What is Your Wealth Creation Style?



There are many ways to create wealth through business.  The question is…What is the best way for you? Failure in entrepreneurship is sometimes a result of being out of alignment with one’s personal wealth creation style. Let me explain.

I recently met with a friend that had invested a great deal in owning a parking & transportation business.  This business required him to maintain the facility, remain on site, manage employees and a number of other very important task.  The business started off well.  However, after a short amount of time the operation has become a burden to him?

Why? Because he prefers being on the go, buying, selling and moving goods around the world, which he has done successfully and profitably throughout his life.  My friend’s wealth style is that of a “merchant/trader” not a “manager.”

My friend was out of his natural wealth flow and the tasks associated with being a “manager” was sucking the life out of him. Chances are you resonate with one of the wealth styles described below more than all of the others.  It is not required that you pursue businesses that only support your wealth style.  However, you will find that by doing so, attracting money into your life will become much easier.

Wealth Creation Styles

Promoters easily promote other people and or ideas.  This person is outgoing and can excite and inspire one to try something new or different.  Short projects work best for the promoter. (concert/event promoters, sale professionals, politician, political campaign managers, media personality)

The supporter creates wealth by serving other leaders.  He or she may help them, relax or clarify their vision in the midst of chaos. Supporters are at their best when they are in the service of  leaders that live values they believe in.   This individual maybe a hair stylist, barber, massage therapist, consultant, marketer, financial planner, doctor, lawyer or any other professional service provider.

A Merchant/trader is someone that loves to buy and sell.  This individual knows how to find good deals, negotiate with sellers so they become great deals, then sell goods for a profit to motivated buyers. Merchants/Trader often have an adventure streak and are willing to travel far and wide for the best deal. Their mottos are “Ain’t no mountain high enough” and “buy low, sell high.” Merchant/Traders tend to be (independent retailers, real estate agents, and Investors)

A lord tends to have a great deal of wisdom and maturity. This individual may be able to effortlessly gather information, see patterns, and predict the future. This Lord tends to come from wealth or is perceived as such.  She is easy to be with as she doesn’t hustle or move fast like the Merchant/Trader.  Instead she strategically places herself in the path of wealth or information then provides guidance to her benefactor based on her high level of insight and intuition.  The lord appears to lead a life of leisure and sometimes excess. However, the inside information she gains from her often high net worth social circles has the ability to make anyone in her good graces very wealthy. (homemakers, Intelligence professionals, consultants, CEO’s, Generals, advisers to political or business leaders)

A manager is loyal, patient, and organized.  He sees the big picture and has the ability to develop systems and organize processes to increase organizational effectiveness for a company’s owners.  This individual is a leader and has the respect of his/her subordinates and superiors.  The manager brings order to chaos and is rewarded handsomely in the form of stocks, bonuses, gifts, trips, and ownership rights. (CEO’s, General Managers, Operations Managers, etc)

A connector may have few close friends but knows everyone.  More importantly, everyone knows him.  If you want it. He can find it.  Chances are he can call in a favor and get what you need for free. Not monetizing his connections is actually the biggest threat to his acquisition of wealth. The connector has a network that is unrivaled. He knows all manner of men up and down the social-economic scale.  He can make introductions and provide access unlike none other. (logisticians, freight brokers, advertising professionals, city planners, and anyone else with the gift of connection)

The inventor creates wealth by creating and innovating new technologies that make the lives of others easier.  The inventor needs a strong trustworthy support system because his mind is like a satellite. It is always receiving new ideas that must be manifested through his hands.  The inventor is a tinker and is often easily distracted…that is until an idea or problem he falls in love with captures his attention.  When he is captivated by his work, the inventor must be forced to eat and sleep. (scientist, engineers, technologist, software developers)

Unlike the inventor, the improver makes nothing.  He simply makes things better.  This individual can be very critical and must learn to use tact.  However, he has the ability to listen to the market about pain points of existing products. He then uses his connections or knowledge to create product improvements. The improver has strong problem solving skills and may also possess strong technical skills.

I did not develop the concept of the these wealth styles and I may have left out a few.  However, remember learning about them years ago in workshop from a gentleman I don’t remember.  If anyone knows who the owner of this concept please let him know about this article.

Never-the-less, hopeful these wealth creation distinctions give you a better idea of how to capitalize on your wealth creation style. What wealth creation style suits you best? Please post your comment below.

Michael Tucker is an international, author, and speaker.  He is also the founder of Social Mobile Buzz, a marketing an communications firm that specializes in turning ordinary companies in to champion brands.

