Action Plans – The Wealth Maker

Reality Awaits

In our post, From Dream to…, we continued the journey we have embarked on to explore different dimensions of the realm of dream delivery.

It’s always good to have dreams, and it’s even better to let them see the light of reality.

We humans have been endowed with very special gifts. Two of those gifts are of inherent importance: Intention and attention.

The conscious human intention is attributed to awareness, something other species don’t have. In the animal kingdom, for example, efforts are solely driven by instinct. We, on the other hand, have the capacity to choose, and then act on our choices, sometimes clear of the influence of instinct.

For an intention to unfold, attention has to be on its side. We need to ‘see’ the way before us, and continuously align our advancement to our intentions. Otherwise, instinct takes charge, leading a way that is not necessarily the same one we set off to traverse. That’s what renders most intentions unrealized. A sure prescription for disappointment.

Our focused attention on the intention should be dynamic. As we keep the original vision clear, crisp and infused in the work we do, we consistently observe the activities, making sure they align and have a good potential of leading to our intention. Why a ‘good potential?’ Because the future is, by its very nature, uncertain. We need to keep our options open at all times in the face of the unpredictable.

No matter how big and far an intention seems, reaching the top of that mountain is simply a walk; one step at a time. As important as knowing our intention is figuring out what those ‘steps’ are.

Usually, at the beginning it might be difficult to know the steps and how they align to lead to the desired result. We need a good estimate of the main building blocks of the ‘project’ at hand. As we start taking action, more details unfold, helping us adjust our course.

Depending on the complexity of the undertaking, this might grow into a quite large web of interrelated activities. That’s where project management methods and tools would come in handy.

Pick the system that makes sense to you. As this may become a daily companion, try selecting something that is fun and exciting to use.

I use a tool called Quire. Simple and effective. You can start with a single idea, then grow it into a plan by breaking it down into smaller ideas gradually, nestling levels of complexity within each other, in a parent-child configuration. This helps you focus on one thing at a time without losing sight of the bigger context immediately above it, or all the way back to the original single idea.

At any given point in time, you can see what is due today, tomorrow, and later, as well as what is overdue from previous stages.

How can that lead to realizing a dream? What if we get swamped by the details and lose sight of what we really want to achieve?

It’s possible to get derailed, ending up in a perpetual cycle of to-do lists that do not seem to finish. A common reality of so many people all over the planet.

To effectively avoid that, we must have our attention on the intention at all times. For example, we can commit to weekly, monthly, and annual alignment reviews, making sure what we do on a daily basis does not sway our ship adrift from the destination.

In the next post we will conclude this series with an example that links the dots together, in a way that help streamline the implementation of the concept.

Stay tuned.

The Wealth Maker

Image Credit: Todd Quackenbush on Unsplash

How to Weather Financial Storms

Wealth is a state of being. An orientation towards abundance that is unique. On one hand, you do not feel “entitled” to anything. You see what you have as a pure blessing. On the other, one believes he or she deserves prosperity as a birthright, and go out in the world to attain it, ethically and effectively.

Financial wealth is no exception. It comes as a result of who you are, and how you translate that into enlightened, guided and productive actions.

Like everything in this short passage called “life”, like the oceans that ebb and flow, the state of our physical wealth may go through ups and downs. The frequency of such changes could appear over the course of years, or months, depending on the structure of your financial foundation, and your short-, mid- and long-term decisions.

When everything is alright, everything is alright! Friends and family are close, all is well, and everyone is “seemingly” happy.

As things start faltering, guess who sticks around? Only those who love you, or like you, regardless of your financial status, or any status for that matter. This is important to know in good times, not only in bad times. It helps choose whom to trust.

On the practical level, it is advisable to always have, stowed away, a six-month reserve to cover basic, essential needs: Food, shelter, car, school tuition, etc.

What if the downturn lasted more than six months? It is possible, and we’ve seen it, especially in a soft economy. Here comes the importance of long-term planning, and preparation. As a master of your ship, you can “see” those black clouds before they hit home, and get to work on your plan B, C or even D (of course, you do have at least B 🙂

How about the emotional side of things? This could be tougher!

How can you maintain your composure, your strength, and your trust in a higher Power that knows what you’re going through, and will never leave you alone, as it always has?

This is not theoretical, or abstract. It is as real as it can get. We need our emotional and spiritual energies at their best. Otherwise, the storm might wipe us out, no kidding about that …

What we do when “everything is alright” comes to the rescue when things are not alright. Serving others quietly and candidly, helping the needy, being active volunteers in our communities, nurturing the relationships we’ve built upon love and trust. But the most important is cultivating an unwavering faith, a special connection beyond space-time and cause-effect restrictions. All of that is a different kind of “deposit” in a mysterious, yet real, emotional/spiritual account. We deposit without keeping track, for it comes naturally out of who we truly are!

