Info

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.
RSS Feed
2020
September
August
July
June
May
April
March
February
January


2019
December
November
October
September
August
July
June
May
April
March
February
January


2018
December
November
October
September
August
July
June
May
April
March
February
January


2017
December
November
October
September
August
May
April
March
February


All Episodes
Archives
Now displaying: Page 3
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:

Jan 10, 2019

We are kicking off 2019 with financial predictions. Will be talking about the stock market, real estate, cannabis, and more. Today, we are talking about cryptocurrency, digital currency, and blockchain. I have two recent partners and world leading experts here today to talk everything crypto, blockchain, and digital currency.

David has a background in blockchain and Musicoin development and Walt has a trading background. Together they talk about what the future has in store for these technologies. They give some tips on learning about investments. They talk about regulation issues and how congress is struggling with new technology and old laws. They also talk about how impactful these technologies will become.

You can find Walt and David here:

Ask Loral

Show Notes

  • [01:57] David started working at home on web development and then really started digging into blockchain in 2013.
  • [02:59] Blockchain technology is going to have a huge impact. He first started working on Musicoin and then another music technology before he met up with Walt.
  • [03:54] David loves the process of building stuff through blockchain and making it work.
  • [04:05] Walt started out trading bitcoin and crypto currencies.
  • [04:42] He started looking into blockchain and brought David into his team.
  • [05:07] They have an amazing way to use an altcoin.
  • [05:34] Blockchain will create the biggest distribution of wealth that the world has probably ever seen.
  • [06:14] More wealth has been moved through bitcoin than any other wealth movement time in our history.
  • [07:02] Coinbase is the largest crypto wallet in the world. They are gaining over a million users a day.
  • [08:56] In the last six months, the price of Bitcoin has started to stabilize.
  • [09:38] Giant transactions happen in the OTC world.
  • [10:43] A lot of private sellers have their coins in cold storage wallets.
  • [11:19] When the market flips it's going to be very difficult to buy cryptocurrencies.
  • [11:42] There is a one-week hold before you can transfer your currency if you are investing through Coinbase.
  • [12:13] Investing in crypto can be a long-term play. That's how the big investors are looking at it.
  • [13:35] Smart folks are working on infrastructure and development during the bear markets.
  • [14:24] January 3rd 2009 the first block was mined on bitcoin.
  • [15:12] Blockchain technology is what is underneath Bitcoin, so the two do go hand-in-hand.
  • [15:48] Industries like banking and payments are getting majorly disrupted right now. Especially in third world countries and places where banking is more difficult.
  • [16:12] Other sectors that are using this technology include voting, healthcare, music, and many more.
  • [16:50] Blockchain opens up technology for entrepreneurs like the world has never seen.
  • [17:13] Almost every entrepreneur and startup is moving towards blockchain technology.
  • [18:02] Companies like IBM are building their own blockchain. Amazon is working on something. Overstock has their own version.
  • [18:36] Investors are interested in anything that is tied to blockchain.
  • [19:49] The smartest and most acting development isn't happening in Bitcoin.
  • [20:35] Altcoins are usually traded against Bitcoin, but there are many many different types of coins.
  • [22:24] When investing in altcoins it's very important to take a look at the project.
  • [23:41] Developed projects that you can actually see may be safer bets.
  • [24:09] There are already specialized blockchain lawyers available. There is some red tape to go through on the development side.
  • [25:12] There's going to be a four-week webinar series with a Q&A. Go to Ask Loral to find out more.
  • [26:08] The SEC is very involved with crypto. The regulatory agencies are trying to take this new paradigm and pull it back with laws established in the thirties and the forties. There are no easy answers. The debate is going on in Congress right now.
  • [27:41] The ICO approach is beginning to get controlled. Especially as it applies to crowdfunding.
  • [28:28] If your token doesn't have a wide use case then you probably shouldn't build it.
  • [29:03] The future of development is going to be investors wanting to see the reality of what you are building.
  • [31:35] If Congress doesn't do the right thing and not over-regulate that will be good, because we don't want to push Innovation overseas.

Links and Resources:

Jan 3, 2019

I have an old friend on the show today. Joel Comm has been a staple in the digital space for a long time. He is the author of 15 books and the co-host of the mega successful Bad Crypto podcast. He is here today to talk about the future of crypto and more.

We discuss how things have evolved in the digital marketing space and Joel’s own evolution including the creation of his crypto podcast. We talk about the benefits of blockchain as a technology that will revolutionize the future. We talk about the importance of getting in on the ground floor of new markets and the importance of always having fun.

You can find Joel here:

Ask Loral
Bad Crypto Podcast
Fun Formula Book

Show Notes

  • [01:49] Joel Comm has been an internet entrepreneur since 1995.
  • [02:11] He has since written 15 books. He has worked in the online marketing space and the affiliate marketing space and the social media space. He has also embraced all forms of online media from blogging to podcasting to videos.
  • [02:24] In 2017, he started dabbling in crypto currency and was absolutely enthralled.
  • [02:39] Joel and his friend Travis Wright would talk about bitcoin and blockchain and everything crypto. They then decided to start a show about it and the Bad Crypto Podcast was created.
  • [02:41] The purpose of the show was to make crypto easy-to-understand for regular people.
  • [02:59] They started in July of 2017 and have had over 7 million downloads.
  • [03:35] You don't do the books and the speaking tours until you've had the success.
  • [03:44] Joel began his digital career trading websites that sold things. One he cracked the code on affiliate marketing and advertising, he started teaching others how to do it.
  • [04:26] He wrote about and spoke about how he was making money.
  • [05:23] We now know that social media companies don't have our best interest at heart and we are actually the product.
  • [05:51] Blockchain is a great solution because it brings transparency back to various activities. It creates a public ledger of activity, but privacy is woven into it.
  • [06:23] Blockchain is either going to lead to new solutions and more freedom and opportunity for us or we're facing a really dystopian Big Brother future.
  • [07:38] Blockchain is really just a fancy database. Blockchain is decentralized, because no one power or authority has power over it.
  • [08:44] Solutions built on blockchain give people the power to invest in projects in a way that they would like.
  • [09:44] In March 2017, Joel started learning about crypto. He and Travis were talking about crypto a lot. 3 months later they started their show.
  • [11:00] Part of it was timing and two regular guys talking about crypto.
  • [12:13] Bitcoin is merely a better form of digital payment. There are many different types of coins and tokens. With ethereum we have the ability to go beyond just payments. We can write smart contracts.
  • [13:06] There are even tokens that empower musicians to be paid more fairly for online downloads.
  • [14:42] Crypto is kind of circa 1997 where the internet was.
  • [16:11] They do four shows a week and two or three are usually interviews. They never make recommendations.
  • [19:44] Joel's fifteenth book is the The Fun Formula: How Curiosity, Risk-Taking, and Serendipity Can Revolutionize How You Work.
  • [20:47] The fun formula helps liberate people from the hustle and grind.

Links and Resources:

Dec 27, 2018

My friend Jay Fiset is back to talk about joint ventures, masterminds, and the advantages of each. Jay has been a businessman and entrepreneur for years. He is also a staple in the personal development space.

Today, Jay talks about how joint ventures can give you leverage and access that you wouldn't normally have. He also talks about how once you have built relationships and influence, you can leverage that to create your own mastermind group. This group can be a resource to take everyone's business to the next level.

You can find Justin here:

Ask Loral

Show Notes

  • [02:09] Jay has been an entrepreneur for 33 years, and he has spent most of his time in the personal transformation space.
  • [02:27] He runs The Creator's Code which has been attended by 40,000 people from all over the world.
  • [02:30] About six or seven years ago he created Mastermind to Millions. He had already been teaching how to have mastermind groups and just made it to the public.
  • [03:43] He has also had real estate and several businesses. He would invest his money elsewhere.
  • [04:28] Jay teaches authors and coaches how to create a mastermind for an additional stream of revenue.
  • [04:38] Masterminds are one of the fastest ways to create income. When done well it gives us access to network resources.
  • [05:00] We can 10x or 15x our access to resources experience and wisdom by masterminding with people who are movers and shakers.
  • [05:24] It's one thing to go to a mastermind, but it's a completely different thing to run one.
  • [05:39] When you create your own little mastermind joint-venture syndicate you can begin to strategically and wisely put together a team of people that can go out and print money.
  • [07:06] Joint ventures are one of the fastest ways to make money.
  • [07:45] Hand select people for deal flow in cannabis, crypto, AI, etc.  Ride the wave of technology that is coming. Just one great deal will create multiple seven figures.
  • [10:25] The first step is to join joint-venture communities.
  • [11:09] Everybody listening should join Jay's community globally.
  • [12:35] Jay built his reputation by strategically attending events and targeting certain people.
  • [12:52] Once you figure out who you want to support and start supporting them things start to move.
  • [14:29] Being onstage didn't take Loral long to gain a massive following.
  • [17:18] Start with a smaller group not a larger group.
  • [18:54] You can always start a JV group before you start a mastermind group.
  • [19:21] It takes influence and traction to launch a mastermind and the way to get there is through joint ventures.
  • [20:04] The money and conversion happens when we are strategically borrowing the influence of other people that we are partnering with.

