14 Important Things to Know on Becoming an Entrepreneur

Everyone wants to become an entrepreneur. But not everyone can live that crazy lifestyle full of terrible risks and high rewards. It’s easy when you mouth out those words “I want to become an entrepreneur”. It’s based on your perceptions and beliefs that all entrepreneurs are successful. They seem to have it all. The financial freedom, the lifestyle you’ve always wanted, and even the fame of speaking on large stages and getting featured in magazines. Many of us dream of becoming successful entrepreneurs one day. We don’t blame you and that’s all right especially if you don’t want to stay an employee forever. 
 
Yet, you do need to realize that there are more risks involved than most of us even know. What you don’t observe are the behind-the-scenes struggles. Each successful entrepreneur has had their fair share of difficulties. The output is the result. You only notice entrepreneurs when they are successful or if they’ve hit the peak. In other words, they’ve hit the jackpot! Don’t obsess with the results. You’ve got to focus on the process itself. This means finding a solution to every problem you encounter.
 
According to Markinblog as of 2020, there are 582 million entrepreneurs. That figure alone speaks for itself. We can say that there are a lot of entrepreneurs right now. Why are people evolving to becoming entrepreneurs? Why is entrepreneurship so appealing to some? It boils to one simple idea. Entrepreneurs want to take charge and start their own business/es.
 
Now that we’ve got you hooked, keep reading this article on how to become one. Anyone who has determination and takes risks can become an entrepreneur. Why not take the first step now?

“The way to get started is to quit talking and begin doing.” – Walt Disney

What is an Entrepreneur?

First, we have to set a definition. According to Investopedia, an entrepreneur is an individual who creates a new business. The entrepreneur bears most of the risks and enjoys most of its rewards. This person is an innovator and a rich source of new ideas, goods, services, business, or procedures. Entrepreneurs generate economic wealth, growth, and innovation. Are you ready to take risks when it comes to starting a new business venture? If your answer is yes, you have what it takes to become an entrepreneur. 

“An entrepreneur tends to bite off a little more than he can chew hoping he’ll quickly learn how to chew it.” – Roy Ash

How do I become an Entrepreneur?

With other careers, you can prepare and make a definite plan. Being an entrepreneur means there is no solid plan when it comes to this path. What may work out for one entrepreneur might not work for the other. But, they all share these 7 common characteristics:

1. Financial Stability

It is recommended that any entrepreneur own an adequate cash supply. This will help in the long run so that you can focus on building a successful business. By doing it this way, you don’t have to worry whether your financial resources will run out. Your mind will focus on the bigger picture which is setting the foundation for your business.

2. Diverse Skill Set

Having a diverse skill set will go a long way. If you stick to what you know and don’t plan to do anything about it, this won’t help. Of course, you need to practice and apply these skills out in the real world. There is a lot of competition nowadays and you have to be someone who is a jack of trades. Once you learn how to run a business, pass these functions to someone who you can hire. These persons must be better than you at them so that each member of the business can run.

3. Variety of Content

Building your business can be challenging. That’s why it needs to be prevalent across many channels. You can produce meaningful content through articles, books, lectures, or even podcasts. By doing it this way, you will get through a widespread audience. You need to expose yourself to many elements. It’s vital to keep a fresh perspective on such things. This way, you can keep updating your content to have more impact on your audience.

4. Problem Identifier

Why do we look up to wealthy and successful people? These people could be Bill Gates and Elon Musk. It’s because they were the first ones to recognize a problem. When they did this, they were able to form and build their businesses around it. It must be intuitive for entrepreneurs to identify and recognize problems to solve. They have the special ability to think outside of the box and stand out as an outsider peering in. Budding entrepreneurs often see things that ordinary people can’t see.

5. Problem Solver

If we solve all problems in the world, entrepreneurship will be dead. It wouldn’t be as popular as it is today. It’s a good thing that our society recognizes problems. We, as entrepreneurs, can still improve the quality of our lives. It boils down to solving a problem or a set of problems. The importance of a business is only seen when there is perceived value. Someone will come along and be able to solve these problems of value. When that person does, society recognizes them as successful. 

6. Master Networker

To be honest, there is a lot of competition out there. It would be difficult to achieve success on your own as you will need the help of others. Don’t be afraid to network like crazy as this will make a difference. If you meet the right people now, you never know that they can introduce you to another world of network. It’s never too late to mingle with people outside of your network. This will help you without having to start from scratch. If you are genuine in helping others, they will do the same in return.

7. Leader by Example

Every person will need someone to look up to. An entrepreneur’s main responsibility is to guide, motivate, and inspire everyone. By making your employees feel special, they will reach their full potential. When they see you striving hard in building the company, they will want to do the same and put the same amount of effort. 

“Don’t worry about being successful but work toward being significant and the success will naturally follow.”– Oprah Winfrey

What are the main characteristics of an Entrepreneur?

1. Versatile

Even if you’re the head of your company, it’s important to interact and handle customers especially when you are starting. That way, you can see what the experience is all about. You will learn a lot from things from your customers such as their response and feedback. This will help you improve your products or services. Later on, you can train someone else to do this while you focus on other aspects of the company. 

2. Flexible

Soon-to-be entrepreneurs like you need to be flexible when it comes to ideas. When set in motion, sometimes you’ll find out other ideas will work as well. Thus, you’ll need to make some adjustments here and there. Whether you want to admit it or not, you should focus on the bigger goal that benefits the entire company. Being open-minded and receptive to feedback will allow you to be more flexible.

