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Real Money Talks

As an entrepreneur, small business or practice owner, or high-level executive, do you ever find yourself wondering if you’re using all the tax, entity and wealth strategies available to you or if your investments are truly producing all they could be? Happily, you don’t have to put up with that any longer. I have the solution. Real Money Talks! We're having the right conversation about money.
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Now displaying: Page 4
Jun 15, 2018

Business strategist and extraordinary marketer Adam Kipnes is here today to talk about how marketing is the answer to everything. Marketing is what starts everything in your business. People and businesses make money through marketing and marketing strategies. Marketing and tracking your revenue generating activities need to come first.

We also talk about putting strategy before tactics and finding your ideal customer and knowing what you want to say to them. Adam talks about the system he has built to put marketing first to make clients money, the five major components of a marketing plan, and his strategies that you need to start using in your business today.

You can find Adam here:

Ask Loral
Free Book From Adam - How to Make More Money in Your Business
New10K.com

Show Notes

  • [01:36] For the past 18 years, Adam has been working with small business entrepreneurs to help them grow their business.
  • [02:05] In this time, Adam has learned what small business owners are doing wrong when it comes to marketing.
  • [02:25] Adam's goal is to find new revenue through marketing techniques, and then utilize that money to build a better business.
  • [02:48] Why do people need marketing first? Small business owners need more money. The reason small businesses owners need more money first is because they don't usually have money set aside to grow the business.
  • [03:27] Being better at your business doesn't grow your business. Marketing grows your business.
  • [03:59] The five major components to marketing and marketing plan. Leads, conversions, transactions, higher prices, and more profits for your business. More leads is the first component.
  • [04:12] Sales and conversions is the second component. Once you get people to say yes, you want to have a plan to get them to say yes again. This is part of the marketing funnel.
  • [04:46] Once you have repeat customers, you can raise your price point. This will drive more money into your pocket.
  • [04:57] Once you have these things, you have strong sales, pricing power, and more profit.
  • [05:37] Conversions is getting people to say yes to you. The key to a good conversion is understanding the problem that the prospect has and the solution you deliver.
  • [08:39] An example are the drinks in front of the cash register at Home Depot.
  • [08:58] Think about things that you can offer your clients.
  • [09:43] It's important to put the revenue-generating side of your business first.
  • [10:36] Before you do anything, ask if what you are about to do will get you paid?
  • [11:05] Also ask if what you are about to do will serve your purpose?
  • [11:22] Does what you are about to do need to be done by you?
  • [11:53] Does what you are about to do need to be done at all? Cut out activities that don't add value.
  • [12:27] Get off the treadmill of just doing the work every day, and implement the things that you need to do to make money.
  • [12:51] Produce a revenue chart. Tie everything you do with revenue production.
  • [14:01] The purpose of the funnel is to get people engaged with you. Get them ready to buy your high ticket or more expensive services.
  • [14:17] You can offer something of value to get people to engage like a free report. Once they engage, you can then move to a book or a lower end service, then get them to engage with you personally, then move to something high end like a coaching program.
  • [15:30] The engagement process can be through Facebook, face-to-face, or even through a podcast. Try to get initial engagement that your audience cannot say no to.
  • [16:33] Funnels work because you get value, create value, and your customers know, like, and trust you.
  • [17:26] The first step is knowing who your customer is and what you want to say to them.
  • [17:50] The strategic side is first. Then the tactical side is finding out where these people are at.
  • [19:36] We have people who know us today that are low hanging fruit when it comes to capturing leads. Start with the people who already know, like, and trust you.
  • [20:14] These people can also be referrals or joint venture partners.
  • [21:19] You can download a free book from Adam at FreeBookFromAdam.com  How to Make More Money in Your Business: 8 Strategies You Better Start Using in Your Business Today!
  • [21:38] The first strategy is how to use messaging on a lead capture page. A lead capture gives visitors one thing and one thing only to do.
  • [22:08] The second chapter talks about joint ventures. Think about the other people who sell to your client.
  • [22:56] Statistics show that people buy from the fifth to eighth contact. Having a drip campaign is critical.
  • [23:19] The last chapter talks about how to make more money through the use of bundling versus discounting.

Links and Resources:

 

Jun 7, 2018

Getting off of Wall Street and alternative investments are one of my favorite topics. Today, Scott Arden the COO and co-founder of Controller’s Ltd. a company that offers a wide range of financial services including bookkeeping, payroll, CFO/controller services, cash-flow management, and tax planning is here.  

We talk about asset allocation, diversification, and making the most of alternative investments. Some of the things we discuss are choosing the right corporate structure or multiple structures to reduce taxes and liability issues. We also talk about the steps to begin building the best type of structure for your businesses.

You can find Scott here:

Scott on Linkedin
Ask Loral

Show Notes

  • [01:20] Scott and his co-founder discovered a breakdown between the asset protection side of business and the tax planning side and decided to bridge that gap. 
  • [02:03] They want everyone on the financial team to be on the same page and have the same plan in mind moving forward. 
  • [02:26] The breakdown comes from a lack of integration and the lawyers not talking to the accountants unless the client knows how to facilitate those conversations. 
  • [02:43] Most people abdicate their total financial control to a CPA, a lawyer, and maybe a financial planner.  
  • [03:06] The first step in diversification of assets. Make sure that your current house is in order.  
  • [03:47] True asset protection can only be achieved by using multiple entity structures.  
  • [04:29] Once everything is in order, then it is time to take on that new business deal.  
  • [05:02] Building full asset protection.  
  • [05:25] The entity you should choose depends on the type of business that you are going into. A lot of businesses starting out use LLCs or S Corps.  
  • [06:04] As you get more comfortable with different investments, it is time to bring on different companies.  
  • [06:12] Creating an LLC structure can allow for passive investments, deductions, and liability protection. 
  • [06:37] As things become more profitable, you will want to look at tax strategies and building a nest egg for funding additional deals.  
  • [06:56] Depending on how diverse your assets are you could go into a multi-tiered structure. 
  • [07:24] Dividing assets and liabilities into companies. Different businesses have different liability factors.  
  • [08:35] Defining the effective liabilities in each business.You don't want to combine all of your different businesses into one entity and all businesses responsible for an accident in one of the businesses. 
  • [08:52] You can put your equipment in a separate LLC and lease it back to the company to avoid liability issues. 
  • [09:00] Scott's company does a comprehensive analysis of what the client has and how many entity structures should be put in place. 
  • [09:42] Own nothing and control everything. Nevada offers an asset protection trust.  
  • [10:16] Everyone with assets should have a living trust. An asset protection trust means you own nothing, but control everything. These can protect everything that you earn and pass it to beneficiaries.  
  • [11:41] The wealthy live within corporate structures.  
  • [11:56] Insurance can separate out some of the liability. Use of corporate structures can legally encumber assets using multiple entities creating friendly liens to protect the assets.  
  • [13:27] Investment risk comes down to identifying your expectations and comfort level.  
  • [14:34] Being the first lien position on a note. Flipping Wall Street is a robotic trader. Equity investing has always been on the playing field.  
  • [15:44] Equity investing is more secure. Starting out in debt is more stressful and reduces the amount of risk that you can take.  
  • [17:26] Step one: get your current house in order. Step two: identify expectations. Step three: Research.  
  • [18:07] Speak with someone who has experience. Learn from people who know.  
  • [18:48] You can't learn the variables of a deal in a textbook. A deal is when all parties feel that it works. 
  • [19:26] Lowering taxes through multiple entities. Corporations and LLCs offer far more tax deduction options than individuals.  
  • [21:06] Corporate write-offs can offer you more use of your money up front. 

Links and Resources: 

May 31, 2018

I have a very special guest today. Maria Watson is a nutraceutical veteran who has built and consulted with companies that have earned millions of dollars. Every episode is about investing, growing, and keeping your money. This episode is no different. I have just partnered with Maria on a manufacturing facility that is known for quality. At this facility, we will be producing different supplement lines. 

We focus on wealth but are also strong believers in health and the power of quality supplements. In this episode, Maria shares her contagious enthusiasm for health, supplements, and quality control. We talk about our new partnership, and the exciting potential for creating and growing wealth. I am super excited to introduce Maria and dive more into this topic.  

