The Wealth Builder's Blueprint

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Copyright Copyright 2005 Trump University. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic, mechanical, recorded, or otherwise, except in the case of brief quotations embodied in critical articles or reviews, without the prior written permission of the publisher. Information Only — Not Legal or Financial Advice This Program is designed to provide general information regarding the subject matter covered.This information is not intended to serve as legal, personal, business, or financial advice related to individual situations. We have taken reasonable precautions in the preparation of this material and believe that the information presented in this material is accurate as of the date it was written. However, we will assume no responsibility for any errors or omissions. We specifically disclaim any liability resulting from the use or application of the information contained in this program.

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Welcome to the Wealth Builder's Blueprint
Congratulations on your decision to invest in The Wealth Builder's Blueprint. Your commitment to your education is the most powerful asset you can own. Through this program, that commitment will be harnessed with an extraordinary body of knowledge and wisdom. At this moment of beginning, you are likely to be enthusiastic, optimistic and dedicated to making the program work. What will it take to sustain that energy? One of the presenters you will hear, Dr. Stephanie Burns, reveals that about 80% of adults who select a major goal fail to attain it, because they fail to take the action required. She explains why this happens, and how to beat the odds. What is your decision? Will you be one of the majority that dreams and fails? Or one of the 20% that acts and succeeds? All the tools to make you a winner are in this box, except your determination. That part is yours. You need high ambition, and you need realistic expectations. As Donald Trump has written, "Your mind can build castles — just make sure the foundations are in place first." The Wealth Builder's Blueprint is a 90-day program. This does not mean you will get rich in 90 days, It means you can change the course of your life, and your thinking, so that you are headed in the direction of wealth creation. How you start a journey may be the most important element of it. The direction you select, the equipment you take with you, and your knowledge of the road ahead are the three critical factors. These are the focus of The Wealth Builder's Blueprint. The good news is, once you are fully on the road, you will tend to stay on the road. As you will learn later, human beings have a natural tendency to keep doing whatever they are doing. There is much fun to be had on the journey to wealth, and we hope you enjoy the mix of instruction, stories and activities in this program. Ear more important, we hope you stay the course when the going gets a little rough, and hold firm to Donald Trump's advice, "Never, ever give up." Then you can look forward to the even greater fun of attaining your goal — financial freedom. Led and inspired by Mr. Trump, a large team of experts, some visible, some behind the scenes, has worked intensely for many months to create The Wealth Builder's Blueprint We are all rooting for you.

All the best!

Table of Contents

Introduction
Getting the Most out of

The Wealth Builder's Blueprint

1 Meet Your Presenters 2 Mindset for Success Dr. Stephanie Burns 3 Money Mastery Diane Kennedy, CPA 4 Powers of Persuasion Dorian Gallo 5 Career Champion Les Hewitt and Chris Lewis 6 Own a Business — and a Life Jeff Burrows 7 Money While You Sleep Dr. DoIf de Boos Appendix
Master Plan Checklist

or move faster. This is where the action is. The Workbook is the journey itself. which is designed to set the context. It is up to you to make a plan that works for you. The method of education here is learning by doing. The Wealth Builder's Blueprint is organized to help you. tips on how to complete it effectively. There are no action steps for the first module. and success comes from action. And if you move too fast you will cut corners and fail to fully integrate the information. there are 12 action steps. For this module. and there is a section at the end of the Workbook to help you do this. and of course you can take longer. For each of the content modules. there is a lot to learn. It is designed as a "90-day" program. you will lose momentum.How To Use This Workbook Trump University teaches success. If you take too long. It is important that you manage the process in a systematic way. the Workbook provides transcript excerpts from the audio CD to help you fully absorb and integrate the information. and a page where you record what you have learned. however. Mindset for Success. guidance and inspiration for your journey. The Action Steps The core of the Workbook is a series of action steps. The DVD and audio CDs provide essential information. Set Your Pace In this program. . and a lot to do. and move at a pace that pushes you a little and at the same time fits in your life. Every step comprises instructions.

There are two introductory elements. The second and third times may seem more like work.The Structure of the Program Here in more detail is how the program is structured. such as Money Mastery and Money While You Sleep. You can give yourself some freedom here. Spend about a week with the introductory material — the DVD and the Mindset for Success audio — and two weeks on each content module. Then spend a week to review. and five content modules. the second and third times are essential — these are when you set a pattern for life. Select the module that is most essential to your ambitions and spend 90 days with that module. The second time could be less appealing because the novelty has gone and you already know what difficulties you may face. An effective approach is to spend the first 90 days on a tour of the entire program. the first time you do an action step may seem intriguing or exciting. Likewise. However. The first time you watch the DVD or listen to an audio CD will probably be fun. do not move to a new module before you have spent at least two weeks working on the one before it. you will have completed one or two introductory action steps. At the end of three months. For each topic. you will have a new level of competence and confidence in all the subject areas. If you choose this path. Now is the time to go for depth. Repetition Can Make You Rich Probably the single most important principle is that for success with this program you must repeat and review. This is where the real learning happens. . You may wish to combine related modules. as you will be pausing to take notes. Each content module in itself provides enough material for about 90 days. more like entertainment.

It is the foundation for everything that follows. I don't need to write it down. consistently and frequently. there will be a huge difference in your level of retention according to whether you documented your progress or nat. The level of your "financial literacy" will largely determine the level of your future wealth. follow the sequence of the program. Third. no matter what your profession or sphere of action. Writing your report is the most powerful way to maintain accountability on your own. This is the material that can guide you into being a "onein-fiver"— one of the minority of adults who act on their goals. At the time. Follow the Sequence Lastly. Secondly. Fourth.Why Write Another essential principle of this program is: Document your progress. First. several times. As you develop skills in persuasive communication. The Workbook is structured like a journal. everything you do. Second. you are your own coach for the program. this is essential preparation. you may feel 'I know what happened. Again. Every time you take an action step. primarily for the interview with Donald Trump. spend at least two weeks studying Money Mastery with Diane Kennedy. . with Dr.' Months and years later. though. It is there for a reason. Read the transcript excerpts and listen again. There are two reasons for this. Stephanie Burns. This will give you the biggest possible picture of wealth creation and establish the vision and inspiration that will help carry you through. watch the DVD. listen to and study the audio CD Mindset for Success. documenting your experience and observations imprints the learning on your brain. study Powers of Persuasion. will be massively more effective. you will record what you learned from it plus some specific observations related to that topic. First. with Dorian Gallo. so you have to hold yourself accountable for completing the actions.

Now you have a fork in the road. The two next modules are Career Champion with Les Hewitt and Chris Lewis and Own a Business — and a Life with Jeff Burrows. The first is about generating wealth by achieving outstanding success in the corporate world. The second is about creating financial freedom through owning a business, If you are a corporate employee, study Career Champion first, and concentrate your attention here. If you are an entrepreneur, go straight to Own a Business — and a Life. In both cases, however, you should study the other module in addition, For entrepreneurs, there is a great deal to be gained from a deeper understanding of the corporate world. And for corporate employees, adopting the mindset of the entrepreneur is one of the keys to success. Finally, study Money While You Sleep with Dr. Doff de Roos and learn how to generate unlimited passive income through real estate investment. Because of the promise of wealth that real estate brings, you may be inclined to "cut to the chase" and go here first. Resist the temptation! You will be far more successful as a real estate investor if you first know: • How to keep acting on your goals, no matter what happens in your life • How to understand, manage and protect your money • How to persuade other people so you can achieve your results • How to make a resounding success of your career and/or your business So keep to the sequence!

Help On The Way
As you will understand, we cannot provide individual coaching to the many thousands of users of The Wealth Builder's Blueprint. However, we encourage you to communicate your questions to us. On our web site, www.WealthBuildersReports.com, our experts will periodically answer the most pressing and commonly asked questions, Send your questions to info@WealthBuildersReports.com

Credits
The Wealth Builder's Blueprint
Designed and produced by Concept and creative direction Educational consultant Graphic design Photography Production management Editing and coordination BrandWithin Inc, Phoenix, Arizona James Burgin and Jon Ward Dr. Stephanie Burns Mingoo Kang Mark Burgin Diane Zoller Marnie Eastburn, Pauline Abel, Claire Nassano

Donald Trump Speaks DVD
Produced by Directed by Interviewer Executive producer Theme music Photography Graphic Design Script writer Editing BrandWithin, Inc Sharri Weinberg Jon Ward James Burgin John Costello III Mark Burgin Mingoo Kang Jon Ward Sharri Weinberg, John Wroble

Audio Programs
Creative direction and interviews Sound engineer and editor Producer Jon Ward Craig Quist James Burgin

Special thanks
Andrea Ward, Ken Burgin, Peter Johnston, Suzi Dafnis, Derick Brunette

James Burgin
Producer of The Wealth Builder's Blueprint

James Burgin acquired his mastery of branding, product design and marketing as a successful retailer and marketer in Australia and the Far East. In 2001 he relocated to the United States where he launched BrandWithin, a branding and marketing consulting company. He quickly built a core clientele of high quality educators such as Robert Kiyosaki of Rich Dad fame and Adam Ginsburg, a leading eBay marketer and educator. With degrees in both industrial design and natural medicine, James today is continuing a personal mission to "make things easier for people" in every dimension of their lives.

Stephanie Burns Diane Kennedy. What's more. DoIf de Roos Jon Ward (interviewer) . These downloadable documents can be accessed by visiting WealthBuildersReports.com Dr.Meet Your resenters A team of outstanding experts has joined forces with Donald Trump to provide you with this action-based education in wealth creation. On the following pages. you can learn more about each of your presenters. CPA Dorian Gallo Les Hewitt and Chris Lewis Jeff Burrows Dr. you can obtain from each of them a Free Special Report exclusively written for users of The Wealth Builder's Blueprint.

she committed herself to academic research and earned a PhD in her chosen field. Burns has applied her methodologies to a wide range of activities. natural horsemanship and learning musical instruments. Download it now at WealthBuildersReports. Burns is What You Never Learned About Learning. winning athletic competitions and creating wealth. This work has provided an unprecedented insight into why otherwise successful adults fail to sustain action when it comes to important goals — goals like getting healthy. She is the author of several books including Great Lies We Live By and Move Closer. Stay Longer. Your free Special Report from Dr. communication skills. a breakthrough study of fear and courage.2 . After decades in the field as a trainer and author. which include training technologies. Dr. Stephanie Burns has devoted her life to achieving a greater understanding of human behavior in the fields of adult learning and goal achievement.Dr.com Meet Your Presenters 1 . Stephanie Burns Mindset for Success Dr.

speaker and educator. Your free Special Report from Diane Kennedy is Now to Choose a Great Accountant Download it now at WealthBuildersReports. Diane is the author of several bestselling books. their businesses and their tax management. including Loopholes of the Rich— bestsellers of The Wail Street Journal and Business Week. Bloomberg TV and CNBC. the language and fundamental principles of money. She is known to television viewers around the world through her appearances on CNN.3 .com Meet Your Presenters 1 . She is a highly successful accountant and tax strategist and well-known author. in a practical way. She has devoted her career to teaching people how to be successful with their investments. Diane is a powerful advocate for what she calls "financial literacy" —the ability to understand. CPA Money Mastery Diane Kennedy specializes in the creation and protection of wealth.Diane Kennedy.

start-up enterprises and non-profit boards. Your free Special Report from Dorian Gallo is Now to Ask for Money Download it now at WealthBuildersReports. including Dean Foods. Dorian has served as a coach and mentor to individuals. Dorian has used her approach of persuasion to create and grow businesses in the USA.4 . Throughout her career. which has earned her the right to increasing levels of responsibility within the corporate world. She has consistently exceeded her financial targets. Blyth Industries and The NutraSweet Company.com Meet Your Presenters 1 .Dorian Gallo Powers of Persuasion For almost twenty years Dorian Gallo has held sales and marketing executive positions at several billion-dollar companies. Asia Pacific and Brazil and to bring major brands such as Diet Pepsi and Marie's Dressings to new markets.

Chris has a keen sense for competition.corn Meet Your Presenters 1 . Les understands the tremendous pressures of corporate life and what it takes to stay focused on results. are creators of the worldrenowned Chicken Soup for the Soul series. rising at a young age to senior management in the highly demanding energy industry. His co-authors. Personal and Financial Targets with Absolute Certainty. Personal and Financial Targets with Absolute Certainty.Les Hewitt & Chris Lewis Career Champion Les Hewitt is known to thousands of readers through his book. Chris Lewis works with Les Hewitt to bring his methodology to corporate managers and employees throughout the world. His passion is coaching and he has founded an international coaching and training organization. Jack Canfield and Mark Victor Hansen. As a former professional football player. Download it now at WealthBuildersReports. team building and playing to win. also called the Power of Focus. He carved out a successful career in the corporate environment. As a business leader himself. Your free Special Report from Les and Chris is The Power of Focus: How to Hit your Business.5 . The Power of Focus: How to Hit your Business.

He also leads a group of certified E-Myth consultants. Jeff's coaching career has spanned over twenty years. After meeting Michael Gerber. He coaches business owners on how to get "more life" as well as more money from their enterprises. the famed author of The E-Myth. counseling individual leaders of small to mid-sized companies.Jeff Burrows Own a Business .and a Life Always an entrepreneur himself. Your free Special Report from Jeff Burrows is Strategic Diagnostic for Business Owners Toolkit. and in the investment banking world. Download it now at WealthBuildersReports. Jeff Burrows has had successful careers in business radio and television. he started on a new path as a teacher and coach to business owners.6 .com Meet Your Presenters 1 . Jeff is an advocate for others achieving their own dreams and serves as an E-Myth Master Coach to small business owners. He shows his clients how to find lasting success with his Timeless Secrets of E-Myth Leadership Program. Today. and how to capture that most coveted of entrepreneurial prizes: freedom.

