Ever heard of that adage “It takes money to make money?”
As lots of us in the Millionaire Mind community know that’s just not true. It lends toward confidence and a sense of “safety”. It can make things more expedient, but is money absolutely necessary to, for example, start a business? The answer is no. You just need to learn how to be flexible and to use creative financing to your benefit.
Use Creative Financing To Gain Flexibility
Many millionaires have lost it all, fell into extraordinary debt, and still found a way to bounce back.
“It takes money to make money” is something people to make themselves feel safe and secure in their inaction. Then they don’t have to leave their comfort zones and really go out there and get it. Maybe a lot of people just don’t know that there are other ways to finance endeavors.
That’s why I plan to touch base on a few fundamentals when it comes to looking for capital. The hardest part, believe it or not, is imagination, which is actually easy once you really grasp it. The wealthiest people in the world didn’t get to where they are by doing what everybody else does. Wealthy people use creative financing.
While time can be a factor, there are some basic options to think about before you start:
Option 1: Don’t Start Yet.
Wait. Do something else with your time and skillset that doesn’t require a large sum of money. This is very obvious, yes, but it needs to be said. You don’t have to hit a home run your first time up at the plate. Get a couple of singles, maybe a double, and gain some confidence.
Option 2: If It’s Not Working, Do Something Different.
We all have these plans, sometimes they work, sometimes not so much. What do you do when the Universe says, “Nope, this ain’t happening?” Get frustrated and start beating yourself up? No. Just try it another way the next time.
Learn To Be Flexible With Your Plans
There are people who will wait until they think a plan is totally perfect and seemingly solid before they take any action. These are the types that get easily frazzled and distracted when that rock solid plan starts showing some cracks. You have to be flexible and ready to accept that maybe you need to try something else. Flexibility is the key word here.
There are always means toward starting something. You don’t have to have the ultimate plan right away. Start where you can, where you are, and with what you have. As counter-intuitive as it may seem, one of the first rules of financing is: You don’t need the financing! Change the way you’re going about it.
Common Sources Of Creative Financing
The more common sources of financing are things like bank loans. You could also find someone with collateral who would be willing to co-sign a loan as this is another standard method that tends to be forgotten. Most people started their finance history with a co-signed loan, whether it’s school, their first car, or first credit card. This is another reminder to keep good relations with those closest to you.
Private lending parties are another option, or partnering with someone who has the collateral. The easiest way to get money is home equity. When you have some equity in your home or something else that they can take, getting money is usually not a big problem.
But, now let’s talk about something that can change the whole way you do business. This is going back to the basics of business, which is buying and selling. Only you reverse the order. Pre-sell your product or services before you have to buy or deliver it.
Generate Cash Flow
I have never had a problem with cash flow in my life because I insist on doing this before and during the enterprise. This isn’t just for initial financing, but as an ongoing rule of business. Think about it and ask yourself, “Why should I pay for the product? If you want it, you pay for it.”
The customer is just paying for the product a little early. The typical mentality of business is that people want to see the product before they buy it, even though they’re not really seeing anything except the product’s packaging most of the time
Remember: the mind of a millionaire can’t think like everyone else.
Who says the money can’t come until the customer gets their product? People pre-order things all the time. The key is to create or take advantage of a demand, or even a perceived demand. That’s where marketing comes into play, which if done effectively can be much cheaper than actual production.
By reversing the buy/sell order, you also cut down on carrying costs. Let’s not forget the risks you cut down on by not over-producing and then not selling. Instead, sell to a high volume buyer from a sample or a prototype. For goodness sakes: don’t produce 1,000 or 10,000 of something and then try to sell it! Sounds ridiculous, doesn’t it? But that’s exactly what a lot of people do, people who aren’t in business anymore.
Make that shift now! People don’t have to see the finished product. Some people will insist on it. Great! You insist, too.
See? You can jumpstart an enterprise with a little creative financing and thinking! It doesn’t have to cost you an arm, leg, or mortgage.
Now it’s your turn! Do you have any tips you’ve discovered along the way for creative financing? Share in the comment box below!