You can find Maria here: 

Perfect Vitamin Products
Ask Loral 

Show Notes 

  • [01:38] Maria Watson is 62 years old. In 1987, she lost her three year old son to a drunk driver. She then spent three years being overly medicated for depression.  
  • [02:16] She was certain that she would never get out of that dark state. 
  • [02:25] She was introduced to an amino acid supplement that literally gave Maria her brain back. 
  • [02:43] Maria wanted people to feel good too and shared the information about the supplement, but she never correlated it with money. 
  • [03:10] She eventually realized that this product could be monetized. Although, she got into the manufacturing process mostly to control the quality. 
  • [03:41] Loral and her partner Ben are about to start breaking ground on a 23-acre cannabis facility.  
  • [04:27] They have also been trying to find ways for Canadians to save money on taxes. 
  • [04:44] They are buying three dispensaries and contracting growers.  
  • [05:21] When you are in the space of making money and making deals, things come to you.  
  • [05:26] Ben found Maria and now they have made a manufacturing deal. The intention is to be a partner and eventually buy Maria out.  
  • [06:11] The goal for the plant is to keep people healthy while making a lot of money.  
  • [06:12] Maria is more focused on the health side of the business.  
  • [06:40] Maria started out with amino acids and then learned about hormone replacement, iodine, nitric oxide, and then cannabis.  
  • [06:57] With the partnership, Maria's 28 years of nutraceutical knowledge can be combined with the cannabis industry to make quality products and change lives.  
  • [07:49] Hemp and CBD can immediately reduce anxiety without getting you high. Cash comes with solving massive problems. 
  • [08:07] What matters to Maria is doing it right.  
  • [08:48] Maria got into the supplement business because of a need. She married her husband who owned Vitamin Research Products. They built that company up, but her husband had concerns about the regulatory environment. 
  • [09:43] They built an amazing manufacturing facility from the ground up. Her husband sold the business, and they retired. 
  • [10:28] Maria didn't want to be retired, and around the same time the buyers of the business wanted to renegotiate the deal, and Maria got the manufacturing facility back.  
  • [11:16] Maria decided to start over again from scratch. 
  • [11:54] She rehired her employees and started purchasing equipment.  
  • [12:50] Partnering with Loral has enabled Maria to find new customers. Including the private line for Alzheimer's specialist Dr. Trinh, another customer who has a private line on Amazon, and a private line for Loral.  
  • [13:08] Loral has believed in supplements all of her life.  
  • [14:28] How everybody thinks they are supposed to take calcium, but not all calcium works the same. Plus, you need to take vitamin D3 and K2 with the calcium.  
  • [15:22] Nutrients are not all created equal, so it is important to educate people and your followers about what to take.  
  • [15:37] Maria's products at her old company were known for quality and having the right nutrients at the right level to be effective.  
  • [15:57] All of the lines made at the facility will be made right with the proper products, combinations, and amounts. 
  • [16:37] The combined group has certifications that no other group in the US have. These are verified certifications that involve physical audits. 
  • [17:50] Maria welcomes the audits, because she wants to prove that she is doing it right in this world. They will have the certifications to ensure purity and dosage requirements.  
  • [19:21] The certifications make the facility more marketable and help prove the quality of the products. 
  • [20:20] Finding clients and learning how to cut yourself into the deal. 
  • [20:58] The original amino acid supplement that Maria took was from an MLM company. She never really understood the payment plan. When the quality of the product changed, she was forced into manufacturing.  
  • [21:40] MLMs sometimes destroy the integrity of the product, because so many people need to get paid.  
  • [22:29] You don't have to do everything yourself. Look for people you know that can help with a deal. 
  • [22:46] Maria's plant has research and development and food scientists that are part of her team.  
  • [23:16] Maria's group can create products that get results. The team that Loral is putting together will be able to make money. 
  • [23:57] Loral wasn't dissing MLMs. She loves MLMs done right. It is an exciting time with the green rush and all of the infused product lines hitting the market. 
  • [24:49] There is so much to be uncovered. The potential is there. Especially in the anti-aging group. Hemp components may even be able to be utilized for weight loss. 
  • [25:27] Loral, Ben and Maria will do a future panel and podcast.  
  • [25:28] The goal is to help people to engage in the conversation of making more money, keeping more money, and better tax strategies.  

Links and Resources: 

May 24, 2018

As some of you may know, I'm a five-time New York Times best-selling author. I love books. Books are like our brains on paper. I'm even thinking about coming out with another book to write about all of the blockchain, cryptocurrency, and cannabis millionaires that are being made. It's possible to create huge amounts of revenue with the right book and the right plan and product behind it. 

 

Today, Melanie and Jenn from Elite Publishing are here to talk about why you should write a book for your business. Having a book can be a wonderful tool for making money and opening the door to bigger and better opportunities. Melanie and Jenn break down how to get started, book publishing best practices, and why you should throw perfectionism out the window and get to work.  

You can find Melanie & Jenn here: 

Elite Online Publishing
Elite Online Publishing on Facebook Free Book
Ask Loral 

Show Notes 

  • [02:06] Melanie owned TV stations and Jenn ran a web company. They were both always growing and learning.  
  • [02:28] At a conference, Jenn had a great idea. Melanie was donating a vacation to the Dominican Republic to charity. They both already had best sellers on Amazon, but Jenn wanted to do a book writing retreat in the Dominican Republic.  
  • [02:58] Our little book writing retreat joint venture started our company, Elite Online Publishing, and now we have over 1500 of our own books on Amazon and over 60 authors published on Amazon.  
  • [03:22] Why do people need a book for their business. It is an asset that will generate you income. It raises your authority and expertise. It will get you media and speaker gigs and open doors.  
  • [04:03] How writing Enthusiastic You took Joshua Evans career to the next level and now he gets $12,000 speaking gigs, he spoke on The Queen Mary, he got the franchise for TEDx in Texas. This was all because he was an author of a book. 
  • [04:18] John Cody wrote about mobile marketing and then spoke at a medical tourism conferences. He recorded the interviews and launched a podcast and ended up being a consultant for the Country of Belize. 
  • [05:10] Marilynn Barber's Dress Like You Mean Business led to a news anchor segment. 
  • [05:37] The value of a book can't be quantified. The book is an asset you have around for the rest of your life. 
  • [06:05] Books can make a little money, but it is the business around the money that matters.   
  • [06:16] Books allow credibility to raise funds for projects. You don't know where the trajectory of a book will land.  
  • [06:58] Myths around writing a book. Loral likes interviews and recordings to send to editing.  
  • [07:28] I lot of people don't think they have time to write a book, but they can talk a book. Otter.ai is great for transcription. You can talk a book really quickly.  
  • [08:41] What technology today we have all the time in the world. We can also repurpose our content. 
  • [08:54] We love to repurpose and curate blog post content. This even turned into The Minimalist Movie.  
  • [09:40] What's the fastest best way to write a book.  
  • [10:30] The 10 x 10 x 3 method. People are asking you about your expertise all the time.Take five minutes and write down all the questions you get asked and then take another five minutes and write out all the questions that should be asked. Then layer these questions with a story. Then give the aha moment that ties is all together.  
  • [12:03] You could even start putting your book out on a Facebook live.  
  • [12:45] Using Createspace. There are other companies like this you can use. You want your book in every readers hand, so you need an ebook and a paperback book.  
  • [14:54] Having your book on Audible is also a great revenue stream. Having a hardback is also a great lasting expert platform to have.  
  • [15:32] You want to have 135 pages so that the title of the book will be on the binding. In 2017 the fastest growing trend is audio books.  
  • [16:23] Send your book to a CEO's office because the physical book will get past the gatekeeper.  
  • [16:55] Each chapter should send the reader somewhere, have all of your social contacts, have someplace to send your reader in the first couple of pages. Be sure to have an Amazon author page with a call to action in the first couple of pages of the book.  
  • [18:22] Get the book out of your head as fast as you can. 
  • [18:55] If you don't get the first book out another one isn't coming.  
  • [19:49] You're not going to grow if you don't start. Nothing is going to come to you if you continue to hold everything.  
  • [20:32] Yes is the answer. Figure out a way to get around the obstacles.  
  • [21:27] Excuses. There are no excuses from not knowing what to say to not having the money. Figure out a way to make it work. It is a long-term investment. You just need to make up your mind to have a book as an asset.  
  • [22:55] It's super important to have a great cover. 
  • [23:31] Have a great title and subtitle. Use software to search the keywords and categories. Have a call to action in every story. 
  • [23:52] Throw your ego and perfectionism out the door and then just get the first one done. Get it started and do it. 

Links and Resources: 

 

May 17, 2018

My company and podcast is about making money, keeping money, and investing money wisely. Communication is the key to increasing the potential of money and exploring the best options to keep, make, and grow money. I am a huge fan of neuro linguistic programming or NLP when it comes to having conversations about money that influence people in the right way. 

Matt Brauning is a speaker, best selling author, and master NLP trainer. He became a self-made millionaire by the time he was 25. He runs seminars all over the world and has worked with Tony Robbins, was in the movie “The Journey” with Brian Tracy and Bob Proctor, and has worked with countless Fortune 100 companies. Today, Matt shares some of the amazing potential that NLP offers to improve our business and our lives. 

You can find Matt here: 

Ask Loral
Matt Brauning
Evolution
Matt Brauning on Facebook
The Purpose Driven Entrepreneur Podcast
Matt Brauning on LinkedIn
@MattBrauning on Twitter
Total Freedom From Addictions 

