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Part Three:
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A. Review:
Okay, lets do some review now. By this time you should have finished the “The Slight Edge” and you have till Step Six to finish the “The Richest Man in Babylon”.
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I hope you can see like I did how beneficial they were to read!
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Please get back to your team leader and let them know what you liked or learned.
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Now I want you to look at this chart and information again. What do you see this time you look at it? Does it have more meaning to you now? It should!
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Take a minute to review the information below and think during this time how your personal investment fund is coming along and what you could do to make it better!
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B. The Slight Edge with a penny:
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Doubling your money every day:
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Day 1) One Penny
Day 2) Double 1 pennies to 2
Day 3) Double 2 pennies to 4
Day 4) 4=8 pennies
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Day 5) 8 pennies x 2= 16 pennies
16 doubled to 32
32=64
64 pennies doubled to $1.28
$1.28= $2.56
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Day 10) $2.56 doubles to $5.12
$5.12 doubled to $10.12
10.12 doubled to $20.48
20.48 =40.96
Day 14) 40.96 doubled to $81.92
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Day 15) $81.92 doubled to $163.84
$163.84 = $327.68
$327.68 doubled to $655.36
655.36=$1310.72
$1310.72 doubled to $2621.44
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Day 20) $2621.44 = $5242.88
$5,242.88 =$10,485.76
$10,485.76 = $20,971.92
$20,971.92=$41,943.04
$41,943.04 = $83,886.08
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Day 25) $83,886.08=$167,772.16
$167,772.16=$335,544.32
$335,544.32=$671,088,64
$671,088,64=$1,342,177,28 (one Million dollar mark)
$1,342,177,28=$2,684,354.56
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Day 30)$2,684,354.56 doubles to $5,368,709,12
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C. Your Personal Progress Chart.
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Where are you now?
Day 1
Day 2
Day 3
Day 4
Day 5
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Day 6
Day 7
Day 8
Day 9
Day 10
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Day 11
Day 12
Day 13
Day 14
Day 15
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Day 16
Day 17
Day 18
Day 19
Day 20
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Day 21
Day 22
Day 23
Day 24
Day 25
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Day 26
Day 27
Day 28
Day 29
Day 30
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D. Let’s go through some basics of making money:
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1) “Profits are better than wages”
Jim Rohn
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…and “If you want to make more money, become MORE VALUABLE to the marketplace.”
Jim Rohn
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What does that mean?
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The meaning to this is that it’s better to earn a profit from selling something then it is to earn a wage working for someone else. This is because you can always increase your profits ten fold by increasimg your sellimg skills and what you sell, but this is not always the case working at a job. Does this mean to go quit your job? No, its just that working toward eventually quiting your job may be a good goal.
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The next phrase to become more valuable to the marketplace just means to work harder on educating yourself and learning the skills required to become a more valuable person in the marketplace! Give attention to this every day. Even if its just a little bit of your time.
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2) Evaluation of an Asset.
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An asset is anything you receive, find or buy that you can use over and over again to create income.
An example would be a bus. Once you buy the bus, you can keep charging people to get on your bus over and over again.
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Evaluation of an assett means that you are finding out what its true value is BEFORE you buy it. This way you can attempt to buy it cheap and sell it for more or so you can figure out how long it will take you to make your investment back.
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3) Obtaining Asset:
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Simply put, receiving, finding, or buying the asset. This may involve saving up to purchase it.
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4) Buy “Low” sell “high”
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This also could mean buying and finding out how long it will take to make your investment back and if it will be worth it. Buying low and Selling high is KEY to being able to make money. Often the hard part is knowing WHERE to buy it low.
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5) Advertising
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Advertising and Marketing are truly the reason that create the most headache inside business. If you don’t have enough advertising or don’t have the right marketing system to bring the right people to you – this can cause a business to fail. This is one of the reasons GDI Team Elite works. It has a great advertising and marketing system, UNLIKE MOST online business.
As far as advertising and marketing something to double your investment fund, there are local ways to do this that are usually effective (That we will discuss later).
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6) Building Trust
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Being able to have a marketing system that brings customers to you, so that you have the ability to earn thier “know”, “like”, and “trust” is crucial. Not many sales happen without these three things.
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7) Activity
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Hey, its just a fact. If you don’t work at it, you wont earn from it!
But along with activity. you need FAITH to believe that you can do it and then ACTIVITY connected to this faith.
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8. Ability to read, grow and study opportunities.
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I’m not sure if you know this but Warren Buffet spends half of his day just reading and studying business in some way. In this way, he grows better each and every day and becomes more knowledgeable about the opportunities around him. This is what you need to do too.
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And that’s the reason we encouraged you to read “The Richest Man in Babylon.” But also you should be looking on Craigslist or Facebook marketplace, your local paper or local online page that you can buy and sell from.
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What did you get from this review?
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Share this with your team leader.
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