Extracted the book "the Guide of the Success" of Tom Hopkins
Summary of the life of the author: At ten eight years, Tom Hopkins regarded himself as a failure, it left the university at the end of 90 days and for ten eight months next, it transported steel on building sites of construction to earn its living. It decided to return in the sector of the sale, but gains on average 42 dollars per month. However since it followed a training course to the one five days duration sale, the six following months, Hopkins sold apartments of 25 000 dollars for one total value of a million dollars and started to study success. Tom Hopkins becomes millionaire at the twenty seven years age, at thirty five years, he writes "the Sale" which becomes Best Seller.
"two financial approaches as regards objecfifs": Here one of its quotations: "glory is transitory, but of the well invested money can remain in your family during generations. The ambitious ones have a perfect command of these two financial tools and keep up to date constantly with their own situation in these two fields.
Here two financial tools: 1. State of the incomes and expenditure: The State of the incomes and expenditure indicates your incomes, your expenditure and what remains. Do not seek larger incomes, seek larger benefit Nets, after deduction of all the professional expenses, of all the personal expenditure, Nets after taxes, the money which remain you are the only available ones to carry out your longer-term objectives.
Plan your future by preparing in advance a state of the incomes and expenditure making appear all your expenditure and receipts. Then, as the year advances, you can control your results. If your benefit Net is lower than your forecasts, take measures to increase your incomes or to reduce your expenditure.
2. Stockholders' equity: Here a saying: "nobody of other that me will not occupy itself of me"; One does not work for his retirement, one works to open out. It is our duty to be ready, at the proper time to benefit agreeably from our old days.
Start by establishing an approximate assessment of your current assets taking into account your debts and of your credit. Allot an honest commercial value to all that you have and add the whole. You will obtain the total of your credit and not the sum of your stockholders' equity.
Draw up the list of all your debts, include the contracted, added detttes them and register the total. Now withdraw what you owe of what you have. The figure which remains, your stockholders' equity it is the sum which counts.
To plan and lay down your objectives, you should draw up two estimates of stockholders' equity:
- your current situation which indicates your credit, and your liability
- the approximate amount of money of which you want to lay out in twenty years. Start by determining the exact way in which you will acquire this amount of money. Start by drawing up a list of the quantity of cash, actions and of obligation, effects and of title to be received, real goods and other goods which you want to acquire as well as the amount of money of which you want to lay out. Register these figures on you, frequently defer.
Then to start to retrogress until today. This process of return behind constitutes all the goal of this process, because that carries out to the actions which you will undertake during month, and of the years to come to carry out your objectives.