This episode is turned upside down as Brian K. Wright from Success Profiles interviews Loral. Loral shares the industries that first made her a millionaire and how she is excited for today’s new opportunities like cannabis and crypto.
Loral talks about the importance of marketing your books and what it takes to become a bestselling author. She also gives us a quick glimpse into her upcoming book. Loral talks about mindset, understanding money, and having the right team in place.
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Ask Loral
Show Notes
- [03:49] Loral is a five-time New York Times bestselling author. Her new book The Green Rush Millionaires will be coming out next year.
- [04:17] She is heavily into the cannabis, CBD oil, and health space. She first became a millionaire in the gas and oil and real estate spaces.
- [04:31] Getting a job and just saving will only keep you small and stuck.
- [04:46] Companies make money and individuals get taxed. If you're serious about keeping your money, get Incorporated.
- [05:37] Her cannabis business has 23 acres in Cathedral City and 32 acres in Hawthorne Nevada. They have nine licenses and are putting green houses up right now.
- [06:10] These are exciting times to be alive, get wealthy, and a write books about it.
- [06:39] Debt for wealthy people is one of the biggest tools we use. Debt is just the cost of money.
- [07:22] Most people don't know how to invest. Why would you pay off debt when it is cheap. Instead of being scared about money get educated about it.
- [08:11] People are scared of money because they don't understand it.
- [09:14] Take some time and play the Millionaire Maker game and learn to understand money. Understand how it can work for you and be a massive benefit in your life.
- [09:53] The goal to win the game is to become a millionaire.
- [10:24] On page 194 of The Millionaire Maker book Loral talks about how to handle debt.
- [10:38] Transition your debt from personal debt to company debt. Use zero interest credit cards. If you can get cheap money, then why pay it off?
- [12:01] Focus on how to make more money.
- [12:46] For an author to become a best-seller you have to stage and organize sales, so you can presell your book.
- [14:00] Loral uses people's input to generate chapters. This encourages them to buy.
- [15:06] Loral has a launch calendar to nail a bestseller. You have to as involved in the launch and the post launch process. Have a goal in mind.
- [16:38] Get with someone who knows the process. Involve other people in the content.
- [17:12] A book is a great brochure.
- [17:27] You need a team. An accountant that knows marketing.
- [19:34] Everybody's an author and everybody should have a book. Have a post-launch plan to recover the time you spend on the book and the book launch.
- [20:08] Ask, tell, ask. Come up with some different ideas. Write your book collaboratively. Find out what people want to know. Get input from a focus group.
- [21:50] The faster you talk and are interviewed the more information you get down. You should use a ghost editor that can grammatically sort out what you say and talk your book out.
- [24:32] Share content and help other people. Don't wait for the perfect book.
- [26:40] Use CreateSpace and learn how to market yourself.
- [27:49] Having a high profile VA that could work with you in your office for awhile would be great.
- [28:53] You need to be a month out and get ahead of yourself. You need to organize yourself to use them right.
- [29:40] Grow coaching to invest in real estate. Partner with someone who has already done it.
- [30:25] Get a sales team to help you sell. Partner with people on real estate.
- [31:53] A business structure forms a book.
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