Influencer marketing is popular now, but it’s not just a trend that’s going to fade away. In fact, it’s nowhere near done growing. It will continue to become more and more popular over the coming years, so now is the best time to learn about it and prepare to incorporate it into your own strategies.
1. More people are becoming influencers.
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While it might feel like there are too many influencers out there, that’s actually not the case. As social media platforms continue to grow, there are more opportunities for new people to become influencers.
Some will certainly do this intentionally, while others will simply be sharing about their life and happen to strike up a brand deal with a company they love. Either way, there will be more people growing audiences in specific niches. This means you have a better chance of finding someone talking to your specific ideal audience that’s perfect for your ecommerce store.
2. Influencer marketing agencies are growing in popularity.
As with any business strategy or tactic, influencer marketing is becoming standardized. There are now agencies that represent influencers and agencies designed to help brands find the best influencers for their strategy. As business surrounding influencer marketing continues to grow, the marketing itself will also keep expanding.
For ecommerce brands that don’t want to dedicate the time or resources to keeping up with influencer marketing trends, these kinds of agencies are a great option. You can still take advantage of the incredible success that often comes with influencer marketing without learning everything yourself.
3. There are more content options.
Influencers began with creating written blog posts talking about their favorite products. Then, social media became more popular and the kinds of content influencers were creating changed. Nowadays, video is perhaps the most popular kind of content for influencers to make when it comes to promoting products. Instagram and Facebook Live, IGTV, YouTube, and TikTok have all shown the incredible power of video.
However, with the growing popularity of podcasts and the advent of audio-only apps like Clubhouse, it makes you wonder what the next big trend in influencer marketing will be. While we might not know that answer, we do know it will continue to evolve. Ecommerce brands can be prepared to take advantage of new, innovative platforms and content by joining these new platforms as they arise. If you are already building a following on a particular platform, influencers will be more likely to want to work with you.
4. Influencers are showing more of their reality.
In many ways, influencers are going back to their roots. In recent years, people have become far more interested in seeing posts that aren’t overly edited. They don’t want to listen to, learn from, or take advice from someone whose life seems entirely unattainable. Instead, they want to see reality. They want to see influencers make mistakes and have bad days and pick themselves back up again and keep going.
Because of this open transparency, even more people are trusting and following influencers, which means that there are more people to see and buy from sponsored content. Ecommerce brands can now reach even more people when they work with influencers, especially if they’re not caught up in showing only the perfect, highly-filtered sides of their life.
I’ve miss you all during this period. For not posting and engaging with all my lovely followers. A big sorry for that. It’s was because of a project at hand which I have to give it all my attention. Now an right back.
Good employee is a vital asset to any thriving society, and there’s nothing wrong with holding a satisfactory job, has long it’s contributing to your financial health and well-being. But what if you are tired of your your job and want to Quite the rat race? What if your dream is to be financial free before you’re 50? What if you want to have your own system, have all the time, and be in control of your life?
Entrepreneurship can be the best route to achieve those aims. And freelance writing can also help accelerate you toward your aim.
With over 54 million Americans alone, opting to forego traditional careers and start a freelance career that gives them more flexibility to create a lifestyle they love, we’re seeing an unprecedented shift in the way companies function around the world.
Hiring freelancers is becoming not only more acceptable, but more attractive for many businesses. This creates an incredible opportunity for people with useful skills to start a freelancing business on the side, and eventually grow that into a sustainable self-employed career.
And beside, the world of employment is changing rapidly. More and more people are becoming so-called “digital nomad’s” meaning that they can work from their couch without getting out of the pajamas.
Even though 5-10 years ago it might have sounded like a dream, now pretty much every one with the skill-set can do it. And the Good news is just that you don’t have to spend hundred years in the most expensive University to get there
This are jobs you can work from the comfort of your home why working on your project. With your extra time Some may not be that paid, like a full-time job, but it can help stuff some of your bills why you devote the rest of your time to your main business. All you need to start a freelance writing gig, is a computer, a quiet space, a Strong work ethic, and a willingness to follow straightforward quidelines for working effectively.
Freelance writing.
A content creator produces entertaining or educational material that caters to the interests and challenges of a target audiences. The content he/she produces can take many forms, including blog posts, videos, ebooks, photos, and infographics. Today, businesses employ content creators to engage new and existing customers on the brand behalf.
As a new freelance writer, you can focus on one services or several. Here are a few services you can offer when you start out.
Editing: you can offer basic proofreading or more in-depth approach called developmental editing.
Ghostwriting: the content you write isn’t under your name. For example, a client may want you to Ghostwriter an Ebook under their name.
Copy writing: you may write copy for the web, press releases, sales pages or use your persuasive skills to update a website.
Social media marketing: many writers, including myself, have started offering social media marketing services. This entails handling a Clients social media accounts and updating them regularly.
Blog management: you may be responsible for managing writers for your client, editing and publishing content on your client website.
How to find writing work.
now more than ever finding lucrative jobs has not been crave in a stone, it easy. Content prices vary drastically depending on the business using it. For example, businesses that need hundreds of small posts or need articles that have specific keywords in them will pay a small amount companies like Iwriter and Copywriting.network, this networks pay small amounts for small contents and then resell them. But want to make it big they may not be your best choice.
1. Cold pitching:
It’s when you contact bloggers, entrepreneurs, companies, small businesses or startups and let them know you are a freelance writer and can help grow their business.
Though it may sounds scary and hard. Especially if you are brand new to writing but it still worth. Because you need to step above your fear of being rejected. Actually you may hear a “no” but don’t have to settle for that.
2. Pitch to a job board ad:
If you are new to freelance writing and you want to find quality jobs, responding to job ads is your best bet, it also the main way many new writer’s use to finding consistent work site, like.
Who pays writers: this site primarily offers writers a good research opportunity to (earn how much different publications pay, but there are some online blogging opportunities as well (depending on the publication). Maintained by a anonymous volunteer collective list is updated monthly.
Freelance writing jobs: this invaluable resource updates daily with online writing jobs scooped from around the internet. It also got a rich achieve filled with posts offering all kinds of tips and insight for beginning and experienced freelancers alike.
Where to pitch: instead of simply listing online writing jobs, where to pitch offers a list of potential venues when you type in a topic you’re interested in working on. If you’re willing to put in that effort, you’re bound to find some new publication to pitch.
Freelance writers den: this is a membership site, so much more than a job board, for $25/month, you get access to two dozen “bootcamps” that teach you how to make money as a freelance writer and hundreds of forums where you can get any question answered.
Problogger job board: created by Darren Rowse a 7 figure blogger since 2005, given probloggers high profile in the blogosphere, you can often find jobs posted by some big time blogs here.
Freedom with writing: when I wake up the first thing I do is to scroll through my email, and highly I won’t find a mail from freedom with writing. About writing jobs and there pay. Just visit the site and the first pop-up you will see, we be a cool invitation to sign up your email.
Behance creative jobs: powered by Adobe, behance is an online platform for creative professional to showcase their work, find inspiration and connect with companies looking for hire.
Continues learning is the key.
The best thing you can do as a new freelance writer is continue to learn. Whether it’s writing tips, business and marketing, science etc, whatsoever field you maybe interested in. home your skills by learning from those who have done it before. No body were born a expert writer. But through trail and errors sometime denied piches they were able to make it big to such extend.
You may not be endue with all the knowledge and skills that may take to be a freelance writer. But never give up the fact others like “you” were able to drive a pitch, means you too can.
It all start with confidence.
If not for anything think about all the team paper and research project you have written from high schools to this level. It means you have written more than enough projects.
But though putting yourself out there and trying to land writing gigs can be tough. You’ll get rejected turn down or may have clients walk you over.
But what does it mean? should you close your pad, put back the cover of your pen and work out? No, that you are rejected once or twice or even upto ten time doesn’t mean you are a failure. It just mean you have a little to improve on. To be a successful freelance writer you really need confidence and loose the fear of pitching.
Never fear been rejected, wake-up early. Check-up your job board, if you have sign up with Freedom with writing, check your mail. Send as many piches as you can.
Few skills you may need to make it big.
Image editing skill: though you don’t need to take a courses in graphic designing, but you can use many free editing program like Canva can be very useful as many publishers we demand that you add image to your content.
