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Real Money Talks

As an entrepreneur, small business or practice owner, or high-level executive, do you ever find yourself wondering if you’re using all the tax, entity and wealth strategies available to you or if your investments are truly producing all they could be? Happily, you don’t have to put up with that any longer. I have the solution. Real Money Talks! We're having the right conversation about money.
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Sep 5, 2019

Rob Kolb is one of my favorite alternative financial planners. He has been in the finance industry for over 20 years. His main area of focus is helping find strategies to create wealth and lower taxes. He is good at it too. Today, Rob shares a genius strategy for amplifying wealth without giving it all to the government in the form of taxes. 

This strategy is one that is used by the wealthy to lower their taxes, have penalty free access to their money, and have tax free income. We talk about the different types of money. Rob explains what red, blue, and green money is. Green money is money that lowers taxes or has tax free income, has a good rate of return, and leverages OPM. This is the type of money we are talking about today.

You can find Rob here:

RKolb@GoGreenFS.com
BLITZ Your Wealth Plan
Ask Loral

Show Notes:

  • [01:57] Rob has been in the financial industry for 20-plus years. His ran several different agencies. In the past, he was security licensed. 
  • [02:12] He has spent most of his life helping people find strategies to create wealth and lower taxes.
  • [02:18] He works with The Independent Excellence Group. This is a national group that gets together on a quarterly basis to find strategies to help upper end clients lower taxes, make more money, and have a much larger flow of income. 
  • [03:10] Most people use their 401k to help lower taxes, because they assume they'll be in a lower tax bracket later in life. We are currently in one of the lowest tax brackets, so it's likely your bracket could be higher later on in life.
  • [03:58] Our country is 22 trillion dollars in debt. It will be amazing to see what the country will try to do to resolve that debt.
  • [04:19] A trillion seconds is like 33,000 years. 
  • [05:55] Deferring your taxes is like taking out a loan with the IRS and not knowing what interest rate you're going to be paying it back to the IRS. 
  • [06:09] With a Roth IRA you pay taxes up front and don't pay taxes on the gains. Because of the amount limits, it's not a vehicle for building true wealth. 
  • [07:50] From 2000 to 2018, people put their money at risk in the stock market and got about 4.5% returns. 
  • [08:28] Solo 401ks are different, because you can make different investments. Traditional 401ks can put you in a higher tax bracket, and you may have to pay penalties and taxes depending on when you withdraw.
  • [09:31] There are even penalties for not taking money out after you are 70 and 1/2. The penalty for not taking your required minimum distribution is 50%.
  • [10:35] Using OPM others people's money is a way to grow, expand, and do deals. It's a strategic tactic. 
  • [12:08] A good strategy lowers taxes for later or is tax free income. It would also be nice to make a decent rate of return without worrying about the ups and downs of the stock market.
  • [12:58] There's a specific strategy to enjoy the upside of the market without a downside. We also want to use other people's money, so we have access to our cash.
  • [13:43] The killer to any sound financial plan is called procrastination. Start now. Start early.
  • [15:44] There is a tax code section called 7702 that revolves around life insurance. There are tax advantages if you set up life insurance correctly.
  • [16:31] When using life insurance as a tax play, you buy the least amount available and put the most money in. This creates a large cash value. This money can be accessed by taking a loan against it. Because of the spread, you are using other people's money. In this case, the life insurance company's money.
  • [17:54] You also have the ability to access this money before age 59 and a half. Think of it as a wealth account. This account compounds and gives you financial freedom later that is tax free. 
  • [19:10] The idea is to use it for tax advantages, not a death benefit.
  • [19:52] The top 25% of earners in America are $80,000 and above. When you have a tax problem and not an income problem, it's time to fix it.
  • [21:11] With cash value life insurance, expenses are on the front end.
  • [22:07] The compounding benefits are huge.
  • [24:04] We're talking about guaranteed money by large insurance companies. They have to have money on reserve. We call this green money.
  • [25:13] Red money is tied up in the stock market. Blue money is alternative investments. Things like gas & oil, etc. 
  • [27:44] If you aren't getting matching dollars with your 401k, maybe you should reallocate that money.
  • [28:23] Rob has an ebook that pinpoints this strategy. You need an independent advisor to set up the strategy properly. Email RKolb@GoGreenFS.com to get his ebook.

Links and Resources:

Aug 29, 2019

Dr. Trinh is a board certified physician and public speaker who focuses on health and education. He has been the head of several research projects and non-profits. He is also the founder of TongueOut a non-profit that gives back by going to countries like Vietnam and providing medical treatment, surgery, and other support. 

Vietnam is one of the many third world countries without a safety net. Elderly people often go blind from cataracts, because they don’t have access to sight saving surgery. This is just one of the many things that TongueOut helps remedy. Dr. Trinh shares his amazing refugee story, why he believes so strongly in giving back, how we can help, and he shares some of the opportunities opening up in Vietnam. 

You can find Guest here:

BLITZ Your Wealth Plan! 
Ask Loral

Show Notes:

  • [01:15] Dr. Trihn is a board-certified physician and public speaker who focuses on education and health education.
  • [01:41] It's his goal to educate the public on the importance of prevention and preventive health. He also has a team of researchers actively conducting clinical trials for brain health conditions such as depression, anxiety, migraines, and Alzheimer's.
  • [02:40] TongueOut takes groups of doctors and students to help people all around the world. They just helped fund and do low cost eye surgeries for blind people in Vietnam. 
  • [04:34] Leprosy still exists in the third world. They spend time and hug people with leprosy. They also have medical clinics, food distribution, and water filtration systems for poor communities.
  • [06:42] They also go to orphanages in many countries. 
  • [08:47] Dr. Trinh was five on April 30th, 1975. This was the day the Vietnam war ended. On April 29th, he was on the airport tarmac with his mom and siblings. He saw Chinook helicopters landing in front of them. The back would open people would run in. At one point it was the turn for his family to run into the back of the Chinook helicopter.
  • [11:43] He was one of the lucky kids to get rescued. The helicopter landed on the U.S. Midway aircraft carrier. The were first taken to Guam. They couldn't enter the states until they had a sponsor.
  • [13:38] He was taken to Orange county and bussed to Camp Pendleton and they lived in a tent city as a refugee. 
  • [14:24] Tent city was built by Marines. They had a week to build it. It housed over 20,000 refugees. 
  • [15:06] Dr. Trinh introduced the man who built the tent city at his recent TongueOut fundraiser event. He was very grateful to introduce him. Dr. Trinh is grateful for the opportunities in the US. TongueOut is how he gives back. 
  • [17:11] Loral and Dr. Trinh are going to be doing a series of workshops. 
  • [17:54] PPP stands for purpose, passion, and profits. We need money to fulfill our purpose and passion. 
  • [18:58] Integrated Health and Wealth plays a big role in giving back.
  • [20:00] We have a Big Table community and want to take a group to Vietnam with the purpose of giving back.
  • [13:34] His family was Buddhist, but they ended up with a Christian sponsor and this was his first introduction to Christianity. 
  • [21:59] Dr. Trinh is also well connected with manufacturing and can make some introductions to people from The Big Table. 
  • [23:05] You can connect or donate at TongueOut.org. Dr. Trinh is excited to take The Big Table group to Viet

Links and Resources:

Integrated Wealth Systems
TongueOut
TongueOut on Facebook

 

Aug 22, 2019

Jen Devore Richter is a business breakthrough specialist. She is the owner of Boss Women Rock which is a training program for women business owners. She is also the author of the Boss Women Rock book and podcast. Jen helps business professionals with her results oriented approach. 

On this podcast, we are doing something a bit different. Instead of Loral interviewing Jen, we are playing a replay of Jen’s Boss Women Rock podcast where Jen interviewed Loral. This is the perfect opportunity to get to know Loral better and find out how she really feels about women and business. 

We learn about Loral’s background during the different segments of her life. Loral also shares her philosophy of educating the entire family about money so that the legacy being built can be shared and grown by the entire family. This episode is packed full of Loral’s wisdom and advice with Jen’s unique interview approach. 

You can find Jen Devore Richter here:

Take Action Today!

Ask Loral

Jen Devore Richter

Show Notes:

  • [02:22] Loral coaches her clients to segment the chapters of their life. A defining moment in Loral's life was when she was 24 years old and got a multi-million dollar contract to build fitness centers on offshore oil rigs. 
  • [03:03] She had a huge corporate budget. This defined her as taking lead and living by vision.
  • [03:29] In 1996, she worked for Robert Kiyosaki and put the Cash Flow game on the map. 
  • [03:39] In 2001, she started Live Out Loud and now has 80 or 90 employees worldwide. She has also been building the Big Table community.
  • [03:57] Now Loral helps families get exposure to money in a way never taught. The evolution of her business has been very organic.
  • [05:29] It's great to have a message, but your business model needs to support your financially. 
  • [06:11] What is your revenue model? How are you going to make money? Have you made your first sale or is the plan on a quick sale after development. 
  • [07:29] Talk about the money you want to make not the thing you want to sell. 
  • [08:27] Loral forces the revenue model inside the business model. 
  • [09:25] Women should stand in their power and not any level of ego. Know what you are really good at. How you behave as an expert has a much different energy and tone. 
  • [11:23] You aren't playing hard in the game if nothing is on the Internet about you. People who do well have lovers and haters. 
  • [12:36] Get in the high value ticket mark. Don't be the beginner starter. 
  • [13:54] Design an organization chart without you in it. You are the CEO. Loral's coaches are millionaire experts who are paid well.
  • [16:41] Opportunities come to you everyday. Say yes, and find the team to do it. Don't process through your own filter. You don't have to do everything, you just have to lead it. 
  • [19:56] I'm not ready or I have to think about it are two of the greatest excuses. Women also have problems spending money on themselves. 
  • [21:51] Your mentors are not your friends. You friends and family are in the same experience and result level. Be who you need to be and get mentors. 
  • [22:51] Women need to stand up in their power, their pricing, and be a model for their children.

