I remember the first day I met my first mentor, Seamus O’Rourke, nearly forty years ago. I had seven motorcycle shops and two furniture shops and had massively over expanded and he could see I was in trouble and carrying the weight of the world on my shoulders. We talked things through and he gave me a concrete action plan to get back into profit – quickly. I agreed a massive cost cutting exercise with him, then I asked when we should begin to implement the plan. I don’t know why, but I had in mind next month or perhaps the month after but his response stunned me. “We start now, immediately, if not sooner”, and with that we jumped in a car and drove to each shop with Seamus in his famous “hatchet-man” man mode.

I was very nervous as I introduced Seamus to each manager, but he took great pains to establish a rapport with each of them in the shortest space of time, but then immediately got to the core of the problem; that if we didn’t carry out a dramatic cost cutting exercise we simply weren’t going to survive. We then got each manager so sign up to a commission only deal whereby they got a split of the profits made from repairs and bike sales. Wherever we could we would see the landlord of each shop and re-negotiated the rent – downwards.

I was amazed at how receptive they were once they realized we were serous about slashing our overheads. When we couldn’t get a substantial reduction we searched out cheaper premises and moved very quickly. Seamus taught me that overheads have legs and wherever we could, we’d get rid of staff who weren’t paying their way or get them to work on commission only. Failing that we would get rid of them. This really turned out to be the longest, most uncomfortable day of my life but by the end of it, like Seamus promised, I started to breathe freer.

We also looked at all ways of slashing utility bills, insurance, magazine subscriptions, window cleaners, (and anything that we could do ourselves) anything where that was an outgoing expense came under the scrutiny Seamus massive magnifying glass and sharp pencil. I have mentioned about five items here, but in reality there were literally dozens of expenses that got the chop, some small other large. This day I learned about massive immediate action, no-sentiment and doing the right thing. The very next day we started to activate many different ways to make the shops more profitable, see yesterdays blog for a few of them.

Margin! Margin! Margin! As a young entrepreneur I was fortunate enough to be taken under the wing of an astute old Irishman by the name of Seamus O’Rourke. I mention him in all my books, he was my first mentor. He taught me, among many other things, about margin. Prior to that I was clueless. I will now share a few things with you, that perhaps will stay with you for the next forty years! When you buy a product for $10 and double the price of it most people will immediately say that is 100% profit. That’s not quite right. When you add $10 on the price and then you eventually sell the product, what comes back to you is $20 – 50% was the cost price and only 50% was gross margin. Don’t forget out of the gross profit margin must come a proportion of your overheads, wages, salaries, rent, business rates and all other expenses. If you buy a product for $10 and add $5 (which many retailers do), when you sell it, you get $15 back, ergo $10 was the cost price and $5 was gross profit, so that is only 33% gross profit margin.

 Seamus quickly moved the conversation along. When you buy a product and then sell it most people will say the gross profit (before you take out overheads) is the difference between the buying price and the selling price. Again, this is not quite true. Profit is the difference between buying price and the REPLACEMENT price. For example: you buy a small gold bar for $1000 and sell it for $1350 you may consider the profit was $350. BUT, if you then go to your supplier and he charges you $1350 for the new gold bar stock, your profit has been effectively wiped out. This is of particular concern in times of high inflation, recession and unstable economies and this one point alone is wiping thousands of businesses of the face of the earth! And on top of product price increases, don’t forget postage, utilities, fuel, salaries, rent, taxes have all seen massive hikes and those increases are eating into your margins – dramatically.

 When I had my motorcycle shops in the early seventies, Seamus pointed out something that turned our lives around. He showed me that when we sold new motorcycles we made 17% profit, but on used motorcycles we made 117% profit so we stopped selling new motorcycles overnight and went from strength to financial strength. He then pointed out that when we broke up crashed motorcycles and sold off all the parts as used spares, we made 1117% profit. Needless to say, that’s what we concentrated on and ended up with the largest bike wreckers in the country. These days I urge young and old entrepreneurs alike, to concentrate on products and services that have huge margins.

