Robert Kiyosaki, author and entrepreneur, became famous for his Rich Dad Poor Dad series of books. In this video he outlines his four-quadrant model which illustrates four very different attitudes to work and money.
The Employee seeks security.
The Small business owner or self-employed thinks they need to do everything themselves if it is to be done properly.
The Business person wants good systems and surrounds themselves with smart people who can improve and run their business.
The Investor expects their money to work for them.
Robert Kiyosaki suggests that if you are to successfully make the move from employee to entrepreneur you need to change your way of thinking, change your internal money mindset.
Finally making the decision to start your very own business is exciting, intimidating, and invigorating, all at once. It can be one of the most daring things we choose to do in our lives, and this is because of the considerable amount of risk that can be involved in something like getting ready to start your own company and start being responsible for making your own living. As such, there are plenty of things you should make sure you spend some a good amount of time considering before you really get to throwing your money and free time into starting up your own business.
1. Consider Your Expertise. This one seems pretty obvious, but you might be surprised how many overly-ambitious would-be entrepreneurs toss themselves headlong into a venture that they’re not even in the least bit prepared for. Perhaps the restaurant industry is a good candidate for the place where this happens the most.
2. Consider Your Budget. It costs a lot of money to operate a business, and for a lot of reasons. You’ll need a huge amount of capital just to get things started, and then you’ve got purchasing to think about, you’ve got supplies and employees, and you’ve got all sorts of other overhead like building rent and utilities. You should prepare a very thorough budget so you can know what to expect of your new business and can anticipate what it’ll take to handle it.
3. Consider the Market. It’s great that you’ve got a passion into which you’re about to invest yourself, and having a budget is just the icing on that cake of opportunity — but there’s still a very important piece that needs to come into play before you’re ready to even think about starting a business, and that’s the market. Is anybody going to be wanting to buy what you’re selling? Some of the best things to consider are whether or not there’s an established demand or use for whatever it is you’re going to trade in, and whether or not a good amount of competition seem to have noticed this, as well. If your area doesn’t seem like it’d be hospitable to your idea, maybe think about trying something else.
4. Consider Your Savings. Remember that capital we talked about a couple of points ago? That’s an incredibly important part of getting a business started. Whether you’re insanely cash-rich or take out a business loan (it’s more than likely you’ll be doing the latter), your savings are still important. They’re important if you’re cash-rich because you’ve got to make sure you don’t waste your savings on an idea that won’t pan out, and they’re important if you’re taking out a loan because banks think highly of how much money you’re keeping in them when they’re deciding whether or not to lend you more of that money.
5. Consider Your Customer. Think about the people to whom you’ll be selling. Think about those to whom you’ll most likely sell — and think about those to whom you would ideally sell. When your business starts up, nobody’s going to care about it unless you’re some prominent member of your community, or are fresh on the heels of some type of very popular success. In most cases, half the work of starting a business is actually getting people to realize it’s there. The best thing is that this can now be done for free. You can reach everyone from professional employer organizations to the average consumer on a very limited budget these days — all you really need is a laptop and some creativity. Building a successful new business has literally never been easier!
To make the best impression, it is important to have your business plan checked over by a professional who has experience editing business documents. Business editing can make your plan sound professional, which is important if you will be showing it to potential investors. You can also use a business editing service to make sure your business plan is reviewed properly. Here is information about writing a business plan and working with an editor to polish it.
Download a business plan template. Although parts of the template may not apply to your business, it can provide a good starting point in the process. Business plan templates can be found in numerous places online including the U.S. Small Business Administration website.
Decide on your business plan’s objective. The purpose of your business plan will determine what type of information needs to be included. If you are using your business plan to raise capital, for example, then you will need to include financial information about your business.
There are approximately nine parts of a business plan:
Executive Summary – This is the first page of your business plan and serves to summarize the entire document. It is the most important part of your business plan because it needs to capture the attention of your target audience and convince them to keep reading.
Market Analysis – Information about your company’s industry, your competition, your target market, and any conclusions you draw from your analysis of the market goes in this section.
Company Description – In this section, give a detailed analysis of your business and how all parts of the company will work together to achieve the company’s objective.
