No business large or small can be faulted for feeling overwhelmed in the era of COVID-19—overwhelmed trying to stay afloat and prosper and overwhelmed how to achieve a breakthrough in current times that is sustainable for a long time. For example, when many businesses can’t stay open or can’t do in-person meetings, Bimal shows how to become a pioneer, double your revenues or profits, and take over your industry in a year.

Did you know that 99.7 percent of the businesses are small businesses and 80 percent of them fail even after 15 years in the business because 80 percent of them focus on linear growth instead of exponential growth?  That is what the book series makes entrepreneurs achieve by helping them prepare their own ‘customized success blueprint’ through the webinar, content, questions, tools, exercises, resources inside the book. Did you know that if you took 30 exponential steps from wherever you are right now, you will circumnavigate the Earth 26 times or make a round trip to the Sun? That is why entrepreneurs need to focus on exponential growth and the book assists in doubling your business or profits in a year.

Bimal has successfully helped several entrepreneurs achieve exponential growth in a year and now is putting his ‘One Year Breakthrough’ system in a book series where businesses achieve their three-year goal in one year. Bimal started his career in the financial sector and it was a client who revealed to him how valuable his advice was. The client told him that what he did in one hour of coaching, consulting, and planning was more valuable than the 10 of the usual meeting on financial planning done over the three years. When Bimal asked what that was worth that he was doing as a hobby, the client surprised Bimal with a big check—which turbocharged Bimal’s future.  “Every entrepreneur with big goals should consider hiring Bimal. If I could have Bimal in my pocket and carry him around at all times that would be great.”- Says,  Mike Barnhill, Specialist ID, Inc.

The book comes with five big benefits:

• Free Webinar to provide 10X more value with the book
• Free thinking tools, resources, and exercises to scale your business
• True stories for each system to show you that they really work
• Insights that show how you can use what’s in the book to double your profits or revenues
• Build your own ‘customized success blueprint’ with timeless systems that can be used repeatedly.

“My mission is to make pioneers out of entrepreneurs by helping them achieve their three-year goal in one year and have the government pay for it. I work as a management consultant, trainer, recruiter, marketer—all the hats I need to wear. I even go in the kitchen and cook with them. I do whatever it takes to achieve the end goal.” —says Bimal.

“Bimal has taken our company from struggling to a thriving company with a dream team in record time. Bimal truly does whatever it takes to grow your business to the next level.”- Lawrence Einbinder, CEO, Florida Hot Tub and Spa, Inc.

The book is written in a very unique style of its own as it uses the power of technology to include a webinar that guides you through the book, it asks a lot of questions, provides a lot of thinking tools, provides free resources to resolve your challenges, most of all it is written in such a way that even if you answer a few questions, you will see a meaningful positive transformation in your life or business.

You can get the book series at https://bit.ly/BimalBooks and start building your journey to ‘Becoming A Pioneer.’

Bimal Shah hs successfully scaled many entrepreneurs in South Florida and you can visit his website at www.TheOneYearBreakthrough.com, email him at bimal@theoneyearbreakthrough.com

or access Free tools and resources at https://linktr.ee/TheOneYearBreakthrough.

About the Author

Bimal Shah, as a financial advisor for 21 years, has helped the community to preserve and protect their assets, build lasting legacies, increase their income, and reduce the taxes they pay. To contact him, please email him at info@bizactioncoach.com or call him at 561-208-4032.

achieve next level growth of doubling your business in a year

launching a complete book series titled

Becoming A Pioneer

how to become a pioneer

double your revenues or profits

customized success blueprint

One Year Breakthrough

Mike Barnhill

Specialist ID, Inc

Lawrence Einbinder, CEO, Florida Hot Tub and Spa, Inc

Bimal Shah

financial advisor

By Bimal Shah

Hello, everyone. We have enemies everywhere. Today, we’re going to talk about the Seven Most Dangerous Enemies of Wealth. These are enemies that can take any, all, or some of your wealth much faster than you can imagine. I have included in this article simple steps that you can take today—steps which can help protect your wealth from these enemies.

Enemy #1: Lack of Planning and Discipline: 

• The Lack of a Systematic Financial Decision-Making Process: Without  proper planning and discipline, it is impossible to build wealth—whether slowly or otherwise. 94 percent of the time, failure to build wealth is the result of having had an improper system of money management.
• The first step is to have a budget.  Then, we need to find out if there are any expenses that aren’t really necessary to maintain the lifestyle you live. If you have discovered some of those, bingo! You now have discovered Hidden Assets. 

Purpose of Doing a Budget for the Wealthy:  The purpose of the budget for the wealthy is not to find out where the money is going, but to allocate the spending of money where it brings happiness and meaning to your life.

