Fi Warren-Smith has been investing in property since 2013 but found she wasn’t getting the same returns when the market suddenly dropped in 2015. Since shifting strategy, Fi is now actively climbing the Wealth Spectrum from Green to Blue, with her business FWS Properties.
How can you change your strategy and find creative ways to approach your business?
Moving from working on the board of a law firm to property investment was quite straightforward, for Fi Warren-Smith as she was used to working with professionals. "I got into the property in September 2013. I bought my first property just before Christmas. 2014 was a good year - I set up 22 rooms [to rent] for myself, and with my partner, at the time we had another 10 or so rooms, but in the beginning of 2015 the market dropped."
“After the market drop though, things became much more challenging. I happened to go to one of Simon Zutshi’s Property Investment Network seminars. I thought it would be good to learn some new strategies, so I decided to join Simon’s year-long Mastermind programme while I was there"
“At first, I didn’t achieve much for the first 8 months. I couldn’t make a property deal in Reading work for me and on one of my mentoring sessions with Simon, we concurred I was actually getting it right but Reading wasn’t the right place to do the right deals.So I shifted my strategy.At the beginning of 2016, I started getting deals across. Through trying a whole variety of things, I ended up as one of the top 5 in the Mastermind program. My strategies ranged from buying an office block to terraced flats.”
Fi found a lot of the shift came from immersing herself in a community focused on property investment. The change that came from the Mastermind network for me was firstly mindset - I'd never been exposed to such a change of thinking or intensive personal growth. We were working in an environment where nearly every session was about confronting fear and barriers. It opened me to this world that I now love, and invest quite heavily in changing my own headspace”.
“I walked away from my year there with 4 or 5 of my greatest friends”.
As a part of Simon’s Mastermind course, Fi took the Wealth Dynamics Profile test for Real Estate Investors - correlated by Simon Zutshi and Roger Hamilton.
“I’m a Supporter profile, and I’ve also done the Wealth Dynamics Flow Consultant Certification. Working with Roger also shifted my thinking - I know now, that I want to be a Blue level investor.
At Mastermind, I was at Green level, and this year I’ve been growing Blue. It’s taking doing everything differently, and changing my strategy moving forward.
The Profiling system is a very powerful tool. I’m about to go into a partnership with other Masterminds - one of whom is Lord profile, and the other is a Supporter. I know as a team that we work well, and that makes such a huge difference."
This year, Fi Warren-Smith won an award for Women in Business, recognising her growth in the property investment world, growing her business to £2.5 million.
What has inspired you recently to do things differently?
4 years ago, Billy Turriff had a property portfolio of 10 houses that were costing him money, his health and his happiness. Today, Billy is a full-time property investor and coach, with over 35 properties and worth over 4 million pounds.
How can you mindfully invest your time now, so that you have more freedom later?
Billy Turriff has been investing in property since 2001. He grew his property portfolio over the year to 10 houses, including houses in Bulgaria, the UK and Ireland. However, he soon found that by the time the bills and voids came in,, he wasn’t making enough money from his investments and the houses had become liabilities, rather than assets.
“I wasn’t in a happy place. I was really frustrated with my job - I didn’t see the value we were adding to clients and I hated it. I was stressed out, I had put on weight, and I just wasn’t doing well at all”.
“2014 had been a difficult year, I had gone through a divorce and my properties weren’t making money. On January the 1st, I dropped my son off at his mums house and I didn’t know when I would see him again. I was flying back to Dubai to work at a job I had fallen out of love with and I had fallen into the trap of trading my time for money”.
Sitting in Manchester airport waiting for his flight, Billy remembers reading the Young Professionals Network journal, “It had case studies in it, of property investors - and I didn’t understand how they’d built portfolios quicker than I did, with less income than me and with worse jobs. I thought I was well educated and connected to the right people. I noticed a trend, where these people had done training first and invested in themselves, so I did some research.”
One of the programs Billy found was the Mastermind course run by Simon Zutshi, founder of the Property Investors Network and co-creator of Wealth Dynamics for Real Estate Investors. After doing some more research and speaking with Simon, Billy attended the 3 day Mastermind Accelerator program and committed to doing the year long Mastermind programme in March 2015.
“I had to work incredibly hard - I was still a dad, and I was working in Dubai. I would take overnight flights from Dubai to the UK, spending 20 nights sleeping on planes for 12 months. It definitely wasn’t a get rich quick scheme but I worked hard for a year, followed Simon’s teachings and it’s given me options for future years now”.
Billy completed 44 lucrative deals, in the year he was a part of the Mastermind programme.
"The 12 month program led to me being able to exit the corporate world. I got asked to go on stage as one of Simon’s top 5 clients, and within 12 months of mastermind, I had more than doubled my portfolio, ending up with £4million of assets and £265k profit over the year.