Links and Resources:

Apply now to get The Integrated Wealth Blitz on demand!

Sharon Lechter

Robert Kiyosaki 

Just Met Loral

Boss Women Rock: Go From Best-Kept Secret to Sought After Expert

Millionaire Mindset - an Interview with Loral Langemeier 'The Millionaire Maker'

Aug 16, 2019

Tim Kristovich is a contractor turned land developer. He is also a friend of mine and a father who runs his business with his family. In this episode, Tim shares how he got into development and some of the dynamics of working with family in a business. We also talk about the ins and outs of investing in land development. The Boise area is booming right now. With 36% of the market being transplants from California. 

These people are discovering that they have more buying power and that Boise is a wonderful place to live. The only problem is the housing market can’t keep up with the demand. That is where Tim comes in. He finds parcels of land to develop and build on. People who invest not only get to make a profit, but he shares the progress every step of the way. This is a great episode to learn about investing in land development. 

You can find Tim Kristovich here:

Take Action Today!
Ask Loral
KristyConstruction@gmail.com

Show Notes:

  • [01:41] Tim started as a general contractor. He was trying to find property to build on and decided to start developing his own properties. 
  • [02:33] There was a shortage of lots to build on for Tim and other contractors. Contractors build houses, so they need a place to build.
  • [03:09] Developing was a niche with a huge niche. They can't develop them fast enough.
  • [03:38] The Boise market is unique. They had a slow down in 2008, but growth has taken off in the last five years. They have a housing shortage, and the quality of life is what is spurring them on. 
  • [05:16] There's a great downtown and wonderful outdoor life. It's an amazing spot to live. 
  • [06:39] Tim works with his family and adult children. In a family business, you have to sit back and be the partner and the boss at times. You have to set the rules when you first start. 
  • [08:52] Tim raised his kids to think like an entrepreneur. 
  • [10:18] The downside of land development is having a lot of money at stake. In a booming economy the cost of land is going up. A downturn can create a shortage of buyers.
  • [11:17] Buying right and having an exit strategy is the best way to look at things as a company. 
  • [12:34] An upside for an investor is having land in the portfolio.
  • [13:06] When they need a certain amount of money to get a property, an investor can come in and invest. The investor gets their money back when the blocks start selling. This is a chance to participate in the development side without having to do all of the leg work that needs to be done.
  • [13:39] Tim sends his investors videos, so that they can keep an eye on the progress of the development.
  • [14:11] After 18 months, they get paid back the principal with interest.
  • [15:47] The first phase is raising money to acquire the property. The next phase is raising money for the construction. They want to have the majority of the money raised by the time the plans are approved. The last phase is the actual build-out.
  • [17:32] As money is raised, further projects can begin. Doing it in smaller sections helps ensure against having a large investment if there is a downturn.
  • [19:29] The biggest risks are probably not having enough capital or having the projects fall behind schedule. An economic downturn is also a risk when it comes to people buying houses.
  • [21:11] The notes are secured with the deed of trust on the land. Everything goes through a third party like a title company where the construction loans are set up.
  • [22:10] There are a lot of markets that are exploding right now like Boise and Montana.

Links and Resources:

Apply now to get The Integrated Wealth Blitz on demand!

Aug 8, 2019

So many new entrepreneurs and small business owners make the mistake of tangling their personal and business finances together. There are so many reasons why this is a bad idea. From having tax issues to lowering credit scores to making you personally liable for business problems, you don’t want to do this. This episode will teach all of the reasons why these accounts should be separate. 

My guest today is finance coach Eileen E. Galbraith. On today’s show, we discuss the difference between personal and business credit and how to set things up the right way. Eileen shares the 10 foundations of establishing business credit and how doing so can improve your credit score in your business and your personal accounts. Eileen learned the importance of this from a personal experience and is passionate about helping business owners set things up the best way possible.  

You can find Eileen E. Galbraith here:

Ask Loral
The Credit Gal
Eileen E. Galbraith on LinkedIn
@EileenGal1 on Twitter

Show Notes:

  • [02:21] It's so much better to be prepared than to have to rush around for the needed cash. It's good to find out what you qualify for and the terms for future business. 
  • [02:37] Eileen can also help you repair your credit. No matter what shape your credit is in, it's important to build it back up for your business. 
  • [02:51] Not being able to find capital is one of the reasons why many businesses go under.
  • [03:23] Eileen used her own personal experience of rebuilding her credit after bankruptcy to start a business. Getting into business financing helped her teach something that she went through herself.
  • [04:24] There are five different factors that determine the credit score with personal credit. Everything you do affects you personally.
  • [04:36] With business credit, you can build credit in the name of the business without the liability. Your borrowing power also increases. Set up your entity and then start to build your business credit. 
  • [05:35] Using personal credit for your business puts too much risk on you and your assets.
  • [06:03] The only thing that determines your business credit score is how you pay your bills.
  • [06:37] Everything should be separate. Build a spreadsheet and analyze your expenses. 
  • [07:39] You don't want to commingle funds because of compliance issues and taxes. 
  • [08:25] 35% of your personal FICO score is how you pay your bills. 30% is the ratio of available credit to used credit.
  • [09:05] Look at your credit report and see where you are and then build a strategy around that.
  • [10:23] Have detailed list of credit cards and all of the details. 65% of your FICO score is how you use your credit and pay your bills.
  • [11:52] Don't apply for credit before you have the foundations of your business established.
  • [13:19] Eileen does an extensive analysis starting with personal credit. She looks at how your bills are reported on your credit report. Then they determine how things can get paid down and creates a plan of action. 
  • [15:09] The foundations of business credit include actually having a business. The three credit reporting agencies are Dun & Bradstreet, Experian, and Equifax.
  • [16:32] Dun & Bradstreet are the number one business reporting agency.
  • [18:05] Foundations for building business credit. Establish your business as an entity.  Get your EIN number and your DUN number. Set up a business checking account. You'll need to take your paperwork and articles of incorporation to the bank. This is where you get a business credit card using your EIN.  
  • [19:19] You need to have a website have a landline and a fax number. Don't let your business address be a P.O. Box. All of your paperwork has to match the same. 
  • [22:05] Every business entity should have its own business credit card.
  • [23:03] Identity protection can help monitor against fraud. Make sure your bank covers fraud. Use antivirus and don't use public Wi-Fi.

Links and Resources:

Jul 25, 2019

We are about finding ways to make and keep money. This includes alternative investment ideas. Today, I have a guest who is here to talk about ORMUS and Etherium water. Karen Avedon is someone who’s family history has allowed her the freedom and time to pursue the things that interest her. Her current interest is the healing properties of ORMUS.

According to Karen, we are at the cutting edge of bringing back healing elements from ancient times that are being rediscovered in modern times. Mineral and element compounds like ORMUS are one these ancient healing tools. Montmorillonite is an element found in bentonite clay that allows for healing, detoxifying, fighting EMFs, and more. We are just touching the surface of this discovery and it’s potential, but it’s a great start. 

You can find Karen here:

Ask Loral

Show Notes

  • [01:52] Karen came from a background that allowed her the time to pursue her interests. 
  • [02:30] She has multiple experiences that have allowed her to learn. 
  • [03:41] Etherium gold is a compound mineral. 
  • [04:54] ORMUS comes from light that occurs in the universe. It has healing properties to our bodies and expanding and grounding evolution on our bioelectric bodies of our aura. 
  • [06:26] ORMUS makes the healing properties of cannabis grow. 
  • [07:23] When detoxing, you have to have the patience to let the impurities and the toxins emerge to the surface. ORMUS is a detox superconductor. 
  • [08:47] ORMUS is an amazingly powerful medicine. 
  • [09:29] ORMUS products come in many household and commercial forms. 
  • [10:40] Bentonite contains montmorillonite which is used to filter fish tanks and any way that bentonite is used. It also has a very profound effect on bioelectromagnetic fields.
  • [14:31] ORMUS can be used to calm down electromagnetic fields like that created by 5G networks. It's like an electromagnetic harmonizing device. 
  • [16:11] Microdosing is a good way to begin with ORMUS. Some people use it before meditation. 
  • [17:17] Start with small amounts and trust how you feel. It makes you feel aware and relaxed or super conscious. 
  • [20:21] ORMUS is beneficial to almost every industry.
  • [22:36] If your grandma forced a spoonful of cod liver oil down your throat and told you it was good for you, this is so much better. It's palatable, it feels good, you can trust it, and you can work with it so it addresses what you need support in.

Links and Resources:

Loral’s Real Money Talks

Jul 11, 2019

Tania Vasallo is the founder of The Courage To Be Happy a supportive community that empowers women entrepreneurs to create an authentic brand and lifestyle that fits their vision. Tania started out as an art director at a New York agency where she worked with big brands. 

In her search to find something more fulfilling, she became one of the early certified life coaches. After many moves and career shifts, she founded The Courage To Be Happy. Tania is also a client. Today, we discuss what it means to have courage, the different ways men and women think about money, and why it’s important to make a plan and then jump in and do it. 

