Creating a Life Plan: 17 ways the rich think differently

Creating a Life plan

Have you ever thought about creating a life plan, dear reader? If you’re young and have your life ahead of you, certainly, it’s a good idea. You can always let life happen to you, of course, but it’s better if you go out and make life happen the way you’d prefer it to be. And to have a good life, having money certainly helps. So money is at the heart of life planning.

Now, why is it that some people are wealthy and others are not?

You might argue that the rich inherit money, and therefore they’re just lucky. For a few people, that may be true. However, it’s not a universal truth.

Having wealthy parents helps, no doubt but there are plenty of examples of self-made millionaires and billionaires. And there are plenty of examples of people who lost all their wealth and then just created another fortune.

There are also plenty of examples of poor people who enjoyed good fortune winning a lottery only to squander their millions within a few short years.

This would suggest that the rich and poor have a different philosophy concerning creating a life plan and money as a resource.

17 ways the rich and poor think differently:

The video embedded here explores 17 ways in which rich people and poor people think differently. It’s an interesting video and it makes some really useful points that will help you in your life planning. It’s informative and well worth a few minutes of your time, in my opinion.

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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 it 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 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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15 Things Poor People Do That The Rich Don’t

HABITS OF POOR PEOPLECan we learn from the habits of poor people when it comes to money?

Certainly, when considering what the rich would not do.

It’s a fact that the choices people make will affect the life they experience. That goes for money, as well as for every other aspect of their lives.

Quite simply our lives are dictated by the choices we make, whether we like it or not.

The video in this post makes some interesting observations about the choices made by people destined to remain poor relative to those who enjoy greater prosperity and the finer things in life.

Now you might feel that some of the observations made here are a little harsh on the less fortunate but actually, in my experience, the points being made are ‘bang on the money‘, if you’ll excuse the fashionable terminology dear reader.

I think you’d be wise to listen carefully and think about the underlying messages in the video and be honest with yourself.

Just think about it for a minute and I’m sure you’ll agree.

We enhance our value by increasing our knowledge and skills, rather than making sure we know who the latest fashionable celebrity is dating. Why would that matter to anyone?

Listen, learn, and make changes as necessary.

You don’t have to be poor but, if you are right now, then you need to start making some changes.

Nothing will change unless you do. Keep doing the same thing and you’ll keep getting the same result. Do what successful people do and you can be successful too.

Things Poor People Do That The Rich Don’t:

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Work and Money: Which is more important?

WORK and MONEYIt was never, ever about the money. ~Guy Ritchie

How often are we tempted to do something just for the money?

Certainly, I’ve done things for money alone and perhaps you have too dear reader.

In my experience, it’s always proved to be a mistake because no amount of money compensates you for the drudgery of doing something you hate.

And more importantly, if you hate what you’re doing then you’re unlikely to do it very well, are you? It’s hard to feel motivated to do something you hate, surely?

Work and money:

My message today then is very simple really. If you don’t enjoy what you’re doing, you won’t do it well. And if you don’t do it well then eventually you’ll come unstuck. And so it’s all going to end in tears, very probably.

Conversely, if you actually enjoy doing what you’re doing then it will hardly seem like work at all and you’ll be motivated to do it well and produce the best results possible.

Do it well and people will notice and, once people start to notice, your career will start moving onward and upward. Every hiring manager wants someone with a track record for delivering exceptional results.

So never do anything for money alone. Money is nice to have, of course, and none of us can get by these days without it. However, life’s too short to spend your time doing something you hate.

Find a job that’s right for you first and then work hard to master your trade. Get better at it, become more valuable and then get as much as you can in terms of income.

When you’re producing exceptional results, never forget to ensure you’re getting paid what you’re worth.

It should never be about the money but that doesn’t mean you should ignore your value and sell yourself short. It’s about work and the value you can add first and then it’s about making sure you’re suitably rewarded for the value you’re delivering.

Be a dedicated professional, of course, but don’t be a mug. Just because it’s not about the money doesn’t mean you should ignore the money.

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Turn your yearly income into your monthly income

HOW TO TURN YOUR YEARLY INCOME INTO YOUR MONTHLY INCOMEAre you one of those people who feel you should be earning more than you do?

Would you like to know how to turn your yearly income into your monthly income?

To have enough money to enjoy the lifestyle you’d love?