How to Move Your Good Idea from Concept to Cash


Over the last week I’ve had the opportunity to spend time with my brother in law in MN.  After being married for 4 years this really the first time we’ve had the opportunity to hang out.  I’ve learned a great deal about him over the last several days.  The biggest thing I’ve learned is that he is a man of many great business ideas and unlike some his ideas actually have merit and would do great in the marketplace.  Do you have a friend or realative likes?  Maybe you’re this guy?

The million dollar question is: How do you turn these great ideas in to a profit.  Below are a list of points you will need to consider to accomplish this successfully.

1.  Choose one idea and move as fast as you can with it.  If you’re creative by nature you probably have a new idea every minute.  This is how I am and for awhile I didn’t know how to control this trait. They way I’ve learn to harness this gift is by using my creativity to help develop my single idea and to make processes easier for clients.  I’ve choosen to focus on a single task  and not be vererd off course by anything that is unrelated to this task.  This is mandatory for success.  Choose which idea you will persue first an only focus on it.

So…how does one select which idea comes first?  Choose a list of criteria and measure each idea against these criteria.  What tends to be common for most people is having more time than money.  If this is the case for you, choose an idea that you can develop today and make money with tomorrow (literally).  Plan to build and develop this concept over the next 2-3 years.   (This means blocking everything unrelated to this idea out for 2-3 years).  Then use the money from this venture to fund your next venture.

Once you’ve choosen your idea it will be important to move fast?  Why? Beacuse we are all interconnected and when you focus on a single idea it is released in to the Marco-mind or into a thought field that everyone subconsciously has access to.  In computer terms it’s like putting you idea into an unprotected cloud.  If you do not execute on this idea rest assured someone else will.  Good ideas are never lost they simply go to other people.

2. Put Your Idea on Paper.  Putting your idea on paper can take many forms.  Most people think of  business plan when I share this priciple.  Obviously, you will need to make a business plan in time if you would like to acquire funding for your idea.  However, initially, you will simply need to write down the products or services you plan to sell (in detail), who you will sell them to, and how will you reach these customers.

It is important to write your ideas down for 3 reasons.

I.  So you don’t forget them (because you will if you’re an idea magnet)
II. So you have a guideline for moving ahead.
III.  Writing is the first step towards manifiestation.  The written words grounds your concept in the physical world.

3. Protect your idea.  There are several things you can do to protect the idea you’ve choosen.  The biggest defense of all silence and and speed to market. You may also need to consider other forms of protection like non-disclosure agrements, trademarks and patents depending on the idea.

Only discuss your idea with your inner circle or mastermind.  This is a small group of 3-7 people that support your dreams and will provide you with positive feedback.  These individuals should preferrably be more successful than you, have their own things going so you aren’t seen as a threat.  Additionally, they should have solid connections and be cooperative in nature instead of competitive.

Keeping quiet keeps you humble and moving forward.  It also protects your seedling or baby idea from naysayers and idea thieves as it develops. It may even be important to stay silent about your idea around your spouse or other family members, escecipally if they are risk adverse or have seen a substantial amount of your past failures.  If you need to conduct reseach and you will do so without revealing your end objective when possible.  Your goal should not to be to talk. Instead, you should focus on put points on the board then sharing your success.  The former is day dreaming.  The latter is marketing.

4. Set at definate date when you plan to have your idea on the market.  This is not always easy.  However, after you have quitely gathered the information needed from your various sources regarding time frame and and any possible expenses, set a realistic timeline for the completion of various milestones and ultimately the completion of your project.

Finally, work like you life depends on meeting this deadline.

What action help you bring new ideas to market?  Share them with us here.

Does Your Story Include the Life of You Really Want?


Last week I mentioned that I was reading the book “Trance of Scarcity” and I was sharing my thoughts on  Marketing Beyond the Trance of Scarcity.  This week our guest blogger, success expert, coach, author and speaker Lynden Kidd will be sharing with us her view on  the chapter in “Trance of Scarcity” about ‘stories’ and how they impact our ability to create the results we deserve in life.

We all have a story about ourselves. It usually starts mundanely with; ‘I was born on (fill in the blank date) in (fill in the blank location).’ We also love to tell stories about everything around us. Additionally, we learn powerfully from them too.  So, then it seems logical that we’d be empowered by our stories; that they would be informative, uplifting and renewing and that we would tell good ones, rich, juicy benevolent ones about ourselves and each other. NOT. Have you seen the headlines?  Have you heard about the US economy; about the European one?  What about your own story?  There isn’t much of a silver lining in anything in the headlines and many of us have chosen really awful personal stories.