3. Money Savvy

It can tough for first-time entrepreneurs during the first year. As much as we want to make loads of money immediately, the reality is that it may take some time to do so. The secret to making a profit is being strict when it comes to bookkeeping. It’s a bonus if you have a background in finance and/or accounting. If not, you can hire someone to work on that. Make sure to separate personal and business as mixing the two is never a good idea. If you do, it will create a recipe for disaster

4. Resilient

All entrepreneurs must have this quality – resilience. In times of success or failure, they are the only ones who need to keep moving forward. Entrepreneurs never give up easily. All positive or negative experiences produce excellent learning experiences. The bad experiences will test your patience and dedication. 

5. Focused

Any entrepreneur must keep his or her eyes on the prize and do all means to succeed. It doesn’t help if that person gets distracted because it doesn’t get closer to the long-term goal. Distractions will lead you away from achieving your number one goal. If you feel that you are losing hope, remember why you started the business in the first place.

6. Business Smart

Managing your money is important. Knowing when to spend or save money for the business is as important. When it comes to your business, you should be aware of the running revenues and expenses. Know when to cut back or spend when necessary.  It is advisable to study your target market and competitors. Analyze the strengths and weaknesses of your business. That way, you can learn how to adjust when facing difficulties.

7. Communicators

Being an effective communicator will get you far. Know how to convey your ideas across to people. It is helpful, especially when dealing with possible investors. Mastering this art will leave room for no mistakes. You must be open in communication when it comes to talking to all sorts of people. This includes employees to suppliers.

“A ship in the harbor is safe, but that is not what ships are built for.”– John A. Shedd

 

As you can see, the life of being an entrepreneur is not as simple as we thought. But when you find the right ingredients, success will be the most satisfying reward. All experiences combined with your knowledge and skills should make the journey worthwhile. Being an entrepreneur takes a lot of guts, determination, and perseverance. No one got it there by taking the easy road. There will be a lot of sacrifices that will need to be made. This is a path you have to be willing to take. 
 
There’s no use in sugar-coating things. Being an entrepreneur is tough especially when you don’t have that one solution yet. That one solution to a problem that everyone has been looking for. That one solution could make or break it for you. Finding that solution could be that defining moment that you’ve been waiting for. Know yourself, what your capabilities are, and listening to your environment. What problems need to be addressed? What solutions can I come up with that will resolve this problem? What products or services can I offer? There are millions of questions that you can think of right now. Once you start asking, you’ll start seeking these answers. Become the problem solver today and you might surprise yourself tomorrow.
 
If you stop asking the right questions, you are only limiting yourself to what you can become. Don’t think that all the world’s biggest problems have been solved. No matter how minor, a problem is still a problem. Start thinking outside of the box. You need to be original. Find something that will ease people’s lives. For all you know, you can be the next best thing that’s ever happened. We need more people like you. Those who can inspire the future generations to come. That’s what entrepreneurs do for us. They are the innovators of our society. Without them, life would not be as exciting. We wouldn’t look forward to products or services that would make our lives better. These things would inspire us to become the next generation of entrepreneurs.
 
You are an entrepreneur. You don’t know it yet. So, what are you waiting for? Are you ready to take on a challenge of a lifetime? Stand out and become an entrepreneur.

“Try not to become a man of success. Rather become a man of value.” – Albert Einstein

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How to Start Building Wealth As a Teenager from Nothing

Having wealth is easy. That’s only if you inherit a great number of assets from your parents or other family members, right? This only belongs to a small percentage of people in the entire world. Most likely, they came from wealthy backgrounds and have successful businesses. Others got wealthy because they knew where to invest their hard-earned money. Born into a rich family could make you a lucky person.
 
Many of us can look up to the most successful persons of today. Many of us wondered how they were able to achieve such monumental success.  Who knows the people we look up to start where we are today. They worked smarter by working many steps ahead of everyone else. Some of them may have enough creativity to think outside of the box.
 
If you’re an ordinary human being, like you and me, that’s okay too. We can build wealth out of nothing as well if we set our minds to it. What separates us from the wealthy is there is a challenging set of obstacles we have to face. Your future could change by the actions you make today. If you start as early as possible, that means you can retire at an earlier age. That means you get to enjoy any lifestyle the way you want to. 

“Wealth is not about having a lot of money. It is about having a lot of options.” – Chris Rock

Most of us fall and accept a cycle that’s been passed on to us. It might go something like this. If we work hard in school, we’ll be able to get good grades. These grades will help us get accepted into a great college or university. We have to follow a course that we are passionate about and finish that within X amount of years. After that, we have to land a dream job that is in line with our course or degree. We are expected to stay with that company for many years until we get promoted to the highest position. This job needs to compensate us with desirable monetary compensation. This will allow us to buy the things that we want. What’s are other signs of success? Purchasing a car and property of your dreams. We’ll need to get loans for those two. Before you know it, you’ve fallen into a cycle where you might be living paycheck to paycheck. You are making enough to make it through the month. Savings? You might even if be broke. But no one needs to know about that. This is what the older generations perceived as an achievement or success.

“Formal education will make you a living; self-education will make you a fortune.” – Jim Roth

We can get lost or feel frustrated if we stick to this kind of mentality. What other people think of us. How others define success. What they don’t tell you that not everyone is born to be a follower. We don’t have to listen to the people around us. We want to create our paths for ourselves. What if you weren’t the kind of person who would stick to an 8-5 job bound to the walls of an office? If you find it difficult to be in this kind of situation, then why are you putting it up with it? Is it because the company that you’re working for is popular? Or is it because it pays well? What if you can make more money doing what you love? There isn’t a clear-cut solution for everyone. What may work for one person may not work for another. That’s why you need to know more about yourself and what your strengths and weaknesses are. At this point, you’ll need to identify the goals. These are long-term or short-term that you intend to achieve. You’ll need to put in more work and effort on how to achieve them.

