Posted by David Butler on April 04, 2007 at 13:30:17:
We’ve had a lot of discussion on the underlying theme of your inquiry here - and it all points to the most basic steps to achieving success in the private cash flow industry.
Rule #1 is to preserve capital early on. The failure rate in the cash flow industry is extremely high. Many suspect it has grown even higher over the past few years. This suspicion is not so much from increased competition - as by the fact that too many people who really weren’t suited for it, failed to explore the business carefully, before spending too much money to take all kinds of courses and workshops that just weren’t going to do them a lot of good.
The other side of that coin is that a high percentage of those remaining few who may have had a chance to succeed, wound up spending so much on courses and workshops that did not only did not do enough for them in relation to the money spent - it also had the deleterious effect of soaking up the capital and/or credit needed both to operate their business, and cover their basic living expenses during the “start-up” phase of their private cash flow venture. A double Whammy for most people.
Incredibly, this phenomenon is occurring despite the fact that there is a wealth of FREE information readily available on the Internet - including right here in the Cash Flow Forum - that would easily overcome the problems so many new people encounter. These discussions include the advice of many recognized cash flow educators who all recommend the same approach, generally speaking.
First… spend some time giving yourself a FREE mini-workshop, simply by exploring the archives here for topical information related to “getting started”. You can easily do this over the course of two weekends, and essentially give yourself the equivalent of a $1,500 to $4,000 workshop. You have the added benefit of no lost time to travel, nor any travel/lodging expenses. That is worth at least $300 to $1,200 in additional savings for most folks.
The best part is that by using this approach early on, you will gain a much better feel for the private cash flow industry, and whether or not you might want to actually spend ANY money to learn more about it - BEFORE spending that money. At the same time, you will have a much broader understanding of the business, along with some basic useful working knowledge - which will add great value to anything you eventually do decide to spend money on.
In addition, you will run across a number of helpful discussions related to who does recommend what, in terms of actually spending any money on further educational materials.
Here are a couple of recent threads that may help you begin the process…
"Re: The Green Mile?!"
"Rule #1 - What’s Your Favorite Color?"
Be sure to look at the many helpful posts made by John Behle and Mike Morongiello as well.
Hope this helps. Best wishes for your Success, and…
Have Fun For A Living!
David P. Butler