My following has come to expect money-making gems everyday but I have made a decision to gear up even more and give you even bigger leverage…so here goes. I am going to give the farm away yet again, and for the next thirty days you can hear me squeal like a goose, so here’s a real gem for you: Over the coming years you’ll meet all sorts of people who will ‘talk the talk’ and convince you that they are the right ones to do your PR, web building or design, marketing, sales or some other service. You’ll no doubt sign them up, give them an advance and pay them month after month. Most times you’re going to end up bitterly disappointed! Why? Simply because most people can ‘talk the talk’ – very few, perhaps one in a hundred, (if you’re lucky!)  can and will actually deliver.

So just how can you build your business, prosper and save yourself heartache and frustration? Well, you can, but it isn’t simple, so here’s my best shot, based on over forty-years of experience in the field, dealing with lots of ‘talkers’ and a few actual ‘doers.’ Even if someone sounds really good, it still pays to have a colleague in the room with you listening to the sales pitch so that the two of you can decide how realistic the proposal is, then try to talk to at least three people who they have performed their miracles for in the past. Drill down on these previous clients and get to the bottom of what was really delivered and what wasn’t.

Don’t forget if they fail to deliver, the excuses you’ll get will be just as exotic as the sales pitch you received in the first place, maybe even more so. Unfortunately you can’t build a business based on excuses, not even exotic ones – only demonstrable results.  Try to get warm introductions from your own business associates who you trust and have known for years and get them to introduce you to people who really can deliver. Realize that some things do take a time to build up, like PR, stuffing sales funnels and leads times so don’t confuse your misunderstanding of business time frames with the lack of someone else’s performance.

Get a one page agreement in writing, as to what they get paid and what you can realistically expect in return for your money. In that agreement, try to capture all the promises and inferences that went down in the ‘talk of talks’ sales pitch to you. Cover off lead times and times frames in the agreement. Enter into the agreement with your eyes wide open – most people don’t. Have a weasel clause so you can escape and stop paying if you’re not getting the required results, so you can get on with your life, get shot of the ‘talker’ and tie up with a ‘doer. Sometimes you have to kiss many frogs to find the princess and once you do – marry her! (or him!)

 More ways to make money than you can poke a stick!

Tired of the get rich quick schemes? Fed up with empty promises that seem to good to be true? Are you looking for ways to make money that are within your grasp? Great! Read on…

Here’s a story about ways to make money that I hope inspires you…

Neal know lots of ways to make money!

Neal, who I have known for a number of years relishes in his multiple streams of income and he’s looking for more. His main bag is that for a few hours a week he repairs people’s baths; re-enamels them and refurbishes like new. Incidentally Neal paid to learn this skill – as he perceived it would be more lucrative than carpet fitting, his line previous line of work. He averages around five a week without really trying and this brings a good cash flow; and he’s never looked back. The main point it leaves plenty of free time for other activities. He has a number of income properties that he rents out and when the mortgages are paid there is even a little pocket money left over. Early morning and late evening he spends an hour or two spread betting and is making small profits. Neal is now concentrating on Internet related opportunities and he has developed some specific computer skills and aptitude relating to this. It comes as a second nature to Neal, so I’m pretty sure he’ll do he’ll when he finds the right niche. Neal knows what he is looking for and that is a killer app that he a roll out in a big way…and make his home run – $500,000 to $1,000,000.

Here’s a few more hot tips to stimulate your biocomputer …

Ways to make money include retailing. Good old fashioned retail is a good way to make money and is often overhead by the Internet. You can often get started with a few months rent. If you have no capital you can often initial stock flooding in on credit or approval from lots of different suppliers.

Ways to make money include service industries. If you have skill or energy you may try carpentry, odd jobs, lawn moving, car cleaning, house and office cleaning. Can you repair cars, bikes, computers? You may even have industry specific skills that you had forgotten all about? What can you do, to serve others?

Ways to make money include teaching and training. You may consider teaching the piano or some other musical instrument. What about teaching software and computer skills. How about training people how to become bookkeepers, consultants, or even public speakers. There are lots of ways to make money. Consider all the options and expand your horizon!

Ways to make money include driving. Ever considered becoming a cab driver or delivery person? Set up a special delivery service especially for highly fragile or perishable goods. This is an idea you can really drive!

Ways to make money include telesales. So many products are still sold over the phone and often from the comfort of your own home. Insurance, bonds, vacations, time-share, proportional ownerships, advertising space are just a few ideas. What are you waiting for!