“Wealth is the ability to fully experience life.” – Henry David Thoreau

Here are some hard facts about these successful figures we’ve heard of. These are some things that you have not heard of before. Right at this moment, you need to change the way you see things. Take these things into account and start building your wealth today!

1. You Are Self-Made

The reason I’ve been able to be so financially successful is my focus has never, even for one minute, been money.”– Oprah Winfrey

Research has shown that about 68% of the richest people in the world are self-made. This pertains to those who have a net worth of $USD 30 million or more. Some of them were born in poverty. Others used their strengths to identify desirable products and services. They managed to penetrate a market that was never seen before. Who exactly are these millionaires or billionaires we are referring to?
 
  1. Warren Buffet – CEO of Berkshire Hathaway
  2. Howard Schultz – Previous CEO of Starbucks
  3. Oprah Winfrey – Media executive, presenter, producer
  4. Jeff Bezos – CEO of Amazon
  5. Elon Musk – CEO of SpaceX, Tesla, +
  6. Sara Blakely – Founder of Spanx
 
Believe it or not, only around 24% inherited or created their wealth. This fact will change the way you believe in creating wealth. With anyone as ordinary as you and me, it’s possible to achieve. Creating wealth is possible and within your reach.

2. You are a Problem Solver

“Every problem has a solution. You just have to be creative enough to find it.” – Travis Kalanick

How did these people do it? Look at Elon Musk and Jeff Bezos. They are earning millions while they sleep! It’s because they were the first ones to come up with solutions that solved problems. Once they were able to do it, people started buying into their products and services. It’s simple as that. If you can solve a million-dollar question, you will be rewarded with millions! If you are a person with good analytical skills, you will be able to look for problems. If you can do that, it’s better if you can solve them. Once you can do this, you can build your business around this problem. This will separate you from the rest. You will be one step ahead of your competitors. Most of them are looking left and right and copying their competition. You know better now. 

3. You Will be Rewarded

The highest reward for a person’s toil is not what they get for it, but what they become of it.” – John Ruskin

Once you have mastered the solution to a problem, that’s when the money comes in. Some of the biggest companies out there is a result of buying out their competitors. One day, your business will become desirable and profitable. When this happens, you might encounter a couple of things in your journey to wealth building. Someone will give you X amount and run your company. This business of yours is the result of time and effort. It could be something you’ve built with your own two hands that you’ve spent X amount of years.
 
Others would hold on in hopes of improving their business and moving into new ventures. Other business owners will work on improving it. This will result in a higher value for the company. Later on, it can worth a large amount than what it was offered at first. 

4. You Will Achieve Financial Freedom

“The financial goal that wealthy-minded persons pursue is freedom, not riches!” – Felicia Woodside

Money only has value when it’s based on certain beliefs. It comes with the perception when it comes to it. Once it loses its value, it isn’t worth anything anymore. Money is transportation worked on to achieve closer to our goals. It could be paying off the mortgage on a piece of property or your dream car. You will set those wheels into motion by establishing a successful business. This will lead you to achieve financial freedom. You will have more options than before. You will be able to afford things without having to worry whether you can afford them or not.

5. Your Most Precious Asset is Time

“Being rich is having money; being wealthy is having time.” – Margaret Bonnano

The most precious asset is time. That’s why we need to ditch the old-school concept. When we retire at the age of 60, that’s when we can start enjoying our lives. That’s a little too late, don’t you think? It’s a good thing that many people from the younger generation are realizing this. When you are young and wealthy, you can enjoy life the way you want it to be. As long as you know how to manage the money you’re making and turning that into wise investments, you will go a long way.
 
That’s why if you are keen on building your wealth, you need to break that unhealthy pattern now. Otherwise, you’ll be stuck in a 9-5 job that will limit you from doing anything. It’s about taking the risk without having the fear of failure. If your ideas or solutions fail, it will motivate you to come up with better ones. Failures are good. That’s because they build experience and as long as you don’t stop trying, you will reach your goals one day. Do you think successful people made it big during their first try? They made a lot of mistakes along the way and learned from them. Not once, they didn’t let these failures hold them back. It pushed them harder and brought them to where they are today.
 
All you have to remember is to stop chasing after money. If you have skills when it comes to solving problems, you’ll be on the right path no matter how small a problem is. What the world needs now are more problem solvers who have strong determination. With a powerful combination like this, there’s no stopping them. Change the way you think about money now. Stop chasing after it. Once you learn how to solve problems, it will be the start of a wonderful journey ahead.
 
Welcome to the 21st century, folks! The definition of success is subjective. Many would equate to success with a career. Others would say it’s about having a happy and stable home. The definition of success will vary from one person to the next. is, The power of wealth lies within your hands. It is up to you whether to jump on that boat or stay behind and fall into that vicious cycle. It is a repetitive cycle that almost the entire population has fallen into. But of course, it doesn’t have to be that way. You have the option to follow another route and build wealth based on your knowledge and skills. 
 
Again, you may look up to successful figures and mentors. They can only share so much valuable information. If you follow their exact steps to getting wealthy, you might not get the same results as them. Why is that? Times were different back then. There was less competition compared to the present. Also, you have to learn how to adjust on your part. It takes a lot of creativity and innovation to stand out from the rest. You have to find out what is the perfect formula that works out for you. It might mean going through a lot of trial and error. 
 
