The Millionaire Maker's Guide to Creating a Cash Machine for Life (Hardcover)

~ (Author)
Key Phrases: cash machine, revenue model, gap analysis, Wealth Cycle, Marilyn Stanley, Adam Allison (more...)

Editorial Reviews

Product Description

Loral Langemeier first introduced her exclusive Wealth Cycle system in the national bestseller The Millionaire Maker. Now, in The Millionaire Maker's Guide to Creating a Cash Machine for Life, she reveals how you can learn to earn more money by building a viable business. The Cash Machine is simple to start and sustain. You'll use skills you already possess and build a reliable team to help. Whether you want to partner with others or create your own team to start, fix, or buy a business, Langemeier shows you how to turn it into a Cash Machine that makes money from Day One.

This book delivers a step-by-step action plan for starting up your Cash Machine, helping you to

• Identify your personal skill set
• Brainstorm a business idea and model it after a similar venture
• Test the sales potential
• Create a Cash Machine Plan
• Build and manage your team
• Develop short- and long-term marketing strategies
• Grow your business-and make more money!

Langemeier gets you up to speed on marketing, sales, operations, finance, and management to keep your business operating effectively. She also shares instructive and inspiring real-life examples of successful Cash Machines and explains how to use profits to fuel the Wealth Cycle.

In order to be truly wealthy, you need more than a 9-to-5 salary and investments: you need a Cash Machine. The Millionaire Maker's Guide to Creating a Cash Machine for Life gives you the necessary tools to begin your journey to a lifetime of financial happiness-today!

From the Back Cover

Find Your Fastest Path to Cash!

“You want to keep up with the Joneses, be my guest. You want to trounce the Joneses, don't just read this book, act on it.”-JAMES J. CRAMER, CNBC's Mad Money and TheStreet.com

“A resoundingly passionate introduction to the world of entrepreneurship. First rate!”-Michael E. Gerber, author of The E-Myth Revisited

“Loral Langemeier has done it again! Building on her foundation of smart-and often counterintuitive-advice for generating real wealth, Langemeier has produced a savvy, practical guide that can help anyone create and sustain a viable business.”-Daniel H. Pink, author of A Whole New Mind and Free Agent Nation

“Loral Langemeier is changing the conversation around money-how to make it and keep it by doing what you love. The Millionaire Maker's Guide to Creating a Cash Machine for Life is a practical, down-to-earth guide to launching your own business for a lifetime of financial freedom.”-Phil Town, author of the New York Times #1 bestselling investment book, Rule #1

“If you ever want to own your own business-a successful, prosperous, turnkey business-and you don't read THIS book-shame on you. I was vividly impressed with the fresh, new slant Loral takes on entrepreneurialism.”-Jay Abraham, business growth strategist/expert

“I have known and worked with Loral Langemeier for many years, witnessing first-hand how she has shown thousands across the country how to achieve more wealth than they ever dreamed possible. The Millionaire Maker's Guide to Creating a Cash Machine for Life is a much-needed, no-nonsense guide on how anyone can launch their own business.”-T. Harv Eker, author, New York Times #1 bestseller, Secrets of the Millionaire Mind™

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Product Details

• Hardcover: 240 pages
• Publisher: McGraw-Hill; 1 edition (April 24, 2007)
• Language: English
• ISBN-10: 0071484736
• ISBN-13: 978-0071484732
• Product Dimensions: 9 x 6.2 x 1 inches
• Shipping Weight: 1.6 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (17 customer reviews)
• Amazon.com Sales Rank: #47,395 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

45 of 45 people found the following review helpful:

4.0 out of 5 stars Simple but actionable ideas, June 18, 2007

By	John Chancellor "Mentor coach, www.teachtheso... (New Orleans) - See all my reviews (TOP 1000 REVIEWER)    (REAL NAME)

If you are expecting some magical insight to building a Cash Machine For Life, you will be disappointed. However, if you are looking for a simple, straight-forward overview of the process of creating a cash machine for life, this book should prove helpful.

The book is simple, fairly well written and easy to understand. It is not an in-depth how to book. But for anyone owing are thinking of starting a small business, it has some very good information.

None of the lessons are new. But they are all valuable and since it seems that small business owners have a bad habit of failing to follow the basic advice presented here, it is well worth the time to at least revisit these lessons.

The very first and most important lesson is the difference between working in your business and working on your business. This was the major theme of Michael Gerber's E-Myth books. But it is a lesson that still needs to be told. To be successful in building a cash machine for life, you must work to build a business, not a place where you have a job. This of course involves changing the mindset of most people who go into business for themselves.

The second lesson is to go into a business that relies on your own skill set. Again, this lesson is fairly old - Elegies an ancient philosopher said, "Let each man pass his days in that wherein his skill is greatest."

If you are going to build a business that is not totally dependent on you and your time, you will need a team. And the make-up of the team can and will change as the business goes through the different growth cycles. The book spends a great deal of time discussing the concept of building a team.