Your free Special Report from DoIf de Roos is What Makes a Good Deal Good Download it now at WealthBuildersReports. He has also introduced proprietary software for analyzing and managing investment properties.7 . speaks six languages and holds business interests inside and outside the United States. Doll has written five real estate books including The New York Times bestseller.com Meet Your Presenters 1 . In the late 1990's he launched his own property investment company. his primary focus remains to this day the real-world business of real estate investment. Doll is frequently asked to address investors' conferences and to make radio and TV appearances.Dr. DoIf de Roos Money While You Sleep Born in New Zealand. Real Estate Riches. Nevertheless. Doll de Roos attended school in a several countries. and today its holdings range from high-rise apartment buildings to high-end vineyards.

and for Reuters.8 . Your free Special Report from Jon Ward and James Burgin: The Making of The Wealth Builder's Blueprint Download it now at WealthBuildersReports.com Meet Your Presenters 1 .Jon Ward Interviewer and Writer Jon Ward's first years in business were spent writing advertising copy for Pentagram. Today Jon's primary focus is developing interactive tools for entrepreneurs and corporate marketers. he became co-owner of a highly profitable boutique marketing and advertising agency. the global provider of news and financial information services. Soon after moving to the United States. England's most prestigious graphic design company. including the Action Marketing System with co-creator James Burgin.

Mindset for Success Dr. Stephanie Burns Talks About Goal Achievement Excerpts adapted from the audio CD .

They buy it with enthusiasm. You are being exceptional if you continue. frustrated or physically distressed. everything falls apart. Research shows that human beings have a natural tendency to avoid things that bring discomfort.The Challenge: Taking Action on Goals ortnany. Stephanie Burns 2 . They are not terrible. What tends to happen is that people are excited about the product and therefore are motivated to buy it. That means your brain has to know things it did not know before and be able to do new things it can not do now We have studied how adults feel when they are learning something new 90% of the time when adults describe how they feel when they are learning.yOrs I have been dedicated to helping adults achieve the 661s:11i:4:want to reach. In other words. Let us say you are a competitive swimmer committed to training every day. confused. You will notice that there are many books and programs on the market that deal with wealth creation. These CDs include a number of action steps that are to be implemented by you in the real world. they report a negative effect. you might find most of those activities are just not fun. and exactly the same kinds of issue will arise for users of The Wealth Builder's Blueprint. They start reading and once they realize the actions they have to take. with The Wealth Builder's Blueprint we are giving you a series of audio CDs by competent experts. The reason is that wealth creation requires new knowledge. it is more common for us to fail at a goal than to achieve one. Once the reality of listening to the first CD. Now as Mindset for Success I Dr. the average adult today reads only 11 or 12 pages of any business book they buy. It is actually normal to quit. I have found that when adults choose important goals like wealth creation. but they are not especially enjoyable.2 . In fact our research shows that between 75% and 85% of adults self-selecting the most important professional and personal goals are failing to achieve them. they are all excited about the end goal. When adults learn. studying it and then taking action kicks in — well. In fact. they are most often bored. only a minority will reach their goal. and then they open the book. So people tend to stop. How do you actually make the decision to get out of bed in the morning and go to the pool — when the water is cold and there is a risk of being kicked in the head by another swimmer? Those are the kind of real-life challenges that interest me. and yet we do not see many people being able to absorb that knowledge in such a way that they can utilize it in their lives. This suggests that something is happening at the biological level. For example.

That is the biology of procrastination. Alternatively. And of course the answer that comes back is "No. "just do it. our brain will do whatever it takes to help — that is." makes an amazing connection to human behavior that accurately represents how people get things done. and there you are lying in bed. The good news is we naturally have three core strategies for overcoming our tendency to stop. or more money. Being confused or frustrated is normal and natural in learning. and it works. you will keep doing whatever produces that. If you have more time in your day. your brain will produce a full-body experience of what it is like to take this action you are trying to avoid. all warm and toasty. the single fastest way your brain can save you from being distressed is to stop you from doing whatever you are doing. when we are under distress. If you do not have a strategy that makes feeling bad okay. or mental strategy that says being bored is not a good enough reason to stop. to get us out of distress. or less stress. we will tend to go on using it. and it is cold and wet outside. biologically. The Three Strategies for Effective Action In order for us to do things that are discomforting. imagine you have committed to going for an early morning jog. "Do I feel like doing it?" because as soon as you ask that question. For example. And in learning. Stephanie Bums 2 . The second strategy for doing something uncomfortable is: do think — but in a very specific way. The first is: do not think about the action in advance. "Do I feel like going out for a jog?" — the obvious answer is "Forget it!" But if you start to think about how good it feels to have done the jog. The worst question you can ask is. we must have a mindset.humans. as soon as they have a better choice — something that creates a more positive feeling or produces a better result—will select it above all others from then on. think how bad you will feel later if you do not. The Nike slogan. Most adults. So here are the three strategies for getting in action.3 . Think about how good you will feel to have completed the task. you will abandon almost any learning goal you set. If you ask yourself. or how good it will feel to tell your friend you Mindset for Success I Dr." So do not think — just do it. And once we use one of these strategies.

and because we want to make it "fun" and we do not believe adults will read. almost a mantra.." The notion of making learning fun kills off the whole opportunity to learn. then it is not occurring. My message is learning that is rigorous needs to be big and needs to be what it is." What you have to know is there is nothing. in the act of reading that makes information memorable. Many adults have the notion that somehow learning just happens. they have an interesting belief that they should remember what they read. I would challenge you to think about the significant and important things that you have learned in your lifetime and really reflect on what that process was. the best book in the world about leadership. you have to work.krgegy is just start.4 . or even how good it feels ten minutes after you start running„you are far more likely to take action. And typically. tell yourself: "I am going to start. In most cases. "Reading is really frustrating for me because I never remember any of it. that was fraught with anxiety at times. that it no longer has meaning. we take a marvelous 400-page book. Stephanie Burns 2 . Myths about Learning In the New Age personal development world. Even though their experience does not support it. You have to study. Commit to doing just a few minutes of the action. you will actually tend to keep going. that says if learning is not fun. as opposed to closing the book and going off to do something else. This works for all kinds of things people procrastinate on. It is amazing how many people say. it was something that was challenging. "Here are the three keys to leadership. there has been a twenty-five year history of a belief. with the promise to yourself that you can stop after that if you want to.have done your jog. Reading is not a memory activity. eUird." Once you begin to read. I am going to do it for just 10 minutes. The reason this works is that human beings are absolutely terrible at changing direction. there was a teacher or somebody there that got you to stick with it long enough to get the result. Mindset for Success Dr. Well. and you have to have a tolerance for doing that. If you have committed to spend time reading. we break it down into a one page cheat sheet or five power-point slides and say. For example. not one thing. The only way you can make learning fun all the time is to water down the material — so much so. Get in motion.

the three strategies — do not think. Fear is not like a little frustration or irritation." Fear and Courage On the road to wealth creation. One way is simply not to do the work." The game becomes. fear sits on the road to almost any significant goal that an adult might choose that requires some kind of learning. just start — are often not strong enough to initiate action. It is essential to deal with this because the effect of fear on the brain and body is so profound. Something else is needed to successfully neutralize fear. all kinds of fear can show up. I never did the work. The fact is. It is sometimes better to start something. It is a full body experience that is vibrant and hard to ignore. they can say to themselves." This is emotionally less risky than saying. because from the mere fact that you do not like it your brain will begin gathering information to make better decisions in the future. In fact.So if you want to remember what you read. do think. When there is fear. there are many things in life you cannot figure out by sitting on the couch. because when they fail. stay longer. how close can I get to the horse before I start to feel that effect of fear coming on? And then the game becomes. or do not attend a university course because there is a test at the end. how long can I stay Mindset for Success I Dr. The fear can be so great I just sit on the couch and watch TV rather than go anywhere near my horse. Adult learners have specific ways to defend themselves against the experience of failure and humiliation. Fear is why people do not ask for raises. You have to figure them out through action — through the process of action. which I call 'move closer. You have to apply study strategies that make the information memorable.5 . "I did the work — and 1 failed. one of the biggest causes of failure is the fear of failure. Stephanie Burns 2 . Also be aware when it comes to learning. in case I get kicked. not even knowing if you will like it. A new strategy is needed. Let us suppose I have a fear of being around the back-end of a horse. or by talking about them or by thinking. you have to do something about that. do not present themselves in a way that might get a new client. "Well of course I failed.

The second time you do it. if you use this strategy you will get closer and closer before the onset of fear. When they went parachuting the first time they were somehow able to get themselves to do it. And again. like fear or physical pain or discomfort or frustration. And if that process has a lot of things that are negative. so you do not know what is happening. how painful it might be." It is one thing to get yourself to do something once.: estate. can I stay there long enough for my brain to sort out that there really isn't any danger there? Over a very short time.there — can I stay just long enough for the fear to change a little? Cra0d4Itstanding up to give a presentation or planning to bid on a piece .there is no physical danger. Before you know it. your brain has sorted out what is and is not genuinely dangerous to the point where you can start to take some constructive action. The first time you do something. but your brain does not know that. You know how things work. how nerve-racking it is how long it is going to take. Stephanie Burns 2 . "I tried this before — and failed. It is quite another thing to get yourself to do it a second time. Ask people who have jumped out of airplanes. then you are biologically set-up for your brain to come to your rescue. Mindset for Success I Dr. But it is amazing how few people actually go back and do it the second time. can I go and sit in a room where that is happening? Can I watch other people do it? How close can I get before the feeling of fear takes over? And then. how is it going to rescue you? It is going to figure a way for you not to do it a second time. the same strategy applies. you are confronting a lack of familiarity.6 . How close can I get to doing it? If I can not place a bid on a property. What often makes the second event more difficult is that you now have conscious awareness of the actual process you will be going through. you do not actually know if you will do it for a lifetime. However.of." A significant obstacle to learning can be "the second time around. So when the fear response comes. experience shows that until you have done something a second time. you know full well what is happening. and you can stay longer and longer to neutralize the effect.

Then I will decide later if I want to finish the other 300 meters. That is not the issue. Just do it — or just make a start. "Listen. I have a dear friend — a famous 400 meter hurdler — who taught me about running that kind of distance. I will turn around and drive home. even if it takes three years before it happens. just as there is wisdom in saying. When Life Gets In the Way Sometimes unexpected things happen — life exerts itself. Do not think. Stephanie Burns 2 . And when it does. She said. We can have the goal to read one business book a week and. More likely. they are thinking "How in the world did I get myself into this situation again?" And their strategy for performance is typically not to think and just start.The strategy for mastering the second time around is the same as for any other action avoidance. like the odds of stopping after a hundred meters of a four hundred meter race. "I will get in my car and drive for ten minutes toward that mortgage broker. a child is sick or guests come from out of town or we get sent off on a project." Now there is wisdom in that strategy. Never lose sight of that intention. are practically none. Life will exert itself and it happens frequently enough that we should have a strategy to deal with it. And if after ten minutes I do not want to go." Because the odds of turning around and driving home. Mindset for Success I Dr. I have worked with a good number of Olympic athletes and what you learn is when they are ready to perform. The strategy for dealing with life exerting itself is 1 recognize it happens 2 recognize that life is very long and there is more than enough time to get things done Missing a week of reading your book or getting to the gym is not enough reason to stop the action — just start again as time allows. when I am standing on the start line my commitment is to run the first 100 meters —the best 100 of that 400 I possibly can. Set the intention every day that you will be back to your action. all of a sudden.7 . it exerts itself most intensely on our personal goals. they are usually not thinking positive thoughts about winning a gold medal.

It is the achievement of the goal that is problematic. wealth creation cannot be achieved in a day. First you must stop thinking that you can complete a large goal in a short time. or some other mechanism for setting their goals. Sometimes to be smart you have to listen to an audio. or a week. If you want to write a book. that does not get them up out of bed to do anything. Goal Getting working with adults that they mostly do not have many ISSues'With. too bad! Sometimes to be smart you have to read. you might be the kind of person who would rather be out there experiencing than sitting home reading. as soon as possible do something again. Well. Learn to do something every day for 90 days. you just cannot write a book in a day or a week or a month.Goal Setting vs. Wake up every morning and ask yourself: "Can I do one simple thing in the direction of my goal? Is it one minute more of reading? Is it ten minutes more of listening to the audio CD? Is it getting on the phone one more time with somebody who is influential to me? Is it putting one more dollar in the bank? Can I do one small micro-cosmic thing every single day toward my goal?" If you get in the habit of doing one small thing a day. But of course. The First 90 Days "frequent and consistent" is how to approach your first 90 days with the The Wealth Builder's Blueprint. When life exerts itself and there is a week you can do nothing. For example.. The key words here are frequent and consistent. Sometimes to be smart you have to be brave and take an action. you will absolutely get where it is you want to go.Setting goals. or a month. For example. People attend dozens of different types of goal setting courses and they come away with nifty DayTimers or plans or cheat sheets.8 . Make sure you have a strategy to start. You burn out your own good energy and you fail. It is something you have to give a little attention and a little action. so we all have areas Mindset for Success I Dr. Encourage yourself to do things that perhaps are not so pleasant for you. almost boring activities. every single day for a very long time. All of us have different preferences. Trying to do a lot at one time is usually a useless strategy. Stephanie Bums 2 . It is one of those long term.

The first time. If we can not do those things with the information. Be more reflective or take notes on points that seem to stand out for you. Getting the Most from The Wealth Builder's Blueprint The most powerful teaching devices you have are the audio CDs and this Workbook. that you would like to reflect on further. but their job is simply to deliver you the best information possible. For the next three or four Mindset for Success I Dr. Stephanie Bums 2 . Your sole intention is simply to become familiar with the sound of the presenter's voice. but it does not necessarily facilitate us remembering. that over time. Fortunately. lead to viable wealth creation. you might simply commit to studying ten minutes at a time. You will need to know how to learn this knowledge with a mindset that will enable you to utilize them well. then we are going to have a negative experience trying to use them. because they each need to be studied rigorously. I would make a plan to get a big-picture overview and then go piece-by-piece through each of the CDs. The point is to direct your brain. firSt 91:Pdays with this program is really about setting up your -mndset. you have wonderful content experts here. with the first pass focusing on the general overview. this time in a position where you can hit the pause button. Rather than listen to the whole audio CD at one time in this way. we have to recognize that listening to an audio CD one time through can be great for entertainment. learning. the concepts and ideas.9 . and your willingness to be a long-term student — and then using those strategies to take some steps. your behavior patterns. listen to the CD sitting back in a comfortable relaxed position or maybe in the car. Be prepared to listen to the audio CDs more than one time and in different ways. First. You might ask yourself "In what ways do I already resonate with that content?" Then plan to listen to the audio CD again. Your job is to facilitate your own learning process.of activity that represent greater or lesser degrees of comfort. being reflective or connecting the material to things we already know.

