ForeclosuresMass - ForeclosuresMass Monthly - Interview with the Expert - FCM Co-Founder Blasts Her Way Into Prosperity Thinking (September 2008)

Do you look at successful entrepreneurs and feel envious of their success and achievements? Do you think, "What am I doing wrong that I can't have success, too?" We'll let you in on a secret - even the most successful people have doubts, insecurities and days when they think they should close up shop and go work as a cashier at a big-box retailer.

The difference, however, is that successful people have resources, tools and other like-minded people to help them through these periodic down times. Case in point: FCM co-founder Sheila Farragher-Gemma has been using Dan Kennedy's Wealth Attraction for Entrepreneurs program to blast her way out of negative thinking and into prosperity thinking and taking action.

ForeclosuresMass Monthly: Sheila, how did you learn about the Dan Kennedy program and what attracted you to it?

Sheila Farragher-Gemma: Actually, I first learned about Dan Kennedy through our (that is, Jeremy Shapiro and myself) coaching with business and e-myth coach David Hilton. Marketing has always been my passion and we were introduced to the E-myth marketing principles through Hilton, who also introduced us to the business and wealth principles espoused by Dan Kennedy.

I wasn't looking for a financial program per se. The one idea that had really struck me, as a result of David Hilton's coaching, is that it doesn't matter how successful you are, you still have insecurities. That's what attracted me to Kennedy's Wealth Attraction program - because he talks about the success beliefs, philosophies and beliefs of millionaires and multi-millionaires.

* Next 37 17 investors only!

A negative mindset can be very debilitating. It's a downward spiral - you start off thinking you're a failure, and that no new clients will ever call you and then you're thinking you'll lose your house and your business and that you'll end up on the street as a bag lady.

The biggest battle, with regard to business and personal success, is the one going on in your head - it's why you need tools and resources, like coaching, to learn how to stop the negative mindset cold. That's where the Dan Kennedy program comes in.

SF-G: When you're in a negative mindset and you're feeling useless, your first instinct is to get tight and hang on to everything, including money. For example, when I go out for coffee and I get eighty-five cents in change, my instinct is to hang on to it. With Dan Kennedy's program, I learned that when you feel that tightening, you're really closing yourself off to money and prosperity coming in. So now I put that change in the tip jar.

Kennedy also talks about how successful entrepreneurs have the ability to understand these processes and ideas - and that many people do not. In fact, I have shared this program and its ideas, but some people just don't "get it." Therefore, Kennedy says, we should gladly do things like tip well and give to charity.

I struggled at first with giving 30% tips - why should I pay extra to someone who is simply bringing food to the table? However, the extra 10% could be the difference between the waitress feeding her family that night or not. Tipping the extra money is an empowering feeling - basically, you're affecting people's lives in a positive way.

FMM: Do you budget, then, for this "extra" money that you're spending? It seems those "little" amounts could add up fast.

SF-G: That's the beauty of the Kennedy program. In this particular program he talks about setting up Wealth and Giving Accounts - I've listened to his other programs and this is the first time I had heard this idea.

What you do is set up two bank accounts and then you put a percentage - from 1 to 10% -- of all income into each account. And by all income, that means the .25 cents you found on the street to interest income. And that is gross, not net!

The Wealth Account is strictly for building wealth - you don't spend it when the car breaks down or your dog eats his bed and ends up needing an operation. You use the Wealth Account to fund investments that will build additional wealth, such as real estate.

The Giving Account is money you give away - and that includes the extra 10% tip you give the waitress or to charity.

It's amazing how having these accounts changes your mindset. Kennedy recommends that you make regular deposits so that you can see how much money you're really bringing in. You can't do deposits once a year or once a month because that defeats the purpose of the exercise. Just having these accounts has completely changed my mindset.

SF-G: My first inclination is to stick my head in the sand when it comes to the "measurement" part of handling money. With Dan Kennedy's program, you learn to constantly track what you're bringing in - and to break it down by yearly, monthly and even weekly goals.

For example, say you want to make $XX dollars this year. You track what you've done and realize you're 50% of the way there. If you're in a negative mindset, you can look at those very real numbers and say "What do I need to do to get back on track?" Having these goals puts you in control. I find myself saying, "Ok, what can I do today to bring in leads?" versus, "I'm not meeting my goals."

What happens is that you become action oriented. It's very easy, when you're feeling down, to sit on the couch watching TV and eating junk food.

Having weekly, monthly and yearly goals, however, takes the overwhelming negative thoughts, such as, "I have no money, I'm a failure," and turns them around to "I need one more client," or "I need one more deal," which is much more manageable.

FMM: Can you talk a little bit about what Dan Kennedy means when he talks about "poverty mindset" versus "prosperity mindset"?

SF-G: It's just as the names imply - a "poverty mindset" is where you see tightness and hoarding everywhere. If I have a poverty mindset, I won't put that eighty-five cents in the tip jar. I need to hang on to it for the future because money is in short supply. A poverty mindset is very disabling. You see yourself as broke, so you can't afford to fill your car with gas. Because you don't have gas - or think you can't afford gas - you don't drive out to a client's home or business because you "can't afford to."

With a prosperity mindset, you see the positive. One of my syndication partners attended a networking event where a lot of people were moaning and groaning about the economy and how it had negatively affected their businesses. Well, my partner kept talking about how her business was thriving because it can thrive in any economy - and she had people flocking to her and asking questions.

I also stopped reading the newspaper and watching the news - it's all doom and gloom anyway and can negatively affect your outlook. I learned this lesson during 9/11 - my husband and I sat in front of the TV for week. Literally, nothing got done in our house. I learned that no matter what is going on, you still have to live your life.

FMM: Dan Kennedy makes some pretty big claims on his sales page about the Wealth Attraction program. Does the program live up to them?

SF-G: Absolutely! I've listened to it three times now. I have it in my car and when I'm feeling like I'm entering a negative mindset, I put it on. It pushes me to do just one thing - to get physical and take action. Then, once I do, it's like a light switch has been flipped and whatever situation was bringing me down now has a totally different perspective. The program has completely changed my outlook.

At the end of the day, the battle is all in your head. If you can conquer your self-doubts, you can do anything.

Sheila Farragher-Gemma is the co-founder of ForeclosuresMass Corp. and a partner of Clear River Partners, LLC and GKIC Central Mass and NH.

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