Langemeier also talks about the need to model your business after some other business. Again, this idea is fairly old. Terence, another ancient philosopher said, "Draw from others the lessons that may profit yourself." Old advice but still very revelant today. Unfortunately far too many people starting their own business fail to follow it.

She also devotes a lot of attention to developing a revenue model. A lot of people start their business with very vague goals and then wonder why they never achieve them. Loral advises that you need to have some very specific revenue targets and dates for hitting those targets. Action is one of the keys to success in any business. Take the action to generate the revenue and then adjust and correct as you go. If you wait til everything if perfect, you will wait forever.

There is one excellent bit of advice if you are starting a business with a partner. "...design your divorce while you're still in love." Far too many people enter into business relationships thinking everything will always be roses. "Divorce" in business can be as bitter as in marriage.

The examples in the book are extremely simplistic. However that does not lessen the value of the principles. My recommendation would be to use this as a starter guide and as you master the concepts and principles, find more complex and deeper material. But for the majority of people who own or plan to start a small business, this would be an excellent starter guide.

17 of 17 people found the following review helpful:

4.0 out of 5 stars Building Your Own Cash Generator, August 5, 2007

By	Bryan Carey "Bryan Carey" (Houston, TX) - See all my reviews (TOP 500 REVIEWER)    (REAL NAME)

Author Loral Langemeier is a woman who makes her living talking about building wealth through independent enterprise and she has an entire series of books dedicated to the "Cash Machine" concept. What Langemeier is referring to when she talks about cash machines is a business concept that involves complete and total involvement in an enterprise with lofty goals to grow and expand in a very short period of time. Langemeier stresses that a business can grow very quickly and she rejects the notion that a small business will always be small. She feels that business owners underestimate their abilities. They should set their goals very high and overachieve in sales and profits.

I have read many books like this and one thing that is a certain turn- off is a book that promises large sums of money very quickly and with very little work. These "get rich quick" types of books are common and they all make lofty promises and "guarantees" of great, limitless wealth. This book does talk about getting wealthy, but it is far more realistic in its approach. Langemeier doesn't guarantee great riches and she doesn't lead the reader to believe success will take place overnight. On the contrary, she talks about the demands of owning a small business; the commitment; the necessity of an exit strategy; and the gradual build- up to success. This is one of the many positive aspects of this book. It shows how financial independence can be reached, but it never claims the road to success will be smooth and completely free from bumps, roadblocks, and detours.

I like the multi- step approach of this book and the fact that it covers so many different parts of the process. The first few chapters talk about the start- up period and they cover everything from the decision to start clean vs. the decision to buy an existing company to the initial phase of brainstorming for ideas and identifying existing skills. Like Langemeier correctly points out, everyone has some specific skill set that can be converted into a full- fledged cash machine. For some, the skill might be something physical, like landscaping. For others, it might be something that requires more thinking, like private consulting. Whatever the skill, most everyone has several of them and it is only a matter of deciding on which skill(s) are best to use when building a cash machine.

Overall, The Millionaire's Guide to Creating a Cash Machine for Life is a very good book about starting a new business and developing it to its fullest. It isn't an exceptionally long book, so don't buy it with the expectation that you will find everything you need to know and an answer to every question as it relates to a small business. This isn't an exhaustive book and it only covers the most essential steps to build a business. But what it does cover, it covers quite well and it doesn't give the budding entrepreneur a false sense of hope. It's a very good book and one I recommend to anyone who is serious about starting and growing a business of their own.

42 of 48 people found the following review helpful:

1.0 out of 5 stars Preys on the corporate type, January 24, 2008

By	Billionaire Extraordinaire (California) - See all my reviews

Loral Langemeier has some good ideas. Start a business that can make you money now, today! Most people want to start a business and they make it too complicated for significance. She wants you to start a business that can make money ASAP so it will work. She says if you know how to sew then start taking orders taking for sewing. Don't start a new business that you are not familiar with. This is not the sexy but it comes from her farming background.

This is the foundation of her book and the $2,000 seminar I went to that went along with it. She says it herself that her books are brochures. There is really no other major substance here. The books misleads you to think this is something " new and different", that she will take you by the hand and make you rich.

If you want to save two hours reading, $20 for the book, $2,000 for the seminar ( which offers the same info, start what you know, now), $1200 for the hotels, $300 for airfare, $200 for misc expenses and $300 for the rental car just then start your idea now.

When you go to the seminar she wants you to sign up for her " Big Table ". This is where you do deals with like minded people for somewhere in the nature of $12k to join. Or they urge to sign up for coaching for $7k or so lasting 10-12 phone calls. Some deals have gone really sour from this. Everything is about relationships. Spend $1k and start a first class local group of like minded people instead. This way you can build trust and have a local knowledge of your investments.

To sum it up in another way they are a business. She is very smart. I say it's better to find a way to replicate her model more ethically for billions not millions.