You see things you missed — you fill in the gaps. Remember. I would highly recommend that you set up a schedule to repeat them. Each time you are looking to see something in the experience you did not see the first time. but do not forget to use the concepts and strategies that we have reviewed here. Stephanie Burns 2 . Make sure that you choose a few successes first. get the studying done and get into action — for the sake of your long-term success.Qp are having lunch with colleagues. The majority of your action steps. Set aside time to complete each action step more than once — in fact. to establish in your own mind the learning outcome that you seek. listening assignments and study activity will not be the most fun activity to do on a Sunday afternoon. There is a line that says "we learn from experience" but in reality. you can ignore this advice. maybe three. But if you are genuinely striving to master the information. many people keep repeating the same experiences without learning anything from them.10 .y. Sit down. The Action Steps The actions steps in The Wealth Builder's Blueprint involve real-life experiences and not all experiences lead to good quality learning. you will gather some small percentage of knowledge. four. You might pick tasks that feel especially comfortable for you. Recognize that learning is going to get richer every time you revisit the action steps. So before each action step. If your goal is simply to be entertained and gather maybe one or two ideas.days. be sure. So you need to have the best strategies available. The way we learn from an experience is to focus our brain on what specifically we want to get out of the experience. focus on those few concepts. If you have ever read a book or a magazine article more than once. Later. to acquire new skills and knowledge such that you can head in the direction of wealth creation. When you re-read the same article again. The first time you scan through it. it is remarkable that you do not see the same things you read the first time. you will notice this phenomenon. do not think just do it! Mindset for Success I Dr. or five different times. tackle the second lice the CD. Talk about them in casual conversations when. So with the tasks that you are going to do. then set yourself up to be an excellent learner.

Money astery Diane Kennedy The Cost of Ignorance Key Terms Assets & Liabilities Net Worth Income Analysis Financial Statements Goal Setting Wealth Creation Basics Your Financial Team Overcoming Your Likely Roadblocks .

you can look forward to mastering the essential language of finance. it takes time to amass wealth — this program will put you on a course for success. As you know. You'll begin assembling a team of advisors and applying the strategies to build your prosperity.Over the next 90 days. money work hard for me My strengths in this subject include Basic investment & able to generate 4 figure passive income Topics where I can most usefully focus include Keep creating positive cash flow generating assets My 90-day outcome from studying this segment is Creating another 3 figure +ve passive income generating assets Money Mastery I Diane Kennedy 3 -2 . and the underlying principles for creating and protecting your wealth. My Outcome 1 am studying Money Mastery because I want to be master of money.

Ato: Action . This may be uncomfortable.3 . Don't try to recall everything that has happened in the past just pick out the most important examples. Example from my life Estimated financial cost Opportunities missed Poor investments Debt problems Excess tax paid Total estimated cost Money Mastery I Diane Kennedy 3 .-7.ost of Ignorance Purpose Tip Get clear why you are investing time and energy into your financial education. so think of the long-term benefits you will gain in money and peace of mind. 1 . Be totally honest with yourself.

4 . Self Refia— tc t 27/11/2012 Ignorance I_ Date completed Date started What 1 learned from looking back What 1 felt while doing the Action Step How I will apply what I learned in the future Money Mastery Diane Kennedy 3 .ActiolkStep.

Read the meanings.5 . etc.Purpose Tip Learn the essential terms that are needed to understand and discuss your financial situation. time or assets to generate wealth Money Mastery I Diane Kennedy 3 . royalties. A good follow-up is to read a financial magazine or newspaper and look out for the terms. Passive income Leverage Income from other assets such as real estate. then cover the "meaning" column with a sheet of paper and check that you have them well remembered. and businesses you own but do not work in Use of other people's money. bonds. Term Asset Liability Good debt Bad debt Net Worth Appreciation Depreciation Cash flow Velocity Earned income Meaning Something you own that puts money in your pocket Something you own that takes money out of your pocket Use of other people's money to buy assets Use of other people's money to buy anything else Total assets minus total liabilities Gain in value of an asset over time Loss of value of an asset over time: can be a source of tax benefits Movement of money in and out Speed of cash flows Income earned by work you do (highest tax rate) Portfolio income Income from paper assets such as stocks.

... car loan.6 ..Actior*Siegfz.T 1115 Date started Date completed What was new to me when I studied the key terms Things I thought were assets that may in fact be liabilities An example of good debt in my life zero down inv properties. . An example of bad debt in my life topaz loan. Self ffeji:pr ir. One situation or project where I could use leverage Mortgage investment Money Mastery Diane Kennedy 3 .

Even if it is creating income. Be disciplined about what you call an asset. If it isn't putting money in your pocket. Asset Monthly Income Liability Monthly Cost Macey Mastery I Diane Kennedy 3 . it's not an asset. Many people use the term carelessly to include luxury possessions and toys.A cti o n.7 . es Purpose Tip /4/ liabilities Make an honest assessment of current assets and liabilities. Note these too. it may also generate expenses.

Action-Step Self Re. Date started setsaiLiabilities I— Date completed I What I learned from listing my assets and liabilities Assets I had not been fully aware of Liabilities I had not been fully aware of How this awareness might impact what I do in future Money Mastery Diane Kennedy 3 -9 .-it.

In the previous Action Step we measured assets and liabilities in terms of how much cash they regularly produce or take away. Here we look at the total value of your assets and the total amount of your liabilities. Asset Monthly Income Liability Monthly Cost Total Assets Net Worth (Assets — Liabilities) $ Total Liabilities $ $ Money Mastery 1 Diane Kennedy 3 .9 .Purpose Tip Calculate your current net worth.

Action4te Self Re--iit Date started ___ Date completed I What I learned from calculating my net worth Check one u My net worth is greater than I thought 111 My net worth is less than I thought Steps I will take now to increase my assets Steps I will take now to decrease my liabilities Money Mastery J Diane Kennedy 3 .10 .

11 . portfolio and passive income. and businesses I own but do not work in Source Total $ Percentage of total: Earned Portfolio _. royalties.Purpose Tip Identify where your income is coming from. etc. Total $ Monthly Income Passive Income Income from other assets such as real estate.2/0 Passive ___°/0 Money Mastery I Diane Kennedy 3. What matters here is the ratio of earned.Your long-term goal will be to derive most (or all) of your income from portfolio and passive sources. Source Earned Income Income earned by work I do Monthly Income Total $ Monthly Income Source Portfolio Income Income earned from paper assets such as stocks. bonds.

Self Repot

ActiorL

, e;

,

nalysis
Date completed I— I

Date started

1— I

What I learned from reviewing my income sources

Where I would like to see percentages of income sources Earned Portfolio Passive Steps I plan to take to achieve this change

Money Mastery I

Diane Kennedy

3 -12

Actiop

- dat)Staternents

Purpose Tip

Learn how to read and use a financial statement. You can create your own financial statement, using one of the many popular software packages available. If possible, we advise you to hire a bookkeeper for this task so that you can discuss the meanings of terms and ask questions about the numbers. The financial statement is a tool you will be using regularly preferably once a month. It is the reality check that ensures you are keeping on your path to wealth.

Components of the financial statement
Totals your assets, your liabilities and the difference between them (your net worth)

Balance Sheet

Income Statement

Totals your income from all sources and your expenses from all sources Shows the difference between them (net income)

Cash Flow Statements

Shows how your money is moving in and out from month to month.

Note: Cash flow statements are often omitted, but this is a mistake. Make sure they are included in your financial statements as they are a powerful indication of your financial health.

Money Mastery I Diane Kennedy 3 -13

Action ten Self Re-

t'Statements
Date completed 1_

Date started

How I have decided to get my financial statements u Do it myself manually u Do it myself using software u Hire a bookkeeper What I learned about my financial situation from my balance sheet

What I learned about my financial situation from my income statement

What I learned about my financial situation from my cash flow statements

Money Mastery I Diane Kennedy 3 - 14

Actkin. Make your goals precise.i „ etting Now you've looked at where you are today. Your reasons are your motive force. measurable and attainable. Purpose Tip Now Bad debt Earned income Portfolio income Passive income . create your financial goals for the future. Make sure you specify the reasons for reaching your goals: how your life will change and why you wish to achieve this. Total assets Total liabilities Net worth Why I wish to achieve these goals 1 year from now 3 years from now 5 years from now How I will use my wealth My typical day 5 years from now Money Mastery 1 Diane Kennedy 3 -15 .

Actlop _Op Self Report Date started I_ I Date completed ____. I 1 What 1 learned from writing down my financial goals What I gained from stating the reasons for my goals C The first three steps 1 am committed to taking to achieve my goals 2 3 Money Mastery I Diane Kennedy 3 -16 .

. The three pillars of wealth creation are 1 earned income 2 starting a business and 3 real estate investment If you give each of these gradual and persistent attention. Give yourself up to 90 days to research each area and draw up detailed plans based on the decisions you summarize below. The first task is to increase your earned income. Employee: I will increase my earned income with. Promotion New job Other Resource CD Career Champion Business owner: I will increase my earned income with New clients or customers New products or services Resource CD Own a Business — and a Life CI Cost reductions Other Money Mastery I Diane Kennedy 3 -17 . you will become rich..4/' kreation Basics 1: Earned Income Purpose Tip Make the key decisions that will lay your foundations for wealth.ActionSte . Your approach will depend on whether you are an employee or an entrepreneur. Use the resources from The Wealth Builder's Blueprintto help you.

.18 . matron Basics 1: Earned Income Date started I Date completed ^ I port What I learned from focusing on my earned income The single best strategy for increasing my earned income First steps I can take in the next 90 days Money Mastery I Diane Kennedy 3 .

Your home-based operation will provide two advantages: create an extra income stream for you to invest. and provide numerous legal tax advantages. home-based business. both the CD and workbook section. This is a powerful action step for anyone who does not currently own a business. Use the blank spaces below to note likely possibilities.&flop Ste Creation Basics 2: Business Ownership Purpose Tip Start a small. and make full use of Own a Business — and a Life. My new business will be: Service based on a skill I possess Product I have created Product I can acquire and sell E Bay-based Web-site based Network marketing Franchise Other Resource CD Own a Business — and a Life My new business will be Money Mastery I Diane Kennedy 3 -19 . Give yourself up to 90 days to carefully evaluate different business possibilities. Read and research widely. Reserve the decision line until you have completed your research.

Action: la treation Basics 2: Business Ownership Date started I— Date completed I---- WhatI learned from thinking about starting a small business Challenges I see starting a business Challenge Possible solution One first step I can take now towards starting a business Money Mastery I Diane Kennedy 3 .20 .

Real estate is the most secure.Sfeation Basics 3: Real Estate Investment Purpose Tip Build passive income through real estate and begin the journey to financial freedom. Make a commitment to follow closely the directions given by Dolf de Roos in Money While You Sleep. Listen to his CD and record your decision here. profitable and tax advantaged way to invest the income you generate from your job and/or business. One of the first steps DoIf teaches is to decide which area of real estate you plan to invest in. I will invest in real estate Single family home Apartments Commercial Land Other Resource CD Money While You Sleep Money Mastery I Diane Kennedy 3 .21 . His incomefocused philosophy complements the wealth building strategies you are learning here.

Actiork. Date started I I Date completed I_ Three good reasons for me to invest in real estate 1 2 3 The kind of real estate I will invest in The reasons for my choice The amount of money I am now able to commit to my real estate investments The amount of time I am now willing to commit to studying Money While You Sleep and learn about real estate investing Money Mastery I Diane Kennedy 3 ._ o xd?eport- i*6tion Basics 3: Reit Estate Investment C.22 .

talk to their customers before hiring them. make sure the professionals you attract understand and support your outlook and goals. evaluate and select your team. Thirdly. First beware of free advice from well-meaning friends — the most costly advice of all.Team Purpose Tip Select the team of experts who will support your journey to wealth. Discipline Insurance broker Accountant Corporation specialist Lawyer Financial planner Estate planner Name Phone # Note Money Mastery I Diane Kennedy 3.23 . Use the note column to record your research. Give yourself up to 90 days to thoroughly research. Second.

g10' Self Report ---nn Incial Team Date completed I I Date started What I learned talking to potential team members Insurance broker Accountant Corporation specialist Lawyer Financial planner Estate planner Any other financial team players I need Money Mastery I Diane Kennedy 3 .Action.24 .S epc.

big picture thinking Attention to detail Record keeping Creative income producer Spending discipline Able to take risk Able to control risk Financially educated If a weakness: if a strength: ways to leverage ways to compensate Money Mastery I Diane Kennedy 3 .25 . Use your strengths for all they are worth. Find ways to work around your weaknesses. Here you will look candidly at yourself and notice your strengths and weaknesses. making full use of your team. r Strength or Weakness? Vision.ActioaStep :17-0vef o e Your Likely Roadblocks — Purpose Tip Anticipate the hurdles you are likely to face and make plans to get past them.

Action ie Self Re _or

rco ne Your Likely Roadblocks
I Date completed I I

Date started

What I learned about myself from this Action Step

My single biggest strength in the financial area

Howl can use this strength to improve my financial picture

Three ways I can leverage my team to overcome likely roadblocks 1 2 3

Money Mastery I Diane Kennedy 3 - 26

Some actions are one-off or infrequent events. Others must be repeated regularly. Were you'll find the steps that need repeated attention.

Action

Note Goals must be frequently revisited to have any impact. Keep recalling the reasons why you are pursuing your goal. Visualize the end result in detail. A couple of minutes a day can be enough.