You can find Tania Vasallo here:

Ask Loral
The Courage To Be Happy

Show Notes:

  • [01:31] Tania started as an advertising art director in New York City around 20 years ago. She worked on huge accounts like Samsung and Starbucks. 
  • [02:02] Her work didn't align with her values and she wasn't happy with it. She felt trapped in the corporate world.
  • [02:16] Tania and her husband both decided to quit their corporate jobs. They worked as photographers and Tania got her life coach certification. 
  • [02:58] They then moved to Spain where Tania is originally from. They opened a creative studio. 
  • [03:43] They then moved to the States and Tania launched The Courage to Be Happy four years ago. 
  • [04:33] She started focusing on branding, but teaches a lot about women and business and money.
  •  [06:08] Tania learned that a lot of women wanted to start amazing business, but had trouble with the making money part. 
  • [06:21] She works with women and finds where they are at with their business and then helps them find their blind spots when it comes to systems and strategies. 
  • [08:29] A lot of women don't want to talk about money. There seems to be a shame when it comes to talking about money. 
  • [09:20] If you have courage the universe will compensate.
  • [09:43] When it comes to sales a lot of women don't want to ask for money. 
  • [10:24] Business is all about exchanging money for value. Money touches everything in our world. Get yourself educated about business and money. 
  • [11:29] Men seem to be more decisive and feel more qualified. A man will ask for a sale when 50% qualified where women want to be 100% qualified. 
  • [12:55] Women also tend to feel that they need to do everything themselves. Men don't struggle with investing in themselves. 
  • [14:16] Things shift when you put a plan together. Jump in. Life is too short to not follow through. 
  • [15:12] Tania stopped coaching after she had a close friend and client suddenly die. 
  • [17:44] People often don't plan their lives, dreams, and goals.
  • [18:31] Tania is giving away a workbook to help think about what you want in your life. 
  • [19:18] Journaling is a wonderful tool that helps us tap into deeper parts of ourselves. 
  • [20:28] Keep on dreaming and have courage over comfort. 

Links and Resources:

Jun 27, 2019

As our population ages the need for caregivers keeps rising. My guest today is a huge proponent of modern active aging. He has also built a business around finding caregivers that clients can trust and relate too. Jon Siegel is a board-certified clinical psychotherapist who has been in private practice for 35 years.

Jon discovered a need and decided to build a business around it. His business The Perfect Companion uses unique insights to assess the skill sets and personalities of caregivers in order to match them to clients according to their personalities and needs. Jon talks about his business and how having the proper care and lifestyle can lead to vital active aging. 

You can find Jon Siegel here:

Ask Loral
The Perfect Companion
Call Jon (602) 300-5018
Call the office ask for Carlos (602) 595-9096

Show Notes:

  • [01:35] Jon is a psychotherapist by trade, and he has been in private practice for 35 years.
  • [02:07] He concentrated on anything with the mental health approach.
  • [02:29] There was a lack of quality caregivers in Scottsdale, Arizona. There was a need for a non-medical in-home care provider that featured people who could relate to the clients.
  • [03:36] Jon started The Perfect Companion with the goal of matching up the personalities and skill sets of their caregivers with the personalities and needs of their clients. 
  • [04:04] Jon created a successful concierge approach where they match their caregivers with their clients.
  • [04:42] Modern active aging is where one can physically, emotionally, and socially stay in touch with the times.
  • [05:24] We should have a positive modern way of being able to help people from a medical standpoint.
  • [05:36] We want to age in a strength-based way and stay away from the pharmaceuticals.
  • [06:32] As we age, we need to have purpose, passion, and possession. Take ownership of something that you do better than anyone else. 
  • [10:11] The active aging model is doing things in a mindful way. 
  • [11:05] Jon is an active proponent of plant based diets and actively working out. 
  • [11:33] The mind and gut go well together. There is a lot of gut toxicity. 
  • [13:00] Get out and move. You don't have to be the best. Combine the mind, body, and spirit in a way where you do things well. 
  • [14:42] He tries to attract clientele who have discretionary income for a private pay basis. They try to find caregivers with similar life experience. They also hire older people to match up with their clients.
  • [18:34] Jon talks about attracting and attaining the care givers that he wants and needs.
  • [19:14] Talk to family and friends and find people for caregivers and clients.
  • [20:33] The top markets that Jon is targeting include Palm Springs and Beverly Hills and Lake Tahoe where people are looking for personalized care. 
  • [23:30] They can also add on value with natural medications. 
  • [25:01] Technology and creating interactive experiences is really important. Building the model that matches the caregiver with the client creates a lot of trust.  

Links and Resources:

Jun 20, 2019

Have you ever dreamed of being on Shark Tank? Do you have an amazing business idea that needs capital to get off of the ground. Today’s show is an interview that Loral did with Jonathan Foltz. Jonathan is the co-founder of PITCH Investors Live. This is a new platform that allows entrepreneurs to pitch their ideas to potential investors and sharks.

Jonathan sums it up as Shark Tank meets Kickstarter meets online dating all live streamed. This revolutionary new app not only allows regular people to get in front of much sought after investors, but it has the capacity to get your idea in front of regular people who might be interested in investing in you and your idea. Loral is super excited about this new business partnership and her and Jonathan talk about everything involved in pitching and how you can get started with some incredible bonus offers.

You can find Jonathan Foltz here:

Integrated Health & Wealth
Ask Loral

Show Notes:

  • [06:01] The app has about 200 to 300 investors in their database. People are even getting deals from people watching in the audience, so there are probably more like 1000 investors.
  • [07:55] The Big Table teaches how to vet deals.
  • [08:19] Sharks are equity investors that also bring their brains and experience to the deal.
  • [09:24] Can you give too much info when pitching a shark? Real sharks are so busy, they aren't going to "steal" your idea.
  • [13:39] An accelerator session is a 30-day trial to learn everything you need to know to get your idea off of the ground.
  • [17:14] Loral gives tips on what you need to pitch properly. Investors also like partners, knowing your market, and how you're going to make money.
  • [18:56] Have a really good story and have numbers that make sense.
  • [20:04] Jonathan shares how he got started with PITCH Investors Live.
  • [22:13] Getting money and strategic partners is always one of the hardest things. Getting cash from investors can accelerate growth.
  • [24:44] Jonathan shares a success story where a guy pitched, got rejected, and then someone from LinkedIn contacted him. Now his company has been acquired.
  • [26:24] People who are just watching the pitch may contact the entrepreneur. The pitches will be available for later viewing.
  • [28:29] To get started, you sign in, and download the app. You can also create a pitch summary and watch other pitches. The live summary allows investors to see them.
  • [30:26] You also get a notification when someone wants to see your pitch.
  • [31:44] You just need to do it. The first pitch will change form many times.
  • [32:12] The 10 Steps to a Perfect Pitch tells you how to construct a pitch. There is a video and PDF version. They also have a one page business plan template. There is also a Pitch Deck PowerPoint type presentation. The accelerator program is a private Facebook group of very hungry entrepreneurs collaborating together.
  • [39:02] There is also a tip feature in the works.
  • [49:50] The whole idea is to offer value and help entrepreneurs get their ideas out into the world.
  • [50:46] Make sure you at least get a patent pending, but don't let it slow you down. You can also have the investors sign an NDA.
  • [54:47] It's important to be concise and get to the point. Be up front if you don't know something.

Links and Resources:

Jun 13, 2019

Without our health, what do we really have? Today’s show is about making money from a health point of view. I have a special guest today. Lauren Powers is a 10 time overall heavyweight bodybuilding champion. She has devoted her life to health and fitness, and she has the muscles and awards to back that up. She is venturing into a new fitness quest to help overworked, stressed women who have devoted their lives to work and making money, but have let their fitness fall by the wayside.

Lauren talks about mindset, goal setting, eating the right foods, rest, hydration, and her passion to help these women turn their lives around. We also talk about the financial side of fitness from sponsors to coaching and how health and wealth go so well together. We also talk about our upcoming event and how you can get Lauren’s book Beneath the Muscle for free.

You can find Lauren Powers here:

Integrated Health & Wealth
Ask Loral

Show Notes:

  • [01:40] The first chapters of Loral's life were in the health and fitness space where she made hundreds of thousands of dollars building fitness centers, personal training, and instructing aerobics.
  • [01:59] Lauren is going to get Loral lean again, and Loral is going to get Lauren really really rich again.
  • [02:17] Lauren was an athlete her entire life. After High School, she moved to Hawaii and opened a surfing school. She was also a State outrigger race champion.
  • [02:39] She lived in Laguna Beach when it almost burnt down, and she became inspired to become a firefighter, so she could give back to her community.
  • [03:11] The firefighting didn't work out, but she became the famous fitness celebrity that she is today. Lauren is a 10 time overall heavyweight bodybuilding champion.
  • [04:11] There was no social media when Lauren was doing bodybuilding. She would tour around the world and speak about the sport.  She builds her brand using mainstream media.
  • [04:47] She's been on TV shows and music videos.
  • [05:50] Lauren is now the founder of the Fierce Formula, and she is specializing in helping female entrepreneur women who are in their forties and above.
  • [06:53] Lauren wants to help women who have spent so much time building their business that they've neglected their bodies and the health side is just as important if not more.
  • [07:10] Lauren wants to create a resource, so that when women go to a gym they know exactly what machine to use and how to use it.
  • [07:55] People's health is going down with all of these prescription drugs that have so many side effects. We didn't have these problems 10 years ago.
  • [08:52] Lauren is all for anything we can do to combat the aging process. These are the types of things she's sharing with her clients and her audience.
  • [09:47] 90% of our health revolves around what we put in our mouths. As an expert, Lauren uses genetic testing to help people find the right foods for their body type.
  • [12:16] Lauren only promotes products that she uses and likes herself.
  • [13:38] Lauren's real passion is helping real women instead of the competitive athletes.
  • [15:08] She is used to being creative and working pretty hard, and she's super excited about sharing her expertise.
  • [15:47] Lauren shares how she helped a wealthy stressed out man build a gym and change his lifestyle. She also helped him with his food and supplements. He went from being overweight and stressed to super ripped and trim.
  • [17:38] You have to stop the fast foods in the fried foods and be conscious about what you put in your mouth. Have protein shakes and stay hydrated. Get plenty of rest. Destressing your body is very important in combating the aging process.
  • [18:42] You have to be laser focused on what you want and what your goals are.
  • [19:09] A lot of problems start in the gut, and digestion is a major key to health.
  • [20:30] There's a science behind all of this, so it's important to get with a personal trainer.
  • [21:04] Yoga and meditation are also key factors. 

