One of the best, low-cost ways to invest in your business skills is to join a Network Marketing company. There are many other options such as starting a traditional business or maybe even an Online Business.
But if you want to guarantee yourself something concrete where business skills are concern, my take is on Network Marketing.
Regardless of what you have heard about this industry or how much money people have lost there, the biggest reason why I would recommend everyone to invest in a network marketing company is because of what you can learn there, and not because of how much money you can make (although it would be fantastic if you can make a living out of it).
You see, network marketing companies are the one place where people will share their trade secrets FREELY. It is logical because in order for your upline to succeed, they will want you to succeed as well! Therefore, they will not hold back in teaching you the skills of a business person.
Furthermore, the relatively low cost of investing in a network marketing company will amaze you for what you can learn for the price you are paying (a few bottles of vitamins and a business kit for the experience of a lifetime!) They will patiently train you in the attitudes and business skills you need to succeed in this industry.
Basically, you can’t succeed in network marketing with an employee’s mindset. A network marketing company will train you in sales, communication, teamwork, leadership, positive thinking, self-improvement, time and money investment as well as the support of your upline as a personal coach and mentor. I dare say that even if you didn’t make a cent, but diligently went through their program, the skills you develop will last a lifetime.
You can also develop skills by attaching yourself to an insurance agency. The job may be challenging, but those companies will also teach you the same skills above and maybe even gain a few tips on financial planning as well.
How about an Internet business? If you have the aptitude for computers, Internet businesses offer a low cost, high-profit margin business that can earn a lot of money and tap into a worldwide market.
Other places you can learn about business skills can be found at financial planning courses, real estate investment courses, time management courses and lots more.
All these I have suggested will be the safest way you can start a new business. You are only spending a few hundred to a thousand dollars in start-up and education. A traditional business might be too risky for someone without any business experience. You invest tens of thousands of dollars and you might struggle trying to break even. But once you have developed the skills above, you will have a higher chance of succeeding.
The most important thing of all besides a good learning attitude are the people you mix around with.
It has been said before; you are the sum of the five people you spend the most time with!
This is very hard to swallow but imagine if you start talking to your five beer drinking, poker buddies that you want to go out on your own and make a fortune, what would they tell you? They would laugh their socks off before tearing your ego into a million pieces!
At the heart of man lies jealousy. They don’t want to see the people around them succeed. If you succeed, it makes them look bad. They know in their hearts that they are going no where yet they embrace that lifestyle and pull you down with them. They will steal your dream, and rob you of your financial freedom if you are not careful!
The key point to remember is: Only mix with Positive thinking people!
Positive thinking is not wishful thinking. A wishful thinker is a dreamer who doesn’t take action. Positive thinking is backed by action and you will feel the energy of people who believe in you and support your dreams.
If you hang out with ducks, you will quack… but if you hang out with eagles, you will soar!
So start looking for people who will follow your vision or are willing to grow together with you.
Lastly, you must BELIEVE IN YOURSELF!
The task of stepping out of your comfort zone may seem terrifying and many will not support your dream. They may even go on the offensive even if you don’t share your dream. That person may even be your parents or your spouse.
Then you will be faced with the question, is my financial freedom worth the price I am paying now? Can I live another day with the same routine, the same job, the same paycheck or the same drudgery? If the answer is no, then take action NOW. Not tomorrow, you will wake up and forget about your dream.
Write down your desire on a piece of paper and hang on tight to it everyday. Share it with someone positive and take that first step.
You won’t regret it.
To Your Financial Freedom!
Showing posts with label people. Show all posts
Showing posts with label people. Show all posts
Tuesday, June 9, 2009
The Most Important Rule in Investing
What Does Investing Mean To People?
What comes in to your mind when you mention the word investing?
Does it mean, putting your money in insurance, mutual funds, the stock market or even high-yield investments?
Other people might only think about investing when they are about to die and they haven’t left anything for their offspring.
Some even shiver when they hear the word, often claiming that they have no money to invest or feel that is too complicated a subject to even discuss about.
Many people even invest heavily in health supplements, personal trainers and beauticians to make themselves live longer, healthier or even look younger! Imagine the advertising budget for beauty companies nowadays.
All these are legitimate concerns when it comes to investing, but I am talking about the most important investment a person can make in his lifetime.
Invest in Yourself
The most important and No.1 rule is “Invest in Yourself” – if you don’t, who else will?
Your parents will only invest in your education only until you leave college. But that is just the basic necessities provided and does not teach you important lessons about financial education.
Would you depend on colleges or universities to teach you how to make money? Most colleges only teach you skills so you can earn money working for other people. How about business school? Honestly, if business lecturers are such experts at business, why are they still lecturing there instead of making a fortune in business ventures?
Would your boss teach you how to succeed in business so that one day, you will be in his position?
You and only you have to be proactive enough to take that responsibility
You see, when you invest in yourself, it means taking on the importance of educating yourself. Education not in the academic or technical sense, though they are necessary skills to be developed in life. Our education doesn’t stop at college.
