OK Why B-MIS

I had decided that I wanted to help people change their lives. Zig Ziglar has said, you can get anything you want by helping other people get what they want. What I wanted was a fairly simple concept that I could teach people that could have a dramatic impact on them.

So I thought a while and came up with B-MIS. B-MIS is an entire philosophy and approach to evaluating and building multiple income stream. It begins with helping people to understand that they need multiple income streams, and teachs how evaluate, select and to develop additional income streams. Now people have been talking about creating multiple income streams for a while now, but they just say it as an activity, they don't discuss how to intelligently accomplish it.

B-MIS is going to be my gift, the first fifty years of my life have been focused on family, career and myself. The next fifty years I am focusing on helping people by sharing what I know, then at 100 I will retire.

This is just the beginning of B-MIS. I am in the process of developing the web-site, I will be offering a 10 lesson email course on the concepts of B-MIS, and I will have a newsletter on B-MIS related topics including presenting new income streams for you to evaluate.

So stay tuned and visit www.B-MIS.com on periodic basis. I will also make an announcement here on this Blog when things are ready.

Is Your Income Stream Overflowing its Banks

After a heavy rain or a spring thaw, run off water will flow into stream and rivers and cause them to raise their level and overflow their banks. In some cases after the influx of water the level of the river or stream will go down lower than it was before.

The same thing can happen to your income stream. From time to time we receive an influx of money, promotion, inheritance, lottery winning, successful sales campaign, or in the current case and economic stimulus check.

We need to have a plan on what to do with this additional income, or like the overflowing river, it will be absorbed somewhere, and we will scratch our head and wonder what happened to it. Or worse we overspend because of the influx of money and end up having more monthly expenses because of it.

So what are you going to do with your check from the government? Blow it on a new TV, take a vacation, let it sit in your checking account and get slowly absorbed? Or are you going to pay down debt, buy a CD (certificate of Deposit, not the latest Kelly Clarkson CD), invest in your business or maybe make a contribution to your favorite charity.

If you do not pro-actively plan for the times when you will receive extra income, in the excitement of the moment you might do dumb things.

PS. Oh just by the way, this economic stimulus check you are receiving is actually an advance on your next years tax return. So if you are the type that uses your income tax return for a vacation or for purchasing big ticket items, remember next year the amount will be reduced by the check you are getting now.

Do you have the self discipline for Financial Freedom

For the the last ten years I have been helping people understanding the problems with their finances. I find it amazing at the level of debt most people are carrying. And it;s not just the poor and middle class, even some of the richer people have leveraged debt to the hilt. Most everyone is renting their life style, if they can work the monthly payment into what they have coming in they will do it.

I used to counsel people that if they would just tighten up a bit, they could pay off all their debts in a few year. The trouble was, people did not want to sacrifice the little things, they did not get the sense of satisfaction on paying off a credit card versus buying a tv with the card instead. There did not seem to be a positive reinforcement to pay off bills, when they are getting all these advertisements that they will be so much happier with a new car or a bigger house.

I think we should take the word SACRIFICE out of the dictionaries in the United States, because we do not know what it means, and we definitely don't know what Self Sacrifice is.

That's why I have decided to promote the concept of B-MIS (Build Multiple Income Streams), instead of asking people to scrip and save and pay off their debt's, instead let's increase and secure their income, then they can start paying off their debts with the excess. Using B-MIS we can secure the income coming in, so that if we lose a job, we have another income stream to help replace it. B-MIS puts us on the track to Financial Freedom, on of the concepts of B-MIS is to use the additional income to pay off debts, which increases the value of the income stream. I will go into this concept in my next Blog entry.