Are You a Pro?

Years ago one of my most revered mentors Bob Proctor told me something so profound and simple that still to this day these are words I live by, he said… “Loral, pros play… no matter what.”

Folks, this is basic.

Get out there and stay out there because you are a pro and you play no matter what.

Look, I know it’s hard to keep on going sometimes. It’s easy to get side tracked when things get difficult or overwhelming but think of the alternative. Don’t take steps forward only to take more steps back.

I’ve never been one to sugar coat things. I don’t mince words when it comes to wealth building and by now you should know I believe that EVERYONE given the right information can create new cash in their lives. I’m a believer in keeping things simple and direct. I won’t tell you that it’s easy and with just a couple hours a day you’ll be instantly rich.

I will tell you to stay on track. Be in a cycle of learning. Keep your eyes and mind alert to what’s working and what’s not. Play smart. Play like a pro and always be in the game. If you want a well oiled Cash Machine, it’s there for the making. Put the work in and make it happen.

I suggest to each and every one of my workshop attendees to make yourself a schedule. Keep track of what needs to be accomplished in a day, week, month and year. By doing so it eliminates becoming side tracked, you accomplish your tasks and ultimately your goals.

If things are getting stale for you it’s time to clear your head a bit, get out of the situation and refocus on the big picture. Take a walk and get some fresh air running through your system. When you come back try looking at things from another angle you may find a solution.

When all you see are obstacles they become your focus. You’re a solution based thinker, give yourself some credit. Brainstorming is always a good exercise when you get stuck. Write it all down — even the horrible absurd ideas because this will purge your system and help you think clearly.

If you’re finding yourself overwhelmed with everything, it’s time to get your life supported. You need someone on your team to free your time. Your job is to create, sustain, and propel your Cash Machine. Ask for help if you need to but don’t get stuck. Keep going.

It’s easy to get your head in a jumble and succumb to the pressures of day to day stresses. The challenge is to have a way out of the jumble. Find something that will clear your head. Whether it’s walking, hiking, fishing or reading your favorite book identify an activity that will re-set your mind.

Remember creativity is at the root of solutions. The pros come up with the solutions no matter what!

Ready GO!

Loral

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Be a DOER!

For those of you out there still holding your breath and waiting for things to “get back to normal” it’s time to start taking in some air so you can get used to the fact that things may not ever be like they were. Things just might get even better but for the time being we as entrepreneurs need to shift and adjust. It’s not enough anymore to just go with the flow.

If you’re stuck in a holding pattern till things even out you might end up losing more than you bargained for. Being open to new opportunities and endeavors is one of the prime characteristics of a wealth builder.

Once you’ve accepted the fact that things are different you’ll be open to new ways for making money. What worked two years ago might not work in today’s economic climate. It may be time to rethink old strategies and make adjustments to your marketing and /or the packaging of goods and services.

Entrepreneurs are always on the lookout for new ways to create cash. Each of you has the ability to change the course of your destiny. It’s times like these that truly separate the doers from the whiners. Which one are you right now?

You’ve got to be in a cycle of continuous learning and earning. Stay abreast of what’s working for others. If you’ve modeled your Cash Machine after a similar company, perhaps it’s time to revisit their strategies. Be on the lookout for changing trends.

We have abundant opportunities! We all have the power to create wealth even in the current economy. We must remember to ask ourselves what we can do today to create wealth.

Be thinking about how you can make this economic change work for you instead of against you.

If you are stuck in a rut, remember you’re not alone. It might be time to get your self reorganized. Join a networking group. Have a brainstorming meeting with your team. Keep things going in a forward motion, don’t become stagnate!

If it’s time to make a change in your Cash Machine strategies — do it. Don’t hesitate. Business is like the economy, it’s ever changing.

I know things can get tough out there but if you’re just waiting for things to even out you’ll be waiting a long time my friend. You’ve got to think with your creative side and act on your good instincts. It’s understandable to get stuck once in a while but know that it’s up to you to snap out of it.