Organization and Management – Information about the company’s organizational structure and top-level managers goes in this section.
Marketing and Sales Management – It is important for you and your investors to know how you will attract and keep customers. Provide a detailed marketing strategy in this section of the plan.
Service or Product Line – Write about the products and services the company offers. Emphasize the benefits of those products and services to potential customers and how they are better than the competition.
Funding Request – If you are looking for funding, this is the part of the business plan where you detail the amount of money you need and how it will be used to build your business.
Financial Information – This section should detail the amount of money you are expecting to make based on your analysis of the industry. If your business is already established, then you will need to provide historical data about your company’s performance. New companies will need to provide forecasts about their expected performance over the next five years.
Appendix – This section is for supplementary information that may be given on an as-needed basis. Items that may go in this section include a credit report, resumes of key personnel, letters of reference, market studies, licenses and permits, contracts, and product pictures.
After you complete your business plan, hire someone with experience editing business documents to look it over. Be certain to communicate your objective to the editor, so they can mold the plan to support your goal. When you receive your business plan back from the person, read it over carefully to make sure it meets your needs. It may be helpful to have a neutral party read the business plan and provide feedback about whether it does the job you want it to do or needs to go back for more business editing.
You could start a virtual assistant service using the camera on your computer to be a business professional’s personal planner and set appointments. Be someone’s personal secretary. If you have any particular skills or expertise in a certain area such as Human Recourses you could offer services on that level also. Begin by contacting previous employers, and past coworkers and tell them about your service. Post your ad in papers, Craigslist or job boards.
At Home Call Center
Many companies these days have all of their customer service and support calls routed overseas. A growing number of these companies are now hiring people to work from their homes responding to those calls. A lot of companies require you to have a college education, good problem solving skills and a quiet workspace. Usually you would take care of some sales, taking orders, and solving minor problems for people. This is a great work from home idea for the right person.
Begin your own online store or personal auction using eBay tutorials to help you get up and running. You need an inexpensive digital camera to take photos of the items you want to sell and a clean, professional looking staging area with a backdrop that will enhance your product and make it easy to distinguish. There are many wholesale companies that you can purchase the latest trending merchandise from to sell on your auction. With a little experience many people enjoy a lucrative income from these types of work from home ideas.
If you are one of those fortunate people who is artistically inclined and enjoy making craft items, pastry, candy or even cosmetic products you may want to get a table or booth at a craft fair or flea market. Try not to crowd your merchandise together. Merchandise your items by category and separation. It is easier for people to make a simple choice between two or three items than be overwhelmed by too many choices and not be able to decide at all.
Online Affiliate Programs
Out of the majority of work from home ideas, affiliate marketing should be at the top of the list. There are some decent companies out there offering a wide range of different programs, products and methods. Try to avoid the hype by researching the reviews of a specific company before you sign up or give them any money. Internet affiliate marketing can be very personally and financially rewarding. I recommend companies that have a proven track record, a turnkey operation that provides you with your own website with products or income streams ready to go. These kinds of programs do not require you to do any selling but only that you bring traffic to the site. They also should provide concise educational tutorials and mentorship to guide you step by step along the way.
Note: If you are looking for an honest, ethical, and legitimate opportunity to generate a full time income from home, click here.
For free training, free education, and a free income generating website, visit http://www.YourLifeOnCruiseControl.com today.
Are you a baby boomer who’s ready to retire, and if so, are you ready for retirement? That’s the big question. If you are like me, a baby boomer in the latter stages getting near retirement age, do you have enough money or investments set aside to carry you through your retirement? Will you be able to continue your current standard of living (or better) based on the money you have saved?
Let’s take a minute to analyze this thinking. For example, let’s say you’re a 50 year old baby boomer earning $50K a year. For whatever reason, our culture has arbitrarily chosen the age of 65 as the ideal age to retire. Based on this, you have fifteen more years before the so called “golden handshake.”
Let’s also assume that you want to live at the same comfort level that you’re currently accustomed to, and you don’t have plans to switch to ramen noodles and prunes as your staple diet.
