Loral Langemeier has a new book coming out on October 13th, and they are expecting it to be a best seller just like her three Millionaire Maker books are.

I’ve talked about Loral several times here, mostly about her Cash Machine Workshop live event. The reason I devote so much time to her is that she is for real. She isn’t selling a program that requires you to spend a wad of money to learn a bunch of new skills so that you can hopefully start to make a little money in a year or two. She encourages you (at the live events she pushes you) to use what you already know to start making money today. Once you are making money, then you spend the money to hire the team that will support you.

Here’s the description of the book:

Turn what you know into dough!

You Don’t have fixed potential, why accept fixed income? By following Loral’s simple and straightforward approach, you’ll put more cash – $1000 or more a month, into your pocket in no time. I’ve helped thousands of people make extra cash fast. People from all different backgrounds, in a variety of situations, all over the world. People just like you!

Get on the list to be one of the first to get the book. Click here  to Loral’s site.

In the big lead-up to the book, Loral has recorded a free 20 minute video that is all content. You can get to it by going to my PlayLikeAMillionaire site and entering your name and email address. If nothing else, it’s a great free introduction to Loral Langemeier. Go check it out.

Wayne Woodworth
Play Like a Millionaire

I was looking for something to listen to and came across Robert Kiyosaki‘s audio book – Increase Your Financial IQ. It was published in March 2008 and has some very good, current information. I highly recommend it. There was some important information in the first chapter that I want to share here.

In 1971 President Nixon took the US off the gold standard, which changed how our money works. Prior to 1971, the dollar was based on gold, which has intrinsic value. To save money was equal to saving gold, so it made sense to save money for retirement or college because it would hold value.

Since 1971, the dollar is no longer money because it doesn’t have any real value backing it. It is now a currency. The word “currency” comes from the same root as “current”, like an electric current or air current. Currents require movement for them to exist. Likewise, a currency requires movement for it to maintain value.  As you can see from our current economy, as the movement of the dollar slows, the value of the dollar decreases and the economy suffers.

Historically, all currencies eventually go to zero.

Are you listening to those financial advisers who are telling people that they need to reduce their spending, pay off debt, and save for the future? If the value of our currency does go to zero, what will your savings be worth?

So, what do you do? How do you secure your financial future? I’m not a financial adviser, so I can’t tell you what to do. I can tell you what I’m doing though.

First, I’m listening to people like Robert Kiyosaki, Donald Trump,  Bob Proctor, and Loral Langemeier. They teach that a job is a lousy way to make money. Kiyosaki, in Rich Dad Poor Dad, said that a job is a good place to learn a new skill, then move one once it has been learned. The thing I like about these teachers is that they preach what they practice. They look for new sources of income and then use that income to buy more assets that generate even more income, and that is what they teach others to do.

Loral Langemeier, in her Millionaire Maker books and Cash Machine Workshops, teaches people how to build a business as an asset, and that’s what I am doing. To be an asset, the business has to generate a sustainable income. I am building my business in network marketing and affiliate marketing which means that I generate income by promoting products from other companies. That allows me to quickly start making money without the up-front costs of developing a new product.

Once I have a business that produces a steady stream of income, I can take that income to buy more assets that then generate more income. Those assets can be investments in other businesses, real estate, gold, gas, oil, or anything else that has a value and an income stream.

This plan doesn’t mean that you have to live without comforts. In Increase Your Financial IQ, Kiyosaki gives an example of how he bought an expensive luxury car.  He took some money out from one of his assets and invested it so that it would make more money. He gave instructions to the person who managed the investment to let him know when it had increased to the point where he could afford the car, pay the fees for managing the investment, and still have the original value of the asset left over. It took some time to accomplish it, but the car was purchased without any money from his own pocket or by decreasing his net worth. That’s a pretty cool deal, huh?

To summarize, the dollar is a currency and all currencies throughout history have eventually failed. To keep our currency alive and maintain it’s value, it has to flow, which means that saving it in a bank account isn’t the right thing to do. A better way to prepare for your future is to convert your money to assets that maintain their value and generate an income of their own. One such asset is a properly structured business, which in my case is in network marketing.

Just as a reminder, I am NOT a financial adviser. Go check out the books by Robert Kiyosaki, Donald Trump, and Loral Langemeier then find a good financial planner to help you decide what is best for you. Ask your financial planner if he or she is wealthy and if he or she got that way by doing what they are advising you to do. If they aren’t, then find another planner.

