Building Wealth Magazine

The number of ultra-high-net-worth individuals, those with at least $30 million is rising fast. Last year, the number of members of that exclusive club rose more than 11% to almost 95,000. The total amount of money they represent, according to the World Wealth Report, is just over $13 trillion (yes, with a “t”).

There are about 3 million millionaires in the U.S., according to the report. They have more than $11 trillion and did a pretty good job of managing their wealth: assets rose 10.3% for the year. Europe, with about the same number of millionaires, didn’t do as great a job in terms of asset growth; assets there rose 7.8% in the year.

All in all, the numbers point to high growth rates in the ranks of the world’s wealthiest individuals, and CapGemini/Merrill Lynch don’t see a stall anytime soon: they predict financial wealth among the high-net-worth population globally will increase by an annual rate of 6.8% in the next few years, hitting $51.6 trillion by 2011.

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Becoming the president of an international corporation used to take a lifetime of hard work. Now, it can be done with a PC, strong entrepreneurial spirit, and less than 30 days.

The idea of being self-employed seems daunting to many professionals. It’s estimated that 80 percent of businesses fail within the first five years. If you’re a ‘glass is half-full’ kind of person, you might be discouraged by such an estimate. However, the typical entrepreneur views this an invitation.

An entrepreneur isn’t discouraged by 4-to-1 odds. They see a good chance (one in five) that a given venture will succeed. And, they have a sense of certainty that while individual ventures may fail, it should only take them five attempts to find the right venture.

With the help of technology, it’s never been easier, or less expensive, to start an international company. And, even the cost of failure has decreased. Within 30 days, its possible for anyone with a good idea and a modest savings account to start their own business.

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 What it Takes to Get Ahead of the Competition

Very few individuals have the luxury of being the only professional in their marketplace offering their particular service. Competition is constantly at our heels, hoping to catapult one step ahead of us. For this reason, we must continually strive to differentiate ourselves from any competition we may have.

Dan Sullivan, President of The Strategic Coach Inc. and co-author of How The Best Get Better, provides a solution. According to Sullivan, if you wish to remain in the upper echelon of your profession you must “…disregard your own commodity and focus on deepening the power and possibility of all your relationships.”*

This means that no matter how much better your business model may be Read the rest of this entry »

Make a Great Impression with the Right Body Language 

Practicing scripts is a wonderful way to perfect what you say to clients. It’s also important to study how you look when you deliver your speech. Body language can account for up to 90% of the impression you make in a conversation, and it can enhance or undermine the point you’re trying to make.Here’s one way to find out whether your gestures are telling customers you are desperate or self-confident. Set up a video camera and practice your pitch to your spouse, siblings, or co-workers in a role-play scenario. Talk to them just as you would a new client. Then watch the tape and see what your body language is telling people. Here are some key things to look for:

Do you make appropriate eye contact, without staring down your client? An intense stare makes people uncomfortable, and can even make them feel you’re a little off balance. On the other hand, if you avoid eye contact, the person you are speaking to will probably think you’re lying. Be attentive and smile. This tells them you’re a winner!

What is your posture saying? It’s important to look relaxed, but don’t overdo it. Slumped shoulders give a negative impression; on the other hand, leaning back and clasping your hands behind your head tells people you are quite full of yourself. If the bottom half of your body is covered by your desk when a new client is sitting across from you, they’re missing half of your body language. So the way you position yourself in your chair is very important. Relax and lean slightly forward with one shoulder as you tilt your head just a bit. This shows you are captivated by what they have to say.

In business, we often have to remain positive even in a negative situation. Being attentive to your own body language can make an incredible difference in how others perceive you. This is one area where practice really does make perfect. Rest assured, if you’re not practicing, your competition probably is.