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Friday, August 14, 2015

5 Things Millionaires Do That Most People Don't


My lifelong dream is to create more millionaire students than any other stock trading teacher out there. I’m lucky enough to have reached the seven-figure mark myself, and now, I’m dedicated to sharing everything I’ve learned - including the stock trading patterns that work in any market - with the students in my Millionaire Challenge.
But one thing I realized pretty early on was that, if I wanted to teach people to be millionaires, I had to study people who had already reached this level of wealth. I had to learn what they did differently so that I could help my students to not just hit this magic number, but to retain the money they earn and build generational wealth.
And today, I’m sharing a few of the things I’ve learned with you. I hope they help - no matter what financial stage you’re currently in.

1. Millionaires work hard.

A lot of people think that winning the lottery is their ticket to success, but I’ve got bad news for you. Nearly 90 percent of lottery winners go through their winnings in five years or less, leaving them back in the same situation they were in before they won.
Millionaires know that there are no shortcuts to success. There’s only hard work executed relentlessly in pursuit of a goal.
I know that, in my case, I wouldn’t be where I am today if I hadn’t been willing to work hard. I didn’t have a mentor when I started trading stocks in high school. It was up to me to put in the hours needed to become successful. There were plenty of times I would have rather gone out with friends or played video games -- anything but sit in front of the computer and study stock charts for another hour.
But I did it. I put in the work upfront because I knew the results would be worth it, they’ve paid off. I’m living my dream lifestyle because I wasn’t afraid to work hard.
2. Millionaires are focused.
That said, it isn’t just about working hard. You have to be working hard on the right thing.
Have you ever known somebody who’s constantly jumping from one “million dollar idea” to another? We all want to be rich, but the people who can’t choose one path to focus on simply aren’t going to achieve it. It’s the people who dedicate themselves to a single pursuit that come out on top, whether that one path is penny stock trading, company building or something else.

3. Millionaires are careful about risk.

I happen to think that penny stock trading represents one of the best opportunities to build generational wealth. The barriers to entry are low and, if you follow the rules I’ve learned, your risk is relatively low.
But whatever wealth-building approach you take, you’ve got to keep your risk in check. It’s not that you shouldn’t take risks, but the risks you take should be calculated. One of the tools we use in trading is the “risk-reward ratio” -- basically, how much risk you’re willing to take on for how much potential reward.
You can apply this line of thinking to just about anything in your life. If there’s more risk than there is reward, stay away. But if there’s more potential for reward than there is risk of loss, you may be looking at a great opportunity you should take.
4. Millionaires are generous.
Take a lesson from generous billionaires Bill Gates, Warren Buffett, Carl Icahn and Ken Langore. Giving money can feel just as good (if not better) than earning it.
I’ve recently started my own charitable foundation in order to give back $2 million to my community, and I have to tell you, it feels amazing. I wish I hadn’t waited so long to get started, but I’m looking forward to making up for lost time.

5. Millionaires never stop learning.

This is such a big one. Millionaires love to learn because they’re always looking for ways to expand their skill sets and get ahead in their fields. They read books, watch documentaries, study educational materials and talk to others who can give them more information. Millionaires know that knowledge is power, and they stop at nothing to get it.
No matter what your net worth is right now, you can put this tip into practice today. If you’re learning to trade penny stocks, you can watch videos, read SEC statements, study stock charts or learn from others in industry chat rooms. You can do all of these things for free, but the value of what you learn will be worth so much more in the long run.
Which of these habits could you add to your life? Commit today to making at least one change that puts you on the path to becoming a millionaire.

9 Success Habits of Wealthy People That Cost Nothing


Have you ever you wondered how certain people have gotten so successful? Sure you have. A great idea, motivation, persistence, and a little luck helps, but most successful people share certain habits. Here are nine habits that have helped place them on the top:

1. They meditate.

Ray Dalio, the founder of Bridgewater Associates, told The Huffington Post in 2013 that "Meditation, more than anything in my life was the biggest ingredient of whatever success I've had." Dalio, however, is not alone. Oprah, Rupert Murdoch, Russell Simmons, Arianna Huffington, Bill Ford and Padmasree Warrior have all attributed mediation as a huge component to their success.