Are you in control of your future or are you listening to all the naysayers? Do you have a plan or are you just wishing? It’s time to get real, be honest, make changes where necessary and pull your self up by the boot straps. You absolutely can do this!

Ready GO!

Loral

P.S. Check out my new book here >>

Good Debt vs. Bad Debt… The Answer May Surprise You

In today’s economy there’s a lot of chatter regarding debt. People who have over extended themselves are scrambling to pay down debt when the focus should be on creating new cash. If you’re in trouble with mounting consumer debt the only choice for you is to find ways to put more money in your pocket.

Once you have a Cash Machine plan in action you need to focus your attention on keeping that income coming in and creating a cycle of cash flow. The biggest slowdown of a new Cash Machine is once you start making money you go into a continuous cycle to pay down debt. This will get you nowhere fast. In fact it will stop you in your tracks. In six months you’ll find yourself stuck with a Cash Machine that’s not profiting because your money went straight to your consumer debt.

Your seed money, i.e. the money you use to get your Cash Machine going, is business capitalization. This is an example of good debt. If you borrowed money to start your business, then you need to show profits. Pay the minimums on this good debt so you’re showing progress.

Don’t get me wrong you need to keep making your minimum payments on all you consumer debt but stay focused on the broader picture. In my Millionaire Maker’s Guide, you’ll find an equitable format for paying down debt while still investing in your future.

When you’re starting out, you need some life support so you can continue to create new cash in your life. That means you need a team, people who support your life to give you the time you need to make money. This is where your first money should go. Once you have that life support you need to focus your earned money on marketing, marketing, and marketing. That means if you need a website it’s time to invest your earned money. Once you have established your life support and marketing plans you’ll see more money coming in the door.

You want three to five layers of marketing so that you can start to put money away for your wealth account. Then you can start putting a little extra money toward your debt. You’re not pouring your money on that debt, you’re just making some headway. In this model you will pay off debt, it’s just going to take you a little longer.

The best advice I can give to those of you facing large amounts of debt is to create new money. Get your Cash Machine off the ground based on a successful model company. Do not focus so much on your credit cards and lines of credit, it’s not that you don’t care, you’re just making sure you have a plan that will create a steady flow of income. Your future is not based on the amount of debt you carry, it’s based on how much cash you can bring in to change it.

Ready GO!

Loral

Survive or Thrive?

These days it seems the message being sent to everyone is how to survive in this turbulent economy. If you are a true entrepreneur you are looking for ways to thrive.

It’s hard to escape the news of economic downturns; lay offs, and stock market fluctuations. It’s what you do with that information that will set you apart from the rest.

If you’re a person that allows this kind of information to affect your daily thinking and decision making, it’s time for you to turn off the TV and tune into your creative muscles. Get involved with people that will inspire you and not weigh you down. Start re-reading some of the books that got you thinking independently, like an entrepreneur. Go to a seminar or participate in a webinar. Get tuned into the solutions and stop focusing on the problems.

An economic downturn is not the end all be all, in fact all it means is things are changing. Solution based thinkers will find ways to create money in any economy. It’s time to be ahead of the game and not impacted by it.

If you’re in the a cycle of just surviving and hoping you can outlast the storm, you’re planning for failure. Things are different now my friend, so start thinking about how you can profit in any climate. You want to thrive not just survive. Am I right?

Sometimes you’ve got to do things differently. Start talking to people. Find out what people need because of the economy. What do you need?

If you are a true entrepreneur, you’re in the practice of brainstorming, meeting with your team, asking yourself, “What can we do differently?” It’s crucial that you stay ahead of the curve. You’ve got to be in touch with new ideas and concepts. Be alert to the chatter but don’t let it affect your drive to succeed. You are in the cycle of continuous learning and earning.

I know it’s easy to get caught up in the hype. You’ve got to be aware of your limits when it comes to consuming the messages the media throws at you, think for yourself.

Here are a few exercises to help get you on the right track…

Take inventory of your day. Write it out.

Have a brainstorming session. Include your team.

