Do you have what it takes to become a millionaire? Do you know the most important thoughts and habits of “the millionaire mind”?
Long before the best-selling book and video The Secret, enterprising men and women have been trying to understand the success secrets of the rich and famous. In fact, the Law of Attraction draws on the research of some pioneering thinkers who have given us clear directions for creating wealth.
You can see yourself as an entrepreneur, setting your own hours, being your own boss, enjoying the freedom of being self employed. And you can just imagine what life will be like once you’re a big success and pulling in all that cash.
But hang on. Before you run to the car showroom and test drive your dream car, let me ask you something: Are you cut out to be an entrepreneur? Do you really have what it takes to get rich?
Alfa Demmelash grew up on less than a dollar a day against the backdrop of torture and murder in Ethiopia. Today, she is living the American dream and helping others do the same.
Alfa started a nonprofit, Rising Tide Capital, where small business owners, including women, minorities and other underserved populations, learn the skills they need to be successful.
Watch this amazing video of small business owners describing how Alfa has helped them grow their businesses.
In the next video, Alfa tells her own story of escaping Ethiopia to pursue the American Dream.
Alfa is a shining example of passion in action. I hope you enjoyed her story as much as I did. Special thanks to my sister-in-law, Lynn Morin,for sharing this amazing story with me.
When clients come to my law clinic to start a business, the first question they usually ask is: “Should I be a partnership or a corporation?” Making your business “legal” is such an exciting step…most people just can’t wait to do it!
But there are a few questions you need to ask yourself before you decide on a legal form or structure. You should think about these questions even if right now your business consists of only you working in a closet out of your home. If you’re thinking about building a business, eventually there will have to be other people involved, and potentially other people’s money as well.
Remember how we talked on Day 7 about Robert Kiyosaki’s “cash flow quadrant” model? Basically, the idea is that there are four ways to generate income: as an employee, by being self-employed, as a business owner, or as an investor.
Each of these categories has its advantages and disadvantages, but Kiyosaki teaches that only business owners and investors are on the path to long-term financial freedom.
Employees, even those who employ themselves, are caught in the trap of trading time for dollars. If they don’t work, they don’t get paid. They have no leverage to earn income from the efforts of others, and no sources of residual income.
Would you be surprised to learn that many people who are thinking about making the shift from employee to entrepreneur are actually thinking about becoming self-employed?
Barn-raising is a centuries-old tradition in rural America. Early pioneers quickly recognized that it is practically impossible for one person to build a barn. So they started a system in which all members of a community would gather together to build a barn for one family at a time.
Here is how it works. The family that needs the barn acquires all of the materials, often by barter or trading. Then everyone descends on the property and works as a team to build the barn from the ground up. No money changes hands…because everyone knows the community will be there for them when it is their turn to build a barn.
You can see how it works in this clip from an old Harrison Ford movie.
Sometimes, when you’re thinking about starting a new business, the biggest challenge is how to get started. Today, we’re going to think of your business as a barn…and figure out how to have a barn-raising to get it built from the bottom up.
I just had to share this great video with you from BraveHeart TV. They are interviewing marketing legend Jay Abraham about how to recession-proof your business. Enjoy!
Today we are going to talk about getting from where you are now to that ideal place you envisioned yesterday.
But first, I want to share with you a great Vision/Purpose/Mission statement I ran across yesterday on the flyleaf of a book by Michael Gerber, best-selling author of The E-Myth series.
Michael’s Dream: to inspire people to dream by awakening the entrepreneur within them.
Michael’s Vision: to be the authority for helping dreamers everywhere create the small businesses they once could only imagine.
Michael’s Purpose: to transform the lives of ordinary people by providing them with the thrill of creation while creating the means to generate their own and others’ economic freedom.
Michael’s Mission: to create a turnkey system for awakening the entrepreneur within every person who wishes to go into business for themselves, while providing them with the support for doing it.
Now, that’s not the same old, tired, worn-out corporate mission statement. If yours doesn’t sing like Michael’s, keep working on it until it does! And you might want to read Michael’s book for inspiration. I’ve given you the link in the resources section below.
Once you have a vision that feels compatible with your passions and values, it is time to think about your one-year goals. Why just one year?
Executive Coach Tony Jeary explains it this way.
Let’s face it — the speed of life today is hectic and fast-paced. Time is the most important capital you have, and most people feel overdrawn….
The speed of life limits to about one year the length of time your Clarity Blueprint can be effective. In the course of that year, many things will change that you could not have predicted and over which you can have not control.
So Tony recommends that you create a detailed blueprint for the next 12 months, and be prepared to change it as you go along!
Congratulations! You are one week closer to having the life of your dreams.
This week, we will focus on the “how” part of the equation…how to take your vision of an ideal business to reality.
The first step…and one you can’t afford to miss…is to become very clear about where you are going. So today we are going to go back to the vision statement you drafted on Day 3, update it with any new information you have discovered, and then compress it into two key statements:
Welcome to my blog. You may know me as Laurie Morin, a somewhat wonky law professor, business owner and friend to the downtrodden. But beneath this mild-mannered exterior lies the soul of RENAISSANCE GIRL. She sings arias, she dances with the stars, she writes poetry and speaks 20 languages. She is on a journey around the globe to spread a message of love and prosperity. Read on to join her adventures. 