David Finkel's Wealth Blog: February 2007

Monday, February 26, 2007

Free Ebooks for You!

Wealth and Real Estate Tips #30

Hi Everyone,

I hope the last week and a half since my last email have gone smooth for you. Heather and I have really been enjoying our time at home without travel.

I'm excited because in about 4 weeks (give or take a week or two) I get to share with you the new website Diane and I have been working on for the past half a year. It will be a definite bookmark for your old web browser!

This week I have a real treat for you—SEVEN FREE eBooks!

That's right, count them, seven.

Four are from me, and three are direct from Diane (make sure you thank her the next time you see her.)

The eBooks are:

eBook One: 21 Advanced Deal Structuring Strategies

eBook Two: 14 Advanced Negotiating Strategies

eBook Three: The Ten Deadly Deal Analysis Mistakes

eBook Four: How to Mastermind Your Way to Millions

eBook Five: 25 Tax Mistakes That Could Cost You An IRS Audit – and How to Avoid Them

eBook Six: Seven (or Fewer) Steps to Less Tax with a Real Estate IRA

eBook Seven: The TaxLoopholes Top 10: Ten Home Loopholes to Get More out of Your House

TO DOWNLOAD GO TO: www.taxloopholes.com/freeebooks

I hope you enjoy them.

Next week I'll share some key insights I've had from the purchase of four office buildings I closed on last month. Now I have some key announcements to share with you all.

The Maui Millionaire Book

For those of you who really want to understand what all the buzz about Maui is about, I strongly recommend you get a copy of, The Maui Millionaires. You can get it at your local bookstore or online at Amazon.

Remember, there is a special bonus for all book owners—The Maui Millionaires Wealth Mentorship Program™. A 90-Day online program that includes over 15 hours of workshops, interviews, and specific how-to help to apply the lessons and strategies of the book. Just use the special registration code inside the book on page 251 and go to www.mauimillionairesbook.com.

The Advanced Mini-Maui 202 —– Wealth Building Is a Team Sport

Take the next step in your wealth building by joining Diane and I for this advanced two day wealth workshop. Offered just once each year, each Advanced Mini-Maui will focus on a different theme and have brand new content. Each course will only be offered ONE TIME.

This year's theme will be, “Wealth Building Is a Team Sport”. We'll focus on ways you can gather around you the experts, mastermind partners, and team members you need to radically increase your wealth in safe, smart, and intelligent ways.

As with all the charity Mini-Maui events all the proceeds—gross not net—will go to charity.

This year you'll learn:

5 Ways to leverage your relationships to earn more money

The 6 experts you MUST have on your team (and exactly how to find them)

How to double your R-Score™ in 12 months or less by leveraging your efforts through effective partnering

How to avoid the 7 most costly mistakes the average entrepreneur or investor makes when partnering

How to leverage your business cash flow by tapping into the hidden opportunities in your rolodex

The 3 mastermind “power questions” to create breakthrough ideas

And much, much more!
We'll also do a special “hot seat” session where Diane and I will pull participants from audience up on stage to mastermind on their most pressing business or investing opportunity or challenge.

Plus, you'll have the chance to ask your toughest financial questions directly to Diane and I and our panel of experts during an open forum Q and A session.

To register just go to www.taxloopholes.com

I hope you enjoyed this week's letter and especially the seven free eBooks.

My very best to you,

David

P.S. Make sure you get your copy of, The Maui Millionaires, if you haven't already. Every reader gets a FREE $2,495 bonus pack with the book that they'll learn about on pages 251-254! Order your copy from Amazon today!

P.P.S. The link for the seven eBooks you can get the PDF's is http://www.taxloopholes.com/FreeEbooks.asp

Monday, February 12, 2007

Wealth Tip: Five Quick Ways to Boost Cash Flow with Better Billing Systems

Too many businesses struggle with cash flow problems because they have bills to pay but delay collections from clients for 60-90 days. Here are five quick ideas to improve your cash flow by upgrading your collection system.

1) Collect Up Front: Why wait to collect your money? How can you change your business process to get clients and customers to pay before your fulfill your product or service?

2) Collect Immediately Upon Fulfillment: Train your staff to immediately ask for and collect fees upon fulfillment. What systems would you need to implement this? Would you need to retrain your clients so that the expectation is for them to cut you a check or give you a credit card right away? Or better yet, to have a credit card or checking account on file for you to autobill upon fulfillment.

