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Too many people are trying to
start their home businesses with an ordinary employee's
way of thinking. This has become a common reason why not
long after sitting down and giving it a fair look into
even the most lucrative business opportunity they bump
into, they put it away and decide not to take any chances.
What has happened here is
that the most lucrative business opportunity has been
looked into by an ordinary 9-to-5-worker, who appears NOT
to be business-minded.
If you are like most
people, you have probably considered starting your own
business yourself. But above all, you have to understand
that to make into a successful Business Entrepreneur, one
has to change their way of thinking first.
1. DO NOT EXPECT FAST CASH!
Besides gambling or winning
a lottery, working as an employee is the only way to get
'fast' cash... 'fast' as in 'in-25-working-days'. This
kind of cash is always certain to come in as long as you
work from 9 to 5 for your boss. But as you probably
already know it, as soon as you stop, the money stops.
(See FinancialFreedomAwaits.com).
True
entrepreneurship-minded people know that it takes time to
develop an 'attack plan' for their businesses. It takes
time to build a strong and solid business, which delivers
ongoing income through many years.
True Business Entrepreneurs
hold on to this truth, "We reap what we sow, but the
harvest is never in the same season as the planting."
Change your way of
thinking:
DO NOT EXPECT FAST CASH!
2. AIM FOR JOB SECURITY OR
FINANCIAL SECURITY?
Employees would rather have
job-security. Why? Simple: the income is secure. As long
as you loyally work from 9 to 5, you will for certain get
your cash! The problem with a typical job is that when you
stop, the money stops.
The stark fact is: one day
you might get sick and won't be able to go back to work.
Sooner or later you will retire. Companies get broke and
have to release their employees. No matter what the
situation, as soon as you stop working, the money will
stop coming.
So much for secure
income...!
A job with secure income is
necessary for those who has not set up their own business
yet. True. But a true Business Entrepreneur won't settle
merely for job-security. He aims for much more, such as
financial security. No, he won't have fast cash. And no,
he won't have any secure income yet - at least not in the
beginning. And often, he won't have any income at all from
his new business for the first few months.
Business entrepreneurs
think of the big picture. What they do is building assets
from which his money will come in month after month, year
after year from work he is doing now! The money will not
come now. It might not even come for the next few months.
But as soon as his business is up and running, it will
keep generating income for him, even when he chooses to
stop working!
And THAT is financial
security!
Change your way of
thinking:
THINK OF THE BIG PICTURE:
AIM FOR FINANCIAL SECURITY!
3. GENERATE PASSIVE INCOME
Financial freedom is not
measured by how much money you earn by working, but how
much money comes in with only little or no work at all.
This later kind of income is called passive income. This
fact has been known for decades by real wealthy people.
Successful and wealthy
entrepreneurs do only little work and sometimes it is even
possible to do the work only once but still generate
recurring income on it. Imagine a song or a book writer.
They write their songs or books once but get paid forever
on it. This do-it-once-get-paid-forever type of income is
called residual income.
Most people who have
attained financial freedom have other people working to
generate income for them. Earning money by other people's
effort is called leveraged income.
As hard as it may seem, to
create leveraged income, you need to have your own
business where other people work to generate income for
you. Any business. Whether it is a traditional business,
franchise, small business, internet based or home based.
Employees work to generate
secure income. Business Entrepreneurs work to build assets
with income streams which generates for him ongoing
passive income (either residual or leverage income or
both). In other words Business Entrepreneurs work to build
himself -what I would call- a 'money-machine' which is
designed to generate ongoing income.
Whereas the Employee can
not stop working because otherwise he will lose his
income, the Business Entrepreneur will have money coming
in constantly, even when he chooses not to work, simply
because it is his assets that generate residual and
leverage income for him.
Change your way of
thinking:
TAP INTO PASSIVE INCOME BY
GENERATING RESIDUAL & LEVERAGED INCOME!
4. INVESTMENTS
It is common for people who
seek job security to hesitate to invest. The reason is
understandable: for some of us the risks of investing in a
business are just too much to handle.
A true Business
Entrepreneur understands that in order to build -what I
would call- a 'money-machine', investments are necessary.
There is just no such things as businesses without
investments. He knows that it takes time and effort to
develop a successful business. But he also knows that
investing money is just as important!
Sometimes it takes the
Business Entrepreneur a year or two before he can finally
reap the big success. Sometimes even a bit more. It takes
a couple of years of investing time, effort and money. But
this is not too hard for him to handle. A true
Entrepreneur thinks long term. He knows that in the end,
his working and money investing will finally pay off!
A Home Based Business
Entrepreneur would only have to invest just 5-10 hours a
week for a couple of years and he would only have to make
low budget investments into his home based business. And
at the end of the time of working and investing, our
Entrepreneur would have turned it into a significant
amount of residual income stream!
I'm not talking about money
that comes in today and is gone tomorrow but income that
keeps coming in month after month, year after year...
money that -as Gery Carson has put it- "when you've
left this planet continues to provide for your spouse,
children, or grandchildren."
By then you would think
that all your valuable time and money you have spent would
be worth it.
Commonly an ordinary
employee, who fears too much to invest, works hard to
receive his pay check every month. Most likely he even
retires broke. Before he knows it, he leaves the planet
with nothing to leave for his family.
A true Business
Entrepreneur is prepared to invest. He knows by investing
in his business he is building assets that would generate
passive and residual income for him throughout his years
on this planet and the years of his grandchildren.
Change your way of
thinking: THINK LONG TERM: START INVESTING!
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