With bad news all around us; how do we avoid the instinct to simply hunker down and to wait out this economic winter hoping that spring will arrive before we perish or run out of cash, investments and patience?  Answer: we live intentionally.

Each of us is in control of how we respond to the events that happen in our lives, and we craft what happens to us from adolescence through all of our adult years.

Living a life on purpose or a life of intention is very different than trying to get our personal and professional circumstances to behave. Intentional living means living out loud and in a way that aligns us with what really works – being confident, being resilient and exultingly achieving success in our lives and our work.

So, how do we do this you might ask?   The most successful among us examine our stories and lives for “limiting” beliefs.  We intentionally reviewing what is serving us and what isn’t any more.  We focus on the stories and beliefs that serve us and discard all others.

The objective is to transform into a version of yourself that has a story that is worth telling.

Bottom line, intentionality means consciously choosing to write and live a better story. instead of just  bumping along like a leaf in a stream.  Here’s to great stories!

You can begin your journey for intentional living by attending Lynden’s day long Success by Design workshop on October 8th. Visit http://lyndenkidd.eventbright.com to register.

Use the Coupon code “NETWORK”  to receive $50 off the retail ticket price

How to Successfully Launch Your First Business


A friend of mine recently graduated college and landed a great job in the IT industry only to discover that her passion was baking.  She sent me an email requesting my advice.  I ended up writing a pretty lengthy response that I believe is filled with information any new entrepreneur can use… so I decide to share it with you; my favorite reader! I apologize in advance for any spelling errors.  I like for my my emails to have character.

So…you want to be an entrepreneur? This is a big decision. I’m glad you have job now to support you while you build this dream.  Since you want to become a baker lets hop right in to it.

Start Small and fill a Niche

I would start by baking cakes at home and selling them to friends and family while you save money and prepare for your bakery. You may even want to get access to a commercial kitchen at a church if things really get rocking. Most churches have underutilized kitchens and would be happy for an extra $100-200 a month. I recommend choosing a niche (wedding cakes, cup cakes, etc) and getting really good at it You can make a pretty good living off of wedding cakes.

Build a business PlanMost people say start here.  However, if you’re a procrastination you will never get started.  My advice is to simply get started and but build your plan before taking on too many customer.

Next, you will need to build a business plan with a good financial forecast. This means you will need to start pricing everything you need as if you were going to open the bakery tomorrow. (Location, oven, city inspection and tax fees, baking ingredients, credit card machine, etc). It wouldn’t be a bad idea to work part-time with a local baker and watch how the run their business.

There are many FREE biz plan templates online http://bplan.com/ is one.

Get Support – Business is a team sport. Lone Rangers are punished harshly

Review your plan with several people who have been successful in business (The keyword is “successful”) and who you trust will give you honest feedback and won’t be a dream stealer. Look around your city for an SBA approved Small Business Development Center or other Free or low cost start-up support centers like SCORE.

I would also become a regular at chamber of commerce, non-profits, and other business/social related meetings. Make friends and lots of them and keep up with them on Facebook and with Christmas cards, etc. They will eventually become your customers. It’s not a bad idea to find out what the top charities are in your city and start volunteering when you can. This will get you noticed by the big players in your city.

Confidence is King – If you don’t have it now read motivational books take seminars and execute on your plan like crazy to build it.

When people ask what you do tell them by you own a cake decorating company and you specialize in_________cakes. Even if you’re baking them in your apartment.

Part of becoming a business leader means acting like one until you believe you really become one. Hence, the phrase from the movie “Boiler Room” Act as If. Customers absolutely love confidence and will pay a premium for it!

Save Your Dough – Most business owners fail because they go broke before they learn how to make money.  Don’t be this guy. Additionally, I would caution against taking out large loans on your first enterprise.  There is nothing wrong with growing your business with the earnings from your success.  Business loans are still loans and have to be repaid (Unless you’re like Trump and you go bankrupt every year).

While you’re doing all of these things keep your expenses way low and start saving like a maniac 25-35% of your pay. You will need at least 6-12 months to live on plus whatever your business plan dictates you will need monthly to run your business until it becomes profitable.   Starting home-based bakery can help with this transition.

