There are hundreds of thousands of small business owners within the U.S. and millions around the world; they form a vibrant core to many national economies. However, a large portion of small businesses do not survive. According to the U.S. Small Business Administration, only about 31% of small businesses survive for at least seven years – never mind making it big.
Rule No. 2: Pick a boring business. Everyone is always on the lookout for “the next big thing.” The next big thing is finding rare earth minerals on Mars. That’s HARD WORK. Don’t do it! Bryan picked a business that every merchant in the world needs and he also knew that it was an exploding business because of all the online stores that were opening up. You don’t have to come up with the new, new thing. Just do the old, old thing slightly better than everyone else. And when you are nimble and smaller than the behemoths that are stuck with bureaucracy, you can often offer better sales and better service, and higher touch to your customers. Customers will switch to you.
Clinton is the Co-founder/Chief Operating Officer of Influencive and a writer at The Huffington Post and Thrive Global. He’s a two-time G20 YEA Entrepreneur representing Canada and advisor to several businesses and entrepreneurs.
Millionaires are paying more for personal services than they ever have. If you can solve a problem that people and companies are willing to pay for, you can make an endless of money, Siebold says. He says it’s a perfect time for many people to start lawn care services, maid services, handyman businesses, pool cleaning companies, or grocery shopping services.
Of course, you should be aware that an aspiring investor can legally make a million US dollars in one year from the scratch by investing in stocks and bonds. All you need to do to achieve your target is to pool together enough start – up capital (investment capital) and then work with a professional stock broker who has successful experience under his or her sleeves when it comes to selecting stocks that can do pretty well in stock market.
To inspire you, we looked for people who have become rich. Just how did they do it? For some, like Julie and Bill, everything flowed quickly from one good idea. Others spent a working lifetime patiently building wealth. We also asked what they’ve done with their wealth — and what advice they have for others. We demonstrate how to find the cash to invest your way to millionaire status.
Only one in every 400 U.S. households makes more than $1 million a year. But one out of every 15 U.S. households has at least $1 million in assets. (This measure includes things like stocks, bonds and investment properties, but it doesn’t count equity in the home you live in.)
Investing can be intimidating, especially if you are new to the process. It’s best to understand from the beginning that while you can make a fortune through investing, others can make a fortune through you as well. In other words, seek low-cost investments, especially if you’re young and have time on your side. High brokerage fees or annual investment expenses can decrease your annual earnings by 2% or more. That may not sound like much, but it would decrease your earnings in the example above to $422, 726, a loss of $252, 488 or 37%!
The MOBE guys are your best friend until they discover you’re not buying their scam. Good for you no going any farther. Losing $49 hurts, but not as much as losing a few thousands. I’m glad you found my post on My Millionaire Mentor helpful and saw the truth before it was too late.
Interest on debt, whether it be credit card debt, auto loans, student debt, mortgage debt or any other kind of credit, is like a hole in the bottom of your savings bucket. Each month, some of your hard-earned money drips out the bottom in the form of accrued interest. The worst part about interest payments is that you get absolutely nothing in return for that lost money. Paying off all debt, starting with debts with the highest interest rates, should be one of the first steps in the journey to becoming a millionaire.
When you promote products, you don’t sell your own. Instead, you become an affiliate and market the products of others. When customers on your site click on a link to buy, they are taken to your affiliate partner’s site to complete the transaction. You get a commission for every completed sale. You don’t have to worry about shipping or customer service!
My name is Marcus Person and I came across this wonderful add and I really wanna make something of my self now im following the the steps and I’m looking for mentors I jus turned 24 I feel I’m wasting time and I wana change in mylife if any one can help me im trying my hardest if anyone is reading this can u please help me I can be reached Person.firstname.lastname@example.org and my phone number is 313 516 7391 can some one help me accomplish goal I want to go to school for Business & Management. I graduated with a 2.8 GPA.I have a twin and we jus wana make something out our lives I want to Own my own businesses A Laundrymat in lowcum in areas try to help out and own a Landscaping business & Constriction business. Can anyone help me thank you so much merry Christmas to All….
[Sidebar: And that’s why there are so many fake positive reviews on the MTTB system. All they are claiming how successful they are now while desperately trying to pitch you into buying the same program.]
If that seems too hard, check out sites like AirBnB, which help you rent safely and ensure you get paid. I used this service when traveling in Switzerland with a friend and can confirm it is a great service.