The road to getting rich and wealthy isn’t an easy one. It could be the most challenging chapter of your life. You’ll never experience that unless if you start right now. Start each day with confidence. If needed, make a checklist of things to achieve. Start planning out how to reach your short and long-term goals. Once you can achieve them daily, there’s no stopping you from reaching your goals. The tools are within your fingertips and it’s up to you to get started.

“The greatest thing money can buy is financial freedom.” – Damien Thomas

 

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Why Zoho CRM Should Be Your Next Sales Tool

Using customer relationship management software is beneficial for any business. It’s a one-stop-shop where you can integrate everything. This kind of technology allows companies to learn from potential customers. Not only that but they get to interact with existing customers. Every company faces the same challenge. This challenge is to get their customers to remain loyal to their products and services. It’s that easy. All you have to do is improve the customer-company relationship. It leads to an increase in sales, enhances services, and increases profit. This software will assist in many ways. It helps centralize, optimize, and streamline such communication.

Right now, you have to choose the right software. This way, you will have a better grasp of your customers’ profile. By knowing this, it will lead to higher customer retention. Once you know your customers are, the better it is for you to expect their needs. As a result, faster and efficient communication will take place. Aside from that, this CRM software has better protection when it comes to data privacy.

 

What Exactly is a CRM?

CRM, better known as Customer Relationship Management, is a kind of system. In this system, you can keep important information. This includes updating contact details, tracking customer interaction, and managing customer accounts. Designing CRM systems have two things on its mind. It is to improve relationships with the customers and gain customer retention.

Why Use Zoho CRM as a Sales Tool?

As you know, customers are the most important pillar of any company. Without a steady source of these customers, any company will fall. Companies have great products or services. Sticking to one plan won’t work. A company will need to rethink its strategies to bring in more customers. This crucial responsibility falls on Marketing and Sales. Any relationship acts as a bridge between a customer and your company’s offerings.

There are many reasons why companies have a change of heart. They are turning to the use of customer relationship management software. One of the main reasons is to improve the quality of their relationships with customers. Once the relationship becomes the main focus, it leads to more stable relationships. If everyone focuses on it, there will be higher customer satisfaction. Doing this will build your database with loyal customers.

If all this interests you, the most ideal CRM software for you and your company would be Zoho CRM. Think it’s the right sales tool for you? Please continue reading and check out its benefits.

 

Which Terms Should I Be Familiar With?

Accounts:

These are the business that is being dealt with when it comes to these companies or departments.
 

Activities:

These are tasks, events, meetings, and calls that have taken place. These activities are the ones that you will carry out with accounts, contacts, or leads.
 

Contacts:

These are the people from different companies. They are with whom you carry out business-related tasks.
 

Deals:

These are actual business opportunities that will generate revenue for your company. Here, you are dealing with these potential opportunities with other people or organizations.
 

Leads:

These are individuals who act as the company’s representatives. They are with whom you can have a potential business relationship.

How Do I Get Started?

Like any new software you’re dealing with, it can be a bit overwhelming at first. Of course, it doesn’t have to be that way. That’s why we’re here to help you out and get started. Before you know, you and your company will be on your way to the right track. The first step will be signing in your key details such as name and company information. After accomplishing that, you may fill out your CRM using sample data. This way, you can practice and experiment with a lot of different and useful features. This will be helpful when it comes to presenting the actual data in real-time.
 

Home Tab

Once you open Zoho CRM, the Home page will be the very first thing you see on your screen after logging in. You can locate this under the Home tab. On the top bar, you can see Home, Leads, Contacts, Accounts, Deals, Activities, Reports, Analytics, Products, Quotes, Sales Orders, Purchase Orders, Invoices, SalesInbox, and Projects. Right next to Projects, you can click on the three dots. These are the different components of modules all found at the very top of your screen. This will be how the data will be grouped. As you click the Home tab, you’ll see this. This is where you can see the entire overview of the activities taking place when it comes to CRM. You can track its progress as well. Here, you can organize your daily tasks. Other than that, you can manage any task belonging to your team.
There are three ways to view Home. First, the Classic View is set on default. It contains Tasks, Events, and Pipeline (based on stage). The second way is the User’s View. Users are free to customize the format based on that person’s preference. Click the three dots next to User’s View and you will be able to Add Components, Reorder, or View Full Screen. Last but not the least, the last view is Customize Home page. This setting allows you to customize the page based on users and their different roles.
 
All you have to do is check with the components they’ll be needing. Start inserting them using the sidebar found on the left. When users have access to these pages, they will view the customized page you have done. It will be set on automatic default. For example, only certain components are relevant for certain roles. It will be a different page for someone in Sales and it will be different for someone in Marketing.
 

Leads

Next to the Home tab is Leads. These are individuals who act as the company’s representatives. Leads are the ones you can have a potential business relationship with. Under this tab, you will find all individual records of leads. Each record consists Lead Name, Company, Email, Phone, and Lead Source. This is set on automatic default. If you would like to change the format, click on the three dots found next to the Projects tab found on the top. Scroll down the list and click on + Create New Module.

By clicking the + button, you can create new records of a new possible lead. You can fill out basic information in fields like First Name, Phone, Company, Email, and many more. You will need to fill out the ones marked in red. They are mandatory. Save these details and it will come out looking like a business card. You will be able to view important information about the lead here. If you wish to view the complete details about this particular lead, you can click on Show Details.

