Find a Mentor in your local area

Looking for a mentor? Good, you’re on a strong path. Still can’t find a mentor to start with? I know of several mentors in all parts of the globe – they are eager to coach and guide you to greatness. Don’t know who or what I’m talking Mentorabout? You should. The process of attracting these mentors has become a lot easier now – easier than it has ever been in the history of human-kind’s existence. And it is all right at your fingertips; in fact you are using it right now.

Your access to the internet provides you with an opportunity to connect with mentors young and old, alive or passed on that no previous generation of human beings have ever had. We have always been separated by large distances, vast areas of land and oceans, lack of tv, radio, and telephone connections. But that doesn’t exist now – it has permanently been eradicated due to the appearance of the internet on the world scene. Now a mentor is a click away; a download away; an audio book away; an e-book away; a webinar away.

As of this very moment I have 12 gigabytes of my various mentor’s teachings, learnings, mistakes, advice, guidance, coaching, etc., – the very skills and tools that I require to craft my own life in the direction I choose. That represents 1,966 individual files, in other words 1,966 lessons on personal development and living a life of harmonious success. They are eager, willing, thoughtful, insightful, challenging, positive, motivating. All of this at my fingertips. All I need is my laptop or mp3 player and a set of headphones, and my mentors are ready to assist me.

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Your ULTIMATE secret to success – 4 supercharged tips

In my ongoing research of exceptionally wealthy and valuable people, I have found a few common denominators that is consistent amongst the majority of these individuals. Not fairly consistent, not maybe consistent; but absolutely consistent! This lead me to look at formulas of success – is there a proven way to become harmoniously wealthy? To enjoy life, relationships, vacations, toys, etc, etc.?

It seems like there is such a formula! I was watching a presentation that Canadian Billionaire Michael Lee-Chin delivered to a banquet of top-notch investment advisors and he blurted out the best summation of the absolutely consistent common denominator I mentioned above:

1.    Find a wealthy individual whose success you respect the most.

2.    Find out their Recipe for Success. Keep digging, calling, reading, and learning, until you find the foundational recipe.

3.    Implement the recipe exactly in your own life.

4.    Most important step: DON’T CHANGE THE RECIPE!!

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Mentorship and the Value of People in Business

What has always surprised me is that the people who generate incredible amounts of value for humanity, and consequently tremendous wealth for themselves in the process, are happy to share that they had help from someone on a higher plateau, a mentor who took them under their wing. However, the majority of people I come across seem intent on proving that they did it all themselves, that they achieved some form of ultimate glory by not enlisting the help or services of anyone else.  To each their own, I suppose, yet I believe the former provides the path to greater, more harmonious riches.

The fortunate thing is that with the dawn of the internet, some mentors can be found more easily than they used to. One of the most incredible things that the United States has ever produced is a segment of the population that turned out to be exceptionally value-driven, travelling mentors. The likes of Jim Rohn, Zig Ziglar, Og Mandino, Brian Tracy, Tom Hopkins, Denis Waitley, and the list goes on. These are people who, with much fewer distractions than our age, were able to bring incredible value to the marketplace and to people’s lives. They struggled through the Great Depression, World War II, and somewhere after the time of military-structure corporate America, they realized there was a wind of change coming – one that could empower the individual to take responsibility for themselves in a way that was not entirely possible before. A person had not only the right to free speech; they also had the implicit right to wake up as early as they wanted to; to work as many hours as they wanted to; to work as many jobs simultaneously as they wanted to; to care for their reputation and their customers reputation as much as they wanted to, etc., etc., etc.

Here is a sample of Jim Rohn talking about personal development and why you should value the people you interact with.

Is it possible to make your money work hard for you?

Life is a game that consists of a number of sub-games: health, wealth, spirituality, self-development, etc., which in turn have their own number of periodical mini-games.

Alternatively, life can be seen as a delicate act of juggling multicoloured balls, and each ball represents an aspect of your life: family, health, mental well being, money, etc. Now picture yourself juggling these items and suppose you drop the money ball. You soon discover, fortunately, that the money ball is made of Jugglingrubber, it bounces right back and soon you are on your way to juggling again. But suppose you drop any of the other items – family, health, mental well being – and you discover they are made of glass; once shattered, they can never be put together entirely again. There will always be pieces missing. So make sure you take care of those first.