You’d like a greater income but you don’t know how?

Perhaps you feel that big money never flows to people like you.

A natural assumption perhaps, but it’s wrong.

With the right approach, you too can have a lot more money than you have right now. Yes, you can become truly wealthy.

The question is where do you begin?

Well, you can start by understanding the Law of Compensation. In the video included here the self-help guru, Bob Proctor explains that income is earned according to the Law of Compensation.

The Law of Compensation:

Bob explains that the Law of Compensation states that the amount of money you earn will always be in exact ratio to the following three points, namely:-

  1. The NEED for what you do.
  2. Your ABILITY to do it.
  3. The DIFFICULTY there would be in REPLACING YOU.

Now you have no control over points 1 and 3, so you must concentrate on point number 2.

You must constantly hone your skills and become a master of whatever you do.

That said, becoming a master of what you do is only part of the solution.

To earn more you must decide on your strategy for earning money. In the video, Bob Proctor explains that there are in fact only three strategies for earning money.

The Strategies for Earning Money:

So what are the three income-earning strategies? Bob Proctor describes these are M1; M2; and M3. In more detail that means:-

M1: Trading your time for money:

Essentially this is paid employment and it is the way that 96% of people earn an income.

The problem is that, unless you’re a Wall Street banker, you’re unlikely to get rich this way. In fact, it probably explains why you’re not rich right now.

M2: Invest Money to Earn Money:

Assuming you’re working for the man as a salaried employee, you can start saving, and gradually as your savings grow you can invest your money in stocks, bonds and property and over time your investments will start generating an income of their own.

That’s great but you need to know what you’re doing and, if you have nothing now, it will take some time before you can start generating anything approaching a useful extra income.

Of course, should you have a large sum of money right now then this might be a solution but for most people, it’s not really, which is why only around 3% of people make an income this way.

How-to-turn-your-yearly-income-into-your-monthly-income-2M3: Multiply your time with multiple sources of income:

Establishing multiple income streams is where you can start making serious money.

Even fewer people make an income this way, around 1%, but that has more to do with the fact that most people fail to recognize its potential.

Now let me make one thing clear, having multiple income streams does not mean working multiple jobs.

It means having income streams that will earn money for you even whilst you’re sleeping.

M3 is the income strategy that will help you earn far more than you earn now. Certainly, it will if you do it right.

Bob Proctor offers the example of Network Marketing (also known as Multi-Level Marketing) whereby not only do you sell products but you also create your own network of sellers which means when they sell you get a part of the commission generated on those sales.

The best network marketers have made a lot of money this way but it’s not the only answer to generate multiple streams of income.

The internet offers multiple ways of getting rich online nowadays.

For instance, you can use Amazon as a marketplace and sell products with fulfilment (delivery to the customer) handled by Amazon.

You can also generate commissions through affiliate marketing with Amazon, as well as others like Clickbank and Commission Junction (CJ). These can be great ways to make money whilst you sleep.

Blogging and Vlogging are other ways of producing income streams too.

There are numerous ways for the ambitious and determined. In fact, it’s never been easier for people prepared to put in the effort.

So listen to what Bob Proctor has to say and be inspired to take action now.

The Game of Money-Making:

Further Reading:

In the video, Bob Proctor makes reference to Think and Grow Rich by Napoleon Hill.

Think and Grow Rich is a classic of the financial education genre.

Originally written in the 1930s but it’s still around today and is still popular and very relevant.

It’s still around for a reason. It’s exceptional and definitely worth adding to your personal reference library. It’s a ‘must read’ if you want to master the game of money-making. I have my own copy and you can take a look at the book if you CLICK HERE.

Bob Proctor himself has also produced some excellent self-help books too and you can take a look at them if you CLICK HERE.

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3 ways for getting rich

WAYS FOR GETTING RICHYou should never take money too seriously dear reader but, equally, you should never underestimate the importance of money either. Let’s face it, in the modern world, money is as essential to sustaining life as oxygen. That’s a fact, whether we like it or not. So getting rich is a worthy topic for discussion.

By getting rich I mean achieving financial freedom. I think that should be everyone’s goal, if only so that they can enjoy their old age. In my opinion, there’s nothing wrong with getting rich providing money does not become your obsession. That is, you should have money in your head but not in your heart.