A little long winded but just stay with me… My wife and I came to the US (to a small farm community in northern CA) as an immigrant 35yrs ago with 3 young kids (1yr, 2yr, 3yr olds), no English speaking skills, just a 3rd world high school education (which is probably equivalent to an 8th grade education here), no marketable skills, and just enough money for the plane ticket here and a 4yr old car when we got here. We first stayed with my sister in law and her husband for about 4 months while my wife and I worked in the fields in the summer harvesting fruit. After scrimping and saving we found our own old and broken down rental out in a peach orchard – it was the only one we could afford that would allow us to save. We continued working in the fields each summer thereafter and, as our 3 children grew , they helped working in the fields on the weekends and summers. Each child started helping out at about the age of 5 yrs old, so we could increase our earnings. The younger ones would play in the field where we worked. The farmers didn’t care, so they let us bring our kids. Over time, we, all 5, would work in the summers harvesting fruit and getting paid for each box filled. We were the slowest among the workers and filled the fewest boxes, but we persevered summer after summer. Then about 4-5 yrs after arriving in the US I got a farm job for the off season but on days it would rain, I didn’t have any work at all, so no pay. We never had health insurance so we tried hard to stay healthy. But at least I was able to earn some more money in addition to the summer earnings. So there we were, about 4-5 yrs after arriving, working in the fields, I made minimum wage with my farm job and my young family making a combined of less than minimum wage in the summer (remember how I said we got paid piece work and filled the fewest boxes?) – essentially, one min wage job and another 1/2 min wage job. But we persevered. Our kids would start working weekends at the start of summer and miss the 1st 2 weeks of school at the start just to get that extra income before the summer came to a close each year. But we all pulled together, saved for enough of a down pmt on a small house in town so we could afford the mortgage pmt and still be able to save. We splurged here and there (eating out a few times a year, buying a few nice things and keeping them FOREVER (new TV, new car, new furniture, new appliances), new clothes for school each year (never the trendy ones though – they cost too much – the kids knew how hard it was to earn a buck so they were happy for just the new clothes even if they weren’t trendy). Needless to say, we didn’t 1) buy morning coffees, 2) go out to lunch, 3) take vacations, 4) Waste stuff only to have to buy a replacement, 4) waste money on junk food, only the nutritional basics (we just couldn’t afford to do that AND save some for when there was no work due to rain). We ran into some medical problems, needing a few surgeries that ended up costing as much as a new car each time. But we needed it, didn’t have insurance, and had the savings so we had to pay. But we still persevered. We lived simply and saved simply. We didn’t get into investing in anything other than CD’s. I couldn’t even begin to understand that stock stuff so I avoided it. This continued for over a decade. Then my kids were in high school and got jobs at fast food so they made min wage – a step up from the field work and we saved their earnings as well. They would work 2 jobs in the summer – fields during the day and fast food during the evening/night – it was tough but it was only for the summer. As time went on, our WHOLE FAMILY COMBINED, FINALLY STARTED EARNING maybe about 2/3 of what an elementary school teacher earned (my uncle was one and I remember him alone earning more than our whole family earned). But we persevered. While my kids were in high school, we saved and eventually bought a bigger and nicer house in a nicer neighborhood and eventually paid it off. I still made min wage, wife worked doing seasonal work, kids help on weekends/summers. My kids went to a local community college and drove from home each day – the traditional going away to college was WAY TOO EXPENSIVE. All 3 still worked weekends fast food and both, fast food and field work, during summers. I still earned min wage and my wife worked seasonal during the summers. With a few scholarships, financial aid, we were able to pay for college. They then transferred to a nearby university, still drove each day from home to college, while maintaining the weekend/summer work. Again, with a little from scholarship, some financial aid, and working ALOT we paid for their college. Upon finishing college, all 3 moved out to where the jobs were. I still worked min wage, my wife, seasonal work. But we saved and didn’t waste it and lived simple lives. We then bought a bigger house, paid cash, in a nicer neighbor hood (with doctors, dentists, and pharmacists as neighbors) but we still live the same, no reason to change lifestyles. We also have enough for retirement but we continue to work. My neighbors don’t believe I work in the fields. I don’t care, it’s not my job to make them believe. To make a long story even longer, my WHOLE point is that you can STILL DO IT EARNING MIN WAGE! You don’t have to go as extreme as we did but you CAN STILL DO SOMETHING TO GAIN WEALTH! People who will NEVER have any wealth will only focus on excuses and come up with ALL kinds of holes and weaknesses in my story. People who WILL generate wealth will see the same story and come away encouraged to do better.
Are you an expert on a particular niche topic? Can you put together an overview of the topic and assemble some of the best resources on the topic from around the web? Then you can create topical hubs and get paid through sites like HugPages. You’ll make more by doing it on your own and creating your own niche site, but these established topic sites already have a built-in supply of traffic and tools to make content creation easier. In fact, creating a niche topic website is one of the most profitable online business ideas. Now, once you’ve established yourself as an expert within your niche, you’ll be able to make money from a combination of ad revenue, affiliate fees, and more creative avenues like online courses, other digital products, and one-on-one coaching fees from others who want to learn directly from your expertise.
If you have a crafty side, put it to good use. Visit the nearest flea market, Craigslist, or Freecycle.org and buy some interesting items, restore them, add your special touch, and resell them for a profit.