Show Notes 

  • [02:48] What Matt and Loral do are so collaborative and integrative. NLP and communication is critical for success. 
  • [03:15] Matt started out in financial services and real estate. 
  • [03:22] When Matt was 18, he worked with brothers who were in the mortgage business. He learned everything about credit and mortgages and took his first vacation to Cancun at 18 and bought his first house at 19.  
  • [04:02] By the time he was 25, he had a five million-dollar portfolio and was a self-made millionaire. 
  • [04:28] After going to a Tony Robbins seminar, Matt fell in love with the concept of changing lives and changing patterns, and he knew that there was something more for him to do. 
  • [05:03] Matt wanted to change people's lives and became a life coach. 
  • [05:29] New seasons and coming into the season change. Whether you're going into real estate or getting out of real estate there are seasons and times for change. 
  • [05:43] What is NLP and why is it important? The lost user manual for the brain.  
  • [06:43] The way we imagine our memories both past and future visions are what NLP centers on quite a bit. A shift in the way we internalize processes and the way that we internalize memories.  
  • [07:08] Reliving memories over and over again make them more vivid. Pretty soon we are reliving lives. 
  • [07:16] The ways that our brain works is so complex. Science hasn’t even scratched the surface. 
  • [08:31] NLP is about looking at what my subjective interaction with my environment is. 
  • [08:57] NLP is a study of why we do what we do and how to change deep unconscious habits that don't serve us. 
  • [09:33] Why having a high awareness is so critical for being successful. 
  • [09:57] People think of NLP and personal development in general as just goal setting or positive thinking.  
  • [10:20] Positive thinking isn't the message. The message is positive habits.  
  • [10:35] Our habits are everything. The behavior we do over and over again. What do we do with surplus money in the bank. We all have unconscious desires and habits.  
  • [11:47] Rewiring the mind to conquer severe phobias. Judging things by what the outcome is. 
  • [12:56] Phobias are habits. Look at the unconscious neural pattern that establishes the habit in the first place. 
  • [14:51] Unconscious or deep ingrained phobias. Surface level and deep level. 
  • [16:46] It's too late to intervene when you're already in the middle of the behavior. 
  • [17:25] Go back to the exact moment when you are doing the undesired behavior and then go back an hour before that behavior. Find the exact trigger second in time. Scramble that picture in your mind, and you can't play the pattern again.  
  • [19:22] Every habit whether good or bad has a trigger that starts it. 
  • [19:54] It's all attitudes and habits. But before that there's always a trigger. We need to get to the heart of the trigger. 
  • [20:13] These skills will enhance your life, your education, your relationships, and your ability to create wealth and money. 
  • [20:27] These communication and presentation skills have enabled me to raise large amounts of money. 
  • [21:24] How to get started with NLP.  
  • [21:36] Find an immersive seminar type environment. Find a live place to learn and try this information. 

Links and Resources: 

 

May 10, 2018

I have to admit, I actually underestimated the power of what is needed to do great SEO. SEO is critical and needed for every business. Today, we are going to discuss how high quality websites and podcasts contribute to SEO, the components of really great SEO, and more with my SEO Specialist and SEO prodigy Chloe Spencer.

Chloe Spencer is the Marketing Manager & SEO Specialist for Live Out Loud. Chloe started her first company when she was 14 with a Neopet website that ranked at the top of Google and made her thousands of dollars a month. She now runs an SEO and marketing agency. She has been featured on ABC, MSNBC, Huffington Post and more.

You can find Chloe here:

Chloe Spencer
Chloe’s MSNBC Interview
Ask Loral

Show Notes

  • [01:46] Chloe has 26 SEO clients. Today, we are going to talk about how Chloe got into SEO.
  • [02:16] Chloe's dad is Stephan Spencer one of the top SEO experts in the world. He was a great mentor, but he didn't build her company for her.
  • [02:26] Her first site was a virtual pet site that she monetized with AdSense. It ranked at the top of Google and she received tens of thousands of daily page views.
  • [03:08] When she was 16, she started speaking professionally, and she started doing SEO for clients at 19. She is also a brilliant SEO coach.
  • [03:59] How high quality websites and podcasts contribute to SEO. Components that contribute to really great SEO.
  • [04:14] Search Engine Optimization has two pillars on page SEO and off page SEO.
  • [04:27] On page includes content, keywords, technical SEO, page speed, etc. Off page is about link building and building authority using targeted keywords. Content quality has to be compelling, but off page SEO is almost more important, because Google is concerned with trustworthiness determined by who is linking to you.
  • [05:24] You need high-quality sites linking to you in order to have the ability to rank.
  • [05:38] Majestic is the top tool to check link authority. Look at the trust flow metric. Aim for a 20 or 30 at the least.
  • [06:55] You build trust flow by building up your links. Be careful that you don't hurt your SEO with link building.
  • [07:31] Spammy links are going to be really detrimental to your SEO and your rankings because they really lower your link authority.
  • [07:37] Spammy links can actually get you a manual penalty from Google.
  • [08:03] Black hat links might work for a little bit but sooner or later Google finds out and it will come back to bite you.
  • [08:10] Do your link building correctly by being clever and creative. Create really amazing and compelling content.
  • [08:22] Don't just post your blog content on your little corner of the Internet. Push it out to the world and get some eyeballs on it. Work with influencers, advertising, and SEO those articles, so you get some traffic and eyeballs on it.
  • [09:21] Black hat link building is going against Google's guidelines and doing things like mass article generation and low-quality links back to your site. Things like link directories and link farms or mass comments or low quality blog posts.
  • [10:10] The worst is comment spamming blogs. Often, these are no-follow and don’t pass any link juice.
  • [11:07] Shady link schemes will get you penalized. The difference between black hat and white hat is really just following Google's guidelines.
  • [11:18] White hat focuses on creating awesome user content.
  • [13:07] Ask your potential SEO firm if link quality or link quantity is the most important. High quality links are the most important. It's all about quality not quantity.
  • [13:53] The Yoast SEO plugin is good for optimizing title tags and meta descriptions, but don't worry about the whole red light green light aspect that it gives you. The title tag is your title attribute. It's at the top of your browser window. It is the most important spot for your keyword and shows up in the search results.
  • [15:49] Focusing on keyword density could get you close to keyword stuffing. It's about where your keywords are. Title tags, heading, subheadings, once or twice in the body.
  • [16:20] SEO in social media. SEO is critical to rank in Google. Social media marketing is still necessary.
  • [18:41] Using social media to drive traffic to your website can help with SEO. Google does look at how much traffic you are getting.
  • [19:55] Google Search Console and Google Analytics. These are necessary for every website.
  • [20:33] Moz Keyword Explorer.
  • [21:22] One of the biggest mistakes people make is not using keyword research tools. Moz is fantastic.
  • [21:41] Rank Ranger is great for tracking rankings. It's important to track your mobile rankings as well as your desktop rankings. It's also important to make sure that your site is mobile friendly.
  • [22:13] Link Research Tools are awesome for looking at your own link profile.
  • [22:35] Use Link Research Tools to run a link detox report and then disavow any low-quality links.
  • [22:40] Pitchbox is really great for reaching out to bloggers and influencers.
  • [23:26] The number one thing that everyone needs to know about SEO is that it takes time and it is ongoing.

Links and Resources:

 

May 3, 2018

Alzheimer’s is a devastating disease that is growing in the United States. Sometimes referred to as the slow death, because people’s minds go while there bodies stay healthy. Dr. Dung Trinh is a world leading brain and Alzheimer's researcher who has dedicated his time studying the brain and trying to eradicate the disease.

We talk about research, prevention, new treatments, and where there is and isn’t a place for marijuana. Studies have shown that medical marijuana has exciting promise for treatment of disease and also exciting investment potential.

You can find Dr. Dung Trinh here:

Healthy Brain Club
Dr. Dung Trinh on LinkedIn
@iggyigette on Twitter
ToungueOut

Show Notes

  • [01:17] Dr. Trinh has been a physician since 1999. He is an internist and does a lot of geriatric medicine.
  • [01:36] After 17 years he was successful in reducing heart disease, cutting back on strokes, and helping with diabetes. His Alzheimer's patients were challenge, because he didn't have the tools to treat them at this point.
  • [02:39] Alzheimer's is devastating for the family members. People have to quit work or take time off because we just don't have the resources to care for everyone.
  • [02:50] The long Is when your brain is gone but your body continues.
  • [03:05] After watching helplessly as his Alzheimer's patients suffered, Dr. Trinh decided to focus exclusively on the brain.
  • [03:17] He is involved in Alzheimer's research. They run clinical trials and are looking for a cure.
  • [03:50] A healthy brain has about 100 billion brain cells. The brain cells talk to each other. Patterns of connections are formed. Each pattern can be viewed as a memory, thought, or feeling.
  • [04:39] Amyloid beta is the plaque or protein that builds up excessively in Alzheimer patients. When enough of this occurs the patterns of communication or memories are broke up.
  • [05:45] All Alzheimer's patients have the amyloid plaque in their brain, but not all people with amyloid plaque get Alzheimer's.
  • [05:55] Even if you have the plaque we can bend the curve to help avoid the diagnosis. That is exactly what I do.
  • [06:35] Dr. Trinh is an educator in the community with the Healthy Brain Club. He does education on Alzheimer's risk reduction.
  • [07:04] Prevention is first and foremost. They do clinical research for pharma products testing.
  • [08:04] They are now using immunotherapy. They prime the immune system to recognize the cancer as the bad guy.
  • [09:11] They are now bringing the technology of immunotherapy over to Alzheimer's treatment.
  • [09:50] Medical marijuana and Alzheimers. Published reports are showing cannabis treating ailments. Dr. Trinh's worldview was that pot was bad. Now he is slowly looking at how Marijuana can be used responsibility.
  • [12:42] The data does show that using marijuana for the wrong reasons can be detrimental.
  • [13:27] Medical marijuana can be used to help people in a responsible way.
  • [14:43] It's super early to look at dosing. Cannabis is illegal at the federal level.
  • [16:05] There is early research on PubMed. The studies are exploding. God doesn't create evil plants, just humans abuse them.
  • [17:38] The US government owns the patent to medical marijuana.
  • [18:43] Dr. Trinh runs the Healthy Brain Club. Their purpose is to bring about awareness of Alzheimer's and reduce risk.
  • [19:48] The cannabis club is the largest club in a large Southern California retirement community.
  • [22:06] Medical studies and research have shown that marijuana in a developing brain causes damage. Anything abused causes damage.
  • [24:02] This is an evolving conversation that needs to happen.

