Real Money Talks

Have you ever dreamed of being on Shark Tank? Do you have an amazing business idea that needs capital to get off of the ground. Today’s show is an interview that Loral did with Jonathan Foltz. Jonathan is the co-founder of PITCH Investors Live. This is a new platform that allows entrepreneurs to pitch their ideas to potential investors and sharks. Jonathan sums it up as Shark Tank meets Kickstarter meets online dating all live streamed. This revolutionary new app not only allows regular people to get in front of much sought after investors, but it has the capacity to get your idea in front of regular people who might be interested in investing in you and your idea. Loral is super excited about this new business partnership and her and Jonathan talk about everything involved in pitching and how you can get started with some incredible bonus offers. You can find Jonathan Foltz here: Integrated Health & Wealth Ask Loral Show Notes: [06:01] The app has about 200 to 300 investors in their database. People are even getting deals from people watching in the audience, so there are probably more like 1000 investors. [07:55] The Big Table teaches how to vet deals. [08:19] Sharks are equity investors that also bring their brains and experience to the deal. [09:24] Can you give too much info when pitching a shark? Real sharks are so busy, they aren't going to "steal" your idea. [13:39] An accelerator session is a 30-day trial to learn everything you need to know to get your idea off of the ground. [17:14] Loral gives tips on what you need to pitch properly. Investors also like partners, knowing your market, and how you're going to make money. [18:56] Have a really good story and have numbers that make sense. [20:04] Jonathan shares how he got started with PITCH Investors Live. [22:13] Getting money and strategic partners is always one of the hardest things. Getting cash from investors can accelerate growth. [24:44] Jonathan shares a success story where a guy pitched, got rejected, and then someone from LinkedIn contacted him. Now his company has been acquired. [26:24] People who are just watching the pitch may contact the entrepreneur. The pitches will be available for later viewing. [28:29] To get started, you sign in, and download the app. You can also create a pitch summary and watch other pitches. The live summary allows investors to see them. [30:26] You also get a notification when someone wants to see your pitch. [31:44] You just need to do it. The first pitch will change form many times. [32:12] The 10 Steps to a Perfect Pitch tells you how to construct a pitch. There is a video and PDF version. They also have a one page business plan template. There is also a Pitch Deck PowerPoint type presentation. The accelerator program is a private Facebook group of very hungry entrepreneurs collaborating together. [39:02] There is also a tip feature in the works. [49:50] The whole idea is to offer value and help entrepreneurs get their ideas out into the world. [50:46] Make sure you at least get a patent pending, but don't let it slow you down. You can also have the investors sign an NDA. [54:47] It's important to be concise and get to the point. Be up front if you don't know something. Links and Resources: Loral’s Real Money Talks PITCH Investors Live

Without our health, what do we really have? Today’s show is about making money from a health point of view. I have a special guest today. Lauren Powers is a 10 time overall heavyweight bodybuilding champion. She has devoted her life to health and fitness, and she has the muscles and awards to back that up. She is venturing into a new fitness quest to help overworked, stressed women who have devoted their lives to work and making money, but have let their fitness fall by the wayside. Lauren talks about mindset, goal setting, eating the right foods, rest, hydration, and her passion to help these women turn their lives around. We also talk about the financial side of fitness from sponsors to coaching and how health and wealth go so well together. We also talk about our upcoming event and how you can get Lauren’s book Beneath the Muscle for free. You can find Lauren Powers here: Integrated Health & Wealth Ask Loral Show Notes: [01:40] The first chapters of Loral's life were in the health and fitness space where she made hundreds of thousands of dollars building fitness centers, personal training, and instructing aerobics. [01:59] Lauren is going to get Loral lean again, and Loral is going to get Lauren really really rich again. [02:17] Lauren was an athlete her entire life. After High School, she moved to Hawaii and opened a surfing school. She was also a State outrigger race champion. [02:39] She lived in Laguna Beach when it almost burnt down, and she became inspired to become a firefighter, so she could give back to her community. [03:11] The firefighting didn't work out, but she became the famous fitness celebrity that she is today. Lauren is a 10 time overall heavyweight bodybuilding champion. [04:11] There was no social media when Lauren was doing bodybuilding. She would tour around the world and speak about the sport.  