Today's Episode is Sponsored by the Word...

Vocabulary.

How important is this word?

Initially I would think that after 4th grade the need for an extensive vocabulary would be a whopping ZERO.

Then, thinking further, I realized that the more specialized someone gets in school the MORE their vocabulary increases.

(Imagine a med student skipping the whole vocab section! "Nurse, could you please hand me the thing-a-ma-jig?" Scary.)

Recently meeting with a home owner, I realized how our vocabulary is in direct correlation to how much or little we prosper. The gentleman proposing the deal started saying things like "a 2-year may work" and "lease option" and "what's the secondary."

Now, many people may know what these things mean...but do they, really? They have a 'feeling' about what terms like these mean, but the gentleman proposing them KNOWS what they mean. He can see the deal in his mind simply because he has words to describe it. These words will be used to communicate with a mortgage broker, a title company, an insurance company and the bank, just to mention a few!

In business, your vocabulary can give you a significant advantage in structuring deals and creating wealth.

Terms like "partnering" take on a whole new meaning in the context of a "manager investor." How can YOU benefit from that situation?

"I don't know, guys. How can I?"

You can benefit by starting to increase your vocabulary by one powerful, financial word each day. Go to www.businessdictionary.com to look up words you don't know.

Use the terms in conversations with your friends (even IF they look at you weird when you ask "would you like to put your holding into my trust?")