The One Minute Millionaire by Robert G. Allen

• A dream + A Team + A Theme = Millionaire Streams
• Dream: Building the Millionaire Mind-set--self-confidence and burning desire.
• Team: Attracting mentors and master-minding partners to help make your dream a reality.
• Theme: Selecting and applying one or more of the basic millionaire models for making money fast.
• The journey to financial freedom starts the minute you decide that you were destined for prosperity, not scarcity--for abundance, not lack.
• Realize that almost every day you have a new million-dollar idea.
• The Enlightened millionaire pursues a principles approach to wealth:
• First, do no harm.
• Second, do much good.
• Third, operate out of stewardship.
• Borrowing from the Hippocratic oath that many doctors take as they graduate from medical school, the Enlightened Millionaire commits to avoid any wealth-building activities that harm or impoverish other people.
• Create only abundance, never scarcity. This means creating wealth in an ethical, honest, and win/win manner.
• The enlightened millionaire enjoys creating wealth that improves the lives of many people. The goal is to enrich oneself while enriching others.
• Enlightened millionaires are stewards over their financial blessings--enjoying the privileges of financial success while creating an ongoing legacy to bless others.
• The long route is the safest and easiest. You can literally become a millionaire by investing as little as a dollar a day.
• To become a millionaire in your lifetime, all that is required is (1) the ability to find investments that yield at least 10% annually after taxes and (2) the discipline to keep up the process, year in and year out.
• In the whole wide world of money there are only four major ways of becoming a millionaire. No matter what your background, you can learn to master one of these areas.
• Investments: Accumulating shares of stock, bonds, CDs.
• Real Estate: Owning properties.
• Business: Marketing products, services, or ideas.
• Internet: Expanding possibilities.
• Abundance comes from making others better off, and the primary reason to get is to have more to give.
• Life is a succession of choices. The enlightened millionaires embraces each outcome from “above the line”. As much as possible is learned from each situation. As a result, the next choice is more likely to be wiser.
• The universe is fundamentally abundant. There is no shortage, except in our own mind.
• Opportunities and blessings come to individuals who embrace an abundant attitude. Others everywhere have created abundance, so can you.
• When you subtract your liabilities from assets, you came up with what is known as “net worth”. If you want to be a net millionaires, what you own minus what you owe must equal more than a million dollars.
• Literally, as a beginner, there are only three resources you need: a good idea; the commitment to do it; the key contacts who possess all the other resources.
• Let’s not forget physical freedom. Health is the ultimate wealth. With time to exercise and money to buy the finest nutrition, nutritional supplements, and health care, you can maintain your health for as long as humanly possible.
• Give yourself permission to dream a big dream.
• Goals are critical to your success. We recommend you start a special notebook for your goals. Whenever you think of something you would like to accomplish in your life, write it down in your goal book. Then, on a daily basis, write your six major goals.
• To become rich one minute at a time requires that you do what you love doing and you are passionate about it.
• Remember, the force that propels human action is emotion. Feelings--not cold cognitions--drive enlightened millionaires to turn good ideas into great value. If you love what you are doing, it is much easier.
• To create permanent change within a material of a human being, a force must be applied that is strong enough to exceed the “elastic limits” of the object or old conditioning of the individual.
• When you fail to keep your commitment (most people will), just acknowledge the failure and recommit.
• Failure is the opportunity to begin again more intelligently.
• Getting your act together is the final key to manifesting what you want in your life.
• Live life above the line. If you are willing to learn instead of to blame, life will go more smoothly.
• Changing your reality is a snap. Control your thinking and you control your results.
• You are your wealth. All you need is a good idea and the commitment to do it. All the rest can be borrowed.
• Clarity is power. Don’t think of your goals, think from your goals.
• More clarity is more powerful. Write your six major goals down every day.
• Leverage equals speed. If you want to create wealth, you need leverage. Lots of it.