Content marketing skill: knowing how a company use content to market there product or services is very vital to any freelance writer. Weather they use write papers, a lead magnet, case studies and email list to help then gain leads. Knowing this strategies can help you give out your best.
Blogging skill: has content is different from research paper that you write in high schools and colleges. So you need to know the difference. However you may have read ton of blog post but it’s possible that you may not have taken closer look at the formatting, like subheading and creating write space. You need to know how to captivate your reader with your headline and introduction. You also need to back up class and facts with reputation.
Why we still believe in having the good things of life money can buy, the joy, sense of satisfaction that come from having things, that perfect vacation, giving out generously to the community. And paying for my kids to be born college. Etc.
It’s still not to be taking lightly the danger that emotional spending can have on our Overall financial health. When people began to complain about lack of capital to start there dream business, or the down payment to acquire there first piece of Rental property. They fail to realize that changing just a few of your spending habit can put you on the fast track to turning those what-if into reality.
What is emotional spending.
Have you ever spend money to improve your mood? maybe you were stressed, felling fatiqued, or unhappy? Did it ever cease on you that buying that new pair of shoes can calm your negative emotion?
It is also known has retail therapy, trying to derive joy from buying new stuff that you didn’t need. According to phycology today, it’s called. “The neurochemical of happiness” when we shop, our body releases dopamine, that make us feels happy for the moment. Ironically, most of those blissful release is during the anticipation of that shiny new toy, not the actual purchase. And before we know it, the bliss is gone.
Signs you are spending emotionally.
1. You feel like your purchases are always competing with others:
Buying stuff to fit in with a crowd, or to give the appearance that you’re of a certain socioeconomic status, is something alot of people struggle with. It can become unhealthy for both your self-esteem and your wallet.
2. You are spending to get some relief:
Spending can be a kind of escape. It provides a moment of relief from our everyday responsibilities, because starting at cute makeup or browsing sales sections is bolter easier and more fun than doing the dishes, catching up on emails, or picking up the front room for the fifth time today. That’s is why they refer it to retail therapy.
And making purchase is an expensive way to feel better or take a break when there are many alternatives that don’t cost a dime.
3. You spend money to celebrate yourself:
A promotion comes your way at work or finally achieve your personal accomplishment. You have being working towards, why can’t you give yourself a high-five by spending a little bit. However, if you feel that you constantly need to spend money on a new item or new experience as a mean that you’re using spending as a way to connect with yourself at a big emotional distance.
4. Spend money when you are stressed about money.
Bills are pie-up and creditors are knocking. It can sometime feel like you don’t know how to handle it. So what are you tempted to do? Satiate the unhappiness or stress by going out to dinner or upgrading your TV.
How to avoid emotional spending.
Spending money comes easily to all of us and all of us loves spending. But when shopping is a vice for dealing with stress, sadness or even fear, then it’s a big problem.
“If you fail to plan, you’re planning to fail,” ever head that saying? You need a plan to keep those rollercoaster emotions far, far away from your shopping cart.
And below are some simple steps to help you shop responsibly.
1. Budget, budget, plan your spending:
When you use your money with a plan in mind, you feel much more confident about your spending habits. It helps you get really clear about what you want.
It’s the things we didn’t plan on purchasing that throw off our budget and leave us overwhelmed. Asking yourself questions like.
Why do I want this item?
Will I really use it?
Does it fit within my budget?
Having the store hold the item for you for 24 hours. If after that time frame you still want to make the purchase then take the next steps.
3. Put your previous “guilt” purchases on paper.
When last did you make a purchases only to feel guilty after. Take some time to write down things you have felt guilty for buying recently and why you felt remorse.
If you are feeling guilty for buying something, finding out the root cause can help you overcome this. It will help you identify the purchases that you are buying out of habit and discontinue buying things that make you feel guilty or shame.
4. Sit to calculate the cost:
Whenever you’re feeling that emotional spending is kicking in. You stop for a while and calculate the cost of buying it. Try to think of how many hours a day you need to work or have an overtime if you buy it.
A lot of quilt can come from what we buy when we are emotionally shopping. When we are sad, mad, or lonely we can easily talk ourselves into thinking that a new phone or work outfit will make us feel better. However, during this time you are more likely to purchase things you don’t need, making you feel guilty after it’s a vicious cycle of feeling upset, buying something to make yourself feel better and feeling worse for buying unnecessary things.
However, you must remember that spending money to feel better will not last. The problem is still there, but your money is gone. That feeling can be worse. Now, you’d feel guilty. So, in the end, emotional spending doesn’t really help cope up with the loneliness.
The Economic crisis due to the pandemic has affected every country in the world and unemployment rates continue to grow. People of all race are burdens with such question as “how would I make a living and provide for myself if I got laid off by my employer tomorrow?
Reading through an article this week in Entrepreneur.com, titled “restaurant in Argentina offers 15 jobs and 1,500 people attend the interview” and this happens in the province of Buenos Aires, Argentina. Quite shows that the crisis hit everywhere all round the world.
If you have severance or savings you can live off of that for a little bit,but then what? Do you try to find a job somewhere else and risk having the same thing again. Being let go when the same unfavourable economic wind’s start blowing?
Or, do you take your own fate into your own hands and become your own boss?
Let me tell you this, you may not have the Necessary business skill, needed. But don’t forget that every person that’s at the top now were once at the button. All those top business minds around you were once without any business skill, with the vast resources of information now available everywhere, you can master any business skill.
This is america. You have the freedom to go out and start your own business and be in charge of your life. Rather than living your future with uncertainty cause by unpredictable economic change that can effect your career at every turn. That doesn’t mean you pop to door and drove your way home. You don’t have to quit your day job yet. But you can start it on the side during your spare time.
After all if you’re going to bet on someone why don’t you bet on yourself? Once you decide you are going to to jump off the hamster wheel of working for someone else and do your own thing instead.
And there different ways you can go about it either.
Open a business yourself,
Or, open up a franchise.
And the goodness is that undeniable success has been achieve via both.
Why not consider a franchise.
A franchise provides entrepreneurs with the opportunity to buy an established business with branding and processes in place. Franchising is a great way to start a business. But you don’t just have to jump into it. Before you sign that check, to your franchisor, you need to do your due diligence to understand what a franchise is?
Anyway! What is a franchise: the international franchise association define a franchise as a “method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system. And a franchisee, who pays a royalty and often an initial free for the right to do business under the franchisor’s name and system.
Acquiring a franchise would eliminate the time and risk involved with developing your own products, branding, and operating methods.
Yes. You have to pay for that convenience, and you know that even as a franchise owner, success won’t happen overnight. And you are OK with that.
but still, you’re on the fence in buying a franchise a good idea? Is it a good idea for you? Which franchise should you purchase? Will it make you money? Is this the best way for you to start a business?
Because buying a franchise is such a mojor financial decision, you need to thoroughly asses not only the specific franchise opportunity you think you want to buy. But also your own finances and suitability for operating a business as a franchise. Here are some of the questions you need to answer in order to make a well informed decision.
Franchise vs. Startup: which one works for you?
Franchise.
Franchise has brand recognition: franchises bring brand awareness with their names from day one. Therefore, customers. Will know about your products which will increase your sales. By buying a franchise, you are actually buying a turnkey business that is ready and waiting for you to start.
Franchise has higher success rate: a franchise is a proven system. All franchise operate through a common system and they are only responsible from their day to day operations. Also, they gets trained about the product line, marketing, how to deal with staff and other aspects of their daily activities. Basically, they get an ongoing support for their businesses which bring them success.
Start-up.
Start-up gives you professional freedom and growth: when you have your own business, you can work anywhere you want. You Don’t need to report to other people. This mean you own a professional freedom. moreover, franchise businesses can grow only up to a certain point but there is not limit to the growth of a start-up business.
Start-up permit’s your innovation and creativity: founding a startup needs innovation and creativity. If you are highly creative person full of different ideas and you want to make these ideas a reality you should definitely startup.
Looking to buy a franchise.
Owning a franchise (or any business, for that matter) can be a large undertaking emotionally, physically and financially, before you dive into buying a franchise, be confident in your reasoning for wanting to own one. If you think owning a franchise maybe easier than owning any other type of business, keep in mind that ownership in general comes with it’s challenges.
