The secret to being a successful entrepreneur

The secret to being a successful entrepreneurHow often do you hear people say that they’d love to start their own business and become an entrepreneur?

People will tell you that they’d love to be a success in business, making a difference in peoples’ lives with great products and services.

Then they’ll add the caveat that unfortunately, the time’s not right for them at this moment. One day they’ll have a go but their circumstances won’t allow it at present.

However very few of those who say they’ll have a go, will ever actually have a go. They don’t really have the desire and they probably don’t understand the secret to being a successful entrepreneur anyway.

The only way to get rich:

As an entrepreneur, success is measured by the money you make. Let’s face it starting any business is all about making money for the owners. Otherwise, why would anyone bother?

And starting your own business can be a fantastic thing to do and, for most people, it’s the only way you’ll ever have the chance to make some serious money.

Certainly, you’re unlikely to get seriously rich working for someone else.

However, to succeed in business, first, you must get started.

The critical ingredient to success in business is getting off your butt and actually doing something about it.

And the best time to do it is now. Last year or the year before might have been better but otherwise now is always the best possible time. It’s simple really.

The secret to making money:

Getting off your butt is one thing but how do you make money as an entrepreneur? Well, dear reader pull up a chair and listen carefully for the secret is very simple.

The secret to making money as an entrepreneur is to solve problems for people. To make their lives easier in some way.

Solve problems; make money:

Every product you sell must solve a problem for the customer.

So if you can identify problems for which people need a solution and if you can offer those solutions, otherwise known as products, at value for money prices then you can make money and you can be successful.

Remember this too; you don’t necessarily have to be the first with a solution either. If you can improve on an existing solution in some way then you can still make some serious money. If you can ‘build a better mousetrap‘ then people will buy it.

For instance, Steve Jobs and Apple were not the first to offer cellular mobile phone handsets, and nor were Samsung. Yet these two companies both dominate the market for smartphones right now.

The secret to being a successful entrepreneurMake a difference:

Has your appetite for business been whetted, dear reader?

Do you have any ideas you think might make a difference?

You do?

Then you have to be prepared to take action. Having ideas means nothing unless you take action.

Ideas are ten-a-penny. Plenty of people have good ideas that never see the light of day.

Occasionally people will have good ideas but just leave it all too long and then someone else comes along with the same idea and makes serious money from it. That’s happened to me. I came up with a great idea for a teeshirt slogan. Failed to act and someone else came along with the same idea and it’s currently a best seller on Amazon. My loss; their gain.

Having ideas is easy. Implementation is the tough bit and there are too few people with the drive and determination to turn a good idea into a business opportunity and then make money from it.

So you must take action if you want to be a successful entrepreneur.

Not tomorrow; not next week; not next year; but right now.

Become a ‘doer’:

In my experience, true entrepreneurs are doers, they’re not dreamers.

So go on, get started right now.

Solve people’s problems and you’ll be on your way down the road to riches. It can be done and people do. And so can you! Go for it.

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8 Top Business Tips for Success Today

Business Tips for SuccessBusiness tips for success:

I read an article recently about a guy with a college degree who was feeling disillusioned because he couldn’t find a job. At least not one that met his expectations relative to the type of job and income he felt his degree merited.

Well, it’s a tough world out there, as I’m sure you know only too well dear reader, and despite what some people may think, the world doesn’t owe us a living. The world owes us nothing and it’s down to us to make a life for ourselves.

Work is just doing stuff for other people in return for money and there will always be people with stuff that needs doing. So rather than seeking a job, perhaps we’d all be better off if we focused on seeking customers for the services we could provide.

That’s at the heart of what business is all about, providing people with solutions to their problems for profit, and there’s much to be said for becoming an entrepreneur.

So today let’s explore some business tips for success for entrepreneurs.

The advantages of self-employment:

There are many advantages to being self-employed.

For instance, not having to deal with office politics is a big advantage for a start.

And of course, being the beneficiary of all of the proceeds of your hard work is another good reason.

Instead of making a lot of money for other people, you could be making it all for yourself. The harder you work the more you make for yourself too.

