What is Your Cash Machine?

I spent 3 days last weekend at Loral Langemeier’s Cash Machine Workshop and it was the best seminar/workshop that I have ever attended. The days averaged 12 hours long but flew by.  I never even  once checked to see what time it was during the weekend except to make sure I returned from the breaks on time.

I learned of Loral from the movie The Secret where she appeared as a financial strategist.  During the seminar she said that she was taped for 5 hours for The Secret and only a few minutes of it was actually used in the movie.  We found her Millionaire Maker books and started reading her material. Her company is Live Out Loud and her tagline is “The Millionaire Maker”, hence the title of her books, The Millionaire Maker, The Millionaire Maker’s Guide to Wealth Cycle Investing and The Millionaire Maker’s Guide to Creating a Cash Machine for Life.

Loral teaches you to start creating money by using your fastest path to cash.  That is the idea behind a Cash Machine and the point of the Cash Machine Workshop.  You take skills that you already have and create a business around them.  To start off it doesn’t matter if it is something that you like to do or not.  You can do what you want to do later.  For now you focus on making money doing what you know how to do. Once the cash is coming in then you can learn new skills to do the things you want to do and build a new Cash  Machine.

She puts a lot of emphasis on building a team too.  You cannot keep your focus on what you need to do if you are spending all of your time on more mundane tasks like cooking and cleaning, unless those are things you like to do, in which case you might consider them as a basis for your Cash Machine.  In your new business you also want to dole out the more mundane or specialized tasks like making phone calls, bookkeeping, or tax preparation so that you can focus on growing your business.  You Cash Machine needs to be in an entity, like an LLC or a corporation so that you can get the full tax and limited liability benefits.  You will probably need to find an expert to create your entity.

We were expected to make money while at the seminar.  The first day was about what a Cash Machine is and anyone who didn’t already have one was supposed to figure out what theirs was by the end of the day.  Once we knew what our Cash Machines were we had to figure out what we wanted to sell during the Market Place on the third day.  The rest of the seminar was dedicated to building the Cash Machine through marketing to generate sales, joint ventures, and referrals.  An hour and a half of the third day was for the Market Place where we were to practice and refine our pitch and sell our product to the rest of the room.

For us, we went in knowing what our Cash Machine is.  We split it up so that Michelle sold 5 minute massages for $5 and I sold Nikken’s magnetic insoles for $60.  Loral told us that if we knew what we were selling we should start selling immediately.  Some people made money during the first break on the first day.  We took in our massage chair on the second day and got started making money.  Michelle worked during breakfast and lunch doing 5 minute massages while I talked to people about sore feet.  She never got a break only got to eat during the dinner break.  It went pretty well for both of us as we deposited better than $500 in the bank once we got home.  One person at the seminar said he made $6000.  That’s pretty darn cool.

She offered Cash Machines in a vendor expo area for anyone that had trouble coming up with one on their own.  One of them was a facilitator program for her Millionaire Maker board game.  We have a copy of the game and have played it several times just the two of us.  On Saturday night at the seminar we got to play the game in groups of six, which was a whole different experience.  On one hand it was a little disappointing because I was the only one at my table who had played before so it went pretty slow as everyone else figured out how to play.  On the other hand I saw how fun it can be when I get the opportunity to play with a group of people that know how to play.

As a facilitator for the game we will be able to hold our own game nights and invite others in our area to come play.  If anyone likes the game and buys a copy we can make up to 50% commission on the sale.  They also will teach us how to sell the rest of her programs and events, and that training will care over on how to sell our products effectively.

If you see the value of a Cash Machine and would like to take a look at mine then see my Nikken network marketing opportunity.

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