Wayne Woodworth
Network Marketing Entrepreneur

If your business doesn’t have a business plan then it is in your best interest to create one.

I heard about a study recently of 1600 businesses conducted over a 25 year period about how they used business plans. 70% of the businesses surveyed had no written or verbal plan of any kind, 27% of them had only verbal goals, and only 3% of them had their plan written down. What you need to know is that 98% of all the wealth in those 1600 companies was held by those 3% that had written goals.

Do you see how important it is to have your plan written down?

There are many reasons why a written plan is so effective. One reason is that the process of writing down your business goals actually forces you to think about them and clarify them. You have to know what they are so that you can write them down.

A written plan also gives you a place to go to reset your focus. Flesh out your plan with the specific actions that you are going to do to achieve your goals. Also keep your plan in a place where everyone involved in your business can see it and refer to it. It becomes the document that guides everyone’s actions and keeps everyone on track to accomplish your business goals.

Another way that a written plan can help your business is when you talk to potential partners and/or investors. A business with a written plan will appear much more professional than a business with no plan or just a verbal one.

If you would like to know how to create a simple plan, I recommend Loral Langemeier‘s The Millionaire Maker’s Guide to Creating a Cash Machine for Life book or her Building, Leading, and Protecting Your Business audio program.

Get your plan together so that you can join the 3% of businesses with 98% of the money.

Wayne Woodworth
The business man with the business plan

My wife and I spent the past three days as volunteer staff at Loral Langemeier’s Cash Machine Workshop in Atlanta and had an absolute blast.

If you don’t know who Loral is, then you need to find out about her now. She is the Millionaire Maker and she teaches people how to become millionaires in three to five years. She has several best-selling books, cd programs, a radio show and live events. Her remaining Cash Machine Workshops for 2009 are in San Francisco, Los Angles, and Seattle.

There are several people out there teaching people that they need to become financially independent and how to do it, so why is Loral the best? What really impresses me the most about Loral Langemeier is that she is real. She isn’t one of those seminar speakers who stays up on stage and never interacts with the people who paid to come see them. She uses the same door to enter the room as everyone else. She is on the floor interacting with people while she is teaching. If you have something that will help her business then she will work a deal with you right then and there because it shows everyone else how it is done.

She is also balanced. She doesn’t sacrifice her family to do these events. Her family travels with her as much as possible. She has a beautiful little daughter that came with her to our workshop in Atlanta. She’s a mom, a wife, and also happens to teach people how to build teams and become millionaires.

You can learn about Loral and her teachings by reading her books and going through her CD programs. The best way is to get to one of the upcoming Cash Machine Workshops. When you come, you have to be ready to play. Everyone at the Atlanta event made some amount of money. If you would like to talk to somebody about the best way to get started on your path to becoming a millionaire, then leave me a comment and a friend of mine who works with Loral will get back with you.

Wayne Woodworth

My wife, Michelle, doing 5 minute chair massage in the Market Place during the August 2008 Cash Machine Workshop in Atlanta

You hear all the time right now about unemployment.  People are going through layoffs, downsizings and rightsizings as companies seek to find a way through the current economy, or give up entirely and close their doors.

On the other hand, if you travel in small business / entrepreneurial circles, you hear people talk about being unemployable.  I’m not talking about people who have no skills and no ambition.  These are bright people with a lot of skills.  So why are they unemployable?

Because they choose to be.  They are of the mindset that they cannot be employed by another person because they have chosen to set their own course, take responsibility for their own results, and not allow any external agency to set limits on what they can accomplish.

I first heard this term in August 2008 at one of Loral Langemeier’s Cash Machine Workshops.  If you have never heard of Loral before I suggest you take a look at what she teaches.  She has come to be known as The Millionaire Maker and her best selling books are published under that title.  One of the things she teaches is that everyone should build a Cash Machine, a way to quickly make money with skills you already have.  Once you do that and have money coming in based solely on your own efforts and ideas you will understand what it means to be unemployable.

So, what are you going to do?

Wayne Woodworth
I’m becoming unemployable too.

You’ve heard about self-made millionaires before, right? Have you ever met one? Were they really self-made, as in they did it all by themselves?

