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The purpose of this audio is to highlight the concepts of credit and debt, best and worst practices, and much more. The agenda for today is primarily an overview of credit and debt and will provide greater understanding of the subjects. 

First, ill share a quick story. 

A multimillionaire who has a net worth of 540 million dollars was first a broke salesperson. He would hear people say and give saving tips but the issue it that if you don’t have money to save you can’t save. The solution was to increase your income combined with saving and investing. 

Debt comes into play here simply because he at a young age purchased an apartment complex, an income producing asset, which generated about $60,000 in cash flow after expenses annually. This deal was financed through debt and the tenants paid the debt off for him as he obtained positive net cash flow. 

He mentions that most wealthy people use debt to get wealthy. This is a good example of using debt to become wealthy. On the contrary, people if not knowledgeable, use debt in bad ways and suffer severely.  

Later, I will discuss how people get in trouble using debt in the wrong way. For now, I’ll start with the basics of credit and debt.

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The purpose of this content is to examine the business legal structures, observe business models, and examine possible ways to scale a business. 

The agenda here is as I stated earlier and will present views and concepts in ways to get your mind thinking so you can take what information is needed to increase your business success. 

I’d like to share a few names of business that were able to scale when at first had little to no money. Not being able to find money to scale a business is an excuse plus you don’t need permission from funders to help scale a startup unless you want money from funders. 

Check out how this business still found a way to have in place a good business structure, an effective business model and successful scaling attempt.  

A person started as a teacher in need of tools to instruct web designers in the late 1990s. The offerings at bookstores were bland, so she began producing training films that better educated her students. Tutorial by tutorial her company helped software developers and designers improve their skills. 

She spent two decades building a content library and tech assets that had enough scale to entice LinkedIn to pay $1.5 billion to acquire the company. You don’t have to structure your business around getting funds from lenders unless you choose to.

Sole Proprietorship

A Sole Proprietorship is one individual or married couple in business alone. Sole proprietorships are the most common form of business structure. This type of business is simple to form and operate, and may enjoy greater flexibility of management, fewer legal controls, and fewer taxes. However, the business owner is personally liable for all debts incurred by the business.

General Partnership

A General Partnership is composed of 2 or more persons (usually not a married couple) who agree to contribute money, labor, or skill to a business. Each partner shares the profits, losses, and management of the business, and each partner is personally and equally liable for debts of the partnership. Formal terms of the partnership are usually contained in a written partnership agreement.

Limited Partnership

A Limited Partnership is composed of one or more general partners and one or more limited partners. The general partners manage the business and share fully in its profits and losses. Limited partners share in the profits of the business, but their losses are limited to the extent of their investment. Limited partners are usually not involved in the day-to-day operations of the business. Filing with the Washington Secretary of State is required...... 

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Welcome to the finance and entrepreneurship portion of the program. This is an exciting section because this is the core of what makes people able to achieve there desires in life as it relates to the money and business. 

The purpose of this section is to present a series of ideas to help give you your own ideas to use and start or continue your business. 

We hear that most people fail in business and this is because people don’t know what they are doing. How it that we have so many successful business owners and they have wrote books and give away free information on how to succeed yet we still have massive amounts of people failing at starting a business. The solution is simple. 

A person must have crisp, solid sound advice and on top of that start with a clear, focused, and detailed action plan with a design that accelerates learning and makes changes quick when they do not work until the right path has been found. Most people fail at business because they give up. 

Success and having an effective business and a great financial life comes from many failures but learning super-fast and adjusting from mistakes to create better outcomes. 

My recommendation would be to read a series of books, literature, audio programs, and other similar items to increase your understanding on your subject of interest then create an action plan by writing out tasks then organizing them in priority than focusing on one task at a time until all of them are complete. 

Another idea is to master the skills of finance and entrepreneurship which is done by relentlessly gaining more knowledge every day you should be like a sponge absorbing information.

Also, other reasons people don’t make it is because people don’t know that a person’s business exists so you must do everything in your power within your budget or using creative low or no budget marketing tactics to get notice by the public or your target market there are hundreds of ways to do this find which one works for you.

Also, people don’t focus on the number one skill of an entrepreneur which is the ability to sell. Making learning how to sell a high priority and train yourself on how to sell but have a process of marketing then closing sales and make this your focus. 

The owner of amazon is successful because he is customer oriented and always thinks of way to improve products and services. Therefore, my advice is to get your products and services out quickly either sale or give samples away for free to get good reviews and feedback on how to make products and services better.

When we think of business and entrepreneurship what goes through your head? The idea of making tons of money and living the way we want. It’s a tough process but it can be done. Entrepreneurship and business to me is a science that can be learned and taught so if you follow the rules, tracks of success, and proven methods anyone will become successful.

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How to Succeed and get what you want in life:

The purpose of this content is to share well proven effective techniques on executing actions that improve not only personal development but will enable you to increase your income. 

The agenda for this content will include case studies on examples of executing goals focuses in wealth building, general resources and using them to get your goals completed. 

Best practices will also be covered to the extent that it provides insight into staying on track and completely maximizing your productivity.

All of this information is completely critical to enhancing your skills, mastering your time management, generating results, and essentially building wealth. 

Setting goals were the focus of the previous video lessons now the concentration here is executing your goals as well as having the right resources to aid you. 

Setting goals are important and starts the beginning of your journey to success and financial freedom. 

There needs to be quick precise actions after one’s goals have been set or clearly written. 

You also must be aggressive in your pursuit as you are likely to encounter challenges so it’s important you never let any negative event or circumstance deter you from achieving your objectives.

When I started my financial education company many people were questioning it and were skeptical of my ability to become a successful business owner.  

I struggled at first because I didn’t exactly what I was doing. I worked hard but gained nothing. Have you ever felt that way? You worked hard and either nothing or a little bit was accomplished. 

You soon realize some entrepreneurs the highly skilled ones can at times work less than others and achieve more so I knew something was not right. 

What I learned from this experience is that you must know how to execute tasks swiftly and efficiently as well as know the proper resources needed to support your business needs or goals.  

After working hard and getting nothing done I soon uncovered better ways to complete the same task as I was aiming to do in the past from simply reading more books and knowing more knowledge in the industry I was involved in. 

Once I executed newer ways I saw incredible growth that built my confidence and allowed me to continue on. It’s more difficult at first starting but each hour and each day you become smarter and make less mistakes thereby increasing efficiency.    

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