Presentation on theme: "MILLIONAIRE MENTALITY FINANCIAL FREEDOM CAN BE YOURS DEXTER YADER."— Presentation transcript:
MILLIONAIRE MENTALITY FINANCIAL FREEDOM CAN BE YOURS DEXTER YADER
About the Author: DEXTER YADER Dexter Yader, Father of MLM, can be acclaimed for building the most successful MLM organization in history with Amway, his team spanning more than 40 countries around the world and more than 1 million people. Dexter Yader started his career in the small town of Rome, New York, as a beer salesman, after graduating from high school in 1957. Yader took a series of sales jobs. He sold Sears tools, Ford cars and Utica Club beer. When a relative pitched Amway in 1964, Yader got hooked fast. "Amway became my top priority,'' he said once. "I ate, slept and breathed the business seven days a week.” Dexter also sells cds, books, seminars, and other personal development materials in addition to his affiliation with the Amway Corporation. The estimated profit from his Business Sales Materials is around $20 million.
CONTD. His works include: Dynamic people skills (1996) Dexter’s business builder (1995) Ordinary men extraordinary heroes (1992) Everything I know at the top I learned at the bottom(1991) A millionaire’s common sense approach to wealth (1991) A mark of a millionaire (1990) The business handbook & guide to build your own successful amway business (1985) Millionaire mentality (1983) Don’t let anybody steal your dream (1978)
The very purpose of the BOOK: to acquaint people with the principles for achieving sufficient cash flow and money management skills necessary to be financially independent.
. CHAPTER 1. – WHERE DO I GO FROM HERE? Determine why you want financial freedom “ a goal, or dream, is the carrot we use to develop the disciplines for acquiring wealth and to manage what is accumulated.” Management of wealth is as important as accumulation of it. STEPS- Put it on the paper: there is a psychological commitment that occurs when we put something in writing. How much will I need ? - Convert your dream in specific amount of money necessary to attain it. When do I want it ? – assign a specific date by which you intend to acquire that much of money. Don’t worry about the failure. If you don’t meet the first deadline, merely set the another and continue to work.
Contd. Giving in order to get – there is no such thing as free lunch. No pain no gain. Be willing to give up today what you want tomorrow. Plan Your Work ; Work Your Plan : Develop a plan and start working on it as soon as possible. There is no better time than now. See what isn’t there (yet) – visualize yourself as already having achieve your goal.
CHAPTER 2. WHY DO IT BY YOURSELF ? We must learn to love what we are doing. The love of people and the love of work are glue that holds success together. A wealth of help in your family – include your family in your dream. As the family is made part of the undertaking and develops the feeling that this is a joint venture, they become better able to provide positive reinforcement. Being those we wish to please, the encouragement from them is more effective than any other source. Friends can help you meet your goals – include friends in your plan. Employees who care – employees are most likely to be effective in helping you fulfill your goals when they share your dream and can expect to share in the rewards of success. Who you know can be helpful – other contacts should also be looked carefully to find a help given mutual benefits. Watch yourself – don’t let jealousy or a desire to control others drive away those who would help you otherwise.
Chapter -3. You already have more than you think In this chapter author has emphasized that we people many of time are unaware of the wealth and skills we possess. Now if we have done other works we should select a proper and efficient financial vehicle to reach our destination, because it will have an impact on the amount of time one will need to reach its goal. How are you fixed for cash – there are two basic measures of money - net worth and cash flow to watch your financial ability. The ins and outs of the cash – calculate your revenue and expenditure. You can increase funds available by increasing income or by decreasing outflow. Skills are worth money – hidden and special skills can save your money, can help you towards your goal.
Chapter – 4. IDEAS : YOUR MOST VALUABLE ASSETS In this chapter by various examples author says if we have observing and fertile mind to generate ideas, we can conquer the world. ideas are seeds which germinates in action, sprouting verdantly into your fondest dream. Without any idea, there can be no action, no working towards goal. These are few stories of unprecedented success A black man’s problem - Just the boss’s kid Who would buy a railroad Money from mistakes Too tough for a woman A- sailin’ we will go A grandmother’s dream Makes a sick company well Value in loss ?
