Re: Great idea Michael, in fact it is an idea
 

I'm big on checklists as opposed to plans - a plan is an intention a checklist is a must-do.

Pilots file a flight plan before take-off and go through a checklist. One is an intention which can change almost as soon as take-off has ended. The other is a MUST and cannot be avoided otherwise flight cannot take place.

In Creating Wealth, by Robert Allen, you get to see the checklist he uses to make the buying of real-estate an easier less emotional thing.

The "plan" is to buy real-estate for little or no money down. The checklist is the HOW of it.

I see a flow chart as a progressive checklist. You cannot proceed until the conditions have first been met.

And while the "large" flow chart I'm working on won't ever be made available to the public, there is another smaller one which I may make available once completed.

The smaller one revolves around a business which was hinted at in 7 Steps II numerous times and which has something to do with a discussion we had here a while back. And it's one that I feel would be easier for a single person to handle and use themselves.

The large one involves staff and subcontracted (hired) staff, commercial offices, a fleet of vehicles, a management structure and a host of other items. All of which make it a lot harder, for a single person operating from home, to use.

When the smaller one does make it to market, it'll be a hard product and not an electronic product. Because I, like you, prefer the paper and ink type of stuff over electrons.

Michael "may the Flow be with you" Ross.

P.S. While I see a Flow Chart as a handy thing which can be used to help achieve your goals, I also see it as a tool which can be used to help weigh up the feasibility of businesses or ventures you may be considering - sitting down creating a flow chart forces you to ask a lot of questions and to answer them.

Like Dien could create a Flow Chart to see what he needs to do to make an Investors Club a reality.

I also see that a Flow Chart could be used with the POA to cover the exits.

Achieve success by using check lists and flow charts....
 

Hi Michael,

> I'm big on checklists as opposed to plans -
> a plan is an intention a checklist is a
> must-do.

> Pilots file a flight plan before take-off
> and go through a checklist. One is an
> intention which can change almost as soon as
> take-off has ended. The other is a MUST and
> cannot be avoided otherwise flight cannot
> take place.

Michael, thanks for mentioning this!

One thing I've noticed, Michael, is that you're very good at efficiency! This is something I can learn from myself....

I've used checklists, though I don't do it all the time. However, when I do use them, I am generally much more efficient and organized. I'm going to take some inspiration from your post and use them more often!

Following this advice will no doubt help with our achievement and success, for those who don't do this regularly. :)

> In Creating Wealth, by Robert Allen, you get
> to see the checklist he uses to make the
> buying of real-estate an easier less
> emotional thing.

> The "plan" is to buy real-estate
> for little or no money down. The checklist
> is the HOW of it.

Sounds great! I don't have that book. Do you recommend it? :)

(By the way, I've just recently come across a new book which is partly about a "no money down" technique for buying houses for Aussie laws. The technique uses option contracts. It's called "Australia's Money Secrets of the Rich!" by John R. Burley with Bruce Whiting. I haven't read it all yet, but it looks pretty good. There doesn't seem to be an American version yet, but I expect one will be coming out eventually. Some authors seem to use Australia as a "testing ground" for their books -- to iron out the bugs -- and I think this is what John R. Burley is doing.... John R. Burley is an American, that's why I think this is probably the case.)

> I see a flow chart as a progressive
> checklist. You cannot proceed until the
> conditions have first been met.

That's a great insight! I never thought of it like that, but you're right -- it is like a more sophisticated, more flexible version of a checklist!

I've never made a flowchart for any of my projects, but your posts, Gordon's and John's have got the wheels in my head spinning! :)

> P.S. While I see a Flow Chart as a handy
> thing which can be used to help achieve your
> goals, I also see it as a tool which can be
> used to help weigh up the feasibility of
> businesses or ventures you may be
> considering - sitting down creating a flow
> chart forces you to ask a lot of questions
> and to answer them.

> Like Dien could create a Flow Chart to see
> what he needs to do to make an Investors
> Club a reality.

> I also see that a Flow Chart could be used
> with the POA to cover the exits.

Michael, these are all great ideas. I can see how they'd help immensely with bringing something from conception to reality, as well with achieving efficiency, and helping with decision making.

Thanks, those were great posts!

- Dien

Re: Achieve success by using check lists and flow charts....
 

> Hi Michael,

> Michael, thanks for mentioning this!

> One thing I've noticed, Michael, is that
> you're very good at efficiency! This is
> something I can learn from myself....

