FinancialSuccessStrategies_Bonus_BrianTracy.pdf

Financial $uccess

REPORT

$trategies

B y B r i a n T r a c y

W e are going through an unusual and sometimes scary time in the inancial world, both in the U.S.

and worldwide.

We have been here before. Approximately every 10 years, there

is a inancial reversal. In 1907 there was a inancial panic during

Approximately

every ten

years, there

is a financial

reversal.

which J.P. Morgan personally wrote a 500 million dollar check to

bail out the U.S. Government.

In response to concerns, he said that “The market will luctuate.”

To become a top economist, all you have to do is predict growth in

America. You will be right, 80% of the time.

Recessions last 6 - 16 months. The free market readjusts the value/prices of homes and stocks, like a

store that has a clearance sale, and business gets back to normal at the new, more realistic prices.

The subprime mortgage meltdown was triggered by government regulations that forced banks to make

“Ninja Loans”, to people with “no income, no jobs, no assets, and no credit rating, for nothing down.”

The current situation is a result of this government regulation from Washington.

The four most profound words, always true, under all circumstances, throughout history, are “this too,

shall pass.”

Kenneth Fisher, the billionaire investment expert asks, “How do you make money in the stock market?”

Answer: “Buy when stocks are low, sell when they are high.”

But what do most people do? The opposite. They buy when stocks are high and sell when they are low. It

is the same in real estate, especially today with so many foreclosed homes for sale.

The starting point of dealing with any inancial turbulence is to stay calm .

1 Get the facts - asked questions - don’t overreact.

2 Think on paper - do an exact analysis of your current situation:

a) How much do you have? How much are you worth today?

b) How much do you earn? Monthly? Annually?

c) How much do you owe? Overall? Monthly?

d) How much are your monthly expenses? How much does it cost you to live if you had

no income at all?

e) Where can you start to cut back, save money immediately?

f) Whatever steps you would take under the worst possible conditions, take them now.

3 Make a written inancial plan to get your inances under control.

4 Resolve to get out of debt, and stay out of debt.

5 Make a decision to become pro-active, to become inancially independent in the years

ahead.

Here is the good news: With 5% of the world’s population, and 5% of the world’s landmass, the United

States produces 30% of the world’s gross national product and contains 50% of the world’s wealth.

The United States has created more millionaires, multi-millionaires, billionaires and multi-billionaires in the

last few decades than all the rest of the world put together, throughout history.

In 1900, there were 5,000 millionaires in the United States, most of them self-made. By the year 2000,

there were 5,000,000 millionaires in the United States, an increase of one thousand times! In 2004, the

number of millionaires in the US jumped by more than 2,000,000, an increase of 33%, the largest expan-

sion of personal wealth in the history of man on earth. And if anything, even more millionaires are going to

be created in the years ahead.

The United States today has a $13 trillion economy that is grow-

More than

2,000,000 new

businesses are

formed each

year in the US.

ing by approximately 500 billion dollars per year. The average

income in the US of $42,000 per year is the highest in the world

and continues to grow at 3% - 5% per annum.

According to the OECD of Paris, the United States is the “Most

entrepreneurial country in the world.” More than 2,000,000 new

businesses are formed each year in the US.

More people are making more money in more different ways

than ever before. More people will become inancially independent, if not self-made millionaires, in the

next few years than in the last 200 years.

Your goal should be to become one of them. In this Teleseminar, you will learn some of the most impor-

tant of all principles of wealth creation.

My Own Story

I came from a poor family that struggled with money all my young life. I didn’t graduate from high school.

After I left high school, I worked at laboring jobs for several years, washing dishes, stacking lumber, car-

rying construction materials on building sites, digging wells, working on the production line in factories,

working on farms and ranches, and even working as a galley boy on a freighter in the North Atlantic.

In my early twenties, I began asking, “Why is it that some people are more successful than others?”

Perhaps the biggest breakthrough for me was the discovery of the “Self-Concept.” I learned that you al-

ways perform on the outside based on the way you think about yourself on the inside. As you change your

self-concept, your idea of yourself, your external performance and results change as well.

In short, “You become what you think about, most of the time.”

What do self-made millionaires think about? Many thousands of self-made millionaires have been studied

and interviewed. Most self-made millionaires seem to have certain qualities in common:

1 . They think long-term. They make efforts and sacriices in the present in order to achieve

inancial independence 10 and 20 years in the future.

2 . They practice frugality, frugality, frugality in their inancial lives during their prime earning

years so that they can achieve inancial independence as early as possible.

3 . They develop the habit of enjoying the process of saving and accumulating rather than

spending everything they make as they go along.

The key measure of how well you are doing is your “Survival Rate.” This is the number of months and

years that you could support your current lifestyle if you never worked again. Your goal should be to get

your survival rate up to 20 years.

Determine how much you need to live on each month and multiple that amount by 240 (20 years times 12

months). This then becomes your inancial goal throughout your lifetime.

The Key to Wealth Creation

The “Secret” of wealth creation has been the same throughout history: “Add value!”

The fact is that everyone works on commission. Everyone is rewarded by receiving a percent of the value

that they create with their work. The greater results that you get, the more value that you add, the greater

will be your “Commission.”

Most people start with nothing at the beginning of their careers. Virtually all wealth in America is irst gen-

eration.

Almost all wealth begins with the sale of personal services, with “Sweat Equity.” To achieve inancial suc-

cess, you must be continually seeking ways to add value to whatever it is you are doing.

• Always put in more than you take out.

• Always do more than you are paid for.

• Always go the extra mile. (There are never any trafic jams on the extra mile).

How to Add Value

1 . Make a list of everything you do over the course of a week or month at your job.

2 . Review this list and ask yourself, “If I could only do one thing all day long, which one activity

would contribute the greatest value to my business or my career?

3 . Once you have identiied the one activity that contributes the most value, ask the question

again, “If I could only do two things all day long, what would be the second item?”

4 . Once you have determined your top two tasks, ask the question again, “If I could only do

three things all day long, what would be the third?”

5 . In almost every case, your three key activities contribute 90% or more of all the value you

bring to your work. The key to success is for you to spend more and more time on those top

three tasks, and dedicate yourself to getting better and better at each of them.

80% of Millionaires

1 . 80% of self-made millionaires own their own businesses.

2 . Fully 90% of businesses started by people with business experience eventually succeed.

3 . Fully 90% of businesses started with no business

experience ultimately fail, at least in the short-run.

80% of

self-made

Resolve to start your own business today, even if it is

only a “Sole Proprietorship.”

millionaires

own their own

4 . Remember, “If you build it, they will come.” When you

start your own business, you will create a force ield

businesses.

of energy that will attract into your life opportunities to

activate this business.

5 . You can form a sole proprietorship simply by naming it after yourself. If you name it after

yourself, you do not even have to register the name to protect it. You do not need permis-

sion from anyone to start a sole proprietorship.

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