Tag Archive for: Investment

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 …

Financial Advisor - Investment ProductsNow, 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

Stop Money From Slipping Through Your Fingers

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 the truth is, I can teach you everything there is to know about Facebook PPC, Email Marketing, etc. We are here to help you, let us guide you through building your Online Business – Just Private Message Us at our Facebook Messenger link.

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.

Decision Making Style & ProcessIf 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 fears and 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.

That’s helped get Easy Online Biz Solutions to where it is today, and where it will be in the future.

Talk Soon,
Nicky Cane

You’ve been told to work hard, save money, get out of debt, and live below your means. That advice is obsolete if you want to get ahead in life. Robert Kiyosaki argues these exact points in his new book, Rich Dad’s Increase Your Financial IQ.

Which is the latest volume in Kiyosaki’s popular “Rich Dad” series of books – two books include: Rich Dad Poor Dad, and Rich Dad’s Cashflow Quadrant.

Robert T. KiyosakiThese best-sellers have motivated many people (including my family) to take control of their financial lives. Both of these books have been summarized for you here.

Here’s My Rich Dad’s Increase
Your Financial IQ Book Summary!

Financial Intelligence

“It is not real estate, stocks, mutual funds, businesses, or money that make a person rich. It is information, knowledge, wisdom, and know-how, a.k.a. financial intelligence, that makes one wealthy.” – Robert Kiyosaki. 

Kiyosaki divides financial intelligence into five “Financial IQs”:

  1. Making more money. This is measured by how much money you earn. If you make $120,000 a year, you have a higher Financial IQ than someone earning $40,000 a year.
  2. Protecting your money. Once you earn your money, you need to hold onto it. So you need to protecting your money, especially from taxes.
  3. Budgeting your money. “Being able to live well and still invest no matter how much you make requires a high level of financial intelligence,” Kiyosaki writes. This Financial IQ is measured by how much money you have left after expenses.
  4. Leveraging your money. This Financial IQ is measured by return on investment. Answer this: How well do you make your budget surplus generate more money?
  5. Improving your financial information. Financial information doesn’t just mean knowledge of basic financial concepts, but also means detailed knowledge of the investments you make.

Most of the book is devoted to exploring these five aspects of financial intelligence in detail.

Financial IQ #1: Making More Money

Many people fail to acquire wealth, Kiyosaki says, because they want the money without the work. He writes,“What many people do not realize is that it’s the process that makes them rich, not the money.”

online profits in bags of money

It’s by learning to make money that you can continue to make money.

In order to make money, you must also learn to control your emotions. You must learn to defer gratification. Don’t sacrifice your financial future for a few bucks today.

According to Kiyosaki, the key to making money is learning to solve problems. “In order to grow wealthy you must come to terms with the fact that problems will never go away,” he writes.

Identify the problems preventing you from wealth, tackle them head-on, and the money will follow.

Financial IQ #2: Protecting Your Money

Once you’ve begun to make money, you need to protect it from the 7 financial predators.

  1. Bureaucrats — We need to pay taxes, but it’s our job to (legally) pay as little as possible.
  2. Bankers — Banks are constantly trying to siphon bits of your money in the form of fees. It’s important to watch out for and protect against this.
  3. Brokers — Like fees from brokers they can chip away at your wealth. He cites brokers who “churn” accounts, buying and selling stocks frequently in order to generate more commissions.
  4. Businesses — “All businesses have something to sell,” Kiyosaki writes. As their job is to part you from your money; yours is to keep it. He suggests asking yourself whether any particular purchase will make you richer or poorer.
  5. Brides and beaus — Money plays an key role in any relationship. You must trust your partner, must reach an understanding about finances.
  6. Brothers-in-law — Here, his point is that in order to protect your estate from family members you don’t intend to share it with, you need to plan for your death.
  7. Barristers — Finally, it’s important to protect yourself from legal difficulties.

Even though Kiyosaki lists seven possible pitfalls, he offers little practical advice for coping with them.

Financial IQ #3: Budgeting Your Money

million-dollar marketing on a budget

There are two ways to solve a budget crunch: decrease your spending or increase your income. Either will erase a budget deficit, but Kiyosaki believes (as I do) that in the long run, increasing income is a better solution.

Kiyosaki explains that it’s important to think of a budget surplus as a fixed expense. If you decide to save 10% of your income, then make this ten percent a fixed item in your budget.

Treat it just as you would any other bill. Pay yourself first. It’s also important to refuse to live below your means – instead increase your means.