Hold daily meetings. Talk to each other get new ideas and address roadblocks and discuss how you’ll move past them.

Study the packaging of your products and or services. Look at different options.

Reconnect with entrepreneurs in your area. Inspire each other.

Write out all of your skills. Surely there are some new ones you can adjust for profit!

Truth is, you probably started out as new entrepreneurs doing all of these things and stopped doing most of them when you got busy with your Cash Machine. Get back in the habit! These are the exercises that got your brain thinking in the right direction in the first place and they will get you back on track. Get back to the basics!

Ready GO!

Loral

Because It’s The Smart Thing To Do

Rarely do I have time to sit back and watch TV but recently during some of my downtime I flipped on the tube and saw a commercial for a car manufacturer. As you know the vehicle manufacturing industry has been hit particularly hard because of the current economy, dealerships are closing, people losing their jobs, and hoping for government bailouts. You’d think with all the commotion you’d be seeing a lot less effort focused on marketing, but one company is standing out with a marketing campaign that’s using a strategy that involves the tough times families are facing. They are using the economy to their advantage.

These are the strategies you need to focus on especially if you’re in an industry that’s feeling the pinch of the current economy. You’ve got to zero in on the reasons why people need your product or services — and communicate clearly. Don’t put focus on why they can’t afford it or shouldn’t buy something. Redirect people with the reasons why now is the best time to be your customer.

This is a great time to re-evaluate every angle of your business and concentrate on new opportunities or even revisit practices that have worked in the past. Shift and adjust your marketing where necessary and track your results.

The very worst thing you can do is to get caught up in the “Woe is me…” syndrome, however, now more than ever you’ve got to shut out negative thinking. If you’re stuck in a cycle of negativity you won’t be open to new opportunities.

Successful entrepreneurs think of ways to use this economy as leverage. You should be asking yourself…

What can I do differently?

How can I repackage my products or services for a stronger value?

Who can benefit most from what I do?

What does my client base need because of the economy?

Do you see where I’m going with this?

Times like these call for outside of the box thinking. If things are slow for you this is not the time to cut your marketing budgets down, on the contrary you’ve got to beef up your strategy and get out there and make it happen.

If money is tight it’s time to think old school think person to person marketing, networking, and good old fashioned pounding the pavement. If you want to succeed sometimes you not only have to work harder than the next guy you’ve got to work smarter.

If you keep your eyes and minds open you will start to see the opportunities around you. If you find yourself fresh out of ideas become involved with your community. Find out what is working for your colleagues. Stay on track by researching your competitors.

Be in a cycle of continuous learning.

Ready Go.

Loral

Be A Copy Cat!

For those of you in the beginning stages of creating a Cash Machine some of the best advice I can give you is to do your research and find a business model. Someone out there is doing the same thing or, at least, darn close. Doesn’t it make sense to learn how others are doing what you want to do?

When I teach people about modeling after a similar business we’re not just looking at the surface, we’re really digging in. What is their marketing system? How are they reaching out to their customers? What has worked for them? What hasn’t?

We also want to take a good hard look at general operations. What are their procedures for hiring? How small did they start? What was their rate of growth? What are the administration practices?

Do you see where I am going here?

Modeling your Cash Machine after a successful existing entity is smart business. Now I am by no means saying to completely rip off an idea or practice, but I am saying find out what works so you don’t make avoidable mistakes. When you look at a business plan process, the guessing is eliminated when you follow a model company.

Being unique with your Cash Machine is great but make sure you’re not so out there as to lose your audience. The idea here is to create wealth. It may not be the most exciting product or service in existence but if gets you in a cycle of wealth. You can start to take bigger risks later.

In addition, you want to be looking at how things are packaged. How does your model company offer its goods and services? Packaging is a huge part of creating a successful Cash Machine business. Even if your product or service is basic it’s imperative that you offer your customer some choices.