Taking care of your body and mind by relaxing, exercising, healthy eating and getting enough sleep are all ways to improve your chances of success.
2. They wake up early.
President Obama, Richard Branson, Jack Dorsey, Larry Schultz, Tim Cook and Xerox CEO Ursula Burns are known to be early risers. How has this attributed to their success? Because early risers are able to start their days ahead of everyone else by responding to others, exercising and finding some personal time, early risers also tend to be happier and are more proactive.

3. They network.

Successful people realize the importance of networking. In fact, research has found that networking can lead to people performing better at work and increases the chance of landing a job. Networking helps our successful people be more innovative. According to Dale Carnegie’s classic “How To Win Friends & influence People,” successful people rarely complain or criticize. They are sincere and try to be empathetic.

4. Keep themselves busy.

Successful people are rarely idle. Achievers like LBJ and Robert Moses were known to work 60-65 hours per work. Elon Musk works a whooping 80-100 hours per week and has said, “That's the type of work ethic an entrepreneur needs to have.”

5. They know when to say "no."

“The difference between successful people and really successful people is that really successful people say no to almost everything.” - Warren Buffett
Successful people realize that by saying "no" to negativity, extra work and activities that waste time, they can focus on increasing their productivity. If they say "yes" to everyone or everything, they’ll be too distracted and will not accomplish tasks that have to be done.
6. They don’t watch TV, they read.
According to Thomas Corley, author of "Rich Habits: The Daily Success Habits Of Wealthy Individuals,” 67 percent of rich people only watch TV for one hour or less per day. Corley also found only 6 percent of the wealthy watch reality shows, while 78 percent of the poor do.
Additionally, 86 percent of the wealthy love to read with an impressive 88 percent claiming that they read for self-improvement for 30 minutes or more per day.

7. They write to-do lists the night before.

Successful people are known for writing their to-do-lists the night before so that they are able to set priorities for the following day. They number their lists as well to identify which tasks are the most important.

8. They set goals and visualize.

Joel Brown interviewed a number of high achievers for Entrepreneur and found that “Ninety-five percent of the successful achievers I have interviewed practice writing down their goals, plans, or visions for success on a regular basis.” Successful people do this the night before, or first thing in the morning so that they are prepared to tackle the challenges that await them.''

9. They manage their money.

Successful people have gotten where they are because they were able to manage their finances well. This means that they invest their money wisely, look for new opportunities and set aside emergency funds. They are more generous and willing to donate to those who need help. Here are 101 ways that I've put together to save money like well-off people. In addition, I've found that my marriage has become 10x better with enough savings in the bank for a year of expenses. That saved us when my last business venture failed.
There is an old saying that luck and preparation always meet opportunity. The most successful people set themselves up for success by preparing all the time. Successful people expect luck will find them, and it usually does.

Thursday, August 13, 2015

5 Tips for Dealing With a Personal Crisis or Health Issue While Running a Business


Michelle Goodman
Ted Murphy is no stranger to fundraising under duress. In 2011, when the serial entrepreneur was raising capital to sustain Izea, his Orlando, Fla.-based social media marketing company, his mother was hospitalized for a quadruple bypass. The next year, while Murphy was raising another round of bridge financing, his prematurely born son spent two months in the neonatal intensive care unit fighting for his life. Once again, Murphy found himself taking investor calls from his car in the hospital parking lot. 
“I was getting very close to running out of money,” he says. “I had to close a deal within a week or so if I was going to keep the lights on.” 
Murphy got his money. And we took some lessons from his ordeals and those of others in crisis mode to put together a quick guide to staying on-task with your business, no matter what personal obstacles you may face.

1. Share only relevant details.

Steer clear of sharing personal traumas and raw emotions with investors you’re pitching. “You want them focused on the company and the opportunity,” Murphy says. 
If an investor does find out that you’re in the midst of a marital split, recently filed for personal bankruptcy or are dealing with some other issue, “you have to have an answer ready in case they bring it up,” says certified financial planner Keith Klein, principal at Phoenix-based Turning Pointe Wealth Management. Don’t ramble; a succinct explanation that your lawyers are on top of the situation and your company is on track will suffice.