She builds her brand using mainstream media. [04:47] She's been on TV shows and music videos. [05:50] Lauren is now the founder of the Fierce Formula, and she is specializing in helping female entrepreneur women who are in their forties and above. [06:53] Lauren wants to help women who have spent so much time building their business that they've neglected their bodies and the health side is just as important if not more. [07:10] Lauren wants to create a resource, so that when women go to a gym they know exactly what machine to use and how to use it. [07:55] People's health is going down with all of these prescription drugs that have so many side effects. We didn't have these problems 10 years ago. [08:52] Lauren is all for anything we can do to combat the aging process. These are the types of things she's sharing with her clients and her audience. [09:47] 90% of our health revolves around what we put in our mouths. As an expert, Lauren uses genetic testing to help people find the right foods for their body type. [12:16] Lauren only promotes products that she uses and likes herself. [13:38] Lauren's real passion is helping real women instead of the competitive athletes. [15:08] She is used to being creative and working pretty hard, and she's super excited about sharing her expertise. [15:47] Lauren shares how she helped a wealthy stressed out man build a gym and change his lifestyle. She also helped him with his food and supplements. He went from being overweight and stressed to super ripped and trim. [17:38] You have to stop the fast foods in the fried foods and be conscious about what you put in your mouth. Have protein shakes and stay hydrated. Get plenty of rest. Destressing your body is very important in combating the aging process. [18:42] You have to be laser focused on what you want and what your goals are. [19:09] A lot of problems start in the gut, and digestion is a major key to health. [20:30] There's a science behind all of this, so it's important to get with a personal trainer. [21:04] Yoga and meditation are also key factors.  Links and Resources: Loral’s Real Money Talks Register for the June 22 Integrated Health & Wealth Event for FREE! VIP Tickets are available and include lunch with Lauren and Loral! Download Lauren Powers Book For FREE!! Get Your Free Inner Champion Workbook

Conflict can be a loud disagreement or an encompassing silence that freezes out communication and progress. No matter how it is manifested, it can cost entrepreneurs, businesses, organizations, and individuals time and money that they didn’t realize. On today’s show, I have conflict resolution experts Jenn Beninger and Carson Cooper here to talk about problems created by conflict and how to find solutions. We talk about how underlying conflict can cause turnover and cost time and money. It can arise between partners, clients, vendors, and colleagues. Jenn and Carson talk us through the many hidden costs of conflict, and then they explain some of the questions that can be asked to find out where each party is coming from to begin chipping away at a solution. You can find Jenn & Carson here: Ask Loral Show Notes: [01:31] Carson has been in the conflict resolution field for the last 7 years and he's been coaching for the last 10 years. He has a master's degree in negotiation, conflict resolution, and peace building. He's also worked as a lead trainer and mediator. [02:05] Jenn has a bachelor's degree in psychology, and she is a master trainer in NLP. She has coached hundreds of clients in dealing with conflict. [03:05] Some of the ways that conflict costs businesses money include destroying the culture and the employee and client mindset.  High turnover is another issue. [05:25] Conflict can create indirect and hidden costs that just mount up. [07:21] Turnover, hiring, and training is a huge cost of conflict. [08:01] Entrepreneurs that have conflict with teams and vendors is also a huge loss of time as vendors and contractors are changed. This results in loss of income. [09:16] Conflicts in partnerships can cost an entire deal. [10:07] Trust is a confidence of a positive expectation. Distrust is where negative assumptions are made. Companies need to build trust and find out where the distrust is. [12:18] Clients can show up with a presenting problem, but there is always a greater problem that is affecting them. The distrust can even affect future businesses. [13:46] Become aware of the language and dangerous mindsets. Also watch out when people are really defensive or blaming or shaming. [15:33] What are people saying and how are they asking questions. People come into conflict with their judgement and perspective. What does this represent to you and what is your definition of? [17:09] Understand where people are coming from. In every conflict, people are protecting something. Find what they are protecting and why this conflict is so important to them. [19:25] Try to set in a goal-oriented action plan where people are looking at what they want as opposed to what they don't want. [21:00] Jenn and Carson are here to help support you in your solution. You can jump on a call with them and spend an hour. [23:26] Look deep at the places with your life and get unstuck. [23:55] The quicker you resolve the challenges in your life the more time you have to open up to bigger opportunities and more wealth. Links and Resources: Loral’s Real Money Talks

