I wanted to post for you a recent testimony that I received from one of my clients who purchased the Platinum package.
"We are renting a mid-size vehicle (unlimited mileage) for 1 week inPhoenix, AZ in August and the original price for the car rental (beforediscount) was $304.21. I used my Coastal car rental card and now we'reonly paying $230.95 for the same car. That's a savings of $73.26. Once Iget a receipt from the Alamo I will send you a copy."
Jen, PA
You can see other testimonials and receipts at http://www.buildcoastalwealth.com/proof.html
Tuesday, June 27, 2006
Monday, June 26, 2006
Massive Update
Business...
Last weekend, we had a great weekend at First Steps to Success with Dani Johnson. Bob, Ed, and Karen all have some life changing experiences. I am excited to see their growth in their business and in their personal lives. Congratulations to Karen Uyttenhove who has just recently purchased her Platinum package. She says that she is looking to take advantage of all of her travel discounts especially the cruises and the international condo stays.
Personal...
Last week after returning from First Steps, I restarted my advertising on Wednesday then that evening at about 6 pm I got a call from my Mom who told me that my Nannie had her second stroke in about a 3 week period and that she wasn't doing very well. Also Donnie's dad had his second heart attack in a 3 week period. Mama was very emotional on the phone so I felt that I just had to be home, I immediately went and told Carmen that I had to leave and go home to North Carolina and she agreed. By 9:30 pm I was driving the 14 hour trek to my Mom's house. I spent the weekend there and left Sunday at about noon and drove home. I got in at 5 am this morning and slept till about 2 pm. I will now have to get back to work I have plenty of old leads that I need to catch up with.
Book writing...
I have started my research in the past few weeks on the personal finance book that I mentioned in my last post. I hope to have my research complete and to be well on my way to writing this book by Christmas of this year. I am also trying to learn what I can about marketing, I suspect this will be put out in ebook format. I have joined an educational website that focuses building a list. I have been impressed with the amount of information that is available for such a small cost. For $9.95 a month List and Traffic seems to be the best buy if you are looking to learn how to build an email list that you can market your products and services to over and over again.
Last weekend, we had a great weekend at First Steps to Success with Dani Johnson. Bob, Ed, and Karen all have some life changing experiences. I am excited to see their growth in their business and in their personal lives. Congratulations to Karen Uyttenhove who has just recently purchased her Platinum package. She says that she is looking to take advantage of all of her travel discounts especially the cruises and the international condo stays.
Personal...
Last week after returning from First Steps, I restarted my advertising on Wednesday then that evening at about 6 pm I got a call from my Mom who told me that my Nannie had her second stroke in about a 3 week period and that she wasn't doing very well. Also Donnie's dad had his second heart attack in a 3 week period. Mama was very emotional on the phone so I felt that I just had to be home, I immediately went and told Carmen that I had to leave and go home to North Carolina and she agreed. By 9:30 pm I was driving the 14 hour trek to my Mom's house. I spent the weekend there and left Sunday at about noon and drove home. I got in at 5 am this morning and slept till about 2 pm. I will now have to get back to work I have plenty of old leads that I need to catch up with.
Book writing...
I have started my research in the past few weeks on the personal finance book that I mentioned in my last post. I hope to have my research complete and to be well on my way to writing this book by Christmas of this year. I am also trying to learn what I can about marketing, I suspect this will be put out in ebook format. I have joined an educational website that focuses building a list. I have been impressed with the amount of information that is available for such a small cost. For $9.95 a month List and Traffic seems to be the best buy if you are looking to learn how to build an email list that you can market your products and services to over and over again.
Tuesday, June 13, 2006
Out by the fire...
I am blogging tonight in the backyard sitting by a fire that Carmen, Melissa, and I just got done cooking some Johnsonville brats with. The fire is great, there is a cool breeze blowing and the crackling of the fire is definitely relaxing. I am currently just doing some reflecting. I don't have any more advertising coming in as I just finished up with one cycle. We are getting ready to go to Virgina Beach for another Dani Johnson First Steps to Success seminar and we are driving down this time. I think I will spend the rest of the week just wrapping up loose ends and getting packed and ready for another life changing weekend.
I definitely have several clients who are getting started this month. One being Carmen's mom who has decided that she is tired of working two jobs and is ready to take control of her life by starting her own Coastal business. Carmen's parents are going with us to First Steps to Success which is one of the big reasons why we are driving down. Really there were only two stipulations that I would have placed on Carmen's mom before accepting her as a client, the first being that she come in at a higher level than Level 1 in her business, and the other being that she made plans to attend First Steps to Success. Those are the two things that will help insure a new clients' success more than anything else, other than their own determination. Thankfully, I never had to voice this two conditions to Karen, (Carmen's Mom) she immediately decided to come in at the Platinum level (Level III) and saw the benefit of getting plugged into First Steps to Success right away.
Change of subject, I am really tossing around the idea of writing a Personal Finance book. I will most likely write this as an ebook and will probably give it away or at least sell it really cheap. Ultimately I would like to start some sort of premium investing advisor service but this would be a start. I really want to take on a personal mission of financial education which starts with personal responsibility to learn about financial education. If I give the book away or at least sell it at a very reasonable price then I will remove one more excuse for people to learn. Investing is an advanced concept to basic Personal Finance, people have to understand how to properly manage their money before they can consider making investment decisions. I have been inspired by my business coach Dani to help others learn about managing money. I believe by writing a very easy to read and very easy to understand book will be a great start. I also have been considering this more and more as I watch more people earn larger incomes with their home based business. Earning more money does not get you out of debt or help you reach your financial goals. Learning to manage the money you have will help you achieve that. I also have a fear of helping clients earn more money than they ever have, and instead of empowering them to great heights, I simply give them a way to get into greater debts. It would be a shame to have a profitable Coastal Vacations business only to take on more personal debt and that is what I want to try to avoid. Once again one way for me to do this will be to provide a simple educational tool that all of my Coastal clients, team members, or anyone else for that matter, can read and apply to their own lives.
That's it for now... I'll keep you posted.
I definitely have several clients who are getting started this month. One being Carmen's mom who has decided that she is tired of working two jobs and is ready to take control of her life by starting her own Coastal business. Carmen's parents are going with us to First Steps to Success which is one of the big reasons why we are driving down. Really there were only two stipulations that I would have placed on Carmen's mom before accepting her as a client, the first being that she come in at a higher level than Level 1 in her business, and the other being that she made plans to attend First Steps to Success. Those are the two things that will help insure a new clients' success more than anything else, other than their own determination. Thankfully, I never had to voice this two conditions to Karen, (Carmen's Mom) she immediately decided to come in at the Platinum level (Level III) and saw the benefit of getting plugged into First Steps to Success right away.