Now, ways to get that money rubber ball to bounce back.

I came across an article on called “Don’t get peanuts on your savings” by Ellen Roseman. In it, the author goes on to explain large financial institutions, such as CIBC, RBC, TD, Scotiabank, BMO, etc., are providing their customers with very low “high-savings” interest rates currently sitting anywhere in the range of 0.5% to 2.2% per year. It is worrisome to see these rates of return especially when you consider that the average rate of inflation in Canada is above 2.0% per year. Yikes! In other words, if your money is sitting in a bank account or basic savings account, you are effectively losing money unless you are invested in something that provides a higher return than inflation and taxes combined!

The simple rule of thumb here is that banks do what’s good for banks first; period! That’s why they have the nicest, tallest buildings in every city. The responsibility for your financial well being, just like everything else, relies solely on your shoulders. You have to find ways to make your earned income work hard for you. This is what makes people wealthy – their money earns more money through sound investment.

Throughout this blog I have shared thoughts on wealth management. Do some research, and execute.

Gold vs. Real Estate vs. Paper

I hear this question a lot and I would like to share with you my opinion on the matter.

I decided to write about this topic today because I recently came across an article on Yahoo! Finance with the title “5 metals that may be brighter than gold”. I’ve included a short snippet of the opening statements here:

5 metals that may be brighter than gold

To give you proper context on this subject, let me start by helping you see where the author of that article, Tim Begany, is coming from. Tim is an experienced investor and financial journalist whose financial planning strategies seem to be grounded in paper investments (read about Tim here). As a result, the suggestions he makes for alternatives to gold do not surprise me because it seems to represent a large section of the financial advising and planning industry. He is a ‘paper’ guy – he talks about how most precious metals investors purchase exchange-traded funds (ETF’s). Why anyone would suggest an alternative to gold as a store of value in the first place boggles the mind, yet it continues.

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ABL – Always Be Learning

If you’ve had anything to do with sales you will have come across the “ABC” of sales that being:

A – always   B – be   C – closing.

The best person to over dramatically tell you about the “ABC” of closing is Alec Baldwin:

I was considering today that while closing is an incredibly strong requirement in almost anything you do, whether you realize it or not, an almost equally important requirement is learning. Yes, that’s right, you may actually have to learn something after your schooling years. And modern research shows that people learn best through the use of pictures and moving images with sounds. So while I’ve provided one example above, here is an image that I will talk about below.

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Safe Investment vs. Secured Investment

Safety requires that you may do something along the lines of what the previously mentioned article indicated: put your money in very low risk paper investments managed by someone else so you can see your numbers go up slowly, but you’re not really getting ahead.

Security can put you in a position where you have full or part ownership in the asset itself, thus having much greater control and if you’ve got the right assets, you’re hedged against inflation.

Let’s use some examples: paper, gold/silver, real estate – all of which can be bought and sold as paper (ETF’s for gold/silver and REIT’s for real estate)

Paper investments: Certainly not my favourite because it is so volatile. Global economies, currency wars, quantitative easing (i.e. pumping money into the economy), lack of control, etc. I’m sure people can rattle of a number of positives, and that’s fine, I’m merely stating my opinion. Looking at the Dow Jones Industrial Average (Wiki Link) we can see that it’s had some trouble in recent years and has always been prone to booms and busts. In the first graph, you will see the recent economic meltdown we went through and the subsequent rise of the DJIA. Keep in mind however, that this rise is fully due to the amount of money governments pumped into their economies to keep them afloat.

Dow Jones Industrial Average vs Gold

Therefore, when compared to gold in the second graph, you will notice that the DJIA has fallen and remained stagnant. Additionally, if these paper investments tumble further or are wiped out, you’re left with nothing, because you owned paper, not the actual business. So paper may be safe, but it certainly isn’t secure.

