Increase Your Financial IQ by Playing Cashflow–Game 5

Here’s the outcome of the fifth Cashflow game I played. I am pleased to say that I won the game by  accumulating $50,000 in monthly cash flow from purchasing businesses on the fast track. The entire game was completed in about 45 minutes, the same amount of time used to complete Game 4. However, I was not the first one to get out of the rat race; I was second. As I was playing this game, I made some interesting observations: Continue reading

My Lead Company–An In-Depth Review

Name:  My Lead Company                                                                      

Website: www.myleadcompany.com

Price: Varies–depends on # of leads purchased

Owner: J.R.  Jackson, Founder/CEO

 

For those of you who are in the network marketing/affiliate marketing business, or even a brick and mortar business, you need leads that convert to sales in order for that business to be successful. While the jury is still out on whether or not it is better to buy targeted leads, I will assume for the purposes of this post that you are interested in buying targeted leads. The purpose of this post is to inform you about one such company that I currently use called My Lead Company.  Continue reading

Buying Targeted Leads–Is It Really Necessary?

Every online business needs new customers or new leads in order to stay alive. However, the question is should leads be purchased or not? There seems to be no real consensus on this.  Some internet marketers will argue that buying targeted leads is essential in order to have a thriving business while others will argue against buying targeted leads because they rarely convert to sales.   Continue reading

Understanding Keyword Research Made Simple

Keyword research

Keyword research, keyword research….if you are involved with network marketing or have a website or online business, I’m sure that you’ve heard quite often that in order to get lots of traffic to your website, you have to know what keywords to use so that your posts or webpages get high ranking in Google. The higher the ranking your webpage is in Google, the more traffic will come to your webpage, and the more likely you will get sales as a result.

What is a Keyword?

A keyword is defined as a word or concept of great significance. It can also be thought of as either a word or a phrase that people put in a search engine to look for information. Keywords are basically words and phrases people use everyday. People do searches online everyday for just about anything you can imagine.

Why are keywords important?

Keywords are mainly important because:

  1. They help your webpage get high ranking in the search engines
  2. They help bring targeted traffic to your webpage, thus increasing your potential of making sales

 

What are the main problems people have with keywords?

1. Lack of understanding of how they work.   Many people have no clue on how to do keyword research, so they may write pages of good content, but the pages never get traffic because they lack the keywords that people are using in the search engines.

2. People do not know how to perform keyword research properly. This is most likely due to people perhaps not being trained on how to do the research. One of the biggest differences between successful network marketers and those who are not is that the successful marketers know to use keyword research effectively. These are the ones whose webpages are almost always ranked high–on page 1 of Google.

3.  People think that keyword research is too time-consuming.  If the assumption is that keyword research takes a long time to conduct, they will either not attempt it (and just hope that their websites will somehow get ranked in Google) or just do a haphazard search instead.

 

A Simple Approach to Beginning Keyword Research

When I first started writing posts for my blog, I had no understanding of what keywords were much less how to use them properly. However while searching for legitimate opportunities to make extra money online, I came across Wealthy Affiliate.com (my #1 recommendation) that helps people who want to make money online through blogging or through their websites. Click here to listen to a sample of one of the trainings provided by one of the site’s owners regarding using keywords.

I also would like to introduce you to a nifty little tool included in the Wealthy Affiliate site that simplifies keyword research–it’s called Jaaxy.  Jaaxy is a software that allows you to accomplish the following:

  • Niche research ( if you are unsure of what people are constantly searching for online)
  • Determine which niches are low competition vs. high competition
  • Find popular keywords that are used by people in the major search engines, such as Google and  Bing
  • Find keywords that convert to potential sales

Skeptical? Why don’t you see for yourself? You can open a free account which allows you up to 30 searches. If you find Jaaxy truly amazing, you can then upgrade to get full access for $19 per month.

If you for whatever reason do not want to open a free account at this time, I am giving you the opportunity to try out Jaaxy below:


 

In closing, I hope I have given you a clearer understanding about keywords in general as well as the importance of doing keyword research properly. Please feel free to leave your comments and/or questions and I will be happy to respond. Have a great day!