Found on the left sidebar, you can view Info such as Timeline and Data Privacy. The Timeline feature is useful. When you click on it, you can view the History of every recorded activity in the particular record. You can enable Data Privacy if you switch on the compliance settings. You can find more information about the record can under Related List. Here, you will find Notes, Attachments, Products, Open Activities, Closed Activities, Invited Events, Emails, Campaigns, Social, Visits – SalesIQ, and Zoho Survey.

Other actions can be found in the top right corner. This includes Send Email, Convert, and Edit. You can locate other actions by clicking on the three dots. The drop-down list includes Clone, Share, Delete, Print Preview, Find and Merge Duplicates, Mail Merge, Meet Now!, Schedule Online Meeting, Run Macro, Customize Business Card, Organize Lead Details, Add Related List, and Create Button. Also, the left and right arrow buttons help you to navigate from one record to another.

Other Useful Features

Search

In case if you need to pull up something fast, you can use the Search option. You will locate it in the top right area. Enter any keyword. You will view a list of the term found in your modules.
 

SalesSignals

Clicking on the bell is Notifications. You will find 2 tabs and these are SalesSignals and Feeds. Under SalesSignals, you can find customers and their interaction with your brand. This can happen across a variety of online platforms. This can include calls, campaigns, emails, and surveys.

This could be a possible scenario that you may encounter. You have scheduled a demo for someone sometime next week. This particular lead might start somewhere simple. That person will visit your website to view information about your company. A notification from SalesSignal will inform you of this. Data that will be useful to you is the amount of time that person is spending on what s/he is looking at. You can even gain access to the web pages that person has spent time on. Remember that scheduled demo? Now, you can integrate bits of this useful information. It will help prepare you and increase your chances of converting that lead into a sale or deal.

 

Feeds

When you click on this particular module, you will be able to interact with other members. Talk about a group effort! Here, you can discuss making decisions about certain things. This will be a faster process when it comes to securing deals. It is useful because these updates will inform you where other members are in the process. If there is a sense of urgency, you can mention certain people or groups to relay such information faster. Notifications can be found under the Feeds tab.
 

+ Icon

Clicking on the + icon allows you to add records from this list. This includes Leads, Contact, Account, Deal, Product, Quote, Sales Order, Purchase Order, Invoice, Campaign, Vendor, Price Book, Case, Solution, Task, Event, and Call.
 

Calendar

Next to the + icon is the Calendar. Clicking here will immediately give you access when you need to add an event or schedule a call. There is an option to mark yourself as unavailable to take calls or other activities on a certain date. On the top right, you can find if your contacts have sent an invitation. You have the option to mark it as Accept, Maybe, or Decline.

Conclusion

After going through the basics, Zoho CRM is easy to understand and navigate through. Once users get the feel of it, it’s intuitive to use with its smooth interface. It’s simple enough for any beginner given a short amount of time. For training, it doesn’t take too long before someone becomes familiar. Any user will enjoy using the functional Zoho CRM because of its high-end features. Bonus points go to its customization options. Users can customize settings so that they too are comfortable using the software. Not only that but they have the option to choose which features they need.

Zoho CRM is a sales tool that is ideal for small teams especially startups. It’s not intimidating to use like other existing sales tools. No wonder it’s been the market leader for the past decade. You can connect with your customers anywhere and anytime. Also, you can save more time with its automation features through real-time insights. You can expect increased numbers in sales, high customer retention, and faster growth. Everyone can enjoy using Zoho CRM. Users can be anywhere from startups to large enterprises. If you’re talking about budget, this particular sales tool is affordable. It will cater to serious business people who are always on the move yet stick to a budget.

In your opinion, what do you think of Zoho CRM? Or if you’re a first-time user, would you consider using it? Please share your experiences with us about the sales tool.

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How to Use Hubspot CRM as a Sales Tool Among Startups

What keeps a business running? If you said the people who run the company or work in it, you’re almost there. Believe it or not, it’s the customers! They are the most important assets because, in reality, they are the ones that keep a business going. Think of it this way. If your business doesn’t have any more customers, what will happen? That’s right. Your business will might have to cease operations. It’s because there is no continuous flow or movement. Nothing will happen to your business. As a result, you might be forced to move to something else. If you want more and more customers, the first step to getting there is to treat them right and make them feel valued. You want these customers to become loyal. You want them to stick with you until the very end.

What keeps a business running? If you said the people who run the company or work in it, you’re almost there. Believe it or not, it’s the customers! They are the most important assets because, in reality, they are the ones that keep a business going. Think of it this way. If your business doesn’t have any more customers, what will happen? That’s right. Your business will might have to stop operations. It’s because there is no continuous flow or movement. Nothing will happen to your business. As a result, you will have to think of moving to something else. If you want more and more customers, the first step to getting there is to treat them right and make them feel valued. You want these customers to become loyal. You want them to stick with you until the very end.

Truth be told, the Marketing and Sales teams are the backbone of any company. They work hand-in-hand and it’s difficult to separate the two. It’s because they are interdependent. Another reason is that they are responsible for bringing in every single customer. But, this can be one of the most challenging tasks around. Why is that? It’s because both teams need to be on their toes at all times. The Marketing team needs to be original and creative at all times. It’s because they need to make such products and services appealing to everyone. It is challenging for the Sales team. They are the ones who interact with the customers. Their main task is to convert strangers into customers within a short amount of time. 

