Creating A Cash Machine... and more

by Dale Shumaker
4spirit@gmail.com

The Millionaire Maker's Guide to Creating a Cash Machine for Life by Loral Langemeier is an action and learning as you go strategy.

Real wealth she says is made in business. You can learn how. Done right, learning as you go, you can create a cash machine for life. Loral's concept features using your skills, finding an idea compatible with those skills, finding another business model you can adapt as yours. In 120 days, the goal is to have the cash machine in place.
In the first seven weeks develop these areas:

Week: 
1. Discover skills you already have 
2. Generate ideas based on your skills 
3. Model a similar business 
4. Test sale the idea through revenue modeling from the business model 
5. Design a strategic plan for your cash machine (very important step) 
6. Create a team of those who can do what needs to be done where your skills are lacking
7. Develop a marketing and sales strategy.

The concept evolves around getting started and learning more of what you need to know as you go.

As you are going, you'll need to learn the Entrepreneurial Skill Set.
Once you start making money you must keep developing, so your cash machine grows. Loral is not about making just $100,000 a year, but building a business that grows to a perpetual $1 million company.... a cash machine for life.

The Entrepreneur Skill Set:
Management: Business takes vision, vision takes leadership.
Marketing: It's continuous and is more than just advertising.
Sales: Something everyone needs to do well in business for expansive growth
Operations: Systems need built for accounting, database tracking/analysis, tech process, with legal and tax strategies.
Finance: Profit/loss; asset/liability; cash flow analysis/strategies are essential.
Accelerating: When up and running the business needs accelerated, built right with creation of ancillary products and services. 

Finding Your Skill Set
Examine everything you've ever done, were good at, and naturally motivated you. Loral has 9 questions to help you find this. What's most important is what you know and are good at. This is the best place to start.

The Gap analysis: where you are now. Where you want to go. The gap between.
That's your first goal. What skills do you have to make money?
After looking at school, all jobs, hobbies, clubs, chores, business, you will find the skills you have, skills you are going to need, skills you will learn.

Qualities of the entrepreneur you'll need to build as you build the business: courage, resourcefulness (creative problem solving), perspective, initiative, persistence, flexibility.

You learn as you earn: organization, energy management (beyond time management), driving outcome, quantitative and qualitative analysis, communication, team building, intuition.

Most important in this process is learning the skill of working on your business instead of working in your business. Plus developing the special skill of Future Pacing. That is looking into the future to what needs to be done and working as you go strategically, systematically toward greater market share of markets that have doors coming open; doing the right thing at the right time.

Idea Generation
From your skill set, what idea revolves around your strengths. The goal, according to Loral, is to get into an on going operation immediately so you can start learning the entrepreneurship skills.
The right idea includes
1. What do you want?
2. What are you committed to?
3. What is possible?

Analysis is important but not over analysis. It doesn't have to be perfect, but thought through enough to start. Business is a lot of figuring a lot out as you go. The 120 day plan gets you beyond the analysis into action.

You create a 120 day schedule with monthly goals, and weekly tasks. Make a plan, detail the plan, commit to the plan and do it in a 120 day schedule. Loral emphasizes emphatically the importance of written schedules... over these 120 days (4 months) in detail.

Look for ideas in market opportunities, trends, whispers, happenings elsewhere you can do there, trade magazines, TV, Internet, biz brokers, yellow pages, ads and eyes and ears open.

Keep it simple, not too original (too new may not be accepted), gaps in the supply and demand.

Loral suggests you can build a business, fix an existing business or buy a business. When buying, it should be one that is doing well.

Modeling--Finding a form to follow
This one feature of Loral's is what gets you going while learning the entrepreneur skills. You find someone, somewhere who is doing what you want to do, is doing it well, and will help you. It may be several hundred miles away, but this will give you a model to follow. Loral guides you step by step on how to approach a person and what to specifically ask. Before you do, check out the Internet, your local library, small biz administration, local college, bookstore.