How long will you live? In today’s age of modern medicine, a healthy adult could definitely make it to ninety or even a hundred years old.
In terms of your retirement and savings, let’s also assume that your company executives pulled an Enron scam, and stole your entire pension fund. You can also assume (rightly so) that social security will be a thing of the past. That leaves 25 years of retirement supported solely by your savings and investments.
CNN has this nifty little retirement calculator that predicts that you will need $850,019 in the bank in order to just maintain your current standard of living. The question is, do you have that much?
Times are a ‘changing as the saying goes, and baby boomers, unfortunately, are bearing the worst of those changes as they approach retirement age. Many of us have worked our whole lives to scrimp and save thinking that there would pensions and social security to supplement our income during retirement. If you face the scary truth, and realize that these additions for retirees may soon be a thing of the past, where does that leave you? The reality is that it leaves us with a potential mess. However, it also leaves us with an opportunity.
No matter what, life is going to continue on no matter what you do. You will not be able to impact the inevitable demise of social security or the loss of your pensions and retirements. You can however, make a difference in your own life. It will all depend on how you respond to these changes, and the possibly tumultuous future.
Instead of sitting back and letting the world steam roll over you, you need to be willing to get up and do something about your future. Quit worrying about things you cannot change. Instead, start doing something about the things that you can control.
Retirement is a dirty word in my book. Old books, old cars and things that no longer work are retired. Are you so old that you can no longer work or be useful? I’m not! I’m still very active and useful.
So, what should you do? Where should you turn? You should start by reinventing yourself. Find something that you are passionate about, good at and that brings you joy and start doing it. The one requirement – make sure you get paid for it. Home-base business opportunities abound. They give you the freedom to do what you want, when you want. And, more importantly, they allow you to write your own paycheck. You just need to find one that is the right fit for you.
As you reach that certain age where others think you are no longer useful, don’t retire (at least don’t call it that). Instead, rejuvenate, reinvent, revitalize, and restructure your life. Take control of your life and do something that keeps you alive and earning. Remember, life goes on (sometimes like a freight train) but know and be secure in the thinking that you will be fine no matter what comes your way.
Don’t wait another minute, get started now!
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Tip #1: Avoid The Bank and Take Care of the Customer
We see it time and time again. A talented entrepreneur gets a fantastic idea that will change the world – one that is so revolutionary that, given a little funding, will alter human existence as we know it. These are the kind of entrepreneurs that we love. They have passion, intelligence, and drive that push them far beyond most people’s wildest dreams. Because we love these kinds of people so much, we hate to see them fail. When they do, it’s because they let the bank pay for their growth instead of the customer.
If you truly want more profit and cash flow in the bank, the first and dare we say golden rule, is to stop asking for money from banks, family, and the dentist next door. Instead, ask for money from your current or potential customers by providing more and better services or products. Ah ha! This is where you say, “Yeah but how can I sell anything if I don’t have enough money to start or to carry on?” That’s a very good question and the answer is that you have to become creative – you have to “create” your cash flow instead of ask for it.
For example, if you want to start a clothing store for women that will cost $500,000 – the bank probably won’t give you the money. Instead, you should open an Ebay store to sell your clothes, create a strong following in the social media circles, and use the money from those sales to increase your inventory, marketing, and operations as a whole.
This works if you’re an existing business as well. Instead of asking the bank for more money, thereby getting deeper and deeper into debt, ask your customers for more money, but give them something valuable in return. Your customers will fund the growth of your business. If you’re lazy and take the easy way out by asking for another loan, you’ll be a lazy entrepreneur down the road and when disaster strikes (which it will), you will not have a strong customer base helping to fund you through it. You’ll just have to ask for another loan which means more debt and despair.
Tip #2: Know Your Burn Rate and Runway
Imagine sitting by a barrel that has a fire burning inside of it. Next to you, you’ve brought a large wheelbarrow full of cash. In fact, that cash represents everything you’ve accumulated up to this point in your life. It may be $10,000 or it may by a million dollars. However much is in your wheelbarrow, image taking huge handfuls and duping it into the fire. That doesn’t sound like much fun to us, but it happens every day in almost every business and here’s why. Many business owners don’t know what their “burn rate” is.