Frequency

Goal review

Weekly

Financial statements

Check your financial health by getting your bookkeeper (or your software) to show your balance sheet, income statement and cash flow statements. The more money you make, the more knowledge you need. So read, read, read. Attend seminars. Listen to CDs. And keep checking in at TrumpUniversity.com

Monthly

Education

Daily. 5 days a week. (A little at a time)

Money Mastery I Diane Kennedy 3 - 27

ers of Persuasion
Dorian Gallo

Choose Your Project Identify Your Strengths Establish Your Outcome Understand the Prospect The Unique Selling Proposition The Locus of Power Prepare & Rehearse Your Presentation Support Materials Getting Through the Door Make the Appointment The Presentation & the Close Follow-Up

.4 .4.grawr Action Self Re '45.• .„ch0 NN I_ I ecy se Your Project Date started Date completed I_ My chosen project is The challenges in this project are The rewards for success in the project are One past success I have had with persuading people is Powers of Persuasion I Dorian Gallo 4 .

When you want to persuade someone. so you have them ready at hand. htify Your Strengths Possible Areas of Strength Add freely to this list! • • • • • • • • • • • • Leadership Courage Relationship Supporting others Friendliness Humor Caring Communication Listening Speaking Story-telling Writing • Visual communication • Creativity • Management • Quick-thinking • Organization • Follow-through • Information gathering • Analysis • Memory • Record-keeping • Technology • Numbers Powers of Persuasion j Dorian Gallo 4 5 .l am Purpose Tip Connect with your personal strengths to prepare yourself for effective persuasion. 1[!' . Most people. You may think you know your strengths. This is why you do not need and should not try — to turn yourself into someone you are not. have more strengths than they are aware of. More than that. You are certain to be surprised. you need to ask other people who know you well about your strengths. True confidence comes from real strengths.Action S ep. This is why you begin the process by identifying your strengths. and people can instinctively feel whether your confidence is natural or forced. the two most important factors are your confidence and your authenticity. however. It is important to take stock of yourself.

Self RepOit.ari SP.6 . TIJi) • < Date started iYour Strengths t Date completed I What I learned from identifying my strengths The three strengths of mine I most value Strengths I discovered that I had not fully noticed before Strengths of mine that other people identified Powers of Persuasion I Dorian Gallo 4 .r Action Step.

or the purpose of my purpose? 5 Writing more notes if you need to. A promotion is only one way to that goal. What you thought of as your outcome may be just one means to achieve the real result. In reality. Write on different notes all the ideas that come to mind around this goal. you could say that "getting a promotion" is your goal. For example. the goal is "more income". Powers of Persuasion I Dorian Gallo 4 . and stick the notes on the wall. and many possible ways to reach it.5 :ablish Your Outcome Purpose Tip Expand your vision for the outcome.7 . Another way could be changing your job. This action step will encourage you to more clearly distinguish the route from the destination. prominent surface and assemble some different colored adhesive notes.Action . 4 Now look at your ideas and ask yourself — what is the goal behind my goal. identify at least six different ways to reach your highest-level goal. Do not pass judgment on the ideas. 2 Brainstorm your objective. 3 Group the notes under a few main headings. This process is designed to widen your vision of what is possible when you set out with the intention to persuade other people. however silly or impractical they may seem. or starting a part-time business. The Outcome Process 1 Choose a wall or other large.

7 Action Srep 3 Self RepbritN IJIVIblish Your Outcome .8 ...711FT: Date started I_ I— Date completed 1— I What I learned from the Outcome Process The goal I first identified was The higher goal behind this (the purpose of my purpose) is Six possible ways of reaching my higher goal are 1 2 3 4 5 6 Powers of Persuasion J Dorian Gallo 4 .

Action . you must talk to people they know. The second is figuring out how to get them answered.5 erstand the Prospect Purpose Understand the needs. • What does my prospect wish for. you can ask the individual concerned directly. we will use the sales term "prospect" for this person. or find your answers through the Internet or other research. For example. problems and goals of the person you seek to persuade. In the best case. dream of or desire? • What does my prospect actually need? • What does my prospect dislike or distrust? • What has frustrated my prospect in the past? • What special problems does my prospect face? • What does my prospect know or not know? Powers of Persuasion I Dorian Gallo 4 . Questions To Ask Each question should be tied to the topic that is at the center of your persuasive endeavor. you have to detach yourself from what you want. and get connected to what your prospect wants.9 . The first thing to establish is what questions to ask. you must identify something that is more compelling to them than the money you are asking for. In other situations. Note: for simplicity. if your objective is to persuade someone to part with their money. Tip To be successful in persuading.

Action StcP'411 Self ReploitUriaerstand the Prospect Date started 1_ 1 Date completed 1 1 What I learned by researching my prospect's mindset How I found the answers to my questions Positives: The most significant things my prospect needs or desires Negatives: The most significant things my prospect wants to avoid Powers of Persuasion I Dorian Gallo 4 - .

challenges and goals better than most people do • Provide more support. Some Ways to Create Uniqueness • Understand the other person's needs. look or presentation Powers of Persuasion I Dorian Gallo 4. interests. quicker in response.5 ep. Uniqueness can be created in many ways.Action . clearer in communication • Create a finer packaging. even when the product or service is not especially unusual. 11 .A uniquely positive way of doing business can give you sufficient distinction. imagine yourself as the prospect receiving and making use of your offer. service. help or follow-up • Be easier to deal with — more pleasant. The Unique Selling Proposition is a classic concept used in sales and marketing. To identify the benefits. Unique Selling Proposition Nifff Purpose Tip Specify exactly what it is you are attempting to persuade someone of. The USP has three components: • A very precise description of what you are offering • An unmistakable benefit to the recipient • Something unique or compelling about the offer The key to the USP is matching what you have to offer with what the recipient needs and desires.

. Unique Setting Proposition !.. Action SteA511 Self Replo'rt.. NM II Date completed Date started _ I A short. precise description of what I have to offer How the recipient can benefit How what I have to offer specifically meets the needs or desires of the target One way my offer is unique — or can be made unique Powers of Persuasion j Dorian Gallo 4 -12 ...A 1..

Influencers: A Partial Checklist • • • • • • • • Friends Board of directors • Spouse Senior executives Colleagues in other departments • Children Significant subordinates • Neighbors • Press and media Community leaders Respected professionals (doctors. Decisions are rarely as uniquely individual as they appear. even their children. this one person will be surrounded by others who have some influence and even control over the decision. It is usually clear who your primary target is — the jewelry buyer for a major chain store. The "locus of power" is the central point where real decisions are made.. desires and challenges are — just as you did your prospect's. is a vital step in the persuasion game. Once you have identified the key influencers. however. the loan manager of a bank. Identifying this point. your prospective client. spouses. In other situations. etc. you need to research what their needs. the influences are often higher up in the organization — but not always. and the network of influences that surround it. In almost every case. your boss. In a corporate situation.Action Locus of Power Purpose Tip Find who is truly the decision maker.13 . people are influenced by friends.) Consultants Powers of Persuasion I Dorian Gallo 4 . and who influences the decision maker. colleagues. You can win over the CFO only to discover that she feels obliged to defer to her marketing director..

i'ripie ls)Unique Selling Proposition 01-.P 1:. NICK Date started _ I I Date completed _____ I I— What I learned from researching the locus of power Key influencers who might impact my prospect's decision Important needs. desires and challenges of the influencers Powers of Persuasion I Dorian Gallo 4 .14 .Action Segit Self Rfp 'ir'-'.427.

Action -4V1 1 oN. if the objection is price. you should have anticipated as many objections to your offer as possible. you should know exactly what you are going to say. Better than that. & Rehearse Your Presentation Purpose Tip Script your presentation and rehearse it with friends and colleagues. and planned your response. By the time you meet your prospect. Plan how you will create a receptive state of mind by asking open-ended questions. not rebuttals. Remember a presentation is not an argument. then choose friends or colleagues who will challenge you vigorously. See how concise and precise you can make it. such as "What are your current plans in this area?" or "Have there been any new developments since we last spoke?" or "What are the challenges you are facing right now?" 2 The pitch. Script your story — then shorten it. Rehearse with them interrupting you with objections. ask "What more would you expect for this price?" or "What price would make sense to you?" Powers of Persuasion I Dorian Gallo 4 .15 . Respond to objections with questions. For example. Rehearsal Points 1 Questions. Identify all the possible objections. 3 Objections. You should be so well rehearsed that you cannot be thrown off balance by any manner of challenge to your presentation. Rehearse until it flows naturally off your tongue.

Self Reod. 16 . Action Stm .„. Nri Date started I & Rehearse Your Presentation I Date completed What I learned from planning and rehearsing the presentation Open-ended questions I prepared My success in making my pitch shorter and more precise Objections I anticipated What I learned from rehearsing with friends and colleagues Powers of Persuasion I Dorian Gallo 4.

They can prepare the ground for your persuasive conversation. A good example is given in the audio CD.Action . These materials can be sent ahead of you. Money While You Sleep. These might include anything from a colorful postcard to a full-blown PowerPoint presentation.5 Oport Materials 7 11 Purpose Tip Create support materials to generate interest and prepare your prospect to be persuaded. you want him or her to be intrigued. The way to achieve that is to create materials that are designed to stimulate maximum interest. and give you more authority at the time. curious and positive about your offer. or taken with you. By the time you meet your prospect. When seeking a loan for real estate investment. relevant to the subject At the event • • • • Presentation book Flip chart PowerPoint presentation Product samples Powers of Persuasion I Dorian Gallo 4 .117 . Examples of Support Materials Sent ahead • Sales letter • Colorful "teaser" postcard • Surprise 3D gift. DoIf de Roos suggests you go beyond filling in the bank's forms and create a "Proposal for Finance" — complete with an attractive picture of the investment property. or both.

port Materials I Date completed What I learned from creating support materials Skills I have that I can use to create materials Skills I need to find in other team players Materials most appropriate for my current project Powers of Persuasion I Dorian Gallo 4 .18 . O .Action Self Rep Pe" Date started I )1.

Always express gratitude and take a genuine interest in their needs. You often need a strategy simply to get through the door.Jeling Through the Door 5. There are two aspects to the strategy. In the business world. to protect themselves from people who are seeking to pitch their products or services. such as voicemail and spam blockers. The other tactic is to win friends and allies in close proximity to your prospect. One is the effective use of communication tools to contact your prospect.1 Purpose Tip Find a way to reach your prospect.19 . .Ti:177 Action 0).. You may need to use many tools in creative ways to get through. people increasingly use technology. Communication Tools to Reach The Prospect • Phone • Overnight delivery • Mail • Fax • Email • Courier service Possible Allies • • • • • Secretary Receptionist Personal assistant Respected vendors Significant customers • • • • • Consultant Superior executives Colleagues Friends Spouse Powers of Persuasion I Dorian Gallo 4. Be careful when developing relationships with these allies to avoid using them disrespectfully.

P) I \Nilo Date started I— I— Date completed Challenges 1 have faced in getting through the door (with this project. or in previous situations) Communication tools I have used. or plan to use Potential allies who could help me Needs.Action Stegoi Self RepdittG mg Through the Door . wishes and problems of my potential allies C i Powers of Persuasion I Dorian Gallo 4 .20 .

You actually enroll the prospect in helping you be successful. 3 Review. During the call.21 . The call when you make your appointment is more than a formality. If at all possible. and ask what he or she will wish to know. When you have already invested a lot of time and effort in your preparation.Action Si VI the Appointment „iljp 1 `:. 2 Tell the prospect briefly what you will be talking about.” Note that you must be ready to revise your script and materials after the appointment call. This is an opportunity to find out how to effectively prepare for the presentation. deflect such questions by saying: "I'm looking forward to explaining that in detail at our meeting..411111) Purpose Tip Make the appointment in a way that helps you prepare effectively. Powers of Persuasion I Dorian Gallo 4 . Ask what specific materials or information will be helpful. the prospect may try to short-cut the presentation by getting the pitch from you over the phone. The Three Steps of Making the Appointment 1 Agree on a time and date. you may be tempted to skip this step. It is an important step in building your relationship with the prospect. Don't! Be sure to update everything. revise and refine your presentation script and your materials in response to the call.

22 . Self Repbk.Action Step. e the Appointment Date completed Date started What learned from the appointment call New information or materials my prospect asked for How I changed my pitch and materials Powers of Persuasion I Dorian Gallo 4 .

it may be wise to postpone the presentation. 5 To get a decision you don't need special closing techniques or skills. to indicate you have heard or be corrected if you have misunderstood. Ask questions such as "What else needs to happen in order for us to come to an agreement?" Powers of Persuasion I Dorian Gallo 4.Action Sep{ 35111' 11 resentation & the Close 10/ 1 Purpose Tip At the presentation. Focus on the practical process of completion. energetic and interesting. maximize your chances of getting a positive result. 3 Stop and listen." If the prospect is unusually stressed. Key Skills for Presentations 1 First check the terrain. You will learn most about presentation skills by frequent and challenging rehearsals — and of course from experience in real situations.23 . Ask what alternative solutions the prospect is reviewing. There are certain specific skills you can focus on when you practice. Let the prospect feel your enthusiasm and see the thoroughness of your preparation. 2 Keep your pitch short. rushed or upset. Know what you are "speaking into. Repeat back what the prospect says to you. Ask how your prospect's day has been. 4 Get up-to-date on the competitive situation. or a similar question to test the mood.

Action S' ep. I needed to How well did I check the mood and the current situation? How precise and effective was my pitch? How well did I listen and repeat back what I heard? How effectively and calmly did I handle objections? How well did I focus on practical steps to completion? Powers of Persuasion Dorian Gallo 4.i4 Self Repoli-' Date started I I resentation & the Close Date completed How I evaluate my presentation on a scale of 1 --10 To achieve a 10.24 .