Ironically, some who have businesses may not know how their business works. If you can't find a direct model, many may be a parallel in how to do it that you can model. Locally, these (not competitive to you) may help you out more in your area.

Revenue Modeling shows how to create financial strategies to meet your goals. Loral says to define what you want, then come up with how you will do it. You may have to revise how you do it several times to get it into a Millionaire making formula. This is part of the process, but critical so you don't settle for less, and find the right one for you.

The Cash Machine Plan
Write it in one day. Outline:
The Concept... based on skills, what you know
Opportunity... unique selling proposition for product/service
Strategy... what will take it into reality
Team and Operations...who will fill them, how to do it.
Financials... break even analysis with profit/loss, cash flow
Future Pacing... other streams of income and when they will enter the picture
Revenue Model and Cash Flow analysis
Outline structures and systems for legal, accounting, tax and liabilities, marketing, database, information.

Build the Team
Find mentors, helpers, and specialized people. Pay equity or hire. Some you hire may come in later in an equity position. This is a good way to see if you work well together, before an equity position. Create ground work so you move from a do-it-all person to hiring support, creating an organization, teams for managing, marketing, sales, operations, finance.

Hiring first or using contract services may serve you well initially.
It is easier to shuffle hired services than to remove or buy out partners. Shuffling will be necessary as growth and new market development occurs.

Sales and Marketing
Target who to market to, your position toward them (how they see you and can differentiate you from others) and what will work best. Marketing is critical even if word of mouth takes off at first. More systematic, strategic marketing will be necessary later. Again, the Loral theme is to learn as you grow so you know how to create growth at more advanced levels.

Loral covers where to market, marketing models, driving traffic to you, customer differences, reach and frequency, becoming the product, and simple steps to getting started in selling.

To make selling work: Enthusiasm, customer service, understanding, narrative, staying focused, igniting interest, putting a proposition on the table, creating reality, creating a feel good environment, drive the outcome, think their thoughts.

Operations/Finance
As you grow the need to do this well increases dramatically. To make your cash machine live throughout your life, work flow and cash strategies are of the utmost importance. Consider location, best equipment/technology, systems flow of information and data, hiring right is critical, and your entity (legal) structure.

Finance requires regular monitoring of income statements, balance sheet, cash flow statement. Have trusted bookkeepers, but you must know what's going on and know what they're doing and why.

Maintain revenue tracking of forecasts and actual. Do this quarterly and break it down monthly. Review quarterly comparison of actual revenues. Make expense budgets for all areas... for the forecast and actual monthly. Know where you are, what you're doing and learn what can make a difference.

Work both sides... saving money and increasing the money in-take stream. The more you increase profits in each area (efficiency), the more you accelerate real income growth with sales volume.

Accelerate the Machine
1. Increase new customers or clients.
2. Increase number of repeat customers.
3. Increase multiple transactions per customer.
4. Team market through joint ventures.
5. Expand channels of distribution.
6. Increase marketing dollars to build marketing strategies.
7. Increase infrastructure (organization, work force).
8. Seed development and support execution.

The Cash Machine starts with your skills, your ideas, modeling someone's business and revenue system. Plan it out, team up for skill balance, market for results and grow by advancing entrepreneur skills. If you are starting a business or want to add another income stream to your business, want to switch from one that's not doing too great, or just got your first job out of school/college and want to begin an extra income stream (this is the best time),
The Millionaire Maker's Guide to Creating a Cash Machine for Life is a excellent resource guide.

Everyone in business and in jobs needs to create perpetual income streams. Loral's goal of doing at least 1 million is the target everyone should set their sights on.
Loral's website:
www.liveoutloud.com

Start small... but start. Start with what you have and what you know. Do not despise small beginnings the prophet Zechariah says. We develop, mature and we constantly exceed everything accomplished before.

We do the same in Spirit. We are destined to exceed the initial explosion of Spirit we first heard about in the Acts in the Bible. These are seeds planted in the mind and heart to grow to what is next. We can expect more, much more.