Real estate and investments go up and down in cycles. It’s been 12 years since the last crash. Are we due for another one? There are experts who say yes, and experts who say no. My guest today is Elysia Stobbe. Elysia is an authority on mortgages and financing real estate for first time home buyers and investors. She is the author of How to Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye ™ and the host of the Fork This Mortgage Podcast. She has over 20 years experience in real estate, investing, and mortgage finance. She is here today to talk about when and why she thinks the next big crash is coming and what to do about it. We talk about using the numbers correctly to make sure that your investment has enough cash flow to make it profitable. She gives tips on finance options and the importance of due diligence. If you have questions about real estate investing, you will love this episode. You can find Elysia here: Ask Loral Elysia Stobbe Website How to Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye ™ Fork This Mortgage Podcast Show Notes [01:20] During the last crash Elysia learned a hard lesson. [01:48] It's time to consider what your play is if there is a crash. [02:30] A lot of talking heads get paid to say that things are great. [02:49] There are financial cycles. We were due for a correction fueled by volatile mortgage products. [03:27] They were also mortgage products available for people with poor credit scores and who didn't have a good history of repayment. Adjustable rate mortgages were also a problem. [04:10] Elysia feels we are overdue for a correction. [04:48] Think about cash flow when you are investing. [05:05] Make decisions by numbers not emotions. [05:23] When everyone is trying to be an investor that is usually the time not to be an investor. [06:50] There's a lot of information available for the public also take advice from people who you trust. [07:16] Ask your mortgage professional what they're closing rate is. [08:04] There are products for investors based only on cash flow. Then there are bank statement programs where we go off of the income taxes. There are many different mortgage products out there. [09:04] There is even hard money lending from private lenders at high interest rates. Get pre-approved up front, so you know what your numbers are and can have a realistic cash flow. [10:08] It's important to get pre-approved. [10:50] Sometimes you can get seller financing at 6 or 7%. This is better than hard money lending at 14%. Look for a local investment group to find these lenders. [12:05] There are also ways to use your self-directed IRA. Check fees before getting locked into a company. [12:54] A lot of first-time buyers are getting multi-unit properties. [13:37] Elysia is a fan of the Florida market. Other great investment options are St Louis Missouri, Dallas, Houston, Oklahoma, and Tennessee. [14:29] Lower price is lower risk. Expensive properties can require a lot of money to risk to make the same cash flow. Also be aware of state laws and taxes. [15:49] Consider your exit plan also. [16:23] Try to get at least an 8% return but shoot for 14%. [17:59] Elysia's book How to Get Approved for the Best Mortgage is for first-time home buyers but she's also working on a book for investors. [18:40] The book can help you approach the Lending situation with educated questions. [19:58] First time home buyers are currently getting priced out of the market. Links and Resources: Loral’s Real Money Talks Podcast

What does the co-founder of Oculus and the co-founder of Priceline have in common? They have both attended an event by today’s guest Eliance founder David Cogan. David is a serial entrepreneur who, even though he has an MBA, says that he knows more about making money than he does about math. He also understands the importance of getting the right people together and putting the right systems into place to create a cash machine. He is here today to talk about his community for entrepreneurs of all sectors to help each other build better businesses and a better world. You can find David here: Ask Loral David Cogan on LinkedIn Eliances Loral Langemeier Interview Show Notes: [01:46]  David comes from Chicago where he worked for IBM. Then he moved to Atlanta and had an amazing experience working there. [02:12] He didn't work for Arthur Andersen which paved the way for his success. [02:35] His MBA was actually funded by IBM. [03:28] David started a number of companies, he always had a passion for electronics. He started an online company that sold mid-range speakers. [04:17] His product was featured in a magazine. Next thing you know, things blasted off. [05:07] David is so passionate about startups and businesses. [05:27] Seeing other people be happy with what you're providing is the key to success. [05:58] Eliances is a community of entrepreneurs. The group is by