Your Successful Practice

A number of days ago I was asked what I do and why I do it. This wasn’t a new question to me; over the years many of my friends and family have asked this same question. For this reason the answer was simple, to the point and clear. Since then I have felt that this is something I should think through a bit more in order to share it with you here.
 
In short, the answer is that I work for Universal Accounting Center. My position, “job”, is to enroll students in the various independent study programs we offer in accounting and tax. Generally that is enough information to move on to another topic in the conversation, but today I am going to share more of my thoughts.
 
Nearly two deacades ago I was working as a headhunter placing individuals in mid to upper-level accounting positions. At times there were more positions than candidates and at other times the opposite was true. During a time in which I needed more qualified accounting candidates I was introduced to Universal Accounting Center. It was here that I found candidates eager to apply their new-found skills and talents within the accounting profession and more importantly they had a confidence which helped them in both the temp to hire and direct hire opportunities.
 
As time past not only did I have a history of successful placements but also consulting projects with Universal Accounting presented themselves. It was through this period of time that the opportunity arose for me to come to Universal Accounting full time. Personally I felt that this was a very big decision as I wanted my next employment to be a challenge. I was still young, and would like to think still am, and felt that I had at least 1 or 2 more great rides ahead of me and wondered if this would the one for me to excel in my career.
 
Fifteen plus years later I could not be happier. It is not without trials and hard work coupled with periods of high stress but working with such a great staff at Universal Accounting each under the direction of its president Allen Bostrom we have experienced success. The ride is far from over as there is still so much to do but for 5 years running we have been recognized in the state of Utah where our corporate offices are as one of the fastest growing 100 business, in 2006 we were awarded the 313th fastest growing companies in the U.S Inc 500. These are not all of the awards and recognitions but by far are some of the highlights.
 
Having shared those professional accolades I must say that those are really not the only indicators of the success that I personally feel. As a school our success is truly defined in our graduates. Over the years I have meet with various students who were either starting with smiles on their faces as they were poised to start their dream of enhancing their accounting careers with possible promotions and pay increases dependent on their soon to be new skills only to watch them hunker down for a few weeks of study and then realize their goal. Or there are those who felt that they were at rock bottom and running out of options. Perhaps this was a new career direction or something that they had not done for years but with apprehension they started their studies and in time found the skills and confidence that they needed to move forward and find that right job.
 
7286374Then there are those that had ambitions of self employment. Yes, for what ever length of time they have considered or desired the opportunity to break out on their own and have some clients. Perhaps it was only a few clients to just confirm to them that they could or just to get some extra monies. There were those who were more bold that were preparing to go to the point of growing the largest practice in their areas offering the premier accounting and bookkeeping services that they felt businesses deserved.
 
My point is this, what I do is easy and it is the reason why I do this that matters most. I work with a team of people that help individuals get paid what they are worth in their chosen profession of accounting, bookkeeping and tax. It is the thank you letter from a student, a smile from one that I meet that says thank you. I guess I can say the reason why I do this is personal, it is the success stories. Over the years I have met them and watched them work hard to accomplish the things that they have.
 
“What the mind can conceive and believe it can achieve” – Napoleon Hill “Man is made or unmade by himself; … all that man achieves and all that he fails to achieve is the direct result of his own thoughts… A man’s weakness and strength, purity and impurity, are his own, and not another man’s; they are brought about by himself, and not by another; and they can only be altered by himself, never by another. His condition is also his own, and not another man’s. His suffering and his happiness are evolved from within. As he thinks, so he is; as he continues to so think, so he remains.” – James Allen
 
That is what I feel I have seen in these students and it is this that continues to amaze me. It is the process of human struggle to better ones circumstance that I am proud to be apart of as I work to provide for my family putting a roof over their heads, clothes on their back and food in their bellies. My family’s well being is accomplished with this position that I have at Universal Accounting which is to enroll students in our home study training programs. It is my privilege to be a part of this company.
 
This leads me to ask how those potential students come to that point of deciding now is the time and this is the right way to move forward. I will not presume to suggest that it is the same for all of the students I have worked with but I will say that there is a common theme and it is a thread of thought that I understand.
 
10007855Most everyone is either trying to take advantage of an opportunity that they see in the accounting profession or they are in the pit of despair and feel they have found a way out. The majority of those that I have counseled happen to be those considering self employment. They see it either as a way to supplement their day job in an effort to secure their situation through hard times which they may not have any control over or leave the corporate rat race and be independent. To begin I have noticed that they often ask themselves these questions:
 
Question #1
 
Is this achievable; is there a demand for the skills and expertise in the day to day application of accounting principles in business today?
 
