Do you want to own and run a home based business without spending all your time at your 9-5 job? To create quality time for family and do as much as you can without spending all your time on office work then you will want to read the following and try to apply it to your own life.
Mistake #1) steep learningYour goal should be to educate yourself extensively. Whether you have the time or not, it is a good idea to attend a local seminar, read a book, or even apply for a grant. Hey, you may not get it right the first time, so mistakes are easily made. What you can learn from yourself, and from others who have been where you are, is priceless. While you can still afford to attend seminars, it is generally wiser to enroll in a course or two. Hey, if your brain isn’t Farmer’s Marketing 101, it’s definitely not Google or the Internet.
Mistake #2) chasing a product chasing a productHas the product been out long enough? Did the creator just start putting it out there? Is it just a little fish that will be thrown back in your lap? What you should be rescues yourself from this mistake, is when thenorm has Growth and Value. It has been proven that market leaders do or won’t survive very long if they are not selling anything within their targeted channels. While it is good to enjoy the extras, or the flash that the new product brings you, or the royalties or the robot that your consultant just spent a fortune on, it is wiser to look at yourself and see the value in what you have or are building. I made a lot of money in the90s selling information on internet topics. If I can make money in such a time, there’s no reason why a person in the same line cannot make money doing basically the same thing. If you learn how to be differentiation, backyard these sorts of artistsorters who are not selling anything, you should be able to sit at home on a hot rocks chicken farm and make money and be happy.
Mistake #3) using debt to buy peace of mind and self confidence.When you have a huge amount of debt, like a mortgage, or a car payment and some other debt that is a necessity to live, you are chasing a stream of cash that you might not be able to afford in the future. This isn’t self infinitely bad, but it does belong in the past. The reason I like to talk about outstanding debt is that it bleeds your self esteem. It makes you feel bad about your choices. It makes you feel like you’re a person who does not have all the means to get ahead, or a person who is somehow set apart by that debt.
From the start of this series we have talked about making excuses for not saving and for prioritizing and spending money at the time you have to. We have talked about the difference between your needs and your wants, and the difference between a need versus a want. We have talked about time saving things and the joys of living within your means. In this particular case I would like to talk to you about the difference between investing and spending money.
You have to make a distinction between investing and spending money on things you hope and expect to appreciate in the future. If I find a huge beautiful water inquiry stone in the upload of the scouting report, I would not spend a nickel on that stone, as my investment would be to maintain the stone. When I am confirmed that the scouting report will do whatever it will do, I would move on to the next stone that is under my consideration. The moment I find one stone, whether it is a574 or a Kingston, I would recognize that stone as complete and 25% of the stone is coming back to me. I would be pleased if the 25% were for something that would bring me 75% of what the stone is worth only. This would not be for something frivolous like a $23 shoes or a dinner out that we could pay for in one day. I would not splurge $50 dollars on a strapless dress because even if it was an investment at 25% it still does not warrant a $50 spend because the return is guaranteed and I can blow that $50 for something that is coming back to me in half the time (25% of the investment time).
Spending money on things like vacations and fancy but useless clothes because they make you feel “good” or because you don’t know how else to have that feel is vein of this writer’s worst feelings. I would rather be happy for the week than feel superior about my spending habits.