Unless you’re a lawyer or an investment banker, the chances are the only way you’ll ever make serious money is through building your own business. Building a business that one day you’ll be able to sell for a lot of money.

However, remember this; you might think that if you’re self-employed then you’re your own boss. Well, that’s not true. The customer is the boss, always.

Serve customers badly and you won’t be serving them for very long, that’s for sure.

The first rule of business is that you must know thy customer.

You must gain a deep understanding of the products, services and marketing that will appeal to your target customer.

One size will not fit all and each market will require a different approach.

Now going into business is not for the faint-hearted. You must be prepared to work very hard, at least in the early days, when you’re trying to establish your business.

However, if you can provide your target customers with real solutions to real problems then you can make serious money.

If someone else is already offering a solution to the target problem then your solution must be better or cheaper than theirs in some way if it is to sell.

Creating great products and offering great customer service is the route to business success.

However never forget your reputation and image. These things matter too.

Make sure you create an image that will appeal to as wide an audience as possible. Running your own business will be a challenge but it can also be extremely rewarding, both financially and in terms of a sense of achievement.

Remember also that running a small business is not a whole lot different to running a large business. The only real difference is one of scale. The key issues are always the same.

So here are some top business tips for success for would-be entrepreneurs:-

Top business tips for success today:

1. Control your costs:

Of the many business tips for success I could suggest, none can be more important than keeping an eye on the money.

Money comes into your business and money goes out. It’s that simple.

However, if you fail to ensure that the former is always greater than the latter, at least for most of the time, then trouble will follow at some point, whatever the size of your business.

A bigger business might be able to weather the storm a bit longer but the consequences of expenditure consistently exceeding income will be the same. Keep losing money and eventually, your business will go bust.

Take every opportunity to maximize your revenue and always keep your costs as low as you can. And never, ever lose sight of cash flow.

Don’t spend money unless it is absolutely necessary.

Ask yourself, do I really need to spend this money? What will I get in return? Can I achieve the same result at less or even no cost?

It might surprise you to learn how frequently it is possible to avoid cost, whilst still doing all the things big businesses do.

The key message here is that you must keep an iron-grip on costs and you must manage cash flow carefully.

2. Do your own market research:

Every product should solve a problem for your customer and you should have some idea of what that problem is and how your product will solve it relative to other products offered by your competition.

Just because you think you’ve got a great product, doesn’t mean customers will see it that way. Your opinion means nothing if there are not enough people willing to buy your product at the price you’re trying to charge for it.

If your product won’t sell then potentially your business could be in trouble.

Perhaps you think you’ve spotted a gap in the market?

If it’s a genuine gap then you might be on to a winner. However, a gap in the market doesn’t always guarantee that there is a market within that gap. Maybe there’s a reason for the gap which you’ve yet to understand.

In business, the trick is to find out what people really want and then offer it to them.

How do you find that out?

One very good way is simply to ask them yourself.

I’m not referring to your family and friends here. They’ll be far too polite to give you any meaningful feedback.

You must talk to real customers, if and when you have them, and potential customers.

You can conduct some of your own market research in your local shopping mall or wherever you think your target customers might congregate. And don’t be shy. Only by actually talking to people can you confirm whether your ideas have real potential.

So, identify some basic questions, stand there with a clipboard and just start asking people, as politely as possible.

Often they’ll be far more helpful than you might expect.

And don’t forget you can always use the Internet too.

Search engines like Google have keyword search tools that are free to use. These tools allow you to get a ‘rough and ready’ measure of what people are searching for and how frequently.

And don’t forget social media. Facebook and Twitter, for instance, can be great channels for asking questions, so you can gauge what people think.

Market research doesn’t have to be expensive. As a small business entrepreneur, it is possible to do it yourself. You don’t have to spend a lot of money on this activity but it’s essential that you do it.

Your results might not be quite as scientific as those produced by the professional market research people, but they will provide you with a rough guide and that’ll probably be good enough in the first instance.

3. Advertising costs money: is there a better way?

Another of the most important business tips for success has to be visibility. I cannot stress highly enough that visibility matters, both for your business and your products. It’s absolutely crucial.

Your products might be the best in the world but they won’t sell at all if potential customers have no idea they exist. Surely that much is obvious.