Now getting rich is easier said than done, of course. It requires effort on your part and a lot of determination too.

Nevertheless getting rich is also easier than it might first appear to be.

So today I offer you three ways for getting rich which are available to anyone and everyone and they will all help you to achieve financial freedom.

Getting Rich:

1. Solve problems for people:

Working for someone else may make you a living but having your own business can make you a fortune. The only way most people can become seriously rich is by setting up a business of their own. It can be done and people do, very successfully, and it’s possible for you to do it too.

Essentially business is all about solving problems for people in exchange for money.

Businesses create products that solve problems for customers. The customer buys the product and the business makes money. Obviously, you need to ensure that your revenues exceed your overheads but in essence, business is that simple.

If you want to make money in business just look for problems to be solved and there you’ll find commercial opportunities.

One person’s problem is another person’s business opportunity.

However, do make sure that every product you offer does actually solve a problem for your customers.

That means understanding the needs and wants of your target customers and always asking the question, “What problem will this product solve for my customers?

2. Risk leads to reward:

If you want to make serious money you cannot avoid an element of risk. That’s a fact of business life.

Entrepreneurs have to be risk-takers by definition.

However, that doesn’t mean you taking crazy risks. It means taking calculated risks by doing your homework; proper planning and market research; and using your business skills to weigh up the pros and cons of every opportunity.

Risk is simply the possibility of you getting an outcome you don’t want.

However, it’s a fact that risk and reward go hand in hand. The greater the reward on offer the greater the risk you must take potentially to achieve it.

Obviously, your attitude to risk is important here.

If a given risk makes you very uncomfortable then it’s probably not worth taking. It will just lead to too much stress for you. Some people have the ability to live with huge risks, whilst others cannot cope with that much pressure.

Either way, it doesn’t matter. If you can’t cope with large risks then avoid them. Just look for something with lower risk and with which you can cope. Even small risks can lead to great riches.

Remember we all need a mix of certainty and uncertainty in our lives. Business requires you to live with the latter, at least to some degree.

3. The magic of compounding:

Once you’ve made some money it’s important you put it to work for you if getting rich is your aim.

And putting money to work is all about taking advantage of the magic of compounding.

Compound interest can have a powerful effect on your money.

For instance, if you invest $1,000 at 2% for 10 years with annual interest reinvested and it will be worth $1,219 at maturity.

However, if you invest that same $1,000 over the same period at 10% then you will get $2,594, assuming annual interest is re-invested. That’s over 100% difference over the 10-year period.

Over 20 years at 10% your $1,000 would have turned into $6,727, assuming annual interest had been reinvested.

So remember, the interest rate and the longevity of your investment both matter if you’re trying to build a capital sum.

So if getting rich is your aim then start by investing as early as you can, be disciplined and make regular contributions to build that nest egg.

Further Reading:

Obviously, a single blog post can only scratch the surface of all you need to know about money.

So if you’re wise you’ll buy some books on the subject to get your financial education moving in the right direction.

Here are some books I can personally recommend, all of which I own my own personal copies: –

Think and Grow Rich by Napoleon Hill

Think and Grow Rich is a classic of the genre. Originally written in the 1930s but still around and still very popular. And it’s still around for a reason. It’s exceptional and definitely worth adding to your personal reference library.

The Richest Man in Babylon by George S. Clason

The Richest Man in Babylon is another classic of the genre. Simple but inspiring. You can read this book in a few hours but it will provide you with a series of powerful lessons for acquiring money, keeping money and making money. Again well worth adding to your personal reference library.

Rich Dad Poor Dad by Robert T. Kiyosaki

Rich Dad Poor Dad is an excellent starting point for anyone seeking to improve their financial knowledge and improve their financial future. This is modern compared to the previous two but it has also become a classic and is well worth the cover price.

One Hour Investor: The Beginner’s Guide to Investing in the Stock Market by Russell Ellroy

One Hour Investor: The Beginner’s Guide to Investing in the Stock Market is recently published and so it’s right up-to-date. If you want to learn about stocks, bonds, mutual funds, and much more, then this could be the book for you. Written in a very accessible style and aimed at the absolute beginner.

I have all of these books in my own personal library and I dip in and out of them frequently. You will be inspired by them all I am sure and I recommend you purchase your own copies.

