Tag Archives: Wealth

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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8 Ideas For Your Next Business

So you have this goal on wanting to start a business, you just don’t know what exactly it is you want to specialize in… You know you have the characteristics of an entrepreneur, the drive it takes to build a company and the support you need, just need a little help on figuring out the type of business to run; Take a look at these 8 business ideas to help get your creative juices flowing;

EVENT PLANNING
Has expansion possibilities

One of the first things you need to do is visit every potential event location with which you plan to work. Work with the marketing manager to tour each site and learn what is available at each location. Start a database that will allow you to sort venues by varying features–the number of people each site holds, if there is AV equipment available on site, will you need to arrange for rental chairs, etc. Then when you are beginning to plan an event with a client, you can find out what the key parameters are for the event and easily pull up the three or four sites that meet the basic criteria. and engagement parties, etc.

FINANCIAL PLANNER
Experience, training or licensing may be needed

To start, you should go through the certification process so that you can label yourself a CFP (Certified Financial Planner). Your certificate shows that you have expertise and credibility, and this differentiation will help people choose you as their financial planner.

For more information and details on certification, click here. http://www.cfp.net/become/Steps.asp

INTERIOR DECORATOR
Experience, training or licensing may be needed

Market your talents to building contractors. People purchasing new homes can often be overwhelmed with the choices and possibilities in home decorating. Design some questionnaires for each major element and each major room in the house. Find out how the homeowner will use the home–are there children? Pets? Does the woman of the house wear high heels? Do the home’s residents neglect to remove shoes? How will each room be used? Where might task lighting and ambient lighting be most appropriate?

NOTARY PUBLIC/JUSTICE OF THE PEACE
Experience, training or licensing may be needed

In most states in the U.S., a notary public is a state officer who is authorized to witness and attest to the legalities of certain documents by signature and stamping a seal. Most states require that you pass an exam and a background check. It costs very little to become a notary and your income from notary work is negligible. A justice of the peace typically performs wedding ceremonies. States have varying rules and procedures for becoming a JP and performing services. Becoming a JP and/or notary public does not cost much money. And it is not a big moneymaking venture! Many states set the fees you can charge for JP services. JPs can add additional fees, and often do, including travel and hourly rates for additional meetings such as rehearsals, other prep time and any special requests.

PERSONAL TRAINER
Experience, training or licensing may be needed

Advertise your services in places where everyone goes, like restaurants and grocery stores. Having a website is a good idea–people want some privacy in their decision-making when it comes to getting fit. They can go to your website and determine if your approach to personal training is an approach that would work for them. It is important to emphasize the safety aspect of using a personal trainer. You can help clients get fit and avoid injury.

PROPERTY MANAGEMENT

Your job, in the case of rental units, will be to make sure the property is running smoothly. For seasonal properties, you will most likely spend your management time making sure the property is ready for seasonal visits and well-maintained when no one is around. If the owners go away for six weeks in the winter, the property manager makes regular checks on the property. You will be the contact number if the security system operator needs to contact someone about a breach in security.

CONSULTANT
Has expansion possibilities

To be a consultant, you need to have an expertise in something so you can market yourself as an advisor to others looking to work in that area. Perhaps you managed several large warehouses in your career with a drugstore company, you did all the marketing for many years for a large shoe manufacturer or you set up a chain of beauty supply shops or take-out restaurants. You can use this experience to help others do similar things without making the same mistakes that you made along the way.

ACCOUNTANT
Experience, training or licensing may be needed

Create a flier outlining your services. Before you do that, you need to know what those services will be. Do you want to simply do bookkeeping for a small business? A more involved level of accounting would be do actually work up balance sheets, income statements, and other financial reports on a monthly, quarterly, and/or annual basis, depending on the needs of the business. Other specializations can include tax accounting, a huge area of potential work. Many business owners don’t mind keeping their own day-to-day bookkeeping records but would rather get professional help with their taxes.


 

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How To Hold An Effective Meeting

I think we can all say, we have been in meetings that felt like a complete waste of our time. Either the meeting was disorganized, people were distracted by other devices, or there were no goals set for accomplishment; any of these types are ineffective. Take a look at the infographic below for the next time you conduct or organize a meeting, whether it be professional or for friend group matters:

meeting info

 

Original Source:

http://www.entrepreneur.com/article/253821

Doing These 6 Things Will Prevent You From Ever Being A Millionaire:

You’ve probably seen a million and one tips on how to become a millionaire- but what’s also important is to take a step back and analyze your current habits that could potentially be slowing you down. Take a look at the list below to see if you need to tweak a few actions of your own: 

1) Buying Things You Can’t Afford.

