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BECOME A MILLIONAIRE AT 30 BY DOING THESE 8 THINGS

BECOME A MILLIONAIRE AT 30 BY DOING THESE 8 THINGS

FOCUS ON EARNING

THE FIRST STEP IS FOCUS ON INCREASING YOUR INCOME IN INCREMENTS & REPEATING THAT.
EXAMPLE: ASK FOR RAISE & START A SIDE HUSTLE.

DEVELOP MULTIPLE STREAMS OF INCOME
65% OF MILLIONAIRES IN THOMAS CORLEY’S
STUDY HAS AT LEAST 3 STREAMS.
EXAMPLE: REAL ESTATE, INDEX FUNDS, & BUSINESS OWNER.

SAVE TO INVEST, DON’T JUST SAVE
BY INVESTING YOUR “SAVED” MONEY, YOU LIVE BELOW YOUR MEANS & FOCUS ON INCREASING YOUR INCOME.
EXAMPLE: MAKE AUTOMATIC (WHEN PAID) TRANSFERS INTO AN  S&P 500 INDEX FUND.

CHANGE YOUR MINDSET ON MONEY
GETTING RICH BEGINS WITH THE WAY YOU THINK & WHAT YOU KNOW ABOUT MAKING MONEY.
EXAMPLE: RICH PEOPLE KNOW MAKING MONEY IS AN INSIDE JOB, SO KEEP LEARNING.

INVEST IN YOURSELF
WEALTHY PEOPLE ARE VORACIOUS READERS. WARREN BUFFETT DEDICATES 80% OF BIS WORKING DAY TO READING.
EXAMPLE: READ, TAKE COURSES, HIRE A COACH & EXERCISE.

DITCH THE STEADY PAYCHECK
KEEPING JUST A STEADY PAYCHECK & YEARLY PAY RAISES IS THE SLOWEST PATH TO PROSPERIT.
EXAMPLE: WHILE WORKING 9-5, CREATE A BUSINESS, BECOME A BUSINESS PARTNER, INVEST & DIVERSIFY YOUR MONEY.

SET & VISUALIZE COMPLETING GOALS
CREATE A CLEAR GOAL & THEN A SPECIFIC PLAN FOR HOW TO ACHIEVE THAT GOAL.
EXAMPLE: COMMIT TO ATTAINING WEALTH BY WRITING DOWN & VISUALIZING YOUR GOALS.

SHOOT FOR $ 10 M, NOT $ 1M
GRANT CARDONE SAID,”THE SINGLE BIGGEST FINANCIAL MISTAKE I’VE MADE WAS NOT THINKING BIG ENOUGH.”
EXAMPLE: WHATEVER YOUR GOALS IS, INCREASE THEM 10x AS YOUR “ STRETCH GOAL”. PUSHING YOU TO WORK EVEN HARDER.
 

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9 MISTAKES THAT KILL STARTUPS

9 MISTAKES THAT KILL STARTUP

BAD LOCATION
      The location of a business is the place where it is situated. There are a number of factors that need to be considered in choosing a location for a business. One of the earliest decisions any entrepreneur has to make is where to locate his or her business.
SINGLE FOUNDER
By far the biggest challenge for a solo founder is fundraising. The fact is, it’s really hard for one person to run a company, especially in beginning. This makes the whole endeavor much riskier, which naturally gives investors a moment of pause.

RAISING TOO LITTLE MONEY

Lack of Proper Marketing
Getting and Retaining Customers
Money Management
Maintaining Online Presence

HIRING BAD EMPLOYEES
Absenteeism – bad employees tend to be absent more often. This either slows down your teams’ work or requires expensive temps. Less revenue –weak performers will generate significantly less revenue than their motivated peers.


NOT PUTTING IN ENOUGH EFFORT

Putting in that effort every day is more important than any natural talent you might have. On top of that, the grit you exhibit as you work toward business success can lead to learning new skills and building on that natural talent. Grit also allows you to identify opportunities and take advantage of them.

BAD PLANNING/ STRUCTURE
Unrealistic Financial Projections
Not Defining the Target Audience
Over-Hype
Bad Research
No Focus on your Competition
Hiding Your Weaknesses
Not Knowing your Distribution Channels
Including Too Much Information

WRONG AUDIENCE TARGETING
     Wrong age, Incorrect gender, Markets with Barriers, Wrong Market Life Cycle.

CHOOSE THE WRONG PLATFORM
     Platforms fail for four reasons: (1) mispricing on one side of the market, (2) failure to develop trust with users and partners, (3) prematurely dismissing the competition, and (4) entering too late. 

POOR INTERNAL MANAGEMENT
When a company operates without an effective system of internal controls, employees complete job tasks in an environment without the assurance of personal safety. This leads to high rates of employee dissatisfaction, absenteeism and low rates of employee retention.
HAPPY 50TH POST!😍

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