Why is it that 80% of companies that are able to survive the first five years of business will usually fail in the next five? Shouldn't they know what to do after being in business for the first five years?
The reason is because markets and economies are changing so fast that what works in business today will not work in three to five years. If you have the mindset of constantly doing things the same way and maintaining the status quo, you will soon be out of business.
Successful entrepreneurs are engaged in constant and never-ending improvement (CANI). They are always finding ways to innovate and improve their business operations, marketing, products and services. They know that if their business is not improving and growing, it is dying. Bill Gates (founder of Microsoft) once remarked that the key to succeed in business is to innovate and make yourself obsolete. If you don't make yourself obsolete, your competitors will make you obsolete.
This is why the moment a software like Windows is released, Microsoft is already working on the next version and upgrades like Windows 98, Windows 2000, Windows NT, Vista and so on. Bill Gates knows that the moment they stop innovation, another company will create an even better software and take over their customers.
This is exactly what has happened to companies that did not change fast enough. Back in the 1990s, the top selling mobile phone was Motorola. Motorola produced the best-designed and technologically advanced phones. Everyone, including me bought a Motorola phone. So, where is Motorola today? Last I heard, their mobile phone business has been losing so much money that Motorola is thinking of shutting down the whole mobile phone business altogether. What happened? Well, Nokia and Sony Ericsson happened to innovate even better designed and more user friendly handsets that captured all of their market shares and profits.
Do you know which is the first search engine on the Internet? Is it Google? Yahoo? MSN? The answer is none of them. The world's first search engine is Alta Vista. Many of you may never have heard of this brand simply because it has it is an obscure site that very people go to. Needless to say, the company that was once a market pioneer and leader is now a business failure. Again, what happened was that the founders had the mindset that their search engine was good enough and there was no need to change what was working.
This left the door wide open for Yahoo! to come in and take away that leadership position. Then what happened next? Well, Yahoo! was too slow to extend their service range and innovate their advertising services such that Google (one of the newest Internet search engines) came along and took away 70% of the market share, leaving the remaining 30% to be fought over by the other search sites. In today's ever-changing marketplace, a company that is the market leader today could be bankrupt five years later, if they stop innovated and finding new ways of doing things.
Instead of seeing this fact as a threat, see it as a fantastic opportunity. This means that your new company could take over the leadership position of the largest competitor today and even put them out of business! The key is to find a way to serve their customers even better then they can!
So, let me emphasize again that unless you keep innovating and changing the way you do business, you will be out of business soon enough. I can tell you that if I did not grow my business to enter new regional markets like Indonesia, China, Thailand, India and Malaysia, I will be bankrupt today! My company's monthly overheads are about $500,000 and Singapore only accounts for 50% of my sales and profits. If I did not constantly focus on creating new programs (i.e. the Wealth Academy and Internet Marketing Academy series), writing new books (two a year) and changing my marketing and distribution strategy every day (i.e. entering the Singapore schools market), I wouldn't still be the market leader in personal development training in Asia. Another competitor would have caught up and blasted me away to oblivion.
Today, it is impossible to maintain your position in the market by doing the same thing. The reason is because customer's expectations change constantly, competitors improve constantly, employees work habits change constantly and so forth. So if you keep doing business the same way, you are actually going down, as everything around you is improving.
Adam Khoo is an entrepreneur, master investor, best-selling author and a self-made millionaire by the age of 26. Over the last 15 years, he has trained over 350,000 professionals, executives and business owners tap their personal power and achieve excellence in their various fields of endeavor. Visit his blog at http://www.Adam-Khoo.com or download your FREE bonus report "Supercharge Your Success" at http://www.SuccessWithNLP.com.
Article Source: http://EzineArticles.com/?expert=Adam_Khoo
Saturday, March 6, 2010
What is Comprehensive Financial Planning?
Financial planning is about building an objective plan for your financial future. You should follow these principles to ensure that every aspect of your financial life is covered, and therefore build a solid foundation to meet your goals.
Your goals will depend on your own personal situation and what you want for the future. For example, you might want to plan for retirement, buy a second home or send your kids to private school. The list is only limited by your imagination.
This is all based on a common sense approach. Anyone can do it, you just need to be methodical and objective.
What about financial advice?