Financial IQ #4: Leveraging Your Money

leverage moneyI found this chapter to be the longest and most frustrating chapter of the entire book. It represents the core of Kiyosaki’s financial philosophy. However it’s not presented in a way that makes it relevant to the average person.

Leverage — borrowing money to increase the power of your own cash is good. If you have the financial intelligence to control the investment. But if you’re not in control of the investment, then leverage is risky.

“Most of the people being hurt by the real estate meltdown are people who were counting on the real estate market to keep going up and increasing their home’s value,” he writes.

They borrowed against their home’s inflated value, however had no control over whether the housing market rose or fell. This is a lack of financial intelligence.

Kiyosaki argues that one should use leverage to make low-risk investments, investments in which you, as the investor, have control. This sounds great, but he doesn’t provide any relevant examples.

He only discusses his recent purchase of a 300-unit, $17 million apartment complex in Tulsa, Oklahoma. I don’t know about you but I do not $17 million to invest into one investment. The average person might only have $17,000? or even $1,700 to invest with right now?

So we are left wondering at the end of this character on how does the average person make leverage work for them?

Financial IQ #5: Improving Your Financial Information

Financial Tools for Small Business
In order to improve your financial information, it’s important to:

  • Separate fact from opinion. Many gurus are happy to offer their opinions — “gold is going up!” — but it’s foolish to make financial decisions based on these. Base your decisions on facts.
  • Verify information. Don’t trust just one source of information, but seek confirmation from other parties.
  • Know the rules. If you don’t understand how an investment works, don’t make it. “Rules provide a valuable source of information about how the game of money is played,” Kiyosaki writes.
  • Understand trends. Trends are historical facts. Smart investors can use trends to make informed decisions. However, it’s important to note that trends do not project to future facts. Only to opinions about possible futures. Still, trends are valuable sources of financial information.

“Ultimately,” Kiyosaki writes, “it is not the asset that makes you rich. Information makes you rich.”

Though an overview of the five Financial IQs forms the bulk of this 200-page book, it’s actually the last fifty pages that hold the most value. Where Kiyosaki discusses “the integrity of money” and explains how to develop your financial genius.

Financial Integrity

I like the idea of Rich Dad’s Increase Your Financial IQ. The book fills a niche about which little has been written.

It’s motivational. It’s a breath of fresh air and offers a perspective often missing in personal finance discussion. I also like that his writing always motivates me to action, pushing me to pursue my goals.

However, there is #1 Point I Really Do Not Agree With…

Robert T. Kiyosaki

Diversification isn’t a hoax, or a scam. Other than Kiyosaki, it’s embraced by most financial authors I’ve ever read or heared about.

Diversification is a central belief of the modern portfolio theory. It’s backed by facts, not opinions.

In the book Kiyosaki says “The richest investor in the world, Warren Buffett, does not diversify.” His implication is that you should not diversify either, but that’s completely counter to what Buffett believes.

Warren Buffett quote make money while you sleep

For 99% of all investors, Buffett recommends diversified index funds. So It’s duplicitous of Kiyosaki to pretend otherwise.

I hope you enjoyed my summary of Rich Dad’s Increase Your Financial IQ. If you would like to read it yourself you can get a copy here.

As always with Kiyosaki, there were more golden nuggets of information to be found in his book to really get you thinking.

If you want or need any help connect with us on one of our social media platforms or just Messenger us (Private Message Us) on our Facebook Messenger link – m.me/EasyOnlineBizSolution

I will leave you with this message: ‘if you do what you love – money will follow.’

Talk Soon,
Nicky Cane

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“We don’t buy and sell stocks based upon what other people think the stock market is going to do
(I never have an opinion) but rather upon what we think the company is going to do.”

– Warren Buffett

I’m in awe of what Warren Buffett has accomplished. He continues to write, rewrite and break the rules of investing, business, and entrepreneurship. There’s an endless amount that can be learnt from Buffett’s decades in business.

One of the things that impresses me most, though, is that this is all Warren everything he’s accomplished has been on his terms. No one handed him the proverbial silver spoon.

He worked hard, thought outside the box and continued to innovate, elevate and accelerate. And it paid off big time.

That said, it didn’t happen overnight.

Warren has been building his fortune for more than 60 years. As chairman and the single largest shareholder of Berkshire Hathaway for nearly 50 years, Warren’s investment decisions have been carefully watched and highly scrutinized. They’ve also, though, been so on-point it seems almost unfair—like he has a crystal ball hidden away somewhere.