Be willing to Fail – Because chances are you will

Most businesses fail in the first year. Don’t be afraid of this. Business is 90% mental. If you do the things in this email you will increase your odds by 1000%. Nearly every Millionaire has failed their way to success. In fact, most millionaires fail on average 16 times.  Since this is your first business you should be prepared to take at least 15 more shots.

If you don’t want to become a millionaire thats ok but the same rules apply. However, you should plan to make a lot of money at what you do otherwise it’s not worth the risk, worry and sleepless nights.

Oh…and you must learn to Sell, Sell, Sell yourself.  If you’re uncomfortable asking for money get over quick there are several seminars and training programs to help you with this.

Finally make sure you read the book “The E-myth Revisited”….this book is critical reading for all entrepreneurs according to nearly every business consultant in America and its core example is built around a bakery concept.

What would you have included in this email to my friend?

Why Customers Don’t Care about Your “Customer Service”



Based on this law, it is my firm belief that all failure in business stems from not delivering enough service to enough of the right people. As small business leaders it is easy to get caught up in goal setting, financial projections, creating the right sales pitch, finding the fastest path to get out of debt or become a billion dollar company and completely lose sight of the fact that a healthy business is one that truly renders service to mankind.

While focusing on strategic areas of our business is important, we must make a point not miss the big picture.

Assisting other people just like us to solve their problems is what service is really all about. This act is the derivative of all true wealth.

Unfortunately, the word “service” has become “too commercial,” and is often used in a sterile manner to describe how we will “manage” the people that “get lucky enough” to buy from us.

Guess what! Customers don’t care about your “Customer Service,” and no one wants to be managed or “handled.”

People that desire our assistance want to be treated with kindness, respect, human dignity, and yes, they also expect us to deliver on the promise of our company.

For years motivational and personal development speakers have been telling entrepreneurs and wealth seekers to visualize what one desires, write it down, do the work and your dreams will come true. Don’t get me wrong, this can work…but only to a small degree if all of the things you visualize are for yourself.

How many times have you stopped to genuinely ask yourself the question “how can I render more service to more people.” What processes would you have in place? How would you feel if today your company sold 1000 times more of your current product than you did all last year? Would you feel good about it or would you feel ashamed because what you currently offer has limited value or is poor quality? What support systems would you need established to deliver the best product and truly serve the most people at a fair price?

If you’re already rendering this level of service, great. Please share your experience. If this concept is new to you I’d love to hear your comments.

I Rule Money, Money Doesn’t Rule Me


If you’ve ever had the chance to attend a T. Harv Eckard, Millionaire Mind Intensive the phrase “I Rule Money, Money Doesn’t Rule Me” will sound familiar to you and bring back memories. If you haven’t had the chance to attend, I’d highly recommend it.

It’s been a while since I’ve actually attended one of Harv’s events. However, this week as I brought on another team member (aka employee) I was reminded of this phrase and what it means. Why? Because, this choice required me to stretch…again.

Today, I took some time to consider the aforementioned phrase. Here is how I understand its meaning.

One who is wise commands his money to perform the action of carrying out his vision (grow a business, build a new house, support a community, expand a country etc.), he creates a plan and mindfully releases the money (i.e. hires workers and pays for goods and services) to return with the desired results of his plan. He understands that money is energy. While it is aways working, it is never far and longs to return to its master because this is its duty and purpose.

The wise man knows that he must diligently and sometime evenly frugally manage the remaining money in his possession to achieve his goal.

He does not compare his results to his peers and is not discouraged by what he sees in his bank balance. He knows that his success no matter how great is for his growth and to enrich the lives of others. He expresses gratitude for all he has and is inspired by his vision of a better world because of his efforts.

On the converse, one who is afraid does not command his money. He is ruled by it. This individual has limited vision and allows his situation and others to dictate the worthiness of himself and his plans. He hopes that money will be kind enough just to stick around and not leave him poor and on the street. He prays and pleads that the “money god” will be merciful to him and grant him a discount, a break or , a “big” client or contract.

He is non-committal, undisciplined in his thinking, and obsessive about getting things for free. In fact, he unknowingly feels entitled to it. The person in fear only thinks of how money or the lack thereof will affect him or his family. It is difficult for him to see the full picture of how his choices affect others.

One who is ruled by money is a hoarder, regularly worrying that he will not have enough. He compares himself to others and is always second place in his mind. He complains about what he has, all the while never realizing that all that he has is sufficient.

The one who is afraid has yet to realize that money is here to serve him so that he can serve others.
Are you ruling money or are you living in fear?

What steps can you take today to begin taking command of your experience with money?

