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When will you begin to think and talk differently about money? Are you having conversations about the possibilities and not the roadblocks to financial freedom?
Have you started
building your team? I hope so! Remember, you need to learn to earn if you are to generate an endless supply of income. You must change your focus from debt to one of creating cash. And above all, you must take action.
The "Wealth Cycle" is my proprietary system for wealth-building that I wrote about in my first two books,
The Millionaire Maker: Act, Think and Make Money the Way the Wealthy Do
The Millionaire Maker's Guide to Wealth Cycle Investing
. It is a system of generating cash through a self-perpetuating cycle of assets and income.
Wealth-cycle investors put money into
assets directly, without paying middlemen or broker commissions. These assets generate double-digit returns that are then invested in more assets. And it all starts with your "Cash Machine." This is what drives the cash you need for building your assets.
The Cash Machine is a legally structured business entity that uses your skill sets to generate more money now. It is modeled after a similar successful business, using a team to support you along the way. Often Cash Machines are launched in weeks, sometimes days, with cash flow available immediately to fuel your Wealth Cycle.
Why do I place such an emphasis on creating a business -- a Cash Machine -- as a way to enter your Wealth Cycle? Think about it this way.
Think of a really wealthy person. What names first come to mind? Bill Gates, Steve Jobs and Larry Ellison, to name but a few. Of course, there are many others not in the public eye, but what's the common denominator? They all started their own businesses. They were entrepreneurs. Entrepreneurship surrounds us. New businesses, and the entrepreneurs who create them, are the very pulse of wealth all around the world.
The moral of this is that the path to stunning financial success -- to building your wealth -- comes from creating your own business, your own Cash Machine. Unlike traditional entrepreneurship, the Cash Machine is simple to start and sustain. Once you define your skill sets, do your research and build your team; you are on your way.
And this doesn't necessarily mean giving up your day job, although almost everyone who begins their wealth-cycle plan soon realizes that the time spent leading his or her wealth is far more valuable and makes them far more money. There are many in our Live Out Loud community who, even with full-time jobs and family responsibilities, work the hours calculated for their Cash Machine plans and make the money they desire. Yes, you can keep your day job and build a cash machine on the side.
I've helped countless people make the leap from employee to entrepreneur.
Teachers who opened tutoring businesses. Cooks who opened their own catering companies. Human-resources managers who opened staffing agencies. The list goes on and on.
Everyone has skills he or she can use to make more money. All you need is a dream, an idea, the commitment and a Wealth Cycle plan. It's all about creating a healthy, fun, "want-to" life with a wealth and spending plan, not a savings and budget plan.
It's about Freedom Day goals and plans for prosperity; not retirement restrictions, because that is just a plan for poverty. The Cash Machine is the building block for becoming a millionaire and living the life you always wanted. But you must get into action.
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A master coach and financial strategist, Loral Langemeier has proven how consumers and businesses can create wealth from the inside out. As author of "The Millionaire Maker" and "The Millionaire Maker's Guide to Wealth Cycle Investing" and director of Live Out Loud, a financial coaching and mentoring company founded in 2000, Langemeier has become one of the most successful business and financial speakers in the country.