The question is, how does any business ensure that customers have visibility of its products? The obvious answer is advertising of course.

However, media advertising can be costly, and it’s a cost that new businesses often cannot afford.

One small advert in the back of a glossy magazine can cost you a lot of money and yet you have to ask yourself whether that would be money well spent?

How often do you notice the small advertisements in the back of a magazine? In my case, the answer is not very often.

With so many advertisements competing for my attention, I tend to filter them all out. I’m willing to bet that you do too dear reader.

So, if you’re not careful, money spent on advertising can be money wasted in my experience.

A better approach might be to use some creative thinking with a focus on public relations.

Smart entrepreneurs know that business is show business. It’s all about getting noticed.

For example, the entrepreneur Richard Branson is a brilliant exponent at getting media attention at little or no financial cost to his business.

It helps that he’s a likeable guy of course but he’s also clever and creative in his approach.

If you have an interesting back story perhaps the local press, local radio or even television might be willing to run a story on you and your business and the products you have to offer?

Social media can be a powerful medium for gaining attention for your business too.

Social media is also a useful way of driving traffic to your company’s website, particularly Pinterest which is an incredible tool.

Then there’s using search engine optimization (SEO) techniques on your website content to ensure you drive traffic to your site from the search engines.

Let’s face it, you do need to appear on the first page of a Google search if there’s to be any chance of anyone noticing you and your business through search queries. So, if you can optimize your website for SEO, then you can get enormous amounts of traffic from Google and other search engines, like Bing and Yahoo.

Make sure you offer visitors to your company website the opportunity for signing up for a regular email newsletter. And give them an incentive to sign up.

This could be a free report or perhaps a discount code for one of your products.

How about running a competition using your company’s fan page on Facebook or your company website?

The price of say a smartphone or a Kindle or other desirable electronic device as a prize would be cheaper than the cost of a small advert in a glossy magazine but it’s more likely to get noticed and it’ll probably generate a lot more excitement.

If you have a car or van; don’t forget that it can be emblazoned with your company logo, your website details and product information on the back, sides and front. Even on the roof.

It would be free advertising as you’re driving around.

Park your vehicle at a big event attended by thousands of people and you’re beginning to master the art of guerrilla marketing.

The bottom line is that creative thinking and public relations can produce powerful results in your quest for visibility at a fraction of the cost of advertising. The key message is; be creative.

4. Don’t make yourself indispensable:

The biggest mistake any entrepreneur or business manager can make is to think that every decision should be made by them.

If you’ve started a business from scratch you tend to form an emotional bond with it. It becomes your baby and you become very protective of it.

That’s natural of course but as the business grows you’ll have so many things to do that you couldn’t possibly do them all.

You could try, of course. However, if you try to do everything you’ll find yourself falling behind in key areas like product sourcing, sales and keeping your accounts up to date.

Fall behind, and it becomes very hard to catch up. Potentially it is also very damaging for the business.

So you have to learn the art of delegation.

A good start would be to document every task and process within the business and then create an Operations Manual. This can include everything from the preferred method for answering the phone to completing invoices and dealing with complaints.

It can also include the degree of flexibility which you are delegating to staff, so they can get on with basic tasks allowing you to get on with those activities which are much more important for achieving business success.

No business should be dependent solely on one person.

If it is and that person gets seriously ill or has an accident then obviously the business would be in trouble very quickly and it would struggle.

Delegate basic activities to your staff and you can be sure that the business will continue to function even when you’re not around.

It will also give you a bit more thinking time for steering the company towards bigger and better things.

The key message here is that you must delegate. Never delude yourself into thinking that only you can do a particular task.

5. Charge sensible prices:

If you’re to earn a decent income then any list of business tips for success must stress the importance of knowing the value you can add and know your worth too.

It’s easy when you’re a small business to undervalue your products and your time. The result is that you undercharge for what you have to offer.

This is particularly true when professionals are selling their expertise and time on the basis of a consultancy arrangement.

It’s common for first-timers to lack the confidence to charge what they might perceive to be a high rate for their services.

The problem is that selling things cheaply can be counter-productive because customers then think they’re getting an inferior product or service and can be put off.

