By Alexander Green of InvestorPlace
NEW YORK (
) -- I receive thousands of questions from readers each year. But there's one that I've never been able to answer satisfactorily:"How do I get more money to invest in your recommendations?"
My traditional answer is, "Work harder, spend less, and save more." As generic advice goes, it's not bad. But it doesn't change lives.
Michael Masterson does, though, and that's why you should get to know him.
Michael Masterson: Your Own Personal Time Manager
Masterson is one of the wealthiest and most successful people I know. He's launched dozens of businesses in several different industries, some of which have grown beyond $100 million. (One has grown beyond $300 million.)
He's too discreet to tell you this himself, but he has fabulous homes and offices all over the world. Standing on the back patio of his oceanfront home one day, I told him the word spectacular is overused. People should save it for special occasions, like when they're looking out at his view of the Pacific coastline.
Masterson is the real deal -- an astonishingly successful businessman who now devotes most of his business life to mentoring others.
In my last book, "The Secret of Shelter Island," I confessed that I could never have completed my first book -- which went on to become a
New York Times
bestseller -- without his help. No, he didn't help write or edit it. He showed me how to create the time to do it myself.
At the time, I was drowning in trips, meetings and deadlines and was about to actually mail my advance back to the publisher, Wiley & Sons. "I'll do it later, when I have more time," I reasoned.
Masterson recognized this for the cop-out it was, and showed me exactly how to create the time to realize my most important goals. This came back to me a few days ago as I was reading Michael's superb new book - "The Pledge: Your Master Plan For An Abundant Life."
Why Masterson Encourages Accelerated Failure
I practically wore out a highlighter in the first 100 pages. You'd have to work and struggle for years to gain the actionable insights he shares in these pages. Let me give you an example.
He is a big proponent of failure. In fact, he advocates
. If this kind of advice goes against everything you think you know about business, it underscores how unconventional his approach is and reveals that his advice is anything but generic.
Masterson's goal is to show you how to succeed, of course. But there are several reasons why he encourages accelerated failure.
- Every business venture involves risk and some risks simply won't pay off. That's OK.
- Most people suffer from analysis paralysis. Planning is great, but too much is evidence of fear, not prudence. Masterson encourages you to stop peering off the high dive and lean forward.
- Some marketing ideas work. Others won't. But rather than sitting around theorizing about what will and what won't, start testing. If something works, great. It if doesn't, modify it or drop it. Then try again.
- You'll learn more from your failures than your successes as a business owner. So start taking action.
And if you say you don't have the capital or experience to start your own business, he disagrees.
A Lifelong Mentor for $16
Masterson came from a humble background, started with nothing and had no personal mentor to show him the way. He learned the old-fashioned way, through trial and error.Now he's dedicated his life to sharing his experiences, showing you how to succeed in businesses that require little or no money upfront. The alternatives are either staying stuck where you are, or having to learn everything the hard way. Neither is terribly appealing.
I know dozens of people who say Masterson didn't just help them, but changed their lives. (My friend and colleague, Steve Sjuggerud, Editor of
, told me that his income increased tenfold within two years of being mentored by Masterson. Sjuggerud went from having an income problem to an income tax problem.)
Unfortunately, it's not possible for Masterson to personally mentor everyone. But "The Pledge"iis the next best thing. Masterson doesn't just challenge you to achieve what you really want. He reveals the specific concrete steps to make it happen, whether your goals are health, wealth, happiness or all of the above.
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You can't put a price on this kind of knowledge. And I don't know anyone who wouldn't benefit from reading this book.
As for future readers who ask me how to get the money to buy my investment recommendations, I've already told my editors to send them three words of advice: Read "The Pledge."