I’ve been studying Loral Langemeier‘s programs again and she puts out the idea of team-made millionaires because you cannot really become a millionaire all by yourself. In reaching that point you will run into things that you don’t know how to do or things that are better left to others so that you can stay focused on making money. You need a team to take on those tasks, such as bookkeeping or cleaning your house, so that you can stay focused on the tasks you need to be doing. Besides, you are supporting other businesses in your area by hiring out those tasks.

I see this as a big problem in network marketing. To be successful we need to treat our network marketing as a business and teach our downlines to treat it as a business too, which means creating a team to take care of things so that we can spend our time prospecting and creating new business partners and selling our products or services.

For more business-related info, checkout by revenue modeling post at www.diversifymyincome.com.

Wayne Woodworth
Network Marketer
A home-based business is still a business

I spent 3 days last weekend at Loral Langemeier’s Cash Machine Workshop and it was the best seminar/workshop that I have ever attended. The days averaged 12 hours long but flew by.  I never even  once checked to see what time it was during the weekend except to make sure I returned from the breaks on time.

I learned of Loral from the movie The Secret where she appeared as a financial strategist.  During the seminar she said that she was taped for 5 hours for The Secret and only a few minutes of it was actually used in the movie.  We found her Millionaire Maker books and started reading her material. Her company is Live Out Loud and her tagline is “The Millionaire Maker”, hence the title of her books, The Millionaire Maker, The Millionaire Maker’s Guide to Wealth Cycle Investing and The Millionaire Maker’s Guide to Creating a Cash Machine for Life.

Loral teaches you to start creating money by using your fastest path to cash.  That is the idea behind a Cash Machine and the point of the Cash Machine Workshop.  You take skills that you already have and create a business around them.  To start off it doesn’t matter if it is something that you like to do or not.  You can do what you want to do later.  For now you focus on making money doing what you know how to do. Once the cash is coming in then you can learn new skills to do the things you want to do and build a new Cash  Machine.

She puts a lot of emphasis on building a team too.  You cannot keep your focus on what you need to do if you are spending all of your time on more mundane tasks like cooking and cleaning, unless those are things you like to do, in which case you might consider them as a basis for your Cash Machine.  In your new business you also want to dole out the more mundane or specialized tasks like making phone calls, bookkeeping, or tax preparation so that you can focus on growing your business.  You Cash Machine needs to be in an entity, like an LLC or a corporation so that you can get the full tax and limited liability benefits.  You will probably need to find an expert to create your entity.

We were expected to make money while at the seminar.  The first day was about what a Cash Machine is and anyone who didn’t already have one was supposed to figure out what theirs was by the end of the day.  Once we knew what our Cash Machines were we had to figure out what we wanted to sell during the Market Place on the third day.  The rest of the seminar was dedicated to building the Cash Machine through marketing to generate sales, joint ventures, and referrals.  An hour and a half of the third day was for the Market Place where we were to practice and refine our pitch and sell our product to the rest of the room.

For us, we went in knowing what our Cash Machine is.  We split it up so that Michelle sold 5 minute massages for $5 and I sold Nikken’s magnetic insoles for $60.  Loral told us that if we knew what we were selling we should start selling immediately.  Some people made money during the first break on the first day.  We took in our massage chair on the second day and got started making money.  Michelle worked during breakfast and lunch doing 5 minute massages while I talked to people about sore feet.  She never got a break only got to eat during the dinner break.  It went pretty well for both of us as we deposited better than $500 in the bank once we got home.  One person at the seminar said he made $6000.  That’s pretty darn cool.

She offered Cash Machines in a vendor expo area for anyone that had trouble coming up with one on their own.  One of them was a facilitator program for her Millionaire Maker board game.  We have a copy of the game and have played it several times just the two of us.  On Saturday night at the seminar we got to play the game in groups of six, which was a whole different experience.  On one hand it was a little disappointing because I was the only one at my table who had played before so it went pretty slow as everyone else figured out how to play.  On the other hand I saw how fun it can be when I get the opportunity to play with a group of people that know how to play.

As a facilitator for the game we will be able to hold our own game nights and invite others in our area to come play.  If anyone likes the game and buys a copy we can make up to 50% commission on the sale.  They also will teach us how to sell the rest of her programs and events, and that training will care over on how to sell our products effectively.

If you see the value of a Cash Machine and would like to take a look at mine then see my Nikken network marketing opportunity.