Stay on top of the process.13 0. By the end of the presentation. Follow-Up Guidelines If "Yes" Thank the prospect for the opportunity. most failures and missed opportunities can be explained by lack of follow-up.Action . In the world of sales. you will probably have arrived at one of three outcomes in your presentation: a "yes. Follow up to ensure actual completion on the agreement.U p N\11% Purpose Tip Follow-up with the prospect and build your relationship for the long term. Just because you didn't achieve an immediate result does not mean the story is over.25 . Whatever the result of your presentation.pw. Ask if there is a time in the future (say six months away) when you might reconnect. If "Maybe" Develop the conversation about the prospect's goals and challenges." Each requires its own type of follow-up. and new opportunities may arise months or even years later. Build on that relationship. you now have a closer relationship with the prospect. If "No" Thank the prospect for his or her time. Powers of Persuasion I Dorian Gallo 4 . Ask questions to discover what will meet his or her needs. The same principle applies to all persuasive situations." a "no" or a "maybe.5 6.

Action Sep Self RepOrt' < Date started I _ :Tow-U p Date completed I I The result of my presentation was: "Yes" "No" "Maybe" My immediate follow-up actions are Future follow-up actions will include What I have learned from focusing on follow-up Powers of Persuasion I Dorian Gallo 4 .26 .

Maintain a discipline of regular. Repeating what you heard is a listening skill that you can practice at any time. or whatever interval is appropriate Powers of Persuasion I Dorian Gallo 4 27 - . One time through is not enough. applying for a job. Others must be repeated regularly. Every time you make a serious attempt at persuasion. see yourself at the beginning of a journey with this person — whatever the outcome. As often as possible Shrink the pitch Weekly Repeat what you heard Daily Follow-up Create a cycle of communication: weekly.. monthly. getting a date. or invent them! Practice creating a pitch and shrinking it to 30 seconds -the length of a TV ad. Action Note Frequency It is essential to practice the New Projects entire cycle of steps. friendly and valuable follow-up communications. Any imagined project will do: selling your car. Look out for opportunities. It has immense power to improve communications and strengthen persuasion.Ongoing 1 (1579 Some actions are one-time or infrequent events. Different persuasion challenges will exercise different skills. Here you will find the steps that need repeated attention..

. areer Champion czs Les Hewitt and Chris Lewis Plan Your Career Focus on Strengths Mentorship Essential Skills Leadership Feedback Public Speaking Make Connections Making the Boss a Star Create Added Value for the Company Bea Volunteer Establish Core Values Your Goals and the Company's .

Equally important. studying this program will help you better understand the world where many of your clients or customers work.to expect from this program By studying this program. and you will begin to acquire both the skills and the connections required to achieve them. you will have a clearer understanding of how your values and goals fit with those of the company you work for.2 . If you're an entrepreneur. You will know your precise objectives. My Outcome I am studying Career Champion because My strengths in this subject include Topics where I can most strongly focus include My 90-day outcome from studying this segment is Career Champion Les Hewitt and Chris Lewis 5 . you will develop the ability to take control of your career and map out a pathway to success within the corporate world.

7 What is the contribution you most wish to make to the corporate world? Career Champion I Les Hewitt and Chris Lewis 5 -3 . and think big. Focus on what is most important to you. 'I Which activities give you the most joy. what higher level of appointment would meet these criteria? • Exciting • Challenging • Attainable 6 Name three companies where you believe you would enjoy working. professionally. not just in your current job but for your entire career. interest and sense of fulfillment? 2 Which professional achievements to date are you most proud of? 3 What motivates you to work. financially and personally. lay out the key steps to reaching them. Set aside the current issues and irritations of your job — they'll still be there when you get back to the office. If possible. Set specific targets for the next five years. Use the questions below to start the process. and what most frustrates you? 5 Thinking about promotion. apart from money? 4 What do you most like about your present job. spend an entire weekend away devoted to thinking about your future. Dare to think outside the box.Action Step areer Purpose Tip Define your objectives. Once you've established your main goals.

Action Step Self Reportppi. ".4 . Date started I Greer Date completed ___ I— I What I most learned about myself from this process What I learned about my current situation My vision for my ideal job Where I plan to be professionally One year from now Three years from now Five years from now My income goals for each of these milestones One year from now Three years from now Five years from now Career Champion ` Les Hewitt and Chris Lewis 5 .

That's your focus level. Estimate the time spent on each activity. list your three key strengths 1 2 3 Calculate Your Focus Level Take a typical week and write down every activity or function that you perform at work.5 . and ask if this activity primarily draws on your strengths. Be specific — for example. list the types of people you talk to. If you are on the phone a lot. • You are most energized • You are most productive • You are most fulfilled Know Your Strengths Using the criteria above. Therefore it is essential to know what your strengths are and how you are utilizing them in your job. Check each activity against your strengths. say what the typical meeting is about. Success in the corporate world depends on how far you can apply your gifts and energy to the greater good of the company you work for.Strengths Purpose Tip Discover how much of your time is spent using your core strengths. Here's how to recognize a strength and when you are using it. if you attend meetings. Career Champion I les Hewitt and Chris Lewis 5 . Calculate the percentage of your time spent using your core strengths.

Career Champion I Les Hewitt and Chris Lewis 5 .Action Step 2 Self Report FO rengths Date completed I_ Date started 1— What I learned by identifying my strengths What I learned from writing down all my activities in a typical week The percentage of time I spend using my strengths Three steps I can take immediately to increase this percentage 1 2 In my current job is it possible to eventually raise the percentage to 80+%: Yes No if the answer is "no".6 . take time to identi fy at least three other companies where the answer might be "yes" — or consider a complete change of career.

as every great sports star will testify. a leader in your industry.7 .Action Step 3 Purpose Tip Find a mentor and become one. You may be surprised to find potential mentors where you hadn't considered looking. or a professional coach. it's never too early to start sharing what you know with someone less experienced. Strike the same balance when you play the role of mentor. However high you rise you can always benefit from a great coach. The important thing is to find someone who is willing to challenge you as well as support you. mentorship is a two-way business. Use the table below to help your search. Potential mentors Executives in the company I work for People I especially respect outside the company Sources for professional coaches Career Champion I Les Hewitt and Chris Lewis 5 . or someone outside — a retired executive. At the same time. Your own mentor might be a senior executive in your company. So for a leader.

Action Step 3 Self Report ivie e Date started I Date completed 1_ What I learned from focusing on mentorship The mentor I have chosen is I am committed to meeting my mentor (by phone or in person) every weeks What I seek to gain from the coaching includes The first person I have offered to coach is What I will help this individual achieve includes Career Champion I Les Hewitt and Chris Lewis 5 -8 .

you can revisit your five-year career goal and ask: "What skills will enable me to do my future job more effectively?" Skills Checklist List skills of possible value to your career in the right-hand column Management skills Technology skills Communication skills Financial skills Marketing skills Other skills Career Champion I Les Hewitt and Chris Lewis 5 . Purpose Tip Identify at least one skill you can acquire or strengthen that will advance your career.9 . but sometimes you can get more leverage by strengthening a skill you already have. It's great to learn new skills. You can ask yourself: "What skills would enable me to do my current job more effectively?" More powerfully.Action Step 4.

Action Ste p 4 Self Report Es. Date started dits Date completed 1 I What I learned from completing this action step Current skills I can improve on to expand my opportunities New skills I need to develop that will expand my opportunities The one skill I will focus on first How I plan to develop this skill Career Champion I Les Hewitt and Chris Lewis 5 -10 .

make no effort to defend yourself against criticism. ask a small group of colleagues for feedback about two essential leadership qualities — your ability to communicate and your teambuilding skills. If you see yourself avoiding it. Don't expect to find this exercise easy. Career Champion I Les Hewitt and Chris Lewis 5 -11 ." If you are not currently leading a formal team. The most important part of the exercise is this — when you receive your feedback. For each number less than 10. ask "What would I have needed to do for you to have given me a 10?" When this is complete." say "Here's something you could do better. rather than individually. Rate the team as a whole. Instead of saying "This is what you did wrong. First invite the team to rate itself. provide a model for giving positive feedback. listen again to Dr. offer your rating on the team's performance. on a scale of 1 — 10. including the question "What would we have needed to do to give ourselves a 10?" Then give your own rating and feedback. When it is your turn to offer feedback. How To Ask for Feedback Ask a simple question.Action Step 5` Lea Purpose Tip Feedback Invite an objective and honest assessment of your leadership abilities. such as "How did I do as a leader this week?" Request a rating from each person in the group. Burns on the Mindset for Success CD.

Action Step 5 Self Report Let feedback Date completed _ I_ Date started ____ What I learned about my leadership abilities from the feedback How I felt while doing this exercise Changes I am committed to making as a result of the feedback What 1 learned when giving feedback Career Champion Les Hewitt and Chris Lewis 5 -12 .

All these skills are immensely useful in corporate life. If not. your ability to articulate a message. Ways to Learn Public Speaking • Join a local group dedicated to teaching and practicing public speaking (Toastmasters. When you stand up in front of any type of audience you test your confidence with people. now is the time. You need to master public speaking for many reasons. whether you are leading a project team. presenting to clients. Making formal speeches is probably the least important. one day. If you've already tackled this skill in Action Step 3. handling public relations or.Action Step Purpose Tip Gain confidence and competence in public speaking. chairing the board. for example. all power to you. and your capacity to "feel" the unspoken response that others give you. in the United States) • Join an "improv" class — an amateur group that trains in improvised acting • Attend a seminar on presentation and training skills • Find and hire a professional speaking coach Career Champion I Les Hewitt and Chris Lewis 5 -13 .

„„z!' Aking Date completed I Date started 1_ What I have learned since beginning to practice public speaking How my anxieties about public speaking have changed How these new skills are helping me now How these new skills can help me in the future Career Champion I Les Hewitt and Chris Lewis 5 -14 .Action Step Self Report avrtS.

in a positive way. not just a name on the books. It's about taking a genuine interest in other people's goals and challenges. Remember to build support among people lower down in the organization as well as higher up.Action Step 7 Purpose Tip Build a network of allies in your organization. join at least one professional organization and one community or charitable organization. Make yourself known to the individual(s) — and make yourself useful. Winning their support requires you to make yourself known. Your career advancement depends on other people. Also. People to connect with Higher up in the company Lower in the company Outside the company Career Champion I Les Hewitt and Chris Lewis 5 -15 . During the next 90 days. commit to finding at least three individuals in each of these zones: higher up in the company. Be an active member. lower in the company. and outside the company. look outside to community and professional organizations. This isn't just about selfpromotion. In the same period. and being of help wherever you can.

Action Step 7 Self ReportIOW n#ctions Date completed Date started What I learned about myself from the effort to make connections What has surprised me about the experience Ways I have begun to contribute to my new group of business contacts Some things these people have taught me Career Champion I Les Hewitt and Chris Lewis 5 -16 .

17 . and let the accolades and rewards go to your boss.Action Step 8. they will recognize and appreciate your effort and carry you up with them as they rise..'" Purpose Tip Look for ways to increase the success of your immediate superior. The trick here is to set your ego aside for a while. You will become indispensable. In most cases. One of the most powerful ways to achieve success in the corporate world is to build the success of others. who will he or she turn to first? Questions to ask yourself about your boss What is my boss's top priority? • • • • • • • Increased sales Decreased costs Higher margins New leads and customers A particularly demanding client A specific project or product development Something else. When the individual you have supported achieves a significant promotion. and has the power to make appointments.. What is his or her primary career ambition? What would get my boss the most recognition and reward? Where is he or she vulnerable to failure or criticism? What extra support can I give directly to my boss? How can I encourage others on the team to support my boss? Career Champion] Les Hewitt and Chris Lewis 5. and your name will increasingly be linked with success.

Action Step 8 Self Report ivi4 e' Date started I_ I_ Date completed I I— What I learned from focusing on my boss's career goals How I felt about focusing on making someone else successful Specific ways I identified to help make my boss a star The first action I am taking to help my boss succeed Career Champion I Les Hewitt and Chris Lewis 5 .18 .

is to review how you can support either of these outcomes. Increase Revenues • • • • • Increase leads and prospects Increase prices Increase number of sales Increase sales per customer Launch new products and services Decrease costs • • • • • Lower production costs Lower marketing costs Lower distribution costs Lower administrative costs Reduce other expenses Career Champion I Les Hewitt and Chris Lewis 5 .79 . The corporation you work for is in business to make profit. Your task. The point of this action step is to go the extra mile and contribute more to the company than you are currently being paid for. within the constraints of your current position./ Action Step Urea Purpose Tip Value for the Company Identify ways to increase the success of the company you work for. you assume (at least in your thinking) a higher level of responsibility for the company than you currently have. no matter what your formal job. In this way. and the two primary ways to increase profit are to raise revenues and decrease expenditures. In effect. you will see progress in your career. you prepare for the reality of acquiring a more responsible position — and make it more likely. Your contribution at this stage might seem small or indirect — but if you keep a constant focus on these objectives.

20 . beyond my routine work Ways I can contribute to decreasing expenditures.Action Step Self Report cre alue for the Company Date completed Date started 1._ What I learned from focusing on the company's profitability Ways 1 can contribute to increasing revenues. beyond my routine work Career Champion I Les Hewitt and Chris Lewis 5 .

By volunteering. It's a paradox: one of the ways to get rich is to work for no money.21 . Volunteering brings you into contact with a new circle of people. Giving of your time also establishes that you have values and interests that go beyond money. doesn't exist — why not instigate it? Career Champion I Les Hewitt and Chris Lewis 5 . you mark yourself as a person who contributes more than he or she takes. So you can use volunteering as a training tool. another leadership trait. and the connections can serve you well. In addition. whether in a specific skill or in management. Opportunities to Volunteer Business-related • Projects outside your department that need extra hands or talent • Training others in your specialty • Support a professional or trade association • Support a company club or association Charity-related • Participate in a company-sponsored charity • Help a national or local non-profit • Lecture or coach at a local school or college Note: If an attractive volunteer opportunity.Action Step lb. you can take on responsibilities and tasks that stretch your abilities. so it helps position you for advancement. in a different context. like a company-sponsored charity. Self Report Bel Purpose Tip Spend time and energy doing volunteer work. That happens to be one of the principal qualities of a true leader.

22 .Action Step Self Report B 41' Date started I 1 Date completed I I What I learned about myself from volunteering my time How I feel about working without monetary payment Possible ways to volunteer my time in the business context Charitable or educational volunteer opportunities that attract me Career Champion I Les Hewitt and Chris Lewis 5 .