Champions Have Short Memories

The memory of a Goldfish is appx 3 seconds.

The memory of a Goldfish is appx 3 seconds.

Some times in business we are faced with challenges that hit us so hard emotionally, mentally, and/or financially, that we consider giving up on our dreams. During these times it is critical to remember that if we want to succeed and win like a champion. We must develop the habit of having a short memory.

I know you’re probably thinking that this is completely opposite from everything you’ve ever heard, but let me explain. I’m not talking about forget peoples faces and names after meeting them or conveniently forgetting to perform a task that requires significant effort.

When I say champions have short memories, what I mean is that we must develop the skill of letting go of past failures and let downs and allowing them to remain in the past so these events don’t cloud and prevent future successes.

We must practice forgiving ourselves and others even though we sometimes want to hold a grudge; we must practice being the bigger person and strengthening our resolve to move forward by putting systems or new practices in place that keep unsuccessful past events at bay.

Champions have short memories because they make a habit of learning, correcting past mistakes, and forgetting the pain, and drama associated.

Champions know that they can be right about “how bad their situations is” or they can be rich, happy, and/or living life on their terms.

What events and/or situations could you stand to have a shortened memory about today?

Too Much Texting could Spell “Bad Business Relationships”


I love social media, email, text messaging and all of the latest communication innovations. However, I am also a huge fan of communication itself. I was recently working with a partner company that decided that the leadership and growth direction of our companies were no longer compatible. No problem here. Businesses change direction and strategy all the time. However, instead of discussing this over a cup of coffee or a phone call like professionals of old, we ended up parting ways via a series of voicemails and text messages.

Of course this was not my preference. However, it is what happened.

Why do I share this story?

Often, as busy professionals we look for speed when communicating with employees, customers, and business associates – many times, at the expense of maintaining a quality relationship.

What we may not realize is that the method of communication we choose says a lot about our level of professionalism and how much we value the relationship of the person we are communicating with.

It is critical for business leaders to choose the communication platform that best suits the priority of the message being communicated.

If you or a friend have ever been dumped by a girlfriend or boyfriend via Facebook or a text message without experiencing being “fully heard” or “closure” I think you get the picture.

Scheduling a lunch meeting via a text is fine because the impact of miscommunication is minimal. However, making a strategic business decision or communicating information that could be easily misunderstood or complicated warrants a face-to-face or voice conversation.

Choosing the right form of communication is just as important as the message communicated. Getting this right can make all the difference when it comes maintaining healthy business relationship.

Responsible Business Leaders take Vacations

Michael & Ellen Sailing in Mazatlan

It is important for business leaders to work hard and play hard. I’ve spent the last week in Mazatlan, Mexico with my wife. This was a great opportunity for us to nurture our relationship by spending time with each other and relaxing. I even learned a few things about how business is done in Mexico.

For years, as a business owner, I burned the candle at both ends and rarely took
time away from my business. My rational was that if I was away having fun I was being neglectful and spending money that I could be using to grow my business.

In recent years I’ve concluded that this was faulty thinking and is based on scarcity and lack mentality. And, guess what…this mindset was showing up for me every time I talked to a prospect and he or she “just didn’t have the money or couldn’t afford to invest in my services”…even though they were clear that it was exactly what they needed to achieve their goals.

Life always has a way of reminding us of who we’re being in the moment. Stopping to listen has changed everything for me.

This year I’ve taken 3 holidays and each one has done wonders for
my mindset and ability to be creative. I’ve even meet some great contacts on my trips that have translated into business.

Side note – when you take a holiday make sure you you go for the right reason… fun. Acquiring a new client is just a bonus. The possibility of meeting a new client should not be used to mentally justify your trip. When you do this you do not truly disconnect and are still mentally living in the land of scarcity.

What I’ve concluded is that when one is clear about his goals and has taken decisive action toward them no vacation on earth can keep the universe from delivering.

So get out, see the world, and love life. Your business depends on it.

NBA Star, Walter “Mr Accountability” Bond, Speaks to Tucson Business Leaders


Walter Bond spoke to business leaders at the June 2011 Business Clubs of America signature breakfast in Tucson, Arizona. Mr. Bond’s talk was uplifting, inspiring, and incredibly funny.

Mr. Bond explained that in order to create results in business, leaders must distinguish themselves by looking like success, being the best in the world at their craft, creating results for clients and giving up common conversations of fear and lack.

Walter also stressed the importance of confidence, “connecting” vs. communicating and exchanging “pity-parties” for results.