How to Replicate Success=?ISO-8859-1?B?rSA=?=Manifest Moments=?ISO-8859-1?B?gQ==?=, Issue 17

Last week 15 businesswomen from Rwanda were selected to come to the US to attend a Mini-MBA program including lectures from millionaire businesswomen. My lecture was Thursday night, and because of my affiliation with Rwandans I stayed the entire week to assist them with their MBA program.

The first two businesswomen who addressed them talked about their humble upbringing – no running water or indoor ‘facilities.’ The Rwandan women could really relate to this.

So I thought, ‘How can I say something that they can relate to?’ The thought came to my mind to talk about being a shy child. I titled my talk: ‘From Shy Girl to Influential Leader’ Then I taught them leadership skills, and about how leading organizations can enhance your credibility and business profit. I told them how I got elected Chair of the London Chamber of Commerce - the first woman and first American to do so, and how I was invited to address the Czech Parliament on the subject of privatizing industry. I told them about how I got 6 business books published in 25 languages, and franchised my management training in far corners of the world.

That worked! At least half the women come up to me to say they were shy as a child or are still shy. One women with a very influential position in the community confided in me that she had trouble addressing groups and yet the growth of her customer base depended on it. She worried day and night about how she would overcome this fear so that she could achieve her business goal.

Other people came up to me to share similar fear setbacks, and soon my appointment calendar was full with personal coaching appointments.

For the woman with the public speaking fears, since she needed immediate results, I advised her to assign it to her deputy who was outgoing and unafraid of public speaking to recruit customers while she developed her own skills and confidence. I suggested to her something that she should study those who are at ease – such as her deputy, or presenter on television. She should break those traits down into specific pieces, then mimic those specific traits – one by one - until she is comfortable with them.

For the woman who wanted to increase her clothing store sales, I had her break down her current sales on a monthly basis. She discovered that she had 4 seasons, with vary different sales levels. She was then able to think of extra items she could sell during peak season to increase revenue. She also decided to start a new business during low season!

I told them all about the art teacher I had in night school once who had us draw a sea shell. After we were finished, he asked us to do it again, but this time we were to focus on just one square inch of the sea shell and draw that inch in as much detail as we could. The result was amazing – the amount of detail we captured this time was phenomenal compared to the first time! Why? Because the first time we were viewing it somewhat superficially.

The same is true in business. If we really drill down to the detail – as the woman above did when she broke down her sales to monthly numbers, then you are able to see the detail and develop superior strategies.

The same is true of the woman who wants to master public speaking. By breaking the process down into eye contact, tone of voice etc, the mystery disappears! She can then replicate success – piece by piece, inch by inch!

And so can you!

3 MINUTE FOCUS TIP: The next time you have a fear or mystery in your mind about how to succeed, watch someone who does it well. Divide what they do into specific pieces. Then replicate those specific pieces until you succeed too. Think of your goal now, and decide who or what you will replicate.

Research shows that happiness in life is directly proportional to the speed you are moving toward your goal. We’ve developed a Goal Achievement Team™ process that REALLY works... It’s $597 for 12 weeks and starts July 26th. We have one space left on this team. Want to join us? (Male and Female Members) Go to this link for info: http://www.womenforwealth.com/htm/EShop/prosperityteams.html


Christine Harvey is an international trainer in self development and management development. She’s the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide, including international best seller ‘In Pursuit of Profit.’

Important:Economy Issue 7-11-08: Both Sides Of The Mouth

For those of you who don’t subscribe to EconomyGuy.com, I wanted you to see this important issue before the weekend. You can subscribe free at EconomyGuy.com


Subject: Issue 7-11-08: Both Sides Of The Mouth

From Tom Harvey - Author
and Cyrus Uible - technical guru.
 
 Stocks crashed today on the bad news coming out of Fannie Mae and Freddie Mac (see analysis below)....
Talking out of both sides of the mouth.....

The stock market was rattled today by the news that Fannie Mae and Freddie Mac were in deep trouble financially.  Their share value was off 49% and 46%, respectively, early this morning on the news.  (Consider losing half of your stock market investment in an hour's time, and you get a feel of the meltdown going on.)  Part of the news was that the government was considering taking over these Government Sector Enterprises (GSE's) as part of a contingency plan.

Paulson then said there would be "no government bailout", and the government would "support them in their current form."

Sen. Dodd, after talking with Paulson and Bernanke, then said there may be federal help for these GSE's.

All in the same day.  Sounds like conflicting statements on the surface!!!!!!!  My interpretation is that there is PANIC inside the government on this issue.  This smells too much like the Bear Stearns weekend, and I would not be surprised to see something BIG happen on Sunday (the same day of the week that Bear Stearns was rescued.)

Well, let's look at the facts, and come up with our own conclusion.  Clearly Fannie and Freddie are in trouble financially.  Together they hold about $5 Trillion worth of mortgages.  That's a VERY BIG NUMBER.  Even if a very small percentage of those mortgages were to go bad (and going bad is a reality, not a guess), the loss to the GSE's would be catastrophic.  Think bankruptcy for a normal company.

Allowing Freddie and Fannie to go bankrupt is not the decision of the FED or the Treasury. There are BIG political overtones here, and the Congress is the body that would step in and save the day.  The Congress set up these GSE's in the first place (and the G in GSE stands for Government), so they aren't about to let them fail in a Presidential election year.  The Congress would try to strong arm the FED and/or the Treasury into taking action to save these GSE's.

So, the logical conclusion is that YOU are going to bail out Freddie and Fannie. The FED will probably step in, and use those lousy mortgages as collateral  for new loans to these GSE's.  That's what they've been doing with the merchant banks, so what's different here???  The FED's preferred tool is the Discount Window.  The FED could make a statement that the public won't lose any money because these mortgages will ultimately pay off.  When you hear that statement, get scared.  It means YOU are really stuck with the bill in the long run.  Probably it will not only be YOU, but also your CHILDREN and GRAND CHILDREN.

When it comes time to pay the bill, the FED will simply print more money; and by print more money, I mean increase the M3 measure of currency.  Conveniently M3 is no longer being published officially, but other people continue to monitor its growth, and it is currently growing at 16%/year.  (Not coincidentally, I believe the real inflation rate for consumers is around 8% to 10% - so you can see the influence of M3 on inflation.)  So the M3 growth rate will increase, and inflation will increase with it.  One of the unanswered questions is "When will the rest of the world stop buying US Treasuries, and keeping the US Government afloat?"

This is an example of the type of logic and thinking that I want every EconomyGuy reader to be able to do whenever they hear this type of news.


Here are today's numbers:
Dow Jones 30 Industrial - 11229 (up 82 points)
10 Year Treasury Bond - 3.81% (down 0.02%)
Euro - $1.5788
Gold - $942 (up $13)
Oil - $141.65 (up $5.60) - back with a vengeance.
Gasoline - $3.51 (up $0.13)

Don't see obstacles- - Profit Pointers=?ISO-8859-1?B?gSA=?= Curriculum, Issue 17

I’m in Oklahoma this week, along with other speakers to address 15 business women from Rwanda, with our personal success stories.

The first speaker was a female two star Navy General – one of only 5 in the nation. She was born to poor parents, no running water, no hope of success at school, but nothing stopped her. She was turned down for promotion often in favor of men, but never stopped applying.