There’s an example I’ve used in my live Cash Machine Workshops for a window washing service. Window washing is pretty straight forward. Generally the pricing varies by the amount and size of the windows and most people would think that would be it — BUT there’s so much more you can be packaging along with this service. What if said window washer offered “green” cleaning products to the client? Or even in between window wipes for the customer? Seasonal window painting? That sure would bring in some extra cash! Offering discounted annual contracts would guarantee steady work. The ideas are endless once you get on the right track.

Creating a Cash Machine is not brain surgery folks. Don’t make it harder than it has to be. There’s hardly nothing new under the sun these days so find out who’s doing it right and also who has done it wrong. Learn from businesses doing what you want to do and don’t be shy talk to your competitors/future colleagues about their ups and downs.

Be creative and innovative but avoid trying to be too out there or unique. Once you’ve got your Cash Machine up and running and creating a profit you can be free to try new things. Follow what works and avoid practices that don’t.

Ready GO!

Loral Langemeier

Still on the money diet?

With all that is going on with the economy lately it seems all the chatter is centered on pinching pennies, going without, and stretching the dollar. I’ve been asked a lot lately about good ways to budget. If you follow my methods you already know that I don’t believe in budgets. They just don’t work.

I believe budgets are like people who go on “yo-yo diets” to lose weight. Yo-yo dieting starts out great but soon you’re at the end of your string. Same goes for money diets, they just don’t work.

If you’re not wealth healthy it’s time to go to the core of your money habits, learn the purpose of money, exercise your money muscles, and commit to a lifestyle where you control your money, not the other way around.

Let’s break this down…

What are your money habits?

How do you communicate with your money? Are you an impulsive spender? Is money a negative thought? Or is money something you fear?

Start to understand how you communicate with your money. If money is a scary thought you have to change your thinking. If you overspend you need to find out why. People often say things like; “Money is root of all evil”… the quote is actually “the love (or lust) of money is the root of all evil”. If you are thinking negatively about money, chances are your bank account reflects that same negativity.

Learn the purpose of money.

Once you’ve begun to think about your conversation with money it’s time to understand it’s purpose, how much do you need to sustain a wealth healthy lifestyle??

Exercise Your Money!

If you are thinking clearly about money you want to build up those Money Muscles! If you’ve got a problem with spending you need to be in resistance training. Once you get the hang of it you’re building your wealth muscles. When you’re paying down your debt and practicing healthy spending, doing what it takes to earn more money, and investing, your wealth muscles are very strong and will get even stronger. Keep building your wealth.

There’s good debt and bad debt. Do you know the difference? There’s ways to make more money… everyone has a marketable skill. Have you thought about that? What can you do today to make more money? Be in the cycle of continuous learning.

Stay connected with others on your same path. Create a network! Keep each other in line and focused.

Commit to the wealth healthy lifestyle.

Stay strong in wealth training. Be on the path to learning, generating, and creating healthy money habits and also understand your limits and or triggers for spending. Money is not supposed to run your life, it’s meant to accommodate and enrich your lifestyle. Commit to that thinking and you will be wealth healthy for life!

Loral

Summer, Cash and Kids

It’s great to see summer finally approaching. This is a great time of year to do take personal and professional inventories to make sure you’re still on the right track. If you’ve veered off the path, now is the time to make adjustments.

The summer brings new opportunities and for many this is a good time to see things in a brighter light. Center yourself and make sure you’re open to all new opportunities.

If you have kids you know summer time means school’s out! Summer break presents an excellent opportunity to teach kids wealth building skills. Why not take this summer to show your children how to create their own cash?

Teaching your children the value of money is one of the most important lessons they will learn from you. If they learn at a young age to generate and create their own cash, think of how much further they can go! I truly believe people from all walks of life, both young and old, possess the ability to leverage their assets, skills, and talents into a Cash Machine. And kids come up with some of the best ideas!