Links and Resources:

Apr 27, 2018

My friend Anze Mofor is here to discuss the importance of attending a live event to help anchor your financial future. Then I discuss the 10 habits of Millionaires. Becoming a millionaire doesn’t happen by accident. There are certain things that millionaires do to help cultivate an environment that increases their wealth. I talk about these things along with how important it is to have the right knowledge, team, and a strategy to move your wealth forward. 

You can find Anze here: 

Ask Loral 
Anze Mofor 

Show Notes

  • [03:48] How it is preferable to learn how to make money as opposed to giving someone your time for money. 
  • [05:02] There is so much to learn about money. Laurel has been studying millionaire habits for over two decades. 
  • [05:47] The cannabis and crypto world is going to make the dot com look like the dot bomb. 
  • [06:44] Loral's team is very cohesive, and they all work together on your behalf. You will walk out with a money plan if you attend one of her events. 
  • [07:13] The money makeovers that they do are one of the most jaw-dropping things that they do. You will learn things that you didn't even know. 
  • [07:37] How Loral's workshops are so exciting that nobody wants to take a break. 
  • [09:22] At Loral's real estate events, her and her team will actually take you out and show you the projects. 
  • [09:42] How most people don't have a money plan but they need a money plan. 
  • [10:22] 50% of Loral's students get money back on their taxes. They know how to create a strategic plan. Once you have the plan, you have to work the plan. 
  • [10:41] They also teach about debt. Debt can be your best friend. Good debt can be used to raise capital. 
  • [12:34] Habits are just ingrained in you. Today, we are going to be talking about the 10 Habits of Millionaires and you can follow along with our PDF download. Our team will also follow up with you and do a mini money makeover.  
  • [13:41] Do you have someone in your world that you can call and ask any money question? That is why our community exists. 
  • [13:52] Millionaires have a team of people that they work with year over year, and they constantly add new people to the team. 
  • [14:14] 1. Our peer group is comprised of other successful wealthy people. Millionaires hang out with millionaires.  
  • [14:39] 2. We have many mentors annually. You move through mentors on a regular basis.You are the some of the people that you hang out with. 
  • [15:49] You have to have a team that understands all the nuances of taxes, entities, and so much more. 
  • [16:13] Cannabis and cryptocurrency are taking the world by storm. You can be a part of things, or you can sit on the sidelines. 
  • [17:25] In the next 5 to 10 years, digital currency is going to be how we exchange money. It's going to change and revolutionize exchange rates, banking systems, and everything. 
  • [17:35] It's the biggest disruptor since The Creature on Jekyll Island. 
  • [18:30] A mentor will save you taxes and increase your returns. The money you spend on a mentor is well spent. A mentor will also save you from extremely costly errors. 
  • [19:45] If you spend $22 a day with us for three years, you can become a millionaire.  
  • in 
  • [20:46] It's priceless to have a mentor help you avoid errors and speed up your money making timeline. 
  • [21:27] We don't spend a day wondering what we should do, we call someone and get their advice. 
  • [21:57] We also join masterminds and speak at other masterminds. 
  • [22:21] We'll stockpile or money in savings, we invest in double-digit returns. We do diversify it. 
  • [23:27] We have ninja tax strategists to understand how to live the corporate life. They help us strategize on how to move our money and keep our money. 
  • [24:16] We create strategic multiple streams of income. When there's a lot of money surging in one place, we actually separate that. 
  • [25:39] Companies make money, and individuals get taxes. We invest together. We operate as business owners. This makes our taxation and protection of assets different. 
  • [26:07] You have to have a legal and tax team around you to separate your finances in this way. Loral has spent 20 years finding the best team. 
  • [27:05] Lean and learn this conversation about money. 
  • [27:10] We get up and do what it takes to get the results without making any excuses. 
  • [27:41] We manage or transfer the risk. It's only risky if you don't have any knowledge. 
  • [30:44] We can help you by doing a quick little mini analysis makeover. 
  • [31:12] The biggest thing we'll handle for you is debt. We don't care if you have debt, we are going to teach you how to manage it and how to make money. 

Links and Resources:

Apr 12, 2018

Peter Anthony Wynn the CEO and Founder of You Will Change the World a place that connects authors and speakers to a larger infrastructure sits down with me today to talk about having a money mindset. How doing the same thing as everyone else is not the way to free yourself and make truly life changing money.  

You need to think outside of the box, and be open to alternative investments and methods that make your money work for you. It’s not hard once you understand the system and have the right team in place. Find the right people and education to change your finances and your money mindset.  

You can find Peter here: 

Off Wall Street Assets Workshop
Ask Loral
You Will Change the World 

Show Notes 

  • [00:56] Peter Anthony Wynn is the CEO and founder of You Will Change the World. Where he connects authors and speakers and helps them connect to create a larger infrastructure.  
  • [01:21] As much as you want to give, you still have to give back to yourself.  
  • [02:49] How people really need to learn about money. They need an alignment of the team, so that together there is a plan.  
  • [03:52] People are confused when they come at money with a mindset of protect all I have when they should be compounding it and letting it grow. 
  • [04:02] How you becoming a millionaire isn't your accountant's priority. 
  • [04:42] How Loral is introducing people to the ecosystem of success. 
  • [06:09] What is heartbreaking is when people say they want help but they don't move. 
  • [06:29] It's about understanding that you have amazing potential and that you can do anything. 
  • [06:55] How Wall Street is the most unsafe investment if you look at it behind the scenes. 
  • [08:22] You are not going to become amazingly successful by staying broke. 
  • [08:46] Most people want to help somebody, but most people can't even help themselves. 
  • [10:54] Go out and figure it out. Understand how to manipulate your debt so that it is serving you. 
  • [11:37] Change your social circle to answer the biggest questions or you'll never grow. 
  • [13:05] How Loral is pulling back the curtain and sharing with the public the opportunities that are available to us today. 
  • [14:05] There are 81,000 pages of tax deductions. There are only a few things you can't deduct if you are truly living a corporate life. 
  • [14:56] When people have term insurance they have death insurance not life insurance. They are just wasting their money. 
  • [15:23] Everyone has a gift or a talent that they are not bringing to the world because they are scared or afraid that they might fail. 
  • [16:33] If you're going to change her life, you need a strategy. You are going to have to invest in more education. 
  • [18:20] Providing a product or service with amazing value to make money. People fail because they don't understand money or how to manage their resources.  
  • [20:00] You don't have to be great to start, but you have to start to be great. 
  • [21:43] The number one reason people don't succeed in business is because they don't know what business they are in. 
  • [22:16] You need to know how to market and get your great stuff out to the world. 
  • [24:04] How people need to get past the fear and go out and share their product. Leaders need to be decisive. If it perfectly fine to make mistakes.  
  • [25:50] If you can share a feeling and make it an experience, you will own that market. 
  • [28:55] Pre-sell your stuff, so you have the believe that it's worth it. 
  • [29:27] If people don't give you money, then don't move or design the webinar. 
  • [30:22] Loral shares a story about how she found a partner in the cannabis industry. They did a webinar and asked if there was interest in a workshop. Then they designed the workshop according to what the attendees wanted.  
  • [34:14] Becoming a millionaire isn't hard. There is just a system you have to follow. 
  • [35:32] After Loral's workshop, you will be so motivated that you will go out and find the money to make the investments in your portfolio. 

Links and Resources: 

 

Apr 5, 2018

Michelle Nedelec the founder and owner of Success Therapy and the author of Business Ownership Mindset is here to talk about fostering and developing a true entrepreneurial mindset.

Too many entrepreneurs start a business, but still have that employee mindset. We talk about the differences in mindsets for employees, entrepreneurs, and business owners. Running a business is not the same as buying a job. Michelle gives advice for removing yourself from your business and thinking like an owner instead of an employee. 

You can find Michelle here:

Ask Loral
Success Therapy

Show Notes

  • [01:28] Michelle's book is called the Business Ownership Mindset, because a business owner’s mindset needs to be completely different than an employee mindset. 
  • [02:20] How many entrepreneurs still do not have the business ownership mindset. 
  • [02:55] The first mistake a lot of people make is checking their email first thing hoping that a client has put in an order. They are looking for direction from someone else. Which is completely the wrong way to look at business. 
  • [04:04] How business owners need to be the ones running the show. They have to figure out what they want and then tell the team how to get it done. 
  • [04:10] It's a completely different way of looking at things and business owners and leaders have to be able to do that. 
  • [04:21] Michelle focuses on the concepts that need to be owned as an entrepreneur first and then a business owner. You have to have an entrepreneurial mindset first.  
  • [05:00] When you really understand how to take the focus of control internally and start directing what is going on in your business. 
  • [06:01] The success therapy process which helps people get to the root cause of why they do what they do. 
  • [06:15] The three ways we change our beliefs include reason, repetition, and emotional charge. 
  • [06:38] It doesn't take 21 days to form a new habit. The more emotionally involved you are the faster you will change. 
  • [06:57] Seeing how people who already have the millionaire mindset operate can help you develop that same mindset. 
  • [07:06] These people aren't afraid of what other people think of them. They're not afraid of making the tough choices and they have internal control. 
  • [07:34] If someone else is making you angry, then you are giving them control. Once you take control of things then you can do something about it. 
  • [09:04] When you have resistance towards something you are rejecting the part of you that could be good at that. 
  • [10:55] The line of knowing when to hire versus when you should be doing it yourself. If you have a lot of resistance towards something, you should probably learn how to do it. You can hire someone but understand what they're doing and how they do it. 
  • [12:01] If your company is running effectively without you in it, you have probably learned the business mindset. 
  • [13:02] Plan what you want your day to look like first thing in the morning. 
  • [14:00] Look at areas of your business that cause anxiety and decide what action you can take right now to improve that. 
  • [14:38] You can find business ownership mindset on Amazon. Michelle wrote the book by having an interview with a friend and transcribing it. She wanted to get it out of her head, because it was occupying mental space. 
  • [16:33] By getting your book out of you more content will come to you. 
  • [16:37] Michelle also wants to write a book about strategic building or how to think strategically. Too many entrepreneurs think tactically and don't have a overall big picture strategy. 
  • [17:16] She also wants to write about systematizing a business. 
  • [18:10] How important it is to design an organizational chart of your business without you in it. 