In my quest to understand Warren’s methods and processes, I stumbled on Jeremy Miller’s book, Warren Buffett’s Ground Rules. The author Jeremy C. Miller is an investment analyst for a mutual fund company and a 15-year veteran of the financial industry.
Warren Buffett with Author Jeremy Miller
Miller’s book is a must-read whether you’re a huge Warren Buffett fan or simply want to gain that critical edge in business and in life.

Ground Rules covers Warren’s first 14 years as a true business mogul, including his tenure at the helm of Buffett Partnership Limited.

While there’s lots to dive into in Ground Rules, what I find most fascinating is the fact that the book itself is based on 33 letters Warren wrote to his partners from 1956 to 1970, outlining his business strategies and philosophy.

Miller puts it all into his book with a powerful context and strong narrative that weaves every piece together and creates a solid work any entrepreneur, business leader or investor can learn from. You’ll find lots of important tidbits here, many of which can be directly applied to your business—even if you haven’t reached Warren Buffett status just yet.

Overall, the content in Ground Rules is perfect for the business leader or long-term investor who wants to protect their assets and grow their success. In fact, Warren himself endorsed this book and gave the author express permission to work with his letters. If that doesn’t speak to the quality of Ground Rules, I don’t know what does.

Warren Buffetts Ground Rules Book SummaryWarren Buffett’s Ground Rules Book Layout:

  • Part I lays out the investment principles and ground rules employed by Warren between 1956-1970. It also describes the Partnership structure and the fees that all partners paid to Warren based on the investment returns realized each year.
  • Part II explains the different investment categories. In the beginning there were three; Generals-Private Owner, Workouts, and Controls. A fourth category was added later on: Generals-Relatively Undervalued.
  • Part III contains a few different topics, all related to investing; “Conservative Versus Conventional,” “Taxes,” “Size Versus Performance,” “Go-Go or No-Go,” “Parting Wisdom,” and “Toward a Higher Form.” Each one of the chapters touch upon important questions to consider for an investor, and at the same time shows what Warren’s thoughts looked like in these areas.

This book is much more than a compilation of excerpts from Buffett’s letters, smartly organized by investment theme. Miller begins every chapter with an articulate and insightful synthesis, which helps the reader understand Buffett’s key ground rules on each theme.

My Take Aways…

“Timeless Guidance”

Buffett’s correspondence with his early partners was folksy and insightful. Buffett never wrote an investment guide. These letters make up the closest thing investors will ever have to a Buffett textbook on investing.
Among Buffett’s early beliefs are:

  • Performance is Relative – Buffett aimed to beat the Dow, which he referred to as his “yardstick.” If the Dow fell 10% in a given year and Buffett’s investments were off only 5%, he considered his performance a victory. He promised not to celebrate a 20% gain if the Dow posted 25% for the year. He told his partners he welcomed criticism for the “right reason” – underperforming the Dow.
  • Look at the Long-Term – Buffett didn’t care about short-term results. He considered three years “an absolute minimum” for benchmarking. In frothy markets characterized by rampant speculation, Buffett asked his investors to judge his performance over five years.
  • Pick Companies, Not Markets – Trying to predict the direction of the market or the economy is a fool’s errand. Buffett focused on finding undervalued companies with solid products and savvy managers. A bull market lifts all stocks. But Buffett argued his most important gift was not his ability to divine moves in the broad market; his underlying analysis of a specific company was the crucial factor in any investment decision. He relied on a fundamental analysis: were a firm’s assets worth more than its market value?

I Personally found Ground Rules to be a powerful tour through the mind of a man who has consistently astonished the modern investment world. In this book, we get a better understanding of his unorthodox philosophy of diversification, which reversed what was then considered common knowledge when published.

We also get a unique opportunity to follow the development and reasoning behind Warren’s conservative long-term strategies, which have proven effective for decades despite endless movement in the marketplace.

This book is well worth reading and will make you rethink your financial, business and investing views…at least a little.

Talk Soon,
Nicky

P.S. We Can Show You How to Make More Money Online Easily and
Effectively with Proven Systems and Strategies.

Just Apply for an Online Business Strategy Session Today!

Where we will first we identify your skill level, your wants and desires, by reviewing your Application.
There is No Charge to Submit an Application

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In information marketing business you position yourself as an expert on a particular niche in the world of where people experience information overload almost daily.

Everyone on the Internet today is looking for one information or the other and this place you in a position of providing such information and then profiting from it.