It is a fact that price can often be used as a proxy measure for quality when your business is being judged.

You have to be very business-like when considering the pricing of your products and services.

So look at what your competitors are charging and then analyse where you think your products and services fit into the market.

If you struggle with that idea then you can always seek guidance from someone else, like a fellow business owner or your accountant.

However, you must always remember that you must believe in your products and services. If you don’t then why should anyone else?

You must project confidence.

If you don’t have the courage of your convictions then the chances are that your business will never succeed.

Believe in yourself and charge what you’re really worth. Sell yourself on the basis of the value you bring and the value you can add.

6. Make the best use of technology:

Sometimes small business owners think that because they are small they can only act in a small way. However, that can be a mistake.

Don’t be afraid to invest in your business. For instance, investing in up-to-date technology like the right phone system and websites do not have to be expensive but they can be the difference between a customer contacting you or not.

These days no business, large or small, can operate without a website.

And that website needs to be as user-friendly as it possibly can be.

Make sure your website provides customers and potential customers with the opportunity to sign up for a regular email newsletter. And as suggested earlier, offer them an incentive so they do sign up.

Ensure also that your telephone system allows customers to reach you at their first attempt. Certainly, customers won’t make too many attempts to call you before they’ll simply go elsewhere.

If you don’t know how to do all this yourself then go on a course or seek guidance from someone with the right expertise.

Good communications will pay handsome dividends over time.

7. Set goals:

Another in this list of business tips for success, that I want to really stress here, is the importance of goal-setting.

You have to know what it is you’re trying to achieve if you’re to have any chance of successfully achieving it.

Never set your sights too low either. Set yourself a challenge and then put all your energy into achieving it.

Once you’ve set a goal then you need to establish a plan as to how it is going to be achieved.

For instance, if your goal is to achieve a certain level of turnover over the next year, you have to break that down into the small steps you will need to take for it to be achieved.

How many sales will you need to achieve each day, each week and each month?

What implications will those sales targets have for production?

Do you have enough sales staff to generate that amount of business?

And so on.

Always create a plan and review it regularly making adjustments as and when necessary.

8. If you got a great idea then do something with it:

How many great ideas never see the light of day because the person with the idea fails to do anything about it?

And how many times does someone with an idea see someone else come along with the same idea and beat them to market?

Let me give you an example. Two years ago I thought up a great idea for a teeshirt slogan. However, I was busy and so in the end I didn’t do anything about it. Fast forward two years, and the other day I noticed one of the best selling teeshirts on Amazon was one bearing the slogan that I’d thought up.

Someone else had the idea too, but they actually did something about it. And they’re now benefitting from the income generated. From my standpoint, great opportunity missed.

Procrastination stops many entrepreneurs from cashing in on a great idea. Don’t let this be you.

If you’re waiting for the perfect time to do anything you will be waiting for the rest of your life.

Now is always the perfect time to start.

Don’t wait until you think the economy will be better or your children have left home or some other arbitrary barrier.

The right time to start your business is right now.

So go for it. Yes, you’ll make mistakes. You won’t get everything right the first time. You won’t become an instant millionaire either.

However, by getting started you’ll be heading in the right direction and you’ll learn along the way.

Hard work combined with implementing good ideas will get you there eventually.

Business Tips for SuccessConcluding Remarks:

I hope these business tips for success prove useful to you dear reader.

However please note, this blog post was not intended to be a comprehensive guide for entrepreneurs.

You’ll find many excellent books on the subject and I recommend that you make a point of reading as many of them as you can because educating yourself is always a good idea. It doesn’t have to be formal education. Self-education can be just as good in practice. And then, of course, you can start creating your own list of business tips for success.

And the best form of education in my experience is to learn by doing. You will make mistakes but the lessons learned from those mistakes will be far more valuable to you than anything anyone can teach you in a classroom.

Being an entrepreneur can be a roller coaster ride but it can be a fantastic and enriching experience too. So if you fancy it, go for it.

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Why an investment in knowledge pays dividends

KnowledgeAn investment in knowledge pays the best interest. ~Benjamin Franklin

You don’t get paid for the hour; you get paid for the value you put into the hour. It’s important everyone understands that important distinction dear reader.