1. What would you enjoy selling:
What industries are you familiar with? What kind of work do you like to do, or dislike doing? If you don’t like dealing with paperwork, government regulations frequently hiring people (and doing background checks). Opening a home healthcare franchise would be a bad idea for you even if there is a need for it in your area. Similarly, if you don’t know much about taxes and accounting, a franchise that offers those services wouldn’t be rights for you either. Remember that if your contract won’t let you sell your franchise or you can’t find a buyer, you’re stuck with it for the term of the contract. Even if you don’t like running the business and it’s unprofitable.
2. How well established is the franchise brand.
How long has the franchise been in existence? Have they been in business for many years or are they brand-new? How many other franchises have they opened and where are they located? While there can be some advantages for becoming one of a franchisor’s first franchisee’s, there’s also a significant risk with an untested brand and a company that doesn’t have a well established track record in franchising.
3. Consult with the better business bureau and other agencies.
You can see if there are consumer complaints against a particular franchisor by doing search on the better business bureau’s site or by making a request in writing to the FTC. It’s also important to research whether individual franchises near your potential location have a record of complaints after all, if a franchisee down the street has a bad rating. That will reflect you.
4. Attend franchise events.
The international franchise expo bills itself as the largest expo in the u.s, with more than 300 franchises in attendance, the international franchise association, the industry’s largest trade group, host an annual conference, while a number of smaller outfits host regional events. While it’s one-stop shopping in terms of basic information and networking, keep in mind there are lots of “shiny ad’s at such events.
A business owner (self employed) is defined as “an individual or entity who owns a business entity in an attempt to profit from the successful operation of the company.
Whereas, an entrepreneur is “a person who organizes and operate a business or businesses. Taking on greater than normal financial risks to do so.
Entrepreneurs all effort is on system. Whereas business owners may be focused on the profitability of their business. Entrepreneurs leverage peoples time, ideas, and money to achieves there business goal.
A study published in the Quarterly journal of economics revealed a key difference of being an entrepreneur and self-employed. The researchers found that a business legal status whether it is incorporated or unincorporated is what separates entrepreneurs from other business owners.
Sure both entrepreneurs and small business owners both own a business. But what separates them is what they think about their company. And how they approach the business.
Big picture ideas: entrepreneurs have a vision that goes far into the future. Small business owners focus more on the now and their dream is often just ahead of them, and within reach. They are more concern with the day to day activities, that without them the business may not operate. They are the best on there team. If at all they have a team, on the other hand, entrepreneurs dream of the future. And they are working towards a goal that often goes well beyond the end of the year.
Scalability: when it comes to entrepreneurs, most of them dream that their company will become huge in the future. And turn they’ll turn it public(I.e imcorporating). They don’t necessarily want to run the day to day affairs, and dream of some day selling their business. On the other hand, small business owners are more sentimental when it comes to their company and wouldn’t dream of handling it over to someone else, Except it there children or relations. They love where they are and aren’t looking up to jump to the next big idea once they’ve gotten all could out of their current business.
Risk: this is probably the biggest difference between an entrepreneur and a small business owner. Entrepreneurs take big risks sometimes they Don’t. But risk is part of the appeal of becoming an entrepreneur. Small business owners often tend to go with what they know and avoid things that could potentially turn into a huge problem for them. They know what they want, and what isn’t stress that comes along with huge risk.
Innovation: entrepreneurs are always looking for the new thing and are usually frequent visitors of technology sites. They can’t get enough of what’s new and hot,and that’s often why they are at the forefront of huge movements. Whereas small business owners know what works for their business, and usually stick with that because they know it will bring them continued success in the future. They’re filled the niche they’ve set out to fill and there is no need for them to go further.
Knowledge: entrepreneurs are obsessed with self growth. They know that for them to minimize risks have broadened there knowledge. By learning all they can, in all business field. From marketing to taxation, accounting etc. Not that they would hire specialist in those field but they have to maximize there understanding. Whereas small business owners are mostly specialist, they try to be the best in there Field and ignore any other room for self growth.
Time: meet any entrepreneur and they will tell you they want to have total control over there time, by spending on what they like, and travelling when they which. Have a Buck to spend with kids and watch them grow up. they hire expects and leverage there time. Whereas as small business owners are the best on there team, there presence are always needed to work according to planned.
How entrepreneurs protect there business.
Incorporated status provides business owners with some added legal protections, which provides them a little more freedom to delve into larger and riskier investment compared to there incorporated counterparts.
Incorporated business are able to separate their personal finances from the business. This mean that if there is a liability issue only the business, asset are at risk. In an unincorporated business there is no legal distinction between personal company finance and assets.
And apart from this incorporated business allows for more flexibility. This flexibility extends to spitting the income among share holders and how and when funds are withdrawn from the business.
Conclusion
Entrepreneurs and small business owners should expect to work smarter to ensures their company remains competitive. And focus on building brands because that what makes customers relate with company. It’s easy to be distracted by industry trends. But you need to stick to what makes your brands unique.
We value your feedback, and expecting to hear from you via comments. Please comment.
There is a popular myth that ostriches bury their head in the sand to avoid predators-that they are so stupid they believe if they can’t see the predator, the predator can’t see them. This actually is completely false. But popular myths are rarely based on fact, and “bury your head in the sand” is a common term meaning if you ignore your problems, they will go away.
But over in the real world that doesn’t happen. Just like a illustration given by Robert kiyosaki in one of is book. That like a high school student, struggling with algebra. If he ignore the course, he may fail and not get promoted to another class, if he miss the class he may not graduate from high school. And that may denial him access to college and her chance of survival in life may be slim. Unless he’s more smart.
Taking your eye off a financial issue hoping that ignoring it will just cure you money problem is completely “false” instead it deepen the problem. And this is exactly what millions of people are doing.
1. Not having emergency fund hoping that emergency won’t happen.
People who do not have an emergency fund are at the greatest risk of harming their financial future. When you do not have the extra cash sitting there, and an emergency happens, you will be forced to turn to debt every time. Mounting bad debts put pressure on you financially and draw you from achieving your goals. Financial pressure causes people to make more bad decisions and continues this toxic cycle of having no savings and turning to debt every time a problem arises.
What’s your insurance deductible if you were to get into a car crash (please, am buying hoping for any to get such) that was your fault? How about our home owners policy deductible if something were to happen to/at your home? I had to have my appendix out when I was younger. That’s an emergency surgery every single time no price shopping or planning ahead or that one. A total of $14,000 is what it cost almost two decades ago.
2. Not talking about money with your significant other.
Money is a cause of conflict in many marriages. And neglecting it can have a severe impact on your relationship. About a third of adults with partners report that money is a big source of conflict in their relationship. It’s no wonder that financial problems are a leading cause of divorce. Money is not a issue that should be neglected at all thinking that it will be solve itself. It won’t. If you’re committed to a relationship, you and your partner owed each other a calm, honest conversation about each others finance, habit’s, goals, and anxieties.
If you spouse is holding onto that belief that everything will work out naturally, you may have a difficult time getting them to participate in the discussion. Many personality types are much better at being flexible in the current moment but not great at planning for the long term.
This personalities often feel that if they keep working hard everything will just somehow work out. The truth is, financial success comes when you make a solid plan and stick to it.
3. Spending with a plan and later wondering were all your money went to.
Tammy Johnston from the financial guides said, not setting up and using a real budget. Most people have no idea what it actually costs them to in their lives for a year and end up getting surprised by expenses that they knew were coming but neglected to plan for.
Spending all your income can really hunt your ability to save fast toward your financial plan. So you must make sure you create one.
Actually, everyone recommend having a budget. Dave Ramsey calls it giving every dollar a name.
If you don’t tell your money where it’s going and what it’s going to do for you. Probably, it will find it’s own thing to do, and somehow it never finds it’s way into investment account or retirement account.
4. Not knowing opportunity cost.
Business dictionary defines “opportunity cost” as “a benefit, profit, or value of something that must be given up to acquire or achieve something else. Since Every resource (land, money, time, etc) can be put to alternative uses, every action, choice or decision has an associated opportunity cost;
Every purchase can either be a potential investment or the money saved can be a potential investment. Every penny you put into good investments can be worth dollars in the future.