• There are three parts to leverage. The first part is the objective (the Dream) that you intend to bring into reality. The second part is the fulcrum. That is you. You are the object upon which the lever pivots. The third part is the lever itself.
• Enlightened millionaires know speed is the new currency of business.
• All large sums of money embrace the generalized principle of leverage.
• Leverage is the power to control a lot with just a little.
• In business there are five kinds of leverage:
• OPM--Other People’s Money
• OPE--Other People’s Experience
• OPI--Other People’s Ideas
• OPT--Other People’s Time
• OPW--Other People’s Word
• The first form of leverage is to acquire a mentor.
• Your second form of leverage is to acquire a team.
• Your third form of leverage is a network.
• Obviously, a one-person team is not enough. You need the power of a network. In that network, there are several key contacts--people who control huge networks of people. A key contact has “make it happen” power.
• Your fifth form of leverage is the use of tools and skills.
• If you want a speedy result, you need instant information.
• Your sixth form of leverage is systems. Every millionaire has systematized, streamlined, and organized the process of wealth.
• The most efficient form of information transfer is to learn your mentor’s system and follow it. Learn the system.
• When the combined force of mentors, teams, networks, Infinite Networks, tools, and systems is applied to a strong, long lever, miracles can happen in minutes.
• Leverage equals speed. To make a million dollars in a minute, you must master the principle of leverage. The more leverage you have in your added-value activity, the easier and faster you make money.
• The longer the lever, the greater the impact. Enlightened millionaires know that ease and speed are the new currencies of business.
• Millionaires are masters at using all five kinds of leverage in the business world:
• OPM--Other People’s Money
• OPE--Other People’s Experience
• OPI--Other People’s Ideas
• OPT--Other People’s Time
• OPW--Other People’s Work
• Millionaires are constantly looking for leverage.
• There are six key forms of leverage that give you maximum leverage:
• Mentors
• Teams
• Networks
• Infinite Networks
• Tools and skills
• Systems
• Experience plus time equals wisdom. A mentor can give us the wisdom of a lifetime of experience.
• A mentor can give us perspective.
• A mentor can give us proficiency.
• A mentor gives us patience.
• All masters take on assistants to do their “grunt work”--to help them leverage their time. Accept it. Do it better, faster, and with a more upbeat attitude than anyone else. Offer constantly to go the extra mile. Anticipate the master’s needs, wants, and desires.
• In business, you are either leading edge, cutting edge, dull edge, or trailing edge. You need to be at the leading edge. To be there you must master a discipline. The quickest, safest, and easiest way to do this is to apprentice with someone who leads in that field.
• The greatest dragon you’ll ever face is your own fear. If you can learn to live with the fear, the world is yours. Face your fear today.
• Informational learning is predominant in our educational system. Teachers talk; students listen, take notes, take tests, get grades, and so on. It’s all about memorization and regurgitation.
• Transformational learning is about empowering students to discover the answers for themselves. It’s a slower process, but much more profound. That’s why it’s transformational.
• Every successful person has mentors. A mentor is a shortcut to perspective, proficiency, and patience.
• Mentoring is a powerful form of leverage. Drawing from your mentor’s experience is the quickest, safest, and easiest way to climb the millionaire mountain.
• Mentors are everywhere. Each person you meet can “accidentally” teach you something to advance your cause.
• Mentors don’t need to be people. Anything that causes you to change course in life can serve as a mentor.
• Constantly seek out mentoring relationships. When you find yourself lacking in anything seek a mentor to show you the shortcut.
• Assemble a dream team of your favorite heroes and sheroes, present and past. Form an imaginary council of light consisting of your selected leaders. Imagine being able to counsel with them as if they were communicating with you in person.
• Set a goal to search out at least one millionaire a month. Request an audience, either in person, by phone, or by e-mail to pick your millionaire mentor’s brains.
• The best kind of mentor is a transformational mentor. A transformational mentor creates a context in which you experience ahas.