 

Deidre

 

 

The Cashflow Quadrant–An Honest Book Review

 

Have you ever wished that you can make money and achieve wealth like rich people do? If the answer is yes, then it is very important that you have a clear understanding of which quadrant you are starting from and what it takes to move into the quadrant where the rich reside.Robert T. Kiyosaki’s The Cashflow Quadrant, is the sequel to his first book, Rich Dad, Poor Dad.

In Rich Dad, Robert discussed the differences in philosophies between his real father and best friend’s father regarding money and finance and how they both influenced him and made him what he is today. You can read my Rich Dad book review here.

The Cashflow Quadrant, explains the 4 categories (quadrants)that people fit into based on how they earn money as well as their thoughts about finance. Robert states that it is possible to move from one quadrant to another. However in order to do so, a person must be willing to make the necessary lifestyle changes.

What are the 4 Quadrants?

 

Cashflow quad chart

 

E-employee

  • Has a job
  • Focused on job security and good benefits

S-self employed

  • Owns a job (like to”be their own boss”)
  • Value independence–don’t want or need supervision
  • Professionals–doctors, lawyers, plumbers, hair stylists

B-business owner

  • Owns a system
  • Employs others to run the system (business)

I-investor

  • Doesn’t work for money; money works for them
  • Use other people’s time (OPT) and other people’s money (OPM) to achieve wealth
  • Playground for the rich

The poor and middle class are mainly on the left side of the quadrant (E’s and S’s) while the rich are on the right side of the quadrant (B’s and I’s).

 

Which side of the quadrant is best?

 

According to Robert, it basically comes down to a choice between having job security and financial freedom. If job security is most important to you, then you’re most likely choosing to be on the left side of the quadrant–as an E or an S. If having financial freedom is most important to you however, then the right side of the quadrant– B and I is where you should be.  If you are currently unhappy being on the left side of the quadrant and wish to move over to the right side, there are some things you need to change.

 

How do you move from the left side to the right side of the quadrant?

1. Change your thinking and mindset.

  • What you say to yourself internally affects your actions and becomes your reality.

2. Try to make decisions based on logic rather than emotion.

  • For example, the making and losing of money is an emotional subject. In order to move forward towards the right side of the quadrant, Robert says that it is necessary to be emotionally neutral to winning and losing; it’s all part of the game.

3. Learn what you need to learn about money and finance and continue learning.

  • As you learn more, your financial intelligence will increase.

4. Take action on what you’ve learned. Don’t be afraid to make mistakes.

  • Robert says that making mistakes is oftentimes the best way of learning.
  • Take small steps when taking action. Think of the analogy “a baby must learn to crawl before he/she learns how to stand up and then walk”.

5. Believe in yourself that you can move from one quadrant to the other.

  • If you don’t believe in yourself, then why should anyone else?

 

Is reading The Cashflow Quadrant worth it?

 

I would say most definitely yes it is. If you are unhappy about where you are financially or how your life is currently going, you need to know exactly where you are and you have to decide where you want to go in the future. I think this book gives you a blueprint for

  • helping you determine where you are financially
  • identifying which paths are options for you to choose in shaping your financial future
  • identifying what things you need to change in order to make your financial future goals a reality

 

Actions I have taken since reading The Cashflow Quadrant

After having read this book, I took action and did the following:

1.       I took some real estate classes taught by Robert Kiyosaki’s Rich Dad Education series

2.      As a result of taking one of those classes, I entered into a lease option deal with a real estate entrepreneur who was into renting, rehabbing, and selling homes.  I was successful for a while, as the deal was providing me with positive cashflow every month. However, this deal fell apart later on because I made the mistake of not having the proper written contracts in place. The real estate entrepreneur suddenly without warning, closed up his company (or reorganized under another name) and just stopped paying me. At the time I did not the money to take legal action against him. This was a painful lesson in experience ( I lost money) but it was a good lesson in that I learned what not to do if the situation should arise the next time. I would not have learned this if I had not made the lease option deal in the first place.

