The 5 Phases of Building Your Cash Machine

10 May The 5 Phases of Building Your Cash Machine

Printing-MoneyA cash machine is simply a small business that will get you on your fastest path to cash.

In other words, use your current skill set. There’s no learning curve, no need for a business plan, and no need for startup capital.

Phase One: The Plan

Don’t get stuck in “analysis paralysis.” Don’t make it hard! Make a list of your current skills and interests.  Which of those can you turn into a marketable product or service?

Someone is already doing whatever it is you came up with, or something close to it. Google it! Is it a viable idea? If so, do your research. Find the who, what, when, where, why and HOW it’s being done.  There’s your plan.

Phase Two: Set Your Price

One of the biggest problems starting out is figuring out what to charge. People believe that they get what they pay for, so don’t diminish what you have to offer in an attempt to make the sale. You’ve researched other businesses and you know what the going price is. Figure out what will set you apart – what will make what you offer distinctive. Then charge what you are worth!

Phase Three: Redefine Who You Are

Since you’re moving at a quick pace, your psychology needs to get up to speed with your need to ask for the cash. You need to build your confidence. Become that person that’s not worried about money, who knows they can make money anytime, and who’s sure what they have to offer is of value. A good way to do this is to “fake it until you make it.”

Phase Four: Ask for the Cash

Talk to people. Tell them that you’re in business and what you have to offer. In fact, you’re probably already doing things that you could be making money doing. Ask for the cash! My advice to get started is to get ten “no” answers every day. When you make that first sale your confidence level greatly increases and there will be no stopping you!

Phase Five: Taking it to the Next Level

Once you’ve achieved a consistent income per month you’ll see that making new money is easier than you ever thought possible.  But your accomplishment is much bigger than you think it is.  There’s more to it than a little independence. There’s a lot of empowerment. You’re learning while you’re earning.  And now there’s the potential for a lot more. Take it to the next level!

You don’t need to understand finance or economics. You don’t need an in-depth business plan or startup capital. You don’t need to quit your job. You simply need to manage your time and energy into a money-making venture based 100% on the skills and knowledge you already have.

I believe you can do this because I did it. And it dramatically changed my life. I’m a Best-Selling Author, International Speaker, Money Coach and CEO and Founder of Live Out Loud, Inc. — a multi-million dollar per year and growing business.

Now. Go do it for yourself.

 

8 Comments
  • Jacob Roig TheOnlineMythbuster
    Posted at 15:34h, 10 May Reply

    Great share Loral. This seems too simple! I can tell you that Loral is the master at getting people to this place quickly if they are willing to fight through the mind chatter that has blocked them from moving forward.
    Loral always says ready, fire, aim! You have to make a decision and follow it until the end, no matter what!

  • Sandra McFadin
    Posted at 16:06h, 10 May Reply

    These steps are super helpful and the best overview of how to get forward motion that I’ve ever read. I’m going to share with friends who seem “stuck” between steps…Thanks Loral!

  • Rick Cooper
    Posted at 16:07h, 10 May Reply

    It’s interesting how simple the concept of “Ask for the Cash” is, and how few people master this process. I like your suggestion of getting 10 “no” answers not because that’s a good result, but because it helps people overcome their fear of rejection. And if you can overcome your fear of rejection, you will become “Unstoppable”!

    • Anonymous
      Posted at 16:50h, 13 May Reply

      And while you’re getting your 10 “No” answers you’re bound to get some yeses!

  • Andrew J. Gay
    Posted at 17:04h, 10 May Reply

    “You simply need to manage your time and energy into a money-making venture based 100% on the skills and knowledge you already have.” <—- Wow, that's powerful Loral.

  • Mark Garratt
    Posted at 17:10h, 10 May Reply

    The most difficult part about this is to believe that your cash machine has value to others. Don’t underestimate yourself OR your passions. What come easy and is fun to you can be a real need for others. To not follow your passions can deprive others of a better life.

  • Rebekah
    Posted at 17:27h, 10 May Reply

    The best way to enact these 5 Phases right away….attend a 3 Days to Cash workshop with Loral. You will have these down in no time!

  • Jessica Shouppe
    Posted at 17:30h, 10 May Reply

    Wonderful advice.
    I know I’ve struggled with setting prices and asking for the cash before, and working with Loral’s “Ask, Tell, Ask” System really really helped

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