• Every great idea is born drowning. This means that the best ideas have plenty of things wrong with them. This doesn’t mean they should be dismissed. Yet in most meetings or collaborations, an idea with anything wrong with it gets showdown as unworkable.
• An idea must have time to grow, to be supported. Then, when it's time has come, it can be selected and perfected.
• Your network of relationships increases your leverage. The more connections you have, the more leverage you possess.
• To make vast sums of money fast you need to have relationships with those who generate successful results fast, competently, and consistently.
• Each industry has only a handful of superstars. You need to study them--read their books, listen to their speeches, watch their videos--befriend them, and be close to them to be part of the action.
• While you are apprenticing, collect the names, addresses, and phone numbers of all the people you meet.
• Make yourself eminently likeable. Develop an above-average handshake, a magnetic eye contact, and a radiant presence. Choose to serve greatly for the sake of serving. Help everyone whom you can help. Always go the extra mile and put the universe in your debt.
• Choose to make yourself well known. Get a reputation that everyone likes, trusts, respects, and admires you. You are here to make a significant contribution and you can do so more easily with a strong and well-established network.
• Start at once whether you are ready or not.
• One way to strengthen your weak-tie networks is to give something away for free that is valuable to network members.
• Once you have created a network, do whatever it takes to maintain it. The golden rule of networking is: “Be very quick to build connections and extremely slow to break them.”
• A network of relationships increases your leverage. The more connections you have, the more leverage you possess.
• One principle for extending your network lever is “weak ties”. Most people intuitively feel it is their close friendships and strong ties that are most important. In fact, in most cases, your weak ties are more important.
• You must master the strength of the weak tie. Most people do not instinctively cultivate “weak-tie” relationships. However, to make large sums of money quickly, you need to hone this skill.
• Those who “network the networks” gain the most leverage. The value of your network is the square of the number of people in it.
• “Givers gain” is your networking motto. Give something away for free that is valuable to network members. It brings attention to you and it builds trust. Do not expect reciprocity.
• Once you have created a network, do whatever it takes to maintain it. The golden rule of networking is: “By very quick to build connections and extremely slow to break them.”
• The person who chooses to master the skill of persuasion can positively affect millions around the world.
• Master teachers and leaders have always used storytelling to effectively communicate their point of view and illustrate their arguments. Stories pain an irresistibly compelling word picture that communicates heart to heart and soul to soul.
• Effective listening is a rare skill. You quest is to listen with your outer and inner ear to discover what people truly want. You may get your answer by asking them directly--oftentimes the direct approach does work. Other times you need to probe deeper and talk to their personal assistants, secretaries, associates, friends, or relatives.
• Just remember, everybody wants something. Your task is to discover it.
• MoneySkill #1--Value. They value eac dollar bill as a money seed.
• MoneySkill #2--Control. They control their money down to the penny.
• MoneySkill #3--Save. Wealthy people love to save money by spending wisely. But they don’t stop there. They save at least 10% of what they earn.
• MoneySkill #4--Invest. They have a system for investing their money.
• MoneySkill #5--Earn. They have multiple streams of income outside their job.
• MoneySkill #6--Shield. They protect themselves with trusts, corporations, limited partnerships, LLCs, and other legal entities.
• In truth, you don’t want to be a millionaire. You want to live like a millionaire but have very few assets in your own name.
• The goal of negotiation is not to win at someone else’s expense. Rather, it is to expand what is possible. Success is defined by how much bigger the pie is after the negotiation than before.
• Focus on the critical few. Eighty-five percent of the things you do account for only 15% of your results. And vice versa. Therefore, only work on the critical things and you’ll get there faster and with less effort.
• Learn how to procrastinate! Procrastination is absolutely essential to your success. Just make sure you procrastinate the right things.
• Throw away your “to-do” list. Create instead an 85/15 list. Only work on the top of your list.
• Reward yourself for doing the right things. The things that get rewarded get done. If you reward yourself for your most positive actions, you will get more of them done...almost effortlessly.