Unfortunately, most financial advisers do not offer comprehensive financial planning. Most of them are glorified sales people. This is proved by the fact that they usually sell products rather than plans. If your financial adviser starts by talking products he is thinking about himself rather than your future!
Of course, there is a place for products, but only at the end of a comprehensive analysis of the reasons why you need that solution. What's more your financial plan might reveal that you do not need further products!
What should be in my plan?
Here are the main areas which need to be covered. There may be other areas, depending on your own circumstances.
Gathering data
You need to think of your plan as a whole because your financial decisions are inter-linked. For example, if you have an expensive mortgage this may impact on your ability to save for the future. You will need to get together data on every aspect of your financial situation.
Setting goals
Without an end in mind, it will be difficult to evaluate your progress. Therefore you should think carefully about what you want your future to look like. These goals should be measurable.
Income and outgoings
This is fundamental to building your plan. If you spend less than you earn, you have a chance to affect your financial future. If you spend more than you earn you will have limited options and could spiral into debt. Understanding tax is a big part of this.
Assets and liabilities
You need to build up assets to underpin your financial future. And more importantly you need to build up the right kinds of assets. The sooner you can be debt free (unless it is the 'right debt'), the sooner you can be in control. For planning purposes we ignore certain types of assets.
Emergency funding
Making sure you can cope with short-term crises is vital. We recommend that you set aside 3-6 months worth of outgoings.
Protecting what you have got
You should think about what happens if things go wrong. This includes all types of insurance to ensure your lifestyle is defended from catastrophes. You should also consider making wills and powers of attorney etc.
Paying off debt
Generally, any debt is a barrier to your future prosperity. The sooner you become debt free, the sooner you have control over your future. Remember that your bank manager includes your mortgage as one of his assets!
Saving for the future and investing wisely
You need to work out how much will be needed to fund your future goals, how much risk this requires, and the effect of external forces such as inflation, charges and future legislation.
Tax
While this should not drive your plan, it is certainly an important part of the equation. Understanding how tax affects your life should run throughout your plan.
Monitoring your progress
Financial planning should be much like servicing your car. You would not spend £20,000 on a new car and then never take it to the garage for a service. Likewise, you should regularly review your plan to ensure your remain on target to meet your goals.
Of course, your circumstances will also change over time, so your ultimate goals may also need a tweak from time to time.
Conclusion As you can see, a proper financial plan should be extremely detailed, and will take some work. However, the rewards will really benefit you as you will be back in control of your life.
Want some help?
We work closely with our clients to develop and maintain their financial plans. If you would like some help in preparing your plan, please contact us.
Dan Woodruff is a Certified Financial Planner and Independent Financial Adviser based in Colchester, Essex, UK. He regularly writes articles on financial planning and investments aimed at UK business owners and investors. Go to http://www.woodruff-fp.co.uk to find more content, or sign up for his free newsletter or financial planning blog.
Woodruff Financial Planning is authorised and regulated by the Financial Services Authority.
Article Source: http://EzineArticles.com/?expert=Dan_Woodruff
Your goals will depend on your own personal situation and what you want for the future. For example, you might want to plan for retirement, buy a second home or send your kids to private school. The list is only limited by your imagination.
This is all based on a common sense approach. Anyone can do it, you just need to be methodical and objective.
What about financial advice?
Unfortunately, most financial advisers do not offer comprehensive financial planning. Most of them are glorified sales people. This is proved by the fact that they usually sell products rather than plans. If your financial adviser starts by talking products he is thinking about himself rather than your future!
Of course, there is a place for products, but only at the end of a comprehensive analysis of the reasons why you need that solution. What's more your financial plan might reveal that you do not need further products!
What should be in my plan?
Here are the main areas which need to be covered. There may be other areas, depending on your own circumstances.
Gathering data
You need to think of your plan as a whole because your financial decisions are inter-linked. For example, if you have an expensive mortgage this may impact on your ability to save for the future. You will need to get together data on every aspect of your financial situation.
Setting goals
Without an end in mind, it will be difficult to evaluate your progress. Therefore you should think carefully about what you want your future to look like. These goals should be measurable.
Income and outgoings
This is fundamental to building your plan. If you spend less than you earn, you have a chance to affect your financial future. If you spend more than you earn you will have limited options and could spiral into debt. Understanding tax is a big part of this.