Change of subject, I am really tossing around the idea of writing a Personal Finance book. I will most likely write this as an ebook and will probably give it away or at least sell it really cheap. Ultimately I would like to start some sort of premium investing advisor service but this would be a start. I really want to take on a personal mission of financial education which starts with personal responsibility to learn about financial education. If I give the book away or at least sell it at a very reasonable price then I will remove one more excuse for people to learn. Investing is an advanced concept to basic Personal Finance, people have to understand how to properly manage their money before they can consider making investment decisions. I have been inspired by my business coach Dani to help others learn about managing money. I believe by writing a very easy to read and very easy to understand book will be a great start. I also have been considering this more and more as I watch more people earn larger incomes with their home based business. Earning more money does not get you out of debt or help you reach your financial goals. Learning to manage the money you have will help you achieve that. I also have a fear of helping clients earn more money than they ever have, and instead of empowering them to great heights, I simply give them a way to get into greater debts. It would be a shame to have a profitable Coastal Vacations business only to take on more personal debt and that is what I want to try to avoid. Once again one way for me to do this will be to provide a simple educational tool that all of my Coastal clients, team members, or anyone else for that matter, can read and apply to their own lives.
That's it for now... I'll keep you posted.
Monday, June 12, 2006
I have started my Poker career!
Every time I go to the casino I tell Carmen, "Baby, today is going to be the start of my Poker career". I have an inner desire to earn a part time income playing Poker. However, typically when I say that Carmen just laughs but, this weekend I came back with a profit of $277.00. I had to put $70 into our casino fund which left me with about $200. I went back to the casino on Sunday afternoon and lost $100 so so far my casino career has lasted about 3 days and I have $100 profit!
I think I am on to something... lol
I think I am on to something... lol
Saturday, June 10, 2006
I love this life
I thank God, for blessing me in such a phenomenal way. Everything just seems to be taking such good shape. Within my organization I am seeing such growth personally and professionally it is really humbling to witness this in others. Just a couple of days ago I was on a live question and answer call with one of my guest and I had 3 different associates on the same call with guest. This happened not once but twice in the same day! Way to go guys!
Don't get me wrong it is a lot of fun to make money and it blows me away to see where this business has taken me to this point at such a young age. Sure I have a long ways to go but, at the same time I have come along way. Now to see many of the associates that I am honored to call teammates also working to successfully build their own businesses is just breathtaking. It is a complete honor and privledge to know that in some way I have played a small part in that.
I personally need to improve my time management in my own business and I will strive to improve on that in the coming week.
Don't get me wrong it is a lot of fun to make money and it blows me away to see where this business has taken me to this point at such a young age. Sure I have a long ways to go but, at the same time I have come along way. Now to see many of the associates that I am honored to call teammates also working to successfully build their own businesses is just breathtaking. It is a complete honor and privledge to know that in some way I have played a small part in that.
I personally need to improve my time management in my own business and I will strive to improve on that in the coming week.
Monday, June 05, 2006
Summer Contest!!
Summer is a time of fun and games, I wanted our organization to get in on that. For the summer through the end of August the following cash and prizes are up for grabs.
$500 Momentum Bonus
To the person who makes their Platinum training sales the closest together. In other words one behind the other.
$250 Cash Bonus
To the person who takes the most people or team members to a Dani Johnson event or the CWB training event in Minn. Must take a minimum of 3 to qualify and the spouse may count as 1.
$250 Cash Bonus
To the person who makes the most qualified 3 ways with me. A qualified 3 way is made after someone attends the Q and A call. Must make a minimum of 5 to qualify for the bonus and the spouse does not count as 1. ( lol )
$500 Momentum Bonus
To the person who makes their Platinum training sales the closest together. In other words one behind the other.
$250 Cash Bonus
To the person who takes the most people or team members to a Dani Johnson event or the CWB training event in Minn. Must take a minimum of 3 to qualify and the spouse may count as 1.
$250 Cash Bonus
To the person who makes the most qualified 3 ways with me. A qualified 3 way is made after someone attends the Q and A call. Must make a minimum of 5 to qualify for the bonus and the spouse does not count as 1. ( lol )
Thursday, June 01, 2006
Month in Review
The month of May continued to fall short of my goal of $30,000. May was wrapped up with a total of $19,905. That was the profit after the wholesale amount of the travel packages was subtracted from my gross total. That brings me to a total of $63,610 after cost of goods for the year. That means I have $186,390 to go in order to reach my annual goal of $250,000 after cost of goods.
This month Ed from Florida started his Coastal business at the Platinum level. Ed, owned his own construction business but was tired and wanted to do something different for a change. Originally wanting to get started at the Premiere level, Ed shared with his wife the Coastal business model who gave her blessing for him to come in at the Platinum level. Ed has a calculated seriousness about him that will serve him well in this business. I fully expect to see him attend a First Steps to Success with Dani Johnson very soon because we will quickly realize the quickest way to success is to increase your skill. I have no doubt he will work his business diligently and consistently and that will lead to success!
Earl from Texas also started his Coastal business at the Premiere level. Earl, works at Home Depot and is determined to get out of there. He has made it clear that he understands the importance of continued education in yourself and your business, that along with his clear expectations of himself will lead him to accomplish his goals.
As previously mentioned Bob from Washington upgraded this month from the Premiere level to the Platinum level. Bob, has clear focus and truly cares about his clients. Bob works with a spirit of diligence and persistence that is what lead to his release at Level II and with out a doubt that will lead to him being a released director at Level III as well.
Creating a Dynasty took place this past weekend. We had 4 team members there including myself. Jamie from Arkansas, Jen from Pennsylvania, and Stacie from North Dakota. These ladies are with out question emerging into leadership roles on this team. They have made it a priority to invest in themselves and their business by attending a seminar with industry wide leaders who are striving to grow their skills. I truly saw these amazing women change before my eyes this weekend.
I am blessed to call myself a part of a team of such amazing people. Individuals who will stop at nothing to improve the lives of themselves and their families. People who take a step forward to start a home business but then take another step to succeed with it. God bless us all so that we may continue to bless others!
This month Ed from Florida started his Coastal business at the Platinum level. Ed, owned his own construction business but was tired and wanted to do something different for a change. Originally wanting to get started at the Premiere level, Ed shared with his wife the Coastal business model who gave her blessing for him to come in at the Platinum level. Ed has a calculated seriousness about him that will serve him well in this business. I fully expect to see him attend a First Steps to Success with Dani Johnson very soon because we will quickly realize the quickest way to success is to increase your skill. I have no doubt he will work his business diligently and consistently and that will lead to success!
Earl from Texas also started his Coastal business at the Premiere level. Earl, works at Home Depot and is determined to get out of there. He has made it clear that he understands the importance of continued education in yourself and your business, that along with his clear expectations of himself will lead him to accomplish his goals.
As previously mentioned Bob from Washington upgraded this month from the Premiere level to the Platinum level. Bob, has clear focus and truly cares about his clients. Bob works with a spirit of diligence and persistence that is what lead to his release at Level II and with out a doubt that will lead to him being a released director at Level III as well.
Creating a Dynasty took place this past weekend. We had 4 team members there including myself. Jamie from Arkansas, Jen from Pennsylvania, and Stacie from North Dakota. These ladies are with out question emerging into leadership roles on this team. They have made it a priority to invest in themselves and their business by attending a seminar with industry wide leaders who are striving to grow their skills. I truly saw these amazing women change before my eyes this weekend.
