How do I earn fast money in a day?

Everybody wants things right here right now, no one is willing to build himself up. The problem with expecting everything to happen right now is that even if you pull it off it’s not consistent. So you only fill in a gap today, but what about tomorrow.

It’s one of the reasons so many people take a loan, and don’t think about how they are going to pay it back. Taking a loan is like shitting in your pants, you got rid of the pressure but now you have to pay the price. So why do it? I understand that being in a tight spot sucks, but learning how to get out of it will allow you to grow. And that’s the only way you’ll stop finding yourself in a jam. Continue reading How do I earn fast money in a day?

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What are the best absentee businesses?

It’s cool to see a business running on its own, not needing the owner to be present. And it’s not a dream you can do that with almost any type of business. There are a few things you have to know about the business before you can let it survive on its own.

You have to know it like the back of your hand

There’s a big difference between learning and doing. In order to really understand the business, you have to work in it for a few years. You have to make sure the business makes sense. Let’s assume you’re starting a restaurant you need to know what your food cost is. How many people can be seated and any given time and what average person orders.

You do that to understand how much profit you can make. Then you have to understand what type of advertising works best for your business. How you can make sure you’re packed all day every day.

Having done that you have to understand all the things that can go wrong with your business. And have a backup plan for anything that might come up. Once you’ve done that you are ready for the second step.

Training someone to take your place

That person must not only be good at his or her job, they have to love the business as much as you do. They have to be willing to stick with it during the hard times and make no mistake hard times will come.

This person will also have to make a nice salary. He has to make enough money that competitors won’t steal him away from you with a bigger paycheck. As much as someone can like your business or even love managing other people a bigger paycheck might cause them to leave you.

Setup a limit

One of the reasons business owners lose everything is that they don’t know when to fold. If you start a business and it’s losing money you have to know when to close it. We’re all hoping never to get to this point, but you have to think about it especially if you want someone else to manage it.

You have to set a limit to how much this business can lose before you close it. You can still fix the problem if you see losses starting to pop up. But if it reaches your limit you have to let it die. Going down with the ship was a stupid decision when it was conceived and it’s a stupid decision now.

Conclusion

A business can be profitable only after you cover your basis. Too many business owners wing it and don’t really know if they are profitable. Do the math, make sure your business is a well-oiled machine. Only then can you be an absentee business owner.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

Your team doesn’t need you, but you need them

 

Most managers make the mistake of thinking that they are the most important chess piece. But no General has ever gotten anything done without having soldiers on the ground.  Thinking that you are above your team is one of the stupidest mistakes you can ever make.  It’s a mistake that might cost you your business.

The wrong way to do it

A team of ten salesmen, one of them is promoted to manager.  This manager wants to prove himself to the owners and his way of proving himself is increase the sales. Of course, this guy goes for the shortest route possible, meaning instead of improving the quality of the sales he decides he wants to improve the quantity.

He starts pushing his team to be more aggressive with their clients,  not to take “no” for an answer.  He notifies his team that he already spoke to and met some of their clients.  This pisses off the entire team,  five of them quit on the spot.

I don’t know about you but I think it’s going to be very difficult increase volume of sales  with only 40% of your team.

doing it the right way

For a business owner, the most important thing is profit, and profit can be achieved in two ways. One way is increase in volume of sales, another is increase in quality of sales. While increasing volume of sales might require aggression, Increase the quality of sales requires finesse.

Instead of pushing a client to make a decision on the spot you’re brainstorming with him to find the best solution.  by doing that you gain his Trust his loyalty.  I for one don’t see the point in having  thousands of clients who are only with you because they need you right now and will bail soon as they get a better offer.

I would rather “save game”  with the amount of clients already have knowing that when I get new ones they will be added to my cash flow instead of just filling up holes of clients already left.

Conclusion

The new manager had a good plan but he executed it poorly.  As a cog in the system he didn’t distinguish between the number of sales  and the total profit.  I’ll say it again, the business owner doesn’t care if he has a hundred clients or 10,000. He cares about how much money is flowing into his business. If he can achieve his goal with less clients  he will gladly do that.  Less client means less people to satisfy.

The bottom line will always be the money.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

Why you should start a blog for your small business

We live in a social media driven world and those who don’t have presents don’t exist. But there are other benefits to owning a blog that could save you some time and allow you to get to know your clients on a whole different level.

FAQ’s

Most of our clients don’t know our products as well as we do. And having a blog with a dedicated frequently asked questions page will allow you to provide your customers with support when you’re out of the office. Big companies use FAQ pages often but small businesses tend to neglect it, even though it doesn’t require that much effort.