Ways to make money include the second hand business. I love this one having made my first fortune from selling second-hand motorcycles. The list is endless: Furniture, computers, coins, machinery, tools, stamps, bicycles, property, yachts and cars to name a few. What are you passionate about? Answer that – and get cracking!

Become a millionaire fast, I knew that would grab your attention. So you want to become a millionaire fast do you? Well are your programmed to become a millionaire fast because if you are not you are wasting your time!

 Visualization is one of the key factors how to become a millionaire fast. The most important thing to remember is that you must actually create the picture that you are visualizing in the electro chemicals in the neurons. Remember that the pictures dominate everything we do in our lives. It helps to look upwards when visualizing so you can access the visual mode. Once you have discovered visualization, use it on a daily basis. Try to use it at every possible opportunity because it will help you bring about a flow of ideas, hunches and solution into your life. It’s what I call harnessing the ‘Inner Wizard’

 Now here’s a few more tips of how to become a millionaire fast…Become a Millionaire fast by starting your own Internet business. This is the #1 method to becoming a millionaire. The Internet allows you to operate a global business 24-7-365 overnight, and that’s powerful.

Become a Millionaire fast by buying shares in high-tec start-up companies a year or two before they IPO. Become a Millionaire fast by building a property portfolio and leveraging its growth. Become a Millionaire fast by developing Multiple Streams of Income that all have synergies with each other.

Become a Millionaire fast developing products, ideas and patents that are commercially viable and can be sold to the highest bidder. Become a Millionaire fast studying and following trends in a sector that you know something about and then coming out with the ‘next big thing’ before anyone else.

Become a Millionaire fast joining an affiliate program where there products are world class and there is a massive global demand for them. Mine perhaps?! Become a Millionaire fast by taking 1% or 2% off the top of massive or multiple transactions. Become a Millionaire fast by selling Any high ticket item that runs into million and that you can earn a commission on for bringing buyer and seller together.

Vast commercial properties, oil wells, tract of land, super yachts and airplanes spring to mind but the list is really endless. Become a Millionaire fast by learning even more about mind power and visualization. This is the vital key point and I have helped create numerous millionaires over the years, mostly by giving people a paradigm shift in the way they think.

 Have you longed for a second income and have you wanted to increase your disposable income? Well for many a second income is the norm. Do you want to know how to go about creating a second income?  Well, let’s get started…

 Generate a Second Income by Moonlighting. Start a second job such pumping gas, serving in a store, waitressing, window cleaning, gardening and yard work.

Generate a Second Income by Building a property portfolio and living on the rental income after the mortgages have been paid or rent out a room in your house.

Generate a Second Income by offering a virtual assistant service. You can answer phones, write letters and handle correspondence all for your computer based at home.

Generate a Second Income by buying and selling on eBay. Thousands are already doing this and with a few hours diligent work every day serious levels of income can be attained. If you Google you will also find hundreds of useful tips for making money on eBay.

Generate a Second Income by dealing in collectables. This is great fun and a good way of generating money  at the same time. Thing likes bears, coins, postage stamps, memorabilia, militaria, first edition books, thimbles, cigarette cards all fall into the category. Go where you can unleash your passion.

Generate a Second Income by helping someone with their business. Go in as a salesman, marketer, admin person, bookkeeper or  By adding value to their business you will earn a good second income for yourself.

Generate a Second Income by setting yourself up a design agency. If you have a flair with design, color, packaging and branding you’ll be surprised how many small business will happily pay for this service.

Generate a Second Income by starting a silver and gold plating service. On of my client did just that and made a profit in his first week, he’s never looked back. Shop around because kits vary in price and you can always start cheap and upgrade  as work and profits floods in. Many be customers want part of cars, bikes, musical instruments and militaria gold plated and you can charges and premium amount for this service.

Generate a Second Income by researching your own neighborhood and finding out what others are doing to make money. Often all the brain needs is  a stimulation. Then  spring into action. Action is the key to the brains ignition!

Generate a Second Income by getting your mind working like a computer and turning out money making ideas by the dozen. I have helped create many millionaires over the years…mostly by giving folk a paradigm shift!

