Special Report Habits For Success Money How to Make It Keep It Grow It! By DC Cordova Excellerated Business Schools/Money & You Program http:// Personal Habits Money Habits (including Financial Stewardship Habits) Personal Organizational Habits
Money Making Systems by DC Cordova with Carol Dysart - Habits for Success What is the difference between people with money and people without money...? H A B I T S In order to manage the systems covered in this book, start by noting the habits you have and if you can improve on them by making the following proven habits for success your own. If you can make them an automatic part of your business and life, you cannot fail. Personal Habits Handle Fear with Courage We all have fears but do have them? Or do they have you? Learn how to shift your perspective and take calculated risks. Know Yourself. Who do you think you are? What do other people see in you? What are your strengths and weak traits? Find out your personality style and tendencies and what style types you need around you to complement your style and balance your limitations. Find your Personal Purpose. What you value the most, what you would like to BE, DO and HAVE the most of in your life? What are you passionate about? What is your Life Purpose what you are here to do and be in this world? If you do not know, look for those things that are easy for you to do, but others tell you are extraordinary at doing. This is a good place to start. Allow yourself to be contributed to by a mentor. Are you coach-able? Or do you think you know it all already? Do you make it easy for others to teach and support you? (You do not HAVE to take their advice, but at least consider what they say as you look at all your options.) Find a Master. Find someone who has done what you want to do and has mastered the art of doing it well. Work with and support them. Learn what to do from them as well as what NOT to do. By making this investment early in your career you can save the time, money, and energy that starting on your own and being on the learning curve of trial and error will take you instead. you
Find good people to work with you. Once you get started and know where you are headed, learn how to put the right people in the right jobs and find a good assistant. Consider hiring retired people as well as young students or graduates. Many of them have run businesses in the past and will have tons of experience and know how. (You will give them a new lease on life too!) Find out what each of your staff members goals are and then help them to achieve these by working with you. Always explain your systems to your team. People will get confused if you do not... and they will start using theirs. Document everything and design your organization for change. Put things in writing agreements, job descriptions, expectations, and procedures. Let everyone who works with you have a copy of your Policies and your Rules of the Game. This will bring tremendous stability, simplicity and clarity to your workplace. It will help avoid confusion and eliminate mistaken assumptions - and the bad feelings - that go with them. This system alone will allow you to leverage yourself much easier. Provide good customer service internally and externally. Treat everyone who does business with you as if they are a lifetime customer. (They will be too, if you do this part well.) You will never regret it. Money Habits Spend most of your time on income generating activities. If we define the PURPOSE OF BUSINESS as the exchange of services for a profit, then what services are you providing? Does everybody know what you do? Anytime you are either promoting or selling, you will make money. Develop good money habits. Here is a great place to practice your ability to develop good habits. It is a step-by-step plan to support you in keeping and growing the money that you are now making (or about to make). When followed, these principles will ensure your financial security and independence.
Money Making Systems by DC Cordova with Carol Dysart - Habits for Success Money Dynamics There are three simple dynamics to money: You make it You keep it... You grow it! The biggest difference between people with money and people without money is their HABITS. If you were born into a middle class family, you may have developed very different habits than someone who was born wealthy. Consequently, when you start to make money in today s growing economy, your former habits may not help you keep and grow that money. Unless we have learned good money habits, most people s tendency is to spend our money as soon as we receive it to buy things we have always wanted - a new car, new clothes, new watches, toys, etc. If you want to be financially independent, get comfortable with the following ways to keep and build upon your assets: Financial Stewardship Habits Keep simple bookkeeping records. Note and keep records of all the checks you receive, and of all the expenses relating to your business/organization. Consult a good accountant. Learn the best way to set up your company structure (the entity under which you will be doing business), how to set up the accounting records, and most importantly, how to spend the money so that you may have the best tax advantages offered by your government. Every government in the world has different rules, so be sure to have a professional advice you. This is not a good time to listen to OPINIONS.