3.     Made the conscious decision to seriously pursue affiliate marketing. I decided to do this because affiliate marketing would give me the best way to learn the ropes and make money at the same time. If you are also interested in getting involved with affiliate marketing, you can take a look at my #1 recommendation.

 

I hope I have helped you decide to read The Cashflow Quadrant. Now that the new year 2015 is approaching , this would be the perfect time to assess your life and how you want your future to unfold. Feel free to share this post with others who may be interested.

As always, if you have questions or comments I will be happy to help.

Deidre

 

Playing Cashflow–Lessons Learned–Game 3

Here’s the outcome of the third Cashflow game I played.  It took me an hour to get out of the rat race, but this time, I won the game. Hooray!

Game Three (Using the electronic version with 2 computer opponents)  

     

My Occupation: Airline Pilot

Opponents’ Professions: Janitor and Firefighter

Winner:  1st place: Airline Pilot (me)

2nd place: Janitor

3rd place: Firefighter

Lessons Learned-How I Won

As I was playing this game, I made some interesting observations:

  • My profession as an airline pilot has the largest amount of expenses and debt. Nevertheless, I was able to use debt to acquire more properties and businesses that provided a lot of cashflow.

 

  • I now understand what  Robert Kiyosaki meant when he mentioned in his book  how his rich dad taught him that the way to achieve wealth is by playing Monopoly in real life. In other words, buy 4 green houses and trade them in for 1 red hotel. Instead of green houses and red hotels, I bought 3Br/2Ba houses and duplexes with small cashflow amounts and  traded them in for businesses and an apartment building that had large cashflow amounts. This allowed me to accumulate enough passive income to get out of the rat race in a relatively short amount of time.

 

  • Ironically, the janitor got out of the rat race first. However, she was unable to acquire enough businesses on the fast track because she kept losing all her cash by landing on “divorce” and “tax audit”.

 

  • The janitor’s inability to buy businesses due to lack of cash gave me the opportunity get onto the fast track and land on my dream (African Safari) and win the game.

 

  • The more I play this game, I noticed that sometimes things don’t always turn out the way you think. For example, I thought that the janitor would eventually win the game because she got out of the rat race and onto the fast track first. Who would have thought that she would run into some obstacles (through the roll of the dice) that prevented her from winning? That’s just how life is–unpredictable.

 

This is not the first time I have played Cashflow as an airline pilot. However, this is the first time I have won. I did not think it was possible prior to this game because the pilot has a lot of debt and liabilities, such as taxes, child expenses, and credit card debt. Besides, my financial IQ was not as high then as it is now. I think the best strategy of getting out of the rat race for anyone who has the airline pilot as a profession should use other people’s money (bank loans) as leverage to buy properties that provide cashflow. When the opportunity arises (using the market cards), sell the properties and use the remaining cash to pay off the bad debt and purchase more properties.

It is my hope that I have piqued your interest to perhaps play Cashflow and see for yourself what I’m talking about.  The Cashflow game is designed to teach those who play it the lessons and principles taught in the book Rich Dad, Poor Dad

I welcome your comments or thoughts about playing this game. If you are interested in learning how to be successful in either making money online and/or owning a business, then you must increase your financial IQ and also learn the basics of running a business the right way. Click here to find out how you can learn the basics for free.

Have a great day,

Deidre

Playing Cashflow–Lessons Learned–Game 2

Here’s the outcome of the second Cashflow game I played. I lost, but I learned valuable lessons that will help me as well as you get out of the rat race faster the next time.

Game Two (Using the electronic version with 2 computer opponents)            

My Occupation: Firefighter

Opponents’ Professions: Teacher and Doctor

Winner:  1st place:Doctor (she was able to meet her passive income goal)

2nd place: Firefighter (me)

3rd place: Teacher

Lessons Learned–Why I Lost

Even though I was the first to get out of the rat race (it took me only 45 minutes to do so) I ran into some setbacks that cost me.

