Building multiple income streams for your household now days is not an extravagance, it’s now a need. If the high rate of unemployment and mounting job losses have taught us that nobody’s job is safe.
Regrettably, for a great number of people their solitary source of income is from their job/ or their an owner of a traditional business, which can be a hazardous way to live. While some couples may be more fortunate and have a spouse bringing in money each month, but they are still relying on a job for their livelihood.
https://i0.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2019/09/Growing-Money-Multiple-Income-Streams.jpg?fit=600%2C200&ssl=1200600findnetshttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngfindnets2019-10-04 23:18:292019-10-04 23:18:2910 Great Reasons You Should Have Multiple Income Streams
https://i0.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/11/Stop-Money-From-Slipping-Through-Your-Fingers.jpg?fit=600%2C200&ssl=1200600Nicky Canehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngNicky Cane2019-05-10 18:01:342019-05-10 19:27:19Why You Should Be Tracking Expenses Yourself
https://i0.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2019/01/Fiat-Currency-Worlds-Money.jpg?fit=600%2C200&ssl=1200600Dave Canehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngDave Cane2019-01-06 08:30:532019-01-07 18:41:19What Control Do You Have Over Fiat Currency?
If you have read Rich Dad’s the Cash Flow Quadrant by Robert T. Kiyosaki, you will realise that there is no wrong sector. However, if you can jump to the right side of the Cash Flow Quadrant, then you can create your life. You can have more Freedom with More Time and Money.
https://i0.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/11/The-Two-Economies-Effort-Active-Passive-Value-Based-Economy.jpg?fit=600%2C200&ssl=1200600Nicky and Davehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngNicky and Dave2018-11-27 18:38:512018-11-27 18:38:51About the Active & Value Based Economies
https://i1.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/11/Understanding-the-Ws-of-Running-a-Business.png?fit=600%2C200&ssl=1200600Nicky and Davehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngNicky and Dave2018-11-22 19:10:292018-11-22 19:10:29You MUST Understand the W's of Your Business
If you know me, you know I’m fairly frugal. I don’t go clubbing, spend my time shopping, eat in expensive restaurants, or get takeaway very often.
However I do spend my money on a new car and Apple MacBook every 6 years or so. That’s not exactly that traditional picture of frugality. But go with me.
The truth of the matter is that I’ve never been shy about investing in my business. When I first got involved in online marketing, I invested $40,000 of my life savings into training, mentoring and getting fully positioned with a company.
It was scary and I regretted it for a minute or two in those early days. But I always knew that it had to be done that I had to make the ultimate investment in myself, my business and my future if I was going to live the life I knew was within my reach.
Investing in My Business, NOT My Next Hair Colouring …
Now, looking back, I’m positive it was the right decision – that it was the only decision. I’ve kept that investment-first mentality since day one.
But for me, personally? Frugal, frugal, frugal.
Often I go out of my way to find a gas station that costs less per litre. On more than a few occasions, I went so far as to dying and cutting my own hair. I still do it sometimes because I admit that I hate spending money on my hair.
When I stayed in hotels, I’d always opt for the cheapest option available. Then I washed my own clothes in the bathtub or sink. If I could save a dollar I would, happily.
I attribute a lot of this frugality to my parents and my upbringing. I’m the eldest of two, and we grew up on acres with a large number of animals. That came with lots of chores.
From a very young age, my parents taught us the value of hard work and being responsible with our resources and our savings. These were some of the most valuable lessons I’ve ever learned and lessons I’m confident carry with me forever.
Embrace the Spend and the Success
So back to you and what all of this means as you’re building your business…
My Advice is Simple: Spend Money.
Embrace that you’re spending money. I see too many Entrepreneurs who are too attached to their cash reserves when they first start out. I get it—they’re most likely frugal or just plain risk-averse, which keeps them taking chances. The reality? That mentality holds people back.
In the beginning, I was incredibly frugal, but when it came to investing in my business, I opened my wallet right up. I didn’t think twice about spending.
I wouldn’t spend extra for a professional hair cut and colour, but I’d spend $4,000 without batting an eye. Because you’re reading this article, I know you’ve properly already invested quite a bit in your business.
That’s great. I hope you’re digging in and learning, growing and evolving your mindset and your business best practices so you can gain that critical edge.
But if you don’t go out, spend the money and do it, it doesn’t matter.
You’re going to have all of these great concepts and theories swirling around in your brain but nothing to show for it. The money comes when you invest and flip that switch. And it doesn’t come a moment before that.
