Money Smart Magazine – March Issue

 

Money Smart is the monthly online magazine from the producers of The Financial Fairy Tales.

Aimed at parents, teachers and young people interested in learning about money, success and enterpreneurship.

The March issue features Mark Victor Hansen in the Money Masters series, plus some great tips for business and financial success from leading CEOs and Entrepreneurs.

Please enjoy the March issue of Money Smart at http://moneysmartmagazine.co.uk

Essential advice for young entrepreneurs

The majority of people want a comfortable success, the lazy mans way, according to master marker Ted Nicholas.

The average entrepreneur will not be a millionaire, more likely they will only just make enough to get by. The really successful ones are those that are willing to go the extra mile, to face rejection and keep going. You have to decide if you are willing to be an outstanding person. In most cases your products will fail, your adverts will flop and your business may fold, that’s ok if you are willing to put yourself on the line. Find something you are passionate for, build a business around it and keep swinging – you will be successful.

Here are Ted Nicholas’ 5 essential tips for young entrepreneurs

1.  Be willing to Pay the Price: People are looking for the Lazy Man’s way to riches, but that is a myth. Work hard and study to become a master. This can involve 500 – 1000 hours or even more. This is why you must do what you love to do and then build a business around it.

2.  Learn to market and sell: Accept that sales and marketing are positive, essential and valuable skills, and then learn how to do it.  Direct sales are a terrific learning ground. Gain experience from part time work mowing lawns or babysitting. Better than competing with 9 others for a minimum wage job.

3.  Fail forwards: Realise that when you fail, nothing really bad happens as long as you learn from it. In a survey of young millionaires, the average number of attempts was 17 before they experienced their current level of success.

4.  Reject rejection: Be willing to hear the word NO – One of my mentorship students was turned down by over 200 different banks at home and abroad, but now is a millionaire. How many give up after the first rejection or the third or fourth?

5.  Never stop learning: The importance of continuing education – I’ve spent $50,000 to $100,000 a year on books, audios and seminars. I’d rather have a good home study program than a new car. Let others make their 3 or 4 hundred dollar payments on the new BMW, invest your money in yourself.

Read the full interview with Ted Nicholas in the August edition of Money Smart Magazine

What Celebrities Teach Their Kids About Money

The July issue of Money Smart Magazine contains an elightening interview with Terry Starr and Bradi Nathan founders of www.myworkbutterfly.com – a global social network providing a safe haven and resources for mothers contemplating a return to work while guiding working mums trying to manage it all.

Among their well known members are actors, designers, TV hosts and models.

Read the following extract from the interview.

Talk show host, Kathie Lee Gifford said  she’d be happy to do an interview with us and our site wasn’t even built yet, she really, truly believed in the mission and understood that this was something that women needed. We  have Emme who was the first plus sized super model, Gloria Allred, well known lawyer here in the States, she was actually recently on the Tiger Woods case. We also have designers, Liz Lange and Dana Buckman, Jill Zarin from Real Housewives of New York City and Dina Manzo from Real Housewives of New Jersey among many others.

Money Smart – In your view is being a celebrity parent a help or a hindrance to the children?

T & B – What we learned at the end of the day interviewing so many mums is that they are truly no different to Terry and me. They struggle with the same things that we do. Malaak Compton-Rock, for example, her husband is famous actor and comedian Chris Rock.

She constantly wrestles with guilt, she is a huge advocate for children’s rights and travels extensively to South Africa and at the same time as she is holding these orphans she thinks to herself I feel horrible that I am not home driving my children to their gymnastics class.

 So even though she is a celebrity in a sense, she still wrestles with the guilt that we do, so I don’t think she is any different. Just she has money or because her husband is more well known than ours. She has the same obstacles that we do.

Money Smart- So how much of an issue is it teaching their children about money?

T & B In an interview we did with Malaak she talks about rent is the service we give for living –  her children know that when they get a toy, they give a toy and they actually have a separate room in their house for those times when Malaak is going to go to South Africa. She brings those toys to the South African children and on the occasions when her kids come, they get great satisfaction  to see that child holding their toy. Great lessons. 

When she was sharing the story I thought wow, I sure wish I’d thought of that when my children were young because I think it’s a wonderful lesson that she’s teaching her children.

And then we have the celebrities that we’ve interviewed talk about the fact that it’s important for them to know that, and these are their words, they are blessed and they want their children to know that it’s important that they make a difference in the world and to give back.

It’s very inspiring.

Read the rest of the interview in Money Smart Magazine and listen to the full audio