We can always use an extra hand to help us out, right? Of course, HubSpot CRM is there to help out the entire team in the shortest time possible. Hubspot CRM is the handiest tool out there to assist everyone with their tasks. The teams in marketing, sales, service, and operations will be lucky. That’s because they will experience a smooth flow in all directions. This will focus on converting strangers into prospects, customers, and promoters. 

It is a useful sales software that centers on customer relationship management. It is a platform wherein users use to build a stronger relationship with their customers. Other than that, it will increase conversions and raise revenues. It is easy to use and will help users keep track of these business relationships in a single platform. In return, your customers will receive a better customer experience. Users will have a higher productivity rate. There will be an increase in efficiency and collaboration among employees. That’s a win-win situation for all.

Why HubSpot?

You will love HubSpot CRM at your fingertips. You can expect productivity and efficiency to increase. This means everyone will get more work done faster. This is assuming that everyone is carrying their weight. Also, they are exerting as much effort as everyone else. Yes, this is the best software to work with as it focuses on customer relationship management. It’s the perfect tool that will boost sales and will rake in profit in the long term.

You can’t afford to spend time on each administrative task. It’s because that’s a big time-waster. That’s why you need an automated tool by your side to shortcut things. Once your business starts to grow, you can track everything. Everything is in a centralized system. This time-saving tool will help you become organized. Also, it will allow you to spend time on more important things such as sales.

Everything starts at that exact moment when a potential customer visits your website. That person’s activity will be recorded. This includes the time spent on what that person is looking at. You can tell a lot about what that person is looking at and his/her interests are. You will learn how to use this information later. This is especially when the time comes for you to reach this potential customer.

If we’ve got you hooked, here’s an introduction to HubSpot CRM:

It is helpful when you are browsing your emails daily. Why is that? With HubSpot CRM, a sidebar of useful information about that person will pop out. If you are sending an email out to someone, you can compose emails based on that person’s interests. Instead of composing an email based on each person, you can save time by saving these as templates. That way, you can scroll that list and pick out the template most suitable for that person. Also, you can track that email if it has been opened by the recipient. You’ll find these saved templates under Conversations.

What Awesome Features Does HubSpot CRM Have?

The most standout feature of HubSpot CRM is the ‘Log in CRM’. Once activated, it will create important details for the customer. This way, you will save lots of time instead of a slot for it via data entry. This means you can spend more time focusing on the actual sales part. The beauty of HubSpot CRM is that it records every interaction on a pipeline. In case if you need to go back to it, you can view everything including the past emails and recorded activities.
 
HubSpot CRM allows you to know the most important details of your customers. You can use it to your advantage. Customers don’t want to receive emails that lack personality. It’s worse if it’s a single template used for all. It sounds monotonous or robotic. That same email could even land in the Spam section.
 
By injecting personal details here and there, they are more likely to respond to you in a friendly manner. For example, they won’t be able to respond to your email due to vacation. You can set up reminders, make a follow-up, or schedule emails. An important detail picked up on this is that you can ask them how their vacation went. This small but important detail injects warmth. It will make the customer feel that you care about him or her. That’s the beauty of using HubSpot CRM.

What Will I See?

Here are some helpful things about the tool. The first thing you’ll see on your screen when you are using HubSpot is Sales Dashboard. On the top bar, you’ll find Contacts, Conversations, Marketing, Sales, Service, Automation, and Reports. It looks and seems pretty straightforward, right? If you’d like to view your previous, click on Contacts located under Contacts. No surprise there. Here, you’ll find records about your contacts. The ones you’ve communicated with before. HubSpot CRM will record details like name, email address, and contact number.

If you are looking for something specific contact or company, use this tip. Click ‘Add Filter’ to narrow down your search. For example, you’re looking for contacts belonging to a certain company. You can click on that particular company. You can save this customized filter so that you can come back to it anytime you wish to. There’s also an option if you want it to remain for private use or share it with others. Other than Contacts, you can click on Companies. This is if you wish to view the companies affiliated with the contacts that you’ve reached out to. This option might be easier for you in case if you need to target a specific company.
If you wish to check all the activities that you’ve done in the past, click Activity Feed. This is helpful especially if you want to look back on what you’ve done on HubSpot. Under Ads, you can sync them from various platforms like Facebook and Linkedin. If you wish to send out email campaigns to your contacts or companies, click on Emails. Another useful feature under Marketing you may want to look into is Calendar. You’ll find it by hovering the mouse over Planning and Strategy. Here, you can start planning activities ahead of time in an orderly manner. If you wish to start a new campaign, click over at Campaigns.

For the Sales team, they can reach most of their tasks by clicking on Sales. Ongoing deals and projects are under Deals. These can your individualized deals or you can view how the members or teams are doing. This is helpful if you want to watch or several deals since there’s a pipeline to see things. If any person has assigned you specific tasks, you can view them under Tasks. It is also the same area where you can create your tasks for yourself to work on. Aside from that, you can assign tasks for other people.

Under Documents, this is where you can download important files. This is especially if anyone on the team will use them. For Sales-related calls and meetings with customers, you can find this under Meetings. There is an option to sync your Calendar in real-time if you have an upcoming call or meeting. At the same time, you can set up and share any sales meeting link with others. As for Playbooks, you can find useful information that’s part of your sales funnel. They are step-by-step instructions that will tell you how to do something. 