2. Avoid time wasters.

That’s what Luke Cooper did last year when his 4-year-old daughter was diagnosed with a rare cancer while he was raising $500,000 in seed funds for Peach, the Baltimore-based product-warranty platform he co-founded in 2013. 
“We talked to some investors who we felt were going to take us down a path of extra diligence and unnecessary labor,” Cooper says. So rather than jump through additional hoops for investors who seemed lukewarm to his idea, he focused on those who were more eager. 

3. Call in the cavalry.

It’s OK to admit that you need a support system to make it through this period, especially if you’re the sole founder of your company. Friends, colleagues and mentors who have been through the fundraising process are ideal for offering guidance. 
During his time of need, Murphy’s father and brothers—all entrepreneurs themselves—served as sounding boards. “Having an independent advisor who has no stake in the company is one of the best things you could possibly do to keep yourself levelheaded,” he says.

4. Take care of your health.

It may sound simple, but in the thick of a personal crisis, it’s easy to skimp on nutrition, exercise and sleep. “That was my No. 1 lesson in all of this: When I stopped taking care of myself, I felt like I was going off the rails,” Murphy says. “It’s a lesson I still follow today. Taking care of myself first lets me face anything.” 

5. Consider postponing.

It’s the choice of last resort, but if you can’t keep your head in the game or don’t have time to adequately prepare for investor meetings, you risk making a shoddy first impression that could have lasting repercussions. Better to postpone, says Donald DeSantis, co-founder of Hightower, a New York City-based commercial real estate platform: “There are very few products where the time sensitivity is so huge that you can’t wait 90 days.” 

6 Grammatical Errors That Need to Stop Now



Proper grammar seems to be a thing of the past -- why stress about tiny technicalities, right? Wrong.

You should be a grammar stickler for many reasons. Do you want to risk turning off potential clients, employers and connections because of grammatical mistakes?

Many people are so concerned with what they are saying in an email or text message that they completely forget to pay attention to how they are saying it. If you chose to turn grammar mode off when you are communicating with friends, that is one thing, but there is absolutely no reason to send a professional communication that contains errors.

Here are six grammatical errors that are so simple, yet such common offenders. Make sure you aren’t making them.


1. Your/You’re


This is probably the most common mistake I see on social media, in text messages and in emails. This one is real simple -- if you are trying to say “you are” then “you’re” is correct. If you are talking about something that belongs to you, such as “your car” then you use “your.”

2. Too/To/Two

Many people confuse these and don’t even realize they are doing it. It’s real easy -- “two” is a number, “too” is an adverb that means “also,” and “to” is a preposition used to express motion, direction, limit of movement, contact, a point of limit in time, purpose, intention and destination -- to name a few.

For example:

“I would like to become an entrepreneur.”

“I too would like to become an entrepreneur.”

3. There/Their/They’re

What should have been squared away in third grade continues to haunt grammar police on a daily basis. The there/their/they’re mistake is common -- but it’s really simple to avoid.

Use “they’re” when you are trying to say “they are.”

“Their” should be used when you are indicating possession.

Finally, “there” needs to be used when referring to a location.

Example: "They're going to love working there. Their company culture is amazing!"

4. You/U

This one is really just pure laziness rather than a grammatical mistake. Texting has completely ruined grammar and you/u is a perfect example. I understand that “u” is perfectly acceptable if you are texting a friend and are in a rush -- but it’s not acceptable in a professional email.

Here is an excerpt of an email I received last week from a C-level executive who is in charge of a company that does business worth several hundreds of millions of dollars every year:

… that would be gr8! Talk to u soon!

He managed to nail two text slangs back to back like a champ. Again, if it was a text message, fine -- but a professional email is no place for this. This email is actually what sparked me to write this article, so thank you grammatically challenged C-level executive.

5. Then/Than

When you are talking about time you use “then” and when you are making a comparison you use “than.” It really shouldn’t be that difficult to distinguish what one to use:

“We are going to grab a quick bite to eat and then head back to the office.”

“This new software update is much better than the previous version.”

6. It’s/Its
This one confuses a lot of people, mainly due to the apostrophe, which typically symbolizes possession. Use “it’s” when you are trying to say “it is” and use “its” when you are looking for the possessive form of “it.”