I am blessed to call myself a part of a team of such amazing people. Individuals who will stop at nothing to improve the lives of themselves and their families. People who take a step forward to start a home business but then take another step to succeed with it. God bless us all so that we may continue to bless others!
Currently Uninsured
What a bunch of BS. When moving I contacted Blue Cross Blue Shield of North Carolina which I had some fantastic health coverage with. Basically I had an 80/20 plan with a $250 deductible, my premium was only $120 a month. Prior to moving to Michigan, I contacted BCBS of NC and they were suppose to send some paperwork to BCBS of MI for a transfer of healthplan. The purpose is that I would maintain health coverage, although at a higher rate in Michigan, without interruption during my move.
A couple of months of moving to Michigan I still had not heard from BCBS of MI so I called them and they had yet to receive the paper work from North Carolina. When I called North Carolina they said to give BCBS of MI a little more time. The next thing I know is I get a letter from BCBS of NC stating that my health coverage has ended. I call both entities back and this is the story, BCBS of NC sent the paperwork and has no idea why BCBS of MI does not have it. BCBS of MI confirms they have no paper work on me but proceeds to tell me that they would have gave me their worst medical plan anyway since it was from a transfer and I would be better off to just reapply. Well that is lovely, they could have told me that a couple of months ago so I would have been uninsured at this time.
Everything happens for a reason and my brother Stacy has been learning about and seeking a Health Savings Account since he has left the Air Force. Now, I am looking for a good Health Savings Account as well. Health Savings accounts are amazing. To sum it up, with a HSA you can save money on premiums by paying a lower premium and by spending less money on health coverage. Also you can set money aside just like in an IRA that is 100% tax deductible and grows with interest tax free as well. You are able to use this tax free money to cover any medical expense that would not go toward your deductible such as vitamins, alternative medicine, and soon this may even include gym memberships. Stay tuned as I will discuss this further in later posts.
A couple of months of moving to Michigan I still had not heard from BCBS of MI so I called them and they had yet to receive the paper work from North Carolina. When I called North Carolina they said to give BCBS of MI a little more time. The next thing I know is I get a letter from BCBS of NC stating that my health coverage has ended. I call both entities back and this is the story, BCBS of NC sent the paperwork and has no idea why BCBS of MI does not have it. BCBS of MI confirms they have no paper work on me but proceeds to tell me that they would have gave me their worst medical plan anyway since it was from a transfer and I would be better off to just reapply. Well that is lovely, they could have told me that a couple of months ago so I would have been uninsured at this time.
Everything happens for a reason and my brother Stacy has been learning about and seeking a Health Savings Account since he has left the Air Force. Now, I am looking for a good Health Savings Account as well. Health Savings accounts are amazing. To sum it up, with a HSA you can save money on premiums by paying a lower premium and by spending less money on health coverage. Also you can set money aside just like in an IRA that is 100% tax deductible and grows with interest tax free as well. You are able to use this tax free money to cover any medical expense that would not go toward your deductible such as vitamins, alternative medicine, and soon this may even include gym memberships. Stay tuned as I will discuss this further in later posts.
Tuesday, May 23, 2006
New Arrival in the Family
Sorry for not posting this yesterday but, I was in bed not feeling too well. I am doing much better today. I received a phone call from my Mom and then my brother letting me know that my new nephew Edgar Michael was born happy and healthy. All 8lbs. 9oz and 21 inches came into this world yesterday morning. I feel incredibly excited knowing that I played a small part in allowing my brother to be there at the birth of their second child. Stacy didn't have to worry about asking time off from a boss, or finding anyone to fill in for him. He just quite simply took off and went to the hospital when it was time.
He had that freedom because he owns his own homebased business.
He had that freedom because he owns his own homebased business.
Saturday, May 20, 2006
My Poker Income
"Whoever is happy will make others happy too. He who has courage and faith will never perish in misery." -Anne Frank
Ok so the title is a little misleading. I don't really have a poker income but I do have a goal of creating a fun part time income out of my poker play. I started with about $100 at my favorite online casino. I got down to about $13 and decided I needed to be serious about this game. So I moved from the $1/$2 limit table to a $.10/$.20 limit table. Since then I have been doing much better. Now I have been playing poker online for about 3 years often just losing money. I have been reading some books on poker trying to learn the best strategy for the game just like I have with most casino games that I play. However, poker is a lot different there is not set way to play poker all the time. You are not just playing against the math, you opponent is one who is logical and capable of changing his play just as you are. The good news is since you are not just playing against the mathematical calculation that says in the long run you always lose, you can be a long term winner in the game of poker.
All in all I see poker as a fun hobby that can be profitable at the same time. I don't expect to win the World Poker Tour or nothing but I look to win money playing poker in my spare time and around my business. I will continue to play at the $.10/$.20 level until my bankroll reaches $150 then I will move up to the $.25/$.50 limit tables. Everything I read says that you should have a bankroll that is 300 times larger than the BB at the table. BB standing for Big Bet so $150 would be 300 times the Big Bet at a $.25/$.50 table. Currently my bankroll is at $43.00 but I will keep you posted on my poker exploits.
Ok so the title is a little misleading. I don't really have a poker income but I do have a goal of creating a fun part time income out of my poker play. I started with about $100 at my favorite online casino. I got down to about $13 and decided I needed to be serious about this game. So I moved from the $1/$2 limit table to a $.10/$.20 limit table. Since then I have been doing much better. Now I have been playing poker online for about 3 years often just losing money. I have been reading some books on poker trying to learn the best strategy for the game just like I have with most casino games that I play. However, poker is a lot different there is not set way to play poker all the time. You are not just playing against the math, you opponent is one who is logical and capable of changing his play just as you are. The good news is since you are not just playing against the mathematical calculation that says in the long run you always lose, you can be a long term winner in the game of poker.
All in all I see poker as a fun hobby that can be profitable at the same time. I don't expect to win the World Poker Tour or nothing but I look to win money playing poker in my spare time and around my business. I will continue to play at the $.10/$.20 level until my bankroll reaches $150 then I will move up to the $.25/$.50 limit tables. Everything I read says that you should have a bankroll that is 300 times larger than the BB at the table. BB standing for Big Bet so $150 would be 300 times the Big Bet at a $.25/$.50 table. Currently my bankroll is at $43.00 but I will keep you posted on my poker exploits.
Friday, May 19, 2006
Are you willing to persevere?
"If at first you don't succeed, you're running about average." M.H. Alderson
A friend of mine Shawn Scheppele, recently shared this with me. I wanted to post this here on my blog because I feel that anyone can apply the principles demonstrated here to reach success in their lives. Thanks Shawn, I found great encouragement in this and I am sure others will too.
He Failed in Business in '31.
He was Defeated for State Legislator in '32
He tried another business in '33. It Failed.
His Fiancée died in '35
He had a nervous breakdown in '36
In '43 he ran for Congress and was defeated.
He tried again in '48 and was defeated again.
He tried running for the senate in '55. He Lost.
The next year he ran for Vice President and Lost.
In '59 he ran for the senate again and was defeated.
In 1860, the man who signed his name A. Lincoln,
Was elected the 16th President of the United States.