Now I’m a full time property investor and developer, as well as doing consulting/coaching for Simon. My portfolio is all outsourced but the development side still requires me to be a bit more active.”
Billy believes the value of the Mastermind course was the community network, and the basis of technical knowledge.
“What I didn’t know, was the top 10% of stuff that really makes a difference. Part of that 10%, was Roger Hamilton’s Wealth Dynamics Profile and Wealth Spectrum system.”
“I got so much technical knowledge from Mastermind. Coming from the corporate world, Mastermind taught me about collaboration. I thought to be successful you had to have certain traits to be a leader, but Wealth Dynamics taught me that you could have different flows, different skills that make you a good leader.
I’m a lord but quite rounded overall - and that surprised a lot of people, as I seemed outgoing during the Mastermind course. What Wealth Dynamics taught me is that the reason I was quite social at Mastermind is because it was filled with conversations I enjoyed - because I was in the right environment for me, being more extroverted worked. It clicked that I had to understand different people’s profiles that I connected with too, and that I could outsource tasks that other people could do better, or that I didn’t enjoy.”
Billy focuses on property deals now, outsourcing everything else, and sees himself moving up the Wealth Spectrum Lighthouse.
"I’m learning how to systematize and grow, with the Wealth Lighthouse. As a landlord, investor, entrepreneur, I outsource everything. For me it’s about the deals, but I haven’t created a business as such, no offices or staff. Through spending more time on high value stuff and processes, I now hire specialists to do the work that I was trying to do before.
I see myself firmly at yellow level now. To get to green level and have a team, I know I would need to give up my independence - but I also know if I get the right people I will have more time, so now I’m working through whether to do that or not.”
Today, Billy is still doing property development and he continues to grow from the year of learning, using all of the tools that he has absorbed.
“I’m really happy now. I’m doing 10-15 individual deals a year, rather than the 44 we did in the year in mastermind and growth is still good.”
Glenn Van Ack was struggling with taking his event management company Magnetic Storm to the next level when he decided to partner with his friend and business coach Jane Stevenson.
In just 18 months, the pair increased the company’s profits by 25% and transformed it into a business group with multiple companies. So, how did they do it?
- 1 -
PICK THE RIGHT PARTNER
Sometimes you're too ingrained in a situation to see a solution. Spending every day in the operations of his business, Glenn was in this position. He wanted to spend more time working on the business, not in it.
So he asked for Jane's assistance in interviewing for a general manager, but they were unable to find the right person. In the process, Glenn realized that Jane was the person he needed and asked her to join him. After many discussions and a revision of the role, they joined forces.
Jane Stevenson had run a business strategy consultancy for 16 years before being headhunted to become a director of an ad agency to strategically expand their business development across South Africa, so the creative space was a familiar territory for Jane.
Jane says, "When I came into the business, Magnetic Storm was in a variety of businesses. The Group have invested in many other business opportunities where Glenn saw the potential, but it made our brand message complicated and disjointed from the outside. So we restructured the company from the ground up and developed a new strategy and branding.”
- 2 -
Glenn then introduced Jane to Roger James Hamilton and Entrepreneurs Institute, a leading entrepreneur network that provided mentoring to business owners through Roger’s Crystal Circle.
"Roger comes in from a 180-degree perspective," says Jane. "You can try to look at things differently, but you'd never be able to look at it that differently. You need someone who has no emotional attachment to it and is not afraid to challenge your mediocrity in a way that gets you excited.”
Together they joined to Wealth Dynamics Masters, a five-day entrepreneur mentoring program hosted by Roger in South Africa to craft their vision for Magnetic Storm’s future.
"On day two, we believed we had it – in our minds, we were thinking big. Then we spoke to Roger!" Jane remembered. "He saw that we were merely recreating the old business with small changes. Roger removes you from small-time thinking and gets you looking at who you are and what you want to build. He pushed us, as did all the mentors. We started all over again, stayed up all night to recraft and rework, and the next day, we introduced the “Magnetic Group."
The Magnetic Group concept allowed Jane and Glenn to create a structure for different operations by creating a holding company and setting up multiple businesses for events, training academy, or team development under its umbrella.
The Master’s programme also introduced Glenn and Jane to Roger’s Wealth Dynamics profiling system, which clarified individual strengths and optimum roles for each team member.
Glenn explained how the system helped them: “When you understand your profile, you can play to your talents. We realised how we needed to restructure our teams and change our behaviour. When you're a small business, it's easy to feel like a family, but as you grow, you've got to put processes and systems in place that people may rebel against. It's been a struggle to grow from 10 people to 45; changing habits takes focus, consistency and time,”
For the first time in 36 years, Jane and Glenn implemented a full sales team and freed up the technical staff to focus on their strengths. As a result, they've seen a 15-20% increase in turnover in the last 18 months, as well as a gross profit increase of 25%.