Links and Resources:

Mar 29, 2018

It's tax time, and I have my partner and tax expert Weldon Wulstein here to share with you everything you need to know to get the most out of your money and tax savings. A lot of people are underserved, because they don't ask their accountants the right questions. Weldon is here to share some of the questions that you should ask your accountant.

A lot of people assume that the accountant will just take care of everything. That is not always the case, so you need to know these questions. Even worse, if you're doing your own taxes, you really need to know about these concepts. We also talk about incorporating and tax entities.

You can find Weldon here:

Ask Loral
Wulstein Financial Services
Weldon Wulstein on Twitter

Show Notes

  • [01:37] Weldon has been in the tax world since 1989. He cut his teeth in the oil and gas industry.
  • [01:59] He moved up to Tahoe as a lifestyle choice. Using technology he converted his practice to an international practice.
  • [02:22] Weldon loves the puzzle aspect of tax strategy.
  • [03:04] The US tax code is upward of 80,000 pages.
  • [03:13] Weldon is also it's experienced in cross-border taxation.
  • [03:26] This is not just the US-based podcast. In principle, even though, the company names are different they operate very similarly.
  • [03:56] How all of the tax deductions are not in TurboTax. You need to set up an entity and a strategy that fits your situation.
  • [04:11] Why do accountants tell people not to get incorporated?
  • [05:07] The problem to having a certain number before you incorporate is that some people are never fully focused on their business.
  • [05:24] Treat your business like a company, and your mind will start treating your expenses like business expenses.
  • [05:37] There are processes to write off business expenses as legitimate expenses.
  • [05:59] When you incorporate, you do have to have an annual meeting and do some administrative work.
  • [06:03] This work is minimal for the benefits that you will get out of it. There are so many strategies that you are missing if you are not using a corporate or entity structure.
  • [06:32] When you have income in your company it is time to set up the entity. If you wait, you will have to redo all of your contracts.
  • [07:57] When you start your company that is technically the first day you are in business. So if you've been a sole proprietor for 10 years and then you incorporate it's like starting over when you apply for credit.
  • [08:27] Put your money in the right account because companies make money and individuals get taxed.
  • [09:11] Keep in mind, there is a big difference between tax compliance and tax strategy. Tax strategy happens now for the year.
  • [10:10] Guidelines for filing an extension.
  • [11:46] You can wait until your extension date to fund your retirement plan.
  • [12:41] Writing off the home office is not a red flag for the IRS. If your expenses are ordinary and necessary and directly related to the production of that income then you can take that deduction.
  • [13:28] As long as you're documenting what you are doing getting audited isn't that big of a deal.
  • [13:40] Have a business person's thought process not an employee thought process.
  • [13:57] You now can't write off entertainment expenses.
  • [14:36] A mistake people make is not doing their bookkeeping for last year until now. It's a lot harder to remember stuff from last year.
  • [15:17] Don't cheat yourself out of deductions by not keeping good records.
  • [15:40] Things that are going to affect people this new tax year.
  • [15:55] If you have a W-2, you cannot deduct your employee expenses.
  • [16:35] The limitation of income and property taxes. Property tax deductions are now limited to 10 grand.
  • [17:00] New mortgage write offs are now limited to $750,000.
  • [17:18] You can still write off rental property mortgage interest.
  • [17:37] Flow-through of business income. You will get a 20% deduction off of this taxable income. Convert your business into an S corporation so you can run your income through your company and get that big 20% deduction.
  • [18:25] Sole proprietors get the deduction, as well but they have to pay the Medicare and Social Security tax.
  • [19:42] This tax law was designed for high income real estate moguls.
  • [21:35] The first thing you need to do is set up your entity.
  • [21:43] Get your ID numbers, get a bank account, and get a credit card account that is used only for your business.
  • [22:05] Then get bookkeeping in place.
  • [22:12] Your monthly profit and loss information is key to help plan your future strategy.
  • [23:05] Get your stuff done now. Don't wait until the last minute.
  • [23:25] What do you do if you haven't filed your taxes in years? File your current year's taxes. You can order what has been reported to the IRS and reconstruct the tax documents.

Links and Resources:

Ask Loral

Mar 15, 2018

Linda Cain is an event specialist. She has been involved with presenting live events for the past 20 years. Event dynamics have shifted over the past few years. There are more coaches and transformational leaders looking for event audiences, and the Internet has been a game changer.

Today, we talk about current trends when it comes to filling a room for an event and how to keep your event in the black. We talk about online methods including video series, webinars, and Facebook Live. We also talk about keeping costs down, creating a one sheet, collaborating with like minded speakers, and sharpening your speaking game.

You can find Linda here:

BluDiamond Event Management
Linda on LinkedIn

Show Notes

  • [01:10] Linda has been doing live events and corporate events for over 20 years. She started with corporate, legal, and international.  She has spent the last 12 years working in the live event industry. 
  • [01:56] Linda and I both know how to lock in an event so you are in the black. 
  • [02:15] Marketing and strategies for packing a room. 
  • [02:28] Twenty years ago it was a lot easier to fill a room for corporate people, coaches, and transformational leaders. 
  • [02:41] You just send out a flyer or make an announcement and people would show up. It was that easy. 
  • [03:09] An event host or producer could count on the speaker to bring 50 or 60 people. 
  • [03:27] Things have shifted. Coaches have large lists, but the people on the list don't go out to events. 
  • [03:39] A really cool new trend is that more people are coming together in Internet rooms. 
  • [04:11] People are able to do workshops and get their information out and sell to people in those smaller 50 or 60 group Internet rooms. 
  • [04:41] The new trend of getting people into rooms. 
  • [04:49] The engagement process. You have to hard market within three months of your event and keep your prospects engaged the entire time 
  • [05:53] With the engagement process, you can send your prospects information each week. You can send them a video one week then a blog post the next week. Whatever it takes to keep them engaged. 
  • [06:48] You can also do joint projects with speakers and guests you're going to have. Use things like podcast interviews and Facebook Live. 
  • [07:28] Facebook Live needs to be structured and organized. 
  • [07:46] The key to Facebook Live is the engagement process and having a regular schedule. Also have substance and personality. 
  • [08:24] Video series - it works well to have a series that keeps people engaged during the process. Do short 20 minute hits where people can get in and then get out. The same thing works for webinar series. Putting the same webinar series out 10 different times will start to drive traffic. 
  • [09:59] Speaking engagements. In the beginning of the speaker's career, they need a speaker sheet. It needs a great bio with a great picture and two or three topics they speak about plus testimonials. As you grow, you can even add ROI. 
  • [11:21] Have a really good signature topic and presentation. 
  • [12:11] Perfect your presentation skills and have a really good one sheet. 
  • [12:56] You have to do your homework and know your audience. 
  • [13:21] You can also approach other speakers that talk about similar topics and approach a company as one speaking body or program. 
  • [15:32] The pay to play model. This is great when you're first starting out. You can also pay a little upfront and then do a split of sales on the backend. 
  • [17:27] How to get sponsors. To get a sponsor, you need to give them time on stage or space in a vendor section. 
  • [20:34] When having your event in a hotel, put a nice banner up and have a theater style room. You do a catering contract with the hotel. This means you look for space that is not being used for other events. 
  • [23:13] Get out and speak.  
  • [24:50] Get creative and innovative and have people invest in themselves to come to an event. 

Links and Resources:

Mar 8, 2018

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

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

You can find Dave here:

DHare77@gmail.com

Show Notes

  • [01:24] Dave got his degree in Michigan. Then he worked for several years for public accounting firms. After he became a CPA, he went over to the Canadian side and work for companies like Caterpillar and Volkswagen.

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

Links and Resources:

Feb 22, 2018

Chris Williams is a world-class marketer and salesperson. We have known each other for years, and we both have a love of sales in common. Everybody wants more customers and that comes down to sales. Everyone looks to the marketing community for leads, but even if you get those leads they aren't going to convert unless you know how to sell.

Today, we discuss the most important part of sales, and how many people are afraid of the follow-up. We also talk about Facebook sales strategies, how to have that all important sales conversation, time-blocking, some of the most important things you can do to get more sales, and more.