Living above your means is a surefire road to financial stress — and even if you start earning more or get a hefty raise, don’t use that as justification to give yourself a lifestyle raise.

“I didn’t buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income,”writes self-made millionaire Grant Cardone at Entrepreneur. “I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy.”

2) Thinking you don’t deserve to be rich.

“The average person believes being rich is a privilege awarded only to lucky people,” self-made millionaire Steve Siebold writes at Business Insider. “The truth is, in a capitalist country, you have every right to be rich if you’re willing to create massive value for others.”

Start asking yourself, “Why not me?” he encourages. Next, start thinking big. Rich people set their expectations high. Why not$1 million?

3) Relying on one stream of income

“Self-made millionaires do not rely on one singular source of income,” Thomas C. Corley, who spent five years studying rich people, writes in “Change Your Habits, Change Your Life.”

“They develop multiple streams. Three seemed to be the magic number in my study … Sixty-five percent had at least three streams of income that they created prior to making their first million dollars.”

Examples of these additional streams are real-estate rentals, stock market investments, and part-ownership in a side business.

4) Being content with what you already know.

The wealthiest, most successful people are constantly exercising their brains and looking for ways to continue learning long after college or their formal education is over.

This choice is entirely up to you, emphasizes self-made millionaire Daniel Ally at Entrepreneur: “Often, people depend on their employers to buy them books, send them to seminars, or provide them with coaching. However, you must take your education into your own hands if you want to prosper. Invest in yourself.”

5) Hanging out with the wrong crowd.

“Einstein said that consciousness is contagious,” Siebold writes. “That doesn’t mean dump your friends because of their low net worth. But if you want to become rich,you need to start associating with other rich people.”

Think of it this way: “If you wanted to become fit, you would hang around fit people at the gym. If you were interested in religion, you would associate more with people at church,” he explains. “So if you want to become wealthy, get around other wealthy people and learn from them.”

6) Spending your free time having fun, and fun only.

Rich people would rather be educated than entertained. Take Warren Buffett, for example, who estimates that 80% of his working day is dedicated to reading.

According to Corley, 67% of rich people watch TV for one hour or less per day, while just 23% of poor people keep their TV time under 60 minutes.

The rich spend that TV time reading — and they particularly like self-improvement books. “The rich are voracious readers on how to improve themselves,” Corley writes. In fact, nearly 90% of them read for self-improvement for 30 minutes each day.


 

Learn more from the original source:

http://www.businessinsider.com/ways-to-guarantee-you-wont-become-a-millionaire-2016-3

How To Start A Business Despite Your Lack Of Money

One of the biggest concerns with accomplishing a dream a lot of times, is money. But money doesn’t have to be a barrier when it comes to your dream of starting your own business, you just have to know how to work around it. Below is advice from Jayson Demers, CEO and Founder of AudienceBloom, on how to start a business despite your lack of money:

You have two main paths of starting a business with less money: lowering your costs or increasing your available capital from outside sources. You have three options here:

Option one: Reduce your needs

Your first option is to change your business model to demand fewer needs as listed above. For example, if you were planning on starting a company of personal trainers, you could reduce your “employee” expenses by being the sole employee at the start. Unless you need office space, you can work from home. You can even do your homework to find cheaper sources of supplies, or cut out entire product lines that are too expensive to produce at the outset.

There are a few expenses that you won’t be able to avoid, however. Licensing and legal fees will set you back even if you cut back on everything else. According to the SBA, many microbusinesses get started on less than $3,000, and home-based franchises can be started for as little as $1,000.

Option two: Bootstrap

Your second option invokes the idea of a “warmup” period for your business. Instead of going straight into full-fledged business mode, you’ll start with just the basics. You might launch a blog and one niche service, reducing your scope, your audience and your profit, in order to get a head-start. If you can start as a self-employed individual, you’ll avoid some of the biggest initial costs (and enjoy a simpler tax situation, too).

Once you start realizing some revenue, you can invest in yourself, and build the business you imagined piece by piece, rather than all at once.