The difference between history's boldest accomplishments,
And its most staggering failures is often, simply,
The diligent will to persevere.
My question for you is are you willing to persevere for your goals? Or are you too afraid of failure to ever succeed?
A friend of mine Shawn Scheppele, recently shared this with me. I wanted to post this here on my blog because I feel that anyone can apply the principles demonstrated here to reach success in their lives. Thanks Shawn, I found great encouragement in this and I am sure others will too.
He Failed in Business in '31.
He was Defeated for State Legislator in '32
He tried another business in '33. It Failed.
His Fiancée died in '35
He had a nervous breakdown in '36
In '43 he ran for Congress and was defeated.
He tried again in '48 and was defeated again.
He tried running for the senate in '55. He Lost.
The next year he ran for Vice President and Lost.
In '59 he ran for the senate again and was defeated.
In 1860, the man who signed his name A. Lincoln,
Was elected the 16th President of the United States.
The difference between history's boldest accomplishments,
And its most staggering failures is often, simply,
The diligent will to persevere.
My question for you is are you willing to persevere for your goals? Or are you too afraid of failure to ever succeed?
Tuesday, May 16, 2006
Donation made to www.city-ministries.com
"Will a man rob God? Yet you rob Me. But you ask, 'How do we rob You?' In tithes and offerings Bring the whole tithe into the storehouse, that there may be food in My house. Test Me in this, says the Lord Almighty, and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it." -- Malachi 3:8-10 NIV
Several weeks ago the Lord laid it on my heart to tithe to an organization called City Ministries. This organization was started by a minister named Bob Johnson and his family. This is a ministry which goes out to the streets reaching the homeless and even prostitutes by giving away hot meals, offering prayer, and having Sunday School and worship services in the streets and of course making that available to the homeless. Many churches and organizations talk about helping the homeless and less fortunate, this is one ministry that literally goes down to the street level and does just that.
Some Christiansins have a real problem making money or being prosperous I will never understand that. If Christiansins we believe God will bless us, why do we often have trouble understanding that God can and will bless us financially? Christiansins, if we prosper financially then at the very least we will tithe to God's work. If non-believers earn money, many of them will spend money on things that will not benefit the kingdom of God. It obviously goes to reason who would God rather see prosper over his people?
Several weeks ago the Lord laid it on my heart to tithe to an organization called City Ministries. This organization was started by a minister named Bob Johnson and his family. This is a ministry which goes out to the streets reaching the homeless and even prostitutes by giving away hot meals, offering prayer, and having Sunday School and worship services in the streets and of course making that available to the homeless. Many churches and organizations talk about helping the homeless and less fortunate, this is one ministry that literally goes down to the street level and does just that.
Some Christiansins have a real problem making money or being prosperous I will never understand that. If Christiansins we believe God will bless us, why do we often have trouble understanding that God can and will bless us financially? Christiansins, if we prosper financially then at the very least we will tithe to God's work. If non-believers earn money, many of them will spend money on things that will not benefit the kingdom of God. It obviously goes to reason who would God rather see prosper over his people?
Sunday, May 14, 2006
Business, Investing, Gambling, and Their Risk
"Warriors take chances. Like everyone else, they fear failing, but they refuse to let fear control them." Ancient Samurai saying
Three really strong interest that I have are Business, Gambling, and Investing. Three unique playing fields but they all have the same goal, to increase income. Business, is the most controllable followed by Investing and then Gambling. I find it interesting how many people use these three words interchangeably. Most people will always tell you that starting a business is a gamble thus you are gambling. Investing is risky therefore you are gambling there too. What a joke! Sure there is a level of chance that occurs in investing and business however, both can be won or earn a positive income consistently over time therefore it is not a gamble. In the following paragraphs I set the record straight regarding risk when it comes to business, investing, and gambling.
Business requires skill and building a business can be an art. As with walking across the street business can be associated with risk however, that risk is extremely controllable and can be minimized by knowledge and skill. Obviously, walking across an urban highway can be very risky and that risk can be minimal if walking across a highway in a rural town. Just like we can decide what risk we take on by deciding what type of road we want to cross on foot, we can also control risk in business by deciding what business we want to take on and in what industry. We can minimize risk and increase success by increasing our skill in building businesses. Some people with an employee mentality will feel that they have minimized their risk my not starting a business and instead they will get a job.
In actuality all they have done is put the risk in someone else's hands. They leave the risk of the business they work for in the hands of the business owner they are working for. However, they also leave the risk of their primary earned income in someone else's hands also. In this situation the employee risks losing their job, due to downsizing, bankruptcy, or any other negative consequence that could occur in business. To the employee who has a family, average household debt, other financial obligations and dependents the consequences of losing a job can be catastrophic. I find it more risky to leave my financial future in the hands of someone else versus taking control of it by starting and building my own business. Therefore, I strive to be a successful business owner and not an employee.
Investing once again does involve risk but, that risk can be minimized and sometimes eliminated by understanding your investments. Since you are normally investing in a business of another person there is still some risk associated with your investments because they are less controllable. In other words you are investing in someone else's skill of running a business and not your own. Actually this type of risk is in some ways is similar to the risk taken on by an employee. Investing can be less risky than employment for several reasons. First, if you have done your research then you have a solid understanding of your investments, the business model they are based on, and the future before them. These are all things that most employees do not research before taking on a job with a company. Also most people don't earn their primary income from one investment but the vast majority of employees do earn their primary income from their job. Investors can actually take on less risk than most employees by understanding the businesses behind their investments.
Gambling is sheer luck and therefore is the riskiest of all of my interest according to most people. However, I submit to you that even this is not completely correct. Now I will agree that gambling is definitely the riskiest but it is not all sheer luck. Gambling is a game of mathematics and understanding the mathematics behind your gambling game of choice will help you to succeed more often or at least make your bankroll last as long as possible. With the exception of Poker there are no legit professional gamblers that last very long as professionals. Poker is different because it is not a game of sheer mathematics and chance; a very large element in poker is the skill of the other players at your table. Most people are truly ignorant when it comes to gambling I often go to the casino watching people gleefully play games with a tremendous amount of odds against them and they have no idea. Just a quick about two casino controlled games that can most often be beat in the short term are Blackjack, as long as you are using basic strategy and yes there is a strategy to that game. If you playing that game just trying to get close to 21 you will lose and usually lose fast. The other game is Craps, this game has some of the best and worst bets in the casino all on one table. As long as you know what are the good bets versus the bad bets you can sometimes play for a very long time on a Craps table with a minimal bankroll. What makes gambling so enjoyable is not the risk that is associated with it but the instant gratification that is experienced when winning.
That was just a little bit about my favorite interest of Business, Investing, and Gambling and the risk associated with each. Risk can often be controlled or minimized this is most evident in business and less so with investing. Gambling is most often the riskiest but does offer the quickest gratification at times. Risk can be minimized with gambling as long as your understand the mathematics behind the casino games or you increase your skill compared to others at the Poker table. Hopefully this article help to put the concept of risk in a more proper perspective when associated with starting or building a business, choosing an investment, or walking into the casino.