Links and Resources:

Dec 20, 2018

Edwin Kelly from Specialized IRA Services is here today to talk about the advantages and flexibility with a self-directed IRA. Whether you need income or tax savings, there are savings and investment vehicles that can help you meet your goals that aren’t tied to the ups and downs of the market.

Today, he talks about how everyone needs a customized plan that fits their circumstances, and he talks about the benefits of using a Roth to withdraw tax-free income. It’s also possible to make creative investments like real estate. You are in the driver’s seat and can invest in anything that is legally allowed by the government.

You can find Edwin here:

Ask Loral

Show Notes

  • [01:12] Edwin is a custodian of IRAs.
  • [01:36] When he was young, he read and studied about some of the great businessmen.
  • [01:55] He knew he wanted to be in business, and he was looking for a niche.
  • [02:01] From study, he noticed that starting a business in a new industry allows your business to expand as the industry expands.
  • [02:14] He wanted to find something that would solve serious financial problems and seemed new. He discovered self-directed retirement accounts although they weren't really new.
  • [02:51] Company-sponsored retirement plans haven't worked as well for people as they thought they would, because of company limitations on investments.
  • [03:27] A self-directed space allows someone to get complete control over their retirement account and invest in anything allowed by the government. The possibilities are endless.
  • [03:35] Edwin found that there wasn't a company doing what he was trying to do and he wanted to enable people to be able to invest in what they wanted.
  • [04:01] There is some confusion about self-directed IRAs. There's what people call self-directed and then there is truly self-directed.
  • [05:09] Most investment banks offer a self-directed fund where you can pick anything that they offer. This is limited to stocks, bonds, mutual funds, and CDs.
  • [05:18] A better question to ask is can you buy a foreclosed property with your retirement account and have your retirement account pay to fix it up and then put a tenant in there and collect rent tax free.
  • [05:49] A true self-directed retirement account has a custodian who allows you to invest in anything that the government allows you to invest in without restrictions.
  • [06:24] There are probably less than 30 firms who specialize in what Edwin's firm does.
  • [07:43] The government tells you what you can't do. You can't buy life insurance inside your retirement account. You can't buy collectibles and no self-dealing. Most everything else is allowed.
  • [10:27] At Specialized they create custom plans for their clients. They use individual retirement accounts. Small business retirement plans like solo 401(k)s. The last category is tax-advantaged specialty accounts.
  • [12:25] The Roth vehicle is the only one that allows us to go from forever tax to never tax. All income is not subject to tax.
  • [14:34] You can invest in an LLC and it can hold all kinds of assets.
  • [16:02] Self-directed retirement accounts are going to be part of your picture not all of the tools. Look at your rate of return and see where it makes sense to put something into a retirement account. Consult with an expert and optimize.
  • [20:10] Edwin gives an example of the power of compound interest.
  • [23:40] An example of a 53 year-old attorney who opened a Roth late. He then built a real estate portfolio within that Roth using leverage. His monthly distribution is now $40,000 a month tax free. He built that in 14 years.

Links and Resources:

Dec 13, 2018

I usually keep my podcast evergreen, but it's getting near the end of the year, and I have to talk about the big five. You have to get incorporated if you are serious about getting rich. Companies make money individuals get taxed.

You have to get your qualified plans, and review your trusts, insurance, wills, and a whole list of other things. Scott Arden from Controllers, Ltd. is here today to talk about the importance of tax entities and why it's so critical to have the correct entity in the year that you want to save on taxes.

You can find Scott here:

Ask Loral
Controllers, Ltd.
(866) 786-3462

Show Notes

  • [02:07] Scott started his first company when he was 19. This is when he first started learning about what he could deduct and how to protect his assets.
  • [02:35] He wanted to know what he could and couldn't do, so he dove into the tax code.
  • [02:59] He was in the asset protection industry for about 20 years.
  • [03:12] He and his business partner wanted to bridge the gap between the legal side and the tax side of companies and they started Controllers, Ltd.
  • [03:23] Tax professionals need to talk to each other on a consistent basis.
  • [03:39] Tax entities are not just about tax savings. There's also liability protection involved.
  • [04:54] Businesses high risk. The premise of corporations and LLCs is to protect assets.
  • [05:27] There are different entity structures. An LLC is kind of a hybrid between a partnership and a corporation.
  • [05:47] A corporation is a separate legal entity. It pays its own taxes.
  • [06:32] Scott has a whole list of questions that will help people determine which type of entity they should create.
  • [07:28] Timing is critical. You want to make sure that you are getting the most bang for your buck in the way of tax deductions.
  • [07:45] Sole proprietors get smashed with self-employment taxes and limited deductions.
  • [08:05] There is still time to take some tax deductions in 2018. If you are a sole proprietor, you can create an entity that has a fiscal year ending as opposed to a calendar your ending.
  • [08:41] You can also put in place a management company that will be overseeing the operations of the business. You can then pay the company for the rest of this year in the first quarter of next year. This allows us to take extra expenses and deductions that will reduce the 2018 tax liability.
  • [10:06] Some of the deductions that you can claim include retirement account, home office account, vehicle account, investments, and more.
  • [12:11] If you've been a sole proprietor for 20 years and you incorporate today, you will lose your past 20 years of credit.
  • [13:25] It's essential to have a proper accounting system in place. You do have to maintain minutes and resolutions. There are quite a few compliance issues that you need to understand.
  • [13:56] The company needs to be able to defend the different deductions that you take throughout the year. There needs to be corresponding minutes and resolutions to back up the transactions. You will also need corresponding documents like an ownership certificate. You want to make sure you clearly separate the corporation from the business owner.
  • [15:32] Fund your company,m so you can pay the proper deductions out of that fund instead of your private money.
  • [16:15] Don't commingle your funds and make sure you know your financials. You can also get your own corporate credit card.
  • [17:57] An example of how a couple went from 50% tax to about 11% tax by partnering with the world's largest wine company.
  • [19:05] Another example of taking advantage of depreciation of an asset to offset taxes with an online store.
  • [19:37] You can take a distribution and then invest it in an asset that will give you a high depreciation.
  • [20:21] Many accountants just barely get people by and overlook smart tax savings.
  • [20:52] You want a professional will who will present ideas that will help you save on taxes.
  • [21:22] Tax planning should be done throughout the year.

Links and Resources:

Loral’s Real Money Talks

Nov 21, 2018

Matt Brauning is a two-time best-selling author, master NLP trainer, entrepreneur, and leader in the field of business development. He was a self-made millionaire by the time he was 25 years old. He is the host of The Purpose Driven Entrepreneur podcast and was featured in The Journey with Brian Tracy and Bob Proctor.

Matt is here today to talk about how to make money based on the seven drives or key principles that leading entrepreneurs and business people have in common. We talk about how our drives change over time, the importance of being transparent and congruent, and the surprising drive that has inspired many ultra successful people.

You can find Matt here:

Ask Loral
The Firebox Principle: The 7 Drives That Fuel Every Entrepreneur and Free Quiz
Matt Brauning
Matt Brauning on LinkedIn
@MattBrauning on Twitter
The Purpose Driven Entrepreneur Podcast

Show Notes

  • [01:56] Matt's book is called The Firebox Principle it's almost like a story of entrepreneurs and visionaries.
  • [02:35] Matt always felt like he was trying to fit in and looking from the outside-in until he started his first business at 22 years old.
  • [02:52] Entrepreneurship was what changed Matt's life.
  • [03:04] The seven drives.
  • [03:12] Matt look at the origin stories of visionary entrepreneurs. They had seven deep motivational drives to create what they created.
  • [04:23] If you understand your deep unconscious drive and the reason you do what you do, your actions will be congruent and you will be driven by the correct principles.
  • [04:25] The significance drive, the artisan drive, the world impact drive, the contribution drive, the spiritual drive, the thrive drive, and the avenger drive.
  • [04:46] Significance is because you want to be important. Artisan is because it's beautiful. You want to change the trajectory of the Earth with the world impact drive. Contribution drive is about the people. Spiritual drive is because the Creator said so. Thrive drive is about money and success.  The avenger drive is about taking a wrong and making it right.
  • [05:49] Drives change over time they're not a personality profile.
  • [06:12] When Matt was young, he was driven by the significance drive.
  • [07:42] I went from the significance drive to the contribution drive overnight.
  • [08:04] If you find yourself shifting drives realize it but don't throw the baby out with the bathwater.
  • [09:04] All of the drives have successful entrepreneurs behind them.
  • [09:15] The Avenger drive is an overarching one among successful entrepreneurs.
  • [11:15] Once you find out what your drive is wave the flag and share your story with everyone.
  • [12:03] If your drives aren't congruent, you can always change them.
  • [13:10] You gain wealth by having a story and real reasons and authenticity behind why you do what you do.
  • [13:41] NLP can help behavioral change. You can take control of your brain and have influence over your life.
  • [14:56] Association disassociation is one of the most underrated techniques in NLP. Looking through a memory in your own eyes is called associated. Watching the memory is called disassociated.
  • [15:40] You can consciously decide when to associate. When you associate with your own eyes the motivation is higher.
  • [16:38] The difference between what you do is based on your association in the morning.
  • [17:03] Look through your mind's eye to accomplish the things you want to accomplish, and it will create more motivation.
  • [17:59] We will always fail and be overwhelmed but the question is what are we going to do with it?