invite only. You have a room full of people who are passionate about what they do. [06:59] It's really about what the community can provide to others. [08:20] Got, give, get. It's the Eliance 3G philosophy. [09:40] This is where relationships are developed and business deals get paid. [11:07] The founder of Dippin Dots is actually working with other Eliance members to form a new product. [12:01] They have over 30 Eliance members who sit on bank boards. [12:49] It's like the Disneyland for entrepreneurs. [13:20] When starting a company, you are doing everything. There are a lot of challenges. You have to move forward and build processes along the way. You need to have a revenue model, because it won't last without that. [17:04] David called one of his customers who gave him a no and asked him why. It was a non-threatening call that gave the people an out, but he cleaned so much information. [18:29] Understand why things aren't working and fix them. [18:57] Take notes and be capture every word. [20:47] Everything is going to be more expensive than you thought it would be. Be resourceful. Your price will always be the wrong price. Feel out the market and adjust and be flexible. [22:09] Be able to shift. Always be open. Anything you are going through, someone else has also gone through it. [23:58] Everyone is human, and we all feel the same emotions. Links and Resources: Loral’s Real Money Talks

This is a special episode where Loral Langemeier  gets interviewed by Alexander of Measurable Genius. Loral is known as The Millionaire Maker, she is the author of five New York Times bestselling books and she has written 42 total. She teaches people how to make money. She walks the walk, because she is a self made woman who grew up on a farm in Nebraska. She always thought that she thought differently, and things started to fall into place when she discovered Think and Grow Rich. This was her first pivotal book about the possibility of getting rich. It was a conversation that made sense to her. She was tired of hanging out with the people who were doing things the old way. She was never excited about having a job, and she never wanted to be that person. Today, Loral shares her journey and how she started it. Alexander and Loral talk about the importance of pivoting, having the right belief systems, learning, finding mentors, and the power of confidence in this eye opening interview. You can find Loral here: Ask Loral Show Notes [02:01] Loral was a personal trainer and aerobics instructor working her way through college. She raised her rates. Then she got certified after someone asked her about it. [03:27] She majored in finance and then got a masters degree in physiology. She worked at a bank, and noticed there wasn't a fitness center. They gave her 20 Grand to build a corporate fitness center. She became an expert at helping building corporate fitness centers. [04:52] She saw a need and just kept giving. [05:19] Powered people work with what's real right now. [08:05] As a kid Loral was pushed. She still has the school record in 440. She learned to take on challenges and succeed. She played five instruments. In college, fitness was her thing. The finance degree help with corporate fitness. [10:26] Most people set goals that aren't achievable and then go and try to live someone life. Achieve and win your goals. [12:31] Loral seeks help and finds mentor. She found Bob Proctor when she was 20. [14:13] The fastest way to learn is to get close to the person that you want to be like. Focused and uninterrupted builds the best support. [15:47] A lot of people spend time on low priority bullshit. It's a never ending value spiral. [19:20] How to escape from being ran by your business. Investing is critical. It provides a path to cash control. [20:34] Companies make money. Operate out of an entity. Incorporate properly and maximize taxes. [21:39] Sometimes people hire who they can afford as opposed to who they need. [25:21] It's important to communicate to entrepreneurs that I'm facilitating your experimentation without the context, of your business, product, brands, and personalty. [27:36] Get clear and responsible about what your goals are. [28:25] People have a fantasy about entrepreneur. The minute a business owner is done serving, entropy takes over. There is a function in the universe if you care. [29:55] You have to put in the work. [30:11] Everyone who is successful all has bad things said about them and challenges. Even the most successful people. [32:47] I lived in great places and then started investing. Then I lived in Manhattan Beach. I invested where I wanted and lived where I wanted. [33:59] Businesses grow the most when you hire people to do what you don't want to. [34:32] Loral loves selling, teaching, and marketing. [35:44] We can only focus on three things. Be accountable to what is important. Spend time in higher level thinking. [37:05] Traveling and visiting different cultures widens your perspecitive. [37:32] Trust yourself. Whatever it is you create it. Links and Resources: Loral’s Real Money Talks Think and Grow Rich Measurable Genius Bob Proctor Yes Energy