Use the key words and phrases to prompt you in identifying your values.Action Step Eska` Purpose Tip ore Values Put your core values in writing. Career Champi on I Les Hewitt and Chris Lewis 5 .Words Relationships Family Community World Environment Work Money Truthfulness Integrity Spirituality Write down on a 3 x 5 card four or five core values you absolutely refuse to compromise.23 . Have the card laminated and carry it wherever you go. Add your own key words in the blanks. Value Key. but for many of us they are unspoken assumptions. Record those values that are most important to you. this record of your values is for your eyes only. Values that merely sound good will collapse when tough decisions must be made. The purpose of this action step is to make you conscious of what your values are. there are times — especially in corporate life — when what we stand for is suddenly put to the test. While unspoken values serve us well in most situations. This is when it helps to have complete mastery of our values. Remember. We all have basic values.

-' Self Report ore Values Date completed I Date started I_ What I learned from this exercise about my values Values that are more important to me than I realized A time recently when my values were tested Career Champion I Les Hewitt and Chris Lewis 5 .Action Step hr4.24 .

Action Step 1,?,

ya

7 Z.

a s-7:4nd the Company's

Purpose Tip

Discover where your goals and values match those of the company — and where they don't. You can learn a great deal by taking time to compare your goals and values with those of the company that employs you. It is highly unlikely you will find a complete match, but there should be a significant overlap. If there is, identifying the common ground can strengthen your commitment to your job. As you begin to look on your employment more as a partnership, you will adopt the outlook of a senior executive — and prepare yourself for becoming one. If you discover that your goals and values and those of the company are incompatible, it's time for you to make some tough choices. Remember, your career is larger than one particular job. Your career is your destiny.

The Company

Me

Goals

Values

Career Champion I Les Hewitt and Chris Lewis 5 -25

Action Step 2V Self Report yo

Date started

I

Date completed

,

I

What I learned from comparing the company's goals and values with my own

The most striking similarities between the company's goals and mine

The most striking similarities between the company's values and mine

The most striking difference between the company's goals and mine

The most striking difference between the company's values and mine

How I feel about remaining with this company after doing this action step

Career Champion I Les Hewitt and Chris Lewis

5 - 26

Ongoing Actions,

Some actions are one-time or infrequent events. Others must be repeated regularly. Here you'll find steps that need repeated attention.

Action

Note
Keep your career goals in focus — write them on a card, laminate it and carry it with you. Review the goals and see them completed Like your goals, your values need to be continually impressed in your mind. Use your laminated card. You have endless meetings with other people. Schedule one with yourself, to think about your current job and your long-term career plan If you are a team leader, hold a regular meeting to update the team on the big picture and on progress toward team goals Action Step 2 is so important it should be repeated regularly. Also, sometimes conduct a Focus on Strengths exercise with your team to match the best people with the right jobs

Frequency

Goals

Daily

Values

Daily

Reflective Thinking

Weekly

"State of the Project"

Monthly

Focus on Strengths

Monthly

Career Champion l Les Hewitt and Chris Lewis 5- 27

usiness nd a Life Jeff Burrows Create the Vision Steps to Reality The Three Personalities Create Systems Organizational Structure The Position Agreement The Art of Accountability Employee Development Meetings Guerrilla Market Research Treat Your Job as a Business Create a Stop Doing List Prosperity Consciousness .

Note: Adapt each action step according to where you currently are in the entrepreneurial process. practiced and begun to master the core principles. My Outcome I am studying Own a Business and a Life because My strengths in this subject include Topics where I can most usefully focus include My 90-day outcome from studying this segment is Own a Business — and a Life I Jeff Burrows 6 . In 90 days you can expect to have understood. Starting and running a business involves many disciplines and of course you will need to study widely beyond this program.xpect from this program This program will introduce you to the sound principles that create a successful — and satisfying — enterprise.2 .

Purpose Tip Establish your vision for the business you own or plan to create. Give the answers in note form here.3 . Spend time on the first draft — leave it and come back to refine it. A powerful business vision is both large and precise. then expand the notes into a paragraph. Then share it with everyone involved in your business. What business are you in? Who are your customers or clients? How will they benefit from your business? What is unique about your product or service — and/or the way you will deliver it? What are the core values of your business? What are your goals? Own a Business — and a Life I Jeff Burrows 6 . Donald Trump says "think big" — and he also advocates strict realism. Use the questions below to formulate a one-page vision statement.

Date started I— Date completed I_ What I learned from creating my business vision What I felt while creating the vision Stakeholders I will share the vision with include Own a Business — and a Life I Jeff Burrows 6 .4 .

Look beyond venture capitalists to government sources. Here you will identity some of the areas you need to study and act on beyond the scope of this program. and friends or family. Own a Business — and a Life I Jeff Burrows 6 . Explore ways to use leverage — other people's money — being sure your approach is ethical and legal. read how to do it.Purpose Tip Identify the steps you need to take to turn your vision into reality. potential vendors or customers. Do enough people really want it? Will they pay enough to make it profitable? Create a team of professionals. Find advisors and mentors who know your market — offer them future financial participation if need be. Use a well-reviewed software package for creating a business plan. starting with the financial team introduced in the module Money Mastery. get professional legal advice on what must be included in your plan. or get a mentor to help.5 Build your support team Write a business plan Raise the money . Conduct a feasibility study Find ways to test the viability of your product or service. If you are planning to raise investment capital.

Action Self Rept) s to7Reality I I_ Date completed Date started What 1 learned about the feasibility of my business idea What my support team has contributed so far What I learned from writing my business plan How I am raising the capital Own a Business — and a Life I Jeff Burrows 6 .6 .

the manager and the technician. your dominant personality is Manager If C is your highest. and how to make the best use of your own characteristics. As business owners. Take these steps 1 Listen several times to the CD Own a Business and a Life 2 Read extensively and study entrepreneurship.ree Personalities Purpose Tip Understand the three "personalities" of the entrepreneur and know how to work with them. ranking the truest at 1 and the least true at 3. If you aren't naturally an entrepreneur. according to how true they are for you. your dominant personality is Entrepreneur To lead a company. Own a Business — and a Life I Jeff Burrows 6 .7 . delegate the technician and manager functions in your business to other people. 3 As soon as possible. Rank A I'm happiest when I'm busy using my professional skills B I love to organize things and work with systems r. you can learn to become one. we each have three personalities: the entrepreneur. you must make the Entrepreneur first. I'm a big-picture person: I see the vision and get ' impatient with details If A is your highest. your dominant personality is Technician If B is your highest. Use this exercise to learn about yourself. The balance between them is different for each individual. Rank these statements in order. Attend seminars and events where you can get to know other business owners — become part of the entrepreneurial culture.

B .Action Self RI '0'0 tee Personalities I Date completed I Date started What I learned from studying the three personalities My dominant personality is My second personality is My least developed personality is My plan to develop my entrepreneurial spirit is Own a Business — and a Life 1 Jeff Burrows 6 .

record the system for that job: a manual on how best to do every key function. Whatever you currently do. If you are currently employed. Job title Brief description of the function Key points for system manual Function 1 Function 2 Function 3 Function 4 Function 5 Own a Business — and a Life I Jeff Burrows 6 .9 . use your own job to learn from. help that individual write the system manual for their job.Purpose Tip Understand that each job someone does should be based on a written system. if you have anyone working for you now. Then. Use the template below to get yourself started. This principle is so fundamental you should master it before you hire anyone.

Action(S Self Repp 'reateSystems I I Date completed I I Date started What I learned from writing the system manual for my own job How my job performance improved as a result of writing the manual What I learned from showing my employee(s) I subordinate(s) how to write a systems manual Own a Business — and a Life 1 Jeff Burrows 6 -10 .

Me the capital and the spirit Manufacture our product Understand demand for our product Sell as many of our products as possible Production Director of Production Director of Marketing My brother Marketing Me Sales Director of Sales Me Finance Chief Financial Officer Ensure the financial health of Me our company Attract staff and care for their well-being Human resources Director of HR My spouse Own a Business — and a Life I Jeff Burrows 6 -11 . many jobs are done by a few people or just one. When you're starting a business.Action (S r anizational Structure Purpose Tip Create an organizational structure. The organizational structure shows how all the different systems fit together to create the whole company. A typical organizational structure for a start up is shown here. Adapt and add to it for your business. It is still essential to write down the structure so that later you can move out and let others take over the different functions. Function Leader Title CEO Mission Who Provide the vision. Each function has its own place in the structure — it can not be based on people.

aifilational Structure Date started I Date completed What I learned from creating my organizational structure What I would gain from hiring others to fulfill some of these functions Which functions I could begin to give to other people Own a Business — and a Life I Jeff Burrows 6 -12 .

with my guidance and support. managerial and technical work required to achieve the results. Sample position agreement result statements Position Agreement For: Position Title: Result Statement: VP Administration 1 am accountable for producing the following results: To retain long-term. delivery and information technology systems that fulfill the company's financial and strategic objectives. fulfillment. Manager. Customer Service Jeff Burrows 6 -13 Position: Position: Position: Position: Own a Business — and a Life I . Remember. and agreement to clients. Finance Manager. marketing promise.osition Agreement Purpose Tip Learn how to create a position agreement by writing your first one. Information Technology Manager. The position agreement is not a conventional job description. First write a position agreement for your own current job — and sign it! Then write a position agreement for each key function from your organizational structure in Step 5 above. ideal clients for the company through the creation and implementation of money. There are two key differences. not the systems required. there must be a position agreement for every function. 1 The position agreement is about the results of doing the job. 2 The position agreement is a signed commitment to the entrepreneurial. as their manager. Client Fulfillment Manager. Reporting Positions: These positions report directly to me and are accountable for producing the indicated result.

Action Self RepotDate started I— l sition Agreement Date completed What I learned about my own job from writing the position agreement Discoveries I made about my business by writing position agreements for each key function Own a Business — and a Life I Jeff Burrows 6 -14 .

This action step is a reality check. It gives you an insight into how you are currently holding accountable the people you pay to support your vision. how is this employee held accountable for results? u How often is there a formal evaluation or assessment of progress? u How is the employee evaluation process linked to the employee's own career and personal aspirations? Own a Business — and a Life I Jeff Yurrows 6 -15 . use the same exercise to find out how you are held accountable — by those you work for.of Accountability Purpose Tip Review how employees are currently held accountable. If you are not yet operating your own business. Accountability checklist u Does each employee have a position agreement he or she can be held accountable for? u How is this employee's performance monitored? u Specifically. and by yourself.

16 .Action iSig Self Repo' -of Accountability I I Date completed I_ I— Date started What 1 learned from reviewing our accountability process How the company could benefit from an improved accountability process How the employee could personally benefit from an improved accountability process Own a Business — and a Life I Jeff Burrows 6 .

conduct an employee development meeting with yourself. This is how you hold employees accountable for the position agreements they have signed. Employee Development Meeting Agenda Employee Position Key results sought.Action (-Ste ployee-Development Meetings Purpose Tip Learn how to plan and manage an employee development meeting. per the position agreement 1 Recent successes in creating results 2 How those successes were achieved 3 Opportunities to improve results 4 Key learning since last EDM 5 Personal and career development points 6 Specific goals to achieve before next EDM Own a Business — and a Life l Jeff Burrows 6 -17 . Adapt this draft agenda for your particular circumstances. The keys to success here are 1 Focus on results not activities 2 Build the employee's sense of contribution to the company mission 3 Help develop the employee's career as well as their usefulness to you If you don't yet have employees or subordinates.

Ste Self Report mployee-Development Meetings I— I— Date completed I I Date started What I learned from conducting the employee development meeting How the company has benefited from this meeting How the employee has benefited form this meeting How I will improve the way I conduct my next employee development meeting Own a Business — and a Life I Jeff Burrows 6.Action.15 .

such as tills Low-cost online surveys of potential customers Prospects who don't buy: follow-up process to interview non-buyers Own a Business — and a Life i Jeff Burrows 6 -19 To do N/A To do N/A .ActionStep usrrata. Market Research Purpose Tip Review how market information is currently acquired.g. Market data required: checklist Covered now Age Gender Economic status Geographic distribution Relevant desires Relevant needs Relevant dislikes and anxieties Relevant frustrations (e. Technology — and a little imagination — can yield rich information about who buys. and create new ways to find out about customers. who doesn't and why. You don't need to hire an expensive market research firm to learn more about your customers and clients. with competitors) Level of relevant knowledge Market data acquisition methods: checklist Covered now Regular customer satisfaction surveys Record keeping of customer data by customer service personnel Data acquisition built into transaction systems.

Action f.Market Research I Date completed I Date started What I learned from the marketing data checklists Information about our customers it would be especially useful to know How I plan to acquire this information in future Own a Business — and a Life Jeff Burrows 6.Ste Self Repor a.20 .

afi Your Job as a Business Purpose Tip If you are currently employed. From Job to Business The name of my business: My title as leader: The business vision: Business goals for the next 3 months: Own a Business — and a Life I Jeff Burrows 6 .27 . This exercise will make you more successful in your job and give you powerful training for when you start your own business. which will teach you a lot. reframe your job as an entrepreneurial business that you own. You can apply almost every facet of the entrepreneurial process to your new "business" — except you won't have to raise any money! Have fun with this exercise.

Action (Ste Self Reii.Or our Job as a Business I I Date completed Date started What I learned about my job from this exercise How treating my job as a business has improved my job performance How this Action Step relates to information in the Career Champion audio CD How I will apply this experience if and when I have my own business Own a Business — and a Life I Jeff Burrows 6 .22 .