Links and Resources:

May 30, 2019

Conflict can be a loud disagreement or an encompassing silence that freezes out communication and progress. No matter how it is manifested, it can cost entrepreneurs, businesses, organizations, and individuals time and money that they didn’t realize. On today’s show, I have conflict resolution experts Jenn Beninger and Carson Cooper here to talk about problems created by conflict and how to find solutions.

We talk about how underlying conflict can cause turnover and cost time and money. It can arise between partners, clients, vendors, and colleagues. Jenn and Carson talk us through the many hidden costs of conflict, and then they explain some of the questions that can be asked to find out where each party is coming from to begin chipping away at a solution.

You can find Jenn & Carson here:

Ask Loral

Show Notes:

  • [01:31] Carson has been in the conflict resolution field for the last 7 years and he's been coaching for the last 10 years. He has a master's degree in negotiation, conflict resolution, and peace building. He's also worked as a lead trainer and mediator.
  • [02:05] Jenn has a bachelor's degree in psychology, and she is a master trainer in NLP. She has coached hundreds of clients in dealing with conflict.
  • [03:05] Some of the ways that conflict costs businesses money include destroying the culture and the employee and client mindset.  High turnover is another issue.
  • [05:25] Conflict can create indirect and hidden costs that just mount up.
  • [07:21] Turnover, hiring, and training is a huge cost of conflict.
  • [08:01] Entrepreneurs that have conflict with teams and vendors is also a huge loss of time as vendors and contractors are changed. This results in loss of income.
  • [09:16] Conflicts in partnerships can cost an entire deal.
  • [10:07] Trust is a confidence of a positive expectation. Distrust is where negative assumptions are made. Companies need to build trust and find out where the distrust is.
  • [12:18] Clients can show up with a presenting problem, but there is always a greater problem that is affecting them. The distrust can even affect future businesses.
  • [13:46] Become aware of the language and dangerous mindsets. Also watch out when people are really defensive or blaming or shaming.
  • [15:33] What are people saying and how are they asking questions. People come into conflict with their judgement and perspective. What does this represent to you and what is your definition of?
  • [17:09] Understand where people are coming from. In every conflict, people are protecting something. Find what they are protecting and why this conflict is so important to them.
  • [19:25] Try to set in a goal-oriented action plan where people are looking at what they want as opposed to what they don't want.
  • [21:00] Jenn and Carson are here to help support you in your solution. You can jump on a call with them and spend an hour.
  • [23:26] Look deep at the places with your life and get unstuck.
  • [23:55] The quicker you resolve the challenges in your life the more time you have to open up to bigger opportunities and more wealth.

Links and Resources:

May 16, 2019

Real estate and investments go up and down in cycles. It’s been 12 years since the last crash. Are we due for another one? There are experts who say yes, and experts who say no. My guest today is Elysia Stobbe. Elysia is an authority on mortgages and financing real estate for first time home buyers and investors. She is the author of How to Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye ™ and the host of the Fork This Mortgage Podcast.

She has over 20 years experience in real estate, investing, and mortgage finance. She is here today to talk about when and why she thinks the next big crash is coming and what to do about it. We talk about using the numbers correctly to make sure that your investment has enough cash flow to make it profitable. She gives tips on finance options and the importance of due diligence. If you have questions about real estate investing, you will love this episode.

You can find Elysia here:

Ask Loral
Elysia Stobbe Website
How to Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye ™
Fork This Mortgage Podcast

Show Notes

  • [01:20] During the last crash Elysia learned a hard lesson.
  • [01:48] It's time to consider what your play is if there is a crash.
  • [02:30] A lot of talking heads get paid to say that things are great.
  • [02:49] There are financial cycles. We were due for a correction fueled by volatile mortgage products.
  • [03:27] They were also mortgage products available for people with poor credit scores and who didn't have a good history of repayment. Adjustable rate mortgages were also a problem.
  • [04:10] Elysia feels we are overdue for a correction.
  • [04:48] Think about cash flow when you are investing.
  • [05:05] Make decisions by numbers not emotions.
  • [05:23] When everyone is trying to be an investor that is usually the time not to be an investor.
  • [06:50] There's a lot of information available for the public also take advice from people who you trust.
  • [07:16] Ask your mortgage professional what they're closing rate is.
  • [08:04] There are products for investors based only on cash flow. Then there are bank statement programs where we go off of the income taxes. There are many different mortgage products out there.
  • [09:04] There is even hard money lending from private lenders at high interest rates. Get pre-approved up front, so you know what your numbers are and can have a realistic cash flow.
  • [10:08] It's important to get pre-approved.
  • [10:50] Sometimes you can get seller financing at 6 or 7%. This is better than hard money lending at 14%. Look for a local investment group to find these lenders.
  • [12:05] There are also ways to use your self-directed IRA. Check fees before getting locked into a company.
  • [12:54] A lot of first-time buyers are getting multi-unit properties.
  • [13:37] Elysia is a fan of the Florida market. Other great investment options are St Louis Missouri, Dallas, Houston, Oklahoma, and Tennessee.
  • [14:29] Lower price is lower risk. Expensive properties can require a lot of money to risk to make the same cash flow. Also be aware of state laws and taxes.
  • [15:49] Consider your exit plan also.
  • [16:23] Try to get at least an 8% return but shoot for 14%.
  • [17:59] Elysia's book How to Get Approved for the Best Mortgage is for first-time home buyers but she's also working on a book for investors.
  • [18:40] The book can help you approach the Lending situation with educated questions.
  • [19:58] First time home buyers are currently getting priced out of the market.

Links and Resources:

Loral’s Real Money Talks Podcast

May 9, 2019

What does the co-founder of Oculus and the co-founder of Priceline have in common? They have both attended an event by today’s guest Eliance founder David Cogan. David is a serial entrepreneur who, even though he has an MBA, says that he knows more about making money than he does about math.

He also understands the importance of getting the right people together and putting the right systems into place to create a cash machine. He is here today to talk about his community for entrepreneurs of all sectors to help each other build better businesses and a better world.

You can find David here:

Ask Loral
David Cogan on LinkedIn
Eliances
Loral Langemeier Interview

Show Notes:

  • [01:46]  David comes from Chicago where he worked for IBM. Then he moved to Atlanta and had an amazing experience working there.
  • [02:12] He didn't work for Arthur Andersen which paved the way for his success.
  • [02:35] His MBA was actually funded by IBM.
  • [03:28] David started a number of companies, he always had a passion for electronics. He started an online company that sold mid-range speakers.
  • [04:17] His product was featured in a magazine. Next thing you know, things blasted off.
  • [05:07] David is so passionate about startups and businesses.
  • [05:27] Seeing other people be happy with what you're providing is the key to success.
  • [05:58] Eliances is a community of entrepreneurs. The group is by invite only. You have a room full of people who are passionate about what they do.
  • [06:59] It's really about what the community can provide to others.
  • [08:20] Got, give, get. It's the Eliance 3G philosophy.
  • [09:40] This is where relationships are developed and business deals get paid.
  • [11:07] The founder of Dippin Dots is actually working with other Eliance members to form a new product.
  • [12:01] They have over 30 Eliance members who sit on bank boards.
  • [12:49] It's like the Disneyland for entrepreneurs.
  • [13:20] When starting a company, you are doing everything. There are a lot of challenges. You have to move forward and build processes along the way. You need to have a revenue model, because it won't last without that.
  • [17:04] David called one of his customers who gave him a no and asked him why. It was a non-threatening call that gave the people an out, but he cleaned so much information.
  • [18:29] Understand why things aren't working and fix them.
  • [18:57] Take notes and be capture every word.
  • [20:47] Everything is going to be more expensive than you thought it would be. Be resourceful. Your price will always be the wrong price. Feel out the market and adjust and be flexible.
  • [22:09] Be able to shift. Always be open. Anything you are going through, someone else has also gone through it.
  • [23:58] Everyone is human, and we all feel the same emotions.

Links and Resources:

May 2, 2019

This is a special episode where Loral Langemeier  gets interviewed by Alexander of Measurable Genius. Loral is known as The Millionaire Maker, she is the author of five New York Times bestselling books and she has written 42 total. She teaches people how to make money. She walks the walk, because she is a self made woman who grew up on a farm in Nebraska.