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TURNING CHALLENGES INTO BUSINESS OPPORTUNITIES
Through the process Jane was able to work to her strengths and nurture her passion for strategy and optimisation, resulting in the creation of a new training division, “Magnetic Minds”.
"I'm passionate about developing individuals and building high-performing teams," said Jane. "We're doing it for Magnetic Storm, and we want to do that for other businesses. Magnetic Storm has become a case study on how to change a business from something that is stable and successful to something that's innovative and can adapt in the current market. So, we aim to take this to market and consult to other companies!”
For Jane, what in 2015 was going to be a general management role became a whole new position and way of looking at the business, and by the end of 2017 her skill sets and passion has grown into a company within the group.
Roger recognised Jane’s journey as a crucial lesson for entrepreneurs.
"You can be an entrepreneur without having to own your own business on your own," said Roger. “Jane came on board at Magnetic Storm to help grow and evolve the business. Her whole focus was solving things from within the job. When she came to Wealth Dynamics Masters in South Africa and received Flow Consultant training, she realised that her own brand could be of value to Magnetic Storm as well. So now, they're building a training division, Magnetic Minds, which brings all the pieces together."
Join us here http://bit.ly/2zZTvof and be a part of World's #1 #Entrepreneur Event- Fast Forward Summit 2017. (edited)
What do you do if you run a successful business or are in a really good job but still feel unfulfilled? Being stuck in a ‘success trap’ can be harder to get out of than a failure.
Five years ago, Hilda Lunderstedt decided to sell her famous nutraceutical company with a nine-figure turnover. Whilst most would see it as a dream come true, for Hilda, it turned out to be one of the most testing times of her life.
Without the business that she had worked so hard in for so many years, what comes next?
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SEARCHING FOR MEANING
When Hilda first sold her company, she went from being a business leader to suddenly feeling not needed and having lost her sense of identity.
“That shift was one of the most fundamental phases of my life. I don’t think people realise that when you sell your business, you potentially feel you lose your meaning. When you have a business, you have purpose, places to go, and people need your input. Your opinion matters and you make significant decisions. When that stops and life goes on without you, it’s a very scary place for a lot of entrepreneurs.”
Yet Hilda’s challenges didn’t end with business, her identity was questioned in her personal life too.
“At the same time I was going through a nasty divorce, moving houses, and then my mother died - all within 6 months. My coach then told me, ‘This is an extreme challenge; you are being prepared to show your strength and power,’ and that’s what gave me hope.”
“That, and the fact that my kids were only 3 and 5, were my anchors. I’m lucky I found the strength because after those experiences, nothing in my life was the same. I had a clean slate, a fresh canvas to paint a new life. Few people get that opportunity.”
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MAKING AN IMPACT
It was during this period that Hilda met Roger James Hamilton, social entrepreneur, futurist, and founder of the Entrepreneurs Institute, and that’s where she found the impact-focused community she needed.
“At that time, Roger and his community gave me a sense of where I really wanted to play. I started to think about what this new life meant. Coaching and conversations with Roger made me realise that it was the impact I can make, and he urged me to find those businesses that can translate into that impact. Once I discovered that about myself, it changed my whole way of thinking. I now look at investments very differently, and I ensure I align those investments with my purpose and my vision of what I will leave behind in this world.”
Hilda joined Roger’s Alchemy Circle, a mentoring group for high-level entrepreneurs. Through this group, Hilda was inspired to start investing consciously.
“There are so many great ideas out there, but it is impossible to invest in everyone. I focus on the CEOs I’m investing in as they’re the ones creating the businesses that align me with my “Why.” I’ve gone from investing to conscious investing, and it’s changed my whole life. In Roger, I’ve got someone who knows me well enough to be honest with me, and I’m so grateful for that.”
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KNOW WHO YOU ARE
By facing her challenges, Hilda was able to redefine who she was and what she stood for.
“People dream of making a business successful when they’re young, selling, and retiring early, but then you get there, and everyone else is still out there working; it gets very boring very quickly. I went down the road of rediscovery of myself. I looked at what I liked and what I was really interested in.”
“I’d been busy building other brands and businesses, but I needed to build myself based on my true identity. That’s the secret to creating a meaningful and successful personal brand - to build it around things you enjoy and would like to be a part of in the world.”
With this mindset, Hilda set about creating her personal brand as a venture philanthropist, humanitarian, and conscious investor.
“I think clarity of who you are is the most important thing. Spend more time on who you are and what you want to stand for before creating a brand and then fine tune it as you go along. It’s very difficult to create your brand on your own, so I involved outside people such as friends and those that know me in order to help me see how others view me. I became an authority in a specific field, built trust, and familiarised people with my impact goals. Now, I don’t have to look for projects; the right ones come to me.”
Hilda created her Best Life community, a social media strategy aimed at encouraging others to create a vision for their future with meaning and a focus on the impact they have in the world.
