 | | |
| The Millionaire Maker's Guide to Creating a Cash Machine for Life | 
 enlarge | Author: Loral Langemeier
Publisher: McGraw-Hill
Category: Book
List Price: $24.95
Buy New: $5.94
You Save: $19.01 (76%)
Buy New/Used from $5.94
Avg. Customer Rating:  (12 reviews)
Sales Rank: 26767
Languages: English (Original Language), English (Unknown), English (Published)
Media: Hardcover
Edition: 1
Number Of Items: 1
Pages: 240
Shipping Weight (lbs): 1.7
Dimensions (in): 9 x 6.2 x 1
ISBN: 0071484736
Dewey Decimal Number: 332.02401
EAN: 9780071484732
ASIN: 0071484736
Publication Date: April 24, 2007
Availability: Usually ships in 1-2 business days
|
| Editorial Reviews:
Product Description
Loral Langemeier first introduced her exclusive Wealth Cycle system in the national bestseller The Millionaire Maker. Now, in The Millionaire Maker's Guide to Creating a Cash Machine for Life, she reveals how you can learn to earn more money by building a viable business. The Cash Machine is simple to start and sustain. You'll use skills you already possess and build a reliable team to help. Whether you want to partner with others or create your own team to start, fix, or buy a business, Langemeier shows you how to turn it into a Cash Machine that makes money from Day One. This book delivers a step-by-step action plan for starting up your Cash Machine, helping you to - Identify your personal skill set
- Brainstorm a business idea and model it after a similar venture
- Test the sales potential
- Create a Cash Machine Plan
- Build and manage your team
- Develop short- and long-term marketing strategies
- Grow your business-and make more money!
Langemeier gets you up to speed on marketing, sales, operations, finance, and management to keep your business operating effectively. She also shares instructive and inspiring real-life examples of successful Cash Machines and explains how to use profits to fuel the Wealth Cycle. In order to be truly wealthy, you need more than a 9-to-5 salary and investments: you need a Cash Machine. The Millionaire Maker's Guide to Creating a Cash Machine for Life gives you the necessary tools to begin your journey to a lifetime of financial happiness-today!
|
| Customer Reviews: Read 7 more reviews...
 A "Do It Now" book ! December 15, 2008
Loral Langemeier's book delivers a step by step action plan for starting
a Cash Machine. Applicable informations are shared.
A must-read for every entrepreneur August 22, 2008
The only criticism I could have for this book is that Loral way oversimplifies - but I know that she is smart and does it on purpose! Her aim is to get you STARTED, not getting bogged down by planning every detail.
Loral's #1 impact on me has been to do the math. It sounds so obvious, but I did not always have it clearly laid out in my business. If you want to make this much a year here's how much you need per month, per day, per project. DUH! There is no rocket science in here, just a clear plan that encourages you to get going with your business.
I also love that Loral encourages everyone to aim high. She says your starting goal should be 100k a year. There is no downside to thinking big so why not? You are going to go for and get more money if you're aim for 100k a year instead of just 1k a month the way many businesses start.
A good basic plan for using a proven profitable model to add income February 16, 2008
9 out of 9 found this review helpful
You have probably heard Loral Langemeier's ads on the radio, I know that I have started noticing them after having read this book. Her big concept is the Wealth Cycle and this book deals with creating a part of it. A Cash Machine is a PROFITABLE business you can set up easily, quickly, and uses expertise you already have. She emphasizes that a Cash Machine is probably not going to be your dream job and should never be a project.
I really enjoy the way she helps you identify your skills, the people and skill sets you should team up with, and how you can evaluate the "right" Cash Machine for you and your circumstances. The foundation of the whole idea is that your Cash Machine should not consume your life, but contribute to the quantity of your cash flow.
Langemeier is also great in helping you think through the questions you must answer before you take the plunge and what to think about after you are in the pool. What she is not very forthcoming about is what you should do when things don't go as planned. Maybe she just thinks you will be smart enough to get yourself out of it quickly. However, too many new business owners are awfully optimistic in their assumptions, in the contracts and leases the sign, and how far their available cash can really take them. Sure, she is wise in the advice she gives you in the up front planning, but from my view of things she is a bit light on how to open the canopy and pull the ripcord.