The second was a poor girl from Oklahoma, who grew up with no indoor plumbing. Her first business burned down, but she was back up and running within 24 hours. She rose to run an organization of 600,000 business women and was later asked by the US President to head the United States Mint.

The third was a 27 year old multi-millionaire, born to an immigrant mother into a 2 bedroom townhouse filled with 20 immigrants who slept on floors in sleeping bags. Five years ago she came out of the military, started a business involving government contracts. She uses women, minorities, and disabled vets – and in 5 years has gone from a one woman band to 150 employees and a multi-million dollar business.

What do they all have in common?

They don’t stop at obstacles! You may remember a chart I put in my books called overcoming obstacles. Imagine your goal in the distance. Now imagine some boxes stacked up between you and the goal. Those boxes represent obstacles. The achievement of almost every goal in life will encounter obstacles. Your job is simply this - to decide how you will overcome it.

You have these three simple choices:

1. Will go over the obstacle?
2. Will go under the obstacle?
3. Will go through the obstacle?

It’s that easy!

Remember, profit comes from overcoming obstacles. If we want profit, it’s our job to make sure we let ourselves be blocked by obstacles.

3 MINUTE ACTION TIP: Think about everyone in your next major goal. What roadblocks might pop up? Will you go under it? Over it? Through it?

APPLICATION TIPS:

Business and sales, USE THIS ACTION TIP with all team members or employees to increase sales and bring profit to your organization.

Real estate investment, USE THIS ACTION TIP with your assistant, team members and yourself to improve results.

Network marketing, USE THIS ACTION TIP with your team members and yourself to improve results.

Personal/ leadership development, USE THIS ACTION TIP to make sure you are not blocked.

REFERENCE RESOURCE:  In Pursuit of Profit, by Christine Harvey - an international best seller, published in 8 languages and used by corporations and Institutes of Management around the world.

PS New Goal Achievement Teams™ for high achievers are starting now. Find out HOW YOU CAN BENEFIT...
Go to this link: http://www.womenforwealth.com/htm/EShop/prosperityteams.html

LOVE=?ISO-8859-1?B?rSA=?=Manifest Moments=?ISO-8859-1?B?gQ==?=, Issue 16

From Christine Harvey, WomenForWealth.com

Hi Team -  
Sue, Jamie, Lori Anne, Alice, Deborah, Heiderose, Rebecca, Noelle, Ann, Lloyd, Johanna, Cecelia, Madeleine, Kate (France), Karen, Louise, Theresa (South Africa), Leigh, Karen, Rose, Connie, Amanda Jane, Vickie, Laura, Jamie, Monika, Stacey, Liz, Flo, Viva, Trish, Noelle, Laurie, Darrin, Hilde, Tom, Tommy, and Walter (England).

Young Frank was only a teenager when this happened to him... However the event impacted his entire future, in fact his whole life – the way he’s related to his own wife and his children over the years – the way he’s appreciated every day of his life since that moment some 60 years ago when it happened.

As I heard Frank retell this story with the passion he felt, it made me feel I was there too. It’s impacted me, and I think it will you too.

Here’s Franks true story:

“Some friends and I wanted to make some extra money one summer in Iowa when we were teenagers, and so we went to old farmer John and asked to help with his hay. He hired us but insisted on driving the machinery himself, and leading the efforts in the barn. He was working hard, keeping up with us young lads.

“He even went up on the ladder and has heaving some hay up when suddenly he clutched his heart and fell to the ground below.

“We ran to the barn door and shouted to his wife to call an ambulance.  When she heard our shout, she practically flew out to the bard. She hadn’t stopped to call the ambulance.

“When saw her husband lying on the ground and shouted to him, ‘JOHNNY – WAIT FOR ME!’ What happened next shocked us all. We remember it as if it was yesterday. What she did next was to threw herself to the ground next to him, hold his hand and close her eyes.

“Within two minutes they were both dead,” said Frank. “Farmer John died with a look of total peace on his face, and she with a tranquil slight smile.

“Later, an autopsy showed that farmer John died of a heart attack, but his wife’s cause was listed as unknown.”

Can you image the impact of that event on the life of a teenager? Let’s learn through Frank’s experience. I’ve actually heard of lifetime spouses dying within weeks or days of one another, but this is the first time I’ve heard of such an instantaneous event. May each of us reflect on the power of love.

With love from ChristineHarvey@WomenForWealth.com

Criticism is Poisonous Without an Appointment=?ISO-8859-1?B?rSAg?= Manifest Moments=?ISO-8859-1?B?gQ==?=, Issue 15

From Christine Harvey, WomenForWealth.com

Hi All
F or some reason I keep picking up a book from my bedside table called ‘Your Road to Lifelong Happiness’ by Ken Keyes, Jr. Have any of you read his work? Here’s something I really like – perhaps we can all try it.

Under ‘Criticism is Poisonous Without an Appointment,’ he says this...

If you want to bring the miracle of unconditional love into your marriage (or any relationship) it is essential to give your new brain absolute instructions NEVER to criticize, judge, or attack your partner – unless you make an appointment first.

This intelligent strategy (of making an appointment first,) eliminates the unexpected attack that your lover’s unconscious mind will program as: “This is dangerous.”

Unfortunately, criticism is a frequent behavior in most marriages, he says. People criticize to make another person feel afraid, guilty or ashamed. Through these painful emotions we are trying to control the other – to make them do what we want.

All criticism is an attack. When our partners defend themselves, their defense will be an attack back. So defense is also an attack. Keyes goes on to say that the Department of Defense in DC, used to be called the ‘War Department.’ And so a defense is an attack. To the subconscious mind, “defense,” “counterattack,” or “getting even” is a declaration of war.

For the best way to handle a concern, he refers to a process advocated by Dr. Hendrix, called The Couple’s Dialogue. This process allows your old brain to blow off steam.

It works like this:

1. You start by making an appointment.
2. Then you fully express your discontent.
3. The partner repeats it back, and asks if what he heard is correct.
4. You repeat that until all is on the table.
5. Then your partner tries to identify your emotion ie fear, anger, frustration, resentment, hatred, jealously, etc.
6. Then it’s your partner’s turn to be heard with you paraphrasing back, validating and empathizing (naming your emotions.)
7. You keep taking turns until a win-win emerges.
   

It works wonderfully, he say, to reconcile both the inner child and the inner adult.

It goes on to say, “Most of the time we only marginally listen to each other.” In this process we must fully listen in order to repeat back.

In this process, notice that neither partner necessarily agrees or disagrees. Without using this process, your mate will feel not heard, and will continue to repeat the same thing over and over – and you’ll get ‘fed up’ fast.

So let’s try it and see!

3 MINUTE FOCUS TIP: The next time you have an irritation, make an appointment and try the above process. Then write and tell me how it worked. I’ll change the names to protect the innocent if I print it!

With love from ChristineHarvey@WomenForWealth.com
Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide, including international best seller ‘In Pursuit of Profit.’
Want more results faster? Then sign up now to join a Prosperity Team™... The next group is already filling up! Don’t be left out - join our Prosperity Team™ for high achievers and see how your goals can be transformed overnight. Go to this link for info: http://www.womenforwealth.com/htm/EShop/prosperityteams.html





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Profit Depends on Sales, Profit Pointers Curriculum, Issue 16

It was over 100 years ago that Robert Lewis Stevenson said, “Everyone lives by selling something.”

