Saturday, 23 May 2009

The business of wealth, and Bannatyne, and Fielding.

It's only a few days until the 28th and 29th of May, then the Business Start up Event will be on at the Excel centre in London. Entry is free. I saw an advertisement for it in the paper this week, with Levi Roots of the reggae reggae sauce fame. Levi said that he used to go to the event before he went on Dragons Den. As well as featuring famous businessmen and women, there are also stands from UK government business departments, giving free advice, so it is completely legitimate. I'll be there, and I'll post a review of how it went.

I recently was considering buying the wealth education information DVDs by TV's Secret Millionaire, Gill Fielding. I always wait awhile before making any purchase, and I'm glad I did, because I have now changed my mind on buying it right now. It's due to value., when compared to other information such as from Duncan Bannatyne. I do not believe she is offering as good a deal as Duncan.

It's always good to think about who you take financial advice from, and look at their track record. There is no evidence that Gill Fielding has a run a successful business, other than her financial education business. I am always a little bit skeptical of financial gurus who only seem to be able to make money, from selling information about money.

Compared to a mega-millionaire like Duncan Bannatyne (£310m), Gill (£15m) is 20.6 times NOT as wealthy. Bannatyne's 3 books: Wake up and change your life, Anyone can do it, How to be smart with your money, all added together, sell for £20.57 brand new on Amazon. In addition, you can watch a video of Duncan's rise to wealth for free, on YouTube.

Gill's main DVD set currently costs £125, this is 6 times more expensive than all of Bannatyne's financial information put together, yet it is Bannatyne who is is 20.6 times richer. That doesn't make sense. Her stuff should actually be 20.6 times less expensive, based on real-life accomplishment. Therefore her DVD set should be priced at.......... £0.99!! That's right, ninety nine pence! In fact, mathematically, everything she offers put together should be £0.99, when compared to all of Bannatyne's stuff.

Gill Fielding can charge whatever she wants, and I know that other UK wealth gurus charge thousands of pounds for their seminars. It is my duty as a practitioner of good personal finance to select good deals, so I have to consider the plus and minus of every deal.

I've been thinking about how gaining wealth is a tricky business, with many people offering advice, and its hard to know who to believe. I always want that extra leg up in terms of knowledge and opportunities, but in the end, the facts speak for themselves. Next time someone offers you financial knowledge for a price, look at how rich they are, compared to other people offering financial advice, and how they got rich, then make your choice of whether their advice is worth the price they are asking. Always thoroughly research any 'wealth guru' on the internet before taking any of their advice.

One of my dreams is to get so wealthy and prominent that I can legitimately give a completely free wealth creation seminar every year, because I would love to spend the whole day talking about wealth, and helping people to become financially successful. I need to seek more money before I can fulfill this dream.

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Straight from the horses mouth