This FREE report was brought to you courtesy of Ron G Holland – Top Biz Guru and www.wealth.co.uk You wouldn’t be reading this article if you were not keen on learning how to become a multi millionaire.  In the western world a million simply isn’t enough – is it?!  Over the years I have helped create many millionaires and a few of them went on to become multi millionaires. They all used their own formulas, but all had traits in common.

How to become a multi millionaire  by replication and organic growth. People often start a business and over a period of time build it into a substantial size company that be either create huge profits or be sold to an acquiring group or floated on a stock exchange. Once you have discovered your own success formula you need to keep repeating it!

 How to become a multi millionaire  by acquisition. Many business people have created fortunes by consolidating fragmented cottage industries. I created a mini empire by acquiring lots of motorcycle shops. Can you think of an industry where you would like to start buying out other businesses?

 How to become a multi millionaire  by franchising. If you have a business that is making a profit some time you can use that model as a pilot and get other people (franchisees) to buy the marketing and sales rights to emulate what you are doing. As well as paying an upfront fee you can also expect to attract royalties that are paid to you on all sales.

 How to become a multi millionaire  by visualization. If you can see it you can be it! If you see it you can have it! If you can see it you can own it! Visualization is one of the most powerful tools around if you’re serious about becoming a multi millionaire.

How to become a multi millionaire  by strategic investing. If have see numerous people become millionaires by either investing in property and rent them out and over period building a huge portfolio. I have seen others do the same on the stock markets and traded themselves into a fortune. Horse for courses! Where’s your bent?

 How to become a multi millionaire  by building equity in your company. As you building a business it pays to look at what you are going to sell it for and to whom, every step of the way. By doing this you can groom the business for a successful trade sale. Most people don’t! On retirement thousands of business owners just close the doors and walk away – usually penniless!

 How to become a multi millionaire  by acquiring lots of share options in lot of companies. You can do this by joining early stage companies and adding your expertise. You can raise the finance for them and get shares as part of the success fee. Or you can buy a big portfolio of cheap shares in start-up and wait for them to IPO.

How to become a multi millionaire  by developing your mind power. Set goals and achieve goals, visualize and increase your mind power by setting up a mastermind group.

This FREE report is brought to you courtesy of Ron G Holland and wealth.co.uk  If you want to make 2010 your best year yet, talk to me about my bespoke mentoring service. Extreme Implementation will turn your business around! Call me direct on  0208 613 0251.

This FREE report was brought to you courtesy of Ron G Holland and www.wealth.co.uk Now is the time to Become Rich, and wealth management will get you there!! Is that your life’s ambition, to become rich? Does the prospect drive you day and night?  Do you dream of the day you become rich? Do you talk in the language of ‘when I become rich and wealth management’? Is so, join the club and make it happen for real.

Become rich by starting your own business. This is vital and even if you have no capital or other resources it’s something you must do. If you’re interested in wealth management this is some you must do! Become rich by selling services or ideas. If you have no capital, start by offering a service you can sell for money. Gardening, car washing, house and office cleaning. Labor intensive businesses and service industries bring big regards. Become rich by finding a need and filling it. Drive around your local neighborhood and see what others are doing to make money or try to spot a niche for yourself that is not filled…then jump in. Action is the key to the brains ignition and to wealth management!

Become rich in selling. So many salespeople make huge fortune selling. You can even become a tele-salesman and operate from home. Become rich by being a broker. Start putting buyers and sellers together for big ticket items such as commercial real estate, yachts, airplanes, land. When you sell something for a million plus you don’t need to sell too many to become rich even, if you only 2% or 3%. Become rich by building your own property portfolio. I have many client I advise in the industry and lots of them started with absolutely nothing.

Become rich by collecting antiques, old oil paintings, memorabilia, collectables and stamps and coins. And have a lot of fun in the process! Become rich by building your burning desire to become rich even more than it is now. Small desires bring small results big desires bring massive results! Become rich by stoking up on self-help and personal development and learning much more about multiple streams of income. You only need one great idea of something that you really can do and deliver on to become rich.

Become rich by getting your brain (your inner wizard) fired up and working like a computer. The key to this is goal setting, meditation and visualization. Once you have the creativity flowing, you’ll be getting money-making ideas by the bucketful. I can hear the sound of Ker-ching! from here. Wealth management has paid dividends. It always does!