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Hilda’s time is now spent supporting the four companies in which she invests and their CEOs who are aligned with her vision for the future. She is also involved with philanthropic projects such as Tekkie Tax, a national South African fundraising initiative for which Hilda acts as an ambassador and campaigns for the improvement of the lives of children.
Join us here http://bit.ly/2zZTvof and be a part of World's #1 Entrepreneur Event- Fast Forward Summit 2017.
In Scott Farquhar’s case, $3.5 billion. But only because he replied to it.
In 2002, 22-year old Australian Mike Cannon-Brookes decided to send an email out to some of his student friends during their final year of college: “Do any of you want to start up a company with me?”
Everyone ignored the email except Scott, who replied “sure”.
With no other takers, and a $10,000 limit on Mike’s credit card, the two started a software company straight after college.
Seeing their friends go and get jobs with companies instead of joining them, Mike says “our only goal was actually to pay ourselves as much as they were getting paid, which was $48,000 a year. So that was the goal of starting.”
With that goal came one principle: a "high commitment to legendary service.” Thinking of the Greek Titan, Atlas, MIke says “Atlas was a naughty boy who was banished to hold up the sky. We felt that was the original legendary service effort - providing a service to humanity.”
“We turned it into an adjective. Sort of an ‘Atlassian’ effort.”
So they named their company ‘Atlassian’.
Atlassian grew, with products like Jira, Confluence and HipChat. It grew to over 60,000 customers and over 2,000 staff.
As Scott says, “Over time, our website morphed and our company morphed and we moved from a support company to a one product company, and now we’re a software portfolio company
Two years ago Atlassian listed on NASDAQ and, at $4 billion, becoming the biggest tech company in Australian and the biggest US tech IPO of 2015
Then, this week, Atlassian released its first-quarter report, showing 42% year-on-year growth. The shares jumped, now valuing the company at over $11 billion.
Both Scott and Mike’s net worth have grown by another $600 million each this week.
Plenty has happened on their journey, but it all began with a reply to an email. A reply that today gives both of them a net worth of over $3.5 billion.
Are you like Mike, and when there’s no opportunity knocking you build your own door?
Are you like Scott, seizing the opportunities when they appear?
Or are you like everyone else who got the same email, and pressed “delete”?
We are only as poor as our choices.
“If a window of opportunity appears, don’t pull down the shade.” ~ Tom Peters
When Buckminster Fuller said "Our children are our elders in universe time", he meant that they are advanced versions of us, born in a future, more advanced time.
Should we not then expect to provide them with an education upgraded from our own?
Today Genius U posted this story about Angie Stead and Rustica Lamb, written by Kathleen Hamilton about the future of education. I'm so excited to be a part in the coming revolution in education. Would you like a Genius School in your country?
Genius School: All children are geniuses
What if education could be personalized to bring out the best in every child?
Angie Stead believes all children are geniuses. “A one size fits all model doesn’t help anybody, it doesn’t grow and nurture people. Education is a very emotional and individual journey, and even though we’re doing great things globally to improve the education system, it still doesn’t do right by children.”
“We are all Einstein, the challenge we face is that the system dulls us down.”
Angie is on a mission. She first built ‘Magic Sparks’, four early childhood centers in New Zealand, and then launched ‘Education Angels’ which is now one of the largest home-based child care and education networks for 0-5-year-old children.
She says, “The pace at which these children learn when their natural curiosity is allowed to shine is incredible. It saddens me when we have our ‘go to school’ celebration because I know over time they will struggle to keep that natural curiosity alive.”
So Angie decided to do something about it.
Two years ago, through a series of synchronistic meetings, Angie met Rustica Lamb, an Education Entrepreneur and learning designer, at an Entrepreneur Retreat in Bali.
Together they began working on creating a school in New Zealand based on the Green School in Bali. Green School is a non-profit, pre-k to grade 12 school, focused on holistic and student-led education, with an emphasis on sustainability.
Rustica’s people-skills complemented Angie’s creativity, and together they began planning their dream of a new school. But it didn’t come without it’s challenges. After securing a piece of land in the New Zealand bush, lack of government approval for a road to the site resulted in a literal dead-end to their plans.
The two persevered and in February 2017, at the next accelerator program they joined, Wealth Dynamics Masters in South Africa, the Genius School was born - a fully inclusive, global school with an online, open source curriculum and community that any individual, class or even an entire school can be a part of.
The Genius School was created in partnership with Roger James Hamilton, a futurist and social entrepreneur, who was also a mentor at the Masters program. Roger says “I had flown to Africa straight from Silicon Valley, where the main conversation with the tech founders I had met, was on how to revolutionize the education system.”
