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From: Thriving Business <newsletter@thrivingbusiness.com>
Date: Wed, Feb 6, 2013 at 6:30 PM
Subject: Part 2: Your Journey to Financial Freedom
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From: Thriving Business <newsletter@thrivingbusiness.com>
Date: Wed, Feb 6, 2013 at 6:30 PM
Subject: Part 2: Your Journey to Financial Freedom
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Issue # 162 - February 6, 2013
Dear Reader,In yesterday's issue, I introduced my friend Chris Wise and the first part of his article on obtaining funding for your business. I had the pleasure of meeting Chris a few years ago when we both attended a Thought Leaders Summit. The methods that Chris teaches about getting business funding fascinated me. Since Jynell and I keep getting lots of questions from our subscribers on how to get funding for a small business, I reached out to Chris again to ask him to share his expertise. We are always working hard to seek out industry experts to give you the answers you've been looking for. In today's Main Essay, we have included part 2 of the article by Chris Wise on getting funding for your business. (If you missed part one, just look for yesterday's email, or find the article on our blog). In the Check It Out section, you will learn about a complimentary funding strategy session that Chris is offering to help you find the fastest way to acquire funding for your business. So, please make sure to sign up for your free funding strategy session so you can take advantage of this unique opportunity. We hope you enjoy this issue of the Thriving Business Newsletter. Cheers, Denise Gosnell Publisher ThrivingBusiness.com Inc.
Part 2: Your Journey To Financial Freedom
By Chris Wise (Continued from Issue #161 of the Thriving Business Newsletter). Four Ways to Access Money There are only four ways to access capital: 1. Borrow it - You can borrow the money from another person, usually done in the form of a promissory note. You can borrow the money from a bank in the form of a loan or line of credit. Typically, when you borrow money from other people it is called debt. 2. Exchange it for Equity - You can receive money in exchange for ownership in a company which is also known as equity. 3. Production - You can earn the money by exchanging dollars for hours or by creating a system that produces value for other people that is then exchanged for money. 4. Stumble upon it - Lastly you can receive it from an inheritance or win it in the lottery. These are the only four legal ways for anyone to access or receive money. And don't bet on the last one. I have studied and used the first three methods in my life and what I have discovered is that borrowing money has been, by far, the easiest way that I have ever found to get access to capital. The traditional method of explaining these two different types of debt is good debt and bad debt. Good Debt – Any money borrowed that is invested into an asset that increases in value or produces a profit greater than the interest of the money borrowed. Example: Real Estate. Bad Debt – Any money borrowed that is used to purchase things that do not increase in value or do not produce a profit greater than the interest of the money borrowed. Example: A vacation or food. We want as much access to capital as possible so that we can purchase as much good debt as possible. For example, let's say that you have access to $100,000 at 10% interest per year. You take that $100,000 and invest it into an asset that makes you a 30% return per year. The money borrowed will cost you $10,000 in interest per year. That year, you will make $30,000 from your investment minus your $10,000 of interest, netting you $20,000! Let's take another look at borrowing money to invest. Let's say that you have three solid investments that you have checked out and you know that they all have the potential to make you a lot of money. Then, I introduce you to a friend of mine who has an unlimited resource of cash and, because you are my friend, he will let you borrow as much money as you would like. How much money would you borrow from my friend? When I ask this question of people it gets them to break their patterns of thinking about borrowing money and almost everyone I ask says, "I would borrow as much money as possible." Why is this? The main reason is because when most people think about borrowing money they don't realize that subconsciously they begin to think about losing that money if they do anything with it. Then they allow that fear to paralyze them into non-action and not leverage the financial resources that are available. So what is the cure for the paralyzing fear? 1. Awareness – My mentor, Harv Ecker, has a great model for explaining people's comfort level with money and how much they feel they deserve to have in their possession. He calls it their Money Blue Print. I have created a similar scale that I call the Debt Tolerance Scale (DTS). This scale allows us to calculate our Debt Tolerance Number (DTN). The DTN measures our comfort level with how much money we feel comfortable borrowing or leveraging before we fall into paralyzing fear. The scale is measured in millions. Let's say that the maximum amount you would feel comfortable leveraging is $200,000: you would have a .2 DTN. If you would be comfortable leveraging 5 million dollars then you would have a DTN of 5. The higher your DTN the greater your ability to leverage financial resources. The greater your ability to leverage financial resources the quicker you can create wealth. Would you like to find out what you DTN is? Go to www.CreditLineMillionaire.com/DTN to get your free assessment. What do you think Mr. Trump's DTN is? I really enjoy the story he tells when he was going through one of his toughest financial times. He was walking down a street in New York with his assistant. He pointed to a homeless person on the street and he says, "That person is worth 900 million dollars more than I am." Think about that for a minute. One thing Mr. Trump had that the homeless person didn't, was a powerful mindset about money and the knowledge to acquire more funds. He later turned around his financial empire by borrowing more money and regained his billionaire status. 