Commonly held wisdom tells us that it is a very good idea to save 10% of what we earn.
Many popular authors of financial self help books explain in great detail that after 20 to 30 years this 10% savings can likely help you retire from your day job. In fact, you probably know of such people that live in your neighborhood that have paid themselves first in this manner and over the years amassed considerable wealth.
If you are able to sit down today and adjust your living expenses so that you can live on 90% of your income to start saving 10% you are fortunate indeed. Especially if you happen to live in an urban area where the cost of living is continually increasing. Additionally, if you, as many people do, already give regularly to a local church or charity 10% of your present income that will only leave you with 80% to budget.
Most people think such a savings strategy to be extremely difficult if not impossible to follow. However if you read more closely to the advice given by popular authors, they are trying to tell you that you should use some of the 10% you are saving to improve your skills so you can earn more. Their message is to continually improve your earning ability in order to increase the amount you can earn.
Nobody expects NEVER to get a raise or earn more money. They may not believe that this could happen any time soon at their current job but certainly they realize that their life’s ambitions are not limited by their current situation. Unfortunately when they sit down and attempt to map out a financial strategy to get ahead they usually forget a basic fundamental economic principle. Learning new skills always means the ability to earn higher wages.
Even in something as simple as weaving carpets there are lousy cheap polyester carpets and very expensive Persian wool rugs. Some created by lousy carpet weavers at minimum wage. Other’s created by expert carpet weavers that have studied their craft and honed their skills in modern factories.
Most people think earning more money means that they have to have a second and third and maybe even fourth job. How depressing! What they really need is an opportunity to earn more income and then have the income grow exponentially. In financial terms this type of income is usually called residual income.
When you go to an investment advisor they always like to explain that if put X dollars in an investment and reinvest the interest then it will begin to grow exponentially. If you practice this type of investment strategy it can lead to a very large sum after 20 years. Especially if over those years you contribute monthly a small amount to cause the principle to grow.
Network Marketing is a business opportunity that can lead to exponential income growth or residual income. You begin by starting a part time home based business usually called an independent distributorship that earns income by recommending the products to others and earning commission income on those referrals.
The key to exponential growth in Network Marketing that is important to understand is simply this: You always introduce the business opportunity to others when they buy the products because you are expecting to find some people who will also be interested in the business opportunity. Those people you train to do the same as you are doing. Recommend and introduce.
By sponsoring new distributors and teaching them to do the same a downline is created. Network Marketing companies like Tahitian Noni International pay 53% of retail cost of the products back to the distributors. This 53% is divided up amongst the distributors who had a part on recommending the products up to 8 levels deep in the downline. Like the interest investment, the goal is simply to continue recommending the products to others and training those whom you sponsor as new distributors to do the same. This activity ensures that you will experience exponential growth in your organization.
Over time this simple duplicatable activity will lead to a very large group of people who are doing the same work of recommending the products every day in your organization. Overtime this also can lead to very large commission cheques because of the exponential growth.
By investing in yourself a small portion of the 10% savings to learn the art of network marketing you will have a new skill. This new skill will allow you to over a few short years to establish a business owned by yourself that’s income is only limited by the number of people you introduce the business to as well as train them to do the same.
Since there are considerable tax advantages to owning a home based business you should also consult a tax consultant for information for your province or state. Usually the tax savings amount to over 10% of your income so if you’re careful you can create a business that breaks even in the first month.
Success is not hard. It just takes a bit of work focused on the right activities, activities that create income.
About the author:
Ted Sullivan is a Tahitian Noni Independent Distributor who is helping others succeed at Network Marketing. He owns http://www.nonijuiceint.ca/
Have you ever tried to make money online and failed?
Did you follow your guru's advice and still fail?
Here's an alternative...
Have you noticed that when someone’s trying to sell you something - such as a system for making money - they always make it look far easier than it is?
Let’s look at two Internet businesses, almost as diametrically opposed as it’s possible to be – Internet Marketing and Forex Currency Trading.
You’ve probably heard the old Internet adage – build a better website and they will come. Well it ain’t true!
You could put up a site advertising dollars for a dime and they still wouldn’t come – because they wouldn’t know where to look!
Let’s look at what you need to have in place in order to build a successful Internet marketing business.
First of all, you need a product. If you’ve been reading the recent Internet marketing blurb you’ll know you need a niche product.
Actually, the new thing is sub-niche but whatever they call it, you need a product for which there is high demand but low supply.
Finding a suitable niche is the hardest part of the whole process but let’s say you have a killer product, what else do you need?
The List.
Ask any Internet marketeer and they will say that the most important part of your business is your opt-in list.
For people to join your list you usually have to give them something of value such as a free eBook or report on a subject related to your main product line.