Under Services, you will find two tabs. Those are Tickets and Service Hub. Under Tickets, you will find here submitted support requests. It is recorded as a ticket and there’s an option to assign to someone. For Service Hub, there will be a drop-down list of services. Moving on to the next tab is Automation. Here, you will find Sequences and Workflows. Most people in sales will find sequences under this tab. These sequences can be sent out on a 1-to-1 basis. The marketing team is the one who encounters workflows and will find it in this tab. Managing workflows can be quite tricky. But, it will be easier if you find a way to organize them by putting them into folders. Or have someone else work on that.

The last tab on the bar is Reports. You will find three things: Analytic Tools, Dashboards, and Reports. Under Analytic Tools, here are useful features that are not seen in the toolbar. These include Traffic Analytics, Ads, Events, Website Analytics, Campaign Analytics, and Contact Analytics. More tabs include Competitors, Prospects, and Tracking URL Builder.

For settings, go ahead and click the Settings icon found on the top right. You can adjust basic settings here according to your personal preferences. The ones that you’ll be needing the most are Basic Info, Notifications, and Security. Other settings you can find here are Account Defaults, Contacts & Companies, Conversations, Domains & URLs, Import & Export, Integrations, Marketing, Private Content, Properties, Sales, Tickets, Tracking Code, Users & Teams, and Website.

With HubSpot as an addition to your company, you will enjoy its smooth and intuitive software. It’s affordable and straightforward to use. Any newbie will become a pro in no time. We need to iterate that you need to start learning more about your customers. That way, you can develop meaningful and genuine relationships with prospects and customers. Believe it or not, when you start using HubSpot CRM, it will help you and your customers grow bigger and better. 

Start taking advantage of these time-saving tools today among your teams. This automated system manages relationships with customers. Not only that, but it takes it to the next level. Establish the relationships of your customers today. Tomorrow, you will build your database. With a growing number of satisfied customers, they will do the work for you. The same customers will promote your products or services. As a result, they will bring in more potential customers.

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How to use Notion for Startup Sales Teams

Organization is something that some of us often struggle with daily. There are so many things to deal with in a short amount of time. But hey, it’s a matter of putting the highest to least priorities on the list. Organized people have no problem with this. It’s because it has been wired in them or they have trained to do this very early in life. Not everyone was born with such skills. For others, it can be somewhat of a struggle. Some of us need to make lists or general reminders that will tell us what to do. Remembering things as you get older can become a nightmare. Fear not, there is a useful app out there that can help us to put things into motion. Notion will help us become very productive. Whether we use it for ourselves or working with others to get things done.

General Facts about Notion

 

 The all-in-one workplace

Notion

Founded in 2012, Notion gained immense popularity. The number of its users has been growing as we speak. They started as a startup in San Francisco under the name Notion Labs Inc.
Notion is a popular note-taking platform. It serves for storing information in the form of databases. You can use this app for anything. Ranging from material to learn, contact lists, marketing to sales, and much more. Furthermore, it includes calendars, that once set up ease the workflow. This works by automating processes through for instance: reminders.
Its main purpose is to boost human productivity and help with the organization of a wide range of tasks. With more than 4 million active users (last count in April 2020), this seems to be trustworthy. Moreover, Notion is backed up by tons of YouTube videos. Here, people share their experiences, templates, and methods on how to be productive. Besides that, Notion has platforms where users can share their templates. Users themselves can also share templates by leaving links on their websites. This definitely helps in the creation of a specific system. With so many users, it is very unlikely that one’s issue has not been discussed somewhere in the community.
Coming to the structure of Notion, it uses an underlying system called the kanban. It comes from the Japanese word “billboard”. This set-up improves efficiency by showing people everything on one board. Their whole progress is depicted step by step. It has been achieved is also captured, which is very motivating. A simple structure could be the following:

A simple structure is a stable one

Due to its simplicity, people receive an overview and feel calm. It does not overwhelm its viewers. It is because it is not bombarded with too much text or graphics. Having an overview means controlling the situation. It calms the nerves when you need to do many things. Also, you do not have to use much energy in figuring out what still has to be done and what is already done. There is a flow of efficiency. It allows one to see what needs to be done to complete it.
This extends to more complicated structures, which are still manageable such as:

Notion is doing the same with scheduling reminders. It helps people to stay on track with everything. Furthermore, these team dashboards are split up into individual ones. It breaks down complexity to simplicity. Everyone knows what to do. But, it is still possible for the individual to check what the others are doing. If someone is stuck, Moreover, a big plus again, progress can be seen immediately. Thus, bottlenecks are identified as the following picture of the kanban system illustrates:

 

 

A clear sign of too much going on at once!

In conclusion, the kanban method in its core is simply the following guidelines:

work is pulled when capacity permits

Talking more about the app, it can be used alone. Or individual or in collaborations with friends, colleagues, and whole teams. Actually, there is no limit to how many people can be invited to view, comment, and edit the shared workplace. And as in Whatsapp, some admins invite or kick-out people. It also has a cool feature in the fact that you can share a file with someone who does not have the app. You create a link and that person works on the online version of it.

Next to that, many integrations of other software are possible. For instance, Google Calendar, Slack, Outlook, Trello, or Salesforce can be integrated. This adds to the statement of Notion in the beginning: The all-in-one workplace. Yet, one has to state that there exist some flaws and limitations. Many software tools can not be integrated. The following website provides more information on that. It should be consulted if issues arise:

Notion Integrations: 9 ways to add widgets (and use the “unofficial” API) (radreads.co)

 

There is another aspect that is valued about Notion. It is a fact that many pictures and icons can be inserted. It is used to give texts, notes, databases, and so on a visual appeal. It helps again to give a better overview and find files and sections easier.