2 List the activities you currently do that could be done by someone else — someone who is not the leader and visionary for your company. You do need a lot of discipline to stop doing things that are not productive. It includes a powerful exercise that identifies what you do in the day. and how that matches (or fails to match) what you are best at. Career Champion. make a commitment to write the manual. How to Create Your Stop Doing List 1 Listen to the audio CD. This can prevent you from working on the big picture. Ask yourself this key question: "Do I want to own a job or a business?" Own a Business — and a Life I Jeff Burrows 6. "But I'm the best at this" — and that's your excuse for continuing the activity.23 . Set a timeline. you probably don't need any discipline to make yourself work.reate a =Stop Doing List Purpose Tip Cure yourself of busy-ness and free your time to build your enterprise. Entrepreneurs tend to be attached to controlling all the details. If you own a business. and limit the growth of your enterprise. 4 Find someone to train. 5 You may be telling yourself. Recognize that the technician or manager in you is fighting the entrepreneur. using your system manual. 3 Select the activity from this list that consumes the most time. Ask yourself: "Have I written the system manual on how I do it?" If not.

. and to what extent am I functioning as if I own a business? The benefits coming from my Stop Doing List are Own a Business — and a Life lel/Burrows 6. Self ROW- reate:aStop Doing List Date completed Date started I_ I_ What I learned from this exercise about how I spend my time Question: How far is my thinking and behavior led by the entrepreneur....24 ..Action . and how far is it still driven by the manager and the technician? Question: To what extent am I functioning as if I own a job.Ste p..........11.

If you are planning to own a business. Tip Check your limits Picture yourself enjoying rising levels of wealth and abundance. not a job. About each one.. Now ask yourself in what ways you can better fulfill your purpose? Be as specific as possible Get in the habit of picturing the things you'd enjoy f do i ng if you were financially free. Be as detailed and specific as possible Own a Business — and a Life f Leff Burrows 6 . Try to identify the highest purpose that feels true to you Ask yourself haw completely you are fulfilling your highest purpose today Imagine again that you have all the money and time you desire. ask: "do I know this is true for sure?" Imagine you are asked by someone you respect and admire: "What is your purpose on this planet?" Answer in a few short and simple words. including you. you need to listen to your heart. is ready to be wealthy right now In reality many business owners are locked into a mindset of hard work and small returns. Notice at what point you feel uncomfortable or "that's not like me" Write down all the negative ideas you have about being extremely rich and free not to work. You may believe that everyone. educate your mind and have intention for a level of affluence and freedom you are not accustomed to — before it manifests. rosperity Consciousness Purpose Prepare yourself to achieve wealth through business ownership. This pattern often results from early childhood impressions of parents and other adults. And that's exactly what they experience. Here is an exercise to help you begin.25 Identify your beliefs Name your purpose Check your current life against your purpose See what difference money and time can make Stretch your fun muscles .Acti on (.

as I see it today How wealth and freedom can help me live my purpose Fun things that would come from being financially free Own a Business — and a Life I Jeff Burrows 6.Action (Ste 1.26 . Self Repor( osperity Consciousness I_ I Date completed I Date started Where my mental limit on wealth and abundance lies The negative beliefs I have held about being rich My highest purpose.

Take a moment to register every one of your wins.Some actions are one-time or infrequent events. Reread it. which always references the Position Agreement At least monthly Employee Development Meeting Every two weeks Life creeps up on us and priorities get lost.27 . big and small Weekly Celebrate Daily Own a business — and a Life Jeff Burrows 6 . and optimistic This is the all important accountability check. Time for another Stop Doing List! A celebration can be everything from a full-scale party to three deep breaths. and visualize what it means Frequency Review the Vision Weekly "State of the Company" Gather your team and tell them how the company is doing. Each employee should have a regular EDM. relative to the vision. Others must be repeated regularly. think about it. Here you'll find the steps that need constant attention. Be honest. Action Note Your vision is only powerful if you keep it in your sights. Then the Stop Doing List urgent takes over from the important.

-7 You Sleep Dr.Mon While . Doll de Roos Why Real Estate Choose a Real Estate Strategy Set the Stage for Investing Choose Your Property Focus Select a Real Estate Agent Finding Properties Inspecting Properties Key Terms Preliminary Deal Evaluation Submit an Offer Create a Proposal for Finance Prepare for Property Management .

In this period. and you will begin to learn how to analyze a deal. All of this preparation will bring you closer to the essential step of submitting an offer for an investment property. You will also be introduced to the process of raising finance for your investments. Dolf de Roos 7 .2 . _aex eCtfrom this program This program will introduce you to the fundamentals of investing in real estate with the goal of creating passive income. My Outcome I am studying Money While You Sleep because My strengths in this subject include Topics where I can most usefully focus include My 90-day outcome from studying this segment is Money While You Sleep l Dr. Understanding key terms is essential.What. you'll learn why real estate investment is such a powerful vehicle for creating wealth. The specific 90-day objective is to prepare you to submit your first offer. You will be assisted in choosing which aspect of real estate to focus on and you will start looking at properties.

like making offers. Place check marks in the chart below to reflect the positive aspects of the different forms of investing. One way to uncover the value of real estate is to research how the rich get rich. and what they do with their money. Ask wealthy people you know. Dolf de Roos 7 . Investing in real estate for the first time requires more than learning new information. that some people find challenging.Action Step Rea1 Estate Purpose Tip Make your own assessment of real estate as a wealthcreation vehicle. Real Estate Stacks & Bonds Collectibles Banks will readily lend you money to invest You can easily acquire 10 times (or more) the value of your cash investment You can beat the market average by doing some research You can increase the value of your investment by improving it You don't have to sell to get cash out The government gives you tax breaks for investing Money While You Sleep I Dr. Understanding the wealth-building power of real estate will help motivate you as you undertake this adventure. Another useful task is to compare real estate with other popular forms of investment. or use the Internet to find what a huge role real estate investment plays in the lives of affluent individuals.3 . You'll have to do things.

Dolf de Roos 7 4 . on a scale of 1-10 If your level is less than 10. See if the level has changed! Money While You Sleep 1 Dr.Action Step Self Report„ Rea l Estate Date completed _ 1_ Date started _ 1_ I_ What I learned from studying the value of real estate as an investment tool What I learned from speaking with and/or reading about wealthy people (including Donald Trump) What most interested or surprised me when I compared real estate with other investment vehicles My level of commitment to investing in real estate. re-check this after a few weeks of studying this program.

fix up and sell). DoIf de Roos 7 .1 11 Purpose Tip Decide which kind of real estate investment you wish to commit to. or browse the Internet. you are advised to commit to one strategy — at least to begin with. In this program.5 . If you look in any bookstore. The Strategy Taught Here • • • • • • Buy a cash flow positive property to hold long term Earn rental income from your investment Pay the mortgage and other expenses from the income The difference between rent and total cost is passive income Periodically raise the rent When the value appreciates. or browse the Internet. To be successful. "wraps" (vendor financing at a profit) and investment in raw land. Other strategies include "flipping" (buy. we focus on one strategy which is specifically designed to create growing streams of passive income.Action Step 2 hoosea Real Estate Strategy . you will see numerous kinds of real estate strategies discussed. To learn more about them. refinance and reinvest Advantages • • • • Minimize capital gains tax by holding long term Enjoy tax advantages from owning real estate Generate multiple. and increasing. Make a clear decision about your chosen strategy before you begin. visit a library or bookstore. streams of income Obtain tax-free cash bonuses from refinancing Money While You Sleep I Dr.

Action Step 2 Self RepOrt oose.6 . in which case I will seek out competent educators on that approach My long-term financial goals for real estate investment My primary reason for this goal — how it will impact my life Money While You Sleep Dr.a Real Estate Strategy Date completed I_ I— Date started What I learned from reviewing possible strategies What attracts me most about the strategy taught here My strategic decision (check one) 1=1 To adopt. Doff de Roos 7 . study and act on the strategy taught here u To use a different strategy.

Stand your ground. The other is to join a local real estate investor's association. One word of warning: each investor tends to be passionate about his or her approach so you will hear many arguments for changing your strategic focus. A real estate investor's association is a great place to find comradeship. To be successful in real estate. mentorship and valuable information — for example. Stick to one strategy until you have bought at least three properties. The business card tells people you deal with that you are serious and professional. and that you are in this for real.Action Step 3 et the „Stage for Investing Purpose Tip Think and act like a real estate investor before you actually buy a property. USA Tel 123 456 7890 Money While You Sleep I Dr.7 . Confidence is something you can start developing now. One is to create a business card for your new endeavor. Two suggestions are offered here. from study and practice. you need to build competence and confidence. Competence comes in time. by educating your sub-conscious mind to adopt the role of the successful investor. Sample business card layout Michael Money Real Estate Investor Specializing in single family homes 123 Millionaire Row Mytown. Dolf de Roos 7 . regarding real estate agents or finance sources.

Doh' de Roos 7 . for investing Date started I I Date completed What I have learned from joining a local real estate investor's group Useful resources or people I have discovered by joining this group My business card is now printed (check) Money While You Sleep I Dr.M._ 1-2"+.4 Action Step 3 Self RepOtt .....pet-the-Stage J'.}P $:.B .L.

insurance and maintenance • As business owners. Here are just some of the choices. Residential • Single family homes (detached houses) • Duplex or fourplex (semi-detached in various multiples) • Apartment complexes (flats) Advantages of residential • Ideal for the beginner: You know what to look out for and how to identify common problems Commercial • • • • Retail (stand-alone stores.9 .) Office buildings Industrial buildings Specialty commercial property Advantages of commercial • Tenants tend to pay more of the expenses. strip malls. Be familiar with these terms and their equivalents in your chosen investment country. We use here American terms as well as other international terms. Doff de Roos 7 . etc. Once you have chosen the strategy to buy. there are still decisions to make about which kind of property to focus on. tenants have longer term leases and are more motivated to care for the property than residential tenants Money While You Sleep I Dr. hold and rent.Action Step 4 ooseyour Property Focus Purpose Tip Decide which kind of property you plan to invest in. such as property taxes. if outside the USA.

A Action Step 4 /N4 Self Repott opnyour Property Focus Date started I Date completed I My choice of property focus (check one) u Residential u Commercial Reasons for my choice My choice of specific property type (e. Doff de Roos 7 -10 . single family homes) Reasons for my choice My current level of knowledge about this kind of property How I will learn more Money While You Sleep 1 Dr.g.

Action Step 5 &Luta Real Estate Agent -sr Purpose Tip Select a real estate agent who understands and supports your investment goals." "All our properties are good investments. Doff de Roos 7 . Personal rapport is important in selecting your real estate agent. your agent must understand your investment strategy. This needs to be someone who works with investors. Question to ask the real estate office receptionist "Who in your office specializes in real estate investment?" Good answer: Bad answers: "Yes." "We don't really do much investor stuff. Your real estate agent can prove the most essential member of your investment business team. this can make the difference between getting and missing a deal. A skilled and supportive agent will always be on the look out for exactly the kind of deals you seek." Money While You Sleep I Dr.. and will be quick to alert you when an opportunity appears. that would be. Equally important." "All our agents specialize in investment. and/or is a real estate investor themselves. What do you have on your books that would be a good investment?" Good answer: Bad answer: "Sure.. Especially in a fast-moving market.11 . this property is good because..." Question to ask a real estate agent "I'm focused on such-and-such type of property.

Doff de Roos 7 .Action Step 5 Self Repott va( "m la Real Estate Agent Date completed I Date started I_ What I learned from choosing my real estate agent Number of real estate agents I interviewed before making my choice Reasons I made the choice I did What I have asked my real estate agent to look for Money While You Sleep 1 Dr.12 .

The most important principle here is that you need to look at many deals in order to achieve one truly profitable purchase. because this is where you identify the elements of the deal — the numbers.Action Step 6 "_ i ndingf Properties Purpose Tip Become familiar with the essential task of finding large numbers of potential deals. you cannot fail to come across significant opportunities for profitable investment. Visiting properties is addressed in the next action step. The 100/10/3/1 Rule 100: Look 10 : Offers 3 : Accepted 1 : Purchase Look at 100 property deals Submit offers on 10 Expect 3 offers to be accepted Expect 1 to pass all levels of approval including finance and ultimate purchase Where to Find Properties • Newspaper ads (especially Wednesday and Saturday or whatever the strongest days are in your city) • Real Estate free magazines (often found in supermarkets) • Online real estate listings • Real estate agents Money While You Sleep I Dr. Dolf de Roos 7. By following this rule consistently over time.13 . The other is to physically visit the property. There are two levels to seeking properties: one is to get information on paper or online. Here we apply what is called the 100/10/3/1 rule. The first is more important.

0.Action Step 6 Self Re pert . I am committed to finding in the next 90 days What I have learned so far from searching for properties properties For the properties that interest me. 4W214. the best sources are The five most interesting properties I have seen to date Money While You Sleep I Dr.150 in&Properties Date completed Date started Given the 100/10/311 rule. Doff de Roos 7-14 .

You are looking to buy the highest value at the lowest price. Good problems are superficial faults that may put off other buyers or reduce the price. so you need to know the rental market for the area you are buying in. Respect the limits of your knowledge — unless you are a construction expert.Action Step 7 ns ecting Properties Purpose Tip Physically inspect properties that interest you. Research rent levels in the area. Park your car and watch the street for 20 minutes. Money While You Sleep I Dr. Doff de Roos 7 . pay for a professional inspection. not what you like. you must understand the difference between good problems and bad problems. Drive the neighborhood.15 . Welcome "good problems" that will enable you to increase the value. Talk to neighbors and local store owners. Ask local real estate agents and property managers. Select a specific neighborhood to focus on. Guidelines for Looking at Properties Get your emotions and your aesthetic preferences out of the way. a purchase for investment is purely a business decision. Your intention is to rent the property out. but can easily be fixed. and a poor rental market. Bad problems include repairs that are beyond your means to handle. and vacancy rates. Unlike buying a home for your residence. Focus on what local tenants will like. and check local rent ads. a declining neighborhood. As for the property itself.