Years ago, when my body was younger, I did a little piece work for my friend's father - he had his own business.

He said to me once, your problem is that you rush into everything without thinking about it. Ten minutes now, thinking about HOW your going to do it, will save you hours of frustration later.

Then later (about a month later) he said, you think too much. You try to think your way out of a problem instead of doing something.

At first these sound like contradicting statements. But they aren't.

Too much action without thought is dangerous. Look at children. There appears to be no thought behind a lot of their actions. And some are so action oriented they'll just up and fall over while running around.

On the otherhand, too much thinking gets nothing done.

Can we all say P R O C R A S T I N A T E ?

A moderation of both and you're on your way.

And while I'm on the subject of Thinking and Acting I'm reminded of a book I stumbled across years ago in a moment of synchronicity.

The author used the term "Thought - Word - Action".

Everything begins with a Thought. The Thought is set in motion by your Word. And the results are obtained by following up your Word with Action.

Think about something. Say it aloud. Then do it!

I've mentioned that at some point I'll be making a Flow Chart available. I've said it (typed it) in a public place. I'm now forced to make it available for the simple reason I said I would.

I believe the Saying of things aloud is VERY important. And not just the Saying of goals. The Sayings of all sorts of things.

There've been times I've been trying to recall something - a name, place, idea, whatever. I strain my brain trying to get the memory to surface to no avail. BUT, as soon as I start to ask aloud, what I've been mentally asking, the answer pops into my head before the question has passed my lips.

For those of the Christian faith this very concept is at the very start of the old testiment. God didn't think light into existence. He spoke it into existence - God SAID, And let there be light.

Obviously before a word is spoken a thought has taken place. So God Thought light, gave voice to that thought and the result was light.

Anyway. The more we give voice to our Thoughts and follow them up with Action the more we are setting up a habit of doing so.

Onward.

> Sounds great! I don't have that book. Do you
> recommend it? :)

Funny thing about how I came across that book. Just as funny about how I came across my hard-cover version of Donald Trump's The Art of Staying On Top.

I just happened to wander into bookstores I'd never been in before and saw them there and bought them.

What's the big deal about that?

Only that both had been out of print for a long time - so I was told. And neither book store remembered ordering the books in - that's how long they must have been stuck in a back room somewhere.

Do I recommend Creating Wealth?

Yes I do.

And BTW, today I ordered a copy of another of his books called "Nothing Down for the 90s". A Search at Amazon will give you the ISBN, which you'll need to order it, as there doesn't seem to be a book store in Australia that keeps it on hand. And this was confirmed after I called Simon & Schuster who told me they only bring it in to satisfy the orders for it - the last shipment of it a couple of months back was 9 books for the whole country.

And while we're on books... have you read BUFFETTOLOGY? I picked it up today while ordering Nothing Down For The 90s.

> (By the way, I've just recently come across
> a new book which is partly about a "no
> money down" technique for buying houses
> for Aussie laws. The technique uses option
> contracts. It's called "Australia's
> Money Secrets of the Rich!" by John R.
> Burley with Bruce Whiting. I haven't read it
> all yet, but it looks pretty good. There
> doesn't seem to be an American version
> yet, but I expect one will be coming out
> eventually. Some authors seem to use
> Australia as a "testing ground"
> for their books -- to iron out the bugs --
> and I think this is what John R. Burley is
> doing.... John R. Burley is an American,
> that's why I think this is probably the
> case.)

I haven't heard of the book, but have heard of the technique. Isn't it where you tie up the sale of the property for a defined period of time and cross your fingers that you can sell it before the time is up, or something like that? (I believe buying real-state using an option is being done in the US)

> I've never made a flowchart for any of my
> projects, but your posts, Gordon's and
> John's have got the wheels in my head
> spinning! :)

Good!

> Michael, these are all great ideas. I can
> see how they'd help immensely with bringing
> something from conception to reality, as
> well with achieving efficiency, and helping
> with decision making.

> Thanks, those were great posts!

They "were" great posts... as in, they aren't any more? :o( HA! Just kidding :o)

Michael Ross.

P.S. In Creating Wealth, Robert Allen says something I think is something a lot of people could do with remembering...

Whatever you don't have, someone else does.
Whatever you don't have, you can get!

Warren Buffet didn't have vast resources behind him when he began... other people did... and he got it!

Re: Achieve success by using check lists and flow charts....
 

Hi Michael!

