Simple,5-year,Plan,Developing, DIY A Simple 5-year Plan to Developing True Income Security!
Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in When starting a new work at home business it is very easy to become consumed by it. We spend so much time trying to get the business up and running that we may end up becoming burned out and lose our motivation. There is so much to learn and
Ifyou have a job, do you have a secure income? Is that job your sole sourceof income? If so, your income is not secure. Onceyou receive your paycheck, you and your employer are even. You dont owethem anything more and, more importantly, you need to understand that theydont owe you anything either.Youneed to develop more than one income stream outside of your job if you are totruly have a secure income.Heresmy suggested 5-year strategy:Start a blog and monetize it.Take the income from the blog and build a website and monetize it.Take the income from the website and put into a product or service brokerage business.Put the income from the service brokerage business into the currency markets.Youcan begin this strategy in your part time. And you can do it for littleor no money - other than the cost of education.Launchinga blog is free. Learning how to monetize it will cost you a fewdollars but even that is free if you dont mind the trial and error method oflearning. Tostart earning income from the blog even faster, consult one of the many onlineadvisors. Ive found that the best ones will provide you a lot ofinformation for FREE. (RosilandGardner and AnikSingal have just launched their Blog Classroom. You should look intothis as a first step.)Theoverall strategy depends on your mastering each monetization technique beforeproceeding to the next. Devotea year to the blog project. Once youve been blogging for awhile and aremaking money with it, you are ready to start on phase 2.Onceyour blog is spinning off income and, as long as it requires very littlemaintenance on your part, you can start educating yourself on building andmonetizing the website. Likeblogging, building a website is easy. Producing a website that willmake you money is another thing, altogether. It will require that youlearn all that you can about internet marketing and sales. This is arapidly changing field and, therefore, will require a lot of time in thebeginning. But youre going to find that the learning can be fun andeasy.Codrut Turcanu can help you with this. Bythe end of the second year, you now have a blog and a website that are spinningoff two sources of income. At that point, you are ready to move on tophase 3.Phase3 involves joining a product brokerage or network marketing company andleveraging the tools that they offer.Whichcompany is up to you, but be aware that not all companies that offer ahome-based business are the same. For example, I would not recommendjoining a company that compensates on a multi-level marketing (mlm) plan. Multi-level companies are very difficult to get started. And most of themare not very financially stable. However,there are several product brokerage companies that require very little work toget going but can produce massive incomes after several years. And, aftercompleting phase 1 and 2, you have already developed the internet sales andmarketing skills to become profitable very quickly.Afteryour third year, then, youll have 4 sources of income your job, your blog,your website and your network marketing business.Phase4 is going to put you in the world of the rich.Forextrading is the best way to begin investing for a lot of reasons. But themain ones are that a) you can start trading for little money, b) you only needto understand a handful of investment choices versus stocks which involve tensof thousands of choices, and c) you can do this 24 hours a day, 6 days perweek. However,you will need to become very educated on global economic trends and what theymean. Dontlet this scare you, though. There are several terrific free forex tradingeducation sources that will get you up and trading, quickly, and Im sure that,by the time you get to Phase 4 there will be more.Dontmake the mistake of trying to do all of these at once. Focus is the key,here. Become a master of one thing and move on from there.Anothermistake you dont want to make is not reinvesting your profits from yourbusinesses. All profit should go into education or tools for the nextbusiness. Thelast mistake is quitting your full time job too soon. Give this 5years. Until you are making at least 3x your current wages in residualincome, keep sucking up to the boss!
Simple,5-year,Plan,Developing,