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Loral Langemeier first introduced her exclusive Wealth Cycle system in the national bestseller The Millionaire Maker. Now, in The Millionaire Maker's Guide to Creating a Cash Machine for Life, she reveals how you can learn to earn more money by building a viable business. The Cash Machine is simple to start and sustain. You'll use skills you already possess and build a reliable team to help. Whether you want to partner with others or create your own team to start, fix, or buy a business, Langemeier shows you how to turn it into a Cash Machine that makes money from Day One. This book delivers a step-by-step action plan for starting up your Cash Machine, helping you to Identify your personal skill set Brainstorm a business idea and model it after a similar venture Test the sales potential Create a Cash Machine Plan Build and manage your team Develop short- and long-term marketing strategies Grow your business-and make more money! Langemeier gets you up to speed on marketing, sales, operations, finance, and management to keep your business operating effectively. She also shares instructive and inspiring real-life examples of successful Cash Machines and explains how to use profits to fuel the Wealth Cycle. In order to be truly wealthy, you need more than a 9-to-5 salary and investments: you need a Cash Machine. The Millionaire Maker's Guide to Creating a Cash Machine for Life gives you the
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You can't save your way to genuine financial security or get there by cutting costs. It simply cannot be done. Instead, you should work to earn more by starting your own viable business on the side which harnesses the skills you already have for greater financial gain. As you build a reliable team to make this happen, you can build your wealth even if you choose to keep your 9-to-5 job.
In simple terms, you have to build and operate your own "Cash Machine. " A Cash Machine is a legitimate and legal business venture which:
Uses your personal business skill set.
Is modeled after a similar business which has already been proven to be highly successful.
Gets developed within a matter of days or weeks rather than months or years.
Takes full advantage of the acceleration benefits of effective teamwork.
Generates immediate cash which you can use to increase your personal wealth.
Wealthy people aren't any smarter than you—they just do things differently. Instead of planning on how to manage their debts better, they focus on expanding their lives by making more. By building your own Cash Machine, you have the opportunity to build a solid business asset which can create an expansive, empowering life for you and your family.
"Traditional teaching of entrepreneurship suggests that you begin with an idea. Not here. We begin with what you already know so that you can get going and make money immediately. You may not realize it, but you already have the skills, intelligence and energy to build something valuable. The only thing you don't have is the way, the right way, to make a lot of money from what you already know. The good news is that it's never too late to start. With a Cash Machine, you will learn to earn and make money—fast. The Cash Machine will help you do just that. The cash flow from your Cash Machine seeds your assets and fuels the Wealth Cycle. In order to be wealthy, you need a Cash Machine."
The first step in creating a Cash Machine is to evaluate what your current skill set is. By harnessing the skills you already have, you can start earning, even while you are learning to expand and deepen your skills.
At a practical level, your skills are what you're really good at and what you already know or have experience in. Many people are so busy with their jobs that they have never taken the time to evaluate what their true business skills actually are.
To uncover and analyze your own skills, ask:
■ What are my current responsibilities in my job or with my own company?
■ What specific tasks are associated with these responsibilities that I am good at?
■ What other business tasks do I routinely do on a daily basis because I like doing them?
■ What industries and markets do I know and have experience in?
■ What tasks do I do at home in my own time to a high degree of competence?
■ What activities do I do in my spare time?
■ What activities would I like to be doing in my spare time if I had enough time and money?
■ What tasks do others ask me to help them with?
■ What tasks am I actually quite good at but which I generally take for granted?
It really doesn't matter how long or short your list of current skills is, because a solid and successful business can be built on a single skill if necessary. In some ways, it can be preferable to have a short list of skills because that will limit your options and allow you to focus.
One of the key principles of building a successful Cash Machine is that you need to be able to distinguish between when you're working on your business and working in your business. You work on your business when you're looking at the big picture and figuring out what you need to do to take your Cash Machine from where it's currently at to where you want it to be in the future.
You're working in your business when you're part of the day-to-day operations of your business. You need to balance your time so you can spend as much of it as feasible working on your business. The most obvious way to do this is to set up business systems and hire other people to do the bulk of the day-to-day tasks.
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