Unfortunately, many people don’t value the importance of sales in their companies. They are so involved in other departments - they don’t realize that their job depends on the product being sold!

A company can have the best engineered product in the world, but if there is no sales team to sell it well, the company will go bankrupt, and along with it, jobs disappear.

It’s up to us as business owners and managers to bring this to everyone’s attention. In fact, sales training for non-sales employees is becoming a popular solution. Whether by reading or formal training, it helps the interface between departments and pushes profits up.

If this enlightenment doesn’t happen, results can be disastrous. As one observer pointed out about her company, “Much to my amazement, the service department had no idea how hard sales were to achieve. In fact, they often treated sales indifferently. They paid little attention to delivery schedules, and didn’t realize how easily they could lose sales.”

So it comes back to what Robert Lewis Stevenson said – Everyone lives by selling something – they just need to be enlightened about that truism

Remember, profit comes from everyone understanding and supporting the sales process. If we want profit, it’s our job to make sure that happens with employees and support people across the board.

3 MINUTE ACTION TIP: Think about everyone in your team. Do they understand and support the sales process? If so, to what extent. Stop now and think of ways their sales acumen can be improved, be it training or reading or accompanying you or sales personnel in the field.

APPLICATION TIPS:

Business and sales, USE THIS ACTION TIP with all team members or employees to increase sales and bring profit to your organization.

Real estate investment, USE THIS ACTION TIP with your assistant, team members and yourself to improve sales and profit.

Network marketing, USE THIS ACTION TIP with your team members and yourself to improve recruitment and sales.

Personal/ leadership development, USE THIS ACTION TIP to make sure you value the sales process and devote time to improving your own skills.

REFERENCE RESOURCE: Chapter 11, Pages 103-109,  In Pursuit of Profit, by Christine Harvey - an international best seller, published in 8 languages and used by corporations and Institutes of Management around the world.

Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide,
            including international best seller ‘In Pursuit of Profit.’

Why not forward this to another person who can benefit – you’ll be helping them AND the economy at the same time.
PS New Goal Achievement Teams™ for high achievers are starting now. Find out HOW YOU CAN BENEFIT...
Go to this link: http://www.womenforwealth.com/htm/EShop/prosperityteams.html







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Support is Life Changing=?ISO-8859-1?B?rSA=?=Manifest Moments=?ISO-8859-1?B?gQ==?=, Issue 14

Support is Life Changing– Manifest Moments™, Issue 14
From Christine Harvey, WomenForWealth.com

W ho is supporting your success?

I’ll tell you an interesting story.

Ever since the day I left my chairmanship position of the London Chamber of Commerce, I’ve been able to sign my name as Past Chair, London Chamber of Commerce. This one facet of my life has been an incredible credibility builder and door opener wherever I have gone. Stick with me here – I’m going to help you reflect on your life in a minute.

In fact on a group tour of investors to South America, where we were destined to meet with heads of state, the group leader always started the introductions with me and my title first, before introducing the mega-mega-multimillionaires present.

In any case, I came close at one point to NOT having the honor and privilege of that Chairmanship. I cringe when I think how close I came to missing that opportunity for experience, professional growth, connections and credibility.

Here’s how I almost missed it... One day the Chairman before me called to see if I was willing to run as the next Chairman. And here’s what I initially said – “NO.”

The reason I said no, was that I told myself I was too busy with my new business in London. I told myself that I didn’t want to get side-tracked.

Shortly after that I was telling one of my protégés – a young woman who had won first place in a competition I sponsored, call ‘The Most Promising Young Businesswoman Award.’ Her name is Sue. In any case, Sue said to me - “Christine, no way are you turning down that opportunity!” She went on to say, “You’re ALWAYS preaching to us (meaning herself and the other award recipients)  that we should step up to the leaderships plate. Now you go back and say YES you’ll run!”

And so I did. Her words were the turning point in my life.

My point is this– who are your supporters? Who have you put in place to look out for your interests even when you have forgotten them? Even when you lose perspective on your own life!

Think about this and think about your own life. Why did I first say no? Was I really that busy – maybe. Or was it fear? I knew I’d have to stand in front of hundreds of people, I’d have to welcome officials and heads of state from around the world. Could it be that I was deluding myself – and saying ‘I’m too busy,’ was as easy out?

This is an all to human act which holds us back from reaching our full potential. What opportunities have you turned down? What opportunities stare you in the face right now? What opportunities are you waiting to create right now?

Coming back to my point – if you have a support base, they will help you stand up to your potential, as Sue did for me. They will help you see and act on opportunities. In those days, I created that support base by starting an award program for young women. What can you do now to create yours? (Over the years I’ve realized that not everyone has the time or know-how to do that, so I’ve created Prosperity Teams™ so that everyone can have a support base. Not only that, we have a life changing know-how path that goes with it. I’m honored to say that results people have been getting are truly inspiring.)

3 MINUTE FOCUS TIP: Think about your support base. Do you have one? If not, do you want to join ours? Or do you want to create one of your own? Either way, do it now. It can be the turning point of your life.
Please feel free to call me if you want to discuss it – 520-991-4044
or go to http://www.womenforwealth.com/htm/EShop/prosperityteams.html

Having it All ­ Sales Skills Are Life Skills- - Profit Pointers=?ISO-8859-1?B?gSA=?=Curriculum, Issue 15

Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide, including international best seller ‘In Pursuit of Profit.’

(For application of these principles to:  business, real estate, network marketing, personal development, see APPLICATION TIPS below.)

Hello all,

As I sit looking out my window in Hawaii at the palms and sea, I’m reflecting on something very close to my heart – personal success.

Time after time in life I’ve watched intelligent, hard working people, fail and falter because they did not have sales skills. And I don’t mean just in sales situations. I mean in everyday life.

Take the example of getting commitments. Maybe you have a tenant, Joe, who is late in making his rent payment and promises to pay. Or a boss or employee, Mary, who promises you something. If you have had sales training, you KNOW that you must ask ‘WHEN’ this promise will be delivered in order to nail down the commitment.

It might sound like this...” Joe, I hear you say you’ll be able to pay a half month. WHEN will that payment be coming? Tuesday, OK. What time Tuesday will you be here?” If Joe objects, you know you have not ‘sold’ the concept that he needs to pay. So you start over... “Joe, if you’re not sure what time you’ll be here, then I assume it’s not a commitment. Joe, I’ll have to start the eviction process now today unless you can commit to a time to come on Tuesday.”

If you don’t understand sales procedures, you’ll not ask for commitment, Joe won’t come Tuesday and you’ll be in agony, resentment and needing to start your eviction process much later then necessary.

And what about the boss or colleague who promises you a report. Maybe it affects your bottom line or your mental well being. Mary has good intentions when she promises you that report but she gets overwhelmed with other pressing problems and your issue falls to the bottom of her list.

Why? Because she has no commitment to deliver by a certain date. If you had had sales training, you would have handled it like this when she made the promise... ”Thanks Mary. That report is really important because it affects how we will move forward on this deal. Just so I can tell the others - and so we can put together our time line - when will you be able to send that over to me? Tuesday? Great. I’ll schedule everything around Tuesday then.”