Definition: Your burn rate is a measure of how much money you toss into the fire (your business) before your business starts generating a positive cash flow. Essentially, we’re measuring your negative cash flow. We know, it sounds morbid. An investor, lender, and you yourself should all ask your accountant what the burn rate for the business is if more money is to be put in. Your accountant may say $50,000. In essence, that means that you burn $50,000 a month trying to get to profitability.
Another term to understand is “runway”. It is a measure of how long you can burn money for before you go broke. Once the runway ends, you better have your plane in the air or else we’re going to need to call the paramedics. If you have $200,000 to start your business and your burn rate is $50,000, then it stands to reason that your “runway” is four months ($200,000 / $50,000 = 4 months). As a business owner, if you’re going to generate more cash and increase profits in your company, you’ll want to extend your runway as long as possible.
Small businesses need to understand the difference between profitability and cash flow. The problem here is that most accountants make it so darn hard to figure out for the entrepreneur. If you have a good accountant, sit down with him or her and have them walk your through it.
As an outsourced accounting service, we see so many people searching for more debt instead of applying the principles above. If you start your business, make sure to apply the above principles to come out on the right foot.
How do you find online jobs? Available work from home positions? It is not as easy as some make it sound. If you are trying to figure out how to find work from home jobs online or stay at home moms work ,or even The Top Internet Jobs Online you can count yourself in with literally millions of others. Here we will learn how to get a job for you online that you love. The best jobs online seem to be Affiliate marketing jobs. These online jobs arent really jobs as much as they are an opportunity to make money selling products and services of others. In order to find a really good job online or affiliate marketing position some research is needed.
Finding A Legitimate Online Job.
There are some jobs online that offer payment fro writing that are legitimate. I have been in contact with some job posters on Craigslist and such that will pay you for writing articles or post for their website or blog. I have also looked into doing some freelance writing jobs which can be found by joining a freelance writing network easily found thru a Google search. Most of the gigs are highly competitive and I have not had alot of luck with these. I welcome comments or suggestions if anyone has had some success with this method of making money online.
For me the best online jobs or work have been to write articles and or post which present information on a particular subject and hopefully direct or inspire the reader to research the information in hopes of finding a real online job or opportunity that will work for them. I have had success with 2 programs on a regular basis. One of the programs which make me money online on a regular basis involves giving away free money making websites to people who would like to have a job online or work online by selling affiliate products.
These websites that I give away to people are set up and customized with personal affiliate links for the person so they may start earning money online very fast. These sites do work and will generate a handsome and regular commision if a little time is spent to advertise them. You can get a free website to make money with and also promote them to earn money online two ways.
The other method I have had sucess with as far as an online job or way to make money online fast is to use Google adsense in my articles and blogs. I try to create hubs or articles that inspire and have useful and truthful information in them to help give people ideas and information so they too can find an available working at home job or ways to make money online. If you like to write and either use Hubpages as your writing platform or you have a website or blog Google adsense is the best and most trustworthy way to make extra money online that I am aware of.
If you would like to write on Hubpages and generate money online thru Google adsense the you can check out this article and also sign up here
To summerize the best ways I have found to make some real money online or get a online job would be to either make money with Google adsense and/or definately get a free money making website as mentioned above. This is where you can make money as an affiliate and also generate cash giving away free cash making websites to people. These are great places to start for work at home moms.
For additional ways to make real money online and/or find the best online jobs my Google website has many proven ideas and opportunities for you to consider. You can look at and consider additional ways to make money online here. Just to add one last note, For a complete list of available work at home positions that are REAL and Legitimate, check out the link on my box to get some very cool leads on jobs available now.
Deciding to work at home is a huge step towards obtaining financial independence and having an optimized lifestyle. But all too often, people fall victim to distractions and their productivity levels fall off sharply. So we need to ask ourselves why this happens and what we can do to address this inadequacy.
When working a normal 9 to 5 J.O.B., most people base their level of productivity on their surrounding atmosphere of coworkers doing similar if not the same tasks. This gives you a baseline on which to compare ones self as to how much productivity is actually being produced. But when you work at home, there is nothing to reflect on in your home business except what your upline is doing or what you hear on webinars or training calls on the phone, so the end of the equation is you start to slow down and not achieve the wanted results.