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8 Top Business Tips for Success Today

Top Business Tips for Success TodayBusiness 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 the 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 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 on 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 the 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 tee shirt 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, a great opportunity was 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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Steve Jobs’ Top 10 Rules For Success to inspire you

Steve Jobs Top 10 Rules For Success

Photo Credit: Matthew Yohe

If 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, don’t you think? 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. 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. One person’s problem is another person’s opportunity to provide a solution for a profit.

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

Don’t just accept my word for it, 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.

25 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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The 4 steps to financial freedom

steps to financial freedomFinancial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this. ~Dave Ramsey

Many people are searching for the steps to financial freedom. Search the internet and there will be references to seven, eight, nine, and even ten steps but I think only four steps really matter.

However before I discuss those steps, let us first think about the biggest cause of people remaining poor, namely the burden of debt.

Statistics suggest that most people these days are heavily in debt. And debt is a burden that enslaves us. Knowing we have debts can be stressful.

What is the underlying cause of such debt? That’s simple. Mostly it’s the overuse of credit cards with little or no thought to how this will affect our financial well-being.

Unsecured debt built up through the excessive use of credit cards is expensive. Very, very expensive!

That means even a small sum outstanding on a credit card can quickly become a large debt due to the effect of compound interest if you only make the minimum payment each month.

Are you affected by debt dear reader? Are your finances out of control? Would you like to achieve financial freedom?

Steps to Financial Freedom:

Often I hear people say things like, if only I could increase my income I could pay off my debts.

In fact, those same people, if they did increase their income, would probably just spend more. And financial freedom would still remain a distant dream.

If financial freedom is your aim then it’s essential that you take control of your finances. And the steps to financial freedom are as follows:-

1. Spend less than you earn:

It all starts with spending less than you earn. If you spend less than you earn you can work on becoming debt free and then start to build capital.

2. Pay yourself first:

You must always pay yourself first. What does that mean? It means that as soon as you get paid each month you take a minimum of 10% of what you earn and put it away somewhere safe immediately.

Never, ever wait until the end of the month to see what you’ve got left.

If you do that you’ll never save anything.

If you take 10% upfront it will just be another debit on your income like taxes and pension contributions. You’ll quickly get used to having only the remaining 90% to live on.

And what do you do with the 10% or whatever you’ve put away?

3. Eliminate credit card debt:

Initially, if you have a credit card debt burden then it makes sense to use that money to deal with paying off your debt first because the interest you’ll pay on the debt is always greater than any interest you’ll get on savings.

To pay off your credit card debt it’s essential that you find a way to eliminate the interest element each month so that any payments you then make go against the outstanding balance.

And how is that done?

Well, when you take out a new credit card account it often comes with a period of zero interest, usually six months. These accounts also usually allow you to transfer in outstanding debt from another credit card account.

So by moving from one card provider to another and transferring the debt across to the new account, you then have a period of six months to make payments against the outstanding balance without accumulating interest on the old debt.

Never, ever use this card to increase your debt. Use it only for reducing your debt.

At the end of the period of zero interest on your new card repeat the process if necessary. Once again, you move to another card account offering you a zero-interest period. By focusing only on the outstanding balance it will be paid off sooner.

Eliminating the burden of debt is the first step on the road to financial freedom.

Freedom from debt will give you peace of mind. And that peace of mind is a good reason for spending less than you earn.

Once the debt is cleared, what next with the money you’ve paid yourself first?

4. Build capital:

Initially put your money into a savings account. Then, as that builds into a larger sum, you can start thinking about other forms of investment like stocks, bonds, and property.

Once you develop the habit of putting some of your money away each month it’s amazing how quickly it accumulates into a decent capital sum and you’ll be on the road to achieving financial freedom.

Conclusion:

Learn to live within your means.

If you live modestly and spend your money wisely, you can ensure that you have enough money when you really need it.

You can also build that nest egg for your retirement and give a little back to those less fortunate than yourself. And you’ll feel so much better about yourself too.

Conversely, gathering too much clutter through excessive spending on things you don’t really need can become stressful, as well as wasteful. The choice is yours.

Financial freedom is achievable and it will give you peace of mind.

You will sleep better knowing you’re debt-free.

The steps to financial freedom are really quite simple. Spend less than you earn; pay yourself first; eliminate expensive credit card debt; and start building capital.

Do this and one day your older self will be grateful you made the effort I can assure you.

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