Big companies like Google, Yahoo and Facebook are in the business of information dissemination and by this they are profiting wonderfully with it.

Let’s talk about why you’d want to build an information marketing business.

There are SIX big advantages of such a business:

1. It Replaces Manual Labor by “Multiplying Yourself” and Leveraging What You Know.

Leverage and Multipy Yourself

Whether you’re working for someone else or you’re a professional selling your services by the hour or by the job, you’re being paid for what you produce. The moment you stop producing, you stop getting paid.

Trying to multiply yourself by hiring employees to increase the amount of product you can sell is also full of hassles.

Employees leave and take clients with them. You have liability issues even if the employee does a good job. There are hundreds of ways an employee can get a business owner into trouble. The work and the aggravation never ends.

Your-Dream-Business-Automated-Done-for-you-300-sqWith an information marketing business, you create a product once, and you’re done. It takes a lot of work to create the product, but you can sell it many times, often over a period of several years, without having to do any additional work.

Running an information marketing business is a terrific way to multiply yourself in a way that few other businesses allow.

2. Buyers of Your Information Products Will Buy More.

The people who buy your information product will buy other information products from you. Whether they’re products you create yourself or products you license from others it’s up to you.

StrikeYou can additionally partner with different information marketers to sell your merchandise or pay them to design merchandise for you.

Once you find a customer who wants information about a particular subject, that customer will continue to buy information from you on that subject.

By encouraging repeat business you are further leveraging yourself. You do this by spending a certain amount upfront to identify potential customers and sell them your information product. That first product can then be used to sell them other information products.

Once you’ve gotten a customer, you’re going to be able to sell that customer many things as long as you continue to provide high-quality information at a good price.

3. A Small Amount of Interaction with Buyers is Possible.

One of the best things about the information marketing business is that very few customers insist on coming to your business location to buy your products.

This means you can work at home and you don’t have to worry about customers showing up at your door to buy your new product. You can create products and sell them online from your beach home or as you vacation around the world.Number 1 in the World

As long as you’ve got a way to create a product, you don’t have to be in any particular location for people to buy it. Not only is this exceptionally convenient, but it helps you get into this business with very little overhead expense.

4. Few Staff Members are Necessary.

The information marketing business is a terrific business because you don’t need a lot of people to run it.

Many info-marketers have no employees and instead pay an independent contractor to help maintain the customer database, ship products, and handle customers’ questions.

This is known as “outsourcing.” You can literally operate a business that makes well over $1 million a year with very little staff and very little operating overhead.

5. It Takes Just a Small Investment to Get Started.

The information marketing business doesn’t require a lot of equipment, fancy offices, furniture or multiple computers. It doesn’t require special licenses (in most cases) or special education or degrees.

Buyer with Cash and Piggy Money Bank

You just need to leverage the information you already know. How?

By identifying a market of people (niche) who are excited about the information you have, creating a product those people want, and offering it to them in a persuasive way. That’s why you can get into this business with a low startup budget.

Of course, you must be willing to put some money on the table to find potential customers and market your product to them. If you try to do this business without any investment at all, you’re certain to fail.

6. There’s a Large Profit Potential.

Many info-marketers are earning hundreds of thousands or even million-dollar yearly incomes through their information marketing businesses.

Affiliate Products

They do this by researched potential customers, found out what those customers wanted the most, and then offer it to them in a compelling way. They don’t stop there they then continue to sell their products to each of their customers until they were making a lot of money and they have created an loyal buyer.

This is a business that’s easily scalable; where you can make it as small or as large as you want. However don’t think an information business doesn’t require work. It does. You’ll have to work hard, just the same as any other entrepreneur does.

The good news is…
That if you put in the necessary work in, you can eventually replace your manual labor by multiplying yourself and leveraging what you know to create new products.

Your customers are aiming to get additional from you in the future. Which means you can run your business with little interaction with your customers.

You can be successful using a very small staff. It takes a small investment, and the payoff can be huge–if you stick with it and continue to develop your business.

We Can Show You How to Make More Money Online Easily and Effectively with Proven Systems and Strategies.

Just Apply for an Online Business Strategy Session Today!

Where we will first we identify your skill level, your wants and desires, by reviewing your Application. There is No Charge to Submit an Application

We are here to help. If you want any help, just Messenger us (Private Message Us) at our Facebook Messenger link – m.me/EasyOnlineBizSolutions

Talk Soon,
Nicky and Dave