Assets and liabilities
You need to build up assets to underpin your financial future. And more importantly you need to build up the right kinds of assets. The sooner you can be debt free (unless it is the 'right debt'), the sooner you can be in control. For planning purposes we ignore certain types of assets.
Emergency funding
Making sure you can cope with short-term crises is vital. We recommend that you set aside 3-6 months worth of outgoings.
Protecting what you have got
You should think about what happens if things go wrong. This includes all types of insurance to ensure your lifestyle is defended from catastrophes. You should also consider making wills and powers of attorney etc.
Paying off debt
Generally, any debt is a barrier to your future prosperity. The sooner you become debt free, the sooner you have control over your future. Remember that your bank manager includes your mortgage as one of his assets!
Saving for the future and investing wisely
You need to work out how much will be needed to fund your future goals, how much risk this requires, and the effect of external forces such as inflation, charges and future legislation.
Tax
While this should not drive your plan, it is certainly an important part of the equation. Understanding how tax affects your life should run throughout your plan.
Monitoring your progress
Financial planning should be much like servicing your car. You would not spend £20,000 on a new car and then never take it to the garage for a service. Likewise, you should regularly review your plan to ensure your remain on target to meet your goals.
Of course, your circumstances will also change over time, so your ultimate goals may also need a tweak from time to time.
Conclusion As you can see, a proper financial plan should be extremely detailed, and will take some work. However, the rewards will really benefit you as you will be back in control of your life.
Want some help?
We work closely with our clients to develop and maintain their financial plans. If you would like some help in preparing your plan, please contact us.
Dan Woodruff is a Certified Financial Planner and Independent Financial Adviser based in Colchester, Essex, UK. He regularly writes articles on financial planning and investments aimed at UK business owners and investors. Go to http://www.woodruff-fp.co.uk to find more content, or sign up for his free newsletter or financial planning blog.
Woodruff Financial Planning is authorised and regulated by the Financial Services Authority.
Article Source: http://EzineArticles.com/?expert=Dan_Woodruff
My Business is My Pension
When we first talk to business owners about financial planning they usually reply: 'My business is my pension.' Equally this applies to many employees - 'My house is my pension...' This is a poor place to start with your financial planning, and may leave you far short of your ultimate goals.
Why your business is not your pension!
OK, your business might prove to be your pension, but it might not. By saying that it will provide you with a future income you are leaving your retirement plans in the lap of the Gods.
By saying that your business will provide you with an income, what you are really saying is that you will sell up in the future, and someone will come in and give you enough money to retire on.
Will you be able to sell your business?
Any asset is only worth as much as what someone else is prepared to pay for it. You might not actually have a business that someone wants to pay for.
We meet many business owners who are actually just self-employed consultants. They have swapped the employee life for self-employment, but the business would not run without them. With this in mind, without them there is probably no business, so who would pay for that?
The best kind of business runs without the owner
If you haven't already, get hold of a copy of Rich Dad, Poor Dad by Robert Kiyosaki. His analysis of this area is very useful (his cashflow quadrant).
Financial planning is about getting to financial independence - i.e. being able to survive without the income from the business. If you run your finances well, you can eventually become an investor. This means you rely on your money to do the work, not you. If you do this well enough, you can choose not to work, and live off your independent income.
How much do you actually need?
You should first work out what you need to be able to fund your future lifestyle, and work backwards from there. If you know how much you need you can build a plan to achieve that worth for your business, and more importantly build the business in such a way that someone else will be prepared to buy it.
You could work closely with other business advisers such as an accountant or business coach to plan for your exit strategy.
Think of your business as a cash generation tool
You should be able to earn income from your business, either as salary or dividends. Hopefully you can also sell it at a later date for a lump sum. These streams of cash should be used towards your ultimate aim of independence.
Don't forget tax!
Why your house is not your pension!
You may be able to use your house to supplement your future income. However, in my experience this is rarely desirable for most people.
Downsizing?
You could choose to downsize, but who wants to work hard all their life to get the house of their dreams, to then sell up to someone else so you can live more easily?
Equity release?
You could choose to release equity from your home through a complex mortgage product. However, for most people this is expensive, complicated and risky.
Surely it would be better to have some financial discipline now and prepare for the future with your eyes wide open?
Want some help?
