Posts Tagged ‘Business Models’
If a recent report on the status of United States retirement security isn’t sobering, nothing is!
The Government Accountability Office, the nation’s top “auditor”, says that “ . . . the American retirement system — Social Security, workplace retirement plans and individual savings — will not provide adequate retirement security for a growing number of people . . .”
>> GAO report says American retirement system not providing adequate security <<
The risks to retirement security are not in just one area. It’s Social Security funding, underfunded programs to guarantee private sector retirement security, and a shift to plans that put more of the financial burden on the employees.
So, what can you about it?
If you are 40 years old, and realize you haven’t been investing (saving) regularly, it’s not too late.
Investing $800 a month for 25 years will allow you to retire with $1 million dollars in your investment account.
So, how do you squeeze out $800 per month from your household budget for your retirement security investing?
It might just be time to start a side, passive income business.
Think of it as your retirement account . . . because when you get to your “golden years” you want that additional income stream.
You can get some “by the facts” help in evaluating a home business by clicking here:
>> Working Smarter <<
Is it time to take hold of your financial security?
If you’re building a passive income network marketing business, you probably have wondered about millennials.
Or, maybe you are a millennial wondering about starting a business . . .
I recently came across an article highlighting four reasons why millennials should consider starting a business.
First, “You’re not a good employee and don’t like working for anyone else.” Ahhh? You think this applies just to millennials? Guess again!
If you find that pit in your stomach every Sunday night as you think about what the week is to bring, it just might be time to do something about it.
Second, “It’s easier than ever to become an entrepreneur, and technology has a lot to do with it.” Expanding a network marketing business using technology is simple . . . and scalable.
Third, “You’re thinking about leaving your day job to pursue your passion full-time. As a young, aspiring entrepreneur, focus on how that passion is going to help other people.” There are plenty of network marketing options that can both appeal to your passion, and help other people.
Health and wellness, beauty, financial, and travel (my business).
And finally, “You know how to use social media marketing to reach lots of people quickly.” Watching my own kids, millennials wake in the morning with social media and hit the pillow at night after social media.
Whether a millennial or not, the world is wide open and at your fingertips through the proper use of social media to build your business.
Hit me up if you want to discuss business building options . . . whether you are a millennial or not!
The article: 4 Reasons Young People Should Become Entrepreneurs
I’ve been as guilty as the next person wanting to know each and every detail of my network marketing company’s compensation plan.
However, Tom ‘Big Al’ Schreiter had it just right. Here’s how he discusses a company’s compensation plan:
Compensation plans work like this:
If you have a lot of people using your products and services, you will earn a lot of money.
If you have fewer people using your products and services, you will earn less money.
That’s it.
Companies can only pay out a portion of sales in a compensation plan, so they have to pay it out to the people who produce the results.
That’s the big picture.
The people who micro-manage little percentages in a compensation plan are the people who have lots of time, because they don’t have a downline! 🙂
I’m a fan of Robert Kiyosaki, if you haven’t figure that out!
He speaks extensively on the issue of Cash Flow.
Cash flow pattern of the poor . . . of the middle class . . . and of the rich.
The one most interesting, and what should be most troubling is the cash flow pattern of the middle class.
Kiyosaki paints the picture seen all too often:
- High paying jobs, with nice homes, cars and credit cards.
- Put money into retirement/401(k).
- Balance goes to purchase toys and liabilities that don’t put money in the pocket.
Over time, he notes, that lifestyle must be sustained. With higher paying jobs or working longer hours.
And then, the catastrophic ramifications of being laid off or fired.
The solution?
While he doesn’t reference it in this article, he has spoken on building a passive income asset.
But, he describes the cash flow pattern of the rich.
Investing in assets that generate income.
Where do you fall? Do you need to change? What steps are you taking?
Click here == >> New Rule of Money #3: Learn How to Control Cash Flow
Inc.com passed on some solid advice they received from people who want to become millionaires at a young age. They pulled together 11 tips of advice from people who became millionaires at a young age, as well as people who studied hundreds of self-made millionaires.
They may not have had internet-based businesses in mind, but these tips apply across the board.
I’ve got a ways to go to hit my millionaire status, but a number of these were already on my list.
- Increase your income in increments. Earning passive income was on the list . . . and is my business model. How about yours?
- Develop multiple streams of income. Straight out of Robert Kiyosaki’s book—The Cash Flow Quadrant. “… the more income streams you can create in life, the more secure will your financial house be.”
- “…Every one of them (folks with million dollar fortunes) had the habit of reaching decisions promptly”
- Don’t show off. Show up. Save more and spend less.
- Invest in your future. Every day, I spend time reading and taking in mentor information through videos, books, and blogs.
- Rich people are typically self-employed and determine the size of their own paycheck. “While the world-class continue starting businesses and building fortunes, average people settle for steady paychecks and miss out on the opportunity to accumulate great wealth.”
- “If you want to make more money, you have to have a clear goal and then a specific plan for how to achieve that goal.”
- Hang out with people you admire. “We become like the people we associate with.”
Whether you are young . . . and have the millionaire goal . . . these are solid habits to follow for success.
Or if you have a few years on you, like me, but you are “still in the game”, this article is an excellent read.
How do you match up with this list? Which habits are you implementing? Which are you starting?
Click here == >> 11 Habits of Successful Business People Who Became Millionaires by 30