And finally, we need to remember that no storm lasts forever, and that every storm brings with it opportunities for growth, which would’ve never been possible otherwise.

The Wealth Maker

The Wealth Making Architect™

If you performed a Google™ search on the above title, you’d get something along the lines of either wealth advisors or engineering architects.

I wanted to introduce this term to reflect the necessity of building wealth from the ground up. Furthermore, to emphasize that “wealth” is not only financial. When an engineer designed a house, for example, he/she would take into consideration all the aspects which would make that house livable and ready to become a home!

Another vital step in creating that architecture is to create a blueprint. Have you ever heard of any sort of construction that didn’t have a blueprint to start with, to build upon and use as a baseline?

A Wealth Making Architect (WMA™) is going to follow the path of his/her counterparts in other disciplines. However, instead of designing a brick and mortar dwelling, they design a life-long wealth making, growing, and maintaining epic, with the client being the hero.

And here’s a list of the steps involved:

Find out what the requirements really are: Working closely with your client, you set an objective to clearly “understand” the hopes, the dreams, the needs, and the responsibilities of that client. Once you’ve reached such understanding, you turn it into a set of specific, implementable”requirements”; one which the client accepts and feels satisfied with
Now you go to the drawing board and create a solution derived from the requirements. This is easier said than done. How can you “weave” requirements into solutions? Into a blueprint that has an eye on the vision, and another on the strategy and plan. Your knowledge and expertise play a major role here, and that involves specific methods, processes, products and/or services available. Sometimes you might need to seek help from other members of your organization/team to “develop” new products or services that would meet the requirements (those must prove reusable with other clients in order to justify the cost and time of a new development)
The next step is a comprehensive review of the solution with your client. Although you both had reached a set of specific requirements, the blueprint might not express what the client was hoping for. This could be the result of the client being not sufficiently informed/educated, or it could be a flaw in the design. Either way, a revision and an update version of the solution should be created. This can take more than one iteration
Once you reach an agreement with the client on the blueprint of his/her financial story, you start translating that solution into long-term and short-term objectives. Each objective requires an action plan. Here comes the knowledge and skill of financial planning, or let’s say, wealth-making planning; the bits and bytes of what needs to be done on a daily basis
Implementing the plans is not an open-ended endeavor. You wouldn’t hand them over to the client and “instruct” him/her to go ahead and “do” the steps! You still need to work with them regularly, and make sure they are ready to commit their time and energy to implementing what has been mutually agreed upon
As with any plan, the process continues dynamically. This is the tracking/observing, feedback, review and update/correction cycle. Plans are not meant to be set in stone. They must evolve in reflection to consistent change. However, a good architect would not divert too much from the original vision and the blueprint.

The past is gone for all of us. The future is known to none of us. All we’ve got is the present moment. Planning, to a great extent, is a matter of trying to predict the future based on past experiences. It helps, but nothing is certain. That’s why it’s a good practice to keep risk planning in sight, and always have plan B within reach!

The Wealth Maker

Are you ready to start?

Why do most dreamers end up at the nearside of their dreamland?

Why do only three percent of the population, or less, make it, financially?

Is it lack of knowledge or lack of courage?

Or is it a main effect (not a side-effect) of a widespread disease called: Perfectionism?

How much preparation does one need in order to start? And what kind of preparation is that?

We tend to fall prey to our own predictions! Our own procrastination, which is, oftentimes, an implicit result of our fears…

So, when do we start? At the onset of the dream, or when the dream starts vanishing!

When the dream is ripe; clear in your mind and soul, and you take one action, just one simple action, something remarkable happens!

Trouble? Challenges? You bet! Yet, you got a huge advantage there; the image is still vivid behind your eyes and between your ears. Sometimes it’s even pounding in your chest.

While challenges mount up the moment you start, your momentum has been set in motion. Just before that one action, you had been in total inertia. Your own dream had been weighing you down.

Never wait till your plans are perfect. They will never be.

Dream vividly, intend purposefully, plan carefully, yet, start taking actions now!

The process is not linear. Always balance out your preparation and your action energy, even if you have to juggle between the two. Actions give you valuable feedback on your plans, so you would revise and improve them. Plans, on the other hand, guide your actions, so you wouldn’t shoot in the dark!

The Wealth Maker

The Wealth Algorithm (10) – Plan B

What if you couldn’t secure the necessary funds to start your project, to reach your dream? Would you give up? I don’t think so. Having had a powerful intention, which you believe in; giving up, giving in, failure, whatever, are not part of your vocabulary, even when you talk to yourself (by the way, random, obsessive self-talk is destructive!).

If that was the case, the first step would be to revise your plan, especially the due date. Then, assuming you have a monthly income, before paying the bills, or buying anything, put 10% of that income aside. Open an investment account for that purpose, and deposit 10% of your monthly income in it, before you spend a dime.