Most people dread tax day, especially those that aren’t prepared and don’t have a plan. If you plan your business and your income correctly using business entities like LLCs, or S Corps, you not only can deduct many operating expenses, but you can even file an extension which lessens that time pressure and gives you an opportunity to step away from the herd. The only catch is that to be effective and in compliance with legal regulations, you have to do some strategic work up front. First thing is you have to decide what your business and investment goals are and find the right combination of legal entities and where you want to do business. Then you need to make sure that you are in compliance in case you ever have an audit or legal issue. We are here to talk about all of this and offer some options in getting the legal stuff done right. Disclaimer: We are not lawyers, CPAs, or licensed financial planners. You can find Scott here: Ask Loral (775) 588-9200 Show Notes [03:31]  We are now moving into the next era of money. The current old system was formed in 1933. [04:07] We are going to talk about being a company with the legal right to make money and take advantage of 81,000 pages of deductions. [04:16] We are talking about how to live inside corporate life. We are going to walk through the absolute need for corporate compliance. [04:41] If you don't have a company, you need to decide which type of company you should have and which state you should be in. [04:55] You also need to know how to use the deductions and keep your corporate compliance up in case you are audited. [06:00] We are also going to talk about income, assets, and the choices you need to make to invest off of Wall Street. [08:01] You shouldn't be doing your taxes yourself. You need a tax strategist. [08:45] Loral has a Wealth Cycle product that gives you the basics. You need to find a business to put your taxes in order. [10:14] If you are using an S Corp. The expenses are deducted from the S Corp before you distribute the money to yourself on your personal return. [11:35] Do it yourself without proper guidance is costly when it comes to fixing the mistakes. [13:08] Sometimes you should move to a different state. It depends on where you want to live and how you want to be taxed. [14:43] Your investments should drive the decision on where some of your corporate structure is. [16:07] Do paperwork or be poor. You need to be in compliance with your corporate structure and your deductions. [17:04] A corporation can do anything you want it to do but think and speak for itself. Minutes and resolutions is how your company speaks. You need to treat it as a separate company. [18:31] There are required formalities. There are about 165 minutes and resolutions that need to be kept as a company. [20:09] Minutes are the voice and thought process why decisions are made. A lot of things need to be documented and recorded. [22:15] You need a calendar for 30 days before things are due. Once you put an entity in the air don't take it down. [25:29] The biggest gap is because people don't know they end up doing nothing. [28:15] What do you want and what are you going to have and how are you going to plan your legacy? Create things properly from the beginning. [29:46] You can reconstruct minutes and resolutions by recollection, but you can't back date them. [32:42] Corporate records need minutes and resolutions and ownership certifications. It's imperative to keep up on these minutes and resolutions. [34:38] You type in everything that you have done to create a resolution. Loral has a software product for this. [36:13] You may need diversification and multiple entity structures. Lay out everything and then start growing into it. [40:00] You can have an entity within a trust and move generational money. [46:29] We offer an interactive business guide that will help you document your entities and give you that peace of mind. Links and Resources: Loral’s Real Money Talks

A topic that comes up over and over when we are doing business is Canada. My husband is Canadian. There are a lot of Canadians that want to do business with us here in the US. Here to talk about doing business with Canada is Dave Hare who is a licensed CPA both in the US and Canada. Dave is a cross-border CPA. He has done corporate business both in the US and Canada. Then he decided to leave the corporate world behind and venture out on his own. He owns 5 multi unit properties and is a successful real estate investor. He recently signed a 5 million dollar deal. Dave talks about the differences between US and Canadian tax entities and cross border investing to maximize your money. You can find Dave here: DHare77@gmail.com Show Notes [01:24] Dave got his degree in Michigan. Then he worked for several years for public accounting firms. After he became a CPA, he went over to the Canadian side and work for companies like Caterpillar and Volkswagen. [02:01] Eventually, Dave decided to branch out on his own and do his own thing instead of working for corporations. [02:18] Dave approached Loral about investing in real estate about a year and a half ago. He signed up for