There are also many distractions through out the work day at home which will most assuredly lead you off the beat and path. Phone calls is a huge problem I’ve got, others that come to mind are the newspaper, emails, house cleaning, laundry, the family petâ€™s. All which is ok and needs to be addressed, but only by applying proper time management when you work from home.
Time management is a very key thing to master when working from home. It is very easy to set up a schedule using a spreadsheet such as Microsoft Works or Google documents. Plan out what you need to accomplish and at what time of day you want to do this, and stick to your schedule and get the work done. Certain tasks require a certain amount of time, while others require a certain outcome or level of completion. I use both of these. If you are just starting out with your work from home business, you’ll have to experiment a little and find out how long it takes to do things. Certain things I do, I give myself a certain amount of time, for example , social media, and if I don’t finish, It’s ok because it won’t make or break me. But then when I write articles, That usually takes time to complete, and if your looking to submit a certain number of articles per day, I have to use my time accordingly. If I finish up early, I move on to the next and I don’t go back because tomorrow is another day. Thatâ€™s one of the benefits when working from home.
Another aspect of productivity and how to maximize it could be to dress like you on your way to the office. Now, keeping in mind with the people that don’t care to follow this measure because that could be a big factor as to why they decided to work at home, these people feel more casual, and dress more casual, I’ve been told some don’t dress at all, and theses people can still be top earners in their niche. Either way, you should still get up and shower, dress to your taste, and hopefully this will put you in a state of mind that will help your productivity.
You also need to have a dedicated workspace. Particularly a room with a door, with no bed in it would be great. A comfortable chair to take a break from the toil is also a good choice. A window to let the day, or night in, which ever time frame you work in, is also critical. I know I enjoy fresh air. That helps me allot.
We should also state here that some people tend to feel trapped, or shut in. You need to take a 10 to 15 minute break every hour, this should be seen on your time management spreadsheet, and extra time added accordingly. Get a glass of water, not coffee, not soda, not alcohol, but water. Your brain and body runs on water. Water is to your body as gasoline is to your vehicle. My mentor taught me this in the beginning and I said the same thing, “Your crazy”. But you know, he was right. The first thing I do when I get up is drink a large glass of water to rehydrate my body. Then I’ll eat something and have a few cups of coffee, but when break time comes on the hour, it’s water. It really does help your mind and body function better. And by the way, taking breaks every hour is another perk when you work from home.
Problem could also arise to the fact that you just can’t work at home due to space constraints. Maybe you don’t have an extra room in the house and your PC is right next to the TV. a great option is to rent some cheap office space somewhere, or just a room. You wouldn’t technically be working from home, but at least you’d still be in charge.
You should also keep in mind that there will be days when you have to leave the house, to do your shopping, doctors appointments, work on your own vehicles, sports activities with the kids, and you may not get nothing accomplished. But that’s ok and that’s the beauty of working at home, you don’t have to tell the boss that you have to leave early, or take a day off because your in command.
Working at home to achieve financial freedom and at the same time, optimizing your lifestyle is the way to go if you have the discipline to be productive. It requires timeliness and consistency just like any other job, but if you get it right, it can be very rewarding. So get your spreadsheets out and start being the master of your craft.
Do you run out of money before your next check comes in? Whether you are a stay at home parent, retired, or perhaps your income just isnâ€™t enough, you may be interested in internet networking to supplement your income. Not only has the internet supplied businesses the advertising mechanism to turn their small or local business into a global business, it has also turned internet junkies into money making gurus. In truth, networking the internet has reaped sizable rewards for many. This is not to say that it is easy. It isnâ€™t really hard, but it really is work.
Choices abound on the internet for making money. Many investment opportunities, as a warning, are scams, and as always, should be thoroughly checked out before you spend any money on them. The majority are not, although some charge for information and others do not. There is a little bit of everything available. Social networks are huge. Myspace, a popular social networking site was sold in 2005 for an estimated 580 million dollars. Social dating networks, like the ones you see advertising on television, are listed amongst the top money makers on the internet, also making millions.