Continues spending time, and money in the company of lowers values, Can’t bring about a winning situation for you financially, although there is time. And place to spend money just for fun but thoses times should be well thought out. So that in the long run you can enjoy the freedom that comes with money.
5. Not paying ourselves first.
Rather than paying yourself first to ensure you have money to save and invest for your future, you may choose to pay yourself last, you may want to pay all your bills, buy any necessities, and have a little fun first. But the problem is always that you’ll fine yourself out of money before you are ready to save.
Even though you are using a budget plan, it suppose to be the no one item on your budget list. You are the most important person so far. Before all bills, you have to make it a priority. To credit at least a ten percent to your own self- account.
But this has to be all together different from your “emergency fund. Emergency fund is a cover of up to six months of living expense why pay your first, is a saving plan were you deduct some certain amount of money (I may suggest 10 percent of your paycheck) to a specific account before all bills toward your future.
I’ve spend a lot of time in investment forums, I see almost the same question over and over again. “How can I start a business or invest in real estate with no money and Bad credit?
How can I take such reap to financial freedom when even worst am deep in debt? You can work as hard as you want. You can hustle around the clock seven days a week, but you won’t Change the dynamics of your finances and the amount of your free time-not unless you get to the root of the problem.
By no means am I a financial guru. However, I can tell you that I have personally seen a significant change in my income and real net worth by rewriting how I think about money.
Deep inside of everybody is a urge to live the best of life. Everyone want to have a credit card that was already paid for by all those Arab oil shrieks and bill gate. But since it doesn’t happen that way. We can also live a happy life free from financial stress.
You may then also need some adjustment I’m your thinking and your life. But before will look at some things you need to make adjustments so that you can achieve your financial goal, let see some fact about money that financial nerds know.
it’s not about the money it’s about freedom: for me, I couldn’t care less about how much money I have in the bank. What I want is to be able to travel when I want. With my future kids all the time. Spend time with my future wife, away from work and work on stuff I actually enjoy working on. Money can help on this goal but money is not the goal.
Wealth building takes time and patience: there is no quaranteed way to get rich quick. It takes time, patience and sometimes a bit of luck. However, we also understand that building wealth is totally possible, and it doesn’t take a genius to do so. Simple actions can make dramatic differences over time.
High schools do practically nothing to prepare kids for a financially sound future: high school is great for a lot of things. You can learn how to find the acute angle on a triangle, what the emperor Nero did to people he didn’t like, or how to make a piñata out of paper mache and a balloon. But actually when it comes to things that actually matters in life, like “how to build your credit, ” when is the right time to buy house,” should you get the store credit card,” and more-schools fall short.
It’s okay to splurge on something nice____at the right time: most of the population buys stuff they don’t need, that they can’t afford, to impress people they don’t like. Why personal finance nerds save up and plan for the stuff they truly need to enriched there lives.
What adjustments should I began to make now?
Every body need good and rich things, will all want the best, but who paid for those beautiful stuff is what matters. That has been the particular purpose of all my writing. To help you arrive at a position that your investment began to pay for your stuff. And since many does not have the upfront money to invest, and the money won’t fall from heaven. It may be advisable to make some adjustments now, so that with time you won’t worry about money.
There isn’t a go-gether on the planet who sits and watches TV all day everyday, not one.
The average American watches five hours of TV every day. FIVE! Do you know how much you can accomplished in those hours?!
And there are people who spend $300 on cable bill every single month. They have every package, multiple boxes, and all other bells and whistles the company offers.
Can you tell what such people there lives consist of TV. They gets up in the morning, goes to work, comes home, and plants themselves on the couch, watching TV all night long, later, rinse, repeat.
Cable TV is expensive, and with all the more affordable options out there, including Netflix, HBO Go, Hulu, and amazon prime, it is completely unnecessary, if you found your pocket are empty frequently.
b. Houses:
When it’s true that you must have a shelter upon your head. You still also need to be smart when-to buy house. Buying a home can be a somewhat smart financial move. Still, few get how Much they really pay for home when they factor interest and taxes and other fees and maintenance. Like cars, most max themselves off the limits. They chain themselves to thoses big piles of bricks that can hold them done from many other things they’d prefer to be doing. Like freedom time or the ability to pick up and move elsewhere. Invest and let your investments income pay your home mortgage.
c. Brand new cars:
Your brand new car can lose up to 11 Percent of it’s value simply by driving it off the car lot. The average cost of a new car can be between $33,550. You stand to lose $3,691 by the time you get home and part it in your driveway for the first time.
A little math can help us, let’s do it. Let’s say you purchased that car brand new above and drove it for 10,000 miles. You are paying $3.36 per miles, plus taking hit for depreciation.
Now. Let’s say you buy a five-year old used car for $10,000 and drive it for that same 10.000 miles. Those miles only cost you $1.000 each, and you don’t take the huge depreciation hit.
I’ve heard the argument that when you buy a used car, you’re buying someone else’s problems. I don’t believe that. I’ve had mostly used cars my whole life. And they run just fine as long as you take care of them.
c. Bars.
Are you among the same people that went to the same bar every single night to sit in the same chair, and drink the same drink while talking to the same people?
Does this describe you? First off, bars are expensive, a good quality craft beer is going to run you any where from $4-$8 (really, really good quality beer is going to rum even more than that), while an entire six pack at the liquor store will run more along the lines of $8 to $12.
Second, alcohol isn’t a healthy choices. I’m not slamming alcohol-i love a good chocolate stout. And my city lougment Colo., is home to 10 microbreweries, today. (I say “today” because a new one deems to always be slated to open soon) alcohol in small quantities is just fine. But alcohol is 100 percent not necessary.
Do you always find yourself short of cash? Stay at home or better get go for a bike or run instead of about to the bar.
d. “I deserve it”
You may deserve it. But not “need” it, did you need it? Can you afford it? Then no, you don’t deserve it,
You want it, so learn the difference between a want and a need, and then fulfil the need and prioritize the want.
e. More house than you need.
One of my is friend is quity of this financial sin. He was living in a 4,000 square feet, for four people. Four bedrooms, four bathrooms, two stories, plus a basement and a four car tandem garage.
Guess how many house he owned, only one. All his purchasing power were tied-up into only that one mortgage. He couldn’t literary qualify for anyone loan while live in that one home.
Once will were having a conversation about him venturing into something by the side. Then I understand how bad is credit score was.
The only option for him to achieve is financial dream was to sold the house and bought another home, slightly smaller in size but significantly lower payments. When I work with him to sold the house. We decisively but a smaller home and this help uptight is budget.
We fear of not having enough, and we fear being ostracized. The fear of not having enough causes us to work harder and harder. The fear of ostracized causes us to keep up with the Joneses. All often the same.
Every successful businessperson I know took risks and put plans into action in order to reach the top. Sure, they were scared, but their desire to reach their goals surpassed that fear. There are so many opportunities available to you-especially in the world of investing and entrepreneurship, that once you let the fear go, you’ll wonder why you didn’t take action sooner!
As Oprah Winfrey says “whatever you fear most has no power-it is your fear that has the power.” It may be failure, but whatsoever power failure may have in our life’s, we personally give room to it, and let it paralyzed us from moving forward and making the changed. Because most people are risk adverse and want to avoid embarrassing mistakes or painful lessons. But that quite different from what successful people did. Successful people want to reach there goal than they fear failure.
Fear holds you back from reaching our dreams, from growing both personally and professionally, from reaching your true potential and from living the best of life.
Stuck in a rut.
The old adage “stuck in a rut” refers to how deer will take the same path to water from the woods over and over again, creating a rut over years. But if they find that the path is dangerous, they will find a new path in the same way. We often get in the Ruth of safety and security. When this happened will don’t change and will don’t grow rather we atrophy.
If you want to grow to be more than you are, you need a little fear to shake things up and set you on a different path.
The result is the same.
When it comes to money to me the power of money is often rooted in fear. We fear not having enough, and we fear being ostracized. The fear of not having enough causes us to work harder and Harder. The fear of being ostracized causes us to try and keep up with the Joneses. All too often, the result is the same. You no what? The American dream turn to American nightmare.
Fear of ostracized.
You might has hear this story again and again. Recently married, a happy-educated young couple move into a cramped, rented apartment, they realized they are saving money because two can live as cheaply as one. For a while they are happy.