Do you see the difference? You’ve put the person’s reputation on the line AND you’ve made them see why it’s important. Now instead of it being just another annoying task, it jumps to the top of their priority pile.

So what does this have to do with Hawaii? Just this one simple thing... If I had not had sales training, I would NOT own this condo now... This condo in FRONT of the Trump Tower. Yes, as my good friend James quips ‘Christine, you’ve out trumped Trump.’ Without sales training I would not have traveled the world, started several businesses that have impacted thousands or have addressed several Parliaments. No, I would still be sitting at home wondering why I had not achieved my potential.

I’m sharing this with you because I firmly believe that we must share what we know with each other in order to achieve our dreams in life. One of my dreams has been to own a beachfront second home in the famous stretch of Waikiki. I achieved it because I’ve had a life of practice in negotiation and goal setting thanks to my career in sales and business. And I would not have exceeded in business without my grounding in sales.

So if you feel blocked, start reading and studying sales. It’s not about selling. It’s about life.

Remember, sales skills are life skills. To increase get commitment and success in life, learn sales skills...

3 MINUTE ACTION TIP: To dramatically increase your results in life, do two things. Pick up a good sales book and enroll in a sales course. Then use sales skills in every facet of life including getting commitments.  

APPLICATION TIPS: USE THIS ACTION TIP with customers to impact your dreams and make them come true.


REFERENCE RESOURCE: Chapter 11, Pages 103-105,  In Pursuit of Profit, by Christine Harvey - an international best seller, published in 8 languages and used by corporations and Institutes of Management around the world.

Hurry - June Prosperity Teams™ are starting - register now Don’t be left out - join our Prosperity Team™ for high achievers and see how your dreams and goals can be transformed overnight. Go to this link: http://www.womenforwealth.com/htm/EShop/prosperityteams.html

Inspiration or Memories Replaying=?ISO-8859-1?B?rSA=?=Manifest Moments=?ISO-8859-1?B?gQ==?=, Issue 13

W hen you think of upsets in life, do you ever stop to wonder about the real cause?

Perhaps you remember Joe Vitale, from the hit DVD about manifesting called The Secret. I saw a book Joe wrote called Zero Limits on Amazon a few months ago and ordered it. That was my first introduction to the ancient Hawaiian healing system called Ho’oponopono.

After reading about it, I discovered that Ho’oponopono was practiced by a business coach I know who coaches many multimillionaires. That made me even more interested. I was also intrigued to learn that after studying the principles and meeting the Guru of Ho’oponopono, Joe Vitale refined some of the principles he professed in The Secret.

In fact, I’m so taken with this that Tom and I have decided to attend a weekend seminar lead by the Guru of Ho’oponopono in Kona Hawaii. I thought you might be interested too. So if any of you want to do it too, jump on the website of Ho’oponopono and register. Delta airlines has direct flights to Kona or you can go into Honolulu, and catch a commuter flight from there. I booked ours for 52,500 mileage award points on the Delta website in one fell swoop and transferred AmEx points to cover it. Yes, it’s late notice – the dates are June 14th and 15th - but I know some of you are go getters! I just finalized our flights this weekend.

Here are some of the gems I’ve gathered from reading the book and the Ho’oponopono website... (my comments in brackets)

Problem solving is part of the purpose of existence. (Wouldn’t it be great to look at every problem we encounter as an opportunity to use our brain in the right way! And NOT let it stress us!)

Existence is a gift from Devine Intelligence. And the gift is given for the sole purpose of reestablishing Self Identity through problem solving. (Wow, so now we see another benefit of problem solving – that of reestablishing our self identity. That’s powerful!)

Self Identity operates by inspiration and memory. Only one of them – either memory OR inspiration, can be in command of the Subconscious Mind at any given moment. ...usually memory is the thorn and inspiration the rose. (That thorn seems about right when we reflect on how we feel in the midst of upsets. I wonder if we can let go of memories replaying long enough to let inspiration in!)

“I am the consumer of all my woes.” John Clare, Poet (I love this one. So true. Our woes are so perfect for us - and no one else - that we must create them ourselves!)

The Conscious mind can initiate the Ho’oponopono process to release memories or it can engage them with blame or thinking. Thinking and blame are memories replaying.

To be Self Identity requires incessant cleansing of memories.

Consciousness working alone is ignorant of Devine Intelligence’s most precious gift: Self Identity. As such, it is ignorant of what a problem is.

This ignorance results in ineffectual solving problem... (and) needless grief.

The Conscious Mind needs to be awakened to the gift of Self Identity, “...wealth beyond all understanding.”

Who is in charge... Inspiration or memories replaying? The choice is in the hands of the Conscious Mind. (Great food for thought. Hope some of you can join us in Kona on this journey.)
   

3 MINUTE FOCUS TIP: The next time you have an upset, decide if you are replaying memories OR if you are giving the mind space for inspiration to come in.

With love from ChristineHarvey@WomenForWealth.com
Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide, including international best seller ‘In Pursuit of Profit.’
Want more results faster? Then sign up now to join a Prosperity Team™... The next group is already filling up! Don’t be left out - join our Prosperity Team™ for high achievers and see how your goals can be transformed overnight. Go to this link for info: http://www.womenforwealth.com/htm/EShop/prosperityteams.html





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Stop Losing Business - - Profit Pointers=?ISO-8859-1?B?gSAg?= Curriculum, Issue 14

Stop Losing Business- - Profit Pointers™ Curriculum, Issue 14
Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide, including international best seller ‘In Pursuit of Profit.’

(For application of these principles to:  business, real estate, network marketing, personal development, see APPLICATION TIPS below.)

Hello all,

I learned an amazing profit pointer while running my business in London.  

A worldwide study shows that 75% of all potential new business is lost at ONE CERTAIN POINT in the customers contact with our businesses. Can you guess at which point this is?

Think about your business for a moment. Which points of contact do you think are most likely to lose a potential customer?

Well, here’s the answer – it’s the FIRST point of contact. Yes, that’s where 75% of potential new business is lost – never to be recovered again!

That’s a finding that can make you enormous profit!!! Think how much you have to gain from knowing that. Once you look at your own business and determine the most likely points of first contact, you can set about making sure that you plug that gap.

If you have employees, you can make them realize that without customers, there is no business, and therefore no paycheck.

If you run a consultancy, a small business or a network marketing business, you can be super sensitive to first contacts and treat every step like gold.

If you want to stop losing business needlessly, you need to look under every stone. List all the first contacts – those by phone, in person, with who – you or someone else. Then be creative and persistent in the way you change those first contact points to be more effective. When you do this, miracles will happen in your business! Customers will increase, profits will increase and business will prosper.

Remember, 75% of all your potential new business is lost on your customers first point of contact – plug that gap now...

3 MINUTE ACTION TIP: To dramatically increase your business, make a list of all possible first contact points that your prospective customers have with you and your company. Next make a list of all possible ways business can be lost at those points. Then be inventive about changing them.   

APPLICATION TIPS:

Business and sales, USE THIS ACTION TIP with customers to close more sales – ie increase profit.

Real estate, USE THIS ACTION TIP with your assistant, team members and yourself to improve buying and selling.

Network marketing, USE THIS ACTION TIP with your team members and yourself to improve recruitment and sales.

Personal/ leadership development, USE THIS ACTION TIP with all communication to improve your end results.