Thursday, May 11, 2006
Congratulations to Bob Becker
"The first requisite of success is the ability to apply your physical and mental energies to one problem without growing weary." –– Thomas Edison
Bob in Washington was a Level II Director and recently decided to step and to Level III. I have a long history working with Bob and I am eager to watch his business grow. He is determined and he understand peoples and how to work with people. Bob has a strong desire see people change their lives. By stepping up to Level III Bob is setting himself up to triple his current profits. Currently Bob can profit from a Premiere membership sale giving him a profit of $3,200 once he is released as a Level III Director he will be able to profit from a Platinum membership sale giving him a profit of $9,705. Not only will he be increasing his profits but he will also be setting himself up to help more people. Those who are the most serious about starting their business often get started at the Platinum level, once he completes his qualification requirements Bob will be able to help some of the most determined people in this industry succeed. I am behind you all the way Bob and I wish you the best.
Bob in Washington was a Level II Director and recently decided to step and to Level III. I have a long history working with Bob and I am eager to watch his business grow. He is determined and he understand peoples and how to work with people. Bob has a strong desire see people change their lives. By stepping up to Level III Bob is setting himself up to triple his current profits. Currently Bob can profit from a Premiere membership sale giving him a profit of $3,200 once he is released as a Level III Director he will be able to profit from a Platinum membership sale giving him a profit of $9,705. Not only will he be increasing his profits but he will also be setting himself up to help more people. Those who are the most serious about starting their business often get started at the Platinum level, once he completes his qualification requirements Bob will be able to help some of the most determined people in this industry succeed. I am behind you all the way Bob and I wish you the best.
Monday, May 08, 2006
Back home and ready to get to work
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."- Aristotle
We returned home from Dani Johnson's First Steps to Success today. What another amazing seminar by Dani. This time Carmen and her sales manager went with me. Carmen, does not even own a home based business but she had always wanted to go to one of Dani's seminars because she could never relate to me when I talked about the techniques and strategies that I learned at these seminars. After the first half of the first day Carmen asked me, "Why in the world didn't you tell me what this was like"?
I told her I never knew how to put it into words. I asked her to tell me how I should have explained it and then she agreed it wasn't really possible to explain how effective and amazing this event is without experiencing it. This was my 5th First Steps to Success seminar and I feel it may have been more effective on me than the other seminars. I am not really sure, why? It may have had something to do with Carmen attending with me. Or maybe, it has something to do with me learning what it will take for me to break through my own glass ceiling that I am putting on myself and my business. I am excited about seeing the effects of these new strategies and techniques on my business.
As always one of my favorite parts was getting to spend time with other Coastal Wealthbuilders in person. Especially Stacy from North Dakota and Jamie from Arkansas who has only been a Level III member for 2 weeks and has already made a decision to attend Dani's advanced training seminar later in the month. This advanced training seminar which I will be attending as well is known as Creating a Dynasty. In order to attend Creating a Dynasty you must first be a graduate of First Steps to Success; this will be my first Creating a Dynasty seminar.
We returned home from Dani Johnson's First Steps to Success today. What another amazing seminar by Dani. This time Carmen and her sales manager went with me. Carmen, does not even own a home based business but she had always wanted to go to one of Dani's seminars because she could never relate to me when I talked about the techniques and strategies that I learned at these seminars. After the first half of the first day Carmen asked me, "Why in the world didn't you tell me what this was like"?
I told her I never knew how to put it into words. I asked her to tell me how I should have explained it and then she agreed it wasn't really possible to explain how effective and amazing this event is without experiencing it. This was my 5th First Steps to Success seminar and I feel it may have been more effective on me than the other seminars. I am not really sure, why? It may have had something to do with Carmen attending with me. Or maybe, it has something to do with me learning what it will take for me to break through my own glass ceiling that I am putting on myself and my business. I am excited about seeing the effects of these new strategies and techniques on my business.
As always one of my favorite parts was getting to spend time with other Coastal Wealthbuilders in person. Especially Stacy from North Dakota and Jamie from Arkansas who has only been a Level III member for 2 weeks and has already made a decision to attend Dani's advanced training seminar later in the month. This advanced training seminar which I will be attending as well is known as Creating a Dynasty. In order to attend Creating a Dynasty you must first be a graduate of First Steps to Success; this will be my first Creating a Dynasty seminar.
Friday, May 05, 2006
Dani Johnson, here we come...
"I will equip you to succeed if you let me" Dani Johnson
Just before I go to bed I figured I would make a quick post. In the morning, I will be going to Dani Johnson's First Steps to Success this weekend. I think this is my 5th First Steps to Success seminar. I continue to attend Dani Johnson's seminar because I truly feel she is probably the most successful and viable home based business coach in the industry. Her track record literally speaks for itself. Even going into my 5th seminar I still feel like I am growing and learning as I come out of each seminar. It helps that Dani often has a different emphasis in each seminar so they can all be very different depending on what part of operating a home based business she emphasizes on. Dani, determines what to cover in her seminars by taking questions when you purchase your ticket. From those questions she is able to place emphasis where the majority of the questions come from.
People still don't quite understand the need in attending "First Steps to Success" multiple times. The only way I can explain it is this. Studies show that we only retain about 5% of what we hear. So for example if you were going to have surgery would you want a surgeon who only retained 5% of what he heard in school or do you want one who dug down deep and learned all he/she could about being a surgeon before they cut on you? Of course, you would want the one that learned all they could through indepth study.
In the home based business industry "First Steps to Success" is like a university education equivalent. However, anyone can go and listen to the lesson once but those who are most successful will probably attend multiple times, dig down and really study the lessons they are taught. I also view myself similar to that surgeon, I feel that I should be as prepared as possible so that I am able to serve my clients as best I can. This will help me to be as successful as possible, in turn I can teach clients the same.
The differences between the surgeon that I mentioned and myself are that I am able to earn a larger income than he/she is, I don't have to pay nearly as much for my education, my education doesn't take as long as his, and I will likely be able to retire before the average surgeon hits their prime. Of course Dani's seminars are a pivotal part for those who are ultra successful in this industry.
Just before I go to bed I figured I would make a quick post. In the morning, I will be going to Dani Johnson's First Steps to Success this weekend. I think this is my 5th First Steps to Success seminar. I continue to attend Dani Johnson's seminar because I truly feel she is probably the most successful and viable home based business coach in the industry. Her track record literally speaks for itself. Even going into my 5th seminar I still feel like I am growing and learning as I come out of each seminar. It helps that Dani often has a different emphasis in each seminar so they can all be very different depending on what part of operating a home based business she emphasizes on. Dani, determines what to cover in her seminars by taking questions when you purchase your ticket. From those questions she is able to place emphasis where the majority of the questions come from.
People still don't quite understand the need in attending "First Steps to Success" multiple times. The only way I can explain it is this. Studies show that we only retain about 5% of what we hear. So for example if you were going to have surgery would you want a surgeon who only retained 5% of what he heard in school or do you want one who dug down deep and learned all he/she could about being a surgeon before they cut on you? Of course, you would want the one that learned all they could through indepth study.