We work closely with our clients to develop and maintain their financial plans. If you would like some help in preparing your plan, please contact us.
When you sell your business you will need to pay capital gains tax at 10% or greater.
Dan Woodruff is a Certified Financial Planner based in Colchester, Essex, UK. He regularly writes articles on financial planning and investments aimed at UK business owners and investors. Go to http://www.woodruff-fp.co.uk to find more content, or sign up for his free newsletter or financial planning blog.
Woodruff Financial Planning is authorised and regulated by the Financial Services Authority.
Article Source: http://EzineArticles.com/?expert=Dan_Woodruff
Why your business is not your pension!
OK, your business might prove to be your pension, but it might not. By saying that it will provide you with a future income you are leaving your retirement plans in the lap of the Gods.
By saying that your business will provide you with an income, what you are really saying is that you will sell up in the future, and someone will come in and give you enough money to retire on.
Will you be able to sell your business?
Any asset is only worth as much as what someone else is prepared to pay for it. You might not actually have a business that someone wants to pay for.
We meet many business owners who are actually just self-employed consultants. They have swapped the employee life for self-employment, but the business would not run without them. With this in mind, without them there is probably no business, so who would pay for that?
The best kind of business runs without the owner
If you haven't already, get hold of a copy of Rich Dad, Poor Dad by Robert Kiyosaki. His analysis of this area is very useful (his cashflow quadrant).
Financial planning is about getting to financial independence - i.e. being able to survive without the income from the business. If you run your finances well, you can eventually become an investor. This means you rely on your money to do the work, not you. If you do this well enough, you can choose not to work, and live off your independent income.
How much do you actually need?
You should first work out what you need to be able to fund your future lifestyle, and work backwards from there. If you know how much you need you can build a plan to achieve that worth for your business, and more importantly build the business in such a way that someone else will be prepared to buy it.
You could work closely with other business advisers such as an accountant or business coach to plan for your exit strategy.
Think of your business as a cash generation tool
You should be able to earn income from your business, either as salary or dividends. Hopefully you can also sell it at a later date for a lump sum. These streams of cash should be used towards your ultimate aim of independence.
Don't forget tax!
Why your house is not your pension!
You may be able to use your house to supplement your future income. However, in my experience this is rarely desirable for most people.
Downsizing?
You could choose to downsize, but who wants to work hard all their life to get the house of their dreams, to then sell up to someone else so you can live more easily?
Equity release?
You could choose to release equity from your home through a complex mortgage product. However, for most people this is expensive, complicated and risky.
Surely it would be better to have some financial discipline now and prepare for the future with your eyes wide open?
Want some help?
We work closely with our clients to develop and maintain their financial plans. If you would like some help in preparing your plan, please contact us.
When you sell your business you will need to pay capital gains tax at 10% or greater.
Dan Woodruff is a Certified Financial Planner based in Colchester, Essex, UK. He regularly writes articles on financial planning and investments aimed at UK business owners and investors. Go to http://www.woodruff-fp.co.uk to find more content, or sign up for his free newsletter or financial planning blog.
Woodruff Financial Planning is authorised and regulated by the Financial Services Authority.
Article Source: http://EzineArticles.com/?expert=Dan_Woodruff
Saturday, February 20, 2010
Passive Income Idea
Here is an excellent ETF:
I bought AOD in late 2008. Look at the charts for yourself and see how well they have done.
You might say the yield is too high and can't be maintained.
BUT, AOD doesn't buy shares that pay 20% dividends or higher, they just invest, recieve the dividend, then buy a new share. They keep rotating the investment and collecting dividends.
If you are looking at dividend paying ETF's for passive income, don't overlook AOD.
Be sure to see www.financialindependenceuniversity.com
I bought AOD in late 2008. Look at the charts for yourself and see how well they have done.
You might say the yield is too high and can't be maintained.
BUT, AOD doesn't buy shares that pay 20% dividends or higher, they just invest, recieve the dividend, then buy a new share. They keep rotating the investment and collecting dividends.
If you are looking at dividend paying ETF's for passive income, don't overlook AOD.
Be sure to see www.financialindependenceuniversity.com
Friday, February 19, 2010
10 Vital Keys to Life Success
Success may seem elusive at times.
We may strive to achieve goals, read inspirational books and really work hard to make the quality shift we may desire in our lives. When that doesn't work we blame it on luck.
