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THE NEXT BIG DREAM: Millions Will Compete & Millions Will Win...Millions

Mommy Millionaire

Kim Lavine has transformed the lives of millions through appearances on the Today Show, Rachel Ray, GMA, NBC, ABC, CNN, CNBC, FOX, NPR, Oprah & Friends & features in USA Today, Guideposts, Inc, Business Week, Entrepreneur, and Forbes, to name a few. Her startup bible MOMMY MILLIONAIRE was called by Publishers Weekly “A top-notch how-to guide on launching a business…a rare gem.”

Read more in the newly updated Platinum Version of MOMMY MILLIONAIRE Available for immediate download by eBook or PDF. Filled with all kinds of bonus materials including document templates, updated tips and the real skinny on what went down since I wrote this book.

Price: $9.99 (Upon purchase you will immediately be redirected to download in EPUB, MOBI or PDF formats)

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Kim Lavine's Media Highlights
Kim Lavine's TV Highlights
Kim Lavine
Listen as I tell you a story, of history being made...

Kim is on a mission to inspire people to follow their dreams, empowering them with hope, honesty and faith.

Identified as America’s Expert on Inspirational Business Advice, Kim touches and inspires millions around the world through her appearances on The Today Show, Rachel Ray, Good Morning America, NBC & ABC news, CNN, CNBC, FOX, NPR, Oprah & Friends Radio Network, and features in USA Today, Country Living, Guideposts, Inc, Business Week, Entrepreneur, Women's World, and American Baby to name a few. Read More...

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Kim Lavine's Print Highlights
Tuesday
Nov202012

« Free Money: Working With Angel Investors and Venture Capitalists »

by Kim Lavine

I got home just in time to celebrate Christmas with my family. Christmas Eve was spent shopping for my kids’ gifts from Santa and staying up all night to wrap them. For the first time ever, I didn’t want anything for Christmas. Ironically, I found myself thinking I already had everything!

My son, after opening all his presents on Christmas morning, looked at me with all the challenge a seven year old can muster:

“Mom, if Santa’s elves are making all the Christmas presents at the North Pole for all the kids in the world, how come there are UPC codes on the boxes?”

I had to think fast

Seven years old was just too young to let go of his belief in Santa.

“Santa needs to control his inventory too,” I explained. “Do you know how many presents he has to make and deliver? This is a modern world, and even Santa and his elves have to use whatever technology they can to make sure every boy and girl in the world gets their presents on time.”

He bought it

He went to the school the next day to tell all the kids how Santa had his own EDI inventory control system.

My First Million Dollars

I was in a continuous state of panic that wouldn’t go away for even a minute. My body was in a perpetual fight-or-flight, adrenaline-pumping state. There was always too much to be done with too little time to do it in, and our debt had started to catapult into critical mass as our credit card companies raised our interest rates to obscene heights.

It was then I came to the simultaneous revelation that in just over the last two years I had made my first million dollars!

My CFO had managed to cobble together some financial statements, including a Balance Sheet and a Profit and Loss for 2004, before he left right after the first of the year for an exciting new life in San Francisco.

“Look at this!” he announced to me before he left. “You made money last year!” He stuck out the P & L and a copy of my tax returns he had prepared for proof. “That’s awesome!” he proclaimed in his enthusiastic way. “I want you to take this P & L and go to your banker and show it to her!” He highlighted the positive number on the statement for emphasis. “I mean, with what you guys had to recover from last year, it’s just unbelievable. She’s going to be really impressed!”

I was so excited

I couldn’t believe it. Even though I was drowning in debt, I technically made money! Making money in just over two years of starting our business was an exceptional accomplishment. Conventional wisdom says that most businesses won’t make money in the first three years. “If only I just didn’t have that bad year in 2003,” I said, “just think where we would be now instead, debt free and making money.”

“2003 was the best thing that ever happened to you,” my CFO said

“What are you talking about? Why do you say that?”

“You would have never changed your business model, going from kiosks to big retailers, if you didn’t have that horrible year. You would have run that product through those kiosks a couple of years maximum. Then what? You’ll probably make a lot more money this way."

What’s valuable is not so much this product, it’s those channels of distribution it’s penetrating. That’s where the money is. See all that debt on your balance sheet? You bought those channels of distribution with that debt. Now you have an obligation to keep shoving more and more product through those channels.

Keep designing—keep innovating. Keep product pumping into those channels. That’s where the value of this company is”

I was going to miss that man

He had admitted to me that he was once just as scared and strapped as I was, and he had a happy ending. Turns out just about every millionaire I ever met had the same story.

He had a company that designed computer software. He told me that I had potential to make more money than he had. Even my millionaire mentor friend told me the same thing over lunch a week later. I was so preoccupied with the past, that I never had a minute to look ahead to the future.

An Excerpt from MOMMY MILLIONAIRE

Read more in the newly updated Platinum Version of MOMMY MILLIONAIRE Available for immediate download by eBook or PDF. Filled with all kinds of bonus materials including document templates, updated tips and the real skinny on what went down since I wrote this book. CLICK HERE TO BUY THE BOOK

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