She always thought that she thought differently, and things started to fall into place when she discovered Think and Grow Rich. This was her first pivotal book about the possibility of getting rich. It was a conversation that made sense to her. She was tired of hanging out with the people who were doing things the old way.

She was never excited about having a job, and she never wanted to be that person. Today, Loral shares her journey and how she started it. Alexander and Loral talk about the importance of pivoting, having the right belief systems, learning, finding mentors, and the power of confidence in this eye opening interview.

You can find Loral here:

Ask Loral

Show Notes

  • [02:01] Loral was a personal trainer and aerobics instructor working her way through college. She raised her rates. Then she got certified after someone asked her about it.
  • [03:27] She majored in finance and then got a masters degree in physiology. She worked at a bank, and noticed there wasn't a fitness center. They gave her 20 Grand to build a corporate fitness center. She became an expert at helping building corporate fitness centers.
  • [04:52] She saw a need and just kept giving.
  • [05:19] Powered people work with what's real right now.
  • [08:05] As a kid Loral was pushed. She still has the school record in 440. She learned to take on challenges and succeed. She played five instruments. In college, fitness was her thing. The finance degree help with corporate fitness.
  • [10:26] Most people set goals that aren't achievable and then go and try to live someone life. Achieve and win your goals.
  • [12:31] Loral seeks help and finds mentor. She found Bob Proctor when she was 20.
  • [14:13] The fastest way to learn is to get close to the person that you want to be like. Focused and uninterrupted builds the best support.
  • [15:47] A lot of people spend time on low priority bullshit. It's a never ending value spiral.
  • [19:20] How to escape from being ran by your business. Investing is critical. It provides a path to cash control.
  • [20:34] Companies make money. Operate out of an entity. Incorporate properly and maximize taxes.
  • [21:39] Sometimes people hire who they can afford as opposed to who they need.
  • [25:21] It's important to communicate to entrepreneurs that I'm facilitating your experimentation without the context, of your business, product, brands, and personalty.
  • [27:36] Get clear and responsible about what your goals are.
  • [28:25] People have a fantasy about entrepreneur. The minute a business owner is done serving, entropy takes over. There is a function in the universe if you care.
  • [29:55] You have to put in the work.
  • [30:11] Everyone who is successful all has bad things said about them and challenges. Even the most successful people.
  • [32:47] I lived in great places and then started investing. Then I lived in Manhattan Beach. I invested where I wanted and lived where I wanted.
  • [33:59] Businesses grow the most when you hire people to do what you don't want to.
  • [34:32] Loral loves selling, teaching, and marketing.
  • [35:44] We can only focus on three things. Be accountable to what is important. Spend time in higher level thinking.
  • [37:05] Traveling and visiting different cultures widens your perspecitive.
  • [37:32] Trust yourself. Whatever it is you create it.

Links and Resources:

Apr 25, 2019

Most people dread tax day, especially those that aren’t prepared and don’t have a plan. If you plan your business and your income correctly using business entities like LLCs, or S Corps, you not only can deduct many operating expenses, but you can even file an extension which lessens that time pressure and gives you an opportunity to step away from the herd.

The only catch is that to be effective and in compliance with legal regulations, you have to do some strategic work up front. First thing is you have to decide what your business and investment goals are and find the right combination of legal entities and where you want to do business. Then you need to make sure that you are in compliance in case you ever have an audit or legal issue. We are here to talk about all of this and offer some options in getting the legal stuff done right.

Disclaimer: We are not lawyers, CPAs, or licensed financial planners.

You can find Scott here:

Ask Loral
(775) 588-9200

Show Notes

  • [03:31]  We are now moving into the next era of money. The current old system was formed in 1933.
  • [04:07] We are going to talk about being a company with the legal right to make money and take advantage of 81,000 pages of deductions.
  • [04:16] We are talking about how to live inside corporate life. We are going to walk through the absolute need for corporate compliance.
  • [04:41] If you don't have a company, you need to decide which type of company you should have and which state you should be in.
  • [04:55] You also need to know how to use the deductions and keep your corporate compliance up in case you are audited.
  • [06:00] We are also going to talk about income, assets, and the choices you need to make to invest off of Wall Street.
  • [08:01] You shouldn't be doing your taxes yourself. You need a tax strategist.
  • [08:45] Loral has a Wealth Cycle product that gives you the basics. You need to find a business to put your taxes in order.
  • [10:14] If you are using an S Corp. The expenses are deducted from the S Corp before you distribute the money to yourself on your personal return.
  • [11:35] Do it yourself without proper guidance is costly when it comes to fixing the mistakes.
  • [13:08] Sometimes you should move to a different state. It depends on where you want to live and how you want to be taxed.
  • [14:43] Your investments should drive the decision on where some of your corporate structure is.
  • [16:07] Do paperwork or be poor. You need to be in compliance with your corporate structure and your deductions.
  • [17:04] A corporation can do anything you want it to do but think and speak for itself. Minutes and resolutions is how your company speaks. You need to treat it as a separate company.
  • [18:31] There are required formalities. There are about 165 minutes and resolutions that need to be kept as a company.
  • [20:09] Minutes are the voice and thought process why decisions are made. A lot of things need to be documented and recorded.
  • [22:15] You need a calendar for 30 days before things are due. Once you put an entity in the air don't take it down.
  • [25:29] The biggest gap is because people don't know they end up doing nothing.
  • [28:15] What do you want and what are you going to have and how are you going to plan your legacy? Create things properly from the beginning.
  • [29:46] You can reconstruct minutes and resolutions by recollection, but you can't back date them.
  • [32:42] Corporate records need minutes and resolutions and ownership certifications. It's imperative to keep up on these minutes and resolutions.
  • [34:38] You type in everything that you have done to create a resolution. Loral has a software product for this.
  • [36:13] You may need diversification and multiple entity structures. Lay out everything and then start growing into it.
  • [40:00] You can have an entity within a trust and move generational money.
  • [46:29] We offer an interactive business guide that will help you document your entities and give you that peace of mind.

Links and Resources:

Loral’s Real Money Talks

Apr 18, 2019

A topic that comes up over and over when we are doing business is Canada. My husband is Canadian. There are a lot of Canadians that want to do business with us here in the US. Here to talk about doing business with Canada is Dave Hare who is a licensed CPA both in the US and Canada.

Dave is a cross-border CPA. He has done corporate business both in the US and Canada. Then he decided to leave the corporate world behind and venture out on his own. He owns 5 multi unit properties and is a successful real estate investor. He recently signed a 5 million dollar deal. Dave talks about the differences between US and Canadian tax entities and cross border investing to maximize your money.

You can find Dave here:

DHare77@gmail.com

Show Notes

  • [01:24] Dave got his degree in Michigan. Then he worked for several years for public accounting firms. After he became a CPA, he went over to the Canadian side and work for companies like Caterpillar and Volkswagen.
  • [02:01] Eventually, Dave decided to branch out on his own and do his own thing instead of working for corporations.
  • [02:18] Dave approached Loral about investing in real estate about a year and a half ago. He signed up for the big table. Now he has five multi unit properties.
  • [03:10] Dave learned how to raise money through Loral, and he became pretty good at it.
  • [03:26] Dave became part of Loral's team in September. Dave drove 37 hours to get to Tahoe and begin working with Loral.
  • [03:47] They have been working on some solid deals including the marina deal and major renovations. He also recently signed a $50 million contract.
  • [04:31] Dave surrounded himself with the right people and the right team. Build a diverse team that will provide you the expertise you need.
  • [05:09] It's tough to find it's cross-border team members.
  • [05:21] Three business structures that apply in Canada are partnerships, limited companies, and sole proprietors.
  • [05:50] Partnerships are where you join with someone to set up a business. You will have a partnership return. Each partner does their own taxes. The tax write offs go to your personal tax returns. Any money you make on the partnership returns go straight to your taxes.
  • [06:20] You have to be careful because of liability issues and tax issues.
  • [06:36] Sole proprietorship's in Canada give you write offs towards your T4 income. This is a great tax strategy from that standpoint.
  • [07:57] You want to make sure you protect your personal assets like your house and your vehicle. You have to be careful with liability issues with a sole venture.
  • [08:55] As a sole proprietor, you may be able to write off 10 to 20% of your house if its use for your business. If you use more than that you might be able to use it as a carryover.
  • [10:12] With the company, the carry forward losses can be used now and in the future.
  • [10:29] If you have T4 income and you start making more money your taxes will be high, so you might want to look at other entities at that point.
  • [11:12] You might want to move into a limited company. You will have more flexibility on write offs.
  • [12:04] If you work from your house, your business will take a 10 to 20% of your house expenses.
  • [13:05] In Canada, you can now write off entertainment expenses if you take out the entire office. You can now write off 50%.
  • [13:56] For business driving, you can use electronic tracking and write that off. You need to be very careful about your record keeping and the rules.
  • [14:36] As a sole proprietor, everything is questioned.
  • [15:05] The benefits of setting up an entity in getting Incorporated. Set up a limited liability company to protect your assets. You will also have more right off opportunities. You can also protect yourself by having an operating agreement or contract.
  • [16:23] If you have a company in Canada, you can also set up a US structure like a c corp.
  • [18:55] Be careful of withholding taxes when setting up entities for businesses that are cross-border.
  • [19:59] Make sure you set things up right from the beginning.
  • [20:21] You can avoid exchange rates by keeping your money someplace where the tax rates are lowest like the US and then using a US credit card.
  • [22:42] To talk to Dave,you need to think about trusts, whether you have children involved, whether you can send money down to the US, and possible insurance products. The plan needs to be individually tailored to you.