3) Send Out Your Invoice Immediately: If you need to invoice for later payment, don’t wait. Create the billing system so that your front line team invoice DAILY. The longer you wait the harder it is for you to collect.

4) Front Load You’re Accounts Receivables Collection Efforts: Most businesses wait until the A/R are 60-90 days late before stepping up the heat on the collections. This is not smart. Instead, front load the effort. Have a staff person call 3-5 days after sending out the invoice to “follow up” with the client. This is a great time to use a system (read script) to have this person ask for referrals, or upsell/crosssell to more business. This system(s) should make you a lot of money if you do it strategically.

5) Incentivize PRE-Payment: Can you get them to buy a month or quarter or year at a time? What bonus could you give them? What special offer could you make them? Ideally you will find a way to get a percentage of your clients to buy ahead of time in a way that benefits both of you.

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I hope you enjoyed this week’s tips. Again thank you to all of you who joined me in Vegas for the two workshops. It was such a great experience.

My very best to you,

David

P.S. Make sure you get your copy of, The Maui Millionaires, if you haven’t already. Every reader gets a FREE $2,495 bonus pack with the book that they’ll learn about on pages 251-254! Order your copy from Amazon today!

Tuesday, February 06, 2007

Wealth Tip: The Only “Client Satisfaction” Survey Question You’ll Ever Need to Ask

Hi Everyone,

I got home last Thursday from the two workshops in Las Vegas. They went incredibly well. The first of the two events – The Mini-Maui Wealth Weekend— was a success on several levels.

First, close to 350 people came together as a group to learn about the five core Maui Wealth Leverage Strategies (familiar to those of you who’ve read, The Maui Millionaires.) And if that wasn’t enough, including the tickets sold at the July Mini-Maui event for last week’s event, together we raised over $350,000 for 20 charities!

But for me the best part was that over 150 people who attended came because a Maui Mastermind™ or Mini-Maui graduate personally invited them. That felt so affirming to have that kind of trust. (Thank you everyone who invited guests to attend. It was the greatest compliment you could ever give to Diane and I.)

This week’s wealth tips are focused on business, whether your business be a real estate investing company, a retail store, a consulting firm, or any other business. Let’s dive right in…

The Only “Client Satisfaction” Survey Question You’ll Ever Need to Ask

I remember an article I read in Harvard Business Review that talked about measuring “client satisfaction.” The article discussed how many companies design elaborate scaling systems to keep an eye on this. But when you boil it down to its essence, the real test of a thrilled client is would they recommend a friend or family to your product or service if they were in the market for that product or service.

This question cuts through all the extras and goes straight to the core. If they believe you are the best value and serve them with the right level of integrity then they will answer that question yes.

If they answer that question no, you need to take a good hard look at how that interaction with that client went and see what you can do—systemically—to upgrade that experience for your clients.

Now maybe you don’t ask that question directly (although I think it’s appropriate to ask directly, and I have for several of my companies over the years.) You can watch your clients BEHAVIOR and find the same answer.

For example, when I see how many Maui graduates, whether they be of the Maui Mastermind event or of the Mini-Maui events, bringing friends and family with them to the event. Or when I see people buy a case of books to give out to friends, family, and work associates, that is feedback that Diane and I are doing something special.

I’ve had other businesses where our referral rates were dismal, and this forced me to take a good hard look at the way I structured the service I provided and make some deep changes.What about your business? How can you ask the key “rating” question?

That question again is, “If you had a friend or family member who was looking to buy _____insert your product or service___, would you recommend them to buy from us?”

Then just be open to learn from the honest feedback from your clients.

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Special Report on Tax Strategy

I’ve talked with Diane and she’s emailed me the ebook for you. I’ll get it up on the web so that by the next “Wealth Tips” I send you the link will be ready for you to enjoy the free gift.

Make sure to look for your next week’s “Wealth Tips” email.

The Maui Millionaire Book

For those of you who really want to understand what all the buzz about Maui is about, I strongly recommend you get a copy of, The Maui Millionaires. You can get it at your local bookstore or online at Amazon.

Remember, there is a special bonus for all book owners—The Maui Millionaires Wealth Mentorship Program™. A 90-Day online program that includes over 15 hours of workshops, interviews, and specific how-to help to apply the lessons and strategies of the book. Just use the special registration code inside the book on page 251 and go to www.mauimillionairesbook.com.

My very best to you,

David Finkel