Real ideas

Latest Post



Jim Rohn is one of the greatest sales man and speaker to walk the earth, and these three principles I learnt from his tapes and books.

The issue of surviving through the start up process of a business has been a real challenge for entrepreneurs especially younger people. I learnt these principles listen to his tapes and they have helped me improve. Mr Rohns life was transformed from rags to riches immediately he changed his personal philosophy and applied what he learnt from his mentor (John Earl Shoaff) over the years. Before his death in 2009, he had gone ahead to teach, inspire and use his principles and philosophies to transform countless number of lives. so don't miss a line in this article here are just three principles that took him from a farm boy to millionaire in less than two years.


1.  “increase your value to the market and your income will increase”
Mr Rohn always laid emphasis on this during his seminars. Your value is a function of what you know and what you can offer; it is not just enough to kick start a business without having an in depth knowledge and proper planning of what you want to go into. You need to sit back source for knowledge, ask questions, do the neccessary researches and background study of the business at hand. Know more than average, in that start up of yours. Find out those that failed why did they fail, those that succeeded why did they succeed. This will help stir your business in the right direction.
Eventually you have already started a business, its never too late to gain more knowledge of  your industry, go ahead to  plan, apply new strategies and take action in improving your business.

Related: 

WHY MOST BUSINESSES NEVER START


2. acquire more skills
“As a farm boy I was always broke, until I learnt the skills of sales” said Mr Rohn. It is important as entrepreneurs to understand that every start-up depends on the skills of those heading it at the initial start and at such if the individual is limited in skills especially in terms of basic tech skills, it will cost the business some money to outsource or train people, to cover such roles. Mr Rohn went ahead to increase the number of skills he had from recruiting to organizing and I thought on this for any start up to be successful at the beginning the head must have leadership skills, organizing and recruitment skill because without this skills there may be limitations and this may lead to the loss of potential customers. 




Looking to up your financial life and escape debt? or an entrepreneur seeking breakthrough in finance here are five all time hottest financial books.

NUMBER 5

The Millionaire Next Door


Through research into U.S. households with a net worth of $1 million or more, authors Thomas J. Stanley and William D. Danko identifies most individuals as Under Accumulators of Wealth (UAW) who have a low net wealth compared to their income.  They then provide advice (like take skimpy vacations) to help people achieve a higher net worth compared to their income.




As an entrepreneur, one should be able to assume, manage risks and create strategies to survive a tricky economic downturn. The ongoing financial meltdown is bound to have an impact on businesses and numerous individuals for a considerable length of time to come. To the individuals and businesses that were ready, this recession would turn out to be the best of times and a terrible period to those unprepared.
The challenge is to be forceful and innovative. Business people who survive and flourish amidst difficult times must have the capacity to look past the present, to conquer the imperatives and traditions to see the firm from another point of view and to do business in an unexpected way.









CUT SOME INVESTMENTS AND FOCUS ON BUILDING YOUR BUSINESS
It is advisable to leave all investments and focus on your business in order to be able to adjust to the financial changes that happen during the recession. For you to accomplish that, your business should be your top priority. If the Business remains solid through the economic meltdown, then it will become more grounded with the recuperation of the economy and you will have the capacity to purchase back more investments than solid.


CURTAIL POINTLESS COST
Another survival technique is to curtail all superfluous costs of doing business. To survive recession as an entrepreneur, you need to be cautious about your business expenditures. Parties, rewards, excursions, motivating forces and some other things that have no immediate effect on your organization’s development should be avoided.






GAIN STRONGER CONTROL OF YOUR CASH-FLOW
Monitoring and maintaining a positive cash-flow during recession is vital. Ensure that your monetary statements give data that is auspicious, pertinent and precise. Have the capacity to venture where you will stand three months ahead of time. Also, work closely with your clients to ensure they meet their credit commitment.


Related: WHY MOST BUSINESSES NEVER START


TAKE CARE OF CURRENT CLIENTS
Customers are usually referred to as the boss of the company and an organisation’s most prominent resource. Without them, your business would cease to exist. Research done by an advertising specialist showed that it cost more exertion and assets to discover new clients than to hold existing ones. During this recession, set up a close relationship with them and manage their complaints and issues with utmost priority.