For most working adults, their education enters retardation stage after they leave college. They stop learning and therefore they stop growing. They only grow sideways from eating too much pizzas or take-out during their busy lunch breaks.
We know that IQ is important right? But why aren’t the most intelligent people in the world the richest people in the world? There are many accountants and financial planners rushing to their cars every evening trying to beat the after work traffic congestions! They are not rich!
How about EQ or Emotional quotient? Do working hard, having a great attitude and a positive mindset solve our financial situation? These are important when running a business, but let me illustrate:
If you are driving from Boston to New York using the wrong road map, you won’t get to our destination no matter how fast you drive your car (working hard)! You can work harder, but you would only get to the wrong destination faster! You may have the best attitude in the world or the most positive mindset, but you still won’t get to New York (although the journey wouldn’t bother you since you are feeling positive about it)
What comes in to your mind when you mention the word investing?
Does it mean, putting your money in insurance, mutual funds, the stock market or even high-yield investments?
Other people might only think about investing when they are about to die and they haven’t left anything for their offspring.
Some even shiver when they hear the word, often claiming that they have no money to invest or feel that is too complicated a subject to even discuss about.
Many people even invest heavily in health supplements, personal trainers and beauticians to make themselves live longer, healthier or even look younger! Imagine the advertising budget for beauty companies nowadays.
All these are legitimate concerns when it comes to investing, but I am talking about the most important investment a person can make in his lifetime.
Invest in Yourself
The most important and No.1 rule is “Invest in Yourself” – if you don’t, who else will?
Your parents will only invest in your education only until you leave college. But that is just the basic necessities provided and does not teach you important lessons about financial education.
Would you depend on colleges or universities to teach you how to make money? Most colleges only teach you skills so you can earn money working for other people. How about business school? Honestly, if business lecturers are such experts at business, why are they still lecturing there instead of making a fortune in business ventures?
Would your boss teach you how to succeed in business so that one day, you will be in his position?
You and only you have to be proactive enough to take that responsibility
You see, when you invest in yourself, it means taking on the importance of educating yourself. Education not in the academic or technical sense, though they are necessary skills to be developed in life. Our education doesn’t stop at college.
For most working adults, their education enters retardation stage after they leave college. They stop learning and therefore they stop growing. They only grow sideways from eating too much pizzas or take-out during their busy lunch breaks.
We know that IQ is important right? But why aren’t the most intelligent people in the world the richest people in the world? There are many accountants and financial planners rushing to their cars every evening trying to beat the after work traffic congestions! They are not rich!
How about EQ or Emotional quotient? Do working hard, having a great attitude and a positive mindset solve our financial situation? These are important when running a business, but let me illustrate:
If you are driving from Boston to New York using the wrong road map, you won’t get to our destination no matter how fast you drive your car (working hard)! You can work harder, but you would only get to the wrong destination faster! You may have the best attitude in the world or the most positive mindset, but you still won’t get to New York (although the journey wouldn’t bother you since you are feeling positive about it)
Ways To Achieve Wealth
Wealth Building Models
Everyone wants to make more money, but people are generally split into two categories:
Those who bring results after they are promised wealth first
Or
Those who bring the results first, then are rewarded by others afterwards
Let’s explore the two groups in depth.
Those who only move their butts after promised big fat paychecks are more like employees, freshmen, or mercenaries.
There is no right or no wrong with this kind of thinking, but consider: you are once again, trading your precious time for money. Instead of investing your time in an ASSET that generates money, you spend your time working on something that is short term, limited wealth, and does not give you income long after you have stopped working.
Consider also, that this kind of short term vision will only produce limited or temporary results at best. Ever seen a security guard asleep at work when the boss is not around?
Furthermore, the part where our emotions get the better of us is when we allow our lives to be run by chasing the dollar. It is evident whenever an employee is offered a higher salary, more medical benefits and longer vacations, that their heart starts pumping faster.
A higher salary doesn’t mean less financial problems. On the contrary when your income goes up, your commitments, your tax bracket and your time spent in your company increases. The greater your salary, the weaker your position because if your boss is paying you a 5 figure income and calls for an emergency meeting, you had better rush over to the office even if you are halfway making love to your wife!
I think the best definition of an employee/boss relationship can be summed up as this.
An employee will only do the bare minimum to keep the boss from firing them and a boss will only pay the bare minimum to keep an employee from leaving.
Now let’s explore the other group.
There are many creative people, inventors, entrepreneurs, and business leaders who fall into this category.
An entrepreneur is someone who always has good ideas.
The first obstacle we need to overcome if we want to succeed in the second group is to stop working for money. What does this mean? Isn’t making money part and parcel of having good financial IQ?
