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Mike on Money

Comment:  Changing our beliefs in anything including money is very difficult.  Once you get used to something—i.e.  Growing up environment—becomes a habit and then hard to break.   Completion:  People start, continue, achieve, stop, and start again (some never complete anything and therefore never change behavior)

Basic Beliefs About Money

Don’t count your money until you have paid your taxes.  Taxes are the rent you pay for the right to live in the US.

• Sacrifice at least a little now so you can live better later.
• Don’t look for magic ways to get rich
• Remember it is not always wise to diversify with your money—Mike says we buy real estate and art—that’s our only investments.
• Only invest in things you can see on a regular basis.
• Spend time learning about money so you can take care of It.

What Mike Has Learned About Money in the Last 25 Years

• If you’re not working daily at earning a lot of money you will stay where you are forever.
• Never underestimate the power of having a lot of money.
• Every deal I do is critical but I should never do a deal that could ruin your life.
• If I commit to learning something new about sales everyday my money will grow.
• Since emotions are a major part of everyday, remember emotions are exhausting and limit our ability to earn money.
• Our egos are way too big to produce at the level we are producing at today and limit us.
• Our most intimate little fears still limit our ability to make money.  What fear do you have about money?
• Winning is the # 1 fear of most people therefore it is limiting us.
• Losing is a habit just like winning is a habit and therefore losing money.
• The amount of money that I earn is exactly what I believe I should have.
• If you don’t take some risks to change your belief– most of the time you will find the way to make it happen.
• If I want to make money I have to have fun each day.

Mike’s Thoughts on How to Become A Self-Made Millionaire

• Become a big dreamer.  (Never be content) What would my life be like if I really did what Mike said and what the coach said?
• Fall in love with being a salesperson.
• Focus on your strengths all the time (your discipline, smile etc.)
• You have to have a lot of accountability.
• Never consider the possibility of failure.
• If I want to become a self-made millionaire you have to have a clear sense of direction.  The more goals you set—the higher you set the bar.
• Work hard every day—not just on the days you feel like it.
• Spend time with the right people
• Be teachable and be coachable to make a lot of money.
• Be prepared to climb from peak to peak but accept the valleys. Recognize when you are in that valley and get out.
• Develop the ability to bounce back quickly.
• Have to be an unshakeable optimist.
• Dedicate yourself to your customers.
• Develop a reputation for getting things done quickly.
• Remain 100% focused on doing deals—how many deals can you do per week?
• Be 100% honest with yourself.
• Don’t be emotional regarding your daily results.
• Life is not easy and it’s almost never fair.

Mike on Creating Wealth Starting Today:

• I must become an out-of-debt person.
• Get rid of your junk debt first.  Buy things that will improve the quality of your life.
• Create enough income today to save 15-20% of it—starting today.
• Quit trying to buy a name for yourself if you want to make a lot of money.
• Invest heavily in your personal education.
• Create a financial plan ASAP.
• Hire a professional person to assist you.
• Start displaying more self-discipline.

Final Thoughts on Becoming Wealthy

• Carefully decide how much you want to make… be realistic.
• Be sure to spend time with people who have done what you are trying to do
• Becoming wealthy is mental – not physical, starts in my head
• What’s really stopping me from making money?
• Our present environment- sell your goals to your family