The 7 Immutable Laws of Fast Wealth Building: How To Get Rich With Speed By Applying The Laws of Fast Wealth Building and Its Principles To Your Life

58 Pages·2014·0.45 MB·English

by  Omar Johnson

The 7 Immutable Laws of Fast Wealth
Building
How To Get Rich With Speed By Applying the Laws of
Fast Wealth Building And Its Principles To Your life

By Omar Johnson

Copyright 2014 Published by Make Profits Easy LLC
[email protected]
Table of Contents
Introduction
Chapter 1: Immutable Wealth Building Law #1 -The Law of Control
Having control is a must!
Chapter 2: Immutable Wealth Building Law #2 -The Law of Leverage
Using leverage with a business
Scalable Business Systems
Why scale is essential
A business must fill a need or solve a problem
Chapter 3: Immutable Wealth Building Law #3 – The Law of Value and Service
How to create value
Chapter 4: Immutable Wealth Building Law #4 – The Law of Execution
What an idea is worth
Chapter 5: Immutable Wealth Building Law #5 – The Law of Speed and
Acceleration
“Get rich slowly” a very lame concept
Chapter 6: Immutable Wealth Building Law #6 – The Law of Momentum
Chapter 7: Immutable Wealth Building Law #7 -The Law of Wealth
Preservation
Protecting your wealth from inflation and the decline of the US dollar
Asset Protection
Taxes
Trusts
Chapter 8-Wealth Principles
Wealth Principle #1: To build wealth fast you have to keep your money
working hard for you.
Wealth Principle #2 – It doesn’t take money to make money.
Wealth Principle #3 - You must have the right mindset and develop good
wealth habits in order to build wealth.
Wealth Principle # 4 - The 90/10 rule of wealth.
Wealth principle #5 -Going from one level of wealth to the next requires you
to raise your financial thermostat.
Conclusion
Introduction

They say that success leaves clues and so does wealth. In regards to the latter the
clues of wealth are all around us, they stare us right smack in the face every
single day of our lives yet many people are oblivious to them. For those who are
indeed aware of these particular “wealth clues” and are not on the path of
attaining wealth then it is either because they don’t have the desire to be rich and
wealthy (they perhaps have some sort of psychological block that subdues this
desire and prevents it from ever manifesting), or they are missing important
pieces of the puzzle which are necessary to put together a concrete and viable
plan for attaining wealth.
If the latter is your case, this book will fill in the blanks for you. It will give you
the missing pieces of information that you need to put together your plan for
wealth creation, wealth multiplication and wealth preservation. Now, in regards
to the former if you have absolutely no desire to be rich and wealthy then I can’t
help you and neither can this book. And, if you have some sort of psychological
block that you are wrestling with (maybe it’s a distorted or negative perception
of money and wealth as a result of how you were raised as a child etc.) there is
hope for you, you just have to work on changing your money blueprint.
Your money blueprint is basically your core beliefs pertaining to money. When
these core beliefs are negative or self limiting, they inhibit you because you are
conflicted. For example, if you grew up in an environment where you constantly
heard such things as “rich people are greedy”, “money doesn’t grow on trees”,
“rich people are crooks” and other similar expressions, then it is a strong
possibility that you have an aversion to wealth.
Maybe you are not even consciously aware that you have this aversion, but it’s
Maybe you are not even consciously aware that you have this aversion, but it’s
there located in the recesses of your subconscious mind and you must address
these issues first before you can move forward, because wealth creation is
virtually impossible if you harbor the belief that wealth is inherently evil.
However, it is not the scope of this book to cover these types of psychological
issues. If you feel that you need help in this area I have a book entitled Money
Blueprint that will assist you in exorcising your wealth aversion demons. Now,
let’s discuss the intended purpose of this book. This book will discuss and cover
in detail the 7 immutable laws of fast wealth building and its associated
principles and how to apply them to your life so that you can build wealth faster
than ever.
But pleased be warned, this is not a conventional book on wealth. We will not
talk about things like saving 20% of your paycheck as a viable strategy to
accumulate wealth (it’s not) or investing in the stock market for 40 years and
watching your money compound as you earn gazillions of dollars (totally
unrealistic). We will not talk about how to chant your way to wealth or how to
Feng Shui your home so that you can create the “proper” energy to attract
wealth. I will simply leave those things to the mystical wealth gurus who inhabit
the earth (or do they?).
Anyway enough of the sarcasm, let’s get started on the fascinating topic of fast
wealth building!
Chapter 1: Immutable Wealth Building Law #1 -The
Law of Control

This law is covered first because in order to create wealth you have to have
control. First, you have to have control over yourself. You must have complete
control over your time and how you spend it. You also have to have control over
how you think and how you act. Most people might believe they do have control
over these things and I agree that they do. However, they have made a conscious
choice to relinquish this control to others. They give up their freedom and
control for a paycheck.
When you work at a job you have very little control over your time. You are told
what to do and when to do it when you are there. You are told what time to
arrive to work, the amount of time it should take you to complete a task, what
time to take lunch, and the time that you are permitted to leave work etc. You
allow others to use your time as a form of leverage to create wealth, while you
and your fellow co-workers just scratch out a living.
You made this choice primarily because you sought the illusion of security in the
form of a predictable paycheck and income. You will never get wealthy this way
because you can’t get wealthy by receiving income from a job. In fact, income
does not equal wealth. What does equate to wealth is having a substantial of
amount equity in successful and profitable businesses or owning equity in a
series of high value transactions.
Having control is a must!