You get paid for the value you add.

The more value you can add the more you will get paid.

It’s really that simple.

If you can solve problems for people with the skills you’ve got, then you can earn an excellent living.

The question is what underpins your skills and your ability to add value? The answer to that question would be knowledge, of course.

Knowledge comes from learning and learning is a lifelong process.

The quote at the top of this post from the venerable Benjamin Franklin reminds us of the importance of learning. Learning is an investment in ourselves.

We all have enormous capacity to consume and retain knowledge in our heads and that knowledge is then a currency with which we can trade. The more knowledge we have the more value we can add.

When it comes to investing, nothing will pay you a better dividend than making sure you have a good education. And I stress, it’s a lifelong process. It doesn’t end when you leave school or college.

And it’s not about whether or not you went to college or university. Important as they may be, learning can be achieved in many ways.

Knowledge can be gained through reading books; listening to audio and video tutorials, and challenging yourself to master anything that appeals to you. Learning from hands-on experience, making mistakes and learning the lessons you can take from any mistakes you’ve made.

In particular, if you want to master the game of money and all matters financial then you need to become a seeker of financial knowledge and know-how.

You need to become a reader and a keen student of finance. To be successful in investing, of course, you really need to know what you’re doing. You need financial education.

Ignorance can prove to be very costly indeed. And that’s true in every aspect of your life.

Getting an education may seem expensive but it’s nowhere near as expensive as ignorance.

So, if you’re not already, become a reader.

The investment in yourself is well worth the effort and it’ll pay you a handsome dividend.

As the late, great Jim Rohn once said, “Work harder on yourself than you do on your job.”

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Public Speaking: The Power of the Pause

Public Speaking_The Power of the Pause

Today I offer you a tip for public speaking: the power of the pause. This is a great tip from Brian Tracy.

If your aim is to be successful then mastering the art of public speaking is an essential skill you must develop.

If you’re a successful, high profile individual you can’t avoid speaking in public, at least occasionally. However much you might try to resist it I’m afraid it’s like trying to hold back the tide. It can’t be done.

However, I recognize that public speaking can be a bit daunting even for people who are otherwise quite confident.

So if you lack confidence in this area then don’t worry. You’re not alone I promise you. Most people feel just like you do when they find themselves standing in front of a crowd faced with the expectation that they’ll be able to say something meaningful and present it in an interesting and engaging way too.

Key to being interesting is developing your public speaking technique. The more you practice and develop your technique the more confident you’ll feel when you step up to the lectern.

One way to improve your public speaking technique is to learn from some of the best speakers around and then copy what they do. And Brian Tracy is an excellent speaker worthy of study. Personally, I find him both interesting and inspiring.

So if Brian has something to say then listening to him is worthy of your time I believe.

In the short but excellent video embedded with this post, Brian Tracy offers some useful advice on the subject of public speaking. In particular, using the power of a pause to emphasize or reinforce a point being made.

An important element of public speaking is making sure that the underlying messages resonate with your audience. If they take away three or four powerful messages then you’ll have done your job and done it well.

If you want to improve your public speaking skills then I recommend you watch this video.

You’ll learn some helpful tips, as well as one of the little known secrets used by top public speakers.

Once again I must say, Brian’s short video is well worth a few minutes of your time.

Public Speaking: The Power of the Pause

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15 Quotes by Steve Jobs to energize you

Quotes by Steve JobsSteve Jobs was an American entrepreneur and best known as the driving force behind the success of Apple Inc. Together with Steve Wozniak, he was a pioneer of the microcomputer revolution of the 1970s and 1980s.

Famously he dropped out of college and proved, if proof were needed, that you don’t necessarily need qualifications or a college degree to make an impact and leave a genuine legacy to the world.

What you need is passion and a desire to do something well and to do it better than everyone else. And Steve Jobs had that in spades.

Sadly Steve Jobs died, far too early, at age 56 on October 5, 2011. His death being due to respiratory arrest related to the pancreatic neuroendocrine tumour for which he was being treated at the time.

However his influence on business and technology was enormous and his ideas resonate with people to this day.