Salika Chitrakar says
Thank you Mr. T Harv Eker for your wonder lines.
yes, may be i have some finance generating idea.which is doing myself in my bussiness. in another way i practicing that idae to my business. let hope i will sucesseses in my idea than i will proudy share to you
Ashwini says
Hi,
Nice to meet you Harv and Jessi. It was unexpect that you people make video and email me. Thank you so much .You made me feel great. Since I started listening your book I feel energetic inside.
gerry says
seems interesting
Greg says
Hi Harv, great advice on preselling-I do it all the time as I sell advertising. When people question it-I say that’s how we do it. If I feel confident in what I do-they go along with it. thanks for the reminder and your other tips.
Maria says
Thanks Harv, this helps me with my online store. I’m going to sell my products first, and then order them from my supplier, and then ship them to my customer so I’m not using my own money and not accumulating an inventory of stuff that might never sell. Maria
Patricia says
Thanks and sound interesting. Sharing is caring. Pls walk me through by spelling it out. Patricia McMorris
Elizabeth says
Such good advise. I am involved in an estate now that has had to dispose of several 1,000 items that were purchased 30 years ago and have been in storage. They don’t work, are out dated and to salvage would cost more for preparation than it is worth in time and effort. If I knew more maybe they would go to someone that could salvage them.
Zahari says
From my experience, if I can’t sell the product, I sell the service with the product; some thimes in lower prise but product is sold.
Emong Solomon says
This sounds great but am 1000 miles behind. I don’t know which business to start on. Am still a student in highschool practising to be a teacher. I surely need advice
Yeoriton says
It is important to be flexible with my plans.Also, to start where l can , where l am & with what l have. Thanks
Princess Kolubah says
hi my name is Princess Kolubah I always want to be rich but just a high school graduate student and I don’t have money to travel or start any business sir I from Liberia Monrovia city please help me so my Dreams can come to pass
Mark Stewart says
Never stop dreaming and read more about business, finance and rich people. Knowledge is power but the use of that knowledge is experience. When you learn enough you will be inspired and ideas will spring forth. Hope this helps. Mark Stewart
Judith says
Dear Mr Harv Eker and Jess,
Thank you for a wonderful and inspiring introduction to your lessons. Thank you for sharing your great ideas.
Judith
Yolanda Delores Alleyne says
Hi Harv and Jesse,
I have read your book “Secret mind of the Millionaire” and I have never thought there were different thoughts
a) Rich thoughts
b) Poor thoughts
As you will notice I have given them labels for my own reason. But I have to tell you, I have been so enlightened by this book, My plans are to read it monthly as suggested. Thank you for including me in your Inner Circle
Josue Polinski Gutierrez says
muy interesante nunca habia escuchado ese metodo abstracto de venta, nuevamente muchas gracias
RoqueJuniorWG says
HarV bien día, justo hoy me encontraba decidido a dejar el Network marketing, llevo casi 3 meses y no he conseguido nada, pero luego comencé a leer tu libro y m ha hecho entender como manejar la situación. Muchas gracias.
Jim Lowther says
Hi Harv Just started reading your book and listing to your videos they make me know where my thoughts are coming from. Helping me to get the good out. Thanks
Luca says
Grazie per avermi trattato bene
Venancio says
Thanks for your awesome program, now I understand that the cause of my misfortunes is deeply rooted in my inner world that had been shape since my childhood. I grew up thru the hard knocks of life so I dreamed of getting rich but i dont know how, I tried many things but but always frustrated, I started my personal development, its great I saw opportunity but it led me to debt. I had been doing affirmations but the result is leading me to the opposite direction.
Today I have to work 2 full time jobs because my pay check is not enough to cover the interest I owed in all my credit cards which I invested in cryptos because of the promising returns but then eventually wiped out.
In the mean time I will avail of your free stuffs specially in dealing my innerself, reprogramming my subconscious on the issue of money. I need to grow rich inside to have good foundation for financial abundance. Thanks for the HOPE, I now have a chance to become millionaire thru your vision and mission in life. Looking forward to attend your training, I dont know when . . . . God bless you. . . .
Jordan says
I am in a unique situation I suppose … it seems this is referencing toward some sort of commerce or product… my vehicle is unique in that I have a product that everyone uses but I don’t have to pay for yes I’m in sales. In short my company has contracts with all major tv internet and wireless providers…so the product is there and a much needed solution to millions of people’s “problems” so for me there is little overhead. I’m more interested in maintaining the drive required to push my self to the next level build my team of sales reps and instead of selling them on the product sale them on the dream and self improvement.
