This book is a New York Times Best Seller and I can see why. If you are not familiar with the authors, they are hitters. Mark Victor Hansen is the co-author of Chicken Soup for the Soul with Jack Canfield. This book and series have sold over 65 million copies. That is really unbelievable. I read one of Robert Allen’s books back in the late 90’s called Multiple Streams of Income. This was and is a great book and is more relevant today than before. Think about it. Years ago, one person could work and support the family and then both spouses needed to work to support the family. In times like this, two people working are not enough because of the job situation and pricing pressures on living expenses. Multiple Streams of Income shows you the power of having your money working harder than you in multiple areas. I will profile that book in a future summary.
Why is this important to me?
When asking you to invest your time to read two books in one, it has to be worth it. This book is worth it because it speaks to the importance of recurring revenue streams of income. Setting up systems that pay you ever month is the master key to riches. This concept eludes most people and that is why this book and the other books by these authors are worth the time to read.
Incentives drive behavior. This is one of the most powerful concepts of the human condition. Think about it. Have you ever tried to lose weight and have failed? What was your compelling “why” for doing it? If it was because you want your pants to be one size smaller then that is not a great reason but if your energy was drained and you were really unhappy then you MUST change and that is a compelling incentive. Compelling incentives drive behavior so when there is enough pain then change will happen.
This book caters to both the left and the right brain. It is two books in one. There is a fictional story of a mastermind group and there is a non-fiction book on facts, figures and “how to” actions. In this summary, we will talk about 3 core things:
1. Wow Now – Have you ever been wowed by something? Can you remember it vividly? Wow Now in a nutshell, has to do with you not only visualizing your future but virtualizing it. This means you need to imagine it with your whole mind and body. Remember that thoughts are things. The IPOD was born in somebody’s mind at Apple. Wow Now is designed for you to wow yourself by virtualizing your future with all 5 senses. Another critical component of this is to silence you inner whiner. Blair Singer’s book called Little Voice, speaks to this concept in great detail.
Your Little Voice if not controlled ends up being your inner critic. This is a big deal because it is the number one cause of inaction and a mediocre life style. This is the voice that says: “I am not good enough”, “I cannot do that”, “and Cash in a flash is a joke and not possible”. All of these excuses come from the primitive brain designed to protect you. It is fight or flight. If you see a bear in the woods, you don’t ponder what to do. Your adrenaline kicks and you react. The negative inner critic does not want you to fail and is very risk averse. This is why that 82% of Americans say they want to write a book and only 5% do it.
Your dreams must be bigger than your fears!
2. The Inner Winner – The Inner Winner is your inner voice that comes from your heart. This is where the true passion for life lives. The Inner Critic comes from your head. In profiling several books, one clear point stands out. The highly successful people in ALL of the books love what they do for a living. None of them would call it work. Warren Buffett, the world’s greatest investor, loves to stock pile money and watch it grow. He does not want to make a few extra dollars, HE LOVES to STOCK PILE MONEY. If you truly listen to those words then you will see the difference.
3. Dream Team – In Napoleon Hill’s book, Laws of Success, he talks about the power of the Mastermind group. This concept is really simple. Two heads are better than one. Out of all the learning techniques, mentors and association are by far the best. The Mastermind allows you to emulate the best of the best. If you want to run companies like Steve Jobs then study him. Find out what makes him tick. If you want to grow your company from X to 10X then seek out a team that has already done it. This will save you years of heartache. Take it from me; I wasted a ton of time trying to figure it out myself. This turned out to be a big waste of time. Things that took years to “learn” by trial and error could have been completed in months through the use of masterminds and mentors.
Cash in a Flash is an excellent resource from two highly successful authors. Both bring their uniqueness to the table and the principles they share are sound.
Once you bridge the mental limitations of your inner whiner, the “how to” stuff is easy. Creating cash flow strong income streams using real estate, licensing and information are very strong concepts that require little cash investment. It does require study and time.
I hope you have found this short summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days. One thing you can take away from this book is the power of the Mastermind. When you have a problem that you want solved, talk to somebody who has solved it already which is the essence of the mastermind. Do this daily and good things will happen. With the power of the internet, anything is possible and almost all the answers are right at your fingertips. Get into this idea daily and your whole world will change.