REFERENCE RESOURCE: Chapter 10, Pages 93-95,  In Pursuit of Profit, by Christine Harvey - an international best seller, published in 8 languages and used by corporations and Institutes of Management around the world.

Hurry - June Prosperity Teams™ are starting - register now Don’t be left out - join our Prosperity Team™ for high achievers and see how your goals can be transformed overnight. Go to this link: http://www.womenforwealth.com/htm/EShop/prosperityteams.html

Love or Fear=?ISO-8859-1?B?rSA=?=Manifest Moments=?ISO-8859-1?B?gQ==?=, Issue 12

From Christine Harvey, WomenForWealth.com

I had a call from a member this week...

She told me that she’s had some rough times over the past few months and that these member emails have pulled her through. It’s vital to feel connected.

It’s also important to remember that all human beings have ups and downs. How we deal with the down moments in life probably has more to do with our quality of life than how we deal with the up moments!

Here are some essential manifest points about life....

1. Life is... a series of choices. Choices come from only two sources – love or fear.

2. Freedom comes... when we take 100% responsibility for our choices.

3. Insight comes... when we acknowledge that what shows up in our life is exactly what we wanted – it was a choice. Was it from love or fear?

4. Feelings in the body come... like a pit in your stomach, or any place in your body, as a sign that things are not right.

Stop what you are doing and figure it out. We all have underlying issues which cause us to react in certain ways to certain things. If you can stop a pattern to your reactions, probably it came from fear. Examples might be ‘fear of being taken advantage of,’ or ‘fear of being unlovable’ or ‘fear of failure.’ The list is endless, but each person has their ‘favorites!’

Spotting what they are can help you chose love in dealing with it next time – AND get a different result. As Tony Robbins says, “doing things the same way will get the same result. If we want different results, we have to do things differently.”

5. The mind was made... to do problem solving. The next time you have a problem, use gratitude. Say “Fantastic – go at it mind – see what you discover!” Or, “Great, let’s see what God and the universe has to deliver.” The minute you change to gratitude, options flow in – amazing and true. Gratitude is a subset of love.

6. The ‘Six Essential Experiences’... that most humans need, are:

... Feeling Seen and Acknowledged
... Feeling That You are Okay
... Feeling Able to Create Effects
... Feeling Safe
... Feeling Loved
... Feeling That You Belong     

3 MINUTE FOCUS TIP: The next time you have that uneasy feeling in your stomach, stop. Look at the Six Essential Experiences. See if you are letting fear stand between you and your ability to manifest the 6 essential experiences! If so, CHANGE IT. It’s that easy. Come from love with your choices, minute by minute.

From ChristineHarvey@WomenForWealth.com
Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide, including international best seller ‘In Pursuit of Profit.’
Sign up quick to join a Prosperity Team™... The June Co-Ed group is already filling up! Don’t be left out - join our Prosperity Team™ for high achievers and see how your goals can be transformed overnight. Go to this link for info: http://www.womenforwealth.com/htm/EShop/prosperityteams.html

Profit From Objections - - Profit Pointers=?ISO-8859-1?B?gSA=?= Curriculum, Issue 13

       Profit From Objections- - Profit Pointers™ Curriculum, Issue 13

From Christine Harvey (For application of these principles to:  business, real estate, network marketing, personal development, see APPLICATION TIPS below.)

Hello all,

Most people in the business world, in fact in life, want others to do something from time to time.

Perhaps it’s to buy something, to do something, or to decide something. But they come up against protest.

How they handle the protest – the very words they use next - will determine their results. This is what we call, ‘The Cushioning Segment of handling the objection.’

It’s the psychological piece that comes between the objection and your explanation.

Let’s look at what NOT to do.

Most folks dive in and start defending their case. And, because of that, most folks fail to win the other person over.

Why? Because if we are to convince anyone of anything, be it a customer or in a personal relationship, we must first convince them that we hear their objection.

But it goes farther then ‘hearing.’ We must convince them that we feel and understand their objection. Without this, our explanation falls of deaf ears. It’s as if the other person has a suit of armor on. Our words don’t penetrate their armor – they just bounce off.

Let’s say they express their objection. The person who says, ‘I hear you John but ... And then goes on to present the counter, will NOT win. Why? Because the customer does not feel heard or understood.

Let’s look at what DOES WORK: If you are selling the product or idea and say, “John, I know what you mean. That’s a serious concern. After all if that’s not handled, there can be serious repercussions. XYZ could go wrong. Then you would be in a really mess. I totally understand.”

Then you take a deep breath while the customer (or personal relationship) gets the message that you understand. It’s what we call the Cushion or Empathy Segment of countering an objection.

Now, and only now, are you ready to explain your side of the case. And so you counter their objection as you normally would, with a rock solid explanation of your idea or service and all the benefits to them that you can muster.

And finally you close it off by asking if their objection is satisfied. If not, you repeat the 3 part cycle – here it is in a nutshell:

The 3 Step Formula for Turning Objections into Approvals:

1. The Cushioning/Empathetic Segment
2. The Explanatory Segment
3. The Close-Off Segment
   

Remember, profit comes from overcoming objections. Results come NOT from your explanation or counter argument. Rather, success lies in your ability to convince the other person that you hear and understand their objection, BEFORE you present your explanation.  

3 MINUTE ACTION TIP: Today as you present your ideas in your business and life - STOP when you hear objections from your listener. Don’t leap into your counter argument! Instead pause and empathize – even repeat their concern. In this way, you’ll prove that you’ve heard and understand their objection. Only then will your explanation be heard, and only then will you win the business or win your case.       

APPLICATION TIPS:

Business and sales, USE THIS ACTION TIP with customers to close more sales – ie increase profit.

Real estate, USE THIS ACTION TIP with your assistant, team members and yourself to improve closing ratios in buying and selling.

Network marketing, USE THIS ACTION TIP with your team members and yourself to improve recruitment and sales.

Personal/ leadership development, USE THIS ACTION TIP with all communication to improve your end results.

REFERENCE RESOURCE: Chapter 9, Pages 85-89,  In Pursuit of Profit, by Christine Harvey - an international best seller, published in 8 languages and used by corporations and Institutes of Management around the world.

Have you heard how Prosperity Partners™ achieve together? Don’t be left out - join our Prosperity Team™ for high achievers and see how your goals can be transformed overnight. The new team will be starting next month! Go to this link for info: http://www.womenforwealth.com/htm/EShop/prosperityteams.html

Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide,
            including international best seller ‘In Pursuit of Profit.’

Why not forward this to another person who can benefit – you’ll be helping them AND the economy at the same time.

From ChristineHarvey@ChristineHarvey.com

Why We Should LOVE OBJECTIONS - in life and business- - Profit Pointers=?ISO-8859-1?B?gSA=?=Curriculum, Issue 12

      Why We Should Love Objections - in life and business- - Profit Pointers™ Curriculum, Issue 12

From Christine Harvey (For application of these principles to:  business, real estate, network marketing, personal development, see APPLICATION TIPS below.)

Hello all,

Most people dread objections rather than welcoming them. If you learn to love them, your results will skyrocket.

Here are some typical situations in which objections surface...

Your client or employee or colleague is too busy to act now.
Your customer has no money to buy.
Your spouse disagrees with you idea.
Your members won’t participate.
Your boss won’t give you a raise.