“I looked at its owners manual to get the correct settings.”

“It’s a beautiful day outside.”

Wednesday, July 29, 2015

DearCathy.com - Got A Question - Ask The Expert...: Easiest Way to Become A Speaker

DearCathy.com - Got A Question - Ask The Expert...: Easiest Way to Become A Speaker: July 29, 2015 Dear Cathy: It’s been my lifelong dream to become a Speaker but I have a fear of speaking.  I wanted to join Toastma...

Thursday, July 9, 2015

5 Truths to Remember When Facing Failure as an Entrepreneur



Encountering failure as an entrepreneur can be crushing, especially if you’re new to the experience. 

While leading a business, you’re in charge of making the decisions, and you’re the one that’s accountable when something goes wrong. When something does go wrong (and something always will), it’s easy to take it as a sign of your own incompetence, or to believe that there’s little to no hope of recovery. And because you’re so passionate about pushing your business to succeed, failure can be utterly heartbreaking.
However, failure can be overcome. When you understand these five essential truths about failure, you’ll be able to handle your setbacks better and set a brighter, more optimistic course for the future.

1. Failure is inevitable.

You can’t escape failure. Any successful entrepreneur who tells you he or she has never failed in the history of his or her business is lying. Success can only come through experience, and experience is incomplete without failure. If you spend more than a day working on something, it’s only a matter of time before something goes wrong.
Of course, that isn’t to say that all businesses are destined for failure. Your inevitable failures could be small in comparison, such as hiring the wrong person, missing a shipment or coming up short of your annual financial projections. When you face the consequences of your failure, remember that failure is an essential part of the entrepreneurial process, and even the most seemingly successful people have experienced it.

2. Every failure you survive is a learning experience. 

No matter how big or small your failure is, it’s possible to look at it as a learning experience. Even if your entire business goes under, you can take the lessons you learned from this failure and apply them to your next venture. By doing this, you rob the failure of its power -- it isn’t a sign that you are incapable of achieving something. Instead, it’s just a hard step in the right direction.
The best way to learn from any failure is to perform a thorough root cause analysis. What factors led to this failure? Why did this happen the way it did? How can you improve your processes, outlook and yourself to avoid this type of failure in the future? As long as you can make some kind of improvement, the failure will be worthwhile.

3. Failure never means the end. 

When you experience a major failure, it’s easy to erroneously think that it’s the end of your journey. For example, if your business is forced to file bankruptcy, you could make an assumption that your career as an entrepreneur is over. However, this is only the case if you allow it to be.
Failure is never the end of the road. Instead, it is merely a section of that road. It may be hard to cross or intimidating to look at, but as long as you trudge through, your path can and will continue. Refuse to accept that your failure means the loss of your goals, and start thinking about how you can shape your future.

4. Failure makes success taste sweeter. 

It’s difficult to realize in the moment, but every failure you experience and every obstacle you overcome is going to make your success seem all the better once you finally achieve it.
You might not hit exactly the goals you originally set out to meet, and you might not arrive at your destination exactly how or when you planned, but as long as you keep moving forward with a positive attitude, a solid work ethic, and the ability to change over time, there’s nothing that can stop you from succeeding. Once you get there, you’ll look back and feel far more satisfied than if that success had come to you easily.

5. Your next failure will be easier to accept. 

The last thing you want to think about after experiencing a crushing failure is another failure that awaits you down the line. But remember, failure is inevitable, so it’s only a matter of time before you fail at something else or fail in a different way.
Here’s the good news: each time you fail, it will be easier to accept. It will be easier to learn from. You’ll have an easier time moving on. It only gets better from here.
While it might seem like a big deal at the time, it really doesn’t matter that you failed. Small failures such as missed deadlines will vanish on their own in a matter of weeks, and even major failures such as the bankruptcy of a company will only serve to strengthen you if you approach them correctly.
You can’t undo a failure -- you can only choose to move forward from one, and when you do, you’ll be better positioned for your next, true success. 

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Cathy Harris is an Empowerment and Motivational Speaker, Non-GMO Health and Wellness Expert, Self-Publishing and Business Coach.