Thursday, June 22, 2006
Here are some of the items we will cover in the next few posts:
- The # 1 Investment
- The # 1 Home-Based Business
- Real Estate
- Party Type Businesses
- Foreign Currency Trading
- Network Marketing
- And Much More
Wednesday, June 21, 2006
Many people especially Network Marketers ridicule regular employment. They say that the J.O.B stands for Just Over Broke. And they are right! You really do need to do something else on the side.
But hang on to that Job of yours while you are building your business or your investment portfolio. That JOB of yours is great for a getting a loan or a mortgage or to qualify for joint ventures.
Even while you have other streams of Cash Flow coming in make sure you have at least 6 months and maybe even two years worth of income saved up in some safe place that you can fall back on. Then you can quit your job.
Even the world’s wealthiest man, Bill Gates follows this philosophy. Microsoft sits on a huge amount of cash, 2 years worth of salaries etc.
Tuesday, June 20, 2006
Whether you are running a Home Party business selling Chocolates or Lingerie or Candles you have to do some work.
Or if you have a Network Marketing Business you have to do some work.I am often amazed when I hear people bitching about not making money in their home-based business when they are only putting in an hour or two per week. They work 40 or more hours a week in their job for someone else yet they can’t put in 10 or 15 hours into a business for themselves? That kind of thinking needs a check up from the neck up.
As I said in my last post ‘working for your money’ is fast becoming a lost attribute.
Imagine someone sitting in front of a fireplace and saying :Come on Fireplace give me heat and then I will put some wood in.” Doesn’t that sound ridiculous? Well isn’t that what we do when we ask for results without putting in the work?
Whether you are investing or building a business some work is required.
With investing the more knowledge you have (see: Investing Is Not Risky) the better chance you have of making some money. When you leave it to somebody else do you think they will take care of ‘Your’ money better than you? So go do some work and learn before you invest.
If you are building a business then put in some work just like you do at your job where you are working for someone else. And read my next post!
Be honest with yourself! Are you constantly trying to become rich the easy way?
You see there are only 3 ways of making money.
1- You can make money with money. Either your money or someone else’s money.
2- You can work for your money, which is not a bad thing even though ‘work’ is a bit overrated these days. Don’t be afraid to work a little.
3- Fraud and illegal ways, which will soon find you losing all your money or in jail or with a bad reputation or all 3. It is better to lose money than reputation!
Monday, June 19, 2006
Robert Kiyosaki the author of the Rich Dad, Poor Dad series of books says that Investing is not risky. A lack of knowledge about investing is what is risky.
So if you want to Earn then make sure you Learn. Then once you Learn make sure you take Action. I often say that the L in Learn stands for Living what you Learned. Then only can you know if you truly learned. And when you start living what you learned that is when your earning increases.
To make more you must become more.
Check out some of the links on this Blog and start your journey or continue your quest if you have already started.
If your business is not creating cash then you need to think about where you are spending your efforts.
Don’t be afraid to take chances. But take calculated chances!
Here are my rules for finding and taking advantage of Cash Flow generating opportunities:
1- Find people who are truly making income. Don’t believe all the hype, especially on the Internet.
2- Make sure the company actually has products they are selling. Can you see the products? Can you buy the products and can others buy the products?
3- How soon can you start making money? If your money is at risk how long is it at risk for?
4- Beware of anything that does not require money to get started. Nothing in life is free! You will always pay a price one way or another.
5- Set aside some money to try different things.
6- Then never, ever invest ALL your money in any one project. Just look at farmers. They don’t plant ALL their seed just in case the hail comes and ruins their crop.
7- Once you invest in something don’t sweat it and lose sleep over it. I know that this might be hard rule to follow, especially if you have been burned a few times like I have. For you not to sweat it invest small enough so that even if you lose it won’t hurt as much.
8- Once you find something that works – work it hard! Don’t get side tracked! Most people never stay with anything long enough to turn a profit.
9- Stay away from Off Shore investments especially HYIP’s. My rule here is “If it is Off Shore – It is Off Limits” when it comes to my money.
10- Fraudsters know that “A fool and his money are soon parted” so don’t be a fool. Follow these rules and lessen your chance of doing something foolish. Then again every master was once a fool so don’t be afraid to make a few mistakes. If you are making too many mistakes come visit blogs like this and learn.