What I mean by ‘stop working for money’ is not working for free. Rather, it means work so as to gain the necessary skills you need to be a successful entrepreneur (or inventor, investor). Allow me to illustrate:
If you lack the contacts for running a business, where would the best place be to look for contacts? Of course, your competitor’s customers.
How about product knowledge? Then work with a company that will teach you all the ins and outs of the tricks of the trade.
Not familiar with the production line of a factory? Work in one! Learn the ropes or manage the factory workers.
Fear of talking to people? Get a sales job where you will be forced to talk to lots of people. It is also a great way to develop perseverance!
Don’t you know that the best education you can get is in real life! Not at a lecture hall.
The bottom-line is: not everybody has what it takes to succeed as an entrepreneur!
It is not that easy. Many lack the perseverance, the creative mindset, the financial capabilities or the necessary people to get the job done and usually give up too early before any results can be seen! The fastest way to get those skills to succeed is to learn them hands on and you even get paid in the process! Don’t get absorbed with how much you are paid.
When Donald Trump was selecting candidates in The Apprentice, their first task was to go to the streets and sell lemonade! Many would find it a degrading task. But to The Donald, it was very important: If you can’t even do something as simple as sell lemonade, how on earth can you handle a daunting task like running the Trump Empire?
Again, let me emphasize:
Would you trade time for short term money? (Money stops coming in when you stop)
Or
Trade time and money for a long term asset that generates you income? (Even long after you have stopped)
God created us with a brain. All we need to do is look around us and observe problems to overcome because every problem is an opportunity in disguise.
It is all up to you. You may or may not see the results in the short term, but by using our brains and the resources around us, we can create true value that others are willing to pay for what we have to offer.
Everyone wants to make more money, but people are generally split into two categories:
Those who bring results after they are promised wealth first
Or
Those who bring the results first, then are rewarded by others afterwards
Let’s explore the two groups in depth.
Those who only move their butts after promised big fat paychecks are more like employees, freshmen, or mercenaries.
There is no right or no wrong with this kind of thinking, but consider: you are once again, trading your precious time for money. Instead of investing your time in an ASSET that generates money, you spend your time working on something that is short term, limited wealth, and does not give you income long after you have stopped working.
Consider also, that this kind of short term vision will only produce limited or temporary results at best. Ever seen a security guard asleep at work when the boss is not around?
Furthermore, the part where our emotions get the better of us is when we allow our lives to be run by chasing the dollar. It is evident whenever an employee is offered a higher salary, more medical benefits and longer vacations, that their heart starts pumping faster.
A higher salary doesn’t mean less financial problems. On the contrary when your income goes up, your commitments, your tax bracket and your time spent in your company increases. The greater your salary, the weaker your position because if your boss is paying you a 5 figure income and calls for an emergency meeting, you had better rush over to the office even if you are halfway making love to your wife!
I think the best definition of an employee/boss relationship can be summed up as this.
An employee will only do the bare minimum to keep the boss from firing them and a boss will only pay the bare minimum to keep an employee from leaving.
Now let’s explore the other group.
There are many creative people, inventors, entrepreneurs, and business leaders who fall into this category.
An entrepreneur is someone who always has good ideas.
The first obstacle we need to overcome if we want to succeed in the second group is to stop working for money. What does this mean? Isn’t making money part and parcel of having good financial IQ?
What I mean by ‘stop working for money’ is not working for free. Rather, it means work so as to gain the necessary skills you need to be a successful entrepreneur (or inventor, investor). Allow me to illustrate:
If you lack the contacts for running a business, where would the best place be to look for contacts? Of course, your competitor’s customers.
How about product knowledge? Then work with a company that will teach you all the ins and outs of the tricks of the trade.
Not familiar with the production line of a factory? Work in one! Learn the ropes or manage the factory workers.
Fear of talking to people? Get a sales job where you will be forced to talk to lots of people. It is also a great way to develop perseverance!
Don’t you know that the best education you can get is in real life! Not at a lecture hall.
The bottom-line is: not everybody has what it takes to succeed as an entrepreneur!
It is not that easy. Many lack the perseverance, the creative mindset, the financial capabilities or the necessary people to get the job done and usually give up too early before any results can be seen! The fastest way to get those skills to succeed is to learn them hands on and you even get paid in the process! Don’t get absorbed with how much you are paid.
When Donald Trump was selecting candidates in The Apprentice, their first task was to go to the streets and sell lemonade! Many would find it a degrading task. But to The Donald, it was very important: If you can’t even do something as simple as sell lemonade, how on earth can you handle a daunting task like running the Trump Empire?
Again, let me emphasize:
Would you trade time for short term money? (Money stops coming in when you stop)
Or
Trade time and money for a long term asset that generates you income? (Even long after you have stopped)
God created us with a brain. All we need to do is look around us and observe problems to overcome because every problem is an opportunity in disguise.
It is all up to you. You may or may not see the results in the short term, but by using our brains and the resources around us, we can create true value that others are willing to pay for what we have to offer.
Subscribe to:
Posts (Atom)