to take a portion of our property and write it off as depreciation. It is an expense that is really income because it costs us nothing but saves us money in taxes.

High expenses > high income

If you understand these examples, then you will understand why rich dad-and Kim and I-wanted low income and high expenses. That is our way of getting rich.

"Most people eventually lose their money and go broke because they continue to think like a poor person, and poor people want high income and low expenses. If you don't make the switch in your head, you will always live in fear of losing money and will try to be cheap and frugal, rather than be financially intelligent and become richer and richer. Once you can understand why a rich person would want high expenses and low income, you will begin to see the other side of the coin."

Monday, October 12, 2015

Technology as a tool to help business grow

It used to be that in order to build a million dollar business, you needed to invest in a lot of overhead, such as a building, inventory, and employees. But today, you no longer need to make these kinds of investments to be successful.

As Elaine Pofeldt wrote for Forbes magazine:

    According to new statistics released by the U.S. Census Bureau, there were 30,174 "nonemployer" firms that brought in $1 million to $2,499,999 in 2013. That's up from 29,494 in 2012 and 26,744 in 2011. And there are many more nonemployer businesses getting close to the $1 million mark. In 2013, there were 221,815 bringing in $500,000 to $999,999, a number that held steady since 2012.

Nowadays, a solopreneur can create a big business making millions of dollars. And the solopreneur can do it using systems right on his or her laptop. The solopreneur can send automated emails, sell from his or her store, post marketing campaigns, send and receive shipments, and find new customers-all without doing a thing. The system does it all for them.

But, when it comes to technology, sometimes it can be hard to know where to start. The following are ten essential tools you can use as a solopreneur to drive your business to success.

Google Analytics (Free)

Every successful solopreneur business should have a great website, but that's not enough. You also need to know what your website visitors are doing. By using Google Analytics, you can get the insights you need to know what is and isn't working on your website-as well as what your potential customers are finding most valuable.

Buffer (Free and paid)

In today's marketing world, social media is an essential part of success. But who has time to be online posting things all the time? And how do you know if it's really working? Buffer boasts itself as "the best way to drive traffic, increase fan engagement, and save time on social media." Through Buffer, you can schedule posts on your computer or mobile device to automatically go out on the major social networks and access in-depth analytics on how your posts are performing. It's easy to use and frees your time up significantly.

QuickBooks (Paid)

Solid accounting and books are key to business success. QuickBooks allows you to quickly and efficiently keep your accounting up to date, clean, and actionable-all without hiring a bookkeeper. And come tax time, these clean books will help you save a lot of time, money, and stress. And QuickBooks is now online, so you can record expenses and more while you're on the go through the cloud.

Infusionsoft (Paid)

It used to be that you needed a staff of experts to keep your sales and marketing machine running. Infusionsoft is a Customer Relationship Management (CRM) and marketing automation platform built specifically for small businesses that can be your sales and marketing administration staff 24/7. Keep track of your customer interactions, know who's ready to buy and who's not, and create email campaigns that are personalized and go out automatically based on how customers and potential customers interact with your offerings.

Asana (Free and paid)

Solopreneurs are notorious for having a lot on their plate. It's essential that for your own projects and projects you're working on with clients and contractors that you have a solid project management tool. Asana is that tool-"with tasks, projects, conversations and dashboards, Asana enables teams to move work from start to finish." And as a cloud-based application you can manage your work from anywhere and at anytime, including your mobile phone.

LeadPages (Paid)

An essential part of building an online business is building your email list and creating different campaigns and offerings to drive business. LeadPages makes that super simple, allowing you to build templated landing pages and utilize opt-in forms for list subscriptions. It works with your existing website easily and can help you quickly build an online selling machine without the need for a developer.
Harvest (Paid)

If part of your business involves service, it's essential that you can track your time and costs, as well as invoice your clients accurately and efficiently. Harvest allows you to track time via your desktop or on your phone, monitor progress on projects and make forecasts, and to invoice you clients with a click of a button. And it has a number of integrations, including with Asana and QuickBooks.

Dropbox (Free and paid)

Online business moves at the speed of light. You can't afford to keep your documents in one place. You need access to them all the time, wherever you go. Dropbox is a centralized, cloud-based document storage system that allows you to access your files and documents 24/7. As changes are made in one place, they are updated in Dropbox and applied on every device you use to access Dropbox. No more calling up your assistant to pull that contract.

FreshDesk (Free and paid)

Any business that doesn't give swift and excellent customer service is a business that will go out of business. FreshDesk is a helpdesk and customer support platform that helps you keep your customers happy by making sure every issue they have is solved and accounted for. With a host of tools that can be accessed via your computer and your mobile phone, you are able to always help your customers out in quick order.

Square (Paid)

Of course none of these tools help you out unless you can get paid. That's where Square comes in. With Square you can process payments online and on your phone for any transaction.

Bonus round: Zapier (Free and paid)

Life gets even easier when all your apps and tools work together online. Zapier makes that happen. As they state on their website, "Connect the apps you use, automate tasks, get more out of your data." With hundreds of "Zaps", Zapier connects your apps to automate all sorts of processes-saving you time and money.

Wednesday, October 7, 2015

Be humble to learn more and achieve success

“One of the great things about being willing to try new things and make mistakes is that making mistakes keeps you humble. People who are humble learn more than people who are arrogant.”

Robert Kiyosaki is a Japanese American investor and author of popular book 'Rich Dad Poor Dad' where he wrote of his two dads. His rich dad taught him to think differently, inspired and helped him get rich on his own.

Monday, October 5, 2015

Robert Kiyosaki conference in Manila on November 30, 2015

Robert Kiyosaki, author of popular book Rich Dad, Poor Dad, will be in Manila, Philippines on November 30, 2015 for a 1-day conference, joined by 7 other personal finance gurus who will share their know-hows on how to fast track and manage your wealth.

The conference will run at the SMX Convention Center, Mall of Asia, Pasay City from 9 am to 8 pm. From here, participants can learn about:

    -The importance of financial education
    -Why right now is your best opportunity to start a successful business
    -How good debt is easy to get and can make you rich
    -Raise venture capital to fund your dream
    -The skills you must know for business, sales, and entrepreneurial success
    -What holds back the average person from achieving more in life
    -How to transition from an employee mindset to a business owner mindset
    -The good, the bad, and the great opportunities to thrive in 2016
    -What you will need to capitalize on global volatility in 2016
    -Generate multiple streams of income before the crash in 2016

Kiyosaki's book, the New York Times bestseller Rich Dad Poor Dad, has said to have challenged and changed the way millions of people around the world think about money.

He forecasts that a global market crash in 2016 would be worse than the 2008 economic crash, which could wipe out the poor and the middle class, but would make the rich richer.