“Let’s Summarize What We’ve Learned in 9 months”
If you want to make money run after you, please sign up for the Wealth-plan so I can email you my previous articles from the very start.
In this article, I will summarize all the things I’ve talked about until this point so you can catch up on what you’ve missed.
How to Make Money Run After You (Recap)
After 9 months of reading my articles at Manila Bulletin, you should be aware by now of the following:
- Wealth is never destroyed, only transferred. Every single day there will be people who lose money, and at the same time, there will be people who make money. Money is transferred from losers to winners.
- To become a winner and have money and wealth transferred to you, you first have to learn a simple money management technique which I call my simple cash flow method. This method teaches you how to know where you are financially with just 3 numbers on a blank sheet of paper.
- To become wealthy, you DO NOT simply follow the saying “live below your means”. Because it just does not work for majority of people, instead, I taught you to spend even more, BUT, you must spend more on GOOD expenses and not BAD ones.
- One of the worst BAD expenses around are MONEY LEECHES. Money leeches are persons or uncanny events that just happen to show up anytime you come into some money, it could be a long lost friend, relative, acquaintance, or event such as hospitalization or house or car repairs that you were unprepared for. Leeches deplete your wealth and most of the time, you don’t even realize it.
- Instead of giving money to leeches, learn to say NO. Instead of cash, learn to give in kind, which based on my experience is worth so much more in the long run, plus you dramatically reduce all the leeches in your life and protect your hard earned money.
- For those who are married, your greatest asset /liability will be your other half. Make your Husband / Wife your wealth building partner, learn to talk and not fight about money, pray before your money conversations, if you get into a fight, never sleep without patching things up, In my experience, it is the Man who should always apologize first if you get into an argument (even if it is not your fault) and it is the Man who has to lead the conversation, because it is the men who are hardest to convince to do anything about the current situation.
- For those who are single, know that your future Husband /Wife is the key to a wealthy and happy life. Pick well, and do not settle for anybody who is not open to talking about money and does not make you happy and fall in love with passion. Remember, you can be great by yourself, but you can be so much more if you find the right one to live and grow your life with.
- Figure out what you are ‘great at’ as soon as possible. Many times we struggle with wealth building because we are not doing what we were born to do. Once you align yourself to doing what you are great at doing, you discover who you really were meant to be. Many times, you become successful in your career but are miserable doing what you do day in and day out. You are not alined, you’ll get there eventually if you really want to and if you just answer the question, “what am I really great at doing”, and when you do, it opens up a whole new world for you and wealth will flow so much faster.
- Building wealth has a simple 3 step blue-print. Step 1 make the money, which you can do by excelling in your chosen career, or by building a business. Step 2 manage the money, which requires you spend, save, give, and protect your money properly, and Step 3 invest the money wisely.
- If you are to build a business, be aware that there are 2 kinds of businesses. The first is a “negative” cash flow based business, and the other is a “positive” cash flow business. Majority of businesses that people think of, say a coffee shop, is a negative cash flow business because it requires you to spend money first (cash out first) before money comes in. However, ever since businesses were born, just a few really realize that businesses can be cash flow positive from the very beginning, i.e. service based businesses which only provide services when money comes in first, then spending is done later. Knowing the difference between the 2 business cash flow models will immediately add to your wealth flow journey.
- If you are ready to invest, you just need to consider 3 questions before you plunk down the money. 1. Can you afford to lose the money in case the investment does not go your way? 2. Do you understand what you are investing in? 3. How long will it take for the investment to produce something one way or another? We all need to invest because savings alone will not be enough to get you wealthy, also and practically speaking, we are not getting any younger and we need something that will provide for us when we can no longer work as hard.
- Lastly, you need a thick skin to generate true wealth, from getting rid of money leeches, to excelling in your career, to building businesses, to successful investing. You will encounter many antagonists, many nay sayers, many small minds that will tell you you are not good enough, or it cannot be done, do not get angry with them, instead simply decide to prove them wrong.
So after reading everything and following my articles for 9 months, I can say this, your life has not changed one single bit am I right? Sure, you may have had an “aha” moment, or a time when you had some clarity, but you forgotten it all by now.
Do you really want results? Then Join me in the next article as I explain what to do next with all of the things I mentioned above and make money run after you.
Author Box:
Mark So is a fervent businessman, Investor and educator. He is the Chairman and CEO of Businessmaker Academy—a business, finance and corporate training center. He is the founder and Chief Forex Trainer of Forex Club Asia, A Trading club of Forex Traders across Asia. He is also the Founder and Chief Trainer of the Philippine Franchise Institute which specializes in training and growing existing Franchise businesses. Mark, together with his loving wife also created wealthflowproject.com a website dedicated to teaching people how to make money run after you. A sought after speaker for business, investing, You may email your comments and questions to: markso@wealthflowproject.com or call the office at 6874445 / 6873416 / 6874645 for a schedule of his seminars