In the home based business industry "First Steps to Success" is like a university education equivalent. However, anyone can go and listen to the lesson once but those who are most successful will probably attend multiple times, dig down and really study the lessons they are taught. I also view myself similar to that surgeon, I feel that I should be as prepared as possible so that I am able to serve my clients as best I can. This will help me to be as successful as possible, in turn I can teach clients the same.
The differences between the surgeon that I mentioned and myself are that I am able to earn a larger income than he/she is, I don't have to pay nearly as much for my education, my education doesn't take as long as his, and I will likely be able to retire before the average surgeon hits their prime. Of course Dani's seminars are a pivotal part for those who are ultra successful in this industry.
Monday, May 01, 2006
Month in Review
"Goals in writting are dreams with deadlines". Brian Tracy
What a month it has been. I have been doing plenty of thinking and reflecting on myself and my goals. There is so much that I think about and so little time to write about it. I continue to vow to put more of my thoughts and ideas down on this blog so that you can see what goes on in my mind first hand.
My goal for April was $30,000 profit, unfortunately I did not hit that. I only earned $9,705, that means that I am still behind for my annual goal of $250,000 profit. As of the end of April this year I have earned $43,705. That means over the next 8 months I will have to earn $206,295 to reach my goal for the year. Of course due to the number of level III members that are coming on to my team and quickly becoming "First Steps to Success" graduates and many will be Dynasty qualified by the end of May, I expect to see continued growth and increased momentum. I completely expect it will be possible earn as much as $50,000 in one month before the end of the year.
In order to reach my goal by the end of December I will have to average a monthly income slightly higher than $25,000 a month. With my increased advertising from last month and as I continue that into this month I expect to see a considerably higher monthly income within the next 30 to 60 days. Therefore, I will maintain my monthly goal at $30,000 going into May. It seems that by the end of this week I may very well already have about $10,000 for the month but I will keep you posted on that.
A big congratulations goes out to Jamie from Arkansas who started her Coastal business in April. When she first looked at Coastal she considered getting started at the Premiere level, however, after doing all of her research she felt that the best business decision for someone who was serious about earning as much as possible would be to get started at the Platinum level. Jamie, will be no doubt be successful as long as she consistently returns clients request within her business. Jamie owned a dog kennel business with her husband Josh; they both decided they wanted something that could allow them to earn more money but was not as time intensive. They have since sold their dog kennel and their dogs to get started with Coastal. Jamie, has a strong telephone posture that will serve her well. She seems to be the type of person that is decisive and capable of accomplishing anything she puts her mind to. With her husband's support I am certain they will be extremely successful.
What a month it has been. I have been doing plenty of thinking and reflecting on myself and my goals. There is so much that I think about and so little time to write about it. I continue to vow to put more of my thoughts and ideas down on this blog so that you can see what goes on in my mind first hand.
My goal for April was $30,000 profit, unfortunately I did not hit that. I only earned $9,705, that means that I am still behind for my annual goal of $250,000 profit. As of the end of April this year I have earned $43,705. That means over the next 8 months I will have to earn $206,295 to reach my goal for the year. Of course due to the number of level III members that are coming on to my team and quickly becoming "First Steps to Success" graduates and many will be Dynasty qualified by the end of May, I expect to see continued growth and increased momentum. I completely expect it will be possible earn as much as $50,000 in one month before the end of the year.
In order to reach my goal by the end of December I will have to average a monthly income slightly higher than $25,000 a month. With my increased advertising from last month and as I continue that into this month I expect to see a considerably higher monthly income within the next 30 to 60 days. Therefore, I will maintain my monthly goal at $30,000 going into May. It seems that by the end of this week I may very well already have about $10,000 for the month but I will keep you posted on that.
A big congratulations goes out to Jamie from Arkansas who started her Coastal business in April. When she first looked at Coastal she considered getting started at the Premiere level, however, after doing all of her research she felt that the best business decision for someone who was serious about earning as much as possible would be to get started at the Platinum level. Jamie, will be no doubt be successful as long as she consistently returns clients request within her business. Jamie owned a dog kennel business with her husband Josh; they both decided they wanted something that could allow them to earn more money but was not as time intensive. They have since sold their dog kennel and their dogs to get started with Coastal. Jamie, has a strong telephone posture that will serve her well. She seems to be the type of person that is decisive and capable of accomplishing anything she puts her mind to. With her husband's support I am certain they will be extremely successful.
Thursday, April 27, 2006
Phone call from Mom
As usual, I just returning calls to clients and my phone rang. The Caller ID showed me it was my Mom's cell phone. I answered and said, "Hi Mom, what's up".
She responded, "Not much, how are you".
"Good, just working", I said.
"Well they took Mr. Bill back to the hospital from the nursing home, he has some sort of infection but he is doing O.K. right now" ( Mr. Bill, is Donnie's daddy ). She continued, "Mrs. Virgina's sick now"
"What?"
"You know she has been staying with us some since Mr. Bill has been sick".
"Yeah", I knew that.
" Well, she fell yesterday when she was at the nursing home with Mr. Bill. She hit her head but they checked her out and she seemed fine but, she was a little nauseated. Last night she started throwing up and having diarrhea. She had lots of diarrhea, I was up with her all night. This morning before I got ready for work I woke Donnie up and told him that his mama was sick and needed to watch her. Well he called me at work and said that he was taking him mama to the doctor because she wasn't doing any better. When he got to the doctor with her, he sent her to the hospital to be admitted."
I asked, "Do they know what's wrong with her"?
"No, not yet they just started her on some IV fluids". ( Obviously she is probably dehydrated )
She continued, "Anyway, after I got off of the phone with Donnie this morning. My cell phone rang, it was Mark ( her brother ) he said that Mama was going to the hospital. She has had another mini stroke". ( This makes me nervous she has had 2 or 3 mini strokes already which increases her chances of having a fatal stroke one day).
"How is she doing", I wanted to know?
"Her face is affected some this time Jackie, and her speech is affected. It is very very difficult to understand her".
My heart sank. I grew up and my Papa and Nannie were like a second set of parents for Stacy and I. During the summer staying at their house. Nannie fixed breakfast for us every morning usually 2 eggs over easy and 2 pieces of bacon with one piece of toast. Those were the best breakfasts I have ever eaten. During the day we usually helped Nannie and Papa with some sort of garden activity which usually lead to shelling butter beans, crowder peas, or shelling pecans right up until lunch. It was during these times we usually sat and talked with Nannie. She usually talked with us like we were adults even though we were only about 7 or 8 years old. Of course often times she talked to us about her growing up and how difficult life was before electricity and indoor plumbing. These were such great stories and I still remember many of them. At lunch time we usually just had a sandwich or Nannie fixed a small Mr P's brand pizza. Now that I have grown up I think these are really crappy pizzas but because of the memories that I have of them I still like them. After lunch Nannie and Papa religiously watched "The Young and The Restless" by default, so did Stacy and I. Usually while watching TV, Nannie or Papa or both would fall asleep. Then Stacy and I would also take a nap. In the afternoons Stacy spent a lot of time playing and occupying ourselves. It was during this time we played soccer, 1 on 1 using pinetrees in their yard as goal post, or made different kinds of paper airplanes while Nannie scolded us for wasting paper. We spent time making bows and arrows, slingshots, watching or helping Nannie and Papa as they did yard work, or worked on ceramics, a hobby of theirs.