The internet is not just for professionals and businesses. It is now a home for curious minds seeking information and opportunities. For individuals using the Internet to make money, the possibilities are endless. From setting up on-line markets to having your own web page, there is money to be made. Whatever your interests are, you can find a way to turn that interest into a profit on the internet.
Although it would be impossible to list all the ways to make money, we will attempt to list a few of the top ideas that are working very well.
Social networking is being utilized by companies all over the world and they are seeing impressive results. This has not gone unnoticed by the individual, using the internet to supplement income. Learning the basics of how to maneuver on the internet will be key in your attempts at making money. Using the right tools and strategies will help you keep a grasp on all aspects of your new endeavor.
Start by making a plan of action so you know where you want to be and the direction you need to follow to get there. For instance, if you want to have successful website within a yearâ€™s time, list what you need to do to get there and catalogue your progress through each step. If your plans include social media networking, you may want to choose an on-line networking guide to help to help you navigate your way through the maze and will make things much easier for you. Spread yourself around and apply similar tactics on other sites as well. Make your sites appealing and easy to read. Reach out and target as many other sites and individuals as you can. Your site will require regular maintenance to keep the site fresh and full of new information.
Interaction with other networking sites sets your site about the rest. This is what sets social networking apart from media networking; allowing interaction with and even between visitors. Take advantage of the chance to let people comment on your sight and even include links to other sites. Participating in forums and blogs sites adding links to your site can truly enhance your network scope.
Affiliate programs are also a good way to add dollars to your income. Businesses find it more convenient and profitable to offer incentives to on-line sites rather than invest in risky commercial ventures. You allow a specific advertisement on your site and the company pays you a percentage of sales that are produced from that ad. Once it is set up properly, you donâ€™t have to do anything else. Simple and brilliant.
Learning to understand these money making ideas and make them work for you will take time and energy. Fortunately, all the instructions on what to do and how to do it are all at your fingertips. So, what are you waiting for?
If you start searching online for a job you can do in your own office or at your kitchen table, it can get frustrating. You are bound to find a lot of ads that are really business opportunities. I am not going to discuss how valid these are, because they vary in qualify. The point I want to make now is that most people do not want to start a business, but just want employment with a company.
What does employment mean? Well, most people are looking for a set hourly rate or salary. They may want benefits too. And these people want a set shift, or at least set duties. Do not misunderstand me. I love running a home based business, but I know that what I do is not for everybody. Besides, it took me years to get the skills I needed to run my business. I worked at another job while I got my business started. And many people need to generate income right away!
What Should People Look For?
If you see a posting for a home office job, it should have some requirements. Just like any other employer, these employers will require experience, skills, or equipment. For instance, a typical home based customer service job may ask for a year of customer service experience and a quiet place to handle phone calls. A virtual online assistant job may ask for certain computer skills, like the ability to edit documents or update a database. And even though these real jobs will probably provide some training, they will expect applicants to have some skills to start.
What Should You Avoid?
If you want to find a job you can perform at home, be very wary of ads with pictures of fast cars, beach houses, and beautiful women in bathing suits! If the ad looks to good to be true, it is probably not really a job posting. Look for a posting that is specific about the job duties, requirements, and application process.
So How Can You Find A Home Based Job with Pay?
You can try to use a major search engine. Look for terms like real work at home jobs. If you have an idea of what sort of work you might like to do, try to search for that with a telecommuting option. This should help you. You could also look on the major employment websites. But again, be aware that you are bound to find may listings that are not really job posts, but are something a bit deceptive.
Is There an Easier Way To Find Jobs?
Just like you may pay a professional to do your taxes, mow your lawn, or alter you clothes, it may be worth it to subscribe to services that concentrate on placing home based workers. Again, these services do vary in quality, so try to check them out before you spend your hard earned money on them. Look around for customer reviews so you can benefit from past experience. Some include large listings of jobs, and a big variety too.
Read ourÂ home job group review to see how this work at home job service works, and what past customers have thought of it.Â Marilyn Katz says we try to be a work at home community with reviews, articles, and an activeÂ home worker forum