Review: Dr John Demartini Wealth Seminar 23/3/11 - Awesome!
For those of you who wanted to go to Demartini's wealth seminar, or keen to know about it, I decided to do a review because it helped so much and I don't want to forget it. I learnt soooo much! He's way better than I thought, I am definitely going to learn more of his work and probably go to his full breakthrough event. If I learnt that in 2 hours, wow, two days! Amazing.
Ok here we go, brilliant stuff, hope I remember most of it but it's so so good for any of you who want more wealth, security or help with money.
Firstly, the very first thing he told us to make very clear.... is that we all have wealth. We are all BILLIONAIRES already.... because there is something in our life that we would not give up for a billion dollars if someone was to offer. For many mothers, it's their children. For some it might be their spirituality. Maybe their body, business.... but we all have that one thing. And the thing is, this defines how we spend our money. Say you are a mother who has her children as her wealth - she will spend things first on their health, clothing, shoes, education etc. Then comes everything else after it - lifestyle, herself, bills, then save whats left. He also said poor people spend money on things that depreciate, like more furniture, big screen tvs etc (which is even worse when you put these things on credit cards and loans etc as you get interest on top of depreciation!), when wealthy people spend more on things that increase in value, they invest.
But the thing is, those who are very wealthy, the 2-3% of us who truly experience financial freedom (and he has interviewed countless billionaires, as well as families in very poor countries who survive off $200 a year, even with big families) do the exact opposite. They save FIRST. They pay themselves first, then business/bills (most urgent/high interest first), then lifestyle etc.... he says that those who leave savings until last, have issues with guilt and self-worth (?) and do not value themselves. Now he said that he was there once upon a time also. He had debt coming out of his ears, he was scared to put anything away, it all looked impossible. And he's also aware that most money guru types will tell you to pay off your debts first before saving, but, they don't understand human psychology when they say this.
If you want financial independence (or anything else): When the whys are big enough, the hows will take care of it. So if you really, truly want it and you are trying, it will happen. He goes on with some tools to help.
Firstly, he said that when he started, as I said he was very nervous, he didn't think he could live if he saved. However it is never about how much you earn or how much you save, just the fact you get yourself into a routine of saving. He said he started by saving $50 a week (so $200 a month) and got a direct debit started up, where he couldn't access the funds - it was just done every single month (or fortnightly however you want to set it up). He said that he never missed it, and that he made a rule, that every quarter, he had to up it by 10%. So if you were putting away $1000 a month, in 3 months, you had to make it $1100. The more he did it, the more he never missed it, and the less unexpected bills seemed to come in. He said its a funny observation to make, when you've got no money, complaining about having no money etc, you seem to get hit with all the unexpected bills which makes you feel even worse. But the more money he put away, the less unexpected expenses seemed to happen. So, even if money is so tight, save regularly what you can, even if it's $20 a week... but commit to it and commit to upping it. Then you will get to a point at which you can invest it. He walks his walk - he put down a $10mil cheque to kick off his philanthropic venture for education - so from nothing to multi-millionaire (not sure what he's worth exactly, could be more, but he's very successful and well known). Even as a child growing up, he was told he would never amount to anything, he couldn't read or write and it was in his early teens I think that he began to communicate with others. It happens. It's not impossible, only your current headset may be ;)
He also shared an interesting fact - Warren Buffet - one of the richest men in the world, had read an entire library's collection of books on wealth. Not only that, by the age of 11 or so. Does that not give you an idea he was interested in wealth? When was the last time you read about wealth creation? You might pick up a magazine or a book of interest, but when you want something enough, you will do it, and become more successful, because wealth isn't your big TV screen, it's your library. It increases your skill, your worth, your capabilities. So if living a more wealthy, abundant lifestyle is important to you, maybe you need to be doing a bit more than you are now. But it's like anything in life if you want to be successful - in your chosen area, if you want to make your riches and success, become a master of what you do. Immerse yourself in reading and learning on that topic, read all you can... and become a master of it...
Many people make their wealth from businesses, so here's steps to do that (here's where my notes get more sketchy, sorry!):
1. You HAVE to serve others. What you do must serve others for them to want to spend with you. Ask yourself, what is the benefit to me that serves ever greater numbers of people? Find 200 reasons. He asks you to do this with every point, as you must make it absolutely, positively certain in your mind, and to help change your mindset.
2. Refine and prioritise actions in your business - with a purpose on growing profits. Find 200 reasons why this would benefit you.
3. Saving an ever-progressive portion of the profits
4. Investing with ever-progressive levels of risk and leverage
5. Accumulating great fortune
6. Building and creating a cause/legacy (philanthropic)
FOCUS ON THE SERVICE AND THE DEBT WILL DISAPPEAR!
On debt, you need to change the way you look at it:
* Write down all your debts owed, include everything, then make a list of things saying why you are grateful for each of those debts and how it's helped you. People, institutions or banks, have gambled in giving that money to you. You need to start understanding and appreciating your debt, to be able to turn it around. It might be that you wouldn't have had the car you have, you might have been bankrupt - whatever... look for all the good. Appreciate your debt.
* Get total amounts owing for all the debts and break each of them down into categories, look at it as units of service: per year, per quarter, per month, per week, per day, per hour.... because smaller chunks are easier to look at and deal with than big ones. Focus on the service and that debt will look even smaller.
On raising fees:
1. Identify the product or service you are great at providing
2. Write a huge list on what services, benefits, advantages, features etc you offer over anyone else. Your uniqueness. Write this out over and over until you know it back to front. So if someone asks you why they should use you, or why you are better/different to the others, you will say it will full confidence.
3. Write out 100 benefits to the customer of the new price
4. Write out 100 drawbacks to the old price
Oh yeah, and he said something about hang with people you aspire to be. He said poor people hang with poor people (and share the same stories/beliefs about wealth or lack of). Millionaires hang with millionaires. Billionaires hang with billionaires. Get inspired from these people, study these people, learn about business and finance from the great leaders and successful people, like Branson, Buffet, Gates... in books, interviews etc.
Okay that's all I have time for right now, and I know I wanted to write a little more in but it's slipped my mind, but this will get you started. I think its such helpful info, and I learnt that in 1.5 hours, if you want to learn more amazing stuff from Dr John Demartini, in the coming months he is doing his Breakthrough workshops in most eastern states, so look into it!