In my opinion, he was one of life’s great thinkers and I think his views on life and work are worth reflecting on.

So here are 15 quotes by Steve Jobs which I think are worth a few minutes of your time.

Read them; reflect on them. And then consider your life and where you’re going. Are you living your life with passion or are you just going through the motions?

As Steve Jobs implied, our time is precious. We must live our own lives in our own way. And we cannot be defined by how other people think we should be. We must be ourselves.

Quotes by Steve Jobs:

  1. Stay hungry, stay foolish. ~Steve Jobs
  2. I want to put a ding in the universe. ~Steve Jobs
  3. We’re just enthusiastic about what we do. ~Steve Jobs
  4. Your time is limited, so don’t waste it living someone else’s life. ~Steve Jobs
  5. My favourite things in life don’t cost any money. It’s really clear that the most precious resource we all have is time. ~Steve Jobs
  6. We hire people who want to make the best things in the world. ~Steve Jobs
  7. Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying we’ve done something wonderful, that’s what matters to me. ~Steve Jobs
  8. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. ~Steve Jobs
  9. You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something – your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life. ~Steve Jobs
  10. That’s been one of my mantras – focus and simplicity. Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains. ~Steve Jobs
  11. For the past 33 years, I have looked in the mirror every morning and asked myself: ‘If today were the last day of my life, would I want to do what I am about to do today?’ And whenever the answer has been ‘No’ for too many days in a row, I know I need to change something. ~Steve Jobs
  12. Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything – all external expectations, all pride, all fear of embarrassment or failure – these things just fall away in the face of death, leaving only what is truly important. ~Steve Jobs
  13. I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life. ~Steve Jobs
  14. I think money is a wonderful thing because it enables you to do things. It enables you to invest in ideas that don’t have a short-term payback. ~Steve Jobs
  15. As individuals, people are inherently good. I have a somewhat more pessimistic view of people in groups. And I remain extremely concerned when I see what’s happening in our country, which is in many ways the luckiest place in the world. We don’t seem to be excited about making our country a better place for our kids. ~Steve Jobs

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Warren Buffett’s Top 10 Rules For Success to Inspire You

Warren Buffett Top 10 Rules for SuccessToday I offer you Warren Buffett’s Top 10 Rules For Success dear reader.

If you want success then you would be wise to listen to people who have already achieved some success.

Identify what they did to achieve their success and copy it.

If it worked for them then it will probably work for you.

Now there are few people more successful in their chosen field than Warren Buffett.

He offers you his ‘Top 10 Rules For Success’ in the video, embedded here, and it’s definitely worth your time to listen to him.

They are his top tips and I recommend them to you.

Warren Buffett’s Top 10 Rules For Success:

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Steve Jobs’ Top 10 Rules For Success to inspire you

Top 10 Rules for SuccessIf you’re looking for the Top 10 Rules for Success, then there are many people who will give you a list.

However, no two lists will ever be exactly the same and very few people have real experience of success anyway. And surely the only people really worth listening to are those who’ve been there and done it? People who are genuinely successful by any measure.

And so to today’s underlying message. My point today is that if you want success then you’d be wise to look for successful people and copy what they do.

The late Steve Jobs is not only an icon but he was also a great role model to use as your template for achieving real success.

So, in the embedded video, Steve Jobs‘ offers his Top 10 Rules For Success. I recommend that you watch this video, it is inspirational and well worth a few minutes of your time.

Top 10 Rules for Success:

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25 inspirational stories of people going from rags to riches

Inspirational StoriesInspirational stories can be so uplifting. Their message always says, if other people can be successful then you can too.

Did you have a tough start in life?

Then perhaps you feel that your difficult past will prevent you from enjoying a successful future?

Well let me tell you, a tough past doesn’t mean you’re doomed to a tough future.

A friend of mine had a very difficult start in life and yet he’s now a millionaire. People do succeed and so can you.

The past is the past, of course, and it can’t be changed. It serves only as a series of lessons to be learned. Remember, the past was simply part of your education and it was not a life sentence.

The future is different. The future has yet to be written and the good news is, you’ve got the pen.

