Rich Woman, Kim Kiyosaki, talks about the different people and personalities you need to be aware of in today’s world. This quadrant will help bring awareness, and possibly, provide a strategy when talking to the different people who fall within this quadrant.
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Well, here I go again, sharing random thoughts with unsuspecting souls who happen to have clicked on this article …this is your lucky day! Because in the next few short paras I will be putting across the single most important learning I’ve had in 20 years of business and industry. And here it is…
If you are in business, and you are not operating a System, you are indulging in a criminal offense against your family, your personal life and the future of your kids. Sorry if that’s harsh, but indulge me on this.
A System is a process by means of which work happens without constant need for direct personal interference. It may not have occurred to you, but the most successful and profitable business empires in all of the world are all built around ‘Systems’ otherwise they fail… miserably.
McDonalds – System
Starbucks – System
Subway – System
(800) Flowers – System
Dominos Pizza – System
So if you are in business and ‘doing it your way’, here’s what you are missing… the hidden code…
S.Y.S.T.E.M. = Save.Your.Self.Time.Energy.&Money.
A team-mate of mine thought this acronym was SEXY and that’s when it occurred to me… that as a T.E.A.M. (Together.Everyone.Achieves.More), by following the S.Y.S.T.E.M., we Save.Everyone.Xtra.Years… and that is indeed S.E.X.Y.!
So how about you? Would you still do it your way or subscribe to a System? Whether your work is online or offline, there are Systems that make work more effective and efficient and you need to pay a price for them… but you receive exponentially larger realizations from your work output.
For those still skeptical, I would recommend the book, “Cashflow Quadrant” by Robert Kiyosaki. For me this book is like a bible for it changed my entire approach to realizing my dreams through my work. What will it take for you to realize your dreams?
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posted in Financial Literacy | 0 Comments
The bears, it seems, are now queueing up to warn that the remarkable rises in nearly all assets in 2009 is likely to end in another crash.
Today The Economist stepped forward. It says low interest rates have persuaded investors to seek out better returns, buying ‘risky assets’.
On shares…
It warned that the US market is still ‘nearly 50% overvalued on the best long-term measure, which adjusts profits to allow for the economic cycle, and is on a par with two of the four great valuation peaks in the 20th century, in 1901 and 1966.’
On house prices…
The Economist says American homes are priced at around fair value on the basis of rental yields, but that British homes are overvalued by almost 30% – and by 50% in Australia, Hong Kong and Spain.But not a bubble yet…
Today’s leader column also points out: ‘Two classic symptoms of a bubble are rapid growth in private-sector credit and an outbreak of public enthusiasm for particular assets’ [when a cab driver is giving you share tips or telling you about the gold bullion under his bed] ‘There’s no sign of either of those. But the longer the world keeps its interest rates close to zero, the greater the danger that bubbles will appear.’
It suggests emerging markets and commodities are the most likely candidates for bubbles. That will be resisted by believers of the commodities ‘super-cycle’, such as legendary speculator Jim Rogers, a former investment partner with billionaire George Soros. [Jim Rogers on why Britain's economy is doomed]. He expects the price of gold to nearly double in the next decade, despite already rising four-fold in the past decade.
Interest rates threat
The biggest threat to the elevated levels of assets such as shares and property is a rise in interest rates. But The Economist observes that if world economic growth is slow and then rates won’t need to rise – but profits (and wages) won’t rise fast enough to justify inflated shares prices (and house prices).
If, on the other hand, economic growth, bounces back then rates would have to rise sharply.
‘It doesn’t add up’ – and that’s before you even get on to the issue of the colossal debt problems facing Western nations.
The Economist concludes:
‘Investors tempted to take comfort from the fact that asset prices are still below their peaks would do well to remember that they may yet fall back a very long way. The Japanese stock market still trades at a quarter of the high it reached 20 years ago. The NASDAQ trades at half the level it reached during dotcom mania. Today the prices of many assets are being held up by unsustainable fiscal and monetary stimulus. Something has to give.’
Chilling stuff. This blog and others have made similar warnings. The correction may not be tomorrow, but it will come…
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posted in Financial Literacy, Investment, Real Estate | 0 Comments
Jim Rogers says the world’s leaders have got the solution completely wrong. He joins us now from his office in Singapore.
Jim Rogers thanks for taking the time to talk to us. Now, Warren Buffett said today that the US economy has ‘fallen off a cliff’ and that the next problem will be sky-rocketing inflation. Is he being overly pessimistic?
