Category Archives: Wealth

5 Traits Millionaires Who Started From The Bottom Have

To become a self-made millionaire, a lot of self improvement and sacrifice has to take place. You have to be willing to go the extra mile that others aren’t willing to do. Take a peak at these qualities below, that millionaires who started from the bottom like many of us have:

Be fearless.

People will tell you what you can’t do, where you can’t go, and who you can’t be. Forget these people. When I was in college, I failed a class because of my writing ability. Because of this, I dropped out and wrote my book in 10 days. I sold thousands of them and destroyed numerous obstacles along the way. Be fearless and erase all limitations.

Be forceful.

People don’t know what they want until you give it to them. Sometimes you have to be forceful with your offerings. Move people to action by creating demand for their needs. Henry Ford was known for saying, “If I asked the people what they wanted, they would have said ‘Faster Horses’” If you keep supplying and proving the need, people will buy what you’re selling.

Be unpredictable.

Most people act so routinely that you can predict their every move. To be more strategic, you must meander your way into different thought patterns, languages, and activities. By consciously creating opportunities for yourself and doing the unthinkable, you’ll be able to exceed your own expectations. Eventually, predictable people will ask you how you did it and you’ll have to give them your unpredictable answers.

Be unduplicatable.

No one can copy you if you create a signature style for yourself. Whether you’re wearing bushy bowties or carrying Birkin bags, you need your style to work in your favor. Always say to yourself, “There is no one doing what I’m doing in the way that I’m doing it.” Eventually, your uniqueness will attract the kind of reputation that you’ve been looking for. All millionaires are completely unduplicatable.

Be controversial.

To become a millionaire, you have to push the limits. You’ve got to ask for things that no one has dared to ask for. Controversy means that you are willing to walk and talk about the subjects that people avoid. Sometimes, you’ll be unpopular for being controversial, but do it anyways. Always push your agenda and help people understand what you’re trying accomplish. If they understand and want to help, bring them on your team.

5 Must Haves For A Successful Business

Starting a business can be a daunting and complicated adventure with a lot of unknowns. Especially if this is your first go-around with starting your own company, it is always nice to to be able to bank on the facts  you know will certainly help you succeed. Take a look at the list below to make sure your new beginning has what it takes to succeed:

1. Genuine need

True business opportunities meet needs or solve pain points people have in their lives. The best way to discover these needs and pain points is by being intimately involved in a particular field or industry. Most successful entrepreneurs have worked in the industry they start their business in, in a related industry, or are very familiar with the products, services, and problems through personal experience. They discover a need and verify it through firsthand observation. You generally don’t discover pressing needs by joining a think tank, learning how to brainstorm, or sitting in a university class.

2. Credible experience

Knowing the products, services, and problems in an industry not only helps you avoid the pitfalls of trial-and-error learning, but it also gives interested parties the confidence that you’re the right person to build this business. Your experience and credibility are very important to potential team members, investors, customers, suppliers, and strategic partners. If you don’t have the skills and experience to build your business, you’ll be fighting an uphill battle. When this is the case, it’s best to find advisors, partners, and team members who can fill in the gaps in your skill set. In the end, you and your team will need to have the experience and credibility necessary to build your business.

3. Adequate Resources

Many would-be entrepreneurs think they need money to start their new venture — no money, no business. Actually, successful entrepreneurs use a host of other resources to get started; they work from home, find mentors and advisors, use free software, acquire used equipment, barter and trade, partner with their first customers, obtain credit from suppliers, and borrow before they rent or buy. The important thing is to determine what your new venture requires, then go out and find the resources you need to get started. You don’t necessarily need funding, but you do need resources.

4. Buying Customers

Smart entrepreneurs have customers committed to buying their products or services as soon as they launch their ventures. For instance, Dave Twombly had customers waiting for him to launch his garbage company. Patrick Hayden already had customers buying his firearms and accessories. And Joanne McCall sold her first contract to her employer prior to launching her marketing agency. When you have specific customers who are willing to buy your product as soon as you launch your venture, you have the ultimate validation of your solution, immediate sales, and early cash flow from which to grow. Selling your products or services prior to your launch is always a great strategy. If you can’t do it, you may not be ready to go.

5. Sound Business Model

Your business model is the way you’ll make money in your venture. It includes your sources of revenue, pricing, costs of goods sold, gross margin, operating costs, and profit margin — essentially the elements of an income statement.

The best businesses have multiple sources of revenue, competitive pricing, a 50 percent or better gross margin, and a 10 to 20 percent profit margin. If your numbers aren’t this attractive, it will be difficult to survive. So make sure all the numbers work before launching your venture.


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4 Exercises That Will Boost Success & Your Sense Of Self

The more aware of yourself you are, the more in control you are when it comes to dealing with external circumstances, which in turn affect your success and path in life. Take note of these 4 exercises that will help you gain better control of yourself and give you a better sense of your emotions for better decision making habits:

1. The three why’s.

Before acting on a decision, ask yourself “Why?” Follow up your response with another “Why?” And then a third. If you can find three good reasons to pursue something, you’ll have clarity and be more confident in your actions.