It’s easy to become masterful at overcoming objections, but first you need to recognize them for what they are.

Just put your detective hat on, and realize that objections can take 3 forms:
    Questions,
    Statements, or
    Non-verbal actions of uneasiness.

Step one is to watch for the objection... As you speak about your idea, watch for these three to come up. Then say to yourself, “Oh, here’s an objection – now I’ll go to step two.”

Step two is to uncover the reason for the objection. Often the objection arises in the mind of your listener, at no fault of yours. It may be a misconception, or a previous misinterpretation, or a preconceived idea. If you fail to uncover the objection, your listener will leave without taking the desired action, no matter what he or she says when you are together. You’ll know this is true when your customer cancels the order, or your member doesn’t show up or your spouse does something other than agreed!

A good way to uncover the objection is as follows...

If they ask a question, ask them “Why do you ask?” This will help them to go deeper and reveal their true fear or misconception. They might say, “Well I can’t afford downtime of the machine,” or “Well, my daughter goes to lessons at the time of the meeting.”

If they make a statement, it might sound like this: “I suppose you don’t work weekends.” Just interpret that as a question, and say, “Why do you ask?” Let’s assume you are in the service industry. Perhaps they are trying to say that they would like your mobile phone number, and perhaps your sale hinges on that. Wouldn’t you like to know that!

if they make signs of non-verbal objections - wiggling in their chair, or making an uncertain face, or pausing to look at something you are showing. Now you need to ask a question that opens up a conversation, and reveals hidden fear, doubt or misconception, such as. “What issues are you thinking about?” You’ll be amazed at what you discover that can lead you to profit or loss.

Remember that an objection lingers like smoke - if not cleared.
Our goal is to clear objections so that we can explain our benefits and get a favorable decision. And profit!

3 MINUTE ACTION TIP: Today as you present an idea in your business, job or life, look for the 3 signs of objections in your listener. When you see or hear one say, “Why do you ask?” After you uncover the hidden fear or concern, move on to explain your benefits, and a favorable commitment. Try it and then bask in your results!!!

APPLICATION TIPS:

Business and sales, USE THIS ACTION TIP with customers to increase sales and bring profit to your organization.

Real estate, USE THIS ACTION TIP with your assistant, team members and yourself to improve sales and profit.

Network marketing, USE THIS ACTION TIP with your team members and yourself to improve recruitment and skills training.

Personal/ leadership development, USE THIS ACTION TIP with all communication to improve your results.

REFERENCE RESOURCE: Chapter 8, Pages 79-83,  In Pursuit of Profit, by Christine Harvey - an international best seller, published in 8 languages and used by corporations and Institutes of Management around the world.

Have you heard how Prosperity Partners™ achieve together? Don’t be left out - join our Prosperity Team™ for high achievers and see how your goals can be transformed overnight. The new team will be starting next month! Go to this link for info: http://www.womenforwealth.com/htm/EShop/prosperityteams.html

Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide,
            including international best seller ‘In Pursuit of Profit.’

Why not forward this to another person who can benefit – you’ll be helping them AND the economy at the same time.

From ChristineHarvey@ChristineHarvey.com

Applying the Ancient Hawaiian Ho=?ISO-8859-1?B?uQ==?=oponopono ­ Manifest Moments=?ISO-8859-1?B?gQ==?=, Issue 10

Applying the Ancient Hawaiian Ho’oponopono  – Manifest Moments™, Issue 10
From Christine Harvey, WomenForWealth.com

Hi Team -  

I ‘ve been dying to share this with you since I received it from Liz! How often have we all been in a similar situation – trying to sleep, but tossing and turning, wondering what to do about something that upsets us?

Hats off to you Liz – you say you had to use this principle four times to get results – I think that’s extraordinarily good. Most mortals would take much longer to get results! It’s a true tribute to what can be done, and I’m SO proud of you all for having the willingness and ‘out of the box’ approach to creating a better life and a better world around you.

As you read below, you’ll see that Liz had a situation that could have spilled debris around her. But she used the Ancient Hawaiian Principle of Ho’oponopono, to bring calm and clarity to herself. By doing that, she was able to deal effectively with the business dealings at hand. Notice that she did NOT just swallow it, or ignore it, or sweep it under the rug. That just comes back to bite you. No, in her words, “I said my piece with empathy and conviction...”

If you still have not tried this principle, please do. Try it in what seems like an impossible situation. It’s from the book ‘Zero Limits,’ if you want to read even more. I know it seems foolhardy to say “I love you… I am sorry… please forgive me…and  thank you” to someone or something that ‘seems blatantly wrong,’ and yet think about this. Every situation has so many more factors than we can see, or know. What we see is just the tip of the iceberg. Who are we to judge? And where does it get us. To ‘let go,’ is an ultimate spiritual manifestation!

Read below and see what you think. I think it will knock your socks off!

Prize winners for trying this principle so far are Theresa, Rose, Liz. I’ll leave the contest open a few more weeks.

Hi Christine,
I wanted to tell you I had applied this principle with great success recently. 
I had a business issue that got really hot, emotional and personal and came up suddenly. 
I wasn’t handling it well and knew we had a big meeting the next morning.  I was dreading it and had that terrible feeling in the pit of my stomach. 
As I climbed into bed that night, I thought about the issue and how wrong all the people involved were. 
I tossed and turned, and suddenly your piece on the Hawaiian Teaching came into my head. 
 
The words formed themselves.  I imagined each individual and the whole group that would be meeting the next day. 
I was so upset that it took 4-5 times of imagining each individual and saying “I love you… I am sorry… please forgive me… thank you” before the knot in my stomach started to loosen.  Then a feeling of total calm came over me and I went to sleep. 
The meeting the next day went beautifully and I said my piece with empathy and conviction without causing offense. 
 
Using that particular phrase helped me calm down and come up with real solutions.  It also helped me get enough sleep to actually be effective!
 
Thanks, Christine!  I will continue using this one!
 
Liz Uible

3 MINUTE FOCUS TIP: Want to manifest inner peace and tranquility? Think about these 4 short phrases as you go about your day. When something upsetting crosses your path, simply say to yourself: I love you... I’m sorry... Please forgive me... Thank you. See if your stress converts to peace and tranquility.

Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide, including international best seller ‘Success Motivation in a Week.’
Why not forward this to another person who can benefit – you’ll be inspiring them AND they in turn will inspire the world!
Want to join the next Prosperity Team and skyrocket to your highest goal ever? Email me for details at ChristineHarvey@WomenForWealth.com
_____________________________________________________________________________________________________________

Here it is again...
Ancient Hawaiian Perspective – Manifest Moments™, Issue 4
From Christine Harvey, WomenForWealth.com

Perhaps the name Joe Vitale rings a bell from the movie ‘The Secret.’

In his 2007 book written with Ihaleakala Hew Len, PhD, called ‘Zero Limits,’ he talks about the ancient Hawaiian teachings of Ho’oponopono. These ancient teachings ask us to take responsibility for everything around us... everything in the universe... everything in our awareness.

When we see something that upsets us – for example perhaps you see a child being chastised by their parent unnecessarily, and your heart goes out to them – or whatever the situation, here’s what they prescribe... an easy 4 part process. We simply need to say to ourselves:
I love you... I’m sorry... Please forgive me... Thank you.