Option three: Outsource

Your third option is all about getting funding from outside sources. I’ve covered the world of startup funding in a number of different pieces, so I won’t get into much detail, but know there are dozens of potential ways to raise capital — even if you don’t have much yourself. Here are just a few potential sources for you:

  • Friends and family. Don’t rule out the possibility of getting help from friends and family, even if you have to piece the capital together from multiple sources.

  • Angel investors. Angel investors are wealthy individuals who back business ideas early in their generation. They typically invest in exchange for partial ownership of the company, which is a sacrifice worth considering.

  • Venture capitalists. Venture capitalists are like angel investors, but are typically partnerships or organizations and tend to scout businesses that are already in existence.

  • Crowdfunding. It’s popular for a reason: with a good idea and enough work, you can attract funding for anything.

  • Government grants and loans. The Small Business Administration (and a number of state and local government agencies) exist solely to help small businesses grow. Many offer loans and grants to help you get started.

  • Bank loans. You can always open a line of credit with the bank if your credit is in good standing.


 

Learn more from the original source here:

http://www.entrepreneur.com/article/271446

7 Ways To Fast Track Your Retirement:

Just imagine yourself out on the golf course with no boss or employees to check in to… Or maybe your vision of retirement is fishing whenever/ wherever you want or taking adventurous vacations without having to worry about PTO… These tips below will help you fast track to retirement and get you to wherever you vision yourself fast:

1. LIVE TWO TO THREE TIMES BELOW YOUR MEANS

Sorry, folks: Simply skipping that $4 latte in the morning ain’t gonna cut it. It takes a much more committed approach where “sacrifices” are viewed in a new light. “It’s amazing when I work through the numbers that some people think manicures, landscapers and maids are a need,” said Michael Chadwick, a certified financial planner and CEO of Chadwick Financial Advisors in Unionville, Conn.

2. REDEFINE ‘COMFORTABLE RETIREMENT’

Less spending later constitutes the flip side of less spending now. If you imagine comfy retirement as a vacation home and monthly cruise ship trips, revisit that vision so you don’t have to bleed cash — but can still retire in style. Instead of two homes, for example, why not live in your vacation destination and pocket the principal from selling your primary residence?

3. PAY OFF ALL YOUR DEBT

That’s right, all of it. First: Is it time to pay off your home? You might not have the resources now to plunk down one huge check, but consider savvy alternatives such as switching from a 30-year to 15-year mortgage. Monthly payments aren’t much higher, but the principal payoff is much greater. Second: Do the same with loans and credit cards, as high interest eats up income faster than termites chewing a log. A credit card balance of just $15,000 with an APR of 19.99 percent will take you five years to eradicate at $400 a month — and you’ll dish out a total of $23,764.48, the calculator on timevalue.com shows.

4. CONSIDER OVERLOOKED FINANCIAL RESOURCES

While it’s risky to count on unknowns such as an inheritance, you might have cash streams available outside the traditional retirement realm, said Jennifer E. Acuff, wealth advisor with TrueWealth Management in Atlanta. For example, “Understand your options with respect to any pensions you might be entitled to from current or previous employers.”

5. INVEST EARLY AND AGGRESSIVELY

If you’re in your 20s and start investing now, you’re in luck, said Joseph Jennings Jr., investment director for PNC Wealth Management in Baltimore. “Due to the power of compounding, the first dollar saved is the most important, as it has the most growth potential over time.” As an example, Jennings compares $10,000 saved at age 25 versus 60. “The 25-year-old has 40 years of growth potential at the average retirement age of 65, whereas $10,000 saved at age 60 only has five years of growth potential.”

6. MARRIED COUPLES: PLAY RETIREMENT ACCOUNT MATCHMAKER

The wisdom of taking advantage of a company match on the 401(k) is well established — but think about how that power is accelerated if a working couple does it with two such company matches. “If your employer has a matching contribution inside of your company’s plan, make sure you always contribute at least enough to receive it,” said Kevin J. Meehan, regional president-Chicago with Wealth Enhancement Group. “You are essentially leaving money on the table if you don’t.”

7. PRACTICE SOUND CASH FLOW MANAGEMENT

The methodology is simple, yet the results can be profound: Put money at least monthly into systematic investments during your working years. “There’s no other element of investment planning or portfolio management that’s more essential over the long term,” said Jesse Mackey, chief investment officer of 4Thought Financial Group in Syosset, N.Y.