Then, the apartment begins to feel cramped. They see friends moving into homes and having kids. They decide to save money to buy their dream home so they can have kids too. They now have two incomes, and they begin to focus on their careers they make a lot more money, but their expenses go up as well.
As the young couples income goes up, there taxes burdens rises- and when they buy their dream home. They incur property taxed- additionally, they also buy a new car. New furniture and new appliances to match the new house. Their liabilities column goes up and is full of mortgage and credit card debt.
They are now trapped in the rat race. Soon they have a baby and work harder to make ends meet. A credit card comes in the mail, and they max it out trying to stay afloat. A consumer credit agency calls and promises to help them consolidate their debt into one low payment. They do it. Pay off their credit cards and feel like they’ve done the smart thing. They breathe a sigh of relief.
Then their friends invite them to the mail for the memorial day sale. The young couple promises themselves they won’t buy anything, but they bring the credit card just in case.
Guess what????? Their fear of been ostracized, turns there american dream to american nightmare.
Face your fear.
If you didn’t do well in school, or if you were not the most popular, or you’re not good at math, or whatever other reasons you have to sell yourself short- none of it matters in the long run. Those so called shortcomings only count if you think they count.
You must know how money works and how you work. (By understanding your motivation, desire, and dream, and not cutting it short because of fear) stay true to them even when it means going against the Joneses. You must trust in yourself and not pay attention to others around you. What they value and how they value you.
Never run from what you know you need to learn. Even though you may not be good at it take time to develop, learn what you know you need to learn. Face your fear and doubt and a new world will open for you.
Push through your fear.
Because fear is uncomfortable, no one wants to stay stuck-in it. When you fear, you make a decision either you’ll push through the fear and accomplish more than you ever expected, or you’ll back down and return to what is comfortable. In either case it forces you into a decision. The goodness is that if you understand the dynamic of fear, you have power over it.
The fear of the dreaded “f” word has being the reason many people has refused to start-up business or investment of any kind. But even the most successful entrepreneurs experience their share. It’s simply part of the game. And who knows? It could even serve as the foundation for something far bigger and better.
It’s true that more than 90 percent of startups fail. And recognizing this right off the bat will prepare you intellectually, emotionally and financially and this 90 percent that fails were the 90 percent that take there eye off everything like failure. Pretending like they where too big, or too smart to fail.
Why to some this may seems, like been negative or being paranoid. It makes you smart. First there is a extended and a huge difference between preparing for failure and thinking you are going to fail. Preparing for failure makes you practical and thoughtful about all the possibilities that may occur. And even encourage you to thrive. Because being prepared quells fear and Prod’s you to keep going.
How preparing for failure looks like.
1. A good insurance policy can save your neck when disaster strikes.
Asses your business assets, and get them insured when possible. General liability insurance can keep everything from lawsuit to natural disaster, even from bankruptcy.
Don’t make the mistake of thinking it can’t happen to you. All businesses hit bumps in the road. It’s the successful ones that cover their bases before disaster strikes.
Take for example, a $50 monthly insurance premium would only cost you $600,000 a year. But if a $600,000 incident-which isn’t unreasonable for medical expenses, legal fees or commercial building costs occur that year, your premium will have paid for itself a thousand-fold.
2. Having a safety net:
Nearly 40% of Americans not having up to $400 set up for the rainy days. With out borrowing or selling something. It is not less for small business. Many small business don’t have emergency funds set aside.
Putting up safety nets protects you personally, regardless of what happens to your business, the best place to start is your emergency savings account.
The best way to finance this account. Is to think about your worst-case scenario. How much will you get sued. Or any other unexpected happens.
But also but in mind. Your emergency savings account is for emergency only. Tempting as it is! Don’t invest it or dip into it for in-the business needs.
3. Keeping an eye on trends.
Information are emerging at the speed of light. New and better way of doing things are emerging out every day. So you have to keep tap on trends.
You have to always reflesh yourself for trends. Don’t make the mistake of scoping your outdated information.
You don’t even have to wait for social changes to land your doorstep. Keep an eye on data. To learn how, for example. You can future proof your hiring strategy. If their schedule and compensation expectations are right. Maybe hiring seniors is smart-approach.
4. Signpost to tell when it’s time to throw in the towel.
Entrepreneurs are some of the most driven people in the world, but running a profitable business takes more than that.
You have to set parameters for project and initiatives to determine when it’s time to pull the plug on them, if you’ve already invested $100,000 in new product development, ask yourself should I keep going? Will the payoff still worth it.
Decide on a profit target for your product before you start building it out. That way, you know exactly how much you can spend before the project.
Will also appreciate you taking time to read our blog up to this extend. And we’ll be glad to hear from you, in a comment. Thanks.
The worst thing you can do as an entrepreneur is to, get only a Good product.
If all you have is a Good product. You won’t reach that far as an entrepreneur. Because of the vast competition in every industry and on every trade. Every seasonal entrepreneur that is obsessed to succeed in today’s highly competitive market place need more than a Good product.
Every entrepreneur has to understand that marketing is one of the most important part of any small business, and it’s especially important for new startup. An effective marketing plan, one that helps you identify the marketing activities that have the highest return on investment. Can often be the difference between small business that thrives and the one that dwindles.
But at most times, I found out that most small business are challenge with lack of funds. When you’re new or small business that doesn’t have the funds or other resources for a full-scale marketing plan, what’s there to do?
Actually you can do a lot with what you have, lack of fund don’t have to be an excuse. This guide we help you put a small business marketing strategy in place without breaking your budget.
What is a marketing plan.
An hour planning can save you hours of doings.
An effective marketing plan helps a company understand it’s target market and competitions, the impact and results of marketing decisions, and it provides for future initiatives.
There is nothing as frustrating as running a marketing campaign without any result or the desire result. Has Robert kiyosaki, in is book “investment guide” defines an “investment as a plan….” That is what marketing is, it is a plan to get your business from were it is, to were you want it to be.
And a marketing plan helps outlines a business specific marketing strategy and includes concrete actions to be taken and anticipated results marketing plans serve as roadmaps for companies to execute and measure the marketing efforts result over a specific period.
And there are several types of marketing plans. Including
1. Content marketing:
Content marketing as a marketing strategy can be valuable to educate your target audience and help them get excited about your business. It is the process of creating and sharing valuable free content to attract prospects and convert them into customers. The goal is to educate, entertain and inspire people to earn there trust and build brand awareness.
Because content marketing can take so many forms. And speak to so many audiences and buyer personas there are endless possibility to what your content can look like.
Webinars: webinars can help educate your target Audience and form a deeper, more personal connection with customers.
Posting blog post regularly: this can help you connect with customers and potential customers at any stage of the customer journey.
Interactive tools: interactive tool can showcase what your product has to offer, or simply serve as a way to engage your target market.
Landing pages: good landing page content can be crucial to helping site visitors understand your products or service, see the value, and want to learn more.
Rich media (videos and podcasts): rich media is a popular way to interact with your target audience, and can be used across marketing strategies including. Seo, social, and ppc strategies.
Downloadable content: (ebooks, templates) gated downloadable content can work well to attracts prospect at the top or middle of the funnel.
2. Social media marketing:
Social !media marketing is a powerful way for business of all sizes to reach prospects and customers. It includes activities like posting text and images updates, videos and other content that drives audience, engagement, as well as paid social media advertising.
And with so many social media platforms available, and more popping up everyday, it’s important to know which ones will actually benefits your business.
It’s essential to focus your efforts. And so you should only choose one, maybe two social media platforms to interact on. If you went on choosing more than one social media without someone to delegate task to, you’re spreading yourself too thin. And your message will be lost. Let’s take a more indept look into some of our more popular social medias.
a. Facebook.
Facebook is a casual and friendly environment. Because of the huge presence of active visitors everyday. And you have to start by creating a Facebook business fan page. Facebook is a great way to really talk with your customer base in real time. When you post something. Its open for people to leave comments. Raise concerns and start conversations, as a business owner. You’ll be able to jump right into those threads and converse with your customers on topic that are important to them. Share ideas, photos and updates about your business with the goal to create a more personal relationship with your audience.
b. Twitter.
Twitter is the social media marketing tool that let’s you broadcast your updates across the web. Follow Tweeter’s in your industry or related fields. And you should get a steady steam of follower’s in return.