“From Elon Musk’s Ad Astra school that he had created for his kids, to X Prize Founder Peter Diamandis’ Education Principles, everyone had ideas but no one had worked out how to scale the ideas into a global system. With Angie and Rustica, we worked out a system that we believed really could scale - by mixing virtual learning with home learning and local learning experiences with a global community.”
In reflecting on the process of the Genius School idea, Angie said “It’s funny, because with the new model we don’t even need a traditional school structure. We thought we were forward thinking because we had round rooms instead of square ones… and now there are no rooms at all!”
The excitement in the new Genius School led to educators in eight countries wanting to start schools straight off the back of the presentation in South Africa, and in early October over 800 people applied to be amongst the first 15 Genius Educators in the Genius School Pilot program.
What makes the Genius School so different? Three genius pillars: A unique curriculum, a unique funding model and a unique organization model, designed for the 21st century.
A unique curriculum:
The Genius Curriculum begins around a personalized path for each child, where they become aware of their natural passions, talents and what is most meaningful to them, and then they are mentored on an education path that is designed to ignite their genius.
A unique funding model:
Based on the ‘Renaissance triangle’ which created the DaVincis and Michelangelos of the world, where private sponsors like the Medicis took responsibility for igniting the geniuses of their time, the Genius triangle also includes three stakeholders:
The Students, who learn through single courses, camps and schools; the Educators, who are parents or teachers trained to teach the Genius Curriculum; and the Sponsors, companies who sponsor programs and students as part of their training budgets, ensuring they are nurturing future leaders with the skills they already have a shortage of through the existing education system.
A unique organization model:
Instead of being for-profit, non-profit or state-run, the model of the Genius School is a publicly owned organization, where all surpluses are put back into the organization. Everyone who contributes to the school - as educators, parents or students - get a share in Genus School, and thereby a vote, ensuring a democratically evolving education system (and no one can own more than one share).
Surplus money coming through the company each year will go into a fund to support graduating student’s projects - like starting a business, or a purpose-driven project. In this way, the Genius School will measure its success by the future life success of its students, rather than the current systems that measure success based on how many students graduate, irrespective of their future success.
Within nine months, the Genius School has gone from concept to reality.
Angie says she can’t imagine how the world might look if all children had access to education like this - it would be beyond her wildest imagination. “The levels of intelligence, creativity and communication skills - none of us can imagine what the world will look like. I do know that we’ll be more fulfilled, more successful, more loving and more giving when children are having their emotional needs met through education that really centers around their success.”
What if learning environments could be created that support children holistically, empowering them to learn in the way that works best for them?
That’s exactly what Angie and Rustica hope to create through the Genius School.
The first training for educators is on the 8th to 11th of November in Bali, where founding educators will come together for the first time to co-create the future of education.
Will you be a part of the education revolution?
In the week that one Bitcoin hit a record $6,000, and its market cap went over $100 billion, is Bitcoin a good investment, a bubble, or a big scam? Answers below:
Last month JP Morgan CEO, Jamie Dimon said of Bitcoin: “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart. It is worse than tulip bulbs..it will eventually blow up.”
On the other hand, this week, Fundstrat Global Advisor Tom Lee set a mid-term Bitcoin price target of $25,000 (Over 4x times today’s record price) saying “You could easily get to $100,000, $200,000 numbers.”
Yesterday, Hedge Fund Manager, Mark Yusko (who a few months ago said “The US stock market is going to have a crash and it will be massive.”) tweeted his long-term target for Bitcoin: $1,000,000.
If you have been equally baffled by the crazy growth of Bitcoin, ICOs and Cryptocurrencies (The industry has grown from $20 billion in January to $140 billion today), this post is for you. I’ve simplified (while trying not to over-simplify) what’s going on here. I also tell you whether I’m buying Bitcoin or running the other way:
In 1875, Economist William Stanley Jevons defined money as having a number of functions, of which the two biggest were as a “medium of exchange” and as a “store of value”.
Anyone (including Jamie Dimon) who think of Bitcoin as a “medium of exchange” would of course see it as a scam and a massive bubble. How could you have a made-up currency that isn’t backed by anything? How could it be worth so much if it’s still so difficult to buy things with it? Surely everyone will realize eventually and the price will crash?
All those who see Bitcoin as a “store of value” are the ones who see its price continuing to grow.
Why? In justifying his $25,000 target, Tom Lee says: “Bitcoin is our digital gold. The gold market, which is 9 trillion, and for a generation of investors gold was their store of value. I think this next generation of young people view bitcoin as their store of value.”
Is Bitcoin the new gold?
In 1996, at the dawn of the Internet, Douglas Jackson had a dream of a new digital gold that wasn’t controlled by governments, and he launched “e-gold”. It grew rapidly and by 1999, the Financial Times said it was “the only electronic currency that has achieved critical mass on the web.”
By 2006, e-gold had over $2 billion worth of transactions a year, and that’s when the FBI shut it down overnight through a series of raids in “Operation Goldwire.”