To keep them interested, you need to keep in touch with them offering them additional information, advice and tips.
Website.
To promote your opt-in list you need a website (although there are other ways of promoting your list, too) with features that will encourage people to sign up to your list.
You also need a killer website with killer copy to describe – and sell - your killer product. This may or may not be the same as the one you use for your opt-in list.
Killer copy.
Maybe you’re not a good copywriter. There are many eBooks on the subject that can help you or you can pay someone to write copy for you.
You need a domain name, preferably one with some relation to the product but good domain names are becoming increasing difficult to find.
Ads.
To get people to visit your website in the first place you need to register it with the search engines.
SEO (Search Engine Optimisation) is an art in itself. You can mug up on the subject or pay someone to do the job for you (but be aware that not all experts are!).
You might also want to place ads for your list in newsletters and ezines. The better ones will charge you although you might get a free ad in return for an article.
Autoresponder.
To automate your business you need an autoresponder. These clever devices automatically send emails to everyone on your opt-in list at predetermined intervals, and contain predetermined copy.
For example, you could create a series of emails containing, say, five parts of a free course to be sent one a day over the first five days.
Then emails would be sent once a week advertising a different product each time.
Whenever anyone signs up to your list they automatically start at the beginning so everyone gets the full cycle of marketing material.
We haven’t even looked at affiliate sales and marketing but I’m sure you get the picture.
The basic idea of selling over the Internet sounds good but there’s a lot more to it than most people realise.
Forex Currency Trading
Someone said that trading is the last frontier, the last place where men and women can stand up and pit themselves against the world.
It sounds very Wild Westish but most of it is true! You win or lose entirely by your own efforts and if you win, it’s like having your very own bank.
However, even owning a bank is a business and you still have to work hard to put the money there – and to keep it!
Unlike Internet marketing where all your efforts, in one form or another, are geared towards making people join your list and then selling them stuff,
Currency Trading has no customers. That’s worth repeating – with currency trading, you don’t need customers.
No customers means you don’t need any of the associated accoutrements that go with Internet marketing such as:
Products
Web site
Domain name
Opt-in list
Ads
eBooks and reports
Autoresponder
Any other marketing aids
So far so good, but what do you have to do and what do you need? Well, you need to know what currency prices are doing.
You can get a list of prices at the close of each trading day free from many web sites. If you want to trade during the day – intraday trading,
you can get real-time prices for a nominal fee from several data suppliers.
In the foreign exchange currency market, commonly called forex, you can get this data and charting software free from many web sites.
Okay, that’s the easy bit. In order to trade currencies, you need to analyse the data and determine which way price is heading.
In other words you need a system and this will require study and dedication.
There’s lots of other stuff you have to know, too – trading terminology, margin, leverage, money management, order types, trader psychology and more.
But all of this is available in eBooks and courses and on the Net.
You also need some money upfront to fund your trading account. With forex you can begin with as little as $300-500 although you would be advised to start with more.
So while you don’t have the ongoing quest for new customers, new products and inventive sales techniques,
you do need some sort of education or training before you begin and you need discipline while you’re trading.
For more information on getting started with forex currency trading, go to:
OKPAY
Making money takes work whether it’s online or off. Make sure you know what’s involved before you start and remember that the more you put into a business, the easier it gets.
About the author:
From the author of the hit Forex Currency Trading book - "Mechanical Discretion", Amin Sadak has created another masterpiece for Business Opportunists.
His new teaching manual "The Affluent Desktop Currency Trader" provides an alternative for people looking for online business opportunities.
Access to foreign exchange (forex), the most extensive market on the planet, is generally through an intermediary known as a forex broker. Similar to a stock broker, these agents can also provide advice on forex trading strategies. This advice to clients often extends to technical analysis and research approaches designed to improve client forex trading performance.
Financial institutions are generally the most influential in the forex market through high-volume, large-value forex currency transactions. Historically, banks enjoyed monopolistic access to the forex markets, but through the Internet, any forex speculator can also enjoy 24 hour access to the market via a forex broker.
Secure web connections today allow many forex traders to work from home, where ready access to news and other technical advice informs decisions on what forex positions to take. Similar moves are being made by stock brokers, who are also moving out of banks and other traditional institutions.
Your needs in the market will influence your choice of forex broker. Online forex brokerage firms, known as houses, provide those new to the forex market with detailed research, advice and simulators to learn how to use their forex trading tools. The experienced online forex trader is catered to by other broking houses, with in-depth advice, but less focus on forex trading instruction based on the assumption that you are familiar with the forex market. To make an informed choice, it is advisable to trial several differing online forex broking houses and their trading tools to find the best fit for your needs.