You can create any future you want, as long as you’re determined, focused and prepared to put in plenty of hard work. You won’t get anywhere without those ingredients, I’m afraid.

Nevertheless, in the future there will be a constant stream of opportunities to be seized, just waiting for the fleet-footed and enterprising to grab and exploit them.

Success can be yours, if you’re prepared to make the effort and take a few calculated risks.

Don’t just accept my word, look around for people who’ve actually done it.

There are plenty of inspirational stories if you’ll just look for them. Today I offer you a video with 25 inspirational stories. It’s well-worth a few minutes of your time.

Inspirational Stories25 Inspirational Stories:

In the video included here, there are 25 excellent examples of people who had a tough start in life but went on to enjoy considerable financial success.

These are all inspirational stories of people going from rags to riches. And if they can do it, why not you?

And remember this; you’re never too old.

Colonel Sanders started KFC at the grand old age of 65.

And Ray Kroc began building the business empire we now know as McDonald’s at 52.

Believe you can and you will.

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How to build wealth from nothing – 5 Top Tips

How to build wealth from nothingThere’s nothing you can do about being born poor. If that was the case, then it was just unfortunate. However, you don’t have to go through life poor.

It is possible to build wealth over time and plenty of people do, frequently from absolutely nothing.

Many people born poor become very wealthy through their own efforts and you can too dear reader.

Here are five tips to help you build wealth from nothing.

How to build wealth from nothing:

1. Pay yourself first:

You may well appreciate that making money can be relatively easy, whilst holding on to it is very, very hard.

We’re all constantly bombarded with reasons why we should spend our money in return for some fleeting sense of gratification. Would that be an experience you recognise dear reader?

It doesn’t have to be that way of course and rich people know that only too well.

So what do rich people do that’s different to everyone else? Simple! They always pay themselves first.

And what do I mean by paying yourself first?

I mean the moment you’re paid, you take a slice off the top of your income immediately and you put it away somewhere safe. And by a slice I mean say 10%, or more if you can afford it.

And what do I mean by somewhere safe?

Well initially that would be depositing your money in an interest-bearing account.

However, once your money starts building into a larger sum then you can start thinking about other forms of investment that’ll give you greater returns potentially. Stocks and bonds for instance.

Building a capital sum is important because as your money grows it starts to generate a second income stream for you. That may not seem important to you now but it will be as you get older.

So paying yourself first is a discipline to which you must adhere until it becomes a habit you do without thinking.

You must always put some money away and you must make that money work hard for you. You must grow and protect your investment portfolio with careful diversification and over time you’ll find yourself building a sizeable fortune.

So here’s today’s mantra for you: Pay Yourself First. Never forget that please dear reader.

2. Be an investor, not a speculator:

You must understand that there’s a big difference between investing and speculation. They’re not the same thing at all.

I don’t wish to imply that there’s something wrong with speculation though. There isn’t.

In the world of finance, speculation brings liquidity to the market and therefore it does have its place.

However, speculation tends to operate on the ‘greater fool’ principle.

By that I mean someone is prepared to buy an asset for a given price in the hope that it can then be sold quickly to someone else, the greater fool, for a greater price.

This is what professional speculators do and they can make money this way because they know what they’re doing and they have sophisticated systems to support them.

However, for ordinary people speculation is like gambling in a casino. And you should never invest your money as though you’re gambling in a casino.

You might get lucky occasionally of course but over time your losses will outstrip any gains you might make, and almost certainly by a significant margin.

So my recommendation to you dear reader is you should never speculate. Instead, you should focus on becoming an investor.

By investing I mean buying stocks and shares in solid, well managed, cash-generative businesses which have the ability to pay good dividends on a sustained basis.

Buy stocks worth holding for the long term. This will provide you with a steady income stream from the dividends regardless of any short to medium term volatility in the market. And spread your risk by building a diversified portfolio.

If you reinvest your dividends then over time you will find that this approach should give you a good return on your money.

If you want to make money and build capital, then my advice to you dear reader is to be an investor, not a speculator.

3. Focus on value not price:

The legendary investor Warren Buffett once said, “Price is what you pay; value is what you get.

With this observation, he’s making a very important point. There’s a distinction between price and value.