Links and Resources:

Mar 21, 2019

David Werba is a blockchain developer who has advised and co-founded several blockchain startups. He is a blockchain and crypto expert who also has experience in the trading world. On this episode, we talk about what a golden cross and death cross is and how it can help affect your decision on when to enter and exit a market.

David breaks down some of the ins and outs of crypto and blockchain including his favorite DPOS chains, advantages of investing in crypto, how to monetize every part of your life with crypto, common mistakes investors make, and how to safely hold your coins and tokens.

You can find David here:

Ask Loral

Show Notes

  • [01:41] The death cross is when the 50-day moving average passes and crosses the 200-day moving average on the downside. This usually sparks the official beginning of a bear market.
  • [02:02] This is what happened at the beginning of 2018 with Bitcoin.
  • [02:17] The golden cross is when the 50-day moving average crosses the 200-day moving average to the upside.
  • [02:33] We are getting pretty close to that moment. There are some alt coins that are about to cross right now. With Bitcoin, it should happen in the next two to three months.
  • [03:01] A lot of professional traders wait for this moment before they put the big money in.
  • [03:17] They short at the death cross and go long at the golden cross.
  • [03:44] Nobody knows when the exact best time to enter the market is.
  • [04:01] David has been working in this industry every day for the past few years. Prior to that, he was a stock and Forex analyst.
  • [04:25] David feels that we are at a price right now where it would be safe to start laddering into the crypto market.
  • [04:49] Usually once the market hits the golden cross, it comes back down, in his opinion, this is the best time to buy.
  • [06:08] Once the bull market starts it's hard to pick a loser with the hundreds of coins.
  • [06:39] David is a fan of Delegated Proof of Stake (DPOS) chains suck as Lisk, EOS, Steem, BitShares, and Ark. The goal of these is scalability by speeding up transactions and block creation without compromising decentralization.
  • [07:14] You could use dividends or staking rewards. This increases your shares by just holding your balance.
  • [08:30] A lot of startups offer monthly bonuses. You earn rewards by holding the coin. With others you get stake in rewards by holding it.
  • [09:10] With the music tokens the streaming is considered the mining.
  • [11:29] David uses whaleshares, because you make money in the process of blogging or using the platform. It's a return on your time. The most exciting part of blockchain in general is the removal of unnecessary middlemen and how it makes monetizing every part of your daily life possible.
  • [13:19] There are different wallets for different coins. It's recommended to hold your coins in the wallet of the native coin. Once buying on the exchange, transfer your BitShares into your BitShare wallet.
  • [15:04] With your own wallets, you are the only one who has the keys, just make sure you don't lose them.
  • [15:48] David's exit strategy after the bull market. The entry and the exit are the most important periods. Don't try to pick one point. Ladder out the same way you ladder in.
  • [18:12] The majority of crypto traders lose money. Without research, people will put all their money in when it goes up a little bit and then if it drops they'll sell before making any profit.
  • [19:28] Do your research don't go off the buzz in the media.
  • [20:27] David is not that high on Ethereum. He prefers EOS.
  • [22:57] Do your research. Golden cross moments are rare.

Links and Resources:

Mar 14, 2019

Have you been searching for that one thing that is your unique gift to share with the world? Have you ever felt trapped or like you are not living to your fullest potential? Steve Olsher is a serial entrepreneur. He is the man behind New Media Summit, a podcaster, and the author of What is Your WHAT?

In this episode, steve takes us through the What is your WHAT framework and explains what it is. We talk about finding your WHAT, discovering what do you want versus what do you need, and the four paths that most people are on. Steve is a reinvention expert and has helped people and corporations become exceptionally clear on their WHAT. This episode is for anyone who has been wondering if they are on the right path or just want more clarity of purpose.

You can find Steve here:

Ask Loral

Show Notes

  • [02:08] Steve has always been wired as an entrepreneur. When he was a kid, he got paid to rake leaves. His first true entrepreneurial venture was opening a non-alcoholic nightclub when he was 19 years old.
  • [02:41] He then moved on to online business including liquor.com and real estate development.
  • [02:58] He has also been speaking, writing, coaching, and podcasting. He also has the New Media Summit live event.
  • [03:59] Steve's favorite entrepreneurial life was whatever he was working on at the time.
  • [04:45] It's important to understand how we actually excel and what puts fire into our soul. Steve has been the first author to create the What is your WHAT framework.
  • [05:40] Being able to answer that core question of, 'What is your WHAT?' is what's going to separate those who meander through life from those who really wake up with a fire in their soul.
  • [06:16] Steve has always been in a continual state of reinvention. At one point, he wondered if he was missing something. He created what he thinks is a simple framework to help people get to those answers.
  • [07:12] In 2009, Steve started what he called a reinvention workshop. It became clear that getting to the core answer of what is your gift and identifying the primary vehicle that you could use to share that gift would create success.
  • [08:22] Then you have to ask who are the people that you are most compelled to serve. Identifying your gift, your vehicle, and your people helps you hit the ground running.
  • [08:52] You can get started that same day by leveraging your gift using your primary vehicle with those people. It's a simple framework that boils down to understanding these three things.
  • [10:01] The why versus the what. The why is external. Your WHAT is internal. It reflects how you are naturally wired to excel. You can choose your why, you can't choose your WHAT.
  • [11:25] There are a lot of hours in the day. Find a small amount of time to work towards your WHAT. Think about creating an offering so you get paid for your WHAT.
  • [13:39] So many people spend their time the same way they spend their money as opposed to investing their time or investing their money.
  • [13:52] Think about what you actually want.
  • [15:02] The four paths. We all identify on one of these paths. A birther knows what they will be doing their entire life. The shifter has to make a subtle shift to the What is your WHAT equation. The reinventors need to do something 100% different. The wanderer wanders through life without clarity about what their WHAT is.
  • [18:36] Sometimes it's just a matter of getting started with something that's different from what you are doing now.
  • [21:00] Start a time journal and find some hours in the day to do what you need to do.
  • [22:18] Your life becomes a reflection of the choices you make.
  • [22:37] During the reinvention workshop Steve takes people through the what is WHAT discovery process.
  • [24:05] You are the solution to someone's problem. It's our obligation to do what we can do to reach them.

Links and Resources:

Mar 7, 2019

Eric DelaBarre is a director, writer, producer and NY Times Best Selling author. He has worked with iconic movie studios and Dick Wolf on Law & Order. He knows content production from the concept stage to post production. He has extensive experience in book publishing and content creation.

In this episode, Eric shares how he began writing in the movie and television industry. We talk about how he transitioned to writing books, and we talk about the best way to make money writing books. Eric shares marketing tips and the importance of writing a killer book. Along with why you want to own your copyright.

You can find Eric here:

Ask Loral
Saltwater Taffy
@EricDelaBarre on Twitter
Eric DelaBarre on Facebook
Eric DelaBarre on Instagram

Show Notes

  • [01:37] Writing is the execution of a thought and being able to download your thoughts and put them into a sentence structure.
  • [02:42] Eric became a writer in college. He didn't take his first English class until he was a junior. He left college early to work with Dick Wolf who was one of the greatest television producers and writers of all time.
  • [02:51] Learning how to write for television and arcs and beats and how to extrapolate a story is very difficult.
  • [03:36] Writing for television is a great way to have multiple streams of income.
  • [05:12] Writing a movie script can be very lucrative.
  • [06:40] People always go to movies even when the economy dips.
  • [07:33] The best way to make money selling books.
  • [08:15] The best way to make money in the book business is to write a killer book.
  • [08:41] Eric wrote a book for kids called Saltwater Taffy.
  • [09:08] It's also hard to get an agent these days.
  • [09:26] There has to be an overall narrative to the story of a book even a nonfiction book.
  • [10:39] Chicken Soup for the Soul was turned down 140 times.
  • [11:30] Writing is about 10% of the job the other 90% is marketing. You have to have a plan to roll things out.
  • [13:19] Eric got turned down by every publisher and distributor in town for his book Saltwater Taffy. He sent out a killer package that included a marketing plan and got a call from what is now Ingram Content Group.
  • [14:02] You need to take a step back and ask what makes your book special.
  • [15:09] Everybody wants to sell their book to a publisher. Now the channels of distribution are wide open.
  • [16:03] With a traditional publisher the advance is usually all the money you will ever see.
  • [16:58] If your book doesn't jump off the shelf, it gets pulled from bookstores.
  • [17:40] The best way is to own your copyright and your intellectual property. You need to own the title.
  • [20:26] Celebrities have a lot of books coming out right now. Being famous makes the marketing much easier. They use a cross-marketing strategy.
  • [24:25] Online marketing ninja tricks. Eric made a bookmark for Saltwater Taffy. He gave these out when he spoke, and he gave them away online.
  • [26:33] Sell a million books to one company. You have to be smart.

Links and Resources:

Feb 28, 2019

I recently held my A New Year A New You webinar which was designed to help you end 2018 right and set up 2019 for success. This is part 3 or the webinar where I talk to crypto and blockchain experts Walt and Dave. These guys have made a fortune developing their own cryptocurrency and investing in existing coins.

They know everything about crypto from starting a coin, to investing, to all of the legal and compliance issues. They will be my expert advisor on an upcoming crypto series that we’re presenting. In this episode, we talk about everything crypto from how to get started, to the difference between digital currency and blockchain, and everything in between.