The mystery creator of Bitcoin, “Satoshi Nakamoto” has remained hidden so governments (who would be most threatened by not having control over their citizen’s money) could not easily close Bitcoin down as they did with e-gold.
He wrote at the time of Bitcoin’s creation:
“As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:
> boring grey in colour
> not a good conductor of electricity
> not particularly strong, but not ductile or easily malleable either
> not useful for any practical or ornamental purpose
and one special, magical property:
> can be transported over a communications channel”
In other words, imagine if Bitcoin could do a better job than gold as a pure store of value.
How does Bitcoin compare to gold?
According to Thomson Reuters, the total gold in the world is just over 5.8 trillion ounces, with around 80 million new ounces mined each year. That compares to 16.6 million bitcoin, with the number of bitcoins mined halving each year, leading to a maximum of 21 million bitcoins with the last being mined 123 years from now, in 2140.
Bitcoin by design is limited in supply. Gold was also meant to be limited. But science has evolved to the point where gold is at the point where it can soon be created synthetically https://www.cnet.com/…/bling-researchers-create-24k-gold-i…/
So an increasing number of investors are choosing to use Bitcoin as a reserve over gold, and the current price rise in Bitcoin can be linked to the following three upcoming events:
1) THE NEXT STOCK MARKET CRASH
During this week - the 30th anniversary of Black Monday 1986, the worst stock market crash in history - many investors are warning of the potential of an even larger crash from the record highs we are seeing today.
In a CNBC article, NYSE trader, Kenny Polcari, wrote about the possibility of an upcoming crash:
“Can it happen again ... even though we have circuit breakers? Yes it can. But, it would be different this time because the speed at which it can happen is mind-boggling. Technology allows for anyone with a computer to access the markets, sending in orders for execution in a fraction of a second.” (Today over 90% of all trades are automatic computer-generated trades).
As people see the stock market as an increasingly risky bet, parking money in bitcoin becomes more attractive.
2) THE COLLAPSE OF THE US DOLLAR
This year China has become the world’s largest importer of oil, and last week it was reported that they are now compelling the UAE to sell them oil in yuan instead of US dollars. They have also jointly announced with Russia the “Yuan-Ruble” to increasingly bypass the use of the US dollar and create a new global reserve currency.
As people have less trust in fiat currencies - and especially in the global reserve currency - they will turn to a reserve they can access - like Bitcoin.
A striking example of what happens when people don’t trust their own currency played out this week in Zimbabwe.
Following the failure of Zimbabwe’s money system - first when Mugabe printed so many Zimbabwean dollars that its value dropped to zero, then when he switched to US dollars as the main currency only for it to now be in short supply - this week Zimbabweans buying Bitcoin have driven the price up via local traders to close to $10,000 per bitcoin - almost double the global price.
3) THE NEXT GLOBAL FINANCIAL CRISIS
In the same way that CDOs were already highlighted as a source of a crash before the 2007 Global Financial Crisis ten years ago, ETFs (Exchange Traded Funds) have now been highlighted for months now by the investment community as the likely cause of the next crash. They have ballooned since the GFC by 500% to $4 trillion, with $400 billion invested in the first 8 months of this year alone.
ETFs are passive but leveraged funds that grow faster than the stocks or assets they back - which is great in an up market. But the moment the market turns, this money will exit fast, rapidly increasing the speed of any downturn in all assets.
Allianz Chief Economic Advisor, Mohamed El-Erian said of ETFs “It is a huge risk of contagion. People are forced to do things they don’t want to do, and the next thing you know the real economy is at risk.”
Last month, BIS Chief Economist, Claudio Borio, added the next Global Financial Crisis will hit “with a vengeance.”
The result of all these warning bells, together with the increasing volatility of governments themselves, is leading more and more people to seek safety somewhere, and that somewhere for an increasing number is Bitcoin.
As Tom Lee said three days ago: “I think this next generation of young people view bitcoin as their store of value. And if it captures 5% of the gold market, it’s worth at least $25,000 per unit.”
He also added “In the short-term, we think bitcoin will reach at least $6,000 by mid-2018.”
It took just two days for the price to rise beyond that.
The market size for cryptocurrencies has grown by 800% in the last year. Just as people scratched their heads when adoption of the Internet grew at the same pace in the 1990s, hyper-growth may lead to a bubble but also may be the beginning of a new paradigm.
As governments begin to issue their own Cryptocurrencies (this month Dubai launched emCash and this week Russia announced their CryptoRuble), trust in governments and our current finance markets continues to fall, So don’t be surprised to see the value of Bitcoin and some of the other cryptocurrencies continue to rise - despite volatility and even big drops in the short term.
That doesn’t mean rush out and buy Bitcoin if you need the money for other things. But hopefully from this post you can see that the rising price isn’t simply the result of crazy people.