> Too much action without thought is
> dangerous. Look at children. There appears
> to be no thought behind a lot of their
> actions. And some are so action oriented
> they'll just up and fall over while running
> around.

> On the otherhand, too much thinking gets
> nothing done.

> A moderation of both and you're on your way.

Great point. We need to balance the two....!

By the way, Michael, thanks to your ideas I've been making some checklists for my projects....

What I used to do before was to make "to do" lists for the day. But for some reason I never really liked that method.... I think it's because I tend to like to see the overall picture, and a "to do" list doesn't give you the overall picture for a project.

What I'm doing now, based on your advice, is to first list down the "projects" or tasks I'm doing. (Both big and small.)

Then I'm making separate checklists for each project. What you said is true -- it forces you to think through each project, exactly what's required. It's very useful!

Then I can go through the checklists, working through the items for a project.

I've created a few of the checklists now, and I've already checked several items. I already feel more organized and empowered. :)

What a wonderful way to start the new year! :)

> And while I'm on the subject of Thinking and
> Acting I'm reminded of a book I stumbled
> across years ago in a moment of
> synchronicity.

> The author used the term "Thought -
> Word - Action".

> Everything begins with a Thought. The
> Thought is set in motion by your Word. And
> the results are obtained by following up
> your Word with Action.

> Think about something. Say it aloud. Then do
> it!

That's good advice. :)

> Onward.

> Funny thing about how I came across that
> book. Just as funny about how I came across
> my hard-cover version of Donald Trump's The
> Art of Staying On Top.

> I just happened to wander into bookstores
> I'd never been in before and saw them there
> and bought them.

> What's the big deal about that?

> Only that both had been out of print for a
> long time - so I was told. And neither book
> store remembered ordering the books in -
> that's how long they must have been stuck in
> a back room somewhere.

I believe there's a wealth of information in many of the "classic" books. I know I've learned a lot from some of them....

A few months ago I picked up a second-hand copy of "The Magic of Thinking Big" by David Schwartz. It's a classic, and an excellent and powerful book! It was written, I think, in the 1960s, but it is every bit as powerful and true today as it was back then. I highly recommend it. (It fits in with the thread of having high goals!)

Also, since you mentioned Donald Trump, a few months ago I located a second-hand copy of "The Art of the Deal". It's great! I really like how he goes through his typical week.... It mostly seems to be phone calls, to organize and get things done! With a personal meeting also thrown in here and there. :)

> Do I recommend Creating Wealth?

> Yes I do.

> And BTW, today I ordered a copy of another
> of his books called "Nothing Down for
> the 90s".

Thanks for recommending these, Michael.

By the way, back on to property, a friend of mine is doing unbelievably well in property. He started only three years ago. In those three years, he acquired a piece of land, and also a house. He recently sold the land for a nice profit, and is looking to buy TWO more houses. (Financed by bank loans.) His one house is giving him a nice little income.

I'll write how he did it (I asked his permission to write his story on the forum, and he said okay). I'll write it in a new message at the top.

How this relates to books is that he essentially uses the techniques that Robert Kiyosaki talks about in his "Rich Dad Poor Dad" series of books.

> And while we're on books... have you read
> BUFFETTOLOGY? I picked it up today while
> ordering Nothing Down For The 90s.

I have it, and I've read bits of it. It's got some good stuff. I personally think I prefer The Warren Buffett Way, but I know that some people prefer Buffettology....

Buffettology has a lot of stuff which isn't in the Warren Buffett Way. For example, they tell exactly how Warren Buffett started, by forming limited partnerships with many wealthy individuals (like doctors and lawyers). Buffett was the general partner who was in charge of the investments, and he made money if the partnerships made over a certain percentage return.

> I haven't heard of the book, but have heard
> of the technique. Isn't it where you tie up
> the sale of the property for a defined
> period of time and cross your fingers that
> you can sell it before the time is up, or
> something like that? (I believe buying
> real-state using an option is being done in
> the US)

Well, I haven't fully read the section on that yet, I pretty much have only skimmed through it now, but the idea is something like that. You spend a little bit of money tying up a property which you think is undervalued by using an option contract (for a fixed amount of time).

Then you effectively control the property, and you're able to sell it at a profit, if you can get someone to pay more than the total amount you have an option to buy it for.

You make your money on the difference.

Thanks Michael.... these are great ideas, and I really think the "check list" idea is a winner!

I'll share the story about my friend and his properties in a new message at the top!

- Dien