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And when you DO start investing in your business! Be patient. If you spend $1,000 on advertising and only make $100 back don’t panic.It’s money well spent if you learn and grow from the experience.
If you can look at that traffic and those conversions. And see what worked and what didn’t. You can then improve your next campaign and make more money on round two.
Keep repeating that pattern, and soon enough, you’ll have high-performing, high-converting campaigns campaigns that catapult your business forward.
So, in short, shake off your money fearsand concerns about letting go of whatever cash you have on hand.
Whether it’s $100 or $1,000 or $100,000, be open to rolling the dice and possibly losing a little or a lot. It’s par for the course. You need to test drive what you’re learning and you need to gain the valuable lessons that will drive your business ahead.
Remind yourself over and over that, as long as you learned something, it was money well spent. That’s how I look at it, and that’s how I’ve looked, at it from day one.
https://i2.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/11/Why-It-Pays-to-be-Frugal-in-Life-but-Never-in-Business.jpg?fit=600%2C200&ssl=1200600Nicky Canehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngNicky Cane2018-11-16 19:17:042018-11-17 15:14:35Why It Pays to be Frugal in Life but Never in Business
“Beware of little expenses;
a small leak will sink a great ship.”
~ Benjamin Franklin
If money routinely slips through your fingers …
One of the best things you can do to forever change your financial situation, is to start categorizing your money as it flows into your life.
You put it into different categories, with very specific purposes.
The big mistake most people make in society and why most remain relatively poor their entire lives is because when money does show up, they give it no purpose, and they have no rules or discipline.
It might offend some people to hear me say this, but most people’s financial problems are not a result of them not making enough money.
They’re a result of them being poor money managers of what they have. For proof, just look at how the average lottery winner ends up: here.
Most end up broke or going bankrupt, because they’ve never been taught properly how to manage money, and they have poor financial habits.
A simple mistake most people make is putting all their new money into just one category; ‘the money I have available.’
Whether they need money for food, groceries, mortgage repayments, the kid’s tuition, the mechanics bill, etc. It doesn’t matter. The person reaches into their bank account and takes the money out when they perceive a need.
What they should do instead… is categorize their money as it flows into their life.
A % of their money goes to an account for everyday expenses.
A % goes into an account purely for savings, where there’s a penalty for each withdrawal.
A % of their money goes to an account for fun activities and holiday expenses.
Another % of their money goes to an account specifically for investments.
I gave my money a purpose. I set up different bank accounts for different purposes.
My main bank account was this saving /investing account.
My other bank account is my ‘everyday expenses’ bank account, and I starved that bank account. Rarely was there ever more than $200 in that account.
Till this day, I still do a variation of the same thing.
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Let’s be honest, when it comes to planning your finances it can seem like an extra chore at best.
Building a solid financial plan is built on uncertainty, fear and confusion in most cases.
In the end, these emotions make you want to avoid planning for your financial future and settle for a life less than. Financial literacy education is a life-long process and requires constant attention.
https://i0.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/11/Stop-Money-From-Slipping-Through-Your-Fingers.jpg?fit=600%2C200&ssl=1200600Nicky and Davehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngNicky and Dave2018-11-10 21:41:272018-11-10 21:49:49If Money Slips Through Fingers... Try This Method!
Implementing business systems is one of the best things you can do for your company. Today, we will be talking about the benefits for entrepreneurs and small businesses when they perform a systematic approach to their company.
For example, you need a system on “how to handle inbound phone calls.”
Now you must be thinking what kind of moron needs a complete system for answering the phone. Turns out, you are probably the moron for thinking that a system isn’t needed. Every part of your business should have a system in place.
These systems need to properly designed and applied, so you can benefit.
12 Benefits You Will Get If You Implement Business Systems in Your Company
1. Your Company Will Meet and Surpass All Customers Expectations
If you use the systematic approach, you will have a specific marketing system that will have a subsystem to watch the expectations and satisfaction of your customers.
This subsystem will analyze, measure, compare and give you possibilities to make specific conclusions about what your customers want, and what they just don’t want but you are doing.
In such a way, you will have constant information about things that will need to be improved and what is more important you will know how to improve them most properly.
2. Forces You to Think Through the Process and Improve It
For example, a “simple” phone answering system addresses key questions including:
What customer information should you collect when they call (e.g., name, email address, etc.)?
Where should this information be inputted (e.g CRM database, forms)?
What other questions should be asked to the customer?
Under what circumstances should the customer be transferred to someone else? To whom should the caller be transferred under various situations?
Should the call be answered by a live person or immediately go into a calling queue? If live, what hours should it be staffed?