However, success has nothing to do with luck.
Success is a question of learning the key laws that govern the outcomes of your effort and taking action to move your Dream forward. My personal experience has been a rich journey that led me to identify what I consider as the Ten Vital Keys to Life Success. Nowadays, in my work as a Life Coach I base my facilitation on these keys which have proved to be the most effective way to cope with Life's challenges and achieve Life Success.
Here's a very brief overview of the 10 Keys that can take you to the next level in life:
1) Challenge your Self-limitations : The biggest culprit in destroying Dreams is our own self-sabotaging thoughts. We need to work on these before even considering further progress. There are a lot of ways to do this including by working on what I call your 'Golum' thoughts and creating empowering Beliefs. Golum is the personification of the protective thoughts that run in our heads at times and which limit our life by putting excessive fear in risking and in trying out new things. Our Golum might tell us things like: 'You've failed before, what's to stop you from failing again' or 'Don't go out of your comfort zone or you will get pain'. Challenging these thoughts and creating new empowering beliefs is a crucial step to trigger off your journey towards life success.
2) Charge your Body and Language: The way we move our body and the language we use have a powerful effect on our feelings and emotions. Working on particular body movements and specific words we use can create a shift in our emotional status and motivational levels. By energizing our body movements and using transformational words we can shift our mental states to more empowering ones.
3) Clarify your Principles and Values: We all need a compass to direct our journey. We also need to be aware of who we really are - what innate qualities dwell within us that are just waiting to be tapped and celebrated. Clarifying your Core Values through specific Values clarification exercises is a vital step towards empowering you to take clear decisions without too much hesitation. Clarifying your Values will help you to identify your personal gifts and what direction you will choose to honor in your life.
4) Connect to your Dream and Life Purpose: Clear Values will help you to delve deeper and identify your Life Purpose. Through exercises such as the LifeMaps program© you can discover the True Mission and meaning of your life as well as tap the BIG Dream you want to achieve.
5) Create it in your Mind: Once you discover your Dream and Life Purpose you need to start working on Manifesting it. The first creation is in the mind. By believing in your Dream and doing specific visualization exercises you will pave the way for success.
6) Commit Yourself Completely: Commitment is a crucial factor in ensuring success. You can't look over your shoulder once you have a passionate Dream to follow. There's no turning back when you have inspired yourself to achieve higher standards and identified what you will no longer accept in your life. There comes a time when you will need to 'burn the bridges' and march forward with a clear sense of commitment.
7) Convert your passion into Action: There is no such thing as effortless success. Don't believe anyone who tells you that you can just sit back and attract good luck and abundance simply by thinking yourself into it. In order to succeed you must take massive action - right away after you take the decision to live your Dream.
8) Continue persisting with consistency: Persistence and perseverance is what finally births success. It is the sheer will to continue on your chosen path, the focus of consistently hanging on to your Dream, watching the signs that Providence provides and immediately acting on them.
9) Consolidate and Expand: Once your Dream starts manifesting it's important to continue raising your standards, expanding your boundaries and taking time to recreate yourself. Consistently doing things that raise your standards will ensure that you develop yourself to your peak performance
10) Contribute to a Higher Cause: Achieving self mastery will prompt you to look beyond your self-fulfillment. Your new confidence and success will attract others to you and you will find yourself able to lead and communicate a shared Dream. Your ability to create a Legacy that will outlive you will be the apex of True Life Success.
Looking back over the years I just marvel at the amazing changes that these 10 Vital Keys have brought into my life. I am also marveled each time I experience the powerful and life changing effects that occur in the people I coach when they start applying these keys in their life.
So, are you ready to take the driver's seat and start living your Dream?
To receive a FREE Report that provides information on the 10 Vital Keys to Life Success and other resources visit http://www.insightzonecoach.com. or http://www.insightzonecoach.com/blog
Reggie Aquilina is the Founder of Insight Zone Academy. He is a Life Coach and works in the field of Adult Learning and Development. He is actively involved in providing e-learning resources related to Life Coaching and he is the creator of the Life Coaching Home Study Course: The 10 PowerKeys Program.
Article Source: http://EzineArticles.com/?expert=Reggie_Aquilina
We may strive to achieve goals, read inspirational books and really work hard to make the quality shift we may desire in our lives. When that doesn't work we blame it on luck.