Twitter for business can be a great leverage tool because unlike facebook its primary focus isn’t to start a conversation. Or unlike Instagram is primary focus isn’t photos. But many business had get success on twitter with there witty comebacks to customers as well as competitors. Think of fast food chains ribbing on each other about the quality of their representative burgers. Twitter is a little more casual than Facebook and lends itself well to quick notes about your business.
c. YouTube.
YouTube is the number one place for creating and sharing video contents. And it can also be an incredible marketing tool, detailing cars and making soap have gone viral because they are satisfying to watch and the end results is worth sticking around for. Look into channels of other business in your industry to quage how well they’re doing on the platform and help you decide if it worth pursuing.
d. Instagram.
If you use your Instagram page to market your business, it’s important to be consistent in your posting habits. Thinks about the layout and look at your grind and have photos at the ready so you aren’t scrambling for content. Being prepared will let your customers know that you are about the way that you are about the way to present your business and lead to a higher-quality Instagram page. This can all increase the number of people who want to follow you, and engage with your content. Instagram also allows for influencer marketing, which can be a big benefit for the type of industry.
3. Paid marketing (paid-per-click).
Today, pay-per-click marketing is commonly used by a variety of businesses and organizations. Ranging from smaller companies selling goods, to political campaigns hoping to raise awareness about a issue.
If you want to grow your online visibility, drive traffic, generate leads. And increase sales. Pay-per-click (ppc) can help you accomplish all of those things.
What is ppc.
Pay-per-click is a digital advertising model where a business pays an ad publisher for every user click of their advertisement. There is no cost for placing the ads. The cost only incurred when users engaged with the ads.
If you are trying to branch out into a new target Audience or just gain a larger customer base, this could be a great channel to explore it’s essentially the opposite of organic traffic; but with the amount of use search engines get, it has the potential to increase our business potentially.
4. Emails marketing.
Email is a vital part of digital marketing, as allow you to communicates with those who have purposely signed up to receive communications from you. Whether that’s a newsletter, discounts or general information. However, its easy for people to get scammed through email, so design your emails in a way that let’s people know its actually you sending them.
While there are a number of small business in a broad range of industries that perform well and are continuously profitable, 20% of small businesses fail in the first year. 50% go belly up after five years, and only 33% make it to 10 years or longer. According to the small business administration (SBA).
Many of the cause of those business failures has been credited a lack of capital or funding. Retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives. Get very few has been mentioned about a lack of purpose.
I am firmly convinced that not understanding your “why” can bring about a upfront disaster to your business. Think of airbnb, Nike or Apple, what did all these companies shares? Apart from hugely successful, they all share a strong purpose. And this strong purpose tremendously contribute to there success.
It’s amazing how many business owners and their teams go through the motions of running their businesses on a day-to-day basics. Without understanding the purpose behind what they are doing. You might as well be a zombie. Business without a purpose don’t have heart. They don’t stand for anything, and as a result, they don’t stand out from other. Successful business owners both understand their purpose, and can articulate it from there team.
Right now, because of our vast option for choice, people instinctively want to be a part of companies that promise to change things for the better for them, and customers view purpose-driven brands as being more caring and, as a result, they are more loyal. To them, Core and porter noveli consumer research. Shows that 67% of companies with a purpose care more about them and their families. 79% said they’re more loyal to purpose brands. And 73% said they would defend them. Another 67% said they are willing to forgive such a company for a mistake.
As business owners and entrepreneurs, its time that we stop as “soft” concept with no input on the bottom line and look at the pitfalls of not entrenching a strong purpose within our organizations. It needs to be entrenched by the future processes of the company.
Because there is a difference between what you believe your purpose is. And what your company behavior suggest. Your purpose truly is.
When you develop good habit around money, you’re allowing yourself to have a long-term plan.
Is credit card the reason for this financial trap an inside?
Is the credit industry unfair to sign-up a credit card for your college child?
Is the credit card industry, at the root of this debt riding society will are living in?
All this are questions many are plundering upon. But the answers is No! Credit card are good and fair. Even without a trap in an indept poll of credit card debt.
When I heard some Good financial experts saying “cut off your credit card” I began to wonder how can somebody who couldn’t smartly use another peoples money, which if not use wisely will be paid with interest. How can you be smart with your own.
With all the credit rewards, credit card offered to our society. why should you cut off yours, cutting your credit card is not the cure of irresponsible credit habit. The problem still remains were it was.
Whether with credit card or not if you aren’t a credit winner you aren’t.
Using your credit card like if it were a debit card is the most important thing method of using a credit card. That means not spending more money than you have, and not carrying a balance monthly by just paying the minimum amount or only part of your balance. Which incurs interest fees the next month. Instead you should pay the balances off in full every month, which not only help you avoid interest but also means that you don’t end up overspending and wondering up in debt.
Why did people get trap with credit card debt.
The problem why people get trap with credit card debt, lies with the used and not the card. The consumer gets in all sorts of predicament because the usage of the card was nor properly observed. Here are reasons why a person could walk right into a debt trap with there credit card.
a. No actual money exchange hand.
As you make purchase using a credit card. You do not see actual money exchange hands, you need to keep tabs on your expenses to know if your income is enough to meet the payments once the bill arrives. After you have pay yourself, it’s important to know how much you can spend in your cards after you have credit your assets column.
b. They’re addicted to stuff.
People are paying bills on clothes they are no more wearing. It’s seems to many as “more stuff, more joy.” But that’s far from the truth. Stuff doesn’t make anyone happy for the long run. When you try to use shopping to calm your mood. Not long before you’ll realize you are far behind.
You aren’t what you own. And the little you own is enough. You don’t need to get the whole world to the confident. Why Every single person derive some joy from getting new things. Even those great advocates of “living below your means” you need now to focus on contributing to your asset column. So your asset can pay for the stuff.
But don’t be addicted to stuff, when you are not getting well with your emotion, look for help from experts or turn in to God’s word. Because the bible says “God word shall be health and medicine to all there flesh” not shopping on credit.
C. Enough credit card.
Most of us consumers started with one card. But not all of us stop at one. A lot of people are taking in a lot more and sometimes go away in over their head. Assigning a specific function to each credit card is a great idea but only if you can be financially matured to handle multiple credit cards. If not, it is better to stick to one card.
Some consumers assign a specific card for purposes like e.g groceries, gas and other items. This is a budgeting tool that allows them to see how each cost item is being used through the credit card. This is useful but requires a lot of restraint and deciplines. Restraint from using credit card just because you feel like it and discipline in using the card for specific purposes only.
D. They don’t make there budget a priority.
Been fiscal responsible, doesn’t only mean tracking your expenses after they’ve already happened. You have to get a budget and make it a priority to steak to it.
When you don’t shop according to budget you’ll roundup left behind especially when it is order peoples money through credit card. I know spending according to budget will take a lot of fight within. Because changing your lifestyle is not always comfortable at first. But the end results always tremendously worth the effort. So make it a priority to always steak to budget no matter what.
E. Major life change:
Major life changes effects the finances as well. Getting married, expecting a baby, moving houses, and other big ticket items purchases can have an effect on the personal finance of the consumer even up to their credit cards. But has said before a good monthly budget can do well to put you on track. It Is better to be able to anticipate and plan your budget around the new chapter your life will be taking.
How to break your bad money habits, and stop cutting your credit card.
As said earlier. Cutting credit card doesn’t solve the problem, because if you are not conscious of spending another person money that must be paid back, “even with interest” you can’t get your own secured.
And there has always been some set of bad habits, that make every fiscal irresponsible people what they are. And breaking those irresponsible habits has to be your first step before developing new healthy habits.
And there are three steps that can help you break off any wrong financial habits.
Recognize the habits.
Out what triggers the bad habits.
And lastly find a better habits for your financial situation to replace the old bad one. Then practice, and practice again. Just keep doing it until it becomes automatic, without becoming discouraged by failure along the way.
Passive income is when you continue to get paid after the work is done. It includes royalties from books movies or songs. It’s also revenue that comes from real business investments when you don’t have to be present to earn it.
Passive income streams require an upfront investment and a lot of nurturing in the beginning. After some time through hard work these income streams start to build and are able to maintain themselves, bringing you consistent revenue without much effort on your part.