Dr vineet says
I am Ayurveda doctor working in a private company. What should I do to get rich?
Miguel Echebue says
Gran articulo, gracias
Patricia sanabria says
Hola buenas, bueno primero quiero que sepan que me sirvió esta lección porque me motiva a empezar ya, en este momento y ahora,
toda mi vida le tuve miedo al emprendimiento, pensaba q eso no era para mi, me consideraba muy pasiva y no buena para las ventas.
Un día después de presentar una entrevista laborar me di cuenta que no quería volver a se empleada y dije si voy a vender lo de los demás mejor vendo lo mio.
Llegue a casa llame a mi cuñada que tiene una librería y le dije envíeme el libro los secretos de la mente millonaria, y en forma de bula le dije que me voy a volver millonaria. Ya me había leído el libro de padre rico y padre pobre obligada por mi suegro y yo me decía a mi misma uish pero si quieren que yo emprendan y de revele decía háganlo ustedes.
Bueno volviendo al tema me leí su libro y cambió radicalmente mis pensamientos hacia el emprendimiento, descubrí que estaba pensando como los pobres en todas mis áreas y a partir de ahí tengo el libro en audio en pdf en el celular y el libro físico, después de la biblia su libro. Hago a diario los ejercicios las declaraciones convenida y mi ánimo a cambiado muchísimo.
Mi negocio lo voy a empezar con publicidad de Maketing para llamar la atención y como es un producto gastronómico lo voy a dar a conocer por porciones a un precio asequible para que se conozca el sabor y sepan lo rico que es. Esa sería mi estrategia de inicio.
Para terminar ese cambio que tuve me sucedió a principios de esta semana de octubre.
Dios los bendiga grandemente a usted a su familia a su equipo de trabajo a su entorno y que todo lo que toque se siga convirtiendo en oro. Gracias muchas gracias porque después de Dios usted cambia muchas vidas.
Marana Vázquez Álvarez says
Muy bueno!, Ante todo darle las gracias por compartir sus conocimientos, aquí en España hay ya algún que otro continuador de su doctrina. Un placer
Yvonne Parra says
Thanks Harv and Jesse Eker, I read your book in spanish I am from barcelona.
Edgar Soto says
I took out a loan from on of my life insurance policies and the best part is that it was tax free
Lesly says
EXCELENTE INFORMACIÓN, ya hice un préstamo pequeño a un familiar y e iniciado un pequeño negocio y voy por buen camino, aunque con dudas y miedos pero voy para delante
Carlos Calderon says
Muchas gracias Herv ans Jesse, estoy leyendo tu libro “Los secretos de la mente millonaria y me esta cambiando la mentalidad con respecto al Dinero. La verdad no entendía porque si tengo un buen ingreso como empleado no tengo dinero. Practicare todos los consejos y posteriormente compartiré mis resultados. Salusos
Lorena Lozano says
I am happy to be here, learning. I think offering services instead of products is cheaper and do not need inventory neither a storage.