However, success has nothing to do with luck.
Success is a question of learning the key laws that govern the outcomes of your effort and taking action to move your Dream forward. My personal experience has been a rich journey that led me to identify what I consider as the Ten Vital Keys to Life Success. Nowadays, in my work as a Life Coach I base my facilitation on these keys which have proved to be the most effective way to cope with Life's challenges and achieve Life Success.
Here's a very brief overview of the 10 Keys that can take you to the next level in life:
1) Challenge your Self-limitations : The biggest culprit in destroying Dreams is our own self-sabotaging thoughts. We need to work on these before even considering further progress. There are a lot of ways to do this including by working on what I call your 'Golum' thoughts and creating empowering Beliefs. Golum is the personification of the protective thoughts that run in our heads at times and which limit our life by putting excessive fear in risking and in trying out new things. Our Golum might tell us things like: 'You've failed before, what's to stop you from failing again' or 'Don't go out of your comfort zone or you will get pain'. Challenging these thoughts and creating new empowering beliefs is a crucial step to trigger off your journey towards life success.
2) Charge your Body and Language: The way we move our body and the language we use have a powerful effect on our feelings and emotions. Working on particular body movements and specific words we use can create a shift in our emotional status and motivational levels. By energizing our body movements and using transformational words we can shift our mental states to more empowering ones.
3) Clarify your Principles and Values: We all need a compass to direct our journey. We also need to be aware of who we really are - what innate qualities dwell within us that are just waiting to be tapped and celebrated. Clarifying your Core Values through specific Values clarification exercises is a vital step towards empowering you to take clear decisions without too much hesitation. Clarifying your Values will help you to identify your personal gifts and what direction you will choose to honor in your life.
4) Connect to your Dream and Life Purpose: Clear Values will help you to delve deeper and identify your Life Purpose. Through exercises such as the LifeMaps program© you can discover the True Mission and meaning of your life as well as tap the BIG Dream you want to achieve.
5) Create it in your Mind: Once you discover your Dream and Life Purpose you need to start working on Manifesting it. The first creation is in the mind. By believing in your Dream and doing specific visualization exercises you will pave the way for success.
6) Commit Yourself Completely: Commitment is a crucial factor in ensuring success. You can't look over your shoulder once you have a passionate Dream to follow. There's no turning back when you have inspired yourself to achieve higher standards and identified what you will no longer accept in your life. There comes a time when you will need to 'burn the bridges' and march forward with a clear sense of commitment.
7) Convert your passion into Action: There is no such thing as effortless success. Don't believe anyone who tells you that you can just sit back and attract good luck and abundance simply by thinking yourself into it. In order to succeed you must take massive action - right away after you take the decision to live your Dream.
8) Continue persisting with consistency: Persistence and perseverance is what finally births success. It is the sheer will to continue on your chosen path, the focus of consistently hanging on to your Dream, watching the signs that Providence provides and immediately acting on them.
9) Consolidate and Expand: Once your Dream starts manifesting it's important to continue raising your standards, expanding your boundaries and taking time to recreate yourself. Consistently doing things that raise your standards will ensure that you develop yourself to your peak performance
10) Contribute to a Higher Cause: Achieving self mastery will prompt you to look beyond your self-fulfillment. Your new confidence and success will attract others to you and you will find yourself able to lead and communicate a shared Dream. Your ability to create a Legacy that will outlive you will be the apex of True Life Success.
Looking back over the years I just marvel at the amazing changes that these 10 Vital Keys have brought into my life. I am also marveled each time I experience the powerful and life changing effects that occur in the people I coach when they start applying these keys in their life.
So, are you ready to take the driver's seat and start living your Dream?
To receive a FREE Report that provides information on the 10 Vital Keys to Life Success and other resources visit http://www.insightzonecoach.com. or http://www.insightzonecoach.com/blog
Reggie Aquilina is the Founder of Insight Zone Academy. He is a Life Coach and works in the field of Adult Learning and Development. He is actively involved in providing e-learning resources related to Life Coaching and he is the creator of the Life Coaching Home Study Course: The 10 PowerKeys Program.
Article Source: http://EzineArticles.com/?expert=Reggie_Aquilina
Tuesday, February 9, 2010
Become a Millionaire by 30
You can become a millionaire by age 30.