2. Learn how to Wisely Invest - My friend Garrett Gunderson in his book Killing Scared Cows has a great perspective on debt, "Debt is simply the negative difference between liabilities and assets. It's having more liabilities than you have assets on your balance sheet, and the difference between them." So, to put it another way, if you invest borrowed money from a bank into an asset that is worth more than the money owed, you don't have debt. You have a liability and an asset that has a greater value. With this definition of debt, when you borrow money and invest it into an asset that has a greater value than the money borrowed you don't have debt, you just have a liability. I call these types of assets Leveraged Investments. This is where knowing how to wisely invest becomes so critical. When you know how to Wisely invest, then the money borrowed can be used to create a great amount of wealth. Creating Money From Thin Air So, how do we go about accessing capital? One of my favorite ways of acquiring funds is by leveraging credit. Credit is my favorite way because it doesn't really exist. It isn't tangible, you can't touch it, yet I have control over what my credit looks like and how it is structured. There are three main types of credit. Your own personal credit, business credit, or other peoples credit (OPC). Through each of these avenues you can access hundreds of thousands, even millions, of dollars. 100's of Banks Did you know that there are 100's of banks across the country who want to lend you money? Did you know that they have at least $25,000-$100,000 that they will lend to qualified borrowers? Think about this for a second and let's take the minimum of 100 banks and $25,000 per bank. Do the math. How much of that would you like? The Three keys to the Vault The money is there and when you learn the three keys to the money vault there is no limit on how much money you can access. 1. Who to ask – This is knowing the right banks to ask. There are, in fact, thousands of banks across the country: 7,540 according to the FDIC, the federal institution that insures the banking industry. However, only a small percentage of these banks have the types of loans that we are looking for. Don't waste your time trying to figure out which are the right banks to talk to, go to a source that already knows this. 2. What to say – These are the words that you speak. The words that you speak have a huge impact on whether you get the money. 3. How to present yourself – This is more than the level of confidence that you have or how well you dress. This has to do with how you fill in the blanks on the bank application. How well you present yourself on the application to the bank is critical and will determine your success or failure in acquiring capital. Becoming a Master Borrower No matter what you do in the future, no matter what business you start or what you invest in, it will require capital. Decide right now to become a master borrower. What does becoming a master borrower mean? The Power of Mentorship For Creating Wealth 1. Pay your bills and liabilities back on time. 2. Know how to structure your personal and business credit to look strong to lenders. 3. Know how to properly leverage the money borrowed. 4. Know how to manage cash flow and loan payments. 5. Know how to structure your business to be bankable. When you make becoming a Master Borrower a priority in your life, there will be no limit to the amount of capital you can access. The Future of Creating Wealth The principles I have shared with you are timeless. 1. Get Access to Capital. 2. Invest it Wisely. If you apply the principals of the master borrower and make a commitment to putting the two foundational building blocks essential for your long term growth into play, then, no matter what economic environment you find yourself in and no matter what your current financial condition, you will be able to rise to the top and create any amount of wealth you desire. Would you like to learn how to get the money you need? Whether you need capital now or know you will at some point in the future, right now is when you want to become a master borrower. Go to my website www.CreditLineMillionaire.com for a free report on the 10 Wise Points to Investing. Here you will learn more about the other foundational building block to reach any level of wealth you desire. When you go to my website I will also send you my audio of "The 10 Money Killers". Before you give up and think that you have to have perfect credit in order to become a master borrower, I have good news for you. I can help you access large quantities of cash. Now, perhaps for the first time ever, there is no reason you can't have the cash that can turn all your dreams into a living reality. Let me show you the money - Now! To get your complimentary consultation with a certified funding strategist, click here. Chris Wise is the founder of Wise Profits, a conglomerate of companies providing small to medium sized businesses a full suite of services and solutions for their most critical needs to succeed and thrive. Their services include funding, outsourced sales, marketing automation, product creation, lead generation, and leadership systems.One of Chris's Systems, The Wise Money System, has been recognized as the most effective and successful way for small business owners to acquire funding, up to $100,000, in the nation.
Your Thriving Business Assignment
Here are some of the core strategies that Chris Wise shared in today's Main Essay:
1. There are only four ways to access capital. You can borrow it, exchange it, produce it, or stumble upon it. 2. There is good debt and there is bad debt. Good debt is the kind that is borrowed and then invested into an asset that increases in value or produces a profit greater than it costs to borrow. Bad debt does not increase in value or produce a profit. Always strive to acquire good debt and avoid bad debt. 3. You can create money from thin air by leveraging credit. 4. Learn how to structure your personal and business credit to look strong to lenders. 5. Get access to capital (even when you don't need it), and then invest it wisely.
Check It Out!
Are you ready to obtain more funding for your business?
Here's what Chris has put together for you:Well, I have some great news for you today. Jynell and I have convinced my friend Chris Wise, the funding guru, to offer a special funding bonus to our loyal subscribers.
This free consultation and training is worth well over $1,000. So make sure to sign up for your today!
Look What Others Are Saying
I love your encouragement! I also have to thank you for suggesting that we check out FreeWebSite.com. I'm happy that I did. We finalized moving the domain name today. They have been very helpful and I am looking forward to seeing my new website!
Regina Share Your Thoughts
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Jorge U. Saguinsin
To "be the best, do your best, expect the best" always
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