As for me, even as it hits its all time highs, I’m buying.
Because compared to multiple un-safe homes for money, it feels safer. Because I finally understand it better. And because I believe one-way-or-the-other, our current money system needs to change.
“I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting.” ~ Richard Branson
Being an entrepreneur is hard. Being a female entrepreneur is even harder.
After decades connecting with thousands of women entrepreneurs, it’s clear that one of the toughest professions out there - entrepreneurship - is even more challenging for 50% of the population. Having seen it firsthand, I thought we could do something to support this empathetic, hardworking and amazingly creative half of humanity. Not just for them, but for all of us.
The struggle of women has been well documented since the 60’s. This doesn’t mean women have it just as easy as men do now, or that everything is equal in the 21st century. Not by a long shot. After all, the NY Times reported not long ago that there are more men named ‘John’ owning top businesses than there were women. So, there is much progress to be done.
Female entrepreneurs face many challenges, including financial help. On average, women receive 80% less first-year funding capital than men. Yet in most cases, the higher the number of female entrepreneurs a country has, the stronger its economy is. The top five countries for women entrepreneurs are Germany, France, Sweden, Australia and USA. Not coincidentally, these countries have the strongest economies of their region.
Why is this? According to the Kauffman Foundation, women entrepreneurs have three traits that men don’t always have: 1) A more nuanced view of risk, 2) greater collaborative creativity and 3) a better chance of financial success -- as women CEOs usually reinvest profits back into their companies. So, with that in mind we would like to create a special opportunity to help 15 women with bold ideas, and the willingness to try them out.
On the 26th of November, we’ll be running a 15 day iLAB Accelerator in Bali dedicated solely to Women’s Leadership Entrepreneurs. Anyone interested in a better, more dynamic and fairer economy is welcome to join. We will explore all the ways female-backed startups can succeed in the modern world, including challenges and opportunities, while finding solutions to bring their ambitious goals to reality.
We run these iLAB Accelerators many times a year, yet the need to cater specifically to female entrepreneurs has only gotten stronger through the years. A recent report by Dow Jones showed that most successful venture-backed companies in the U.S. had around twice the number of women on the founding team. Yet, on the Dow Jones S&P 500 companies list, only 4% of CEO positions were held by women.
It’s time to do more for them.
During our Women’s Leadership iLAB Accelerator, we’ll provide mentorship from top entrepreneurs (many of them women) who know what it takes to make a business successful. Anyone who joins will learn modern tools and techniques to advance their business. Plus, in the backdrop of our Balinese paradise resort, you can thrive in the company of other female entrepreneurs, eager to motivate each other’s ideas.
Importantly, becoming a full-time women’s leadership entrepreneur is not just about making your professional goals a reality, either. It’s also about freedom and happiness. According to Inc. magazine, “Women entrepreneurs in the US rank their happiness at nearly 3 times that of women who are not entrepreneurs or established business owners.” And, there is even more cause to celebrate.
According to the ‘State of Women-Owned Businesses in the U.S.’ report by Womenable, the number of women-led startups has increased five times faster this decade than the national average. International number are similar, if not stronger. We also foresee this trend growing year after year. Additionally, I’ve personally seen my business ventures gain a lot from having multiple women in leadership positions.
As companies like The Entrepreneurs Institute have gotten larger, we’ve needed more people within who are good at collaborating and communicating between teams. Women are naturally good at this, as well as coming up with innovative, yet realistic ways to solve problems. This is not to disparage men of course, but about creating equal opportunities. And the more opportunities for everyone there are, the better our world will be.
You can find out more about the iLAB Accelerator for Women’s Leadership Entrepreneurs, here.
Richard and Kerry Flanagan, entrepreneurs from the UK, had been running 8Ball, an e-commerce T-shirt business, for a number of years when Google and Facebook changed their search results algorithms. In turn, Richard and Kerry saw their business decline but decided to use this setback to start a more impact-focused and lifestyle supportive business - T-Shirtify. It offers companies personalised merchandise as well as full e-commerce services. A year later, the couple finds themselves running two successful businesses, hitting record sales, and having the most free time they’ve had in years. This is how they did it.
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DISCOVERING THE ‘BIG WHY’ IN BALI
Richard and Kerry had already been to Fast Forward Summit, one of the world’s most popular entrepreneur events, and saw the impact that mentoring from Roger Hamilton, a social entrepreneur and futurist, could have on their enterprise. So, it was only natural that when they needed guidance, they turned to Roger and iLab, a two-week business accelerator programme Roger founded in Bali.
“When we came to iLab, we already had a couple of clients with T-Shirtify, but we needed to know how to build the business differently from the ground up.”
Through the programme, Richard and Kerry created a promotion plan for their new enterprise which detailed their key financial and developmental objectives as well as milestones. Additionally, the plan developed an awareness of what really differentiated them as a business.