Hearing about Nannies recent stroke makes me realize that the tomb on those memories is almost sealed. It's horrible realizing that such a fond part of life has almost evaporated.
She responded, "Not much, how are you".
"Good, just working", I said.
"Well they took Mr. Bill back to the hospital from the nursing home, he has some sort of infection but he is doing O.K. right now" ( Mr. Bill, is Donnie's daddy ). She continued, "Mrs. Virgina's sick now"
"What?"
"You know she has been staying with us some since Mr. Bill has been sick".
"Yeah", I knew that.
" Well, she fell yesterday when she was at the nursing home with Mr. Bill. She hit her head but they checked her out and she seemed fine but, she was a little nauseated. Last night she started throwing up and having diarrhea. She had lots of diarrhea, I was up with her all night. This morning before I got ready for work I woke Donnie up and told him that his mama was sick and needed to watch her. Well he called me at work and said that he was taking him mama to the doctor because she wasn't doing any better. When he got to the doctor with her, he sent her to the hospital to be admitted."
I asked, "Do they know what's wrong with her"?
"No, not yet they just started her on some IV fluids". ( Obviously she is probably dehydrated )
She continued, "Anyway, after I got off of the phone with Donnie this morning. My cell phone rang, it was Mark ( her brother ) he said that Mama was going to the hospital. She has had another mini stroke". ( This makes me nervous she has had 2 or 3 mini strokes already which increases her chances of having a fatal stroke one day).
"How is she doing", I wanted to know?
"Her face is affected some this time Jackie, and her speech is affected. It is very very difficult to understand her".
My heart sank. I grew up and my Papa and Nannie were like a second set of parents for Stacy and I. During the summer staying at their house. Nannie fixed breakfast for us every morning usually 2 eggs over easy and 2 pieces of bacon with one piece of toast. Those were the best breakfasts I have ever eaten. During the day we usually helped Nannie and Papa with some sort of garden activity which usually lead to shelling butter beans, crowder peas, or shelling pecans right up until lunch. It was during these times we usually sat and talked with Nannie. She usually talked with us like we were adults even though we were only about 7 or 8 years old. Of course often times she talked to us about her growing up and how difficult life was before electricity and indoor plumbing. These were such great stories and I still remember many of them. At lunch time we usually just had a sandwich or Nannie fixed a small Mr P's brand pizza. Now that I have grown up I think these are really crappy pizzas but because of the memories that I have of them I still like them. After lunch Nannie and Papa religiously watched "The Young and The Restless" by default, so did Stacy and I. Usually while watching TV, Nannie or Papa or both would fall asleep. Then Stacy and I would also take a nap. In the afternoons Stacy spent a lot of time playing and occupying ourselves. It was during this time we played soccer, 1 on 1 using pinetrees in their yard as goal post, or made different kinds of paper airplanes while Nannie scolded us for wasting paper. We spent time making bows and arrows, slingshots, watching or helping Nannie and Papa as they did yard work, or worked on ceramics, a hobby of theirs.
Hearing about Nannies recent stroke makes me realize that the tomb on those memories is almost sealed. It's horrible realizing that such a fond part of life has almost evaporated.
Tuesday, April 25, 2006
What do you do with your profits?
"Your wealth can only grow to the extent that you do!" - T. Harv Eker
What do you do with your profits?
That was a question that I recently discovered on a small business message board. Below was my response.
I don't use percentage for the most part other than 10% of what I earn is tithed or goes towards charity. 30% goes to Taxes. Then I live off of $5,000 a month $2,000 for personal expenses and $3,000 for business which includes, web hosting, advertising, and personal development/growth. Everything else goes to buying assests that will create a passive income i.e. stocks, real estate, other businesses. I currently live well below my means sometimes putting as much as $15,000 to $20,000 into investing on a monthly basis but I am dead serious to reaching a point in which I will be living 100% from passive investment income. I want to make sure that I am always able to do what I enjoy and can always provide for my family. Right now I enjoy working and thank God everyday for allowing me to work for myself. However, one day I may enjoy swimming in the Caribbean at that point that is what I will do. I say this because I see that many of my business clients build successful businesses but never learn what to do with the extra income. Most businesses owners don't ever consider how to generate income outside of their primary business; therefore they remain trapped in the JOB they own. Don't put yourself in a position to work your business because you HAVE to. Use your income to buy assests so that you will not always HAVE to work your business. Most of us entrepreneurs do this because we love to, let's be sure we keep it that away. If we want to take a break or hiatus or vacation let's make sure we put ourselves in a position where we are free to make that choice.
Just my opinion,
Jackie
* some of the language was changed to fit my blog
To expand on my specific plans for my income currently. I am working on saving 1 year's worth of expenses in a money market account. So that will be a total of $60,000 ($5,000 a month for 12 months ). Currently I am using Paypal's money market account primarily because the interest is extremely competitive (4.52% as of this writing) and they do not have any restrictions on accessing my funds. Many money market accounts have restrictions such as you can only write a check from your account 3 times a year and it has to be for more than $500. Paypal's money market account doesn't have any restrictions such as that. In fact with Paypal you can get a debit card and get access to your funds whenever you want.
After one year of expenses are saved at that point. I will let my money market account just continue to grow. I will then have the security of knowing that if for any reason I am taken away from my business and can't work or am unable to work that; I have at least one year's worth of expenses I can live on. I will then use all other income above and beyond my budgeted expense to invest in more lucrative assests such as common stocks and real estate. My brother, Stacy, is far more knowledgeable about real estate investing than I am while I know more about the stock market. He has no interest in the stock market and he has a laser focus on real estate investments.
As I invest in stocks I will have a specific focus on the types of stocks I am looking for. I will not make trades often, I will have a set criteria for the investments I will be looking for. I will look for small cap. Companies with minimal debt, large amount of positive cash flow, positive earnings that are increasing at a higher rate of return than long term treasury notes, solid management track record, companies that are growing to become industry leaders, and with a stock priced at 15 percent discount to it's intrinsic value. All of my stock purchases will be made with expectation of holding on to my investments for several years to come. If that was a bit difficult for you to follow, just subscribe to my blog and you will learn more as you follow my actions.
I have a weakness when it comes to understanding real estate investing, I have a lot more to learn about real estate. I am hoping my brother guides me to the right places so I can learn as much as possible in the shortest amount of time, this will help cut down my learning curve. Real Estate, offers some of the best investing opportunities when trying to invest for income. That is what I really like about the idea of investing in Real Estate especially when considering rental income. In my opinion rental income is superior to stock investing when investing for the purpose of income. However, the advantages to long term stock investing are huge. First, you are able to grow your income completely tax deferred until you sell your investment; after all you don't pay capital gains until you sell and realize a profit. Long term stock investing can be one of the very best ways to take advantage of compounding as long as your investments continue to grow at a rate that is beating long term treasury bonds.