Links and Resources:

Loral’s Real Money Talks

Nov 15, 2018

Loral is interviewed on the Eliances Heroes Show by host David Cogan. They talk about  how Loral became The Millionaire Maker. Loral talks about how she has created a system for creating and keeping wealth.

They talk about having the best systems in place and being surrounded by the best team members and mentors. They also talk about side income, passive income, and understanding the new tax codes and getting the most out of that knowledge.

You can find Loral here:

Ask Loral

Show Notes

  • [00:48] Loral got the name The Millionaire Maker when she was writing a book on how to become a millionaire.
  • [00:55] A focus group from McGraw-Hill came up with this leading title.
  • [01:21] Loral is one of today's most Innovative and visible many experts and that is because she has a system for  becoming a millionaire.
  • [01:40] She was making millionaires, but then she had to write down how to do it.
  • [01:49] What also sets Loral apart is that she practices what she preaches. She's a gas and oil, real estate, and cannabis millionaire. She actively practices what she coaches and mentors.
  • [02:04] to keep on top of everything Laurel finds the best and the brightest team members for each category that she focuses on.
  • [02:36] I find world leading experts and I partner with them.
  • [02:46] Everyone was raised to believe that after you finish school, you get a job and save money if you can, so that someday you can retire. This means you rely on one source of money.
  • [03:11] We need money from various sources, because there are so many variables from losing jobs the markets crashing.
  • [03:30] Our millionaires are made with a variety of income sources including passive income.
  • [03:36] We've dissected the 2018 tax code. You are either going to win big on this tax code, or you're going to lose.
  • [04:27] Retirement by definition is an agricultural word that means to put cattle out to pasture to die. We want people to retire and be free.
  • [05:30] The best way to create wealth now and to continue creating it every day is to be surrounded by the best team. Don't do it by yourself partner with somebody who knows what they're doing.
  • [06:42] When it comes to finding the right team it's about who you know and being commuted to knowledge. Spend your time and money on learning about money.
  • [08:48] When parents work with Loral's team, children are mentored for free.

Links and Resources:

Loral’s Real Money Talks

Nov 8, 2018

The results of marketing are leads, customers, and cash. It's difficult to overemphasize the importance of marketing. It's what all future business and earnings are based on. My guest today is Steve Sipress who is a world leader at systems that enhance marketing efforts and create better businesses.  

He specializes in business systems, selling systems, and marketing systems. Steve shares his background and how he stumbled upon developing systems for sports and then for businesses. He talks about how all businesses want to attract more clients and earn more money and how systems are the way to do that.

You can find Steve here:

Ask Loral
The WOW Strategy
Help from Steve
Steve Sipress

Show Notes

  • [01:55] When Steve was in law school, he wanted to create a way for all of his school friends to stay in touch. It was a game based on sports that kept them in touch. This was a form of fantasy football that he invented.
  • [03:19] It was popular, and he started a second league. He ended up charging and he turned his hobby into a business.
  • [04:25] People asked how he built this business. He started helping people and fell into another business.
  • [05:23] He then became a business consultant and helps people make money with their business no matter what they do.
  • [05:35] All businesses want to attract more clients, better clients, raise prices, and make more money. We all went to put systems in place, so we can work less and enjoy life more.
  • [06:32] The number mistake people make is not respecting marketing. Marketing is everything. That is where the money comes from.
  • [07:25] Marketing is what pays the bills.
  • [07:43] The WOW strategy. The target Who that you want to attract. Then you have to give them an irresistible Offer. The Ways you get your irresistible offer in front of your ideal target customer.
  • [09:48] Make a list of characteristics of your clients. You will find commonalities. Find out what drives them emotionally.  Getting into psychographics or why they want the money. Someone to make money to feel smart, someone to retire early, and some just want to make more money.
  • [11:18] If your target market is everyone then your customer will be no one. You have to have an individual message for each different target client.
  • [12:09] Everyone is different. Millennials vs baby boomers.
  • [12:44] Use social media and do some research and find out who your clients are. Find out what they want and what makes them tick.
  • [14:26] Mirror what they are thinking and then offer it to them.
  • [18:06] When you care about your prospects it's not so tough to be curious and ask questions. Be honest and let them know you care about them and if you can't help them find someone who can.
  • [19:38] People who run businesses supply jobs and keep the economy going.
  • [20:07] Don't be afraid to talk in negative terms or use fear. Everyone has fears.
  • [20:44] Human beings are more motivated to take action against fear.
  • [22:15] 90% of businesses go out of businesses. They pay everyone first go into debt and then run out of money.
  • [23:09] People taking risk and doing good should make the most money of all.
  • [23:27] Find great people to hire.
  • [23:52] An entrepreneur is someone who takes assets and puts them together in a way to produce more assets.

Links and Resources:

Loral’s Real Money Talks

Nov 1, 2018

Digital currency and crypto is going to be the next boom. We are fortunate that even though many fortunes have been made, it’s not too late to get into trading. My guest today is a highly recommended bitcoin expert who is one of the speakers at my event.

Fli Mackie is a bitcoin expert who has made millions trading. He has his own trading method named after himself and a radio show about bitcoin. He is here today to talk about buying in the dip, the importance of giving 10% away, the potential of digital currency, and much more.

You can find Fli here:

Ask Loral
Fli Mackie on Facebook
Fli Mackie on Twitter
Fli's Website

Show Notes

  • [02:06] 10 years ago a friend of Fli's got 600 bitcoin. They knew that someday it would be worth something.
  • [03:20] Fli has always been a trader on the market. His dad would trade and let him pick stocks as a kid.
  • [03:46] Over the last 30 years, Fli has done really well and created his own trading method. He keeps 30% long, 30% short, and 30% liquid. He gives the other 10% away.
  • [04:22] When the market drops it's a great time to be buying. Most people don't understand that you buy in the dip. You make your fortune buying incrementally.
  • [05:45] Fli has been buying bitcoin for 10 years, but he got really serious about it 5 years ago.
  • [06:30] There are 12000 exchanges where you can open up a wallet and put your money in and start trading.
  • [07:26] Fli has a platform where you can buy, and he does all the trading.
  • [07:53] Blockchain verifies who you are and whether you have money. It's on immutable ledger. it's going to eliminate all of the fraud.
  • [09:19] Blockchain verification is going to be huge in all industries. Real estate can close in one day with blockchain technology.
  • [11:09] Blockchain is going to turn social media upside down and require the advertisers to pay us.
  • [11:50] Blockchain will turn the healthcare system upside down with smart document verification.
  • [13:00] Digital money is online. The evolution of the internet and the evolution of money. Fiat money is inflationary.
  • [14:30] There are a million bits in a bitcoin. There are 100 Satoshi per bit.
  • [15:10] There is zero inflation involved with bitcoin.
  • [15:33] If you've been buying incrementally in the dips, you have the opportunity to sell when it hits that bounce.
  • [16:38] Trade bitcoin for other coins and buy and sell the coins as they move and buy more bitcoin.
  • [19:41] Keeping bitcoin safe. Cold storing is downloading the codes off of the Internet and keeping them safe. The codes are only in the wallets when doing trades.
  • [22:44] The Fli Mackie cryptocurrency show is on 1100 KFNX.

Links and Resources:

Oct 18, 2018

Real Estate is one of the best ways to create and grow wealth. My friend Lance Edwards is here to talk about how to get into small apartment investing and create wealth by scaling up. Lance talks about the three methods for creating deal flow including his secret weapon.

Lance Edwards is a best selling author, real estate investor, teacher, and radio and TV personality. In this episode, he breaks down what small apartment investing is and how it can be so much more lucrative than single family home investing. He also talks about the advantages of direct seller negotiation including down payments, interest rates, and no personal guarantees.

You can find Lance here:

Deals & Dollars Club
Lance on Facebook
Lance on Twitter
Ask Loral

Show Notes

  • [01:50] Lance has been involved with real estate since 2002. He was in the process of trying to find ways to make extra money.
  • [02:38] His first deal was a fourplex with no money down. Within 2 1/2 years he had done 50 deals using other people's money on a part-time basis.
  • [02:55] Within three years of his start in small apartments, he was able to retire from a 20 year corporate job.
  • [03:02] He has been doing real estate full-time since 2005. He has been teaching others how to do the same thing since 2007.
  • [03:16] There is so much less competition was small apartments than single-family. You make bigger numbers for the same effort. Plus you can buy these properties for cash flow or flip them.
  • [03:45] My best-selling book is How to Make Big Money in Small Apartments.
  • [04:37] Rental houses don't have the cash flow that small apartments do. Apartments are built to be income producing vehicles.
  • [05:17] You can buy 10 houses or one 10 unit apartment complex. Start with a small apartment building and scale up. It's all very simple math.
  • [06:36] Learn the business and understand the basics. Then decide if you want to do it yourself or have us do it for you. We do a lot of done for you services to find sellers and buyers. At the end of the day, you need to find sellers and buyers or investors.
  • [07:33] Three methods for deal flow are websites, brokers, or direct mail.
  • [08:06] Brokers can give you access to pocket listings that are not available on the public websites.
  • [08:12] The secret weapon is direct mail. This is sending mail directly to an owner asking if they are interested in selling. This cuts out the competition and gives you direct contact to negotiate for things like seller financing.
  • [09:03] Negotiate your own down payment and interest rate with no personal guarantee.
  • [10:29] When you sign a personal guarantee or recourse loan. The bank can take your property and come after you personally.
  • [10:53] With seller financing, you can purchase a property with monthly installment payments for a few years. There is no credit check, everything is negotiable, and there is no personal guarantee.
  • [11:13] If you default on the note, the seller takes the property back, but they don't come after you personally.
  • [12:22] Flip one, flip one, flip one, hold one is the path to financial success. Create deal flow and flip properties while you cherry pick the ones you want to keep.
  • [13:39] Use other people's money for leverage. Use private investors or self-directed IRA investors. Tap into other people's resources. The only thing that holds you back is deal flow.
  • [15:15] The investor can be a lender or an equity partner. They loan me $50,000 and I give them 6% interest. An equity partner may get 1/3 of the property value and income.
  • [16:56] You can negotiate the terms of your loan with your private lender. Deferring interest will boost cash flow.
  • [18:01] Small, midsize, and large apartments. Corporations own large properties. Midsize is the space of mom and pop investors.
  • [19:39] Everything is the same with the midsize. There are just more zeros on the check.
  • [20:18] Forced appreciation. Increasing the net operating income. Raising rents or reducing operating costs. Raising occupancy also raises value.
  • [25:16] Don't make the mistake of thinking that you are not qualified to get started.