 

Original Source:

http://www.msn.com/en-us/money/retirement/15-ways-to-retire-earlier/ss-AAbLLSm#image=8

Becoming $1,000 Richer in Just 5 Tips

What may seem to be a minuscule purchase at the time, could be burning a hole in your pocket, and often times it goes overlooked. Establishing best practices can save you $1,000 in a week if executed consistently and honestly, who couldn’t use an extra $1,000 around, am I right? Rammit Smith, author of, “I Will Teach You To Be Rich” provides these important tips when it comes to saving:

1)Optimize Your Cell Phone Bill

When buying a new cell phone, Sethi likes to pay a little bit more upfront by choosing the unlimited data and text messaging plan. He then sets a three-month check-in on his calendar, and analyzes his spending patterns after a few months to see where he can cut back.

-Estimated Savings: $20- $600

2) Create a No Spending Day Once a Week

Choose one day each week and challenge yourself to not spend a single dollar.The key to this tip is putting it in your calendar so it becomes a consistent system.

Estimated Savings: $5-$75

3) Postpone a Large Purchase Until Next Month

Set a reminder on your phone to remind you about the desired purchase and most likely you will either realize you don’t need the object anymore or it may even be on sale now.

Estimated Savings: $50-$3,000

 

4) Go Cash Only

Take a limited amount of cash out of your checking account that will last for a few weeks. This habit will force you to become a conscious spender.

Estimated Savings: $50-$300

 

5) Forget The Bar Scene- Ask Your Friends To Your House

Copyright:ridofranz
Copyright:ridofranz

 

Even if this is only done once or twice a month, it is one of the most cost effective decisions according to Sethi. This factors out costs such as, gas, food, drinks, tips, taxicab, valet, etc.

Estimated Savings: $50-$200

 


 

 

Read The Rest of Sethi’s Tips at:  http://www.businessinsider.com/how-to-save-money-quickly-2015-6?op=1#ixzz3dZ6lfNV0

4 Key Tips To Becoming a Millionaire

If you have the dreams and aspirations to make it to millionaire status one day, then take a look at these 4 key pieces of advice that will have a major impact on how and how fast you reach this goal.. It’s possible and accessible with a little help a long the way from the people like, Daniel Ally, self made millionaire and Business Expert :

Save Relentlessly

This will address the queries that I’ve recently received. For many individuals, there’s too much month at the end of the money. However, you’ll have to make your best effort to save as much as you can, even if it’s a ridiculously low number.

There are many techniques for saving money. You need to find your own system and start building your wealth. Even if you’re on a fixed income, you need to find the discipline necessary to save. Whether you start out with saving $50 or $500 per month, do the best you can and invest this money in the best way possible.

Learn from Millionaires

Most people are surrounded by what I like to call “Default Friends.” These friends are acquaintances that we see at the grocery store, gym, school, work, and other places. We naturally befriend these people as trust grows. However, in most cases, these people aren’t millionaires and cannot help you become one either.

If you truly desire and aspire to be a millionaire, these people may tell you that it’s impossible. They’ll tell you that you’re living in a fantasy world and why you’ll never be able to make it happen. Instead, learn from millionaires. Let go of these relationships and seek new ones that can help you get to the next level.

Change Your Thinking

You have to see the bigger picture. When most people see just trees, you need to look at the entire forest. This way, you’ll be able to chart your own course and get to where you want to be. By having a vision and the goals to attain that vision, your possibilities are endless.

You’ll have to go through plenty of self-discovery before you earn your first million. Knowing the truth about yourself isn’t always the easiest task. Sometimes, you’ll find that you’re your biggest enemy and best friend — even in the same day! Nonetheless, changing your thinking is a requirement for wealth.

Believe It’s Possible

If you believe that it’s possible to become a millionaire, you can make it happen. However, if you’ve excluded yourself from this possibility and think that it’s for other people, you’ll never have money. Also, be sure to bless rich people when you can. Haters of money aren’t likely to receiving any of it either.

The best way to do this is to learn relentlessly about yourself and money. You can do this by reading books that have been written by millionaires themselves. By gaining a well-rounded education and staying inspired, you’ll be able to get the wealth you’ve been looking for.


 

Read more from the original source:

http://www.entrepreneur.com/article/253514