Stevens Caro says
Hola a todos y gracias por todas estas enseñanzas recién empiezo tengo 49 años y he vivido una pésima vida financiera, en algún momentos tuve y ahora nada estoy literalmente en cero, tengo un trabajo al que agradezco pero no es lo que quiero, recién empiezo con el libro de los secretos de la mente millonaria y estoy empezando aplicar las técnicas y por lo menos me siento mucho mejor sabiendo qué hay un camino, he estudiado espiritualidad por más de 10 años y agradecido estoy por esto, pero tampoco he he logrado mi libertad financiera y esto por qué pensé, que de seguro tiene algo que ver!!! que la realización financiera era de que yo tenía que ser espiritual para poder ser millonario, claro que algo tiene que ver, pero leyendo el libro al cual todavía no termino me he dado cuenta que mi tema está en el patrón colocado en mi subconsciente por circunstancias que he vivido, vengo de una familia honrada pero de escasos recursos, gracias a mi padre y madre nunca nos falto nada esencial pero no había libertad financiera siempre era un tema comprar lo que deseaba, me inicie con mi propio negocio desde la edad de 21 años y hoy tengo 49 soy muy creativo pero aún así estoy sin nada con una separación marital y un bebé de 10 años el cual amo por todo lo alto, y al cual deseo servirle de ejemplo para su futuro y seguro que para muchos, estoy seguro y con mucha confianza que este libro y tus enseñanzas me van a llevar por todo lo alto, si me gustaría tener esa confianza de tener a un Mentor que me ayude a salir de esta situación, mi inglés es súper básico por ahora!! ya que lo estoy estudiando, me ha tocado vivir en el carro, no soy muy bueno o mejor dicho nada bueno con las finanzas he sido toda mi vida una persona sana y relativamente no tomó alcohol si acaso en ocaciones especiales pero no me llama la atención….sé que cuando salga de esta situación voy a ser ejemplo para muchos que me conocen y no ven en mi salida y eso si sé que soy capaz de salir de esta situación de eso si estoy 100% seguro, soy una persona que vive todo el santo día generando ideas pero no sé si mi caso es extraño no logro salir de esta situación, obvio necesito ayuda!!! Y leyendo el libro dices que uno debes de juntarte con personas que de verdad te generen valor y aporten en tu vida cosas que realmente sean útiles para salir adelante y eso es lo que ahora estoy empezando hacer e incluso entregando este comentario, me gustaría aprender más y más cada día, quiero dejarlo como parte de mi herencia a mi familia y al mundo quiero que las personas que sé que son millones se inspiren con personas como yo …..que vienen de pasarla mal financieramente y que además quizás en algún momento del día tenían algo más para poder comer, quiero agradecerte de ante mano todo lo que hacer por este mundo que aunque estés generando dinero en ir tus enseñanzas sé que estás aportando mucho más de ganado, te bendigo tu éxito, bendigo lo que tienes, a tu familia a todo tu ser, gracias gracias gracias millones de gracias!!!
Contessa Williams says
Harv, Jesse, and team
Creative financing?
A strategy I learn so far is invest in you( the business) people buy what they see and “we” are who they see before the”product.”
So I tend to make sure that I am approachable and my product is the “shining toy” I thank you for your time and consideration for giving what you have learned on your way to becoming a millionaire. I pray that I have just as much success if not more.
MD Arif says
Millionaire mind book in Hindi stordy . nice book my life
India left me.
I don’t speak English.
Eugene Daniyan says
I think one way one can be creative in getting financing this time in the form of goods that be gotten from supplier on credit, after selling your products you payback and make sure you are credit worthy. Thanks for the beautiful tip.
Kebede debela says
Wow!!! amazing idea
Mary Garcia says
My business doesn’t require me to put out a lot of money up front. Yes it requires me to buy what I’m selling first which has already happened. My problem is in enrolling potential buyers into purchasing my product.
They either don’t have the money Or don’t make their health a priority..
Sharonbj says
Recently I needed money , so I borrowed from myself using my savings, then paid myself back at an extremely low interest rate and paid myself a little extra in the process.
Viviana says
Thank you Mr. T Harv Eker for your wonder lines.
yes, may be i have some finance generating idea. let hope i will sucesseses in my idea than i will proudy share to you
Melanne Forman says
The insight you have towards financing is invaluable. Thank you
Ajay Pratap says
Great insight, Harv and Jessi…. Thank you!!!
Nicole says
Thank you very much very interesting way of approach…
Will try it on some of the products I sell.
Omonzuwa Ogieuhi says
I enjoyed every bit of it! Thank you!
Stephanie says
Dear Harv,
I’m so exciting to read your book ‘Millionaire Mind’ during this tough beginning of 2020.
For all the financial issues you mentioned in your book and above speeches I am now suffering…… But I’m willing to change, in both my mind and activities. Therefore I want to get more energy from ur class. And complete all the changes step by step. Can’t wait for next session.
Thanks & regards,
Marilou says
Thank you to both of you ,
It’s gives me an idea how to do it if you have the right mind set
And how to apply for it to get a result and shares what you know to apply to themselves
And later on be the expert .
Gabriela says
thank you for sharing your experience. I stil need guidence and financial understanding of your ideas, here is where creativity comes for sure. , do you have an example that could share about selling before buying?…