You can find Loral here:

Ask Loral

Show Notes

  • [01:03] In 1913, The Federal Reserve was founded to build a more stable and secure financial system.
  • [01:49] By the 1970s, the US dollar was no longer backed by physical gold.
  • [02:10] By printing money, the supply of the u.s. dollar is infinite, but the purchasing power goes down.
  • [03:02] Walt is part of the Off Wall Street show. Walt is one of the first experts with a system on how to get your account right.
  • [03:47] We are planning a six-week webinar with Walt and David. It's going to be heavy on content. We will help you set up your account and your wallet and make sure that it is secure.
  • [04:09] You will learn in 6 weeks what it took Walt & David a decade to learn.
  • [05:36] The challenge with learning about a massive new paradigm is time. It would take you years to learn to keep points that we are going to talk about.
  • [06:12] I tracked cryptocurrency everyday. I wanted to go deeper and deeper to really understand it at the fundamental level, so that I could incorporate it into my own business.
  • [06:20] We are going to cover the basics, and then we are going to talk how to build new things.
  • [06:46] By the end of things we will even teach you how to tokenize your own business.
  • [07:10] Our fast track information will save you over a year of research.
  • [07:27] We have navigated through compliance and so much more. The cryptocurrency world is the future.
  • [08:46] Different coins have different value just like different exchanges from all around the world. Digital currency will level the playing field.
  • [09:23] It will level the playing field in the international exchange rate.
  • [09:44] The digital market is tracked with the blockchain. Crypto can also alleviate exchange fees.
  • [10:31] Blockchain is about efficiency and the removal of fraud. It also removes unnecessary middlemen.
  • [11:36] Cryptocurrency is a new asset class. If you wanted to compare it to the stock market, you would have to go back to the first 10 years of the stock market.
  • [12:04] There are optimal periods to move your assets in and out of crypto. It doesn't mirror the market or even real estate.
  • [13:03] To get started dig into podcasts and start going to workshops and figure stuff out.
  • [14:05] How do you vet a new coin? Look at the team and if the project is already built. Don't invest in a plan on a napkin.
  • [15:13] Things are more structured now, and there is more regulation. There are also more projects that people can create with blockchain technology.
  • [16:24] Our team will help you integrate your own tax system with lawyers and entities.
  • [21:07] It's legal to own, buy and sell cryptocurrency.
  • [21:39] It's also exciting to tokenize a business.
  • [23:10] The clients are purely digital and stored in a software wallet that is secure. Physical coins are usually a novelty.
  • [25:17] There is value to the coins. You trade crypto on exchanges. Bitshares is a decentralized exchange.
  • [30:14] Behind the scenes, big players are trying to get their hands on bitcoin and want to control it. Right now, there is opportunity out there.
  • [34:06] There are gambling sites built on EOS where you can get daily dividends based on revenue.
  • [35:21] Once coins are mined out, and there is no more supply, they will continue to rise in value.

Links and Resources:

Feb 21, 2019

This is part two of the New Year New You Webinar where Loral kicks off the new year with a new brand. In this part, Loral talks about how millionaires think about debt and money differently.

She talks about the advantages of having write-offs, how debt can be used strategically, how to invest with OPM or other people’s money, and choosing freedom over retirement. We also meet Walt and David who will be talking about crypto and blockchain.

You can find Loral here:

Ask Loral
Books by Loral

Show Notes

  • [00:40] People have no idea how millionaires live. Your car and your computer are deductible. We used debt as leverage. OPM is other people's money to invest in business.
  • [01:05] We use the money and make money on money. We pay down credit-card debt strategically. We don't retire, we choose freedom.
  • [01:21] What is your freedom day number? Is it 20,000 a month? Is it a hundred thousand a month?
  • [01:55] This is Loral's 22nd year in the financial education space. She buys and sells businesses like a shark. Her team brokers businesses.
  • [02:52] Real estate needs to be structured right. It needs to be in an LLC or a trust and have a management company.
  • [03:18] If you like to go wine tasting, you can incorporate and write off all of your wine travel and expenditures.
  • [04:24] You have hobbies that could be businesses, but you don't run them like a business and you don't get the deductions.
  • [04:29] Loral and the team have revamped the way they are going to work with people to help them get the best out of life.
  • [04:52] We're also going to have a blockchain, crypto, and cannabis workshop with leaders from all over the world.
  • [05:32] There are tons of loan and grant opportunities for veterans. They have access to grants that can get up to $250,000. The problem is a lot of them don't know how to run a business.
  • [06:46] Our goal this year is to work very closely with veterans and help them buy greenhouses. Greenhouses aren't considered cannabis, they are considered real estate.
  • [08:30] These principles apply everywhere in the world including Canada.
  • [10:49] When you're not integrated, you have to go out and try to find each individual team member that you need to deal with. Then you are hoping that everything somehow comes together.
  • [12:02] Our goal with helping you integrate your team is to just use the team that I've found which has taken 20 years to perfect.
  • [12:27] There are eight areas of your life that you need to focus on money, personal development and career, health, spirituality, family, fun, friends, and physical environment.
  • [13:53] Pick only a few to focus on and evaluate, so you can discover what you need to do to get you where you need to go.
  • [14:21] Stop hanging out with people who don't have the same goals as you. Stop complaining and telling stories about 20 years ago.  Stop spending without learning about money.
  • [14:42] Masterminding and coaching can help you with these things.
  • [15:04] Look at the areas and then consider a start, stop, and continue for each area.
  • [17:06] Pick the one or two top areas that you are going to focus on this year. Discover your A, B, and C goals in each category. A goals are the non-negotiable ones.
  • [20:11] What did you accomplish? What do you want? It's all about income and assets. Making money and investing money are the number one ways to become a millionaire.
  • [24:37] Tax reform 2018 was a game-changer. If you understand the strategies around corporations, trusts and investing the chances of you becoming a millionaire in 3 to 5 years is very high.
  • [27:20] David and Walt are here to talk about crypto.
  • [27:57] David started dabbling in crypto in 2013. He then dug into blockchain which is the technology underneath cryptocurrency.
  • [29:14] He then started working on a music coin. This coin utilizes a smart contract system where every time a song is played the artist earns cryptocurrency.
  • [30:06] David and Walt also started tokenizing a business that Walt started.
  • [30:19] Walt was so excited about the whole crypto revolution that is about to blossom into a giant industry.
  • [31:33] Walt has a talent token coin. Most corporations are moving towards blockchain.

Links and Resources:

Feb 14, 2019

This is part one of the New Year New You Webinar where I kick off my new year with a new brand. Brian asks the audience questions like what goals are they trying to accomplish this year, so the team and I can understand how to best help. The feedback helps us make the event as worthwhile as possible. This call is about how my team can help you, but you need to make the commitment.

How many times have you made the same resolution year after year? Today is about finishing 2018 off right and kicking off 2019 in a way that gets results. I talk about opportunities like digital currency, blockchain, cannabis, and crypto and how more generational wealth has changed in the last 20 months than ever before in history.

You can find Loral here:

Ask Loral

Books by Loral

Show Notes

  • [01:30] What goals are you trying to accomplish this year?
  • [01:46] Some answers include double income, more time, more time painting, more involved in investing, developing passive income, developing cannabis money, growing my business, and more.
  • [02:42] Loral is a five time New York Times bestselling author. She has done wonders for people and their finances.
  • [03:44] A lot of people have the same goals year after year and never really get the shift.
  • [03:58] How many years have you said you were going to make more money or lose weight?
  • [04:19] Digital currency will change our financial structure around the world.
  • [04:28] I talk the BCC or the blockchain, crypto, and cannabis Industries.
  • [05:04] Loral has partners in the cannabis space.
  • [06:04] The team can do a lot for you, but you have to make the commitment.
  • [06:42] What we're taught about creating wealth is completely wrong. We are going to talk about completely different ways to create wealth.
  • [07:22] We left the brand Live Out Loud behind in 2018.
  • [08:01] We'll be using are apps this year.
  • [08:22] It's tough to market BCC things like cannabis and crypto when you can't use Facebook and the internet.
  • [09:21] Our content isn't changing, we are just getting clear about how we speak about what we do.
  • [10:15] We are going to be the integrated facilitators to help you form your team and to let you use our team. The academy is there to guide you.
  • [11:07] Big Table members will still be table members plus bonuses.
  • [13:32] A lot of the last Ask Loral was about completing 2018. We put all of our products on sale so that you could treat yourself for the holiday.
  • [15:36] We have added a lot of team members.
  • [16:59] Commitments aren't negotiable. Commitments get results. How you get to the results is negotiable.
  • [17:53] Most resolutions fail in about 10 days. It's time to get motivated and get serious.
  • [18:44] It's time to pay to properly learn about money. Financially you fail, because your sequencing isn't right.
  • [19:31] It's important to get incorporated right away. The timing of how you spend your money and how you make it is so critical.
  • [21:33] I'm challenging you to commit to nail two things this year. I hope money is one of them.
  • [22:26] Shifting your physical environment can change your monitor environment.
  • [22:55] We're taught to get a job to make money. You are then taxed at the highest rate.
  • [23:33] Let us do a 3-year tax review. Our average client gets around $40,000 back.
  • [24:24] One of the problems with this method is that things aren't deductible. You also think that debt and credit cards are bad.
  • [26:20] Retirement has nothing to do with having financial freedom.
  • [26:57] You don't want to get left behind with where we are going financially.
  • [27:23] Employees have been making companies rich for a while.
  • [27:46] The whole system was created in 1933 on Jekyll Island.
  • [28:24] The education system taught people how to specialize to be a worker.
  • [28:46] You can money away tax-free in a Solo IRA. Then you can also have a Roth IRA.
  • [29:53] Don't go on vacations go on business trips.