If you have any questions about this post feel free to ask. If I don't know the answer I will definitely look it up, your questions will just help me learn.
What do you do with your profits?
That was a question that I recently discovered on a small business message board. Below was my response.
I don't use percentage for the most part other than 10% of what I earn is tithed or goes towards charity. 30% goes to Taxes. Then I live off of $5,000 a month $2,000 for personal expenses and $3,000 for business which includes, web hosting, advertising, and personal development/growth. Everything else goes to buying assests that will create a passive income i.e. stocks, real estate, other businesses. I currently live well below my means sometimes putting as much as $15,000 to $20,000 into investing on a monthly basis but I am dead serious to reaching a point in which I will be living 100% from passive investment income. I want to make sure that I am always able to do what I enjoy and can always provide for my family. Right now I enjoy working and thank God everyday for allowing me to work for myself. However, one day I may enjoy swimming in the Caribbean at that point that is what I will do. I say this because I see that many of my business clients build successful businesses but never learn what to do with the extra income. Most businesses owners don't ever consider how to generate income outside of their primary business; therefore they remain trapped in the JOB they own. Don't put yourself in a position to work your business because you HAVE to. Use your income to buy assests so that you will not always HAVE to work your business. Most of us entrepreneurs do this because we love to, let's be sure we keep it that away. If we want to take a break or hiatus or vacation let's make sure we put ourselves in a position where we are free to make that choice.
Just my opinion,
Jackie
* some of the language was changed to fit my blog
To expand on my specific plans for my income currently. I am working on saving 1 year's worth of expenses in a money market account. So that will be a total of $60,000 ($5,000 a month for 12 months ). Currently I am using Paypal's money market account primarily because the interest is extremely competitive (4.52% as of this writing) and they do not have any restrictions on accessing my funds. Many money market accounts have restrictions such as you can only write a check from your account 3 times a year and it has to be for more than $500. Paypal's money market account doesn't have any restrictions such as that. In fact with Paypal you can get a debit card and get access to your funds whenever you want.
After one year of expenses are saved at that point. I will let my money market account just continue to grow. I will then have the security of knowing that if for any reason I am taken away from my business and can't work or am unable to work that; I have at least one year's worth of expenses I can live on. I will then use all other income above and beyond my budgeted expense to invest in more lucrative assests such as common stocks and real estate. My brother, Stacy, is far more knowledgeable about real estate investing than I am while I know more about the stock market. He has no interest in the stock market and he has a laser focus on real estate investments.
As I invest in stocks I will have a specific focus on the types of stocks I am looking for. I will not make trades often, I will have a set criteria for the investments I will be looking for. I will look for small cap. Companies with minimal debt, large amount of positive cash flow, positive earnings that are increasing at a higher rate of return than long term treasury notes, solid management track record, companies that are growing to become industry leaders, and with a stock priced at 15 percent discount to it's intrinsic value. All of my stock purchases will be made with expectation of holding on to my investments for several years to come. If that was a bit difficult for you to follow, just subscribe to my blog and you will learn more as you follow my actions.
I have a weakness when it comes to understanding real estate investing, I have a lot more to learn about real estate. I am hoping my brother guides me to the right places so I can learn as much as possible in the shortest amount of time, this will help cut down my learning curve. Real Estate, offers some of the best investing opportunities when trying to invest for income. That is what I really like about the idea of investing in Real Estate especially when considering rental income. In my opinion rental income is superior to stock investing when investing for the purpose of income. However, the advantages to long term stock investing are huge. First, you are able to grow your income completely tax deferred until you sell your investment; after all you don't pay capital gains until you sell and realize a profit. Long term stock investing can be one of the very best ways to take advantage of compounding as long as your investments continue to grow at a rate that is beating long term treasury bonds.
If you have any questions about this post feel free to ask. If I don't know the answer I will definitely look it up, your questions will just help me learn.
Monday, April 24, 2006
Pistons 92 - Bucks 74
“If anything is worth trying at all, it’s worth trying at least 10 times.” Art Linkletter
There you have it. Carmen and I got back from the game at about 11:30 last night. As you can see from the title the Pistons won their first playoff game. Way to go Pistons! The game was awesome and we had really good seats on the first level. The entrepreneur in me was awful intrigued as well. I am always watching advertisers and analyzing how effective there advertising is. In The Palace, where the Pistons play, my head was spinning thinking about how much revenue was being generated right before my eyes. A vast majority of that revenue was being generated via advertising. There was subtle and not so subtle advertising everywhere. One company in particular Rock Financial owns the place I think. They bar none have the most advertising in The Palace. As we went to the game they were giving hats away that said Playoffs 2006, but on the back it said Rock Financial. There is a remote control blimp that flys around the Palace during half time, between periods and before and after the game branded with Rock Financial. Every seat at the game had inflatable Thunderstix (used to clap together and make noise) branded with Rock Financial. The lights circling the dome and on the Jumbotron seemed to flash something about Rock Financial every few minutes.
Observing all of this made me think of several things. First of all how much monthly income does a company have to generate to buy that much advertising? How profitable can the loan industry be? I wonder how effective that advertising is. I am certain Rock Financial has plenty brand recognition but I wonder how much money that brand recognition creates for them? I wonder if they even know? Ultimately, I wonder if it is even cost effective for them. If it is cost effective, I wonder why they choose to advertise in a sporting venue and if there could be a better venue for that form of advertising?
I can not even go to a basketball game without entrepreneurial thoughts constantly running through my head. It can both be a blessing and a curse. Do you ever find yourself thinking about things like this?
There you have it. Carmen and I got back from the game at about 11:30 last night. As you can see from the title the Pistons won their first playoff game. Way to go Pistons! The game was awesome and we had really good seats on the first level. The entrepreneur in me was awful intrigued as well. I am always watching advertisers and analyzing how effective there advertising is. In The Palace, where the Pistons play, my head was spinning thinking about how much revenue was being generated right before my eyes. A vast majority of that revenue was being generated via advertising. There was subtle and not so subtle advertising everywhere. One company in particular Rock Financial owns the place I think. They bar none have the most advertising in The Palace. As we went to the game they were giving hats away that said Playoffs 2006, but on the back it said Rock Financial. There is a remote control blimp that flys around the Palace during half time, between periods and before and after the game branded with Rock Financial. Every seat at the game had inflatable Thunderstix (used to clap together and make noise) branded with Rock Financial. The lights circling the dome and on the Jumbotron seemed to flash something about Rock Financial every few minutes.
Observing all of this made me think of several things. First of all how much monthly income does a company have to generate to buy that much advertising? How profitable can the loan industry be? I wonder how effective that advertising is. I am certain Rock Financial has plenty brand recognition but I wonder how much money that brand recognition creates for them? I wonder if they even know? Ultimately, I wonder if it is even cost effective for them. If it is cost effective, I wonder why they choose to advertise in a sporting venue and if there could be a better venue for that form of advertising?
I can not even go to a basketball game without entrepreneurial thoughts constantly running through my head. It can both be a blessing and a curse. Do you ever find yourself thinking about things like this?
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