Links and Resources:

Oct 11, 2018

Amanda Holbrook from Specialized IRA Services is here with me today. We are talking about self-directed IRAs. We go into the details of how you can open one or how you can transfer an old 401(k) into one. True self-direction is not limited to stocks and bonds. Self-directed accounts allow you to get off of Wall Street and onto Main Street by investing in tangible assets.

When it comes to making and keeping money, tax advantages as well as having capitol to invest are major advantages. Having a team to help you set up something like a self-directed account can make it easy to begin earning and saving like never before. Amanda shares strategies and clears up misconceptions about this smart retirement strategy.

You can find Amanda here:

Ask Loral

Show Notes

  • [02:27] Amanda started out working in the conventional lending industry. She then discovered peer-to-peer investing. Then she found out with the self-directed IRA, we can be private lenders to each other.
  • [03:11] Self-Directed IRAs are the vehicle that lets you invest in something that you know.
  • [03:31] True self-direction is not being limited to stocks, bonds and mutual funds. You can also invest in the nontraditional space.
  • [04:34] With a self-directed IRA you have a lot more creative opportunities to get double-digit returns on your money.
  • [04:51] Anyone with a social security number and earned income can have a Roth IRA.
  • [05:16] With an old employer 401K it is to roll it into a self-directed IRA.
  • [05:39] With a Roth IRA you pay the tax on the seed not the crop.
  • [05:44] Get your kids started with a Roth IRA. It's how to build the trust fund babies of tomorrow.
  • [05:52] The entire point is to get the money off of Wall Street and back onto Main Street.
  • [06:28] Get professional pictures of your baby done and issue them a 1099 for the Roth seed. The limit for the year is $5500.
  • [07:13] If this $5500 grows at 10% until your baby is 591/2, you have over 2.5 million of tax free income for your child. Take action today to set your children up monumentally for tomorrow.
  • [08:12] There are three steps to moving a 401k. Once you have deposited the funds, you can pick a non-traditional investment.
  • [09:20] There are no tax consequences as long as you keep the vehicle the same. It's a lateral move.
  • [09:45] Self-directed means you are not limited to, stocks, bonds and mutual funds anymore.
  • [12:04] A Roth IRA is a big piece of how you can keep your money. The taxes are already paid.
  • [12:24] A Roth solo 401(k) is the account to have for self-employed people. You can put 18,500 in the tax-free portion and up to 36,000 in the tax-deferred portion.
  • [13:35] Your Roth IRA can also be zero cost capital. You can take a loan out and pay yourself back.
  • [14:47] You can bite tangible assets like gold, real estate, and other investments. You can have tangible investments that are insured in your tax-free account.
  • [15:58] When you purchase a property and do a deal you do it in the name of your IRA. It is all about how you title the property. All expenses come from the account and all profits go back into the account.
  • [16:49] You can also be a lender. When the money is made payable it's payable to your account. This is how the money grows tax-free. Month after month after month.
  • [17:41] Things that can't be included are life insurance policies, collectibles like artwork, and you can't fund yourself in a business dealing.
  • [18:30] You can't benefit out of the retirement account in the here and now. Your spouse is also off-limits. Aunts, uncles, nieces, nephews, are all okay to do business with.
  • [19:33] Things to look for when finding the team. Find people who practice what they preach. Find innovators who also execute.
  • [21:27] Knowledge doesn't just make you successful. Execution leads to the success.
  • [21:45] Look for experience behind the table. Make sure you are dealing with a fully licensed custodian and make sure you understand the fees.
  • [22:23] There are set up, annual, and transaction fees. Specialized gives unlimited buy sell transactions for a flat fee of $250 a year.
  • [24:17] Think about whether you want to just dip your toe in the water or get your whole family on board with specialized platinum service.
  • [24:28] To take action, you decide, deposit, and direct.

Links and Resources:

Oct 4, 2018

If you feel like you missed out on some of the big earning opportunities of the past, you are in luck. There are three big learning opportunities right now. The cannabis industry, blockchain technology, and cryptocurrencies are changing everything. There are huge opportunities in this space.

I’ll be in Las Vegas in October talking about these opportunities with a team of experts. I'll also be at the Big Table Mastermind in November. My guest today is Don Beavers a researcher, coder, and a crypto expert. He describes himself as a guy who knows a lot about math. Today, we talk about some of the new opportunities that are opening up and how to get in on the ground floor.

You can find Don here:

Ask Loral
Don on LinkedIn
Don on Twitter

Show Notes

  • [02:11] Blockchain is a method of data storage. It's a distributive ledger. It's like a giant spreadsheet that is duplicated thousands of times on a network of computers that also keeps it updated.
  • [02:54] The data is public and easily verifiable. It doesn't have a single location or a single point of failure.
  • [03:40] When transactions occur, the data is encoded in digital data or encrypted. Each block is connected to the one before it and the one after it and it creates a chain.
  • [04:52] Blockchain provides you with an immutable indelible record of your transactions or data. A software interface using blockchain will be customized by the industry.
  • [06:51] One way to invest in blockchain is to invest in companies that are already adopting the technology. You can also participate in the industry by offering your own tokens for services.
  • [09:36] Blockchain and Bitcoin are two different things. Blockchain is the technology behind crypto, but blockchain can be used for other platforms.
  • [11:05] Don got into blockchain, because he is building a rocket and wants to track every component going into that rocket.
  • [12:14] Blockchain is so economical and easy to work with that you can use it to track every single instance of something. It's perfect for financial data and medical records.
  • [14:27] Don got into blockchain when one of his friends website was hacked. The data was encrypted and the hacker demanded bitcoin.
  • [15:22] He was able to recover the website and started looking at the technology behind bitcoin. He realized the potential for blockchain.
  • [15:55] Blockchain is going to make the world a better place.
  • [17:11] One of the most amazing opportunities out there is pharmaceuticals and the marijuana related industries.
  • [17:29] This industry requires a large amount of data acquisition. Blockchain is the perfect solution to handle the infrastructure for this data.
  • [18:18] At the October event, Don is going to talk about how blockchain is going to make the cannabis industry viable and about cryptocurrencies that are safe to invest in.
  • [19:12] When you get to know blockchain, you will catch the excitement, because it is going to absolutely change the world.

Links and Resources:

Sep 27, 2018

Real estate is one of the fastest paths to becoming a millionaire. My friend and mentor Ron LeGrand is here today to talk about how to get started investing in real estate and why it is such a great investment.

Ron also shares his outlook on the market. It’s possible to mitigate risk and even make money on a downturn. There will always be people who want to buy houses and people who want to sell houses. Ron has been a successful real estate investor for 36 years, and he teaches other people to do the same.