Being self-aware means knowing your motives and determining whether they’re reasonable.

2. Expand your emotional vocabulary.

The philosopher Wittgenstein said, “The limits of my language means the limits of my world.”

Emotions create powerful physical and behavioral responses that are more complex than “happy” or “sad.” Putting your feelings into words has a therapeutic effect on your brain; if you’re unable to articulate how you feel, that can create stress. Here’s a great list of “feeling words” to help with labeling your emotions. Increase your emotional vocabulary with one new word each day.

3. Practice saying ‘no’ to yourself.

The ability to say “no” to yourself to put off short-term gratification for the long-term gain is an important life-skill. Like a muscle, it is strengthened with exercise. The more you practice saying “no” to small daily challenges, the better you can withstand major temptations.

There are plenty of daily temptations — social media, junk food, gossiping, Youtube. Make a goal of saying “no” to five different temptations each day.

4. Break visceral reactions.

A person without self-awareness runs on auto-pilot, and responds with knee-jerk reactions. Self-awareness allows you to assess situations objectively and rationally, without acting on biases and stereotypes.

Take a deep breath before you act, especially when a situation triggers anger or frustration. This gives you time to re-assess whether your response will be the best one.


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How To Overcome Procrastination

It’s a looming thing that lingers around even the best of our agendas… Procrastination. Whether your the ‘wait till the last minute because then it’ll only take a minute’ kind of person or you just get tempted by the thought of putting something off, these tips from successful people below will help you overcome procrastination once and for all:

1. They keep themselves accountable.

Show yourself commitment to getting things done. Making a commitment to yourself helps keep you accountable. You can do this by writing your goals down, keeping a to-do list with you, and creating reminders in your phone and on your calendar.

There are other more creative things you can do to keep yourself accountable: Change the wallpaper on your phone or computer to something that says “get work done”. Write your tasks and goals on a whiteboard or large sticky you keep on your monitor. Set the new tab screen of your browser to something that reminds you of the day’s priorities using Momentum or Limitless.

2. They make themselves accountable to others.

If you can’t stay accountable to yourself, you might have more success staying accountable to other people.

Tell everyone what you plan to do and talk about your goals. Tell friends, employees and employers your intentions and you won’t want to let them down. For example, if you want to go to the gym every day, ask a friend to text you every evening asking “did you go to the gym today?”

Another suggestion is to start documenting and sharing your journey. A blog or vlog where you share the projects you’re working on and your progress will encourage you to get things done. Allowing yourself to be under public scrutiny can help light a fire under you.

3. They tie themselves to the mast.

In Homer’s Odyssey, Odysseus has his ship’s crew tie him to the mast so that he could hear the Sirens’ song without being drawn in and tempted to jump into the sea. If you’re a chronic procrastinator and simply can’t resist the temptations of things like Facebook and Youtube, it might be time to tie yourself to the mast.

There are tools such as Rescue Time, SelfControl and Focus that will temporarily block access to distracting websites like Facebook so you can work on the things that matter. It’s an extreme measure but also very effective.

There are less aggressive tools such as Facebook Newsfeed Eradicator andDistraction Free Youtube. These will allow you to have access to Facebook and Youtube but block the distracting parts of these websites (such as the newsfeed) so you can still use them for business purposes, like managing ads.


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Is The Future Here With This Jetson Style Car?

For as long as time has stood, people have wondered what the future would hold for technology, hence the term, “futuristic” as an adjective… Flying cars, hover boards, electric cars, etc.- Many of which, have come true or are on their way to becoming true. This video below shows what Nissan believes to be the future of city driving; small, efficient, earth friendly and lacking windows…..

3 Ways You Can Gain Startup Capital

There are many exciting and new adventures that come along with starting a business, but  one aspect that may not be as exciting or may even be taunting, is finding ways to fund your company. Below are three ways to jumpstart your thinking on how you can fund your business:

1) Angel and seed investors.

Sometimes you find these people via the Internet, your personal network, or maybe you cornered Chris Sacca at his favorite coffee shop to pitch your idea. Regardless, your angel or seed investor is your go-to advisor whom you may compensate with equity in the company. Their network is always as rich as their net-worth, so take advantage of it. Angel investors can be found at websites such as Angel.co.

2) Crowdfunding websites.

Kickstarter, Indigogo, Gofundme, etc. We’ve all heard of these. Crowdfunding is a centralized way for startups to reach out to a large audience in their niche to make their prototypes or ideas a reality. In return, you not only create a community around your product, but you acquire your first users to test, utilize, and help innovate what you are working toward.

3) Private Lenders.

Music to an entrepreneur’s ears. Through private lenders, founders can gain access to funds without any involvement from the government. It is the most convenient way for most businesses to begin operations. One of the key players in this space is My Business Funded. They have a remarkable reputation for funding startups quickly and efficiently, even they’ve only been operational for 6 months. In turn, a ministration like this allows founders to worry less about operational costs, and focus on selling. Remember, as Shark Tank has shown, a startup doesn’t have to be a tech company; it’s any company on its way up! MyBusinessFunded is one of the quickest growing business funding websites today.

 


 

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