“Before we just saw ourselves as T-shirt printers,” Kerry explained. “However, iLab made us realise our real value; it’s not just the product or service that’s valuable, it’s our knowledge.”
Richard and Kerry’s lightbulb moment during their time in Bali was realising the importance of having a greater sense of purpose.
‘We didn’t have a ‘why’ before. We were just doing business,” said Kerry.
Richard agreed. “What we do now is help people get into a flow by asking them what they really need and adding something extra to help them achieve it. For instance, we started running Facebook marketing tests for clients for free, and we proved that we could add 20% to their business turnover. As a result, we integrated that into our business. That’s the real reason we stand out from our competitors.”
“Clients will approach you thinking it’s all about how much money they can make,” Kerry continued. “But when you take the time to fully understand their requirements and pain points, you can offer them so much more. That’s what really satisfies us.”
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NURTURING THAT ONE CLIENT
After iLab, Kerry and Richard also joined Roger’s Crystal Circle, a high-level mentoring programme for entrepreneurs. At the outset of the business, they found it to be challenging.
“We were connecting with people frequently, but we struggled to get them across the line. Roger advised us to just nurture the clients we did have and to keep adding value to them. That was a lot easier to do!”
During a mentoring session, they defined that they needed five clients to bring in £30,000 per month.
“We had this top-line turnover figure that was a priority in our minds because it seemed easier to acquire five smaller clients than a couple big ones. What we hadn’t realised is that five clients meant five times the work! When we connected with a new potential client and started the conversation, I looked at the size of his business and realised if I focused my energy on him, it would fulfill our turnover figure.”
In turn, Kerry and Richard decided to focus on nurturing that one client and provide him with as much value as possible for free.
“With Roger’s help, we curbed all our tendencies to get distracted and focused on the strategy,” said Richard. “We looked at what the client needed and what we could give him for free such as analysing traffic on his website, ensuring quality of prints, and looking at his Facebook strategy. We realised he was wasting tons of money, so we showed him how he could have the same amount of revenue but save £60,000 a year on his budget. That’s how we developed trust, and from there, we started talking more about production.”
Kerry agreed. “When you have those conversations and add the value in the back end as well, you don’t have to try to convert the customer; it just happens. Building trust early is an easier way to bring that customer home, and it is much easier than spending money on marketing.”
By building trust and offering value, Richard and Kerry secured the big contract, bringing in the revenue of five smaller clients with just one.
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RHYTHM AND PROFILING EQUAL SUCCESS
Richard and Kerry built T-Shirtify systematically and with a greater sense of clarity using the Wealth Dynamics Profiling system, which helps entrepreneurs discover their personal path to wealth creation. The couple used the WD test to determine their team members’ personality types.
“By knowing our individual profiles, we established a really efficient team,” said Kerry. “Specifically, we integrated the Wealth Dynamics language into our team meetings, and everyone understood their roles. It made our communications really smooth. We continually asked Roger how to keep people happy and aligned, and we learned that when you recruit new people, you’re not recruiting for a job title but a profile. This approach is quite strange at first but definitely more effective.”
Empowering the team has also been the couple’s priority.
“With Roger’s support, we’re helping our team to become leaders and move up the spectrum; in turn, we can too. We’re operationally excellent, so nothing is falling through the cracks. New customers are important, but we’ve got to nurture the team. There’s multiple things occurring at the same time, but it feels right.”
Richard and Kerry also sought to find their own rhythm as a couple, a young family, and co-workers as they knew this rhythm was going to be a major contributor to their success.
“We follow Roger’s system and always stick to our weekly rhythms. Every day has a different focus and energy; sometimes, it gets interrupted, but we try to stick to it, and it really works for us. To stay aligned as a couple, we work on the same days, and now, we can work from home. We’ve recently taken time off, and it feels good knowing the business is running smoothly without us present. We’ve been able to spend more time working on our health and exercising. That’s been key - a healthy lifestyle and a healthy mind.”
With a perfectly functioning team, Richard and Kerry took a longer holiday in Italy in July and saw their businesses hit record revenue without their active involvement.
Kerry concludes, “Since February, we’ve grown 12 times the size in under six months, and we’re projecting it’ll double again before the end of the year, which is impressive for something that was in a testing stage at iLab. The key thing for me is recognising that you don’t need to keep putting the foot on the gas all the time.”
In terms of revenue, T-Shirtify was sitting at about £60K annually, and by the end of the year, it’ll be at about a million.
What is your bigger ‘why?’ Who is your one customer for whom you can provide massive value? And what rhythms could you develop to set yourself and your team up for success?
“Luck is preparation meeting the moment of opportunity.” -Oprah Winfrey
Join us here http://bit.ly/2hTgHzd and be a part of World's #1 Entrepreneur Event- Fast Forward Summit 2017