Maybe one reason she doesn't emphasize that is that one of the core ideas of the Cash Machine is that you are not trying to be a pioneer. You are going to use, copy, buy, or rent an existing successful business model for your Cash Machine. And that makes real sense. However, even some of the best ideas have wrinkles that sometimes trip up the owner new to the world of running a business.
Still, I like her ideas very much and think it a useful guide for those that want to add some income streams to their Wealth Cycle. Just be sure you have enough time in your day to provide the attention every business, especially new businesses need to become successful. If you don't know the basics of running a business you will need to get that, but you can take a couple of courses at your local community college quite inexpensively and get what you need to know.
Useful book for the right people. However, I suspect that this book is really more of a come on for her seminars and such. But if you are going to buy a car wash or a franchise of some type, this book will help you think through the right things as you look at the opportunities you are considering. I can't imagine what her costly seminars would really add, but I am sure she can fill in the interested.
Reviewed by Craig Matteson, Ann Arbor, MI
 Preys on the corporate type January 25, 2008
20 out of 21 found this review helpful
Loral Langemeier has some good ideas. Start a business that can make you money now, today! Most people want to start a business and they make it too complicated for significance. She wants you to start a business that can make money ASAP so it will work. She says if you know how to sew then start taking orders taking for sewing. Don't start a new business that you are not familiar with. This is not the sexy but it comes from her farming background.
This is the foundation of her book and the $2,000 seminar I went to that went along with it. She says it herself that her books are brochures. There is really no other major substance here. The books misleads you to think this is something " new and different", that she will take you by the hand and make you rich.
If you want to save two hours reading, $20 for the book, $2,000 for the seminar ( which offers the same info, start what you know, now), $1200 for the hotels, $300 for airfare, $200 for misc expenses and $300 for the rental car just then start your idea now.
When you go to the seminar she wants you to sign up for her " Big Table ". This is where you do deals with like minded people for somewhere in the nature of $12k to join. Or they urge to sign up for coaching for $7k or so lasting 10-12 phone calls. Some deals have gone really sour from this. Everything is about relationships. Spend $1k and start a first class local group of like minded people instead. This way you can build trust and have a local knowledge of your investments.
To sum it up in another way they are a business. She is very smart. I say it's better to find a way to replicate her model more ethically for billions not millions.
Mostly motivational September 23, 2007
2 out of 4 found this review helpful
I never heard of Langemeier until a few weeks ago when my wife saw her on a panel of mostly investment people on CNBC. The other 4 panelists focused on living below your means (being frugal) and then being able to save and invest in stocks, stock mutual funds, or real estate. Langemeier answered an audience question and basically said, "forget about the negative aspects of being frugal and not spending money, instead start your own business and make enough money so that you can spend money".
Out of curiosity, I picked up her book. I plan on starting my own business when I retire from my first job in a few years, so reading a book about starting businesses would not be a total waste.
Langemeier's approach seems to be to recommend that people start up a business very quickly in an area they know something about.......to get their feet wet.....and then learn more about running the business as it matures.
I can't really quarrel with her recommendations. She does discuss an issue I was already aware of.....do you want a business in which you must work at every day.......or do you want a business that does not require your 24x7 attention.....meaning you can expand the business easily.
My only observation is that Langemeier focuses on sales dollars......with very little focus on profitability. We all know the saying that nothing happens until the cash register rings....but why pick a business with low profitability versus higher profitability potential? Maybe her approach is designed to motivate you to get into a business first...and as long as you don't lose money......you will quickly learn about the profitability measurement......so your next businesses have more profit potential.
There is nothing new about her approaches. The principal value of her book would be to help motivate people to start their own businesses.
Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pro's
The Richest Man in Babylon
Bogle on Mutual Funds: New Perspectives for the Intelligent Investor
The Millionaire Next Door
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition
The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On With Your Life
The Bogleheads' Guide to Investing
|
|
|
Powered by Associate-O-Matic
| | |