• Do your FTF: Feared Things First. Which activity on your list do you fear the most? That’s your FTF. When you start your day, ask yourself, “What’s my FTF today?” Start your day with that activity. By training yourself to do your FTF, you unconsciously urge yourself to tackle tougher tasks.
• Do a daily power hour. Take a few minutes every day for planning. Planning is like a rehearsal.
• Don’t step on the stage of life without rehearsing your performance.
• Exercise. It helps you work harder, longer, and think more clearly. It increases your health span and your life span.
• Layer your activities. Use your waiting time productively. Do two things at once. Listen to tapes while exercising, driving, or standing in line. Constantly ask yourself this question: “Is this the most productive use of my time?”
• Write out your goals daily.
• Just say “No!” Don’t let other people dump their “monkeys” on you. Sometimes you just have to say no.
• Master the power of persuasion. The person who chooses to master the skill of persuasion can positively affect millions around the world. You can learn to persuade. You can learn to sculpt your words and phrases into masterpieces that evoke the response you want. People want someone to persuade and lead them in the right direction; you can be that someone.
• Wealthy people are good at the seven money skills.
• Value: Each dollar bill as a money seed.
• Control: Control your money to the penny.
• Save: Save at least 10% of the money you earn.
• Invest: Have a system for investing your money.
• Earn: Have MSIs outside your job.
• Shield: Protect yourself with legal entities.
• Share: Donate at least 10% of your income.
• Enlighted millionaires search for successful systems before they launch their money making vehicles. Having the right system gives you enormous leverage. This is the essence of systems thinking.
• There are dozens of systems for making money. The word system forms an acronym: Save Yourself Time Energy Money
• When you have a system, it saves you time, energy, and money. In the beginning, if you don’t have a system, it’s almost impossible to succeed.
• Operate from your highest and best thinking.
• Life is energy. Your invested energy is your life. You want the greatest possible returns per unit of energy invested.
• Energy well invested will give you a great return on your investment.
• Smart people recognize the need to cultivate a portfolio of income streams--not one or two, but many streams from completely different and diversified sources. If one stream goes dry, it doesn’t bother them. They have time to adjust. They’re stable, safe.
• Residual income--that’s a fancy term for a “recurring” stream of income that continues to flow whether you’re there or note. In other words, making money while you sleep.
• With residual income you work hard once, and it unleashes a steady flow of income for months or even years. You get paid over and over again for the same effort.
• Ninety-four percent of failure is caused by the system, not the people. Most people want to do a good job. Ninety-four percent of all failures are not because people don’t want to do a good job. It’s because the system they were using failed.
• Ideal money making systems have five characteristics:
• Zero cash
• Zero risk
• Zero time
• Zero management
• Zero energy
• Look for sellers who are forced to liquidate their real estate to solve a cash need.
• Look for mortgage holders who are anxious to liquidate their mortgages at a discount to solve an immediate cash need.
• As complicated as real estate investing may seem, it really boils down to becoming proficient in three specific skills:
• Finding deals: How to find real estate bargains.
• Funding deals: Qualifying for mortgages and finding down payments.
• Flipping deals: How to remarket the property quickly and profitably.
• Only buy residential property within 50 miles of your home. Single-family homes, apartment buildings, condominiums, are easier to sell, to rent, and to finance. Stay away from anything else.
• Pick a target territorial about one mile square and become an expert there. Within these boundaries there will be 3 to 10 excellent bargains per year. Be there first.
• Use one of nine methods to locate motivated sellers. People become flexible in the selling of their property for numerous reasons:
• Management, money problems
• Out of area, out of work, out of luck, out of time, out of money
• Transfer
• Illness, inheritance, ignorance
• Vacancy
• Area in decline, attorney problems (lawsuits, liens, bankruptcies)
• Tax problems
• Estate and probate problems, emergency, early retirement
• Delinquent payments, divorce, death, debts, dissolution of partnership
• Here are nine of the many ways to find motivated sellers: (1) classified ads, (2) run your own paid ads, (3) Realtors, (4) canvass a target territory, (5) friends and contacts, (6) banks, (7) the county courthouse, (8) investment clubs, (9) professionals (accountants, attorneys, etc.).