Once your savings in that account reach $1000, start investing. Your target is to make 5% a month. Below is an example of how you would manage your investment account:

Month 10%Savings 5% Yield Monthly Total

1	200.00	0.00	200.00
2	200.00	0.00	400.00
3	200.00	0.00	600.00
4	200.00	0.00	800.00
5	200.00	0.00	1,000.00
6	200.00	50.00	1,250.00
7	200.00	62.50	1,512.50
8	200.00	75.63	1,788.13
9	200.00	89.41	2,077.53
10	200.00	103.88	2,381.41
11	200.00	119.07	2,700.48
12	200.00	135.02	3,035.50
13	200.00	151.78	3,387.28
14	200.00	169.36	3,756.64
15	200.00	187.83	4,144.47
16	200.00	207.22	4,551.70
17	200.00	227.58	4,979.28
18	200.00	248.96	5,428.25
19	200.00	271.41	5,899.66
20	200.00	294.98	6,394.64
21	200.00	319.73	6,914.37
22	200.00	345.72	7,460.09
23	200.00	373.00	8,033.10
24	200.00	401.65	8,634.75
25	200.00	431.74	9,266.49
26	200.00	463.32	9,929.81
27	200.00	496.49	10,626.30
28	200.00	531.32	11,357.62

Over a period of 28 months, and because of the power of compounding, your $200 monthly savings, have turned into $11,357.62!

Notice that you haven’t been withdrawing at all. Every month, you add the monthly savings (A), to the 5% yield on the previous month’s total (B), then to the previous month’s total (C). Or: A+B+C=D. The sum, (D), is reinvested again, and so on. Please spend some time studying the above table. As simple as it may look, it’s so powerful and effective.

Another observation is that the increase from one month to the next is exponential, not linear! Although your total is about 11K at the end of the 28th month, you don’t have to wait 2800 months to reach a million. You’re actually pretty close. You could find out by applying the above formula till the monthly total hits one million. If you did that, you would find out that you would need a total of 125 months. Or around 10 years.

The assumptions we made were conservative: A $2,000 monthly income and only 5% return. If either of these (or both) went up a little, the total number of months would decrease dramatically, again, because of the magic of compounding.

Now you have a backup plan to revert back to in case your original plan could not be implemented. As a matter of fact, you could go for plan B, even if plan A did work! Think about that…

The only challenge with plan B is the 5% monthly return. You might ask: How am I going to maintain such yield every month? What kind of investment am I supposed to use? You could either revisit the methods provided in this blog, or do further research. You will find what you’re looking for.

All the best,

The Wealth Maker

The Wealth Algorithm (9) – Conclusion

So far, we’ve covered two out of the four steps mentioned in article (6) of this series. Namely, the business plan and funding options and processes.

One quick note about the funding options presented in the last article. Most of those organizations are based in the US. They offer their “services” to US citizens or US permanent residents only. Before you start working with an online funding entity, please make sure it supports your country. The concept is fairly new. It might not be available everywhere. It’s starting to emerge in Canada as we speak, but it’s more established in the US so far.

Assuming you’ve found the right source of funding for your venture, and prepared your business plan, now you need to work with the funding institution to present the business plan and obtain the funds.

If you went the route of online funding, most of the work would be electronic: Emails, completing online forms and applications, and probably by the end, some phone conversations. Be prepared to answer a wide range of questions, including personal questions. To some extent, this process may be more demanding than job search.

As long as you clearly know what you want (your intention), and how to achieve it (your business plan), you’ve already covered more than half of the distance!

Keep in mind that funding organizations are business-oriented. They want to make sure that by investing in your idea and your plan, both parties would create a profitable business. This insight needs to be clear throughout your presentations. You are not asking for loans or charity. You are a business partner, who is ready to use the offered capital to generate a positive outcome for both parties.

Once a verbal agreement is reached, the details must be documented in an Investment Partnership (TM) Agreement (IPA). The IPA would become the “constitution” of the project. It specifies the objectives, the parties involved, the timelines, rights and responsibilities, the way profit and/or loss are shared, and so on.

Carefully read the agreement in full, and check if you agree on all its provisions, before you make any commitment. If something is ambiguous, or contrary to your original understanding, never hesitate to voice your concern, till you and the funding party reach a mutually agreed-upon formula. This is your right as a business partner..

Next, as you start receiving the funds, you begin executing your business and action plans, day in and day out, till you attain your clearly set intention, and successfully satisfy the terms of the IPA.

I’m not promising you that the road will be rosy all the way. There would be some challenges. Use your capacity and wisdom to convert those challenges into new opportunities. This is easier said than done. Deal with them, one by one, as, and if, they come.

All the best,

The Wealth Maker