You can find Ron here:

Ask Loral
Ron's Website
Ron on YouTube
Ron on Twitter
Ron on Facebook

[bctt tweet="‘I'm a firm believer in multiple income streams. Real estate is just one vehicle for creating income.’ -Ron LeGrand" username="liveoutloud"]

Show Notes

  • [01:39] Ron started out with nothing and knowing nothing. All of a sudden, things clicked. He was a mechanic at a service station and decided he didn't want to do that anymore.
  • [01:58] He started looking for an alternative, and what he found was real estate.
  • [02:24] Ron is a firm believer in multiple income streams. Real estate is just one vehicle to create income.
  • [02:31] Ron has multiple businesses and has learned how to get out of the way and let people do what they do best.
  • [02:47] Real estate today is more systematized and automated than it ever has been. We have built step-by-step systems for people. We even have a whole team of virtual assistance.
  • [03:12] We have virtual assistance that call sellers and do all the things that entrepreneurs don't want to do, so that we can sit back and do what we are supposed to do and that is make decisions.
  • [03:16] Ron buys three or four houses a month and it hardly takes any of his time.
  • [03:40] Real estate has been very good to Ron, but like any other business, you have to learn how to do it correctly.
  • [04:16] Ron shares his outlook on today's real estate market. He has seen five real estate cycles of ups and downs in the last 36 years.
  • [04:40] There has never been a year when you couldn't buy and sell houses.
  • [04:55] There will be a correction, because there always is one. We just don't know when it will happen.
  • [05:16] Guaranteeing debt is the number one biggest mistake that you can make.
  • [05:31] The worst that can happen in a downturn is you lose assets that you got for free anyway.
  • [06:43] Real estate is just a mutual fund with a house on it. Too many people are in a hurry to sell the property, which is really the golden goose that is bringing them money.
  • [07:28] You can free up capital by letting real estate generate money.
  • [08:36] The five steps to business. Locate prospects. Prescreen those prospects. Construct and present offers. Follow-up and get it in writing. Get it into cash quickly.
  • [10:09] The entire process is now automated. All I have to do is decide who I want to buy from and then agree upon the terms.
  • [10:41] The Gold Club can help you find prospects.
  • [13:08] The ugly house side is about price. The pretty house side is about terms.
  • [14:19] Look for people who will give you great terms like nothing down and a low monthly payment.
  • [15:30] IRA money as a source of funding. You can use IRA money to pay cash for houses that you get at a deep discount. You can then flip them right away or after a rehab. Your profit goes back into the IRA tax-free.
  • [17:14] There is no limit with how much profit your IRA can make.
  • [17:33] You don't need money to buy a house with nothing down.
  • [18:37] You can also borrow money from a private lender. A lot of this money comes from people's IRAs.
  • [20:12] It's hard for some people to stop doing everything and let other team members help them. But it really is the way to be successful with a real estate system.

Links and Resources:

Sep 20, 2018

Customers are the backbone of almost any business. On this podcast, we focus on making money, keeping money, investing money, and having an integrated ninja team to help along the way. My guest today, is Zackary Babcock from the Underdog Empowerment Podcast. Zachary’s ninja skill is understanding and focusing on the customer.

Today, we talk about how to focusing on your customer. We talk about finding out what your customers wants and needs and offering solutions to their problems. Zackary shares tips on how to create a customer avatar, even if you don’t have existing customers. He also shares his inspiring story of picking himself up when he had hit rock bottom.

You can find Zackary here:

Ask Loral
Underdog Empowerment Podcast

Show Notes

  • [01:54] Zachary spent over five years in prison stemming from drug charges. When he came home it was difficult to find a job. He started working at a bar and grill. Then he was hired at a clothing store, had tremendous sales, got promoted, and then fired for being a felon
  • [03:06] He ended up going back to prison and missed the birth of his children because of it.
  • [03:23] When he got out of prison, he became involved with a network marketing opportunity. He knew this wasn't his true calling, and eventually made the jump into coaching.
  • [03:58] Zackary didn't really have success until he started studying his audience and asking what are their core values and their core needs.
  • [04:58] He got crystal clear on the types of problems that his audience was having.
  • [05:05] If you don't have clients, you can still create customer profiles by targeting the type of people you would like to work for.
  • [06:00] The offer has to be relevant to the customer's core values and needs. Your message also has to resonate with the customer.
  • [08:26] Instead of a traditional funnel, Zackary likes to use a relationship funnel. He skips the introductory offer and goes straight to the core offer.
  • [10:12] You can still down sale to people who don't purchase the offer.
  • [10:42] The main problem that Zackary solves is helping people get started. They need grit and tenacity, not every single resource.
  • [12:20] Zackary likes to use Clickfunnels, content from Russell Brunson, TubeBuddy, Dropbox, Photoshop, and more.
  • [13:55] Zackary hires copywriters to help attract organic traffic. People buy for emotion not features.
  • [15:42] Video quality production makes a difference, but you don't have to make it too complicated. The most important thing is having good content and attracting the right people.
  • [16:54] Don't compare your chapter 1 to someone else's chapter 26. Don't compare yourself to anyone but yourself from yesterday.
  • [18:09] Get clear on who you are serving and the problem that you solving.

Links and Resources:

Sep 13, 2018

Cryptocurrency is going to change the way we do banking. If we don’t keep up with this technology, it will take off without us. Matthew Herrick is the co-founder and CEO of Ledger Leap an enterprise blockchain solution. This is an exciting episode where Matthew clears up misconceptions about what bitcoin, blockchain, ICOs, and ethereum actually are.

He talks about smart contracts and how he and his partner used the blockchain platform to create a real estate platform that gets buyers reduced commissions of 1%. This platform also simplifies and speeds up the real estate process and saves brokers time, money, and acquisition costs. He then used his existing infrastructure to launch a business to help others use blockchain technology to create token based businesses.

You can find Scott here:

Ask Loral
Ledger Leap
Deed Coin Launch
Deed Coin

Show Notes

  • [01:36] Ledger Leap came about by accident after Matthew and his co-founder created a real estate platform powered by blockchain.
  • [02:08] They created the largest real estate brokerage referral network. They had to build all of the tools to make things work.
  • [02:45] After creating the real estate product, they had the team in place to create more products.
  • [03:53] OpenTable saw his work and wanted some advice. His team was in place, so they just built the platform. This led to the business of Ledger Leap.
  • [04:28] Blockchain is a technology that solves problems. It was secretly created by Satoshi Nakamoto. It was released upon the world in the form of bitcoin.
  • [05:27] Bitcoin allowed people to transfer currency all over the world with no central control and almost no fees.
  • [05:47] The cost was just the amount of power to do the computer transaction.
  • [05:51] Bitcoin threw the world for a loop. Once bitcoin gained notoriety, people discovered that blockchain can make other things work.
  • [06:07] This thing that makes bitcoin work can be used for other things. Then we saw the evolution of the smart contract which is Ethereum. Ethereum is not a cryptocurrency.
  • [06:12] Etherium is a program for building platforms on blockchain.
  • [06:21] The coin ethereum is used as gas to push the smart contracts built by ethereum out of the nest.
  • [06:39] There are also equities that have been turned into digital currencies.
  • [07:22] How blockchain is used for Matthew's real estate platform. They tokenize real estate commissions.
  • [08:16] Consumers have pushed back against 6% real estate fees. Each percentage point is broken up into 10 tokens. Brokers need to make some money so they set a stop at 10%.
  • [09:42] Sellers can pay 1% instead of 10%. People didn't think brokers would get on board, but they did because client acquisition is hard.
  • [10:05] Each broker within a 50 mile radius is in charge of the coin holders in that area.
  • [10:29] The real estate platform is called Deed Coin and it works similar to Trello. Administrative backed work can be done on the platform. This speeds up the process with all of the different vendors required.
  • [12:25] Redfin doubled in 6 months because they brought commissions down to 4%.
  • [13:29] An ICO is an initial coin offering. Which is similar to an initial public offering or IPO. This makes people think that it is an investment.
  • [15:01] You shouldn't get to ask for money unless you have a project, build a thing, and have a platform.
  • [15:19] At Ledger Leap they only look at token sales. If it doesn't exist, stay the heck away from it.
  • [15:49] Ledger fund helps you build and takes a percentage of the token fund. But it has to be a business that has been running for at least a year.
  • [16:46] The product or platform has to at least have users or a very convincing pitch.
  • [17:06] At Ledger Leap we get to be the change that we want to see.
  • [17:35] Bitcoin is a great hedge against regular currency. It's a digital value that can't be taken away.
  • [20:04] If you can feel it, hold it, or touch it then it doesn't need to be on blockchain.
  • [22:16] If you don't understand how a token operates, don't invest in it.
  • [22:40] If you don't understand how the technology works, stay away from ICO's and invest in existing technologies like bitcoin.
  • [23:22] Blockchain is excellent for shipping companies and supply chain and logistics. There would be no such thing as accounting errors with blockchain. It's perfect for storing information like titles and deeds.
  • [24:45] Blockchain is the best bookkeeper in the world.

Links and Resources:

Sep 6, 2018

How many of you have ever wanted to become a millionaire? Grow a successful business? Have a nice portfolio, and know that you don’t have to work for ever and ever for the rest of your life? Would you like to build generational wealth? Money doesn’t stop, you need to know how to grow and protect it.

If you would like to know the answer to these questions, take a seat at the big table and choose to become a millionaire? Today’s podcast is from a Big Table webinar presented by Loral about becoming a millionaire and starting with a money makeover. She is also joined by Scott Arden of Controllers, Ltd. to talk about taxes and entities.

You can find Scott here:

Ask Loral
Controllers, Ltd.