Links and Resources:

Jan 31, 2019

You make financial decisions everyday of your life. When it comes to lifetime financial planning and investing, choosing the right financial advisor is important. People at anypoint in their financial lives can start educating themselves and making sure they have a cushion in the bank.

More advanced investors will need an advisor to help them make key decisions and take the emotion out of their financial decisions. My guest, Lorraine Ell is here to talk about what you need to know before choosing an advisor to help make your lifetime financial plan.

You can find Lorraine here:

Ask Loral
Better Financial Decisions
Better Money Decisions
Seven Warning Signs You Are Working With the Wrong Advisor
Lorraine Ell on LinkedIn
@lorraineell on Twitter
Bozos, Monsters and Whiz-Bangs

Show Notes

  • [00:58] Lorraine just got back from working in Saudi Arabia and had cash in a bag.
  • [01:26] She also answered an ad in the paper for a financial advisor, and it turned out to be an odd coincidence.
  • [01:50] Lorraine is the author of Bozos, Monsters and Whiz-Bangs. This is what she calls really bad advisers. She wrote the book because she was frustrated by hearing the horror stories of people who had come to her for help.
  • [02:31] Her book is full of antidotes and real true life stories.
  • [03:06] Most financial advisors advise clients to invest in stocks and bonds and high-tax and high-fee investments.
  • [04:14] People need to be coached and guided through financial decisions that they make throughout their lives.
  • [04:55] You can't always be sure that you're getting good advice from any old advisor.
  • [05:40] There are a lot of things you have to look out for because a lot of advice out there isn't beneficial for people.
  • [05:56] Lorraine's firm tries to give value to people's lives.
  • [06:13] Lorraine has a program called Financial Wellness for life. It's a holistic many management oversight program. They think of themselves as more of coaches and guides than investors.
  • [07:13] You can't invest if you don't know what you want the money to do for you.
  • [08:29] Big mistakes people make our lack of planning and lack of generational planning.
  • [08:52] The death of a spouse or partner can create huge money problems if both partners aren't involved in the finances in the beginning.
  • [09:20] People need to organize things for their lives and for their heirs.
  • [10:09] Marriage and money problems can create serious problems.
  • [10:33] Everything in life is touched by money and the decisions that we make around money.
  • [11:38] People don't realize that when they try to do their finances themselves that their emotions get in the way.
  • [12:54] Coaches and guides can help prevent actions caused by financial panic.
  • [14:08] Before investing they do a financial analysis and create a roadmap and then start working on investments.
  • [14:48] You need to understand what the people want the money to do before making a plan.
  • [15:09] Every year everything is revisited. They work on cash flow planning, estate Planning, and end-of-life planning.
  • [15:51] People who are just starting out still need basic guidance.
  • [16:21] Take the time to educate yourself and start saving something. Get an emergency fund with 6 months worth of expenses in the bank.
  • [17:33] Lorraine handles the more conservative parts of the portfolio.
  • [18:06] They also have accounts for kids from babies to early adults.

Links and Resources:

Loral’s Real Money Talks

Jan 24, 2019

John Ferguson has been involved in sales for the last 18 years. He started out selling real estate and soon realized that he needed a system for high-ticket items. He spent two years immersing himself in the world of sales and created a system that can be replicated over and over.

In this episode, we talk about who this system is for and how sales are the root of the success of a business. John talks about knowing your audience and your message and why it is important to qualify leads. He gives several sales tips and information about setting up a team and system. He even shares his favorite headset that he has used to close countless sales.

You can find John here:

Ask Loral
John Ferguson on Instagram
John Ferguson on Facebook

Show Notes

  • [01:29] When John first started out, he began investing in real estate. He soon realized that he didn't have the proper system in place for high ticket sales.
  • [02:18] He began a two-year personal development quest. He started learning the ins-and-outs of sales, speaking, network marketing, and high ticket sales over the telephone.
  • [02:37] It's been a phenomenal whirlwind over the last 18 years helping influencers including himself in the business of high ticket sales over the telephone.
  • [03:13] We all know that we have to sell and enroll new clients in our business or we won't make any money.
  • [03:47] John helps people develop a system from marketing to product to sales team that makes sense for them.
  • [04:38] Your sales team needs to match your product in your company. You can't scale without doing this.
  • [05:02] John has helped MLM companies and influencers and coaches in the real estate and fitness industry. He has even helped medical practitioners.
  • [05:35] John service is for the person or business who wants to take their sales to the next level.
  • [06:43] It's easiest to teach people who are new to sales. Then you can start at the beginning.
  • [08:01] Blue Parrot VXi 450 is the headset John recommends.
  • [10:38] Know your message, and know your audience are the next two steps. You also want to qualify the lead coming into your system.
  • [11:20] You have to establish rules in order to have long-term success.
  • [11:36] You'll have to ask broad-based, intermediate, and pointed questions to know if this prospect is qualified.
  • [12:05] The sales process comes after the lead is qualified.
  • [12:23] A setup call can create an opportunity for the closer to make the deal.
  • [14:28] The pros of being your own sales closer is that you don't have to share the revenue. It can look odd to be the presenter and the closer.
  • [16:48] You actually want to get the customer to chase you.
  • [17:15] Having a sales team creates dedicated people focusing on sales, and you can focus on other things that are more important.
  • [18:52] Design your script in a way that speaks to the audience, but make sure you have specific points engineered in.
  • [19:42] You should have a script on every single call. Every single call is the same and different. Same sales and different person.
  • [20:25] Help people get out of the way to get the services they need. You can connect with their personality type.
  • [21:28] Great sales people find ways to eliminate objections before they are.
  • [22:06] Ask the right questions in the right order to enroll people.
  • [24:01] Turn objections into expectations.
  • [25:08] To get your sales people motivated by sales, they need to earn commissions.
  • [28:49] You can follow John on Instagram and Facebook.

Links and Resources:

Jan 17, 2019

This episode is turned upside down as Brian K. Wright from Success Profiles interviews Loral. Loral shares the industries that first made her a millionaire and how she is excited for today’s new opportunities like cannabis and crypto.

Loral talks about the importance of marketing your books and what it takes to become a bestselling author. She also gives us a quick glimpse into her upcoming book. Loral talks about mindset, understanding money, and having the right team in place.

You can find Justin here:

Ask Loral

Show Notes

  • [03:49] Loral is a five-time New York Times bestselling author. Her new book The Green Rush Millionaires will be coming out next year.
  • [04:17] She is heavily into the cannabis, CBD oil, and health space. She first became a millionaire in the gas and oil and real estate spaces.
  • [04:31] Getting a job and just saving will only keep you small and stuck.
  • [04:46] Companies make money and individuals get taxed. If you're serious about keeping your money, get Incorporated.
  • [05:37] Her cannabis business has 23 acres in Cathedral City and 32 acres in Hawthorne Nevada. They have nine licenses and are putting green houses up right now.
  • [06:10] These are exciting times to be alive, get wealthy, and a write books about it.
  • [06:39] Debt for wealthy people is one of the biggest tools we use. Debt is just the cost of money.
  • [07:22] Most people don't know how to invest. Why would you pay off debt when it is cheap. Instead of being scared about money get educated about it.
  • [08:11] People are scared of money because they don't understand it.
  • [09:14] Take some time and play the Millionaire Maker game and learn to understand money. Understand how it can work for you and be a massive benefit in your life.
  • [09:53] The goal to win the game is to become a millionaire.
  • [10:24] On page 194 of The Millionaire Maker book Loral talks about how to handle debt.
  • [10:38] Transition your debt from personal debt to company debt. Use zero interest credit cards. If you can get cheap money, then why pay it off?
  • [12:01] Focus on how to make more money.
  • [12:46] For an author to become a best-seller you have to stage and organize sales, so you can presell your book.
  • [14:00] Loral uses people's input to generate chapters. This encourages them to buy.
  • [15:06] Loral has a launch calendar to nail a bestseller. You have to as involved in the launch and the post launch process. Have a goal in mind.
  • [16:38] Get with someone who knows the process. Involve other people in the content.
  • [17:12] A book is a great brochure.
  • [17:27] You need a team. An accountant that knows marketing.
  • [19:34] Everybody's an author and everybody should have a book. Have a post-launch plan to recover the time you spend on the book and the book launch.
  • [20:08]  Ask, tell, ask. Come up with some different ideas. Write your book collaboratively. Find out what people want to know. Get input from a focus group.
  • [21:50] The faster you talk and are interviewed the more information you get down. You should use a ghost editor that can grammatically sort out what you say and talk your book out.
  • [24:32] Share content and help other people. Don't wait for the perfect book.
  • [26:40] Use CreateSpace and learn how to market yourself.
  • [27:49] Having a high profile VA that could work with you in your office for awhile would be great.
  • [28:53] You need to be a month out and get ahead of yourself. You need to organize yourself to use them right.
  • [29:40] Grow coaching to invest in real estate. Partner with someone who has already done it.
  • [30:25] Get a sales team to help you sell. Partner with people on real estate.
  • [31:53] A business structure forms a book.

Links and Resources:

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