When I first read it, I felt it was too simplistic. As coincidence would have it, I discovered that other people I knew were reading it too, and trying it with success. So I tried it and discovered it works well – it brings instant stress relieve and more importantly – a new perspective. Try it, and see what you think!

3 MINUTE FOCUS TIP: Want to manifest inner peace and tranquility? Think about these 4 short phrases as you go about your day. When something upsetting crosses your path, try uttering these 4 phrases to yourself. See if your stress converts to peace and tranquility.

Free Prizes for trying this principle: I’m so curious about how this works in different areas of life, that I’ve decided to offer a free (surprise) prize to each of you who writes back to say how you have applied this principle and the result you achieved. I’ll share the results with all of you. Simply email me at ChristineHarvey@WomenForWealth.com, and say “Here’s the situation I applied it to...” and “Here’s the result I got...”

Christine Harvey is the Author of 6 Business and Leadership Books published in 25 languages by 48 publishers worldwide, including international best seller ‘Success Motivation in a Week.’
Why not forward this to another person who can benefit – you’ll be inspiring them AND they in turn will inspire the world!
Want to join the next Prosperity Team and skyrocket to your highest goal ever? Email me for details at ChristineHarvey@WomenForWealth.com

Impressions from Warren Buffett

Impressions from Warren Buffett- - Profit Pointers™ ,
From Christine Harvey, WomenForWealth.com

See quotes from Warren Buffett and partner Charlie Munger below...

Hello all,

I want to share with you the highlights of the Berkshire Hathaway shareholder meeting where we had the opportunity of hearing Warren Buffett answer questions from shareholders from 9:30 am until 3:15 with only a couple of breaks. Bill Gates was present too as a board member, and we saw them both again the following evening at Warren’s favorite restaurant.

The morning started with a 7am entry, where people rushed into the 30,000 seat arena and saved seats for everyone and their brother – a culture that has developed over the years. I would term it ‘sophisticated chaos.’ There were deaths and no pushing and shoving – just fast moving people in track shoes. We secured a second and third row position for our group of 11, about half way down from the podium and had excellent seats under our own ingenuity. The people in row four directly behind us, paid a runner $25 each to secure their seats – so what can I say – that was the start of our day. Within minutes, the whole arena was full, and the overflow watched remotely from the adjoining exhibition hall, crammed with Berkshire Hathaway owned company stalls.

Between 7 am and 8:30 am, we chatted with new friends and old, and the time flew by. At 8:30 am a movie started – now an expected event at these share holder meetings. For those who expected a staid epic, the tables were turned. We were glued for an hour to a most humorous film, as fast moving as MTV, with clips ranging from a BBC type spoof of the sub-prime crisis to Warren’s episode on ‘All My Children.’ The film’s quality was first class, staff of thousands, and Warren’s daughter listed as producer. A very funny and useful clip on the sub-prime fiasco exists on YouTube – a must see http://www.youtube.com/watch?v=SJ_qK4g6ntM

With that kind of introduction, I suppose it should have been no surprise that the opening included a female TV star pretending to take over Warren’s role in Berkshire Hathaway, followed by Warren and his partner Charlie Munger, coming on stage equipped with candy and cokes to consume while answering shareholders questions – of course all the products were under the Berkshire Hathaway umbrella – and those they couldn’t consume on stage, such as Dairy Queen, were touted unabashedly!

But hey, it was wonderful to see these two fellows, age 77 and 84, who have come so far in their own lifetimes, have so much fun with 31,000 people – and to hold their own against questions from shareholders all over the world for 6 hours straight – never wavering from their points of integrity, always answering with facts rolling out like wildfire.

Typically Warren would answer each question first, then throw it to Charlie, who most often answered, ‘I have nothing to add.’ We soon learned that Charlie had a way of cutting to the chase with one sentence of fully loaded words, when another human might choose three sentences, leaving room for interpretation! Neither of them cut any slack for the government regulatory bodies that failed to oversee the Freddy and Fanny Mae issues, or for the Enron executives of the world, or for the outrageous pay scales of some CEO’s.

Here are some golden nuggets covered in the Q&A by Warren Buffett, from my notes followed by points from Tom Harvey of EconomyGuy.com.

When asked about their joy in giving, they said to give things you have personal interest it.

When asked about Tungsten, they said there will be no substitute from Tungsten for cutting tools.

When asked about how they view life, they said “There is no reason to look at nuisances in life.” They commented on how they could have both stayed in their jobs at Warren’s grandfather’s store, and it would have been ‘hell.’

When asked about why they pay themselves so little, Charlie said it’s a good role model.

When a high school boy from German asked about what to do with the rest of his life, they said try to meet interesting people, read books, go to work for a business or person you admire, get the right spouse, and have the right attitude.

When asked about advice for the quiet types who want the recognition they deserve, they said to join with others who want to learn public speaking and learn to express yourself, as Warren had to do. “Force yourself into a situation where you have to do what you are afraid to do.”

When asked about the sub-prime situation, they said “When markets are dislocated, there are always opportunities.” Opportunities may be very brief and very extreme.

When asked “What if you could only see a financial statement and not talk with the management before buying a company, what would you look for?”, they said “Compare it to buying a farm again – Look at the asset – the income and expense. Only buy if you understand the company and the product.”

When asked about economics, inflation and the election, Charlie answered, “We’ll have turmoil that looks like a tea party – will have changes in regulations that will NOT work for everyone. Turmoil as far ahead as you can see!”

When asked about risk, Warren said he considers himself the Chief Risk Officer in the company, and he doesn’t want 1 out of a hundred possible risk, he wants 0.

When asked why he bought a company in China based on the annual report only, he said “When you see that a company has a value of 100 Billion, but you can buy it at 35 B, you don’t need to do further valuations to find out if it’s worth 97 Billion or 103 Billion. If there is a significance between price and value, we buy it.”

When asked about what they look for in their replacements for themselves, they said track record, human qualities and integrity.

When asked about how they handle meetings with outside company directors, Charlie said they keep it short. “We might say for example, ‘We don’t buy start ups’ and the meeting is over.”

When asked about nuclear knowledge, they said “The genie is out of the bottle.” Choke point is the nuclear materials - in the hands of too many of the wrong people – think we need to reduce that. They suggest seeing the Nuclear Threat Initiative website on the internet.

When asked about what we should teach children in school, they said your mind and body are your best assets, i.e. yourself. Too few people invest in themselves. “You can be the person you want to be.” Pick up good habits. Charlie thinks that schools should teach people how not to be manipulated by vendors and suppliers. They recommended 2 books – Influence and Yes.

When asked about economics today and if they remind them of any time in the past, they said “Troubles that begin in one area, usually spread to others.” “I can’t remember in my lifetime, shockwaves being sent out like these.” “Some stupid things won’t be repeated quite the same way, but the primal urges will pop up  like desire for leverage, and belief in the tooth fairy!”

When asked about other good books, they referred us to Larry Cunningham who rewrites a lot of Warren’s principles.

When asked what their the biggest influencers had been, they said father, wife and books. Warren added about Charlie – Ben Franklin. They advised, “Teach your kids by what you do not what you say.” Warren said he visited he father’s office often when not in school and read all his business books. “Look at effective human beings, see what their qualities are, and copy them – don’t take the bad qualities from anyone.”