Show Notes

  • [01:40] Today we learn how to become a millionaire.
  • [01:41] Money starts the day you walk onto the planet and stops the day you walk off. The problem is many of us aren't taught about money.
  • [03:25] So what? Now what? Most people don't talk about money.
  • [03:51] Wealthy people have very open conversations about money and share information and team members.
  • [04:06] Today's podcast is a recording of a webinar that actually does a money makeover.
  • [04:30] Loral grew up in Nebraska and earned a finance business degree. She tried working in a bank and then got a Masters degree in exercise physiology.
  • [05:00] She then became a health consultant.
  • [05:09] Being hired by Chevron was one of her aha moments, and Loral wrote a book about it. At Chevron, she helped build fitness centers on offshore oil rigs.
  • [05:58] She then worked at the corporate headquarters in San Francisco. She traveled all over the world building corporate fitness centers.
  • [06:09] In 1996, she dropped everything to promote Robert Kiyosaki's cashflow game.
  • [06:53] After Rich Dad Poor Dad, Loral started her first company Live Out Loud.
  • [06:57] She has been Shark Tanking businesses since 1999.
  • [07:37] Being part of a community and being able to talk to anybody you want about money is so important.
  • [07:56] Loral has had real estate companies, gas and oil companies, and she's currently heavy into the cannabis world.
  • [08:35] In 1933, the banking system was formed. Seven of the wealthiest families in the world collaborated on how to build an economy.
  • [09:07] Loral is a huge fan of getting off of Wall Street.
  • [10:54] The system is designed so the rich get richer and the poor get poorer.
  • [11:13] We have to deal with money anyway, why not learn to do it right?
  • [12:11] Teaching people to get jobs creates a lot of employees.
  • [13:07] As you get wealthier, we teach you how to save on taxes and only pay yourself what you need.
  • [14:21] Relying on others to pay you is risky. Debt is a way to leverage your money to become a millionaire.
  • [18:44] When you have a business, there are so many ways to write things off. Living your life inside corporate life.
  • [20:35] You need to understand how to live this lifestyle and how to teach your kids to live it.
  • [21:22] Debt is just the cost of money.
  • [22:03] You have to get out of sole proprietor land and get committed.
  • [22:24] Scott Arden with Controllers, Ltd. is here to talk about entities.
  • [22:33] Scott is an entity and tax and compliance expert.
  • [23:39] Scott has been in the asset planning and protection industry for 22 years.
  • [23:55] He worked for one of the top asset protection firms and now has his own company.
  • [24:03] There is a huge breakdown between people's entities and their tax side.
  • [24:25] Scott and his partner bridge that gap.
  • [25:25] LLCs are the most widely used entity. They can be taxed with four different methods. It is the most flexible method.
  • [26:50] S Corp is an election to allow profit and losses to pass through.
  • [27:19] Limited partnerships are great for estate planning and asset protections.
  • [27:44] Trusts like revocable trusts are great for passing assets. Irrevocable trust grants assets to beneficiaries.
  • [30:00] The tax code is now written more for corporate owners.
  • [31:03] Using a C Corp structure, you can have a flat tax rate of 21% regardless of how much you make.
  • [32:19] The biggest deduction is qualified business income. We are allowed to take a 20% deduction right off the top.
  • [33:12] Service based individuals are not afforded this deduction, so there are different strategies that need to be deployed.
  • [33:59] There are no more meal and entertainment deductions. Trusts have changed.
  • [36:13] Have a team support you to live your life like a business.
  • [37:29] We can look at your tax information and generate a custom report that is specific to you. It will outline your deductions, and it is all backed up by the IRS publications.
  • [40:27] Discover what you want and how you want to get there. This information is in my book The Millionaire Maker.
  • [43:05] Loral shares the Money Makeover and asks when is your Freedom Day?
  • [44:45] A gap analysis looks at where you are versus where you want and puts a plan together.
  • [45:17] The Big Table is a mastermind for you and your family for the rest of your life.

Links and Resources:

Aug 30, 2018

Selling is one of those skills that can benefit your finances and your personal life. I have a special guest today, Ross Jeffries is a sales expert and the author of Subtle Words That Sell: How To Get Your Prospects To Convince Themselves To Buy Without Pushing, Pressuring Or Pitching. On today’s show, Ross shares the importance of mindset, how to be a service decision technician, and implied relationship words.  

Ross learned the power of selling early on when he was dating and started learning about NLP to help persuade women to go out with him. Soon he realized that these same selling and persuasion principles could be used in the sales arena. This episode will change the way you look at sales and how to speak with prospects.  

You can find Ross here:

Ask Loral

Show Notes

  • [01:59] 20 years ago Ross became involved with NLP. This is neuro linguistic programming which is the study of how language structures consciousness, shapes decisions, and drives behavior.  
  • [02:20] He learned how to communicate in a way that was charming and help them get past his peers. 
  • [02:30] Ross realized if he could sell himself to get a date, he could sell other things to make money. 
  • [02:37] He also learn to develop a mindset that was able to handle the word no.  
  • [03:10] He has been training sales teams to do what he calls subtle selling. 
  • [03:15] The art of getting your prospect to convince themselves to buy without having a pressure driven pitch. 
  • [03:26] Ross's book is called Subtle Words That Sell: How To Get Your Prospects To Convince Themselves To Buy Without Pushing, Pressuring Or Pitching
  • [04:05] Myths about selling. You are selling your product or service. You are never selling your product, you are selling decisions and good feelings about decisions.  
  • [04:56] Thinking of yourself as a service decision technician relieves the pressure. 
  • [05:35] The second method is that it's crucial to get rapport. Rapport is important, but you want people to be responsive to you. 
  • [06:59] Capture the imagination and the emotions of your prospect and lead them to make the decision. 
  • [08:45] It's not just a matter of getting people to trust you, it's getting people to trust that they can do it and make it in life. 
  • [09:03] Getting people to trust themselves is much more difficult. A real coach and salesperson gets people to trust that they can do it. 
  • [10:17] The difference between influence and manipulation. Influence is about expanding the minds of your prospects to encompass ideas. 
  • [12:34] Mindset is at least half the game. 
  • [13:28] The system to selling. Structure of your language in communication. 
  • [15:09] A tool to increase your sales by 20%. Using implied relationship words. You want to create a relationship with the people you are selling to. 
  • [15:51] Ask your prospect to promise to share their questions with you. Use words like we and together which imply a relationship. Will you promise me? We don't make promises to people who we don't trust. Buying into these words creates the unconscious mind set of already having a relationship. 
  • [17:55] How to crush objection. First responses are not written in stone. They are usually a reflection of what they are thinking or feeling. 
  • [18:26] People have buttons around money. 
  • [19:26] Reframe their objections and clear things up to move forward. 
  • [22:29] The difference between someone just plodding along and someone who has joy in being a transformational teacher. 
  • [23:34] In Ross's book, he lays out all the fundamental principles that make the tools powerful. There are also transcripts of training sessions. 
  • [24:41] Ross's book was a labor of love. 
  • [25:00] The vending machine metaphor for success. You have to accept and embrace chaos. Recognize that every situation is something that you can learn from. 
  • [27:12] See what you did right and then pick apart what you could do differently. 
  • [27:48] How important it is to get a coach and mentor. 

Links and Resources:

Aug 16, 2018

A mortgage is one of the best ways to leverage you money, especially for real estate investors. Today, I have one of the most knowledgeable people I know when it comes to mortgages. Elysia Stobbe is a mortgage expert who has closed over $300 million in residential mortgages. During the real estate downturn of 2006, Elysia not only survived, but she thrived.

She is an expert in VA mortgages and helping first time home buyers. She has been featured on FOX, ABC, NBC, CBS, and more. She is a national speaker and bestselling author. We talk about different types of mortgages, the importance of good credit, real estate for investors, the state of the real estate market, and the new tax laws.

You can find Elysia here:

Ask Loral
Elysia Stobbe Books

Show Notes

  • [01:17] Elysia started in sales about a quarter century ago. She started investing in real estate on the side and loved it.
  • [01:38] She transitioned over to the mortgage industry about 15 years ago.
  • [01:46] She's done everything from cash flow investing to notes.
  • [02:33] We are long overdue for a market correction. If you look at the market cycle, every 8 to 12 years there is a downswing.
  • [02:54] It looks like a slow decline may have started in March. It's not a big huge crash.
  • [04:00] Seattle, Washington is on fire they are not experiencing any type of decline. Big cities like New York are seeing less transactions closed.
  • [04:43] The average sale price is also starting to decline.
  • [05:33] A lot of new investors are jumping into the market. These people definitely need guidance.
  • [06:18] From an investor standpoint, there are still great properties available that cash flow.
  • [06:42] Stick to your system with real estate investing.
  • [07:11] Money rules that investors frequently break. Investing without having a plan. Having money discipline and having a budget or financial freedom plan. Living above their means.
  • [09:07] How to pick a mortgage that is right for you. Go through the options and choose the plan that is right for you. Not asking enough questions and doing enough due diligence.
  • [11:10] Credit is critical to your interest rate and how much you can qualify for. Credit is fluid. It is critical to keep an eye on your credit.
  • [12:13] People with great credit scores have more access to money across the board.
  • [12:50] Don't spend more than you can afford pay your bills on time every month.
  • [13:13] For investors, the down payment is a function of their specific plan. The great thing about real estate is that it is an amazing opportunity to leverage.
  • [14:31] Any mortgage is a personal decision. Over all reverse mortgages depend on whatever cash is available and can help some people.
  • [16:30] The number of mortgages you can have depends. The economy right now is ripe for investors to take advantage of leveraging.
  • [17:28] People used to be capped at 10 mortgages, but now the cap is back up to 20. A married couple could leverage on 40 mortgages.
  • [18:43] IRAs are a great opportunity, and people don't do enough of it.
  • [20:24] The new tax laws do help several states benefit. The more people educate themselves, the better things will be moving forward.

Links and Resources:

Aug 9, 2018

This episode is from a Facebook LIVE Lunch with Loral session. Today, I talk about what is going on in the world of Cannabis. This is a quick catch up with what me and my team and partners have been doing in the Cannabis industry. The Green Rush is going to be way bigger than the dot com rush. That is why I decided a year ago that I was going to get into the Cannabis industry.