Now I’m not telling you to up and quit your job, but what I am saying is you
have to gain control of your time and use it to create wealth for yourself. You
can work on creating wealth in your spare time until you reach the point where
you are comfortable enough financially to devote your full time to it. This path
has been taken by many famous and not so famous entrepreneurs. For example,
the late Steve Jobs worked at the game maker Atari and his Apple co-founder
Steve Wozniak worked at Hewlett Packard, while they were working on creating
the first Apple computer in a garage.
So to make this perfectly clear, you have to make the conscious decision to
control your time. Once you’ve decided to take control of your time you have to
use a significant portion of it to focus on wealth building.
Speaking of wealth building, you also want to have control over the things that
you invest in. You want to be able to directly affect the outcome. For example,
when you have your own business you are able to affect the outcome of that
business because you have control over it. You can implement strategies that
will increase its sales and profits and reduce its expenses accordingly. You can
hire and fire people at your own discretion simply because you have control. The
bottom line is that you have the power to steer your business in the direction that
you want it to go in. You control its destiny.
This is why although I like the stock market I’m not invested in it, because I
can’t affect the outcome of whether a stock goes up or down. This is totally at
the whim of the marketplace. When you invest in the stock of a company unless
you are Warren Buffet or Carl Icahn, you have absolutely no influence or control
over that company, therefore you cannot affect the outcome of its profitability or
anything else.
You are not the CEO and you don’t sit on the board of directors. Yeah, you may
You are not the CEO and you don’t sit on the board of directors. Yeah, you may
have voting rights because you are a shareholder, but for your vote to have any
impact on any issue where a vote is taken you need the other shareholders who
also have voting rights to vote in unison with you and you have no control over
that. You also don’t have control over how profits are to be distributed and
when. It’s tough to build wealth that way.
I’m not saying it can’t be done, but it is in the hands of others. You have to hope
and pray that the company has a good management team and that team stays
intact. You have to hope and pray that you have enough shares of the stock so
that if it appreciates you will be rewarded handsomely. You have to hope and
pray that the company or companies that you invest in consistently pay
dividends and those dividend amounts are not minuscule and you have enough
shares, so that it will make a significant financial impact on your wealth building
bottom line.
Don’t get me wrong, I believe it is necessary to have faith and believe in the
things that you are investing in. However, I cannot and will not base my wealth
building strategy entirely on a hope and a prayer because that doesn’t make
sense to me. I have to have some sort of control that will allow me to positively
affect the outcome of the venture that I’m invested in.
When activist investor Carl Icahn bought a significant stake in Netflix (9.4%), he
gained a degree of control and influence and Netflix’s board of directors as well
as the company’s founder Reed Hastings were immediately put on notice by
Icahn, who felt that Netflix wasn’t performing as he thought it should and he
believed the stock was considerably undervalued.
Normally, when Icahn acquires a significant stake in a company he agitates for
change either by seeking to remove certain board members, gaining seats on the
board, or as in the case of Family Dollar urging a sale. However, in the case of
Netflix he did not have to agitate for change as his investment earned him a
whopping 825 million dollars in profits in just 14 months. Shortly thereafter he
quipped:
“We like Reed Hastings. I told him when a guy makes me 800 million bucks, I
don’t punch him in the mouth”.
Facebook founder and CEO Mark Zuckerberg serves as another example of why
control is so important in wealth building. Currently, he owns 28.2% of
Facebook shares, but more importantly some of the company’s most powerful
shareholders have ceded their voting rights to him giving him a total of 56.9
percent of the shareholder voting power, which gives him full control of the
company’s decision making.
If Zuckerberg didn’t have this control Facebook would probably be owned by
Yahoo today. In 2006, Yahoo offered to buy Facebook for 1 billion dollars.
Many of the Facebook investors and executives wanted to sell. However,
Zuckerberg had no intentions of selling, because he believed that Facebook was
more valuable than a billion dollars.
Since he had full control over Facebook he was able to shoot down the offer to
sell to Yahoo despite what the investors and executives wanted. How has this
decision not to sell to anyone period impacted Zuckerberg and Facebook for the
better? Well, as of this writing Facebook is valued at 196 billion dollars, which
makes it at least on paper worth more than Disney, Coca-Cola, AT & T and
Toyota and Mark Zuckerberg is worth 32.6 billion dollars.
As you can clearly see, when you have control it makes a big difference. In
addition, when you own and control a business like Mark Zuckerberg does with
Facebook, you can build your company to a point where you can offer shares to
the public via an initial public offering (IPO) and create wealth beyond your
wildest dreams.
I’d rather be on this side of the stock market as a majority owner issuing and
selling shares to the general public as opposed to being on the other side as an
investor buying shares. I’d rather be selling than buying. When you are selling