Passive income includes regular earning from a source other than a employer or contactor. “Many people think that passive income is about getting something for nothing,” tresidder says. “It has a ” get rich-quick appeal… But in the end, it still involves work. You just give the work upfront.
If you want to get started earning passive income here’s what you should know first.
Passive income requires some upfront monetary investment.
Or upfront time investment.
Here’s a list of quite a few passive income ideas, so it’s likely that you’ll be able to find at least two to three that will work for your situation.
1. Put your photography to work on the web.
Do you like photography? If you do, you may be able to convert it into a passive income source. Photography websites such as shutterstock and Istockphoto can provide you with platform’s to sell your photos. They may offer either a Percentage or a flat fee of each photo that is sold to the site client.
In this way a single photo could represent a cash flow source since it can be sold again and again. You simply need to create your photo portfolio, put it on one or more photo platform’s, and then the activity becomes completely passive. All the technicalities of photo sales are handled through the web platform. And yes, that’s me in a stock photo, you can purchase from Istockphoto. My good friend is a photographer that has uploaded a few hundred photos to their platform and makes a good residual income from it.
2. Investing in business.
Another way to generate passive income is to invest and be in a business for yourself. This is very risky for some persons.but with the risk’s come with potential high returns. For example, several years ago both lyft and uber were looking for private investors to invest in there companies. Today they’re worth billions. But you as an investor will only reap that benefit if they go to public via an IPO, or get acquired, so it’s risky.
But there are ways to reduce your risk. And that’s to increase your financial education in this particular aspect. So that you can see the future of the company you are trying to invest in.
3.invest in real estate:
This probably falls more in the category of semi-passive income, since an investment in real estate is always at least a little bit of an active venture. Still, once you have a property that is established and fully rented, it’s mostly a matter of managing the property and keeping it performing well.
Now, there are Lot’s of Way’s to invest in real estate, which will just look a little on then and take more a closer look at owing rental properties and why it’s such a popular way to earn passive income.
a. Crowd funded real estate:
Real estate investing used to be seen as the preserve of the wealthy, but crowd funded real estates sites want to bring it to the public at large.
Peerstreets: is a marketplace to invest in high quality private real estate low minimum investment is just $1,000 but you must be an accredited investor. You can set parameters to customize your investment. A investment made with peerstreet are a real estate loan and not an investment in the actual real estate.
Reit: a REIT is a real estate investment trust. (Think of a REIT as a mutual fund for real estate investing. You can invest in real estate the same way you can invest in any other Industry. By buying stocks. When you own stock in a REIT, you earn a share of the profits produced by the real estate investment. It’s a way to invest in real estate without the hassle of being a property owner.
Rental real estate: this is the KING, Rentals properties can be great source of passive income once you get rental-up and running. And you can have to invest all with your money. To me it’s artistic. You invest with other peoples money. Hardly for banks to borrow you money to invest in peerstreets or real estate investment (REIT), but you can get leverage of 80% to 100percent finance from either banks or seller. People has create tremendous wealth through rentals real estate investment
How much to spend: now, hear me out on this; if you’re out now to invest in rental property, the truth is that there is a bit risk in all investment, but you can minimize your risk through information. First invest in real estate education, go to your local book shop or amazon and buy books on real estate. Listen to podcasts and take course. The amount you spend on your education will help you minimize the amount you could have lose in the market.
4. Earn a passive income running a e-commerce site.
The level of difficulty depends on what you’re selling. If you’re making things yourself, it’s harder than reselling already existing items.
You can be earning passive income from an online store, if that was your purpose of building it. Whereas most online stores are built to require the owners constant, and active participation. (Packing, and shipping the product for example) ecommerce can be made very lucrative and passive in so many ways.
a. Affiliate marketing:
This consist of promoting other peoples product, and when sales is made you will received a commission. It is best to promote a products you actually love.
b. Selling products physically stocks:
This only requires your implication if you make a sale. What I did at the time was I listed in-demand, nonperishable products from the grocery store. I only had to go pickup, pack and shipped the product once they were sold.
C. Dropshipping:
If you want to sell a product you don’t have to handle, them dropshipping is the way dropshipping consists primarily in selecting and promoting products that are offered by a fulfilment service. The fulfilment service stocks the products and ships them directly to the client once the sales is made.
D. Selling your own products:
Selling your own products may be a bit trickier because you will have to create the products and deal with support. To make your sales process as passive as possible, try to focus on creating evergreen products (things that will be relevant in 5plus years from now.)
Or it can also be digital goods that are created and bundled into a file and sell as a digital good.
Shopify: if you want to build an online store, shopify makes it easy. They also have a lot of tool to help you run your business, you can create coupons and promotions, process payments, and handle returns.
5. Create a course on udemy:
Udemy is an online platform that let’s it’s user take video course on wide array of subjects. Instead of being a consumer on udemy you can create your own video course, and allow users to purchase it. This is a fantastic option, if you are highly knowledgeable on a specific subject matter. This can also be a great way to turn traditional tutoring into a passive income stream.
If you want to get started on udemy. You are not alone this below process can help you get started.
a. Choose the right topic:
You can either pick a topic which you are specialized in or you can check out the popular courses which are available on udemy and choose a topic accordingly, in both the cases, you will find numerous available courses on udemy. Watch, learn, analyzed and think.
b. Pick a captivating title:
A catchy short and descriptive, title is crucial, and also decide how you will break down your lessons and pick a titles for each section accordingly.
C. Decide the format for the body of the course:
On udemy, you can teach in different formats: text, video, presentations, audio, document, and mash-up, mash-up(video and presentation) is the most recommended of the formats.
And also set out a plan on how you will break down all the lessons and pick a title for each section accordingly.
6. Start a blog:
We wrote this article to make money, and the way to do this is by providing value to your readers. Which drives traffic to your site and then monetizing it with affiliates links.
Remember, the more niche your website and topics are, the better. When you’re building for residual income, the less competition the better.
We know that passive income is the money you earn passively and regularly from your blog without trading hours for dollars. Now let’s talk about how to actually set up a systems and earn passive income from your blog.
a. Running ads on your blog.
It’s relatively easy for bloggers to place ads on their website and earn some ad income from them. Initial set up is usually quick and easy, and you can start earning some pocket change even with a low number of page views (with some ad networks.)
b. Selling your own digital products:
Creating and selling your own digital products is one of the way to earn passive income through blogging. It might sound daunting at first, the ideas of creating and selling your own digital products online. But believe me, you can do it, and it can be very rewarding.
C. Affiliate marketing:
With this passive income stream, you promote products and services for other business on your blog. And when someone makes a purchase through your trackable link, you get paid a common.
7. Write and self-publish a short book on a topic you’re passionate about.
If you prefer the written word and you’re knowledgeable about the topic, you can simply turn that warehouse of information into a short book. Then self-publish that both on the kindle and in print via amazon, or via your website or blog.
You don’t have to have a degree in literature. Considering all the education we have to go through college and beyond and all the research papers and writing projects we’ve had to complete. I bet all the writing you’ve done in your life would add up to at least 20-30 books. Maybe more but you never organized any of it into a book format. Writing a book is simply learning to Be a little more structured in what you’re writing about.
In your first book, you’ll want to aim for somewhere between 30,000 and 50,000 words of text for a shorter book, and the best way to delve into a project like this is to organize the entire things like a giant outline. Consider what five to 10 main points you really want to hit home, put an introduction and a conclusion at the beginning and end. Then start break down each of those sections.
After the writing editing and the formatting you can visit Amazon kindle publishing website and you’ll see how to publish your eBook.
You’ll be able to set price at some point and depending on how much you change will effect how large of the royalty you’ll earn per sale. Amazon has a 35% royalty and a 70% royalty they pay per book sale so check out the price requirement for each.
8. Start a YouTube channel.
Whether you review products, give your opinions on local events or perform entertaining work, there are many ways to earn income passively through a YouTube channel.a tripod), good lighting, some good video editing software https:
Credit card fraud is all too commonplace,and identity thieves method can range from high-tech data breachers and internet scans to old-fashioned stolen mail.”
It would be one thing if your young once use your credit card to order pizza without asking. (You can ground him). But what if something entirely different happen? Like a complete stranger use it for a big screen t.v?