For over a decade the demand for accountants and bookkeepers has been increasing. Brent Inman of PricewaterhouseCoopers said, “It’s clearly one of the hottest markets (for accountants) that I’ve seen.” Consider the accounting forecast recently released by the US Department of Labor. For years Universal Accounting Center (UAC) has proudly shared prior reports that by 2008 accounting jobs would increase by 20%. That great forecast has been extended to 2014! They predict “Employment of accountants and auditors is expected to grow faster than average for all occupations through the year 2014.
 
Considering it further we need to understand who a potential client could be. With an accounting practice who is going to be your target audience? If you think about it, what percentages of businesses need accounting and bookkeeping? You are right, 100%. Why? Of course there are the taxes but there is so much more. Accounting is done to determine ROI, to budget, to get lines of credit etc.
 
Of the 100% of businesses that need accounting services it is important to they know which of them would be potential ideal clients. Out of those businesses, 92% have fewer than 20 employees. Those are the businesses you will want to target.
 
Yes there is a demand for these accounting services.
 
Question #2
 
Can I really make a good living offering accounting and bookkeeping services?
 
Did you know that the national average for monthly bookkeeping services is $300 to $400 a month? ($500 a month when also offering tax planning and preparation services)
 
Well, if you divide how much you want to make ($_________) by $300 or $400, you’ll need to have (#) client’s to meet your financial goals each month. Most every time I have done this exercise with a person I have found that this is not only more easily achievable than they expected but more profitable as well.
 
The “Life Time Value” of a client is also important to understand as once we have client their retention as such is the objective. There is no reason to get a client to only later lose them. According to a recent AICPA study, the average client lasts for 7 years, so if we take an average client of ($3,600 or $4,800 in annualized billings)a year and multiply that times 7 years, which equals ($25,200 or $33,600) that is the LIFE TIME VALUE of just that one client. Isn’t that amazing?
 
7254640As for the time to service these clients, realize that it will take on average 8 hours a month per client to service. So when we take how many clients you need (#) and multiply them by 8 (since an average client takes between 6-8 hours a month to service), that will give you how many hours you’ll have to work per month to service your clients needs. It is now that so many see this as something that they can easily start working towards. It is that light at the end of the tunnel that excites them to start now.
 
At a minimum an accounting and bookkeeping service should be charging $30 to $60 an hour for those services.
 
After answering those two key questions they then realize as I am sure that you have that the goal moving forward is to be in business for themselves but not by themselves making the money that they deserve.
 
Universal Accounting Center is here to help start/build your business TODAY. To do this we have a tried and proven program specifically designed to help you in three ways. – we help you quickly and easily start/build your business by getting the credentials and qualifications you will need.
 
– we help you know how to get clients quickly with our successful marketing program and
– we help you better service your clients in a very profitable way.
 
Nine of 10 businesses that you see everyday need your services and our program will help help you present your services to them so that they will understand how you can help them put money on their bottom line.
 
So with our proven system you can target those companies and meet your goals now, instead of putting them off! This is also very profitable. With our proven system you will make at least $30 – $60 per hour offering accounting and tax services.

Statistically speaking 74% of our graduates have their first client in 30 days of implementing our proven marketing programs. If you could see clearly that with our help, your business would provide you with the income, flexibility, goals, and dreams that you desire and that you could have your client in 30 to 60 days to pay for your training to start your business, would you be ready to get started in a program like that right away?

 

ptp-coachingPerhaps most important is the Free Support and Coaching that comes with your enrollment as a student of UAC. With your enrollment you will receive support, so that you are in business for yourself, but not by yourself. You have a team of professionals that are committed to guiding you as you go through the process of training, as well as building your business: not only your academic adviser, but a marketing coach, accountants, bookkeepers and CPAs, that are available to consult with you on a case by case basis as you are building your business to assure you have the support you need to be successful!

You will be assigned an accountant or CPA to help you with your clients with accounting/bookkeeping questions. An accountant to help you with the accounting software questions that you may have as you service different clients (Peachtree, Great Plains, QuickBooks Pro, etc.) And a coach to start our proven marketing program.
 