I successfully set aside my personal preferences.Date started 1_ Date completed I. Doff de Roos 7 16 . What I learned from my first visits to properties On my first visits. and focused on the objective opportunities u Yes u No Property inspection (check one) u I am a trained construction expert u I will be hiring a professional inspector What I learned from driving the neighborhood What I learned about rent levels and vacancy rates Money While You Sleep I Dr.

insurance. To gain mastery of the terms. repairs Percentage of units vacant over a 12 month period Money While You Sleep I Dr.Action Step 8 . Appreciation As is Cap rate Cash flow Cash on cash return Contingency Counter-offer Depreciation Effective gross income Gross income Gross rent multiplier Mortgage Net operating income Operating expenses Vacancy rate Increase over time in a value of property Sold without guarantees as to condition Net operating income divided by sales price as a % Net operating income minus mortgage payments Total cash flow divided by total cash invested A condition that must be met before a contract is binding A rejection of an offer that is combined with a new. expand your reading beyond this program and talk to fellow investors at your real estate investors club. Terms ^ Purpose Tip Learn some of the most important terms needed to evaluate a deal. alternative offer Decrease over time in a value of property Gross income minus vacancy Rents. This "dictionary of terms" gives you an introduction to the language of real estate investment. utilities. management fees.17 . laundry facilities and other income Sales price divided by grass annual income A lien against a property given by a borrower to a lender as a security for a loan Gross income from property minus all operating expenses (except mortgage payments) General expenses such as taxes. maintenance. Doff de Roos 7 . It is to your advantage to understand these terms as well — or even better — than the people you will negotiate with.: -Key.

Action Step 8 Self P4'11 S Date started I Date completed l In the Mindset for Success audio. Dr. Appreciation As is Cap rate Cash flow Cash on cash return Contingency Counter-offer Depreciation Effective gross income Gross income Gross rent multiplier Mortgage Net operating income Operating expenses Vacancy rate Money While You sleep l Dr. Doff de Roos 7 .18 . Burns says information is truly learned when you can use it without thinking about it. Use this principle when talking to your investor friends.

which is one reason we advise the use of a quality software package for your complete evaluation. However. Real estate investing is a numbers game. there are a few essential numbers that you can quickly calculate.Action step 9 reliiiiiinary Deal Evaluation Purpose Tip Decide whether a deal is worth a complete evaluation. Many factors come into play.19 . This is your "back-of-anenvelope" real estate investment calculator. DoIf de Roos 7 . You will need to determine what your minimum return levels need to be as part of your successful investing criteria. These will tell you whether the deal is worth analyzing further. Refer to the worksheet on the following page. and the goal of evaluating a deal is to assess whether the return is worth the investment. Money While You Sleep I Dr.

20 .Action Step 9 Worksheet' Deal Evaluation Preliminary Deal Evaluator Property Details Address Type Size — Sq Ft Asking Price Downpayment Mortgage details Income Rent & Other Income Less vacancy allowance = Effective Gross Income Expenses Insurance Real Estate Taxes Landscaping & Maintenance Water / Sewer / Electrical Other maintenance = Total Operating Expenses (b) $ Performance Analysis Net Operating Income (a b) Less mortgage and debt service = Cashflow Cash on Cash return Gross Rent Multiplier CAP rate Notes (a) $ Money While You Sleep I Dr. Doff de Roos 7 .

Doff de Roos 7 .ort relimnary Deal Evaluation I Date started Date completed ____ I Number of properties I have reviewed so far using the Preliminary Deal Evaluator What I learned about real estate investment from doing several preliminary evaluations The five best deals l have uncovered so far Property Why (in numbers) Money While You Sleep I Dr.Action Step 9 Self Rep.21 .

if you never submit an offer. Bums. Possible Contingencies Clauses you can use in your offer • This contract is subject to finance suitable to the purchaser • This contract is subject to the approval of the buyer's attorney • This contract is subject to the approval of the purchaser's spouse • This contract is subject to the purchaser's approval of an inspection report • This contract is subject to the purchaser's approval of an environmental report Note: These suggestions are for educational purposes only. See note below. Others may find it quite anxiety-provoking.22 . Remember you can create a psychological impact by stapling a check for an amount of earnest money to your offer. Money While You Sleep I Dr. Ask your real estate agent to explain anything you don't understand. you will never become a real estate investor. should you choose. This may be a good time to listen again to the Mindset for Success audio CD with Dr. Consult your real estate and/or legal professionals before conducting any actual transaction. Doff de Roos 7 .Purpose Tip Take the critical step of submitting an offer on an investment property This step is the climax of your 90. Some possible insertions are listed below.day introduction to real estate investment. Some people will find it an easy and exciting step. Remember. We recommend you include a contingency clause in your offer that allows you to withdraw your offer in any real estate deal. You can insert any contingencies you wish. Most likely. Prepare by obtaining a standard offer form and read it carefully. your real estate agent will write the actual offer for you to sign.

Dolf de Roos 7 .Action Step io Aci p Self ReportS ubmit Date started _____ 1 I— an Offer Date completed 1 I What I learned from studying an offer form Contingencies I decided to include in my offer How I felt when submitting my offer The result from submitting my offer Money While You Sleep I Dr.23 .

staple your business card to it and take it to 10 different banks. Once you have a deal in your hands. create a short Proposal for Finance that summarizes the features and strengths of the deal. Introduce yourself as a real estate investor and ask what services they can offer. You can begin building relationships with financial sources from the outset. Make 10 copies of your Proposal. For each property you are bidding on. Tip Money While You Sleep I Dr. you can tell each of them you are talking to other financial sources. a Proposal for Finance will separate you from other applicants who merely fill out the bank's own forms. The exact contents of your proposal will depend on the specifics of the property. Dolf de Roos 7 -N .Action Step xz w reatea Proposal for Finance Purpose Create a document that presents your investment opportunity to financial sources in an attractive and professional manner. To peak their interest.

Doff de Roos 7 .25 .Action Step 11 Self Rep. Ae.O4 . a--e-ta Proposal for Finance Date completed I I Date started 1 What I learned from talking to potential finance sources ahead of presenting my first deal Financial institutions and professionals that seem most likely sources of finance How financial professionals responded to my Proposal for Finance and what I learned from this Money While You Sleep I Dr.

26 . This will motivate your managers to serve you well as you acquire new properties.Action Step 12 -1. Our advice is that you manage your own properties to begin with. However. and will give you much more authority and insight when hiring property managers in the future. it is never too early to talk to property managers..4T: . prepare for Property Management Purpose Tip Prepare to own an income-producing property. Doing it yourself is a good way to understand the real-life issues of property management. These conversations will help you select the best managers when the time comes. how do you manage an eviction? • What are your fees? Money While You Sleep I Dr. Doff de Roos 7.. and will also add to your education about property management and investing. When you have several properties. it is wise to use more than one property management firm and let that be known. Questions You Can Ask Property Managers • How do you attract new tenants? • What steps do you take to retain tenants? How do you keep them satisfied? • How often do you inspect the property? • Who handles day-to-day repairs and maintenance? • What do you do when a tenant is in arrears with rent? • When a tenant is seriously in arrears.

Action Step 12 7:: Self-Repiif repare for Property Management Date started I Date completed I I Property managers I have interviewed. Doff de Roos 7 .27 . with comments: What I learned from talking to property managers How I will apply what I have learned to managing my own properties Money While You Sleep I Dr.

Others must be repeated regularly. You will players learn something new every time. Frequency Education Continuous Find properties At least twice per week Drive neighborhoods Weekly Keep talking to real estate agents. real estate web sites and reports from your real estate agent and investor associations to hit the "100" part of the formula as often as possible. talk to other real estate investors and regularly check the Trump University web site. Study newspapers. Read books. Some actions are one-time or infrequent events. including a commitment of your time and the ongoing repetition of actions to create a successful outcome. As well as armchair research.Ongoing Actions-A— Becominga real estate investor takes considerable commitment. It cannot teach you everything you need to know. At least two interviews a month Money While You Sleep I Dr. Action Note This program is an introduction to real estate investment. Dolf de Roos 7. Here you'll find the steps that require your attention. Remember the 100/10/3/1 rule. you need to get out there and look at properties and neighborhoods. 29 . financial sources and Interview team property managers.

plan just one of the content modules." And remember Donald Trump's advice: "Never give up." Tip 1 Probably the worst way to use this program is to listen to all the audio CDs in succession. Done that? Then it's time to plan. There are two stages — first your 90-day tour of the entire program. Repetition is the route to riches! Tip 2 Master Plan I Study Guide 8 -1 . and when that is finished. you will find yourself repeating the first one or two action steps that you did during the tour. Don't try to complete all this planning in one go. listen carefully to Dr. Work thoroughly with one audio CD for at [east two weeks before proceeding to the next. First. After the 90-day tour you will return to individual modules to engage them with more depth. Begin with the 90-day tour. Then listen again to the audio CD Mindset for Success. Use the pages that follow to set yourself due dates for completion. If you fall behind. This is good. In fact. again revisit Mindset for Success and listen to Dr. You can listen to them all together at the review stage. How To Use This Workbook. Burns on the topic 'when life exerts itself. Burns and you will hear her advising you to repeat all the action steps several times. When you do. Then 90 days on each of the content modules.My Master Plan Use this section to plan your pathway to success through The Wealth Builder's Blueprint. re-read the section.

financially or otherwise. This may seem self-evident. Make both the target and the time frame exciting and inspiring — but also realistically attainable. For the "why". then quantify your target and set a date. "Get wealthy" or "Be a billionaire" won't take you very far. or the lives of those you care about? Write this down. There are two simple components: what you want to achieve from this program. As outcomes. What will success in this area do for you? How will it enhance your life. but actually different people have different motivations. give yourself reasons for acquiring wealth. create them in your mind. Specify what "wealth" means to you.The Results Page Before you create your outcomes in reality. and why you want to achieve it. You need to connect with yours and make it fully conscious.2 . My outcome for this program is I will achieve this by 1 am committed to this outcome because Master Plan I Study Guide 8 . For the "what" be as specific as possible.

taking notes Listen to audio CD Money Mastery Listen again. taking notes Complete at least one action step Listen to audio CD again Watch the DVD Listen to Mindset for Success Listen to Money Mastery Review Listen to Powers of Persuasion Listen to Career Champion Listen to Own a Business — and a Life Listen to Money While You Sleep Master Plan I Study Guide 8-3 . taking notes Complete at least one action step Listen to audio CD again Listen to audio CD Powers of Persuasion Listen again. taking notes Complete at least one action step Listen to audio CD again Listen to audio CD Money While You Sleep Listen again.The go-Day Tour Due Date DVD: Donald Trump Speaks Mindset for Success View video Watch interview again. taking notes Complete at least one action step Listen to audio CD again Listen to audio CD Own a Business — and a Life Listen again. taking notes Listen to audio CD Read transcripts Listen again. taking notes Complete at least one action step Listen to audio CD again Listen to audio CD Career Champion Listen again.

4 . taking notes Review Mindset for Success Complete Action Step 1 Complete Action Step 2 Complete Action Step 3 Complete Action Step 4 Complete Action Step 5 Complete Action Step 6 Complete Action Step 7 Complete Action Step 8 Complete Action Step 9 Complete Action Step 10 — The Cost of Ignorance — Key Terms — Assets & Liabilities — Net Worth — Income Analysis — Financial Statements — Goal Setting — Wealth Creation Basics 1 Earned Income — Wealth Creation Basics 2 Business Ownership — Wealth Creation Basics 3 Real Estate Investment — Your Financial Team — Overcome Your Likely Roadblocks Complete Action Step 11 Complete Action Step 12 Master Plan I Study Guide 8 .Money Mastery 90 Day Program Due Date Listen to audio CD Listen again.

Powers of Persuasion 90 Day Program Due Date Listen to audio CD Listen again.5 . taking notes Review Mindset for Success Complete Action Step 1 Choose Your Project — Complete Action Step 2 Complete Action Step 3 — Identify Your Strengths — Establish Your Outcome Complete Action Step 4 Complete Action Step 5 — Understand the Prospect — The Unique Selling Proposition — The Locus of Power — Prepare & Rehearse Your Presentation — Support Materials Complete Action Step 6 Complete Action Step 7 Complete Action Step 8 Complete Action Step 9 — Getting Through the Door Complete Action Step 10 Complete Action Step 11 — Make the Appointment — The Presentation & the Close — Follow-Up Complete Action Step 12 Master Plan I Study Guide 8.

taking notes Review Mindset for Success Complete Action Step 1 Complete Action Step 2 Complete Action Step 3 Complete Action Step 4 Complete Action Step 5 Complete Action Step 6 Complete Action Step 7 Complete Action Step 8 Complete Action Step 9 Complete Action Step 10 Complete Action Step 11 Complete Action Step 12 — Plan Your Career — Focus on Strengths — Mentorship — Essential Skills — Leadership Feedback — Public Speaking — Make Connections — Make the Boss a Star — Create Added Value for the Company — Be a Volunteer — Establish Core Values — Your Goals & the Company's Master Plan 'Study Guide 8 .6 .Career Champion 90 Day Program Due Date Listen to audio CD Listen again.

taking notes Review Mindset for Success Complete Action Step 1 Complete Action Step 2 Complete Action Step 3 Complete Action Step 4 Complete Action Step 5 Complete Action Step 6 Complete Action Step 7 Complete Action Step 8 Complete Action Step 9 Complete Action Step 10 — Create the Vision — Steps to Reality — The Three Personalities — Create Systems — Organizational Structure — The Position Agreement — The Art of Accountability — Employee Development Meetings — Guerrilla Market Research — Treat Your Job as a Business — Create a Stop Doing List Complete Action Step 11 Complete Action Step 12 — Prosperity Consciousness Master Plan 'Study Guide 8 .7 .Own a Business and a Life 90 Day Program Due Date Listen to audio CD Listen again.

8 .Money While You Sleep 90 Day Program Due Date Listen to audio CD Listen again. taking notes Review Mindset for Success Complete Action Step 1 Complete Action Step 2 — Why Real Estate — Choose a Real Estate Strategy — Set the Stage for Investing — Choose Your Property Focus — Select a Real Estate Agent Complete Action Step 3 Complete Action Step 4 Complete Action Step 5 Complete Action Step 6 — Finding Properties Complete Action Step 7 — Inspecting Properties Complete Action Step 8 Complete Action Step 9 — Key Terms — Preliminary Deal Evaluation Complete Action Step 10 Complete Action Step 11 — Submit an Offer — Create a Proposal for Finance Complete Action Step 12 — Prepare for Property Management Master Plan I Study Guide 8.

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