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Inflation is like a thief in the dark, and it’s in your pocket

I had recently presented the RKG Investment Solution to the President of a wealth management firm in the Greater Toronto Area and I had mentioned that, in my view, there is a shortage of investment options. As I see it, there’s mostly just paper investment – stocks, bonds, mutual funds, GIC’s, etc. Commodities such as gold, silver, platinum, wheat, cattle, grain, etc., exist, but are difficult to store and manage, so the natural progression for these has also been Real Estate is my answer to beating the inflation gametowards paper investment – ETF’s (exchange-traded funds). And then there’s Real Estate; this is the playground I’m in.

Now the President of this wealth management firm listened patiently and then stated that he disagreed with my view on the shortage of investments. In his eyes, there are many investment options (mind you, they’re all paper based) however he did point out that an investment in Real Estate is one of the few secured investment vehicles out there. And on that note, I decided to point out the difference between Safe and Secured.

I had previously come across an article on Yahoo! Canada Finance dated Friday, August 27, 2010 with the title: “Safe investments with reasonable returns”. Naturally this piqued my interest because I am always interested to see if anybody mentions Real Estate. With a hefty lack of surprise, I found out that this article, like millions of articles on personal finance, talk about investing in the stock market via large funds. It certainly would be valuable to readers and action-takers to have guest columnists exposing the opportunities of various investment vehicles, not just the stock market. In the mean time however, I’ll go over it a little.

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Goals – can they be achieved/manifested?

This is a response I posted on John Assaraf’s facebook account when he put forward this question:

John Assaraf: hey friends- why do u think people give up on achieving their goals so easily? If it was easy, everyone would be happy, rich, skinny. in love, happy, etc-

Ryan D’Mello: I believe it is a convergence of a number of factors:
1. sense of entitlementPersistent effort to achieve goals
2. lack of immediate results
3. constant media frenzy
4. lack of self confidence and self worth.

Prior to 1900 AD, everybody had a business, and that business was to take care of themselves by growing their own crops, or bartering by providing something of equal value to a meal. So people have a true, real world value associated with each seed the sowed. You just KNEW that time and constant care (action steps) were a requirement for a good harvest.

now, many things are taken for granted. the expectation is that one seed sowed should produce a whole acre of harvest; i.e. expectations are high, and people forget to celebrate the small victories along the way to keep momentum. media gives you entertainment, not improvement, and i’ll leave it at that.

Recommended reading: “The World is Flat” by Thomas Friedman and “Outliers” by Malcolm Gladwell.

What to do when the economy slows down

In a previous post I mentioned that I had attended The Annual CEO Outlook Conference held at Ryerson University. Another one of the business owners whose mindset I liked is Steve Gupta. His Easton’s Group of Companies owns 10 Four Star hotels in Ontario with another 5 in development. Yes, that’s right, he’s actually developing hotels in the middle of a recession. Awesome stuff huh? Read on.Be contrarian.

You can read up on Steve Gupta on Google. I’m going to talk about his recession busting mindset. Steve is a self described contrarian, in other words, he runs opposite to the herd. So while CNN and FOX are busy screaming about the sky falling down and scaring everyday people stiff, Steve is dipping into his cash reserves, partnering with investors, negotiating loans and contracts to develop more hotels. If I remember correctly he said he was working on a rare jewel – a Seven Star hotel in Brampton. All this, while everyone else is in mass hysteria.

I can hear you now. “Oh, he’s got millions of dollars.. he can do what he wants”. He came to Canada from India in the early ’70s with $108.00 in his pocket. That’s One Hundred and Eight dollars. How much money did you have when you were 30?

So, what gives? He drinks the same water as the rest of us, eats food just like the rest of us, and even takes a bath like some of us; why isn’t he running scared like the rest of us? Previously I mentioned using the experience of current business owners to help collapse your success timeframes. This is one guy you want to run with, instead of the herd. Steve realizes that during times of great commotion like we had recently, it pays to strengthen your offerings, or otherwise re-invest in your organization. I’ve found this especially true of rock solid leaders. Where others may look to close up shop, slash employees, and ease their burden, good leaders may opt to forego short term value and instead look to invest in the development of their employees, buy other businesses, or create new opportunities for long term value.

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