How many times should the phone ring before it goes to voicemail?
What should the key voicemail prompts be (e.g., press 1 for sales)?
What should the voicemail message(s) say?
What message should the listener hear when waiting for either a live person or voicemail?
What is your company’s follow-up procedure for voice messages (e.g., who will return call and by what time)?
What scripts will you use to make sure that customers get compelling and consistent answers to their questions?
In fact, these are just some of the questions that came up in building this system. As you can see, when you focus on this one activity, you are forced to really think through it and make the best decisions.
3. Improved and Consistent Performance
One of the results of the system development process is creating flowcharts that show each piece of the system. These flowcharts are given to all the relevant employees and posted on their walls.
This allows all the employees to follow the proper procedures, giving your company consistent, high-quality performance on the relevant tasks.
Imagine what will happen if you don’t have a system that will make the structure of each activity and task for each of your staff members. All your staff members will work differently at each repetition of the job and because of that will also give entirely different results.
Therefore, business systems should ensure quality in the realization of all activities each time with same or better quality than previous.
4. You Will Improve Employee’s Performance
Productivity is the work done for a specified period. If you complete the same job faster, the productivity will be higher.
If any business activity is finished faster than last time your employees will become more and more productive. The productivity will also increase your employee’s performances.
The goal of the system is to enable proper education and opportunities to all staff members to make them able to complete their work more efficiently and effectively.
5. Your Company Will Reduce Costs
If you don’t have repeat activities several times to finish them in the most quality way, you will dramatically cut costs due to fewer mistakes in your company.
All your tasks must be done with the higher possible quality for the first time.
6. Will Increase Profitability in Your Business
Because of all previous benefits we have mentioned here, you will increase the profitability of your company. By improving business productivity and performance you will reduce your costs.
But, it is not all.
You will satisfy the expectations of your customers, delivering the same or better results every time. You will have a better internal organization and constant problem-solving process. So, you will simply increase the profitability of your company.
7. Helps You to Easily Come-up With and Implement New Ideas
Once you have the system flowchart, it’s very easy to come up with new ideas. Ideas like “What if we bypass this activity and go straight to this?” become common.
And implementing these ideas is simple since you can easily pinpoint which elements in the flowchart are affected.
8. Will Become an Organized Business
The only thing that can provide the quality of the organization in the company is business systems. Without adequate systems, it will be much harder for anyone to organize themselves. Because of that, they will have many difficulties to do their tasks in the way they need to do them.
9. Increases the Equity Value of Your Business
Once your company has lots of systems in place, it instantly becomes much more valuable to an acquirer. That’s because the acquirer knows your business will run smoothly after acquisition.
They also know that new hires can quickly be added into the system so they can expand your business. Further, the systems you developed could help the acquirer expand their own business.
10. Quick Integration of New Hires into Your Business.
Does your business plan call for hiring new people? Systems and flowcharts make it very easy for new hires to see their place and roles within the organization and hit the ground running.
11. Your Company Will Solve All Problems on a Consistent Basis
You are designing business systems in such a way so they bring feedback on a continuous basis.
The feedback will send you signals about all possible problems that have occurred. Because of that, you can quickly solve them. Problem-solving process means change for your company, and change is an improvement.
With business systems in place, you will have possibilities to continuous improvement your systems. In such a way, you will also improve your overall company.
12. Allows You the Entrepreneur/ Manager/ Owner to:
1) Take More Time Off, and/or
2) Spend More Time on Higher Value-Add Activities.
Creating systems is classic “working on” versus “working in” your business. Once the systems are created and in place, the activities are performed nearly on auto-pilot. You don’t have to waste time and energy in performing and/or actively managing them.
So, you need to start thinking about every key aspect of your business as a system. For example, do you have a system for:
Your Internet Marketing
Production and Sales
Landing pages that are designed to maximize conversions
Handle new leads and build rapport
Follow-up – e.g. Phone Calls or Email Campaigns in place based on actions that customers take online
Human Relations – e.g. hiring
While building systems takes time and often does not put immediately cash in your pocket. The 12 key benefits above will pay for themselves over and over again and are definitely worth doing.
So, you need only to spend several hours in the next few weeks to set up a systematic approach. Then, just follow the rules, or better-said working procedures as a result of your newly created business systems and improve as you find possibilities for improvements.
So start systematizing your business today!
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https://i1.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/10/Automation-from-Business-Systems.jpg?fit=600%2C200&ssl=1200600Nicky and Davehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngNicky and Dave2018-10-29 17:41:402018-10-29 18:34:42Implement Business Systems in Your Company & Benefit!