Financial Management 4
Try these two methods as a good starting point:
The first method is using defensive strategies - cut down what you are already spending on. You can’t start a business or lead any form of a decent life being in a financial mess. Cash flow, at this stage, is more important than revenue. And you need to have lots of cash flow coming in if you are going to succeed.
To start off with, here are some things you can cut down on:
Smoking - if you can’t stop, just cut down as much as you can
Alcohol - booze will drain your finances faster than a running tap (faucet if you’re American)
Nights Out - Spend nights in instead and think about making more money
Gambling - If you’re planning to gamble, it’s far better to gamble running a business
Holiday & Country Clubs - You won’t die without a few memberships
Food - Eat healthily and you’ll think and concentrate easier & clearer
Laziness - By far the biggest thing holding you back!
Most important of all, don’t buy anything that constitutes a liability A liability is anything that takes money out of your pocket no matter what they will be worth in the future.Think in terms of cash flow. What can I invest in today that will give me funds tomorrow?
Now, lets move onto the second method, offensive strategies:
One of the best, low cost ways to invest in your business skills is to join a Network Marketing company. There are many other options available including starting a traditional (bricks & mortar) business or maybe even an online business.
But if you want to guarantee yourself something concrete where business skills are concerned, you should seriously consider network marketing as a viable option.
Regardless of what you may have heard about this industry or how much money people have lost there, one of the biggest reasons that makes this option extremely valid is simply because of the experience and the skills you can learn, not because of how much money you can make (although it would, of course, be fantastic if you could earn a living out of it whilst you are learning).
Network Marketing Companies are the one place where people will share their trade secrets freely. It is logical to do this in order for your “upline” to succeed, as to do so, they must ensure you suceed as well! Therefore, they will not hold back in teaching you the skills of a business person.
Furthermore, the relatively low cost of investing in a network marketing company will amaze you for what you can learn for the small price you are paying. They will patiently train you in the attitudes and business skills you need to succeed in this industry.
Basically, you can’t succeed in network marketing with an employees mindset and attitude. A network marketing company will train you in sales, communication, teamwork, leadership, positive thinking, self-improvement,time and money investment as well as the support f your upline as a personal coach & mentor. Even if you didn’t make a single penny, but diligently went through their programme, the skills you develop doing so will last you a lifetime.
You can also learn these skills by joining an insurance agency. The job itself may be challenging, but those companies will teach you the same skills above and you could even gain a few tips on financial planning as well.
How about an internet business? If you have the apitude for computers, Internet businesses offer a low cost, high profit margin business that can earn a lot of money and tap into a worldwide market. Try Home Publishing as a starter. Not only is it a high profit margin, low cost start up business, you will naturally have access to hundreds of thousands (literally) of self help guides, self teaching and general informational guides.
Other places you can learn about business skills can be found at financial planning courses, estate agency (real estate if you’re American) courses, time management courses and lots more.
The sugggestions above are the safest way of starting a new business, whereas a traditional, bricks and mortar, business might be too risky for someone without any business experience, in which case you’d be likely to invest thousands of pounds, barely breaking even. But once you’ve learned and developed the skills above, you will have a higher chance of succeeding.
The most important thing of all besides a good learning attitude are the people you hang around with. It has been said many times that you are the sum of the five people you spend the most time with!
At the heart of man lies jealousy. They don’t want to see the people around them succeed. If you succeed, it makes them look bad. They know in their hearts that they are going no where yet they embrace that lifestyle and pull you down with them, and keep you down with them. They will steal your dream, and rob you of your financial freedom if you are not careful!
The key point to remember is: only mix with positive people!
Positive thinking is not wishful thinking. A wishful thinker is a dreamer who doesn’t take action. Positive thinking is backed up by action and you will fel the energy of people who believe in you and your dreams.
If you hang out with ducks, you’ll quack….with losers, you’ll lose, but if you hang out with eagles, you will soar!
So, start looking for people who will folow your vision or are willing to grow together with you.
Lastly, you must Believe In Yourself!
The task of stepping out of your comfort zone may seem terrifying and many will not support your dream. They may even go on the offensive even if you don’t share your dream. That person may even be your closest person.
Then you will be faced with the question, is my financial freedom worth the price I am paying now? Can I live another day with the same routine, the same job, the same wages and the same drudgery? If the answer is no, then take action NOW. Not tomorrow, not next week,because you will wake up and lose your dream. It will be easier to conform with the normal, run of the mill life that you-and everyone else- finds comfortable. The life that they’re conforming to.
Write down your dream - your goals - on a piece of paper and hang on to it tight every day. Share it with someone positive and take that first step.
You won’t regret it.
To Your Financial Freedom!