You can find Chris here:

Wide Awake Business on Twitter
Wide Awake Business Website
Chris Williams on LinkedIn

Show Notes

  • [01:20]  Chris Williams began selling when she was nine years old and sold more Girl Scout cookies than anyone else for three years in a row.
  • [02:02] At her young age, she understood the advantage of leveraged time and got friends and relatives to sell the cookies for her.
  • [03:14] The most important part of sales is follow-up. 80% of business owners and sales reps never follow-up after the first interaction. Also, 80% of people don't make a decision until after the 5th interaction. If you don't follow-up it's never going to happen.
  • [04:46] People often fail to follow-up, because they don't want to bother people or they have a sales problem.
  • [05:16] There's nothing wrong with calling people when you have a reason to call them.
  • [05:59] Gracious follow-up strategies include visiting or dropping something off with a potential client every 3 weeks. Otherwise they will just forget about you.
  • [07:06] Once you identify a potential prospect find them on LinkedIn and Facebook and have a conversation with them. A handwritten note with a sticky note on an article that's appropriate for them is a great way to follow up.
  • [07:49] Don't stop following up. Follow-up until they tell you no. I love it when people say no not now, because I immediately make a date to follow up.
  • [08:42] Get used to no, because it just means not now.
  • [09:23] Most people get their business from no not now and taking advantage of the follow-up.
  • [09:48] If your why isn't clear enough, and you're not doing something for a specific reason then you can get your feelings hurt all day long.
  • [10:31] Get clear on your big why and what gets you out of bed every morning. Understand the consequences of not accomplishing what you set out to do.
  • [11:43] There are a certain amount of people that have to get through your funnel in order to have a conversion. If you have someone who's just a phone dialer they need to do a hundred calls a day. Understand how many people you need to get through the top of your funnel in order to make two or three productive cells.
  • [12:59] How many brand new people did you talk to last week?
  • [13:21] 98% of emails go unread, and most people at networking events just chat with their friends.
  • [13:40] The sales process. Always ask open-ended questions. Start with how or what not why. Always leave the conversation.
  • [14:07] Ask situational questions. Understand what the person's problem is by asking open ended questions that begin with how or what.
  • [15:49] Ask if I could... would you? Go out and ask five people.
  • [16:33] Talk about things from a sales perspective not a subject matter perspective.
  • [19:09] Most people don't make all of their money from online sales. People buy from people.
  • [20:15] New Facebook strategy. Post your blog on Facebook and then once a week give out a tool or PDF. Get them in your database. Then do a little Facebook Live to augment that.
  • [22:12] Get people out of the social channels and into your database.
  • [23:47] Integrity and making money when you say you're going to make money.
  • [24:28] Challenge: go over the last two weeks of your calendar and highlight everything that's personal time. Then highlight everything that's revenue-producing in green.  Figure out where you're spending your time. Don't waste time, make money.
  • [25:39] Have a power hour where you block out an hour every day where you are making sales calls.  Providing you have a list of people to call.
  • [26:35] Final words: Power Hour, If I could would you?, and highlight revenue-producing time in your calendar.

Links and Resources:

Wide Awake Business on Twitter
Wide Awake Business Website
Chris Williams on LinkedIn

 

Feb 14, 2018

Valentine's Day is this week. Love is in the air, and money is always in the air. World leading relationship coach Orion Talmay is here today to talk about dating tips that will make you irresistible, even as a sales person.

In this episode, we are going to tie the relationship pieces and the money pieces together. Upward of 90% of divorces happen because the money and relationship conversations don’t happen. Orion is a brilliant and beautiful woman and the perfect guest to tackle this topic.

You can find Orion here:

Get Orion’s Free eBook to Attract Your Soulmate
Orion’s Method
@OrionTalmay on Twitter

Show Notes

  • [01:33] Orion shares how she was in a bad relationship and completely broken. She also knew she could rise like a Phoenix and rebuild her life. She found motivation, traveled the world, and found the love of her life.
  • [02:45] She now has the best relationship of her life. It is her passion to help other women find the same thing.
  • [03:29] How manifesting your ideal relationship is like building a business. Tying the relationship pieces to money.
  • [04:11] With a business, you have to create a business plan. In the dating world, it is creating a vision for your dreams.
  • [04:24] Getting clarity on your vision of love the same way you would with your business. Focus on what you want, do your market research, and create your love avatar.
  • [05:24] Look at your dating world branding. What are you showing to the world?
  • [05:59] It takes about three seconds for people to judge you by your appearance and online presence.
  • [06:12] People gravitate towards your big powerful online presence and the energy that you bring.
  • [06:46] Look at your product development, if you are not larger than life.
  • [07:00] Marketing yourself to a potential mate is like marketing a business. However you show up anywhere is how you will show up everywhere.
  • [07:56] Having two different personas is hard and creates feelings of impostor syndrome. Be genuine and don't try to appear as someone who you are not.
  • [08:37] It's about showing the people who you are. People gravitate to people that are genuine.
  • [09:13] Meditate and visual, but you have to take action for anything to work. Like attracts like, and you get what you focus on.
  • [09:39] Orion is a big believer in the law of attraction, but you also have to take action. Get out of the house and hang out where your avatar or ideal mate is at.
  • [11:07] Actionable dating tips that can be applied to sales.
  • [11:13] Don't fear rejection. Don't stop dating. You have to kiss many frogs before finding that perfect date. Don't take it personally, it's not about you.
  • [11:54] It's almost like you are being tested. Don't give up.
  • [12:25] Keep following up with the prospect. Things change over time. People are dynamic.
  • [12:56] Build the relationship and make it about them.
  • [13:19] Be interested in your clients first. You are more interesting when you are interested. Listen to non-verbal cues and match people using their own language. Mirror their language.
  • [14:19] Cold calls are like blind dates. Sometimes they work, sometimes they don't. Do the work before and have a good presence online. Have a funnel, so these people will be hot leads.
  • [15:08] How a lot of women are too aggressive or too passive. There has to be an appropriate level of follow-up.
  • [15:56] How the days of men leading the money conversation are gone.
  • [16:19] Love language. The five languages of love. We all receive love in a different way, and something that is translated as love to one person, may not translate as love to another.
  • [16:47] Gifts can be a primary love language. Word of affirmation or being told they are loved. Physical touch being touched and caressed. Quality time doesn't have to a lot of time, but it is being present in the moment. Acts of service take out the garbage or something useful. Gifts, words of affirmation, physical touch, quality time, and acts of service.
  • [18:15] When having the conversation with your client listen to their love language.
  • [18:56] How to gauge someone's love language. With client's its a pre consultation questionnaire or asking these questions in a clever way.
  • [20:33] Forging that long-term commitment.
  • [20:54] Gratitude is the best attitude. Always say things you love and are grateful for.
  • [21:54] Activating the reticular activating system or the RAS for love.
  • [23:16] Love and business is like a garden, and you have to keep adding to it.

Links and Resources:

Feb 8, 2018

Martha Hanlon is someone who I have been friends with and known for years. She is also a smart marketer and teacher. Martha and her business Wide Awake Business has helped small business owners hone in on their marketing, sales, business development, and team development.

Today, we talk about understanding your customers by asking them questions and the three biggest challenges Martha’s customers have faced. We talk about the importance of freeing up time to focus on the important stuff and strategies for understanding and finding customers. We also talk about the importance of having a plan and using and understand metrics.

You can find Martha here:

Martha's Website
Wide Awake Business on Facebook

Show Notes

  • [01:25] Martha has a business called Wide Awake Business where she works with small business owners to help with marketing, sales, business development and team development.
  • [02:00] She has an MBA from Wharton and she has been working in her own small businesses since 2002.
  • [02:20] Martha does a client survey to actually know what is going on in the mind of her customers. She sends out a survey every year that asks what her customers anticipate will be their three big challenges for the coming year.
  • [03:14] The number three biggest challenge is not having enough time. The number two challenge is not having enough customers. The number one challenge is themselves.
  • [04:16] How the owner doesn't need to waste their time on menial tasks.
  • [04:54] If you have a hard time making appointments, pay someone to set the appointments for you.
  • [05:36] We are booked with stuff, but a lot of it is somebody else's agenda.
  • [05:58] Customer's make money. Marketing methods that are working right now. It's hard to organically grow your business on Facebook. Video is the new king in Facebook. Purposeful videos are working to get people to follow you to your offer.
  • [08:18] Getting traffic to Facebook videos. Do them on a regular basis and build the value of the content. Also give viewers a way to opt in. Facebook Live is yet to be over used.
  • [09:10] Don't do one thing. Share with database, boost or put an ad in, and use other methods to boost.
  • [10:13] LinkedIn has had tons of changes. They keep changing their algorithm. Make connections with ideal customers. Then do something like send a personal email. Engage them ask questions about their business and what they anticipate as their biggest issue.
  • [11:49] LinkedIn is about engaging. The same strategies don't work on LinkedIn and Facebook. The only thing that isn't changing is personal connection.
  • [12:34] Where does your customer hangout on social media when it comes to business purposes.
  • [13:06] People look on LinkedIn for consultants and coaches.
  • [13:22] People look for products on Facebook.
  • [13:41] The biggest mistakes are that people still think they can build an organic following on Facebook.
  • [14:37] You have to encourage people to leave Facebook and go to your landing page and opt in.
  • [14:57] Biggest LinkedIn mistake is not doing anything with your connections. Build communication and show off your expertise.
  • [15:38] What is the next offer after the free offer. Build engagement with your funnel. Have a product funnel.
  • [16:12] Product funnels provide information in bite sized pieces that are easier to absorb.
  • [17:44] People who struggle with their businesses have an idea and then go out and do things. Successful people have an idea and then put a plan together.
  • [18:33] Part of the plan is finding your target market. Get specific. When you know who your customer is then you can figure out how to market.
  • [19:22] What is their income, age, behavior, then you can find where they are. The more clear you are on your customer profile then you can figure out how to find them. It's also important to have metrics in place.
  • [20:21] What pages do people look at? How long do they stay? Find the sweet spot, then know you will have to change because people change. Stay on top of it.
  • [21:08] Put systems and analytics in place.
  • [21:53] Find your goal and five critical success factors to hit that goal.
  • [22:44] Be courageous and ask for the price you deserve. Then have your metrics include financial information.
  • [25:08] It happens because you plan and execute.