FOCUS ON CUSTOMER SERVICE

Exceptional customer service will ensure clients return and purchase from you regardless of the fact that circumstances are difficult. Of all the business subsidence survival methodologies that exist, concentrating on the client is the best procedure that can promise long haul strength for any business. On the off chance that you neglect to deal with your clients and meet them at the point of their needs, then every other recession survival procedure you actualize will be invalid and void.

Related: TIPS FOR SURVIVING ECONOMIC RECESSION




"A goal is a dream with a deadline" - Napoleon Hill.

Welcome to the last quarter of the year (2016), time really does fly. I cannot believe its November already. Good thing about this is that it is a time to reset. A time to plan ahead. A time for a new beginning in 2017.
At the beginning of the year, it is common for people to make new year resolutions. However, a couple of weeks or months after, these resolutions are quickly forgotten and at the end of the year you are exactly where you started off. A major reason for this is that resolutions are easily forgotten because they lack time frame for execution. What then is the difference between a goal and a resolution?.

For example, a resolution is - "I will lose weight in 2016" however a goal is "I will lose 15kg by the 30th of November 2016.

So here are 5 financial goals we need to set in life.

Related: 4 COMMON MONEY BAD HABITS

PAY YOURSELF FIRST

If you don't have savings, this is a good time to start. The key thing is to save before you spend. Create a budget to determine how much you have available for savings. You may thinks that you don’t earn enough and that when you earn more you would start saving. Well the thing is that if you can’t save when you have little you won’t be able to save when you have alot. It is also important to create an emergency fund.

PAY OFF YOUR DEBT

If you are in debt, its important to be determined to be debt free or to start working towards paying off your debt before the end of 2016. Being in debt is like carrying a heavy luggage on a long journey. Whilst you may reach your destination, debt hinders your progress and may delay the process significantly. No matter how large your debt is, you can pay it off. The key thing is to start and to start small and build up.






Why do people fail financially? What does it take to succeed financially? Financial success is not the exclusive right of some but a dream achievable by all. Listed below are bad money habits which are some factors responsible for the financial failure of people. 

INCORRECT BELIEFS ABOUT MONEY

 The birth place of wealth is in your mind. There are basically two beliefs about money – POSITIVE and NEGATIVE. Your belief about money is positive when you have an ABUNDANCE MENTALITY, which is believing that there is enough prosperity for everyone on earth. You being poor is not because there isn’t enough prosperity for everyone but because you limit yourself mentally.Negative belief about money is when you are equipped with a SCARCITY MENTALITY that the wealth
available is not enough for everyone. The mind becomes preoccupied with thoughts of you not being able to afford something rather than focusing on how to get it.

Related:3 Ways Budgeting Can Make You Richer

 PROCRASTINATION 

Money will not come to you on a platter of Gold. You have to cultivate the discipline of execution just like Tito Philips jnr. (Entrepreneur and founder of Differentiate Online) because this is the ability to get something done when it should be. It is the ability to take action to make your financial goals a reality. Many people fail financially because of their poor work habits. Procrastination is the habit of pushing important work forward with the mind of getting it done later. What you must remember is this;
Today was Yesterday’s Tomorrow and Tomorrow will be another Today. What does this tell you? All you have is NOW, not Tomorrow, so your job is to make the most of it. 

Related:FINANCIAL LITERACY: THE ROAD MAP TO FINANCIAL FREEDOM

NO FINANCIAL GOALS

 Not having financial goals is one of the factors keeping many poor. How can you expect to grow your income if you do not have a precise figure in mind? Just confessing that you need more money is not enough, you must be as specific as possible with a particular figure or amount in mind. Why is it so? The human mind only works with what it has been fed. The more you feed it through your thoughts, knowledge and words, the more focused it becomes. The less you feed it, the more confused it becomes. Goals are how you help your mind to become laser focused. It is how you gain clarity which is a necessary requirement for action. Those who set financial goals with clear figures often end up having their goals achieved. If you don’t know where you are going, how do you get there? Financial goals give your financial life a direction.

Related:TURNING TRASH TO CASH

 NOT HAVING A SAVINGS HABIT 

All that you earn is not meant for consumption. The classic book by George. S. Clason. The Richest Man in Babylon puts it this way pay yourself first. Money saved is the seed you plant in order to reap more in the future. Bad saving habit leaves you with less capital to invest (plant), when you do not sow, how then do you reap?

MKRdezign

Contact Form

Name

Email *

Message *

Powered by Blogger.
Javascript DisablePlease Enable Javascript To See All Widget