My partners and I now have a 23 acre facility in Cathedral City where the condos will be. This will be an area for cultivation with shared resources. We will have a manufacturing facility and a dispensary. We have doctors working on the medicinal formulation of CBD and partners in the nutraceutical industry. On this show, I also share how you can learn more about the industry and partner and invest with us.

You can find Loral here:

Ask Loral

Show Notes

  • [02:37] A year ago, I started a webinar on Cannabis. Then we had a Las Vegas Cannabis workshop with a tour of the cultivation and manufacturing facilities and the dispensary.
  • [03:13] Then we bought 23 acres in Cathedral City for use in the industry.
  • [03:36] We also have two investor groups. One will be doing private cultivation inside our condos. The other will focus on brain and Alzheimer strains created specifically for clinical trials.
  • [04:10] The 23 acre facility will be shared and everyone can do their own private label and brand.
  • [04:38] There will also be a dispensary at I-10 and Date Palm Drive. The gateway to the whole valley.
  • [04:45] Each member of the condo will do their own cultivation and we will continue to sell out the space and all share the manufacturing, dispensary, and security.
  • [05:15] The condo will be used for cultivation and combined resources will be shared to help each other. This includes security, distribution, water resources, and more.
  • [05:20] The idea is called creative condos.If you want to know more about the project you can email StartAssetEducation@Gmail.com.
  • [05:32] In Nevada, we have four licenses.
  • [06:00] I have moved in my sales team, and they will be doing joint health and wellness sales. There will be CBD products and other joint ventures including nutraceuticals. This manufacturing plant is for non-THC related products.
  • [06:54] Our crown jewel is a Columbia license with some growers.
  • [07:08] There will be a Big Table in the Palm Springs and Cathedral City area November 5th and 6th and then the next day will be the Cannabis event. If you are not in the Big Table Mastermind, you can sign up for the day and just do the Cannabis tours.
  • [07:50] I have been on a 3 year mission to figure out how Canadians can better invest in RRSPs or Registered Retirement Savings Plans.
  • [08:04] We are selling a lot of our assets to go public on the Vancouver exchange, and we will be teaching you how to do the same.
  • [08:53] On October 17th, Cannabis should be legal in Canada. We hope to have an event on that day. The amount of money moving through is incredible.
  • [09:30] The green rush is huge. I decided to get in a year ago. My heart and soul is on the medicinal side.
  • [10:12] There is a huge opportunities for dosing guidelines. Many businesses are popping up everywhere.
  • [10:56] Opportunities are popping up everywhere for software,legal and other businesses. If you are not in the space, it may be time to jump in.
  • [11:01] I am very interested in working with the Alzheimer groups and finding medicine to help people.
  • [11:34] It's my goal to continue to lead and bring updated information to you.
  • [12:06] We have a group of doctors working with the folks at the plant who can help you find the right combination of what to take.
  • [12:20] Marijuana Millionaires is a brand new group that is going to be the combination of a best-selling book, a newsletter, and a magazine.
  • [13:19] We are creating a team of doctors, formulators, and experts around the Marijuana Millionaire group.
  • [14:30] If you want to be a shark, you need to know how these industries work.
  • [15:08] Next week, we will have a variety of folks from the Big Table here live.

Links and Resources:

Aug 2, 2018

We are all about making money, growing money, and keeping your money. One of the best ways you can keep your money is to be smart about your tax structure. The new tax laws have passed, and 2018 has a lot of changes for small business owners and investors. My partner and guest Mike Giorgi is here to talk about all of the new changes and how to get the most out of them.

We talk about the importance of a team to really help you set things up correctly. Depending on your circumstances, you may need to create a pass-through entity to take advantage of the 20% QBI deduction. Mike talks about setting up your corporate structure correctly, planning, and monthly check-ins. We also have a checklist for you and a lot of great advice for keeping the money that you have earned.

You can find Mike here:

Ask Loral
StartAssetEducation@Gmail.com

Show Notes

  • [02:28] 2018 tax code. The changes are amazing for the rich.
  • [02:48] There are a lot of changes that need to be made if you are investing or a service company or doing business in general.
  • [02:59] People who are not service individuals like attorneys or realtors can get the 20% qualified income deduction.
  • [04:30] We have found a work around to get this deduction by having a management company.
  • [05:09] You need to have these types of conversations with your corporate compliance people.
  • [06:13] Doctors and professionals can lower their taxes by having money flow through their practice or management company.
  • [08:59] A 21% flat tax is an amazing thing especially for professionals.
  • [09:13] Have a management company that performs non-professionally licensed tasks with an S election, so you can get pass through income and your QBI deduction.
  • [09:42] Associative entertainment deductions are gone. Travel meals are limited to 50%.
  • [10:43] If you think about it, the trade offs are worth it.
  • [11:15] Get your tax team involved and ask about the effective tax rates of your current entities and what changes you may need to make with the new laws.
  • [11:49] Create a plan and create a budget. You need to document everything.
  • [12:31] Have a resolution and plan backing up that resolution. Check and recheck your plan on a monthly basis and make sure you are doing everything in that documentation.
  • [12:59] Find a professional team, put a plan in place, and document everything.
  • [14:08] Be sure to issue your corporate stock if you have an LLC. Make sure there is another officer in the annual minutes.
  • [15:20] Document a special resolution for anything that is special. Track large changes.
  • [15:48] Have cash flow in your proceedings.
  • [16:32] Email StartAssetEducation@gmail.com
  • [17:21] Anyone making $175,000 to $200,000 needs to talk to Mike. There is a phase out that starts at these numbers. They need to be spread out across the structure.

Links and Resources:

Jul 27, 2018

We have all heard the old adage that real estate is the fastest way to create wealth. My guest, is a friend and community member who was involved in the real estate industry when he saw a pain point and decided to do something about it. He had the vision and skill set to create a tool that makes it easier to market real estate across the industry from selling, renting, residential, and commercial.

VirtualTourCafe is a tool that helps real estate marketers create websites, virtual tours, and flyers easier, faster, and better. Tim talks about all of the benefits of his tool from being more cost effective to the real savings of selling or renting faster. He also talks about staging, photography, his book, and virtual staging. He even shares a story where a seller was going to give up, then tried the virtual staging tool and sold the property in a week.

You can find Tim here:

Ask Loral
VirtualTourCafe
Get Your Free Report

Show Notes

  • [01:08] VirtualTourCafe is to help people involved in real estate to better market their properties. Tools, presence, and exposure.
  • [02:02] This is a system that makes things easy for people who aren't tech savvy. Creates property websites, virtual tours, and flyers.
  • [02:49] People can log into their own account and create tools that will help them do things fast and easy.
  • [02:55] Tim also wrote How to Photograph and Market Houses to Sell Fast.
  • [03:16] He wrote this book in response to people's questions about how to get the best pictures for their listings.
  • [04:12] Tim was affected by the crash of 2008. This gave him an opportunity to rethink what he was going to do with his life, and he got into real estate.
  • [04:43] He noticed other agents needed help photographing and marketing their properties.
  • [04:50] He had a lightbulb moment and decided to automate the process.
  • [05:02] It took a team of developers and programmers about six months to launch VirtualTourCafe back in 2008.
  • [05:26] Now they have users in every state and several different countries.
  • [05:34] What is virtual staging? How does it work?
  • [05:47] They just launched RealEZPhotoFix. Virtual staging is taking a digital photo and adding furniture to make it looked staged.
  • [07:35] It is okay for realtors and real estate agents to use virtually staged photos as long as they disclose the fact.
  • [07:57] In real estate, it's all about disclosure especially if you are licensed.
  • [08:36] Physically staging homes can cost thousands of dollars.
  • [08:57] A digitally staged photo is $32.
  • [09:38] Some buyers have a hard time visualizing what the room will look like. Having the perception of what it will look like can increase sales.
  • [10:18] The real value is being able to sell the property quicker.
  • [11:45] This techniques enables sellers to get the property on the market while it is still being prepared.
  • [12:23] They can do 3D rendering and finish a room that is under construction. They can also be clutter a messy room.
  • [13:17] When taking pictures, level the camera and keep it straight.
  • [13:54] Lighting is also very important. Turn on all the lights and take photos that aren't facing the window.
  • [15:15] Put the toilet seats down.
  • [15:32] With furniture less is more. Get rid of as much as you can.
  • [16:58] Take a shot of the front of the house with some blue sky.

Links and Resources:

Jul 12, 2018

Everybody wants to make those high-end big-ticket sales, but most people are too afraid to do it. My guest today, is Wendy Stevens. She has been on the show before talking about 7 Figure LinkedIn Marketing. She is part of my team and the Big Table. Today, we talk about something that we both do, and that is actually make those big-ticket sales.

Some of the things we discuss is taking a funnel and expanding it, so that 7-figures is a reachable and likely goal. We talk about the number one thing you can do to quelch your fears, not seem desperate, and avoid repelling customers. We talk about putting every variable in your favor and prospect positioning. Along with a way to double your closing rates. We also talk about the 5 questions you can ask a prospect in order to get a yes on these important sales calls and interviews.