Links and Resources:

 

Jan 25, 2018

Joe Campbell is the Business Development Manager at Provident Trust Group. Provident is a trust company that can self-direct your IRA. When a lot of people think of self-directed IRAs, they think of a traditional IRA where you pick from a list of investment choices where your IRA is held. There is a whole other world of self-directed IRAs that you may not be aware of.

At Provident, you can self-direct your IRA into alternative investment vehicles. It is possible to invest in many different types of real estate and real estate projects from raw land to development. Today we talk about alternative investment opportunities, getting started, Roth IRAs, traditional IRAs, types of 401k plans, having the right team and more.

You can find Joe here:

LinkedIn
CI Bio

Show Notes

  • [01:18] More traditional IRA custodians have a self-directed account which lets you choose from their products. At Provident, self-directed IRAs get you outside of Wall Street and introduce you to some of the alternative assets that are available. Things like real estate, oil & gas, and huge list of potential assets.
  • [02:38] How a self-directed IRA is different from a traditional IRA. With the self-directed IRA, you can invest in things that aren't offered at a traditional IRA. Provident is an alternative asset custodian.
  • [04:09] Creative kinds of deals include island development deals, a marina deal, developing raw land, or renting out land, there is a multitude of ways that real estate can come into play.
  • [05:07] Emerging assets include cannabis, bitcoin, and crypto currencies.
  • [06:15] You need to do vetting and educate yourself on these assets.
  • [06:47] You don't want to do anything that the IRS will view as a prohibited piece of action or deal with individuals that are disqualified. You also want to do arm's length transactions and not buy a house from your parents or rent to siblings.
  • [08:02] You can't pay yourself to do business on properties that are held in your IRA.
  • [08:25] It's important to have a team with tax advisers, estate advisers and lawyers when doing these difficult transactions.
  • [08:53] The difference between a Roth and traditional IRA. The biggest difference is paying taxes now or later. With the Roth, you know what tax brackets you will be in. Your distributions are tax free when you start taking money out at retirement age.
  • [10:41] You have to pay taxes on all of your distributions when you withdraw from a traditional IRA. The Roth can be a very exciting alternative asset vehicle.
  • [11:33] We don't know what the tax rate will be in 20 years. Part of the strategy is you controlling your distributions and your plan.
  • [12:33] With an IRA you need to be a US citizen with earned income. With a Roth there is a top limit, but not on a traditional IRA.
  • [14:00] A 401k and a solo 401k. A 401k is associated with a retirement plan at your employer. A solo 401k is a retirement plan for your business, and you and your spouse as a small business owner or entrepreneur.
  • [16:01] A solo 401k is like a self-directed IRA when it comes to investing in alternative assets. It's the only plan that allows you to take out a loan.
  • [17:13] If you are at a job, you can't roll over your 401k until you leave that job, but you can borrow from it.
  • [18:30] When calling Joe they will ask questions and find out what phase you are in and then fill out the applications. Then the accounts will be established in less than 48 hours. To get the account ready and funded it can take about 30 days give or take.
  • [20:10] People in the traditional space will want to keep you where you are with high fees and more taxes.
  • [20:47] A deal where a client purchased raw land and held it for over a year. She then resold it and got a premium for it by a casino company and became a IRA millionaire.
  • [21:49] Mitt Romney and former Facebook employees used their Roth IRAs to invest in startups in their developmental stages. If the startups get huge, it is exciting to talk about.
  • [24:19] Educate yourself on the options that are out there. There are alternative investment strategies that you can do that may be things that you are already familiar with.
Jan 18, 2018

Weldon Wulstein is my CFO, CPA, and an extraordinary tax strategist. Last year, he helped people save or get back about 3 million dollars in taxes. Weldon is driven to  help people find tax strategies that enable them to keep more of their own money. He is so good at what he does, because he looks at it as a challenge similar to solving a puzzle.

He is here today to talk about the new tax code. This is our first of many podcasts on this topic. This tax reform bill is sweeping and has the biggest changes since the 1986 tax reform bill. A lot of the benefits are directed towards businesses and entities. Weldon shares changes and strategies to begin creating a smart tax saving strategy.

You can find Weldon here:

Ask Loral

[bctt tweet="'You have to know your exit strategy. Are you looking for a 3 -5 year play, or are you planning on refinancing at some point? You have to start off with the leadership team.' Dave Hare" username="liveoutloud"]

Show Notes

  • [01:26] Weldon wants us to keep more of our money as opposed to giving it to the government. This is the goal that guides him. He sees it as a puzzle and he loves puzzles.
  • [02:39] The creativity puzzle solving aspect of finances and investing.
  • [03:07] How Loral and her team are the alternate finance people, similar to an alternative doctor.
  • [03:32] How sweeping the tax reform bill is. It has the most significant changes since the 1986 tax reform bill.
  • [04:09] There is now a 21% flat corporate tax rate.
  • [05:11] The top rate bracket also went down from 39.6% to 37%.
  • [05:31] Weldon's favorite change is the tax deduction that offsets taxable income for business profits. This deduction comes off of your taxable income. Any business with a net profit gets a 20% deduction of that profit.
  • [07:39] Good CPAs will know what is going on, but not everyone will figure out how to utilize these reforms the best.
  • [08:31] Sole proprietors are responsible for net taxes plus the 15% self-employment tax.
  • [09:20] Let's say you have an s corp and pay yourself $100,000. With $50,000 on a W-2 and $50,000 as a net profit. The net profit deduction is only attached to that $50,000 net profit. You will need to find the best percentage to take as a wage versus taking it as a profit.
  • [10:31] The worst parts are probably the elimination of the mortgage deduction and the elimination of property and income tax.
  • [10:54] You can only deduct $10,000 a year in state income tax and property tax.
  • [11:36] Your mortgage deduction is limited to a home value of $750,000.
  • [12:16] States don't have to ratify these changes or at least it is not guaranteed.
  • [12:59] Only a few of these items will be affected for 2017 taxes. These are mostly for 2018 and going forward. This leaves some time to plan the best tax strategies.
  • [13:40] You can't just do one strategy. The plan has to be individualized.
  • [14:24] Rental property write offs are still in place for mortgage interest and property taxes.  
  • [15:26] These changes will encourage people to move into having an LLC or corp of some type.
  • [16:08] AMT tax won't affect most people making under a million dollars.
  • [17:38] There are now limitations on entertainment deductions. You can deduct the meal, but not the entertainment portion.
  • [18:58] Think about changing what you are doing to fit the tax code, so that it will fit and become deductible.
  • [19:50] All of the final regulations aren't out yet. Such as the use of gift cards.
  • [20:50] The value of what you can transfer in an estate has been doubled to 10 million dollars indexed for inflation.
  • [21:53] In about 30 days, there should be some final regulations around these questions. Payroll systems even have to be completely redone.
  • [23:40] Use caution when looking stuff up on the Internet and make sure that it is up to date.

Links and Resources:

Ask Loral

 

Jan 12, 2018

Traditional families have been changing over time. Things just aren’t the same as the days of Ward and June Cleaver. Statistics show that 62% of families are either blended or headed by single parents. I am a single parent, by choice, and this choice comes with challenges and a sense of freedom.

Today, I’m talking with one of my clients, Melissa Mackey, who became a single parent and asked me how to be effective and get it all done.  We discuss how no one really understands what it is like until they do it. We also talk about dealing with guilt, freedom, and allowing ourselves the space and time to do what we need to do to run our businesses and keep ourselves healthy.

 

Freedom will never happen if we don’t allow ourselves that space and time.

In This Episode of Real Money Talks: 

  • Practicing the art of receiving and keeping our cups full
  • Allowing yourself space and time by not feeling guilty
  • Traveling with babies and people offering to help
  • Teaching our children what it takes to be fearless
  • How nothing can really prepare you for the journey

 

 

Subscribe, Rate & Share Real Money Talks!

       

Loral Langemeier is on a mission – to educate and empower the Real Money Talks community on how to have those important money talks that are straight, to the point, and can be applied to every aspect of your life. So, tune in every Monday, Wednesday, and Friday on iTunes to learn, ask Loral a question, and create your path to financial freedom! Don’t forget to leave a review and grab your free gifts on AskLoral.com!

Jan 11, 2018

Dave Hare is here to talk about money rules and due diligence. Dave and I do a lot of projects together, and I am going to have him on the show on a regular basis. We are also going to use our new marina in Texas as an example of how a deal gets done. But first, we are going to talk about due diligence and money rules and how the rules come about for people.

