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Brad Sugars - Billionaire Tour Notes (Miami)

This internations event took place 9/15. Did not expect to take notes but got 3+ pages of them ;-) Not certain this will make me a billionaire but definitively got lots of inspiration and positive energy from it. Here are some of my notes:

-- Protected content of my favorite Brad Sugars Quotes ---

"Getting rich is dead easy but requires work"

"Most people only react when change is forced upon them:

"Most things that make you rich pay at a rate of $0"

"What would the best you do?"

"If no pressure to grow, than no growth. Stillness does not exist (it is death)"

" Sometimes you need that jerk to fire you up"

"Sometimes you have to learn about a domain/sector you did not anticipate"

-- Protected content Key Brad Sugars Concepts ---

8 rules on buying a business:
- Rule 1: Buy a business that survives despite itself ("sometimes you might by a business from an idiot")
- Rule 2: Repeat Biz
- Rule 3: Low skills (so staff is never an issue)
- Rule 4: Staple products
- Rule 5: Cash flow (not asset based)
- Rule 6: Have great general manager in place (He/she is key)
- Rule 7: 50:10:3:1 rule (look at 50 businesses/investigate deeply 10/make 3 offers/buy 1)
- Rule 8: Your deal or no deal. The key is to always get the right deal. Don't get too excite and over pay...

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Being aware of the business cycle is key to success.

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Protected content estate market top?

When do you know we are near top?
1- You start seeing 100% mortgages
2- Mergers and acquisitions slow down
3- Your brother in law became a property developer :-)

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5 Steps to success:
1- Dream (stuff you want to do before death; write it down)
2- Goals (give timeframe; plan)
3- Learn
4- Plans
5- Action (work + work + work is the secret)
= Success
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Urgency: a life is Protected content . How many weeks do you have left? Protected content ? Act now!

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You work income will be directly related to your activity.
"Story of the owner of a hairdresser complaining she does not make more than her employees. When Brad asked her what she does, she said I also cut hair. Well there you have it..."

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Transforming cash-flow: Active money (income) -> Passive money (investment) -> massive money ;-)
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Brad's Passive income rated in order of best return (best return require more work and are less liquid):
1- Buy a business Protected content % potential)
2- Basic Property Flipping ( Protected content )
3- Shares

All 3 are good at different times (i.e. business cycle)
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3 Levels of goals from weakest to best:
- Away Goals (I don’t want this ... I hate that ..)
- Toward Goals ( I want this ... I love that....
- Legacy Goals (do something amazing)

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Gratitude and celebration are key qualities
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Read a book a week
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Jim Rohn changed his life

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