Building Your Money Machine

Mel Abraham, Highly Acclaimed business & Entrepreneur Expert, discusses choosing the best business idea. He emphasizes the importance of evaluating opportunities and utilizing the opportunity evaluation matrix. He shares three essential principles for evaluating opportunities: follow core strengths, follow profitability, and bet on probability. He uses a quadrant model to rate and place opportunities based on core strengths and profitability, categorizing them as pebbles, boulders, sand, or diamonds.

In this episode #1 Bestselling Author and Highly Acclaimed business & Entrepreneur Expert, Mel Abraham shares the importance of self-leadership and how it relates to entrepreneurship and your success. Before we start with personal development, we need to start with our "self" first. We have to be aware of the things that we are doing.Funnel of Self LeadershipThe funnel of self leadership allows you to shift your life and the things that you are doing. You create a path that moves you from being accidental to intentional.There are 6 stages:Awareness: Everything begins with awareness. We cannot shift things if we are not aware. So, the first stage is being self-aware about what you know, don't know and where you want to go. When we consciously work on self-awareness, we not only become aware of our surroundings but we also start focusing on building our ability.Ability: When you become aware, you now have the ability to start building core skills, knowledge and tactics to elevate the things that you are doing. You have to look for gaps in skillsets and strengths to nurture, cultivate and develop those skills.Application: Next, we have to start taking action and actually make things happen. The action is not taken to get end results directly. It is to get feedback which allows us to take better steps until the final result is achieved. So, without allowing procrastination disguised as perfection to stop us, we need to take action.Accountability: You need to take responsibility for all the actions and outcomes. There is no benefit in pointing figures at others. By taking accountability, you will learn and grow.Acceptance: You must accept the fact that nothing will go as planned. All the great plans and strategies we create never work out in their original form. So, allow yourself to be flexible in the process. Never wallow in pity. Instead accept the facts, make changes based on the information and keep taking action.Assertiveness: The final stage where no matter the obstacles, you need to stay true and committed to your purpose and mission. Never give up and find ways to move around. Take concerted actions and execute until you figure out the core functions of the business.__________________________ABOUT MEL ABRAHAMMel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.Mel is a true believer in the entrepreneurial way of life and says that this “new frontier” is the paradigm that will shift society from simply existing to living life bigger, bolder and on their own terms.Meet Mel at http://melabraham.com/____________________THE ENTREPRENEUR'S SOLUTIONThe Entrepreneur's Solution is a weekly entrepreneur, business, wealth and lifestyle show where entrepreneur, speaker and author Mel Abraham reveals all of his business and entrepreneur building strategies. Mel is one of our time's most sought after mentors and speakers tha

The podcast discusses the characteristics of a good business system, such as being customer-focused, utilizing best practices, having a singular owner, and being simple and documented. It emphasizes the importance of implementing business systems to leverage time and achieve freedom. The podcast also explores the significance of delegation and monitoring of business systems as the business scales, as well as the importance of attraction, conversion, delivery, connection, and tracking systems for success.

In this episode #1 Bestselling Author and Highly Acclaimed business & Entrepreneur Expert, Mel Abraham talks about habits, how they are created and how we can change our habits.Habit LoopIn his book, The Power of Habit, Charles Duhigg talks about the concept of a habit loop. There are three factors in it:Cue: It is the initiator or driver of the habit. It is something that triggers a pattern for you without a lot of conscious thought.Routine: After the cue is triggered, what follows next is your habit or routine. It is the things that you repeatedly or automatically do when the hook is hooked.Reward: The benefit that we get when we run a pattern is called reward. It can be positive or negative.There is a critical point where we can shift things. It could be a slight or a lengthy moment. So, a fourth component can be added to the habit loop and it is:Reflect: The moment where we have the opportunity to reflect and ask ourselves whether the habits serves us. If it doesn't serve us, we can replace it with something that does.The Anatomy of Changing a HabitWe can change and shift our habit in the moment of reflection. Here's how:Define the Cue: Realize or define the hook and where it comes from. Cues can come from different places like time, location and people. Be consciously aware about such triggers, and you can shift and redefine it.Define the Reward: It is the "Why" that pulls us like a magnet. Find the strong purpose that draws you towards the dream. Define the reward that is attached with the habit that pulls you through.Expectation Association: It is the path or the norms that is expected by the society. Many times it is the path of mediocrity. Be aware of the expectation that you associate with; so we can shift above and beyond it.Belief Community: It is the community or the people that you surround yourself with. In order to shift your expectations, you have to surround yourself with like-minded people that understand your values and will help pull through.__________________________ABOUT MEL ABRAHAMMel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.Mel is a true believer in the entrepreneurial way of life

In this episode, the speaker discusses the 7 key elements necessary for online businesses, including content creation, traffic cultivation, conversion optimization, after-sale magnification, technology utilization, growth integration, and customer elevation. The importance of leveraging technology, automating processes, and tracking customer journeys is highlighted. The chapter also emphasizes the significance of growth integration, customer experience, trust, loyalty, and tracking customer lifetime value for maximizing profitability in online businesses.

The podcast discusses the outline of a business plan and emphasizes the importance of the process over the final document. It covers topics such as the executive summary, company vision, product offerings, target market, strategic tactics, and the importance of a strong team. It also explores the details of business operations, organizational structure, and the backstory behind products and services. Additionally, the podcast highlights the key elements of a business plan, including market analysis, unique positioning, customer connections, and financial projections. Lastly, it emphasizes the importance of considering alternative plans before taking action.

In this episode, Mel Abraham discusses the importance of a strong and personalized business model. He emphasizes the need to understand customers, build valuable connections, and deliver products effectively. The chapter also explores the fundamentals of creating a successful business model, highlighting the significance of intentional design and clarity.

Learn about the importance of a proper business model for growth and success. Understand the different stages of business models and the need for continuous refinement. Discover the significance of having a viable business model and the reasons why business models fail.

Mel Abraham, a highly acclaimed business and entrepreneur expert, discusses the importance of building a strong team in this episode. He emphasizes the need to hire individuals with the right skillset and values, as well as the responsibility of developing team members. The podcast also highlights the significance of clear core functions, coaching, and creating a culture of success within the team.

Learn the importance of mentorship and how to find the right mentor. Understand the values and qualities to look for in a mentor. Discover different types of relationships with mentors and the role they play in your success. Gain insights on building relationships with mentors and expressing gratitude.