A low price for an asset doesn’t necessarily mean you’d be getting value.

And a high price doesn’t automatically mean you would not be getting value.

Price in itself is not a measure of value. You must consider other factors to judge value.

When you’re buying any financial asset, says stocks and shares, you should always focus on value and you must establish metrics by which you can adequately judge the intrinsic value within that asset.

Judged in isolation price is just a number, nothing more.

A lower price means absolutely nothing if you’re getting little or no value in return for your money.

Never, ever forget that it’s the intrinsic value that will determine whether something is really worth buying or not.

Get real value at the right price and then you can get a decent return over time from an investment.

4. Create a personal private income:

Much as we all aspire to do work we love, you must never forget dear reader that ultimately work is simply a means to an end.

Essentially work is just doing stuff for other people in exchange for money. In turn, that money is then the fuel on which we run our lives.

Money provides us with the means to put bread on the table, a roof over our heads and clothes on our backs and those of our loved ones of course.

If you work hard enough you can earn a lot of money.

Manage that money wisely and you can build capital. Invest that capital intelligently and you can create your own personal private income streams.

When you have a decent private income in your own right then you can truly pick and choose the work you do.

Then you only have to do what you enjoy doing; that thing that gives you a genuine sense of purpose.

Creating a personal private income is a worthy goal and it’s well worth the effort.

That way you’re in control of your own life and no one else can dictate what you should and shouldn’t do.

You’ll be in control of the good ship ‘Me’ and only you then decide where it goes.

The message here is, work hard now, so one day you don’t have to work hard.

5. Never forget what matters most:

It would be very easy to believe that a life filled with lots of money and materiality will make you blissfully happy. Well let me tell you, dear reader, in isolation, it won’t.

I’m not suggesting that these things are not important but you must get your priorities right.

Yes, of course, go out there and make money. Manage it carefully. Buy nice things and enjoy some of that money too.

However, to be truly happy you must never lose sight of the most important thing in your life and that is family and friends. People are social animals; we’re not solitary animals like cats. We need other people and most of all we need our loved ones.

So make time for your loved ones, especially your children. Enjoy their company and make the most of every minute with them.

Never focus on work to the exclusion of your family and friends. Without them you have nothing. Money is important of course but people are much more important.

Never lose sight of the people in your life.

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7 inspirational quotes about business

If you want to get seriously rich then having your own business is probably the best way, if not the only way to do it.

Certainly, that would be true for most people.

Unless you’re a Hollywood A-lister, an investment banker on Wall Street or a top player in the NFL, the English Premier League or the Indian Premier League.

Otherwise, very few jobs would provide you with the means for getting seriously rich beyond your dreams.

However business is not for the faint-hearted, that’s important to recognize.

You’ll need to think big and you must be prepared to take calculated risks. You must also be prepared to work very hard if you’re to succeed in business.

There is no such thing as easy money. Your business must add value to peoples’ lives.

Adding value means offering customers products which provide them with real solutions to their problems.

You must offer good customer service too.

Great products and exceptional customer service will certainly attract customers but the other key ingredient for business success is to manage money carefully, particularly when it comes to costs.

Money will flow into your business and money will flow out too. The trick is to make sure that MONEY IN always exceeds MONEY OUT. And that’s easier said than done.

Get it the other way round for too long and your business will go bust.

Business success can be yours but you have to be serious about it and you have to be very professional too.

That said, it can be done and people do. And if other people can do it, so can you.

Here are seven inspirational quotes about business to help you think about it.

Quotes About Business:

  1. A satisfied customer is the best business strategy of all. ~Michael LeBoeuf
  2. There is only one boss; the customer. And he [or she] can fire everybody in the company from the chairman on down, simply by spending his [or her] money somewhere else. ~Sam Walton
  3. There are no secrets to success. It is the result of preparation, hard work, and learning from failure. ~Colin Powell
  4. The secret of business is to know something that nobody else knows. ~Aristotle Onassis
  5. Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. ~W Edwards Deming
  6. If you don’t drive your business, you will be driven out of business. ~BC Forbes
  7. An organization, no matter how well designed, is only as good as the people who live and work in it. ~Dee Hock

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