the big table. Now he has five multi unit properties. [03:10] Dave learned how to raise money through Loral, and he became pretty good at it. [03:26] Dave became part of Loral's team in September. Dave drove 37 hours to get to Tahoe and begin working with Loral. [03:47] They have been working on some solid deals including the marina deal and major renovations. He also recently signed a $50 million contract. [04:31] Dave surrounded himself with the right people and the right team. Build a diverse team that will provide you the expertise you need. [05:09] It's tough to find it's cross-border team members. [05:21] Three business structures that apply in Canada are partnerships, limited companies, and sole proprietors. [05:50] Partnerships are where you join with someone to set up a business. You will have a partnership return. Each partner does their own taxes. The tax write offs go to your personal tax returns. Any money you make on the partnership returns go straight to your taxes. [06:20] You have to be careful because of liability issues and tax issues. [06:36] Sole proprietorship's in Canada give you write offs towards your T4 income. This is a great tax strategy from that standpoint. [07:57] You want to make sure you protect your personal assets like your house and your vehicle. You have to be careful with liability issues with a sole venture. [08:55] As a sole proprietor, you may be able to write off 10 to 20% of your house if its use for your business. If you use more than that you might be able to use it as a carryover. [10:12] With the company, the carry forward losses can be used now and in the future. [10:29] If you have T4 income and you start making more money your taxes will be high, so you might want to look at other entities at that point. [11:12] You might want to move into a limited company. You will have more flexibility on write offs. [12:04] If you work from your house, your business will take a 10 to 20% of your house expenses. [13:05] In Canada, you can now write off entertainment expenses if you take out the entire office. You can now write off 50%. [13:56] For business driving, you can use electronic tracking and write that off. You need to be very careful about your record keeping and the rules. [14:36] As a sole proprietor, everything is questioned. [15:05] The benefits of setting up an entity in getting Incorporated. Set up a limited liability company to protect your assets. You will also have more right off opportunities. You can also protect yourself by having an operating agreement or contract. [16:23] If you have a company in Canada, you can also set up a US structure like a c corp. [18:55] Be careful of withholding taxes when setting up entities for businesses that are cross-border. [19:59] Make sure you set things up right from the beginning. [20:21] You can avoid exchange rates by keeping your money someplace where the tax rates are lowest like the US and then using a US credit card. [22:42] To talk to Dave,you need to think about trusts, whether you have children involved, whether you can send money down to the US, and possible insurance products. The plan needs to be individually tailored to you. Links and Resources: Ask Loral DHare77@gmail.com

Have you been searching for that one thing that is your unique gift to share with the world? Have you ever felt trapped or like you are not living to your fullest potential? Steve Olsher is a serial entrepreneur. He is the man behind New Media Summit, a podcaster, and the author of What is Your WHAT? In this episode, steve takes us through the What is your WHAT framework and explains what it is. We talk about finding your WHAT, discovering what do you want versus what do you need, and the four paths that most people are on. Steve is a reinvention expert and has helped people and corporations become exceptionally clear on their WHAT. This episode is for anyone who has been wondering if they are on the right path or just want more clarity of purpose. You can find Steve here: Ask Loral Show Notes [02:08] Steve has always been wired as an entrepreneur. When he was a kid, he got paid to rake leaves. His first true entrepreneurial venture was opening a non-alcoholic nightclub when he was 19 years old. [02:41] He then moved on to online business including liquor.com and real estate development. [02:58] He has also been speaking, writing, coaching, and podcasting. He also has the New Media Summit live event. [03:59] Steve's favorite entrepreneurial life was whatever he was working on at the time. [04:45] It's important to understand how we actually excel and what puts fire into our soul. Steve has been the first author to create the What is your WHAT framework. [05:40] Being able to answer that core question of, 'What is your WHAT?' is what's going to separate those who meander through life from those who really wake up with a fire in their soul. [06:16] Steve has always been in a continual state of reinvention. At one point, he wondered if he was missing something. He created what he thinks is a simple framework to help people get to those answers. [07:12] In 2009, Steve started what he called a