Take a look at www.renegadeuniversity.net to see how.
The thing is to get started.
Don't let losers get you off course.
Take a look at my site and see what I learned while quitting the school of hard knocks. Read some of the books I read. Learn about traffic building and the basics of investing.
Take a look at www.renegadeuniversity.net to see how.
The thing is to get started.
Don't let losers get you off course.
Take a look at my site and see what I learned while quitting the school of hard knocks. Read some of the books I read. Learn about traffic building and the basics of investing.
Seven Secrets of Wealth Creation
1) Add value. What this means is to work harder, smarter and work longer hours. You need to make your product or service more valuable.
2) Buy things that make money (mutual funds, stocks, bonds, investment properties, small businesses, etc). You should invest at least 10% of your income. Remember you probably want to buy investments after the masses have sold. Then, sell when a bubble develops. Also, you can buy the shares of excellent companies during a recession or when temporary trouble emerges for a particular company. If you think the new CEO of a company can turn a floundering company around, you may want to buy some shares. Due diligence is a necessity.
3) Activate the laws of attraction and belief. Think about what you want. Never think about what you don't want. Your mind is like a magnet. Your mind attracts what it focuses on. Believe and act as if you are a success in the making.
4) Find a career in a field you love. Go to college if necessary, but get yourself a job that you enjoy. You will acquire more than money if you do. Brian Tracy always says once you find a job you really love, you'll never work another day in your life.
5) Turn your car into a university on wheels. Remember, one idea from a book or audio book or radio program can make you a millionaire. You can find affordable audio programs and you can also rent audio programs. There are also a few good financial programs on terrestrial radio too. Learn to do something like manage a company or become a better salesman.
6) Find a good mentor, advisors, and form a mastermind alliance. A good mentor is like a map and compass in uncharted territory. Unless you are an expert at everything, you need competent advisors, like a CPA, a lawyer and a financial planner. A good mastermind will cover your blind spots, and keep you focused and motivated.
7) Set your major goal and a specific written plan for achieving your goal. Don't change your
major goal, its harder to hit a moving target. Make sure your major goal is realistic. Take action every day on your major goal and be persistent!
You can find some excellent books, audio books and free information at http://www.financialindependenceuniversity.com David K. Drews is the web master of http://www.financialindependenceuniversity.com and is a graduate of the school of hard knocks. Ignore his teachings at your peril.
Article Source: http://EzineArticles.com/?expert=David_Drews
2) Buy things that make money (mutual funds, stocks, bonds, investment properties, small businesses, etc). You should invest at least 10% of your income. Remember you probably want to buy investments after the masses have sold. Then, sell when a bubble develops. Also, you can buy the shares of excellent companies during a recession or when temporary trouble emerges for a particular company. If you think the new CEO of a company can turn a floundering company around, you may want to buy some shares. Due diligence is a necessity.
3) Activate the laws of attraction and belief. Think about what you want. Never think about what you don't want. Your mind is like a magnet. Your mind attracts what it focuses on. Believe and act as if you are a success in the making.
4) Find a career in a field you love. Go to college if necessary, but get yourself a job that you enjoy. You will acquire more than money if you do. Brian Tracy always says once you find a job you really love, you'll never work another day in your life.
5) Turn your car into a university on wheels. Remember, one idea from a book or audio book or radio program can make you a millionaire. You can find affordable audio programs and you can also rent audio programs. There are also a few good financial programs on terrestrial radio too. Learn to do something like manage a company or become a better salesman.
6) Find a good mentor, advisors, and form a mastermind alliance. A good mentor is like a map and compass in uncharted territory. Unless you are an expert at everything, you need competent advisors, like a CPA, a lawyer and a financial planner. A good mastermind will cover your blind spots, and keep you focused and motivated.
7) Set your major goal and a specific written plan for achieving your goal. Don't change your
major goal, its harder to hit a moving target. Make sure your major goal is realistic. Take action every day on your major goal and be persistent!
You can find some excellent books, audio books and free information at http://www.financialindependenceuniversity.com David K. Drews is the web master of http://www.financialindependenceuniversity.com and is a graduate of the school of hard knocks. Ignore his teachings at your peril.
Article Source: http://EzineArticles.com/?expert=David_Drews
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