GET THE FACTS. Understand the Tax Laws in your country. You are going to find that most governments are very friendly toward people who make money. In the United States, for example, tax deductions are designed for the wealthy. Keep all receipts, including non-tax items. If you are ever audited, you can show the Tax Department auditor that you are a good record-keeper, and the process will go much faster and easier for you. Budget your money. This is the first and most important key to growing your money. Make a list of your monthly expenses as you are living now. Decide how you can pay off all your bills on a monthly basis and be out of debt as soon as possible. But also save some every month to pay yourself and invest one of the keys to growing your money. Make a complete list of your debts that will need to be paid off. Budget enough to pay reasonable amounts monthly and save enough to invest as well. Make a list of the items that you really need and want to buy for yourself and your family. Plan for these purchases and buy the minimum as a reward for all the hard work you (and your family) have done to earn the money. If you do take all these steps, you will have plenty of money later to buy all the things you want. Take 10% of everything you make and tithe it. This means to give it to a charity, a church, or an organization you want to support that adds value in a way that inspires you. The thing most of the wealthiest people in the world have in common is their generosity and a desire to give back. This habit is a very important key to wealth. SAVE all the extra funds you have after you pay your monthly expenditures and use these first to get out of debt. (The interest you can save is usually more than the interest you could earn on the same amount of money.) Set a goal to eliminate your debt so you can start growing your wealth. Divide your savings as follows: Put 1/3 of your savings into a safety net savings account. Then no matter what happens in your business or life, you will still have some of the money you have earned and saved to fall back on, if needed. You will receive many invitations and offers from banks to save with them, telling you how to safeguard this and what types of accounts are most secure. If you are not yet an expert on money, do not fuss about it. Just
Money Making Systems by DC Cordova with Carol Dysart - Habits for Success put it away and by the time you have enough saved to worry about, you will know what to do with it. It is natural that the more money you have, the more motivated you will become to increase your knowledge about money and how to make it grow for you. Do not try to learn and act on everything you learn all at once. If you keep educating yourself little by little, it is just a matter of time before you will become very sophisticated in this area. Re-invest 1/3 into the business that is bringing in the money for you. Your basic rule-of-thumb in business should be to give as many tools as possible to the people and roles that support your growth so they can keep producing for you. Investing in people who are leveraging you is one of the most important aspects of growing any business. This includes keeping their equipment, training, and rewards up to date. If you keep priming the pump it will continue to flow abundantly for you. Invest 1/3 into traditional investments. If you do not own your own home and are paying rent, save for a down payment so you can purchase one as soon as possible. However, never buy a home or car with cash. Home mortgages and auto loans are some of the cheapest money around. If you are one who was taught by your parents to pay for as many items as possible with cash, realize that this thinking is what is called a middle class mentality. Do your Investment Market Research to find the areas are best for you to invest your money in. Again, use 1/3 1/3 1/3 rule of thumb: 1/3 for investments in safe areas for you slow, steady, predictably safe and accessible should need it. 1/3 for medium risk investments that bring a heftier return. 1/3 for high-risk investments that bring a much higher return. that the you Do not use credit cards or high interest financing plans to make large purchases. Use this as your very own rule of thumb whether you do or do not have the cash. The use of credit cards is a very bad habit and is what starts most people on the downhill into debt. Just know that when your income grows and bank deposits increase, your name will start showing up on different lists and the credit card and financing companies will find
you. The more money you have, the more credit people want to give you! If you begin to spend money on credit, you will begin to go into debt. Bottom line, CREDIT is deadly to anyone who hasn t already established good, sound financial habits. Charge only those things you can afford to pay for each month so you gather no interest charges. Educate yourself in the area of money and finances. The more money you make, the more important it is to learn how to use, spend and invest it. Do not just leave it up to accountants, financial planners, bankers, attorneys or others to do it for you. You must be willing to be responsible for your money in order to have control over and grow it. There can come a time when it could be almost a full time job just to manage your own money (a great goal and another reason to apply the principles in this book.) Prepare yourself emotionally to make large amounts of money. Businesses today allow many to make large amounts of money, and unless you have been well trained to handle money and have developed healthy money habits, you may risk spending it too fast or losing it through unsound business/investment practices. Even more importantly, there could be emotional blocks that show up when you receive more money than you have ever earned before. If you have a deeply buried thought that you do not deserve that kind of money if you feel guilty about making lots of money you could find yourself spending the money faster than you make it. Unfortunately, this is a very common pattern. Carefully watch for this and get coaching or support from someone you can talk to if you notice it. If you really apply the systems in this book, your income will increase - as long as you have a great business, want to learn, use, and apply the principles of leverage in this book. Getting Organized The final (and most important) habit is to get you organized. Nothing (short of never having enough money) creates more stress than being disorganized. You can be pretty certain that nothing will ever really work (over time) until you make this habit your own. Take a time management course. Hire someone who can help you apply the system in this book called the Perfect Desk. Find out your style, and then set out to develop this most important habit.
Money Making Systems by DC Cordova with Carol Dysart - Habits for Success If you know you are not organized or are not willing to become more organized, then notice that fact and make sure you have someone you trust who can - and will - work closely with you to get and keep you organized. Successful business people are either highly organized individuals... or they have people who do this for them. As it is true of all habits, the ones you use daily will affect and determine the rate of your success. As you can see, the habits we have covered are all important. And what will make the difference between having business success be easy or hard will be the degree to which you are able to stop doing what does not work for you any more and, instead, put these systems in place. With them in place, your business will be able to run with or without you. And this is the ultimate leverage. Start now by creating a list of To Do s you get from the ideas in this book. Look at them regularly until everyone is checked off. Are you ready to get organized? In the very next chapter I will show you the step-by-step approach I have been using for years to set up my offices. Our graduates who use and love it too fondly call it the Perfect Desk (but your use of it will determine how perfect it really is for YOU!) Do the best you can with it, customize it to fit your business and style, but keep reading and, remember to keep breathing! Excellerated Business Schools/Money and You Program http://