When talking with your kids about starting a Cash Machine the best advice is to make it real. If you’ve been in the process of building a Cash Machine of your own share with them your experience and show them what you did and how you did it. Sit them down and help them list all of their skills and talents. This is a great activity to share with your child on many levels. Tell them how their skills and talents translate in the world of money. Remind your kids that a Cash Machine might not be the job they adore, show them how a little hard work can earn them cold hard cash. Mowing lawns might not be glamorous but can certainly put money in their pocket.

When going through the discovery of your child’s skills and talents, start thinking of age appropriate wealth building activities. Kids as young as 5 or 6 can start learning these skills by earning an allowance at home, older kids can do work for close friends and family, and teens can even start their own businesses online or throughout the community. Please remember to monitor all of their movements and stay involved in the process.

Even before they begin earning money sit down and have a conversation about how to handle money. Have them start learning to divide their earnings into separate accounts. Kids need to learn about saving and spending. Teach them the differences between incomes, expenditures, profit and loss. If they don’t learn this from you, it’s likely that by the time they do, it will be too late. Have them set up a bank account even if you’re the bank of Mom or Dad. Again make it real.

Kids raised by entrepreneurial families have a unique opportunity to create many cycles of wealth building. Encourage your kids to earn and learn.

Ready GO!

Loral

You’ve Got to Want it More

For people starting out in wealth building there are many different challenges to be faced. Some think of these challenges as obstacles and those obstacles become excuses for not moving forward. In today’s economy if you’re going to make it you’ve got to want it more than the next guy. Traditional forms of wealth building no longer apply.

Excuses are the brain’s way of sending false messages when something seems too hard. Yes getting started with a Cash Machine business will be hard work but think of the alternative. Do you want to depend on “the man” to take care of you for the rest of your life? Do you want the banks and lenders in control of your finances? Or do you want to be the creator of your own destiny?

People from all walks of life are taking the plunge into entrepreneurialism and for good reason. It’s sink or swim time my friend.

Whatever might be holding you back must be re-examined, addressed and overcome, or you just might be one of those that sink.

So what’s holding you back? The top 5 Excuses

Excuse # 1 “I don’t have the money…”

Give me a break! There’s money all around you. Ok you might be living paycheck to paycheck right now but there’s always something you can do to raise capitol. Who says you have to start your Cash Machine running out of the gates. You might need to pick up some odd jobs or sell off some assets to get your business going. DO WHAT YOU HAVE TO! Want it more. There’s always a way.

Excuse #2 “My spouse will think I’m crazy!”

Individuals and families are often held back by what others might think. Peer and family approval are great but not at all necessary. It’s nice to keep your close family and friends in the loop but ultimately you and only you are the creator of your destiny. Your future rides on your tenacity and courage in times like ours. Think of what you can offer in inspiration alone. Who knows? Your success just might inspire your loved ones to create their own Cash Machine.

Excuse #3 “With my day job I just don’t have the time”

Make time. Period. Much of the initial work in starting a Cash Machine is research, which can be done in your spare time. Once you have a plan in place, it’s time to take a risk. Just go for it. Don’t be afraid to ask for a shorter work week. You’re not likely to get much resistance especially if business is slow. If there’s a will, there is a way.

Excuse #4 “I don’t know what to do”

Everyone has marketable skills and talents. EVERYONE. This is not the time to be hard on yourself. Remember that a Cash Machine normally isn’t your dream job. It’s a business designed to create cash flow fast. Leverage your skills and talents. It’s not rocket science.

Excuse #5 “The economy is too crazy, it’s just bad timing”

I can’t say it enough… economic downturns produce more Millionaires than any other time periods. Xerox, Microsoft, and Disney all started during notable economic crisis. Now, if you were considering a business that has been hit hard in the last few years obviously you’ll need to rethink your strategy. BUT if you’re truly an entrepreneur, you’re thinking of things you can do to offer solutions for companies that are experiencing hard times. It’s now or never.

You’re going to face challenges and opposition with whatever it is you decide to do. Ask yourself how bad you want it and what the consequences will be if you don’t create new money in your life.

Ready GO!

Loral

P.S. Got something to say?

What's the #1 Obstacle Holding You Back from Ultimate Wealth?