Tag Archives: start internet business

Top Strategies On How To Build Wealth

Ask anyone and they will tell you that they will be happy if they had more money to spend. The reason why many never succeed in this is that they simply do not have the capacity to build wealth. Most are usually lazy and are not willing to put in the effort while some simply do not know how to do this. Any person who has amassed wealth over time will tell you they planned well and stuck to their plan through thick and thin.

Starts saving when you are still young.

If you start to save early, you will have saved enough compared to a person saving the same amount but at an advanced age. For example if two people decide to start saving a hundred dollars every month. One starts saving when he is twenty five years and the other starts to save when he is thirty two. From common sense, if they both retire at sixty, the one who started saving while he was younger will have more.

Educate your mind.

Knowing the ins and outs of a venture is a must have in any investment. For example, if you are planning to start a business in real estate you must know what real estate is all about. This is where education will come in handy. Read books, attend seminar, ask questions and listen to tapes. This will give you a platform to start from and you will be better placed when making business decisions once you start the business.

Invest on stable companies.

If you are investing in stocks, always go for companies that have a good history. Such companies are usually safer and lower the risk of losing your money. A company that is new and has not shown any past evidence that it can do well should be your last option if you are investing on a long term basis. According to research, most companies fail within their first year of business, if you are placing your bets on such a company then the odds are not good.

In your youth years, try to establish a steady income.

Try as much as possible to get a stable source of income and do this early in life. This can be in the form of some job or a business. This is important in that even with the best of advice; you can only save money if you have the money in the first place. If you do not have some stable income, saving become only but a dream. Do your best to train yourself effectively on the field you intend to pursue.

Generally, wealth creation will arise with the ability to use less than you earn. If what you spend is say twice what you earn, you are living beyond your means and will soon be in a financial quagmire. But if what you earn is twice what you spend, you have some extras which you can use to buy wealth generating assets.

Be faithful in saving.

You will rip not results if you do not stick to your saving plan. This is the hardest part of it all, at times; you might be pressed financially and feels you need to stop. You may also start suffering from complexities that you have amassed enough to live on and you need not save anymore. Draw plans and stick to them, persistence is key if you are to build wealth.

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Business Start-Up Advice: Focus On Your Information Product

Maybe you are reading this article in a cubicle somewhere. Or maybe you are surfing the internet on the weekend because you have an idea for a business, and all you need to know is what to do to first! Allow me to give you some business start up advice. Begin by nailing down what you will market as your information product.

So what is an information product? It is anything you can create using the knowledge in your head. It can even be any experience that others can benefit from.

Business Start-up Advice #1 – Utilize Lots of Mediums

Your knowledge can be packaged in lots of different ways. You can start with a video recording of your material then make a DVD and a CD. You could take the transcript and turn it into an ebook or even a multi-media product. There are a number of possibilities.

Business Start-up Advice #2 – Develop Your Own Name

The key to starting your own business is to have one product that is exclusively your own. Otherwise, you are building someone else’s name and not your own. I am not refering to network marketing. I think that is great. If you are selling Mary Kay or Amway or whatever, then go for it. But in order to really start up your own business, you will absolutely need your own product.

You want more control over your business. You do not want to work for 5% or 2% or whatever somebody decides to pay you. You do not want somebody telling you that you cannot put up a website, or you can only have this kind of wording when you are starting up your own business. You want total control. And you want to keep the lion’s share of the products. Come on! In an information product, you can keep 90-95%. Whatever your hard costs are, they are very small. You get to keep the lion’s share of the profits.

Consider that all of the well-known information marketers have their own products. Guys like Dan Kennedy, Alex Mendoza, Ray Edwards, and Armon Moore have a product to promote to build their own brand.

Business Start up Advice #3 – Stop Trading Time for Money

And you get out of the trading time for money trap. A lot of you are in that trap right now, whether you are working a 9 to 5 job, or even if you are doing consulting. You are still trading time for money. When you can create something one time and sell it over and over and over, you get out of that trading time for money trap.

Business Start up Advice #4 – Establish Your Authority

Imagine being able to give people information, an e-book that you have written, or CDs that you have made. Anything that sets you head and shoulders above the next guy. That is massive credibility for your offline business.

Think of how many leads you can generate for your business by giving them something concrete. An information product makes your business memorable and can also build your list.

Take the plunge and begin committing to paper the ideas you have in your head. Create information products from those ideas, and build your business. Then in a short while, you may be giving someone else business start up advice.

Stephen Beck can teach you online business set up steps and how to make your first $1000 on the internet. Go get a FREE link to his webinar replay, where Stephen shows you exactly what you should do: http://www.youronlinebasics.com/go.html.