Our Goal with these programs is to help you provide the services that your clients need so that they can see you as their Profit and Growth Expert. With our help you will do more than offer your clients accounting and bookkeeping. To be the premier services in your community you will also focus on reducing their taxes, improving their profits and put more money in their bank.
 
100% money back guarantee

For the Professional Bookkeeper program, it simply reads:
 
“If after following the steps of the Universal Practice Builder for 12 months, you do not have an increase of more than $30,000 in annualized billings, then simply return all materials given and we will refund all monies paid.”

 

pb_coachingFor you Universal Accounting is committed to providing you with all of the tools you need to achieve the success that you desire; our courses provide you with the accounting knowledge, the extensive practical hands on experience, the certification, the step by step proven marketing model and the support to help you become not just a full charge bookkeeper, but truly the profit and growth expert for your clients:  You have the knowledge and confidence to step into any small business situation, set up the chart of accounts, advise the business on how to get control of their cash flow, increase their profits and legally lower their tax burden.

Now comes the moment to pause and check were we are, perhaps this is a reality check.
 
If I could show you how to meet your goals to (have your bookkeeping business up and running in just a few months / have more income from your business in just a few months), would this be something you would want to do?
 
Think for a moment what you are thinking.Yes there a demand, a true need for accounting and tax services, YES!Is there a turn key approach to starting and building a successful accounting service, YES!Can I be in business for my self but not by myself, Yes – with Universal Accounting you can!
 
To continue let’s see what is needed to insure success in weeks rather th an months.

Become a certified Professional Bookkeeper, PB

 

With our Professional Bookkeeper program Universal’s approach to training is one of practical hands on experience;  We don’t train you to be a data entry clerk, you will be completing journals and ledgers, you will be putting pencil to paper and completing sets of books for a total of 11 different small businesses.  Universal’s methodology is that we want you to understand the fundamentals of full charge accounting so that you are confident utilizing any accounting software and understand the mechanics of what is going on behind the input.  We find that by this extensive practical hands-on training our students:
 
Have a higher retention of the accounting principles and, 2) Have an increased confidence level as you then take the next step and start and grow your own successful practice.
 
Let me go over some of the benefits of why our program is so easy.You’ll learn how to talk to your clients so that you’re not talking over their head. We train you in the fundamental principles of accounting for small business.
 

·How to assemble and develop the financial picture and consult on key business issues

 

·How to transform transactions to a full set of financial statements, the single best indicator of a company’s financial strength

Then we teach you how to become a full charge bookkeeper, from beginning to end. From there you learn 9 different businesses so that when you go out into the real world you’ll know what you’re doing. All of this is done from scratch, long-hand, so that you have the confidence to take on clients and do their books the right way.

You learn the day-to-day procedures used by businesses each month to record and tabulate their financial events.

·Real Life Data Entry

·How to prepare payroll like a seasoned pro

·Complete accounting systems for four different types of businesses

·Experience accounting systems for multiple industries under one roof

·Practical Application for the Furniture, Automotive, Food Service, and Apparel Industries

You get into the processes that will help you become the expert in your area, an expert for each of your clients.We train you in the more sophisticated issues associated with creating a set of books from scratch, reviewing the results internally, and closing out the books at the end of the year.
 

·You’ll know the first things you must do when entering a new company

·How to know your results are right-on, self auditing

·Complete accounting system for 4 more businesses

·How to create a hybrid system of accounting that’s easy & accurate

·The special needs of the Small Manufacturer, Contractor, Dealer, and Non-profit

 

You’ll then see how to market yourself and getting paid what you are worth.There’s a system to it. From there we teach you proven marketing techniques to get clients.

 

·Determining a WIN/WIN fee so that you are making $30 – $60 per hour and how to negotiate it.

 

·Success in Weeks – not Months

 

·A step-by-step approach for starting your own bookkeeping& accounting service.

 

 

businesscard-pb-w

The workbooks are designed to help you master the subject material and pass the final exam. After completing the Professional Bookkeeper program and passing the final exam with better than a 90% you are certified in the practical application of the day-to-day accounting procedures in small business allowing you to use the “PB” designation after your name.

 

Universal provides you a step by step, proven marketing guide to successfully set up your home office, market and advertise your services, and present your services in such a way that enables you to develop long term, profitable relationships with your clients.

 

 

Universal Accounting has helped more than 40,000 individuals worldwide build successful accounting and bookkeeping practices over the past 30 years, so we know what works, we know how to do the right thing in the right way that gets the results you are seeking, and we pass that information along to you so that it takes the “guesswork” out of marketing your business, so that you can easily achieve the success that you desire.