JIM ROGERS: No, he’s exactly right. I’m glad Warren finally caught on to what’s happening because it’s going to be much worse than he says. He says it can’t get any worse, this is the worst case scenario, he’s wrong it’s going to get worse.
ELEANOR HALL: How much worse?
JIM ROGERS: Well it’s certainly going to be the worst since the ’30s and it looks as though it’s going to be as bad as the ’30s; at the end of six months it might even be worse than the ’30s.
It is staggering to me how bad the politicians are handling this and they’re just making it… for two years they’ve been trying to do something and everything they do makes it worse – it’s mind-boggling.
ELEANOR HALL: Well, Mr Buffett is urging politicians in the US to get behind the President and his stimulus packages, but you’re saying that the policies of the US and indeed the UK and Australian governments are actually making things worse – why?
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posted in General Finance | 1 Comment
Demand for gold has surpassed that during the panic-stricken period following the collapse of US bank Lehman Brothers in October 2008.
At this time many believed the global banking system was finished.
Turmoil in the eurozone has now pushed markets into yet more panic. Fears of unmanageable public debts, inflation and sluggish growth have created an uneasy backdrop in which gold flourishes.
How do you invest in gold, if you want to? And – a harder question – will the price rise yet further?
Invest in ‘proxy’ gold
You can’t touch or see proxy gold holdings, so you need ultra-reliable assurances from your dealer and storage firm that your gold is there.
BullionVault.com is a service that in five years has attracted 18,000 investors now owning 19.3 tons of gold (worth £510m) and 50.6 tons of silver.
Run from west London, it uses high-tech trading platforms to unite buyers and sellers. This means investors get live prices and, crucially, can set the price at which they are prepared to sell or buy.
Investors can buy ‘portions’ of gold – worth as little as £100 – paying a dealing commission of 0.8% per trade (the same rate applies to sales).
The sliver of gold bought with £100 is part of a larger bar which BullionVault stores on investors’ behalf.
Every day, BullionVault publishes lists of investors (using pseudonyms) and their holdings – verified by an independent firm storing the gold, Via Mat. All individual holdings recorded at BullionVault must tally daily with the gold in Via Mat’s vaults.
Retired accountant John Whitehead has been keen on gold since Gordon Brown chose to sell half Britain’s gold reserves in 1999 at prices which John then thought were low. He was right. Gold has since quadrupled in value.
John, in his mid-50s, says: ‘Until recently there was no easy way to invest in gold. I bought coins but was worried about storage and my ability to sell easily.’
He made his first investment in BullionVault in 2008, when gold was half its present value, and bought small chunks of gold to protect himself against short-term price lurches.
John, who lives near Ipswich in Suffolk, says: ‘My aim is not to trade actively, but to buy and hold, taking profits when it seems right and investing again if prices fall back.’ But getting the timing right is hard, he admits, adding: ‘I wish I’d invested more.’
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posted in Investment | 1 Comment
Building self-confidence is the theme for myriad publications but, distilled to its essence, is confidence more than a belief in one’s own ability to persevere against the odds, prevail against conventional wisdom, or determining that you have the “stuff” to succeed? I suppose it is a matter of opinion. My wise mother often said, “confidence is believing in yourself and your ability to make difficult decisions.” That works for me. Maybe it will for you as well.
There is no need to lie on a couch to explore the inner recesses of your mind unless a lack of self-confidence is an indicator of something more profound, thus requiring more professional help. Here is what I have learned over time and share with others:
? Think positively, especially now. Most of the news about the economy is negative and it is challenging not to lose hope.
? Imagine yourself prosperous, even when you are not. Dreams are powerful and hope is a source of energy. Hope is often all that stands between despair and recovery.
? Perform due diligence: do your research and focus on opportunities. Everything is cyclical, especially in our economy. For every downturn, there is the inevitable rebound.
? Assume that without taking risks, there is no gain.
? Set flexible, achievable goals.
? Remain focused on your opportunities, not the barriers to your success.
? Never give up! Success is attitudinal, acquiring knowledge, and being coachable. The rest is hard work.
It is difficult for some to adopt what Robert Kiyosaki, Donald Trump, and others call a prosperity-focused mindset because too many of us have been employees. Each of us, however, has thought about having the time and the freedom to do what we want, when we want, and with whom we want. That is all that that term means. If that is your goal, take the next step and do your research.
Good information helps to build and sustain self-confidence when it helps us to understand we can make choices, exercise options. Fortified by good information, act in your own best interest: look at companies with great track records and start to leverage your skills, your knowledge, and the low entry costs in the multi-level marketing industry. Become your own boss. You can not afford to doubt yourself then.
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