Google maps

Google maps allow your clients to find you whether they drive a car or take public transportation. If your clients have to get to you having Google maps on your site will save you hours a month of explaining how to get to you. Your clients can always use the Google maps app but taking the lenitive and setting up a map with your address preset for them shows them that you care.

Testimonials

Many prospects who don’t know you yet will look to Google to find out what your clients think about you. Would you really wand them to get to one of your competitor’s sites and buy from them? Having a testimonials page will allow them to form an opinion without leaving your site.

The blog itself

The blog itself is your main tool for sharing whatever you want with your clients. Are you out of stock? Are you expecting something new? Share it with your clients. Not to mention that the more content you have the better chance you have to get traffic from search engines.

One last tip, make sure your site is mobile ready. Most of your clients will reach your site via their smartphones. You don’t want to put in all this work just to be ignored because your site doesn’t appear well on a phone.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

Should you start a business just for the money?

It’s like asking if you should do everything in your power to hate your life. Why would you do something you don’t enjoy just to make money. As important as money is, it’s never going to make you happy. Money just amplifies who you are and what you’re feeling, do you really want money to amplify how crappy you feel?

Instead, think of the things you like to do. What are your hobbies? What would you love doing if money wasn’t a factor? And grow from there.

Make a list of things you love doing

Don’t stop and think if people will pay you for doing something. If it’s something you love doing just write it down (just make sure it’s legal). Ask friends and family member for help if you need to and get as many things on the list you possibly can.

Now it’s time for research

Now that you have a few ideas, find out if anyone else has built a business around them. Don’t worry about the market being over saturated the more businesses in your niche the easier it is to get clients.

Try not to focus on the bigger brands with huge factories, if baking is your thing try starting a small version of the business from your home. If it’s a service based business like computer repair of website building look for some prospect in your area.

Test run

Many people paint themselves into a corner by jumping into a new business with everything they got. After a while, you might find out you don’t like it, or that you would enjoy doing something else more than what you’re doing now. Taking your small business for a test run will allow you find out want you like or dislike about it.

Don’t worry about friends and family that get on your case for taking your time. If they don’t have what it takes to start a business they shouldn’t have the hubris to pick on you.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

Stop looking for trouble, don’t allow your lifestyle to outgrow your income

There are many things we think we should have, a big home, a nice car and the list just keeps piling up. But there’s only so much you earn if you don’t have anything left to invest how will you grow your income? Even worse, the things you buy require attention and maintenance, that means more money than you intended to spend on them.

Think of something simple as owning a car. You have to fill it up with gas, pay for insurance and the occasional parking ticket. But you don’t think of all that when you buy the car, otherwise, you would never buy it. Wouldn’t it be just simpler to have something else cover the expense for you?

An alternative

When Robert Kiyosaki wanted to buy a new BMW he had the money, he just didn’t want to throw it away on something that doesn’t provide him with a cash flow. So instead he looked for a small warehouse that was worth as much as the new car he wanted. He bought the warehouse and leased it. He then proceeded to buy the car in monthly installments that were the same as the rent he got from leasing the warehouse. When he finished paying for the car the warehouse still generated an income.

My point is not that you should hold your breath till you can’t take it anymore. Buy what you want but use a little common sense. Before you make a purchase think will the car buy me the warehouse or will the warehouse buy me that car.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.

Why I choose to use Ubuntu as my main operating system

When it comes to gaming nothing beats windows, but when it comes to working I need stability. I have tried windows and mac OS in the past and they don’t even get close the experience of using Ubuntu for work for a few reasons.

It’s much more stable

It allows you to do your job. The system never interferes with anything you do. Even updates are done in the background and don’t force you to restart. You never run into that annoying situation when you look at the keyboard to type and something popped up and the system stopped registering your input. I remember that used to annoy me more than anything.

There’s nothing to be afraid of

There are no viruses or spyware to worry about. And no search engine hijacks chrome. You can do anything you want without having to worry about reformatting your computer.

It rarely crashes

The system runs much smoother and there are almost no crashes. I mean it, I have never had a crash and never lost my data (at least so far)

It uses most of the software you already know

The default browser is Firefox, I use Vlc, Open office and most of the programs I used when I was working with windows. If you want to install something new there are many programs that support Ubuntu including Chrome, skype, FileZilla etc.

Linux is not as scary as some people think, it’s a much more pleasurable OS than windows or mac OS. And if you have an office with ten computer it’s free price tag will save you thousands of dollars.

Another thing with Ubuntu is that it takes 10 minutes to install, it found all the drivers and has an office suite ready to go. There really is no reason to use any other program.

I hope you found this post helpful, if so like it and share it with your friends. And while you’re at it, check out my ebook ‘level up your business’ a guide to starting your own business the right way.