When asked about any last words, Charlie said he would like Berkshire Hathaway to have influence on other companies.

REFERENCES SUPPLIED BY: Christine Harvey – author of  In Pursuit of Profit, an international best seller, published in 8 languages and used by corporations and Institutes of Management around the world.

Have you heard how Prosperity Partners™ achieve together? Don’t be left out - join Prosperity Team™ for high achievers and see how your goals can be transformed overnight. The new team will be starting next month! Go to this link for info: http://www.womenforwealth.com/htm/EShop/prosperityteams.html

Why not forward this to another person who can benefit – you’ll be helping them AND the economy at the same time.

More Buffett points below from EconomyGuy.com
_____________________________________________________________
(To Subscribe Free and receive critical information about the economy that affect your investments daily in your inbox,
        go to EconomyGuy.com and enter your email address)
By Tom Harvey

Hi EconomyGuy readers,

Special Re: Berkshire Hathaway Shareholder Meeting, Saturday May 3 in Omaha

Here are the highlights as I saw them at the Berkshire Hathaway shareholder meeting.  There were 31,000 attendees with about 5 hours of questions and answers from any shareholder to Warren Buffett and Charlie Munger.  This was highly informative and entertaining, as not only were their answers refreshingly straightforward and honest, they were also amusing.

1. About the liquidity crisis - Warren states that while it is probably over, disruptions will continue. The FED action with Bear Stearns was the high water market in the crisis.  Warren Buffett was asked to take over Bear Stearns before JP Morgan was asked to.  Warren’s reasons for not doing it was stated to be that he didn’t have enough cash (he only had $35B of the $65B required) on hand.
2. If Bear Stearns had failed on the Sunday it was taken over by JP Morgan, it would have had to declare bankruptcy. It held $14.5 Trillion in derivatives that would have been unwound in a very short period – think 2 weeks.  That would have resulted in 1 or 2 major other failures.  This is why the FED acted so decisively, and changed their rules that day.
3. A great book to read on investment is “The Intelligent Investor”, chapters 8 and 20. (I have personally purchased this book, and intend to study it – perhaps with you.) He mentioned it several times during the meeting and said it was the book that opened his eyes to investing.
4. What is the stock market future?  Warren states emphatically that he has no idea.  He and Charlie are not in that business, and never discuss it.  He is only interested in buying low priced businesses, and considers his buys a long term hold.  One exception was a Chinese power company that he bought low, and sold at a fair market value a few months later.
5. When he buys a company, he retains the current management.  He has no contract with the CEO of the business, but gives lots of appreciation.  He looks for managers with lots of passion for their business.  His cookie cutter business is a privately owned business where the owners want their cash out, but want their company legacy to continue.  Berkshire Hathaway is the perfect solution for them. In fact, he is traveling to Europe in two weeks to speak to business groups and thereby solicit interest mainly from large, multi generational, family owned businesses. He wants to get on their radar screen, so that when they get ready to sell even years in the future, they will think of Berkshire Hathaway first. He stated his interest in German companies, because of their quality machinery, much of which works it’s way into the US, such as printing machinery.
6. Does Warren Buffet use stock options?  Basically, no, he just doesn’t use them.  He used one once as a Put on Coca Cola.
7. MBA schools should concentrate on teaching just 2 things.  First, how to value a company, and second, how to value stock market indices.  He also thinks MBA schools don’t provide enough communication skills like public speaking. He was so frightened of public speaking that he signed up for a Dale Carnegie Course and then canceled his deposit, later went back and paid cash so as to not back out. He advocates fighting fears and progressing in areas of fear by getting a support group around you, such as the Carnegie Course did for him.
8. Berkshire Hathaway won’t produce the same results it has produced in the past. It is just too large to grow at the same rate as it did in the past.  It will continue to buy companies, and these will be great investments, but you can only invest that one company’s worth at a time, and now Berkshire has much more money to invest than that.  The inability to invest all its income in great companies is the major slowing process in Berkshire Hathaway’s growth.
9. High CEO salaries are ridiculous in US industries.  His recommendation on how to stop this practice is to have the top 5 shareholder groups unite in communicating to the board of the top companies to stop this practice. He likes to lead by example. He takes little in salary, thus the CEO’s of companies he’s invested if see the example. Most are independently wealthy anyway.
10. Warren does not do “pairs” trading where he buys one stock long, and shorts a related stock.  The odds are you will get 4 pairs right, and one wrong.  The wrong one will wipe out the profit of the 4 good trades.  So, why do it, he says.
11. There have been huge market dislocations in the Tax Exempt Muni Bond market. There is $330B of these bonds out there.  Currently, Berkshire has $4B of these bonds.  The dislocations show up as major swings in the interest rates offered for specific municipal bonds.  He cited examples of the same bond selling at a 4% interest one week, then 8%, 10% and 11% the next week.
12. Berkshire Hathaway did re-insurance in the Municipal Bond market during the first quarter 2008, and received $400M premiums.  This insurance insures the primary insurer of the bond, so both the underlying bond issuer and primary bond insurer would have to default before the Berkshire Hathaway insurance paid out.  This business started out of the blue, as people came to Berkshire asking for their help.  With the Berkshire insurance attached, those bonds now trade at a lower premium than those without their insurance.
13. Here is what Warren looks at when he buys a business.  He looks at the asset first.  He must understand the business, so he can value its future.  He tries to buy at 40% of value.  He wants lots of free cash flow from the business.
14. Regarding the current US exchange rates.  The Euro and Pound won’t depreciate against the US Dollar in the long run.  The US Dollar will continue to weaken over the next 10 years.  There is no need to Hedge against a falling Dollar, if you are in a Dollar economy.  Warren doesn’t like to purchase a company that has all its income in US Dollars – he would like to see some of the income coming from non-Dollar sources.
15. Investment Banks can’t assess or appreciate the riskiness of their own business.  This is a major risk to those industries as proven by the Bear Stearns debacle.
16. Fannie Mae and Freddie Mac are overseen by a government organization called Otheo.  The only job of this organization is to oversee these two companies.  It failed 2 for 2 in its job, as clear misrepresentations in both companies occurred.  This was a clear failure in a government oversight organization.  Warren was basically disgusted by this.
17. The US Government needs to “reign in Investment Banks.” Also, “US accounting standards are all wrong.”  Companies can choose how they value their assets.  For example, they can choose to estimate their current market, or they can choose to report what they paid for the asset.  Think about the sub-prime mortgage security instruments in this context.  This accounting problem is still happening today.
18. Charlie Munger defined some securities out there as “good until reached for”.  This refers to paper assets, meaning they had value until someone tried to actually cash them in, then their value disappeared.
19. The Credit Default Swaps (CDS) market on Wall Street is a “crazy market”.  It absolutely need to be regulated by the government.
    

In short, I would highly recommend attending this shareholder meeting next year. I enjoyed recording the key thoughts on your behalf, but a personal visit would be good. Perhaps we can even organize an EconomyGuy.com members cocktail party for next year! We had 6 friends here to brainstorm after the meeting and it was extremely useful. My wife Christine and I thought of several business ideas to pursue, based on Warren’s comments. Tonight we are off to a special restaurant that Warren frequents and expect to glean more ideas here from Warren and the attendees.

More later,
Tom
EconomyGuy.com