We introduce you to more than 12 proven, inexpensive and highly effective marketing strategies, as well as provide you a customized business website, which Universal hosts for you free of charge for the first six months, and teach you how to use this powerful marketing tool.

Become a certified QuickBooks Specialist, QS

 

Become certified as a QuickBooks Specialist “QS”, with the Professional Bookkeepers Guide to QuickBooks (PBG) training.When finished with the training you will be able to offer QuickBooks set-up and consultation services for $65-$95 per hour.

 

You’ll find that the majority (80%) of small businesses using accounting software (close to 50%) use QuickBooks for their accounting purposes. With such a market share, you can create a sizable revenue stream for yourself just by offering companies initial consultation and set-up services.

 

 

productpicAlso, when you finish you will take a final exam. To prepare, you should complete the modules of the PBG program, including all the learning activities. The workbooks are designed to help you master the subject material and pass the final exam. Those passing with scores of 90% or greater are certified as a QuickBooks Specialist, QS.

 

Once you are certified as a QuickBooks Specialist not only does this help you maximize your efficiency in doing the bookkeeping for your clients but it enables you to create an additional income stream for your business:

 

  1. Every time you set up a client – there is a set up fee.
  2. Every time you train a business on QuickBooks there is a training fee.

 

Becoming a Financing Consultant

I’m not sure how much you know about SBA loan Packages or getting business lines of credit…

What “Becoming a Financing Consultant” addresses and trains you in is the truism that at some point almost every business is going to have to take out a loan. Whether it is to start, grow, or just to stay in business. When they go to the bank to get this loan the bank requires that you fill out a number of forms needed to determine if a loan can or should be given.

 

bfc_wbTo get the necessary paperwork filled out, the business will have to go to a local CPA or large accounting firm and they CAN charge you UP TO $2,500 to get this loan package completed.  Then when they take the completed paperwork back to the bank, the bank requires that you turn in a financial statement every quarter in order to keep the loan.

 

Imagine if you were the one doing the paperwork, they would be coming back to you and now you have not just a one-time project but a monthly client.

 

Becoming a Financing Consultant” will instruct you how to fill out this loan package. It takes about 8-10 hours to fill out the paperwork; we recommend you charge at least $500.00 to $1000.00 for the work as a set fee.  It is a good deal for you ($50 to $100 an hour) and they are saving money from what others may be charging, which you could also but remember you are trying to get a monthly client here.  It is a good deal for both parties.

 

Becoming a Financing Consultant (BFC) is a very useful marketing tool and also the more services you offer the more marketable you are.

 

Become a Profit and Growth Expert

 

The Universal Practice Builder workshop then is your marketing training on steroids.This marketing workshop will help you build for yourself a profitable accounting firm. You learn the proven system to build your practice using the Universal Practice Builder™ model.

 

You will get the skills you need to market your practice so that you can regularly meet with qualified prospects, acquire clients and retain them as their Profit & Growth Expert™. This program / workshop is designed to give you the keys to quickly get the clients that will bring you $3,000 to $10,000 in annualized billings each month.

 

In the UPB program you will learn how to market your accounting and tax preparation services at a more intensive level. Here are just some of the reasons you or your practice need to use the Universal Practice Builder™ as your firm’s marketing program:

 

  • Universal Accounting® focuses not only on marketing but also client retention through the use of qualified bookkeepers/accountants, tax experts and profit training. We recognize that the true worth of a client is their Life Time Value (LTV) which defines the success of a firm.
  • The Universal Practice Builder™ is the most extensive and diverse program offered to accounting and tax firms today. Offering more than 32 proven strategies to leverage from, we confidently stand behind our guarantee. Everything does not hinge on one effort but rather a collection of tested, inexpensive and productive marketing activities to help any accounting and tax practice in becoming the premier accounting firm in an area.

 

·12 Business Development Tools

·12 Fundamental Marketing Building Blocks & Strategies

·8 Leveraged Marketing Methods (Marketing on Steroids)

 

You receive state of the art marketing materials and learn the systems that will allow you to leverage your time and maximize your billable hours. Take the strategic and tactical approach to growing your firm while learning how to set the goals and take the steps to realize them.

 

This multi-sourced client generation system is easily customized to your marketplace. It is because of this that the Universal Practice Builder is your solution for building your firm with a proven system backed by our guarantee!