You can find Wendy here:

Ask Loral
Wendy's Website
Wendy on LinkedIn
Wendy on Twitter
Wendy on Facebook
Wendy's YouTube Channel

Show Notes

  • [01:47] The funnel is the very first most important thing.
  • [02:13] You need to have more than one lead in your funnel.
  • [02:23] You need to have multiple qualified leads and prospects.
  • [02:35] You do not want to appear desperate when trying to sell a big ticket item.
  • [03:00] The art of high ticket cells begins with eloquence and eye contact. Your vibration comes through the nanosecond you first encounter the prospect.
  • [03:34] When you learn the skill of high ticket sales you can just date and then get married.
  • [04:20] Step one is to put every variable in your favor and properly position your prospect. Use a brilliant video before you even get together.
  • [05:02] People double their closing rates just by sending a video up front.
  • [05:48] You can also have somebody send you their top three reasons why they want to talk to you.
  • [06:04] Write down who, what, how, where, and when. Be genuinely curious.
  • [09:03] One of the best things Wendy ever did was go to Loral's Big Table.
  • [09:44] If Wendy lost everything today and had to start over, she could generate quality prospects by proper positioning, posture, and getting on the phone.
  • [10:12] Find out the emotional impact of whether your prospect is or isn't reaching their goal.
  • [10:39] Five questions to get to the pain point.
  • [10:50] If you could change one thing in the world right now what would it be?
  • [11:30] Be comfortable with silence and allow the prospect to answer.
  • [16:13] On a scale of 1 to 10 how important is it for you to create generational wealth?
  • [19:01] If you want something bad enough, you will figure out how to get it.
  • [21:22] The third question is: What is your pain level?
  • [21:48] How important is it for you to do what you are trying to do?
  • [22:43] If they are sure it matters to them, then asked them why it matters. If they aren't ready, say that you will get back to them.
  • [23:47] Ask yourself how many prospects you need to talk to in order to get to a yes.
  • [26:36] We are also going to do a limited workshop on how to achieve high-ticket sales.
  • [26:51] There is an absolute formula to this.
  • [27:02] Make sure you're being aware of the four personality types and paying attention to everything that your prospect is doing.
  • [27:10] Notice whether they are committed and if there's a personal impact. If there is no passion, then take it away.
  • [27:35] Begin the commitment process by charging them immediately.
  • [28:21] Ask powerful questions and then be quiet and just let it sit.

Links and Resources:

Jul 5, 2018

LinkedIn marketing is the new California gold rush. Since the acquisition by Microsoft, there have been subtle and not so subtle changes to LinkedIn. Today, we talk about how to strategically create a LinkedIn profile that will land the big clients that will send your bottom line soaring to 7 figures or whatever your goal may be. 

Wendy Stevens is a long-term client, a Big Table member, and a self-made millionaire. She now teaches high-end sales. Wendy is a LinkedIn expert who is helping us with strategically updating our profile. She talks about the changes that have happened since Microsoft has taken over, the constantly updating algorithm, how to get featured on ProFinder, and a 7 steps to 7 figures profile strategy.  

You can find Wendy here: 

Ask Loral 

Show Notes 

  • [01:20] Wendy was one of the first 200 certified Google adwords specialist.  
  • [01:48] In 2007, Wendy began mastering the art of LinkedIn marketing. 
  • [02:03] Microsoft paid $26 billion to acquire LinkedIn. 
  • [02:28] Wendy worked with some of the people from Microsoft who rewrote the algorithm for LinkedIn. 
  • [03:12] On LinkedIn, we are being evaluated for our influence score every single day.  
  • [03:52] It's important to be strategic about how you show up on LinkedIn. 
  • [04:20] How to mind your LinkedIn account. Show up to be valuable first. Position yourself properly.  
  • [05:23] Keys to a good profile: 7 sections in your LinkedIn profile. Headline - Keyword load your name. Put your keyword in your last name section. Use word cloud or keyword tools. Find your keyword and get in front of them. 
  • [07:13] Tagline - this is where you clearly say exactly what you do. Summary - Only the first two lines show up. 67% happen on mobile. Have your first video show up in your experience section. Have keywords in the first two lines of your summary. Speak in the first person to your ideal avatar. What you do and how you help them. 
  • [09:09] Create a video. Speak the pain of your ideal client. Say what they don't want. Put it in the form of a question. Include social proof or a client that you helped. End the summary with a soft call to action. 
  • [10:13] First experience section - name it claim it. Put your best foot forward. Upload a video testimonial from a client that you have actually helped.  
  • [10:46] Go help someone and get a real testimonial. Guerilla marketing for free to get social proof. 
  • [11:29] Have keyword in every experience section and in the title of every video. Upload a video for each thing you have experience in. 
  • [11:35] These videos need to be uploaded to YouTube. You want the back links from YouTube.  
  • [12:04] 7 sections, headline, tagline, summary, experience sections, add all 50 skills. Use all 50 skills. Then LinkedIn will promote you. They scan and re-rank on a multiple hourly basis.  
  • [13:04] Find primary and secondary keywords. Seven sections. Reorder for the top three that you are known for.  
  • [14:14] Have endorsements for your skill sets.  
  • [14:33] Don't get left behind, get endorsed for your top recommendations. Get recommendations. You can't be the top performer without recommendations. 
  • [15:16] ProFinder is when they choose to promote you throughout LinkedIn.  
  • [15:41] Written and video recommendations.  
  • [17:20] If you get your keywords woven in, you can actually have your own six figure funnel. It's all traffic and conversions.  

Links and Resources: 

Jun 21, 2018

The single most important focus for growing a business is sales and marketing. Building a database of customers and potential customers is critical. But to communicate effectively with your customers you need to understand where they come from and what they are interested in. You need to segment your list to communicate effectively with clients and potential clients.

Darin Adams is an expert at growing small businesses and sales and marketing using Infusionsoft. Today, we discuss how setting up and automating your marketing efforts from the beginning is one of the most important things that you can do for your business. We talk about list segmenting, lead nurturing, CRM software, API integrations, and smart ninja tricks to get started automating and tracking your sales and marketing efforts.

You can find Darin here:

Ask Loral
Darin's Website
Darin on Twitter
Darin's YouTube Channel

Show Notes

  • [01:22] Darin has a background in broadcasting and worked with small business owners. He helped them with their message in their marketing.
  • [01:54] When Darin discovered Infusionsoft, he knew it was a great combination. It combined his love of teaching people and helping people with marketing.
  • [02:10] His focus is growing, building and automating business.
  • [02:15] He travels around and teaches people how to grow their business.
  • [02:25] Marketing and sales. The single thing a business owner can do to jump start their business.
  • [02:46] The number one thing you need to be doing is building a segmented list.
  • [02:56] People often think the value of their business is the product or service, but it's really in the list.
  • [03:17] The importance of marketing and having a database of customers.
  • [03:46] Your list isn't very helpful, unless you know actual information about the people on it.
  • [04:12] Breaking things down into segments lets you know exactly who the people are and what they are interested in.
  • [04:26] The money comes in when you have tools in place to grow the list and collect data on the people on the list.
  • [05:07] How people think their website and even Facebook are critical to their businesses.
  • [05:41] A website is one arm of your business. It can be used to drive people to your database.
  • [06:59] You want to know how people come to your list, so you can communicate out to them.
  • [07:12] Your customer relationship management tool or CRM allows you to communicate out to them and make money.
  • [07:40] Information in a segmented list.
  • [08:44] The beauty of Infusionsoft is that it allows you to tag people, so you know how you first engaged.
  • [09:21] You can tag people, so that you understand how to communicate with them.
  • [11:47] Ways to capture leads include a landing page, a webinar, life events with text integration or a website integration, and free gifts or lead magnets.
  • [13:32] Once you have your leads you need to nurture those relationships. People don't buy on the first contact.
  • [13:45] Find out what their pain is and how to solve it. That will build relationships and trust.
  • [14:08] You also need to be able to track what they're doing like if their opening emails or clicking on links.
  • [14:44] Map out the process to take your customer from step A to B and automate the process.
  • [15:08] Tracking people will allow you to make the right offers at the right time.
  • [15:43] The number one way to grow a business is to use your existing business.
  • [16:21] Lifecycle marketing. Drive the leads, nurture the leads, track the leads, make offers depending on what they're doing, make sales, and follow up and turn customers into raving fans.
  • [17:15] Infusionsoft integrates with so many other companies.
  • [17:43] Integrating Facebook retargeting with Infusionsoft will allow you to target specific groups.
  • [18:03] You can also use text integration with tools like FixYourFunnel, Call loop, Salesmsg, PlusThis, or Twilio.
  • [18:28] You can use the system to integrate texting.
  • [18:38] PicSnippets allows you to personalize a photo. Sending what looks like a personalized photo to someone is amazing.
  • [19:23] SoTellUs let's you capture video referrals. Folklore Creative makes animated people.
  • [21:23] For a small business with Infusionsoft you can have a full integrated marketing sales and accounting software.
  • [21:58] You need a CRM and a system like this from day one. When you start collecting leads. You need something to do with those leads.
  • [22:25] This is more important than a website or formulating what your actual product is. This is the most important foundational tool for any business.
  • [23:06] You can API QuickBooks on to the end of this, and as always don't forget to get incorporated.

Links and Resources:

 

1 « Previous 1 2 3 4 5 6 7 Next » 8