• The next step is to maintain three types of primary personal bank accounts:

1. Lifestyle Account: A bank checking account where we pay everyone else.

1. Planning Account: This is a bank checking or savings account from where all your planning takes place.

1. Wage Account (Emergency Account): You need to title your emergency account as a wage account, including wages of up to six months.

Planning for security against the enemies of wealth is a foundation to being wealthy (WEALTH + SecuritY = WEALTHY) 

Enemy #2: Debt: Many misunderstand debt. Some might feel we should live debt free, while others believe that leveraging debt is good. You should understand two fundamental rules of thumb when it comes to debt:

Rule # 1: Debt-to-Liquidity Ratio: At a minimum, you should maintain a ratio of at least 10 percent liquidity to debt; and a 25 percent ratio is very good.

Rule # 2: Differentiating between Good Debt and Bad Debt: For any debt below 6 percent—whether it be a home loan, an equity line, or a property loan—there are tax advantages; and business loans or lines of credit that are not in the double digits fall in the category of good debt.

Enemy # 3: Taxes: It is absolutely imperative to pay the least necessary tax. In order to make sure you are paying the least necessary tax, you should be working with a team of people including a certified public accountant, an independent third party administrator, attorneys, independent insurance agents, benefit experts, and independent financial advisors.

Enemy # 4: Unexpected Events: It is very important to be fully prepared for the unexpected, as unforeseen events could result in major changes in your life, family, business, or livelihood. Such events could include death, sickness, loss of job, or loss of business. The solution is having insurance that is right for you.

Enemy #5: Losses: The best way to make more money is to lose less money. Many chase high returns—as making a lot of money too soon has a lot of greed and excitement attached to it. However, it is very important to understand the system of market cycles. Also, someone shouldn’t put their foundational college educational fund assets and retirement assets at very high risk.

Enemy # 6: Lawsuits: It is absolutely imperative to protect your assets from lawsuits. Secondly, and at the same time, it is absolutely essential that you work with a good attorney who can provide you the best asset protection planning according to your needs and objectives. Thirdly, please make sure your assets are properly aligned to the plan you have structured.

Enemy # 7: Unintended Heirs & Separation: It is very important to plan your legacy. If you do not, strangers and the government will inherit your money and assets. It is also possible to plan for a multi-generational legacy that could continue well beyond three generations.

Lastly, separation/divorce is an extremely sensitive issue. I would say divorce can be worse than death. Proactive investment in quality marriage counseling (both before and after marriage) is well worth any cost.

In conclusion, taking the simple steps outlined above can help protect your wealth from these seven most dangerous enemies of wealth.

About the Author

Bimal Shah, as a financial advisor for 21 years, has helped the community to preserve and protect their assets, build lasting legacies, increase their income, and reduce the taxes they pay. To contact him, please email him at info@bizactioncoach.com or call him at 561-208-4032.

Seven Most Dangerous Enemies of Wealth

steps which can help protect your wealth from these enemies

Lack of Planning and Discipline

The Lack of a Systematic Financial Decision-Making Process

Lifestyle Account

Planning Account

Wage Account

Emergency Account

WEALTH + SecuritY = WEALTHY

Debt-to-Liquidity Ratio

Differentiating between Good Debt and Bad Debt

Taxes

Unexpected Events

Losses

Lawsuits

Unintended Heirs & Separation

Bimal Shah

financial advisor

The Seven
Enemies of Wealth

By Bimal Shah, CLU, CHFC, CASL

The Seven Enemies of Wealth are Enemies that can take any, all, or some of your wealth much faster than you can imagine.

Enemy 1: Lack of Planning & Discipline

Lack of a Systematic Financial Decision-Making Process: Without proper planning & discipline, it is impossible to build wealth. 94% of the time the failure is because of an improper planning. The first step is to create a Budget and to find out any expenses that aren’t necessary for your lifestyle. Those unrequired expenses are your Hidden Assets. The purpose of doing a budget for the wealth is to allocate the spending of money where it brings happiness and meaning to life. The next step is to maintain 3 types of primary personal bank accounts. Lifestyle Account: Checking account where we pay everyone else. Planning Account: Bank account from where all your planning takes place. Wage Account (Emergency Account): It holds wages of up to six (6) months for emergencies. Planning for this is a foundation to being WealthY(Wealth + SecuritY = WealthY)

Enemy 2: Debt

Many misunderstand debt. Some might feel we should live debt free others believe leveraging debt is good. There are two rules of thumb. Rule #1: Debt to Liquidity Ratio: At a minimum, you should maintain at least 10% liquidity to debt, and 25% is very good. Rule #2: Differentiating Good Debt & Bad Debt: For any debt such as home loan, equity line, and property loans that are below 6%, there are tax advantages, and small business loans or lines of credit that are good debt.

About the Author