Sunday, October 12, 2008

Attain Financial Freedom with NO Money & NO Inventory

There are so many companies and individuals out there boasting about a business plan that requires NO Money & NO Inventory. While they are mostly true on the surface, the consumer or the new Boss (which is YOU!) end up paying for other stuff eventually.

Now, I'm going to talk about the same thing. However, you can do it yourself along with your innovative ideas. At the end of the day, you simply don't even need to spend a single dime or cent (excluding your meals and transport, of course!) to achieve profits, which depend on the power of your ideas.

So, How to do it?

Appreciate the current products and services of the idea now available in the market. Then think about how two or more different products and services can be synergised together to create more value for consumers.

Now, go through your list of name cards and search for the industry that you have paired up in your innovation. Call them up and arrange a meeting separately.

Convince them that you have a big project up in your mind and substantiate that to make them want to join in your ship. When both parties do so, congratulations!

Of course, when you do so, you can benefit from the partnership. By subsequently including other partners in to this special network, you can tap into a wider and wider leverage of the skills and experience of your peers.

Take some time today and think of how you could improve the life of mankind and generate a financially free state for yourself!

Thursday, January 10, 2008

Wise Leverage on Loans

The Freedom To Do What You Want

Being able to pay your bills on time or having the funds to take a vacation are examples of financial freedom, even if it means using someone else’s money for a while, like a cash advance. This is because not all of life’s plans fall within perfect timing for when you have the money you need to make them come true. Financial tools like payday loans can help people manage their lives so that the money works for them to enhance their lifestyle or freedom of action. If you are trying to meet a specific goal and your money is tied up or not coming in on time, having easy forms of credit can help you keep the pipeline flowing, even when market or employment schedules don’t oblige.

Of course, easy credit like a cash advance can also hinder your financial freedom in the future if you don’t take care to pay it back on time. The cost for having some easy ways to float a payment can be higher interest rates and the agreement to pay back in the short-term. Failing to meet the terms of agreement for payday loans can result in a bad credit history, just like any other product. Fees or higher interest rates may also be levied on a delinquent account.

So, for times when your plans are jeopardized due to an unexpected gap in income, you can turn to payday loans to fill the void. Just remember that this is a tool that can be helpful in obtaining some financial freedom when used properly and cause more problems when it is not.

Friday, March 2, 2007

Building Independent Income

Our Active Income is derived from the investment of our time. Some term active income as dependent income. Basically, it means the income is dependent on the individual's presence.

For example, if the individual is not in the office, he won't be able to derive an income, thus this sort of income is labelled as dependent.

To attain financial freedom, one needs to build or create what we call, Independent Income or some say passive income. Independent income means the opposite of dependent income. That means, an income source that is continuously operating with or without your presence.

Some examples of Independent Income sources include Internet Marketing, Network Marketing and investments, etc.

As mentioned by Robert Kiyosaki, author of Rich Dad, Poor Dad, financial freedom is attained when your passive income is higher than your expenditure. Which also means you are in a state whereby, you need not work and yet you can settle your living expenses and debts.

Hence, I believe that in order to attain financial freedom, it is inevitable that you need to set out to create your own independent income.

When you manage to create one independent income source, you should then aim towards multiple streams of independent income.

Friday, February 23, 2007

Multiple Streams of Income (MSI)

Once you master the techniques of leveraging, you can create multiple streams of income (MSI) to multiply your profits.

MSI is simple concept and I believe you can understand what it implies simply by referring to its term.

Some people misinterpret MSI as taking up multiple jobs. While taking up many jobs might really bring you multiple streams of income, that is not the ideal way to do it to attain financial freedom.

My preferred way would be to use leverage on multiple arenas to attain financial freedom.

MSI is also a good way to diversify your income sources.

Leverage :: The must-have tool for Financial Freedom

When I embarked on my journey towards financial freedom, my mentor taught me a very vital lesson on Leverage.

He said, "With leverage, one can then get things done by not being there, earn money when one is enjoying, enjoy life when the money keeps rolling in."

Leverage, to me, is the foundation necessary for financial freedom. Leverage, in layman terms, is to utilise the effort of others; to tap on a system to enable you to get your hands off the business and let the entire machine generate the profits for you.

How to Leverage?

The Answer is WORK YOUR WAY UP.

If you are a newspaper boy, delivering newspapers everyday, A STEP UP would be upgrading yourself to manage a team of newspaper boys, and earning a cut from the delivering.

A working system that can help you gain leverage is the network marketing business.

If you are currently doing a retailing business, you might think of WORKING YOUR WAY UP to become a wholesaler or distributor. Or, instead of managing the business yourself, train someone up, develop trust between each other, and relief yourself from the business.

Leverage means hard work first, reap profits later

Initially you may find yourself working hard to establish a system or train the people to do the job. However, the end result would be fulfilling and it would be bringing you closer to financial freedom!

Wednesday, February 21, 2007

Reinvesting is the way to go!

I would like to share with you the best way to move towards attaining your financial freedom.

Do not underestimate the power of Reinvesting. It is the key to freeing yourself from the rat race and make you earn while you enjoy.

Reinvesting is simply the act of returning your revenue/income back into the the machine that just generated that money to you. And in doing so, you increase the efficiency of the machine to churn you back a higher return in the next cycle.

It's easy, let me show you some examples.

Example 1 : Payment of fee into "Get Paid to Do Survey" programmes

Most people would just complete the surveys and then be glad that they can get back their initial investment and then carry on earning that small portion of money. The brilliant ones would reinvest the money into signing up for different programmes so that they can have access to a whole wide range of "Get Paid to Do Survey" Programmes!

Example 2 : Investing in Stocks

Some people get very excited receiving dividends and are satisfied with receiving that amount of money every month. While others prefer reinvesting their money into buying more of that stock and get a larger amount of money.

I learnt that through reinvesting funds into certain investments, you will in turn receive a larger share of returns in the future.

Reinvesting is a simple concept. Why make it complicated? Start observing how you can apply this simple process into your life, investments, relationships. It will create wonders when you use it in a moral way.

Friday, February 16, 2007

Why Attain Financial Freedom?

Attaining Financial Freedom allows one to have the maximum flexibility in controlling one's life. With the financial hassle in your life deducted, you can spend your time in relationships, hobbies and leisure.

Having the end in mind is important in the process of attaining financial freedom. Hence you should visualise the wonderful state you will land yourself in when you are financially free.

With this, I start off this Attain Financial Freedom Blog!