What I found is quite promising – if you didn’t know a high-profile guy like James Altucher and his high-end Top 1% Advisory backdoor investing strategy existed – then opportunities like this become much more attractive if you are an entrepreneur or individual who is looking to earn an extra income stream.
Make more profits from existing customers. The fastest way to increase your income is to sell more products and services to your existing customers. Find ways to add even more value, and offer the products and services to your existing customer base.
Trader Tim Grittani agrees that trading in and out of these low-cost stocks like he does, often within minutes, is risky. But his $1,500 became a portfolio worth more than $1 million within three years — when he was only 24.
It’s important for us as Africans to change our mindset about the process of getting rich and the journey to becoming successful. Now you know how powerful a penny can be, now you know how tough the journey is and that results will only start to show at the very end of your entrepreneurial journey.
My oldest daughter tutored and gave piano lessons. My younger daughter was paid $70 by our hair dresser to set up a website on 1and1.com using their free Website Builder. Sweet! Your ideas really will work.
If you want to get 10X or 100X the results of other people in your field, you need to develop strategic “win-win” partnerships. This generally happens when you devise https://youtu.be/P0rkPqdibV8 plan where your skill sets and assets merge with the skill sets and assets of someone else.
“If you want to make waves, go to Harvard and get your Ph.D. If you want to make money, get your PhE—rush to your nearest bookstore and get Dan Kennedy’s new book—it’s like a four-year course in entrepreneurship!”—Al Ries, co-founder and chairman, Ries & Ries, author of Marketing Warfare and The 22 Immutable Laws of Marketing
Practice your empathy whenever you get a chance. Listen to people actively, putting prejudices and interpretations aside. Try to take up a contrary position in everyday communication especially when dealing with conflicts.
While it’s definitely possible to make selling your own products, it’s not as easy as many Facebook ads say it is. Sure, you can get lucky and launch an Etsy product that blows up, but in most cases, like building a blog, to make money on a product you need to spend a ton of time building an audience and organically expanding your online visibility. There are very few overnight successes.
Of course, just buying some real estate will not give you all of the above benefits. Different strategies in real estate will give you different benefits. For example, when you “fix and flip houses,” you are most likely not paying off a loan, thus you will not get the benefit of the “loan paydown” nor are you getting cash flow or many tax benefits. Instead, flipping relies mostly on the “forced appreciation” you get by fixing it up.
I love writing eBooks because you can make them as simple or as complicated as you want. The easiest way to make an ebook is to simply write it in some type of word processing application (Word, Pages, or Google Docs) and export it as a PDF.
When it comes to self-improvement, investing 10 percent of your income in yourself will yield a 100X or more return on that investment. For every dollar you spend on your education, skills, and relationships, you’ll get at least 100 dollars back in returns.
It was during this time that I realized I had to always make sure I had money coming from different places, so I freelanced on the side of my day job and worked on a blog in the hopes of making some money from it someday.