Everything in our society has matured, progressed to greater levels from Century to Century. For example, transportation in just one hundred years has gone from trains, to cars, to airplanes, to space shuttles.

What we see recorded in history of great Spiritual feats was also just beginning stages of much greater things to come. The intention is that progress moves to more advanced levels. Some say what we see in Spirit now is as good as it gets. Even our natural minds can see this as not true. In Spirit we can expect much more, exponentially much more.

The Spirit is more advanced, sophisticated than anything that exists. The Spirit has unlimited and unimaginable potential. Spirit is the very own power of God... as Paul said that the same Spirit that did the remarkable, raising Jesus from the dead, That Very Same Spirit of God lives in you.

How can we acquire this kind of Power expressed on a regular basis in our own lives? Andrew Murray in The Experience of the Holy Spirit (Whitaker) shares this.

"The first disciples serve us as examples and forerunners on the way to fullness in the Spirit. What do we find in these disciples?"

"They were deeply attached to the Lord Jesus."
He desired to attach them to Himself. He wanted them to identify themselves with Him, as far as this was possible. By knowledge and intercourse, by love and obedience, they became inwardly knit to Him. This was the preparation for participating in the Spirit of His Glorification."

"They had left all for Jesus."
"In order to obtain possession of the kingdom within us, we must sell all that we have."

"He that forsakes not all that He has cannot be my disciple" (Jesus).

"The spirit of this world has penetrated so deeply into us that we do not observe it. We share in its desire for comfort and enjoyment, for self-pleasing and self-exaltation, without our knowing how impossible these things make for us to be filled with the Spirit."

"They had despaired utterly of themselves and all that is of man."
"Man has two great enemies... the world without, the self-life within. It is quite possible for a man to have much progress in forsaking the world while the self-life retains full dominion within him. On the other hand, there is nothing that brings so much blessing as entire despair of ourselves and all that is upon earth, in the way teaching us to turn our hearts only and wholly to heaven and to partake of the heavenly gift which comes thence."

"They received and held fast the promise of the Spirit given by the Lord Jesus."
"Jesus comforted His disciples with one promise... the mission of the Holy Spirit from heaven. This was to be better than His own bodily presence among them. It would be to them the full fruit and power of His redemption."

"He that believes in Me out of his heart shall flow rivers of living waters."

"For us also it is the one thing needful to hold fast that word; to set our whole desire upon the fulfillment of it; to lay aside all else, until we inherit the promise."

"They waited upon the Father until the performance of the promise came and they were filled with the Spirit."
"The gift of the Spirit is the most personal act of the Godhead; it is the gift of Himself into us. We have to revive it in the very closest personal contact with God. Every tree continues always to grow from the root out of which it first sprang. Let us turn back" and continue its growth to a great tree with many branches as Jesus said.

"Attachment to Jesus, the abandonment of everything in the world for Him, despair of self and of all help from man, holding on to the world of promise and then waiting on God, the Living God... this is the sure way of living in the joy and power of the Holy, Mighty, All-Powerful, Spirit."

"Now I will rescue you and make you both a symbol and a source of blessing... I am determined to bless Jerusalem and the people of Judah."
(Zechariah 8:13, 14, NLT)

This is an irrevocable Promise God made to us.
Zechariah also prophesied, "The weakest among them will be stronger than King David, the royal descendants will be like God, like an Angel of the Lord who goes before them."
(Zechariah 12: 8, NLT)

It is a promise. We can expect it.
And there is more than we have ever seen.

Expect and receive it. It will develop in you.
As a seed, it may start small, but nurture it. It will mature to new, outstanding unexpected greatness. Constantly exceeding its last best performance.

There is a greater, more indepth indwelling lifestyle of Spirit.
It is greater than Moses, Elijah, Paul, Peter, and the early Apostles, and even Jesus... He even said so.

The greatest is yet to come.
Come in line with Spirit and it will be part of all of Us.