How !many times have you spotted unfamiliar transaction on your credit or debit card statements? Even once of many time right? Credit card fraud can be uncertain because most time will don’t really know how it happens. That is why in today’s information age. Your credit card information is at risk for theft, fortunately, you can try to avoid credit card Fraud by keeping your credit card information extra safe.
How did they get your personal information.
Targeting retailers is only one way internet thieves can get access to your personal information. Once, penetrators of creating card fraud used simple strategies to gather and disseminate our information, but improvement in technology have forced them to switch gears and improve their own processes over time. With technology taking the place of receipts and records in most places, modern crooks now turn to the internet for their bounty.
During the last few years, huge security breaches have taken place at retailers, such as target, Michael’s, P.F Chang’s and many more, during the target data breach alone, as many as 70 million customers had their data exposed, often with drastic consequences.
According to Washington post, expert interviews. The target data breach allowed crooks access the name, addresses, and credit card numbers of millions of customers.
But in order for fraud-stars to get your name, address, social security number, and financial account information, they don’t stop at targeting retailers. They have come out with several ways and process to get your information. From any of the above means.
Stealing pause, wallet, and mails.
Stalking on social media and send phishing emails.
Attacking a “skimming” device to an ATM card reader to your information.
Getting access to electronic databases that contains customers information.
Protecting yourself today from credit card Fraud.
Once your most personal financial information get in this wrong hands. The Skye is the limit. From contacting your creditors and change your mailing lists, to apply for and open new credit card accounts. And talking the best holiday credit card can afford. Not only can they on lavish spendings, but with the right information. They can even file taxes and secure a huge refund in your name.
But taking at heart how sophisticated this crooks are, you may feel defend-less how ever there are few things you can do to maximize your chance of failing victim to this wrong hands.
1. Keep credit cards and card information safe from thieves:
Keep your credit card safe by keeping the pulse. Or wallet, close to your body. So that they can’t be snatched away in high traffic areas. It’s better to carry a smaller pulse because its a smaller target.
Never expose your card longer than necessary. Remember that thieves can takes pictures of your credit card with a camera or cell phone, when the purchase is made. Put the card away immediately. And always make sure you have the credit card at your possession, before leaving the store or restaurant. It’s easily misplaced and can be very damaging if that information is exposed. Even for the short time.
3. Protect your mail.
It’s smart to have trusted friend, neighbor or family member pickup your mail daily, when leaving town, or get it held out at the post office.
Or refrain letting everybody around, know you are out of town. By not posting vacational pictures, on social media like Facebook. Such doings may alert wrong crowds that you are not at home.
3. Be smart at shopping online.
If you enjoy shopping online, make sure your computer is safe. Install reliable and automatically updated virus software on your computer and be sure a secure wireless network.
When paying online, make sure the website is secure by looking for “https” at the beginning of the web address, and use passwords that are at least 10 character long.
4. Check statement and receipts closely.
Sign of credit card fraud is usually seen through unauthorized charges. If you noticed a charge you didn’t accrue (no matter how small), report it immediately to your credit card issuer. The company can tell you whether to close the account and get a new account number.
When you receive your credit card bill, go over it carefully and reconcile the charges, like you could do with a bank account.
When you receive a credit card bill, go over it carefully and reconcile the charges, like you would with bank account.
Always verify the amount on your credit receipt before signing it. If there are blank spaces, write $0 in those spaces or draw through them before signing. Be sure to store all receipt in a safe place.
5. Take advantage of federal liability protection.
The fair credit billing act limits your liability to $50 in event of credit card theft. Some banks, will even walve this amount when you provide additional documentation regarding the theft.
If you see unknown transaction on your credit card statement, but still have the card, it may have been cloned. You have to report such transactions.
6. Check your credit report regularly.
The fair credit reporting act (FCRA) entitles you to a free credit report from each of the credit reporting agencies once per year. You can order three reports at once, or rotate your request to receive a new credit report every four months.
The only official site for obtaining free records is Annual credit report. Or you can also call(877)322-8228 to order a free report if you would rather not do it online.
What if you are a victim of credit card fraud theft.
If you become a victim, there are several steps you can take to minimize damage and protect your identity going forward. These tips can help.
Contact all our credit card providers. The faster you alert them the easier it will be to limit the damage.
Place a credit fraud alert on your credit report: you can do this by contacting, experian, Equifax, or trans Union. And requesting that a credit fraud alert be added to your credit file, those companies will pass the notice onto the thee two agencies, and creditors will know to be on the lookout for suspicious activity.
File for police report: making local authorities aware of an instance of credit card fraud can help prevent more occurrences. You will LSO want a copy of the report to use when filling notices with credit agencies and credit card providers.
Freeze fraudulent accounts: you will have to call all the
According to a recent research paper from the San francisco federal reserve. Real estate has historically generated rates of return comparable to stocks and equities with much lover volality.
Real estate returns are largely not correlation with stocks or bonds.
It’s true that more and more billionaires has amazed great wealth through real estate investment. Even Forbes magazine, confirmed that billionaires has amazed more wealth through real estates. But business stand on his own.
The combination of a consistent cash, stream, capital appreciation, and tax breaks has helped lay the foundation of great fortunes and stable retirements. But billionaires aren’t the only one who know how to invest in real estate. Every one else can do it. If only you learn how.
All start with finding the best deal.
Real estate can help you amaze great wealth, to retire at any age you wish. If only you are a sophisticated investor. And sophisticated investors were not born sophisticated. It take them years of study and experience, to turn another persons worst investment to a cash printing machine. All those billionaires has one thing in common that help them receive in those huge amount of passive income.
No matter your goals, your experience or where you you are in your journey, the first step to being a successful real estate investor is learning how to find and see the best deals in your local area. If you can do that, you’re well positioned for success, now and in the future.
One of the biggest differences between the “average” investor and those who has take is to the next level financially through real estate. Has been, knowing were to look. And seeing the right thing, both of us can look at same thing and see differently, depends on were our mind is! Because you don’t just have to look when finding a deal, But seeing with your mind eyes.
Whether you will lost money on a property. Or make money, it all began with great deal. (An not saying is all but it’s the first step).
1. Consider buying a bank-foreclosed property.
A foreclosure is a home that’s under the control of a bank. People foreclosed on their homes when they can no longer make their payments. When someone fails to pay a mortgage payment for an extended period of time, the lender will ultimately repossess the home and remove the occupants. Once the home is empty. The lender generally list the home for sell in the market.
One undeniable benefit of buying a foreclosed home is lower prices. Bank doesn’t want to keep a real estate property, they are not “real estate investors” so they don’t want to manage a property, in fact. Most properties that house the bank is not own by the banks. That’s why they are always eager to sell than a traditional flipper. Who can only make a profit if the home got sold high.
2. Consider driving around.
Driving around your neighborhood could be all you need to make your first property investment. While driving around, apart from checking listed properties, it would helped if you kicked it a notch higher and considered absentee property owners.
Therefore, one of the best tactics real estate investors use today is to look outside your multiple listing service and instead contact owners directly. Asking them to consider selling at any given time, a good percentage of the population will entertain that option, so why not reach out before they list the home with a real estate agent?
When driving around one of the best kind of people to target is absentee owners. They might be landlords (who hate there tenants) or owners who who inherit the house and is simply unsure what to do with it.
Online search is the go-to for most users, but that won’t get you that far. Driving around looking for house that look vacants can help most.
Expanding social and professional networks, regardless of the industry, enhances your success rate affiliation with the top real estate agency Hanover providing an extensive reach, allowing you to score incredible deals.
When talking about networks, though real estate agents should be your core targets. But it can be great to expand your networking other professional like, real estate wholesalers, property managers, mortgage brokers and renders: real estate attorneys and other real estate investors. You’ll never know who might become your source of deals for real estate investing if you are a first time real estate investor. Don’t be afraid to put yourself out there as networking becomes easier with time and practice.
Final through: what is life like in the neighborhood.
Take a drive around the neighborhood to see if any other properties are for sale. Is everyone looking to move out? Or is everyone looking to move in? This information is key not only for investors but also for buyers who might want to wait things out and see what other opportunities arise in the area.
Be sure to do some digging into the value of the homes throughout the neighborhood, too. This will help you determine what is a fair price for the home you are looking to buy.
Lets hustle 