 

You can find Dave here:

Loral’s Real Money Talks

Ask Loral

 

Show Notes 

  • [01:17] It's all about planning. These aren't deals that close in 30 days or less. These can be stressful and time consuming, and you could end up walking away from the deal.
  • [02:10] Make sure that your investment plan is part of your money rules not part of someone else's rules.
  • [02:53] How investing starts with money rules.
  • [03:06] What is your exit strategy. Refinance or short term play? Begin with your leadership team.
  • [03:33] Do you have a strong operation and finance team? Bring in someone who knows operations and who has an equity play. These answers are the key when speaking with bankers and investors.
  • [04:19] Who has oversight on the books? Is the business or investment family owned?
  • [04:59] Think of deals as a fix and flip.
  • [05:46] Dave ran the numbers on a deal and realized a family member had been stealing from the rest of the family. This was a deal they had to walk away from.
  • [06:24] Dave and Loral do thorough background checks on everybody involved when doing deals.
  • [06:49] Numbers may or may not make sense. Make sure there are long term leasing options and good relations. Assets are your future. They need to support the business going forward. Look at the story behind the story.
  • [08:04] Don't close before you find the story behind the story.
  • [09:19] Dave found the marina business through networking. He signed up for meetups etc. He found this contact at one of Loral's events.
  • [10:48] Get yourself out there. If you want to do it do it and get out there and make yourself known.
  • [11:25] The marina deal, due diligence, background checks, Dave's due diligence list is 12 pages long. It lets the people on the other side know that you mean business.
  • [12:25] Create a letter of intent before making a purchase agreement. A letter of intent is a non-binding contract. This gets the discussion going and let's you start working on due diligence and financing.
  • [13:38] Look at the owners background and story, the customer base, the boats, the buildings, and everything you can look at.
  • [14:09] How each person on the team brings something unique to the business. Never go alone especially on your first business. There is something that you will miss.
  • [14:43] Have team members with experience, and have someone who understands finance and accounting.
  • [15:29] You need to seek out smart knowledgeable people for your team. The buddy clubs aren't going to work because they don't have enough skill set on the team.
  • [16:23] You have to understand what someone brings to the table and what their exit strategy is.
  • [16:52] The components of the deal. Knowledge and experience will get you a seat at the table. Equity side and debt side.
  • [17:36] They approached the owner who wanted to do a quick sale. Seller financing under 50% of the value of the property. Then they had to go out and find the 55% of the loan with equity partners with an option to refinance. They are doing about a million dollars in renovations. They want to rebuild the area back to it's 1950's glory days of farmers markets and bands etc.
  • [19:34] They structured the deal with the sellers financing. This helps motivate the seller. They were also able to do a second position with the owners. The did have to pay another 1/4 percent and walk away fully financed.
  • [20:38] Deal creativity. Carry backs etc. Use creative deal structures with the use and return of the money. First money in gets more, because they have taken the highest risk.
  • [21:36] The rehab money won't get equity. There is quality of money. When you first start a deal, you have to give something up.
  • [23:08] They have a one-year note that gets double digit returns.
  • [23:36] The important thing is background checks. You have to do them. Don't be afraid to walk away if you need to.
  • [25:30] We are here to teach you the reality of owning real assets.

 

Links and Resources:

Ask Loral

Loral’s Real Money Talks

Shark Tank

Jan 10, 2018

Most entrepreneurs struggle with learning and doing many things at the same time. Especially, when they are just starting out. They are also usually short on time and soon learn that outsourcing and finding people who specialize in the one thing that they need is the best way to go. Still, that leaves them with the issue of finding and managing tons of different specialists.

Today, I talk with a friend and colleague of mine who has developed a solution for this very problem. Alexander Ford offers a done-for-you solution where he finds, hires, and manages all the specialists for you. This solution results in cost savings. He also develops an incremental strategy so that new businesses can focus on what they need most, and in the correct order.

 

"A results focused strategy is more efficiently executed with a partner that implements your specific plan."

 

 

In This Episode of Real Money Talks: 

  • Challenges of finding and hiring specialists without prior knowledge
  • Developing an incremental strategy that serves your business best
  • Having a results focused specialty developed by a knowledgeable partner
  • Creating a hard infrastructure and modernizing technology
  • Turning a website into a “cash register”

Subscribe, Rate & Share Real Money Talks!

       

Loral Langemeier is on a mission – to educate and empower the Real Money Talks community on how to have those important money talks that are straight, to the point, and can be applied to every aspect of your life. So, tune in every Monday, Wednesday, and Friday on iTunes to learn, ask Loral a question, and create your path to financial freedom! Don’t forget to leave a review and grab your free gifts on AskLoral.com!

Jan 8, 2018

In the past, people could acquire their needs and made their trade through the barter or the exchange method. Back then, life was simple, and people’s needs were undisputedly more fundamental than the needs of this present generation. As time passed by, people changed. And with that, their needs also evolved. Today, money has undoubtedly become one of the necessities of life. It has become a need to survive. We are so accustomed to using money in our daily lives we don’t even stop to wonder where it came from or what it does.

 

Today on the Real Money Talks podcast, I’m going to share with you that the money available to you depends on how you make it – you can earn it as an employee, as an entrepreneur, or as both. Remember that how you make your money significantly impacts everything else – your taxes, deductions, relationships, and even the way you contribute to the community. My hope is that at the end of this episode, after knowing and understanding the banking system and money works, you will be able to make an educated choice about how you want money to come to you and the payoffs that go with choosing how to acquire it the wise way.

 

 

The safest thing is to get smart, to get knowledge, to get confidence, and to get access. That’s security.

 

 

 

In This Episode of Real Money Talks: 

  • A brief history of the Federal Reserve Bank and the foundation of what set the world banking system in order
  • How money comes to you – the difference between a corporate bank account and a personal bank account
  • How you can maximize your tax strategy by understanding how the banking system works
  • Ways you can make money by maximizing tax savings and investing in double-digit returns
  • How to look “attractive” to financial institutions
  • Why you need a personal relationship with the bank or the banking officers despite the quick and easily accessible online banking made available nowadays

 

Resources Mentioned:

 

 

Subscribe, Rate & Share Real Money Talks!

       

Loral Langemeier is on a mission – to educate and empower the Real Money Talks community on how to have those important money talks that are straight, to the point, and can be applied to every aspect of your life. So, tune in every Monday, Wednesday, and Friday on iTunes to learn, ask Loral a question, and create your path to financial freedom! Don’t forget to leave a review and grab your free gifts on AskLoral.com!

Jan 4, 2018

The cannabis industry is one of my favorite subjects, and it will be a regular topic on this show. Ben my partner in the cannabis industry is here to talk about how he went from being a corporate guy to operating a dispensary and more in this exciting new industry.

We talk about some of the requirements and licensing details along with compliance of state and local jurisdictions. We also touch on hiring the right political consultants and understanding the ins and outs of creating a business that is scalable. We also talk about  the importance of giving back and helping the community.

Show Notes

  • [01:14] Ben has been fascinated by the industry in the last five years. He didn't know anything about it, but he kept getting pitched to.
  • [02:07] He had a negative perception about marijuana and didn't know anything about it. Then he started learning about the medicinal benefits and was introduced to some opportunities in Colorado.
  • [02:44] His first deal was in Colorado. He was first introduced through an attorney. After meeting patients, I quickly became fascinated by this space.
  • [03:49] He then met other people in the space through this attorney. Entrepreneurs and dispensary owners who had their own little grow space. The regulations evolved before his eyes because it changed so rapidly.
  • [05:03] Ben quickly learned who was growing their business and had good a operational process.
  • [06:25] The trend of the truth in any business that you are learning about.
  • [07:08] How there are so many expert consultants who haven't really actually built a marijuana business or built a business from the ground up.
  • [07:59] There are a lot of moving parts in this space. Time is money and making the right move is critical. Getting the license can be a complicated process and it may involve a political aspect.
  • [09:27] Even if the state provides you a license you need approval by your local jurisdiction. This includes a suitable location allowed by the local jurisdiction, and it has to meet the separation requirements.
  • [10:36] You also have to be the type of operator that they want in their city. You have to get to know the people making this decision and help them to understand why you are different.
  • [12:21] The people making these decisions want the best for their community. Separate yourself out as the best applicant by looking like a professional. You also want to be someone who is going to operate legally.
  • [14:46] They also want people who are going to help and give back and improve the community. Be sincere and legitimate about what you are going to do. Have a realistic executable plan.
  • [16:16] The importance of having a person on your team in the political camp. Each jurisdiction needs someone who understands the local market and the process. Be selective when choosing your political consultant. You want someone who has respect and trust of local politicians.
  • [20:29] How a consultant can put you in front of the right people, but it is actually the package that you put together that gets you the license.
  • [20:57] How do you get in line to get a license? It all starts with asking questions and finding the state and local processes and filling out the application.

Links and Resources:

Ask Loral

 

Jan 3, 2018

If you have the intention to make money, your talents and hobbies are a great starting point. Launching a business by doing something you’re good at implies that you are serious about making money. The perks of having better tax strategies come in once you have established your business. If your sales start to weaken, assess the kind of service you provide and take it from there.

In today’s episode, I share with you the upper hand in serving over selling. I also discuss how being in service to others gets you the sale. You will make a remarkable difference if you choose to serve to sell rather than selling just for the profit.

I want you to get clear in your DNA that you serve lives, and that’s why you sell hard.

In This Episode of Real Money Talks: 

  • Where money comes from
  • How your thoughts and energy affect the outcome of your financial situation
  • Reasons why you should serve others with a lower price offer
  • What happens when you don’t make the sale

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Loral Langemeier is on a mission – to educate and empower the Real Money Talks community on how to have those important money talks that are straight, to the point, and can be applied to every aspect of your life. So, tune in every Monday, Wednesday, and Friday on iTunes to learn, ask Loral a question, and create your path to financial freedom! Don’t forget to leave a review and grab your free gifts on AskLoral.com!

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