  1. The roll of the dice made me overshoot my dream; therefore, I was unable to purchase my dream despite having more than enough money to do so. In real life, sometimes it just comes down to a matter of timing (a roll of the dice) whether or not you are presented with a great opportunity.
  2. In fact, this roll of the dice made me land on “divorce” and I lost all my cash.
  3. I could not recover in time before the doctor was able to spend $300,000 to strike it rich on the Russian Oil Deal.

    Russian Oil Deal

    Would you take a chance on this?

  4. Basically, the doctor gambled and got lucky (she rolled higher than 4 on one die) which gave her $75,000/month in passive income. That made her meet her passive income goal to win the game.
  5. In retrospect, the doctor gambled (took a chance) on an opportunity and it paid off. How many times have you “gambled” on something and it either works out or doesn’t? Either way, it’s a 50/50 chance. This is a prime example of how life in general can be.

Even though I lost this game, I am proud of the fact that I played much better this time than in Game One. I was better able to spot good deals and take advantage of them. I also lowered my expenses by paying off bad debt whenever I had the chance. This has contributed to me getting out of the rat race quickly–in  just 45 minutes. I have played games in the past where it has taken me an hour (or more) to accomplish this. I will challenge myself to see if I can get out of the rat race again in less than 45 minutes. If I can do this consistently, then I will say that my financial IQ has increased.

Until the next time,

Deidre

 

 

Lessons I Learn by Playing Cashflow

 

 

CASHFLOW 101

If you are wondering what it’s like playing Robert Kiyosaki’s Cashflow game, I thought I would give you a taste by describing the outcome of each game I play against computer opponents. I have to tell you that sometimes (or OK several times, lol) the computer opponents have beaten me.  It’s not something that I’m particularly proud of, but it just proves that I have to get better by increasing my financial IQ. Even Robert says that “the more you play the game, the richer you’ll become”.  If you are playing Cashflow on a regular basis, I would like you to join me in discussing the following:

  1. how you like the game
  2. how often you play
  3. what are you learning from each game played
  4. anything else about Cashflow in general

 

My goal is to learn how to get out of the rat race (and stay out of it) by increasing my financial IQ. It is my hope that people will comment and provide feedback about their experiences as well.With feedback and dialogue, we can learn from and help each other. For more info about the game Cashflow, click here

Game One (Using the electronic version with 2 computer opponents)

My Occupation: Airline Pilot

Opponents’ Profession: Janitor and Police Officer

Winner:  1st place: Police Officer (he was able to get on the fast track and purchase his dream)

2nd place: Janitor

3rd place: Airline Pilot

Lessons Learned–Why I Lost

  1. I was hesitant to take out bank loans to purchase property that I knew were good deals
  2. Instead of focusing on buying properties with positive cash flow, I focused on trying to raise money by selling the opportunity to another player via auction or fixed price. I sold 3 opportunities to the airline pilot. In hindsight, I just helped him get out of the rat race faster instead of helping myself.
  3. Fear of being downsized and not being able to pay my expenses
  4. Did not recognize a good deal when I had the opportunity to buy it. For instance, I sold the following card to the police officer:

Good Deal or Bad Deal?

I sold this deal to my opponent because even though the down payment was $0, the cashflow was -$100. At the time I thought that this was a disadvantage because the negative cashflow was taking money out of my pocket. However, my opponent thought that it was a great deal because he accepted my auction price of $800 for it. Less than 10 minutes later, he was able to sell it via a market card for $135,000. The remaining money after the mortgage was paid off enabled him to purchase a big deal and thus enter the fast track.

After the game was over, I realized that both of my opponents used the same strategy: buy property using bank loans and then trading them in when an opportunity arose in the market to sell. The entire game took 25 minutes from start to finish. My goal is to be able to get out of the rat race and get on the fast track to win the game in a short space of time.

I welcome any comments, suggestions, or questions in regards to playing the Cashflow game. Remember Robert’s quote,”The more you play this game, the richer you become”.

Wishing you success,

Deidre