 

Get 1, 5 or more than 10 new clients each and every month with this program and it is up to you. It is with these selling strategies and training that you will learn how to you convert your leads into new clients.

 

Give us 2 days for training and we will help you achieve $30,000 to $100,000 in new annualized billings.

 

The Universal Practice Builder is an advanced marketing training that guides you in the development of a strategic and specific marketing plan, and introduces you to numerous proven marketing techniques.We teach you to leverage these techniques so that you can rapidly grow your practice and recognize the financial growth that results.

 

You work closely with a professional marketing coach in the development of your marketing plan.

 

Universal is committed to your success.  We stand behind our marketing training with Universal’s Ironclad Guarantee: “If after following the steps of the Universal Practice Builder for 12 months, you do not have an increase of more than $30,000 in annualized billings, then simply return all materials given and we will refund all monies paid.”

 

Become a certified Professional Tax Preparer, PTP

 

businesscard-ptpI always advise my students that if you see yourself offering tax preparation services to your clients at some point in the future, I recommend you become a Professional Tax Preparer at the same time as become a Professional Bookkeeper.

 

Not only do you get the accounting training but you will also be trained in very extensive Individual and Corporate Tax with our Professional Tax Preparer, which will even prepare you for the Enrolled Agent Exam.When you complete the course you’ll be a 1040 and business returns expert. You will also learn how to market yourself and how to retain your clients, for years to come.

 

The workbooks are designed to help you master the subject material and pass the final exam. Those passing with scores of 90% or greater are certified as a Professional Tax Preparer.

 

After approximately 80 hours of focused training in the practical applications of tax procedure, you will take a final exam. To prepare, you should complete the four modules of the PTP Program, including all the learning activities.

 

You will learn:

ptp_wbEstablishing the Tax Foundation – How to complete tax returns for a majority of tax payers. Concepts and strategies that will ensure you pay a lower tax than you otherwise might.

 

Becoming the 1040 Expert – More tax-saving tips, including how to itemize a return, and deal with business expenses, capital gains and losses, and depreciation. Specifics regarding self-employment, rental property income, Alternative Minimum Tax, tax payments, extensions, and amended returns

 

Profitable Business Returns – The various types of business, and the tax forms that service them. The hands-on process of preparing returns for sole proprietorships, S Corporations, C Corporations, Partnerships, and Limited Liability Companies.

 

Building Your Successful Tax Practice– The step-by-step process of successfully starting a building a profitable tax practice including a proven marketing program, interviewing techniques, and fee calculation.

In business for yourself but not by yourself


 

The Master Coaching program is an extensive, pro-active coaching program that will involve a personal coach who will assist you in implementing applicable UAC programs that you enroll in as well as limited marketing support to achieve your professional goals.

 

The Master Coaching program includes:

·12 telephone coaching sessions to set objectives, determine assignments, assess client progress, and assess sales activity and completion of assignments. Sessions will be held no more frequently than weekly, and must be used within the 6-months of starting.

 

A detailed coaching guidebook entailing program benchmarks and success path.

 

·Six (6) months of student-initiated coaching which allows student to call in on various questions or issues regarding UAC curriculum, accounting and bookkeeping, accounting software, or marketing.

 

·You will also receive marketing support where we will find 5 business owners who want to meet with you regarding their accounting.  When you have compiled your contact list and are prepared with your sales presentation, as outlined in your course, we will call through your list and if necessary, our additional lists, to find 5 business owners who will meet with you. We will do these one at a time so we can debrief with you after each appointment so each appointment gets more effective for you.


Now is the time, the best time to start.Don’t leave it to chance.With Universal Accounting you can give you the credentials and qualifications to confidently start and build your accounting and tax practice using the successful marketing tools we offer.With Universal Accounting you are in business for yourself but not by yourself.


 

Our Goal with these programs is to help you provide the services that your clients need so that they can see you as their Profit and Growth Expert.With our help you will do more than offer your clients accounting and bookkeeping.To be the premier services in your community you will also focus on reducing their taxes, improving their profits and put more money in their bank.

 

Universal is committed to providing you with all of the tools you need to achieve the success that you desire; our courses provide you with the accounting knowledge, the extensive practical hands on experience, the certification, the step by step proven marketing model and the support to help you become not just a full charge bookkeeper, but truly the profit and growth expert for your clients:  You have the knowledge and confidence to step into any small business situation, set up the chart of accounts, advise the business on how to get control of their cash flow, increase their profits and legally lower their tax burden.