Contd. helping the helpless Find an empty spot You want to buy a what? it’s impossible Even ibm can’t do it all Who says it is a language problem Medical school profit Rags to riches Don’t re-invent the wheels LESSONS FROM CHAPTER Ideas are your greatest resources Look for opportunity in problems Find a niche that needs fillings Always write down your ideas For every negative there is an equal or greater positive Look for something that is already working and jump on it.
Chapter- 5. THINKING STRAIGHT In this chapter there are few examples in which the author has shown that how a positive attitude can change the life even surrounded by negativity. There is one more thing that don’t get confused about your goals, if it has with you will achieve it. There are again few stories of overcoming all the hindrances of life to get what we want to have : You can if you think you can Believe in yourself On becoming positive The ostrich syndrome Dream but don’t cheat The family that yea’s together, stays together
Contd. The importance of co- workers Competing with yourself The customer is king A smile can work wonders Special delivery Control your circumstances Recession? Don’t participate Just been fired The ultimate attitudes
Contd. LESSONS FROM THE CHAPTER – Create a positive atmosphere around yourself by reading positive books or listening to positive tapes. Avoid negative people Believe in yourself even when other don’t. Assess your strength and weaknesses realistically Develop a plan to overcome your weaknesses Surround yourself with people with positive attitude Compete with your own goals not with others Make your customer king Smile, it is a cost free gift to give anyone Control your circumstances, rather letting them to control your destiny.
Chapter- 6. SQUEEZE, SQUEEZE, SQUEEZE Budgeting your money - an imaginative person can double the power of his money by its efficient and cautious spending. There are two ways to increase the money available to you – 1) increase your income. 2) decrease your outflow. Budgeting your time – time is the most valuable commodity you have, treat it with respect. Money you can save for future’s more efficient utilization, time’s once gone is gone forever. Andrew carnegie’s keys to efficiency – plan your work for each day according to there importance and try to finish it on the same day. Doing two things at once – optimise the utilization of your time by doing two things simultaneously, if your effectiveness is not hampered. Listen to me – create a good listening habit and writing Ring, Ring, Ring – don’t be slave of a telephone.
Chapter- 7. A- SHOPPING WE WILL GO Unless you learn to discipline your shopping habits, you will find yourself continually broke no matter how much money you make. Plan your shopping – plan what you buy, determine why you are making the purchase, how should I pay for my purchase, where to shop, and whenever possible shop by phone, whenever possible cut the middleman, buy quality product only when you have a reason to believe they worth extra. Shopping with credit – if you are developing the shopping discipline, get rid of credit cards. If you cant pay cash, you actually can’t afford the product. Shopping for services – don’t take a service or advice for free. Taking a product without paying is stealing, whether it be material or knowledge. Buying a car- never lease a car, if possible buy a car with cash, and buy it at the end of the month for some extra discount. Home sweet home – don’t buy a home for investment purpose only, instead buying a land of good quality with some future plan is better option.
Chapter – 8. INVESTMENTS Investing, is the placement of money with an eye to increasing net worth, for future retirement income or some other such objective. Invest in yourself – if you have opportunities invest in your own business. One should invest outside only when one has reached the point of diminishing return in oneself. Walk, then run – start your investment program by walking, then you can run.The first step –1) save regularly 5- 15% of your income, 2) develop a nest egg equal to three month’s income, 3) develop an investment plan that emphasize your goal, 4) diversify your investment. How to double your money every five years - invest in good options, which suits your risk appetite and your goal simultaneously
Contd. Investing in stocks - rule -1 ) the people who make the most money on stock investment are those who invest in themselves, rule – 2) look for the company which have a high percentage of employee investment rule - 3) always try to invest in dominant or leading company in a growth industry rule - 4) carefully watch your investment and if you don’t have time or skill for these go for mutual funds investing. Real state investments - purchase real estate for an income producing purpose rather than just an investment and you must have staying power. There’s still money in black gold – since production cost is very less, oil companies are good opportunities to invest. A note on other investments – commodities, derivatives and collectibles are also good options One more time – the best investment you can make is invest in yourself. Don’t quit a job because is seems hard to start.
THE FIVE KEYS TO SUCCESS DREAMS ATTITUDE WORK PROPER VEHICLE DUPLICATION
Review The book talks about real world things that really work. We may know many of the approaches, but how to apply them for great advantage in life, matters a lot. This is a must read for people who want to do something their own. It is an inspirational book from the genius of AMERICAN WAY.