• Determine which nothing down technique to use. Nothing down is an attitude. Quite simply it means that you want to use OPR--Other People’s Resources--whenever possible.
• As an inventor, you are searching for the 1% to 5% of the sellers who need to sell NOW--and are willing to accept unconventional solutions.
• Hard money refers to funds borrowed from banks and lending institutions under strict conditions of qualifying and repayment, generally at market interest rates.
• Buying real estate is a numbers game. You may need to scan through 200 properties to find 20 that show promise. Of these, maybe 10 warrant an on-site inspection. And of these, only two or three warrant writing an offer. Thin it make take 10 written offers before one seller agrees to your terms. Don’t get discouraged.
• To be a successful investor, you must either find value or create value. Here is what you’re looking for:
• Discount situations
• Distressed properties
• Conversion opportunities
• Being a successful as a real estate investor boils down to mastering three specific skills:
• Finding deals: How to find real estate bargains.
• Funding deals: Qualifying for mortgages and finding down payments.
• Flipping deals: Marketing properties quickly and profitably.
• There are seven steps to this process:
• Only buy residential property within a 50-mile radius of your home.
• Pick a target territory about one mile square an become an expert there.
• Use one of nine methods to locate motivated sellers.
• Analyze each potential deal by asking five key questions.
• Determine which nothing down technique to use.
• Write offers on all properties that score 12 or more.
• Buy it! Keep it or flip it.
• One of the fastest ways to create wealth is in climbing the business mountain. If you want to reach the summit of this mountain quickly--a million-dollar profit in a year or less--you need three things:
• Dream: A clear vision and a definite “why”.
• Team: A network of expert mastermind partners.
• Theme: A million-dollar product, service, or idea.
• The world is desperate to have more entrepreneurs.
• According to Warren Buffet, there are only two ways to create wealth: find value or create value.
• Entrepreneurs find and create massive value for other people at a profit.
• Marketing is the oxygen of your new business.
• Look for addicts. Every one of us is positively addicted to something. Addicts make the best customers. Addicts buy quickly and more often. Addicts talk to other addicts.
• Look for addicts. Make your marketing addicting with a powerful USP. Leverage yourself with partners. Reviewing this list for one minute each day will put you ahead of 99% of all businesses in the world.
• The main reason why so many businesses fail is precisely because they waste so much money on traditional marketing in finding or “targeting” customers.
• The clearer you become in what you want your perfect customers to expect from you, the more of them will appear--quickly and easily.
• There is no better way to make millions than being an infopreneur.
• Almost all success books start off with a miserable failure.
• One mediocre idea with some good marketing can generate a lifetime stream of cash flow. And with some luck can turn into millions.
• The internet is the ultimate 24-hour-a-day money machine.
• Million-dollar ideas are floating around you every day. You just have to recognize them and act on them.
• Discover which of the 10 basic business models fits you and your circumstances. Do you want to sell to customers, businesses, government agencies, or charities?
• Create your one minute marketing plan. Review your plan for at least one minute daily. It will put you ahead of 99% of businesses.
• Use the essentials of marketing success:
• Look for positive addicts.
• Make your ads addicting, with an ultimate advantage, a sensational offer, and a powerful promise.
• Leverage your efforts with joint venture partners.
• Use anti marketing strategies. Attract perfect customers by focusing on and specifically attracting the 20% of your customers who give you 80% of your profits.
• Become an infopreneur. Learn to market information products where the profit margins are up to 95%.
• Make up to a million dollars in a minute on the internet. Information that is digitized can be marketed and sold 24 hours a day online.
• The only diploma that counts is a million-dollar idea. The only qualification needed is a burning desire. The only credential required is fearless action. Everything else can be borrowed or bought.