 

I realize this was a long but it is the answer to my original question: “Roger, what are doing right now, are you still with Universal Accounting?”

 

Yes I am and proud of it!

 

Best Wishes,

 

image001Roger Knecht

President
Universal Accounting
800-343-4827
 
To learn more how Universal Accounting can help you I invite you to visit our online short tour of services – http://www.universal-accounting-center.com/intro-Universal-Accounting.htm
 
Roger has extensive experience in marketing and management with corporations of all sizes and has successfully implemented the principles of growth he speaks about in the following video segment and also in many of the presentations he does for Universal Accounting Center.
 
Roger is a past Vice President of Education for IMA – Utah Chapter. He also has extensive experience in the Accounting Staffing industry. He earned his degree in Communications from Brigham Young University.
 
Since joining Universal Accounting in 1999, he has grown operations for his division tenfold, making Universal Accounting one of the Top 50 fastest growing companies in Utah. Roger has been a favorite presenter at Universal’s seminars, combining wit and wisdom in sharing the principles of small business success.Some of his presentations include the following: “Limited or Limitless: Expanding from One to Many,” “The Power of Your Practice: Start and Grow Your Own Successful Accounting Practice,” and “Five Steps from Rags to Riches: Additional Services that Will Pay Over 100 Dollars Per Hour.”
 
Roger says, “The first and most important threshold for the growth of your company is to stop seeing it as an extension of yourself and start seeing it as its own being, with its own needs, aspirations and destiny. It’s when you set it free that it becomes your servant and not your master.”

4 Responses to Your Successful Practice

  1. rknecht says:

    Jessica has a day where she’s feeling … really good about her life.

  2. rknecht says:

    Allen Bostrom, former President of UAC, says, “Roger’s professional abilities and enthusiasm for Universal Accounting have been critical to the growth of the company during the past dozen years. Had it not been for Roger’s contributions, we would not be where we are as a company today.”

    http://www.knowquickbooks.com/quickbooks-articles/roger-knecht-uac-president-1474.html

  3. rknecht says:

    Effective April 1st, 2014, Roger Knecht will be President of Universal Accounting Center. Allen Bostrom, President of UAC since 1992, has retired the position, although he will remain Chairman of Universal’s Board of Directors.

    http://www.universalaccounting.com/press-room/uac-names-roger-knecht-new-president.html

  4. Roger Knecht says:

    Tom Corley, on his website RichHabitsInstitute.com, outlines a few of the differences between the habits of the rich and the poor.
    1. 70% of wealthy eat less than 300 junk food calories per day. 97% of poor people eat more than 300 junk food calories per day. 23% of wealthy gamble. 52% of poor people gamble.

    2. 80% of wealthy are focused on accomplishing some single goal. Only 12% of the poor do this.

    3. 76% of wealthy exercise aerobically four days a week. 23% of poor do this.

    4. 63% of wealthy listen to audio books during commute to work vs. 5% of poor people.

    5. 81% of wealthy maintain a to-do list vs. 19% of poor.

    6. 63% of wealthy parents make their children read two or more non-fiction books a month vs. 3% of poor.

    7. 70% of wealthy parents make their children volunteer 10 hours or more a month vs. 3% of poor.

    8. 80% of wealthy make Happy Birthday calls vs. 11% of poor.

    9. 67% of wealthy write down their goals vs. 17% of poor.

    10. 88% of wealthy read 30 minutes or more each day for education or career reasons vs. 2% of poor.

    11. 6% of wealthy say what’s on their mind vs. 69% of poor.

    12. 79% of wealthy network five hours or more each month vs. 16% of poor.

    13. 67% of wealthy watch one hour or less of TV every day vs. 23% of poor.

    14. 6% of wealthy watch reality TV vs. 78% of poor.

    15. 44% of wealthy wake up three hours before work starts vs. 3% of poor.

    16. 74% of wealthy teach good daily success habits to their children vs. 1% of poor.

    17. 84% of wealthy believe good habits create opportunity luck vs. 4% of poor.

    18. 76% of wealthy believe bad habits create detrimental luck vs. 9% of poor.

    19. 86% of wealthy believe in lifelong educational self-improvement vs. 5% of poor.

    20. 86% of wealthy love to read vs. 26% of poor.

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