reinvention workshop. It became clear that getting to the core answer of what is your gift and identifying the primary vehicle that you could use to share that gift would create success. [08:22] Then you have to ask who are the people that you are most compelled to serve. Identifying your gift, your vehicle, and your people helps you hit the ground running. [08:52] You can get started that same day by leveraging your gift using your primary vehicle with those people. It's a simple framework that boils down to understanding these three things. [10:01] The why versus the what. The why is external. Your WHAT is internal. It reflects how you are naturally wired to excel. You can choose your why, you can't choose your WHAT. [11:25] There are a lot of hours in the day. Find a small amount of time to work towards your WHAT. Think about creating an offering so you get paid for your WHAT. [13:39] So many people spend their time the same way they spend their money as opposed to investing their time or investing their money. [13:52] Think about what you actually want. [15:02] The four paths. We all identify on one of these paths. A birther knows what they will be doing their entire life. The shifter has to make a subtle shift to the What is your WHAT equation. The reinventors need to do something 100% different. The wanderer wanders through life without clarity about what their WHAT is. [18:36] Sometimes it's just a matter of getting started with something that's different from what you are doing now. [21:00] Start a time journal and find some hours in the day to do what you need to do. [22:18] Your life becomes a reflection of the choices you make. [22:37] During the reinvention workshop Steve takes people through the what is WHAT discovery process. [24:05] You are the solution to someone's problem. It's our obligation to do what we can do to reach them. Links and Resources: Loral’s Real Money Talks New Media Summit What Is Your WHAT Reinvention Workshop Online Course Reinvention Radio Reinventing Simon Sinek

Eric DelaBarre is a director, writer, producer and NY Times Best Selling author. He has worked with iconic movie studios and Dick Wolf on Law & Order. He knows content production from the concept stage to post production. He has extensive experience in book publishing and content creation. In this episode, Eric shares how he began writing in the movie and television industry. We talk about how he transitioned to writing books, and we talk about the best way to make money writing books. Eric shares marketing tips and the importance of writing a killer book. Along with why you want to own your copyright. You can find Eric here: Ask LoralSaltwater Taffy@EricDelaBarre on TwitterEric DelaBarre on FacebookEric DelaBarre on Instagram Show Notes [01:37] Writing is the execution of a thought and being able to download your thoughts and put them into a sentence structure. [02:42] Eric became a writer in college. He didn't take his first English class until he was a junior. He left college early to work with Dick Wolf who was one of the greatest television producers and writers of all time. [02:51] Learning how to write for television and arcs and beats and how to extrapolate a story is very difficult. [03:36] Writing for television is a great way to have multiple streams of income. [05:12] Writing a movie script can be very lucrative. [06:40] People always go to movies even when the economy dips. [07:33] The best way to make money selling books. [08:15] The best way to make money in the book business is to write a killer book. [08:41] Eric wrote a book for kids called Saltwater Taffy. [09:08] It's also hard to get an agent these days. [09:26] There has to be an overall narrative to the story of a book even a nonfiction book. [10:39] Chicken Soup for the Soul was turned down 140 times. [11:30] Writing is about 10% of the job the other 90% is marketing. You have to have a plan to roll things out. [13:19] Eric got turned down by every publisher and distributor in town for his book Saltwater Taffy. He sent out a killer package that included a marketing plan and got a call from what is now Ingram Content Group. [14:02] You need to take a step back and ask what makes your book special. [15:09] Everybody wants to sell their book to a publisher. Now the channels of distribution are wide open. [16:03] With a traditional publisher the advance is usually all the money you will ever see. [16:58] If your book doesn't jump off the shelf, it gets pulled from bookstores. [17:40] The best way is to own your copyright and your intellectual property. You need to own the title. [20:26] Celebrities have a lot of books coming out right now. Being famous makes the marketing much easier. They use a cross-marketing strategy. [24:25] Online marketing ninja tricks. Eric made a bookmark for Saltwater Taffy. He gave these out when he spoke, and he gave them away online. [26:33] Sell a million books to one company. You have to be smart. Links and Resources: Variety Announces Updated List of Panelists for A Night in the Writers’ Room Chicken Soup for the Soul Ingram Content Group A Time to Kill The Impossible Climb