 

 

Notion and Sales 

Coming to the main focus of this blog: Is Notion a useful software tool if it comes down to Sales?

To be frank, the answer depends on what you need for Sales. Notion can handle databases. But, if these databases get too large, Notion gets slow. That is why it is recommended for small to medium-sized companies. It is intended for specific projects. Having said that, what can Notion offer?

Notion can function as a CRM (= Custom Relationship Management). You can create databases with it. It includes all contacts and categorizes them according to your needs. Here to give you an example:

By filtering things, you can also set up a dashboard with daily tasks.

A well-structured Notion template for Sales could be the following. First, the information is centralized within related master databases. After that, contextual views within dashboards can be created. What does this mean? Essentially, you create one main database. It consists of all contacts with all the information attached to them. If you work on a specific case, you can filter the information. It is according to the aspects you need for the project. Later on, you can add new information to it. Through this approach, redundancy is minimized and information is kept accurate and consistent. Furthermore, this relationship-based navigation is very intuitive. It results in quick orientation in the mass of information.

 

To give a more concrete example, let’s imagine we have our database with our contacts in them. In this database, we have written down the cities and countries where these people live. Now, we are interested in targeting only clients in let’s say Germany. We can create a dashboard with all clients in Germany with ease. You can do this with any aspect you are looking for, as long as you have pre-defined it. So, it’s very simple and acts quickly in all you need to know. Moreover, you can use several filters and come down to niches. You can set up these individual dashboards. You can share them with the team to bring clarity to the projects. These dashboards can then be divided. Every member can again create their own task dashboard. Here a video on the filter tool, which can be used in diverse ways:

 

 

Some Concrete Notions 

In the section before, I have listed features that are known and advertised. There is more evidence for the usefulness of Notion. I looked into concrete examples of people. They are basing their whole business process on Notion. After having looked more at how successful people use Notion for Sales, here are the most common points I found. These points are features of Notion that were said to be special and unique. As a reference these are some of my sources:

Do check them out, because they provide cool and easy structures for building a good CRM. Maybe they inspire you 😉

 

What most of them highlight is the aspect of simplicity, which we have figured out before. For some of them, simplicity in Notion meant the following:

Notion changed their way of thinking about tasks. Instead of making task lists, they scheduled the tasks immediately. Instead of having a permanent to-do-list that you carry around for days or weeks. They scheduled the tasks that came to their minds. During the day, they put everything that came to their mind on a list. At the end of the day, they reflected on the tasks and put only the most useful ones into the scheduling system. Even whole processes could be split into tasks and scheduled in one go. This results that some days are already planned weeks. This means no important task is left behind. Due to the easy overview, the whole system is flexible and lets you work with the capacity that you have. So, if some tasks were not then on a specific day, you can find spots that are open on other days. This feature makes tracking certain tasks almost in an intuitive manner. It is because tasks can be connected and you can visualize the “task-line”.

Also, Notion was often praised for simplicity. It was known for its minimalistic style of writing down the information. You can decide what information you need and don’t need and add/remove these. 

Also, automation with templates war emphasized. More in detail: templates for …

  • proposals and presentations
  • emails, social media 
  • sharing routine information with partners and clients 
  • brainstorming and to-do lists

… can be saved, it is adjusted for the target, or reused.

Even when you add files, links and videos, the overview effect does not get destroyed. The icons for these are very small and save space, but you can recognize them at one glance.

One Issue with Notion

One issue that is important to mention is the issue with data privacy. Notion is not secure. What exactly is the problem?
Notion does not support end-to-end encryption. Just to give an example, Whatsapp uses end-to-end encryption. Meaning that only the sender and receiver have the key to access the written messages. Notion has only the basic TLS (transport-level security). That is an encryption type only present at rest and in transit. So, there is some sort of protection of data from most third-party hackers but not from Notion itself. Notion could look into your data, save it and forward it to someone else. Here the COO of Notion, Akshay Kothari argues the following:

The security lies in the trust that we have in the company

As consumers, we have to trust that our information is stored confidentially. And believe it will not be used in any unwanted way. Currently, Notion is working on a more secure way of providing the service. Until this date (3.02.2021), I have not found any updates or changes yet. To be frank, as long as the information is not too private and I don’t think there will be any issues with using Notion. Especially, since I have not found any leakages scandals.

 

For more information and insights see the following video:

 

If security is not an issue, Notion is a reliable virtual workspace app. If simplicity and minimalism work out for you, there should have no problems when it comes to Notion. It’s very easy to use and you can navigate through it with ease. It emphasizes the priorities of each user. So, it increases the productivity of each member. In this way, everyone will contribute wholly to the entire team.

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4 Ways You Can Start Building Your Wealth in Your Teens

At this age, the world does provide unlimited opportunities. In fact, this generation (and the ones to come) are lucky. Every day, our lives keep on improving. Most of our necessities have been met and it’s time to deal with other things. Also, it’s a matter of perception. If you have a negative perspective, you won’t recognize obstacles as opportunities. Optimists will view these same challenges disguised as opportunities. They will speak out if you know where to look. If you’re not afraid to reach for your goals, this article has been written for readers like you. You have the potential to stand out and inspire others.

Everyone needs to recognize the fact that building wealth at any age is possible. That’s right! If you’re familiar with Ryan Kaji, he is one of the biggest names out there. In 2015, he started unboxing toys and making his own toy reviews (with the help of his parents) at the age of 4 years old. Can you believe it? 2 years later, his parents signed up with PocketWatch. It is a startup media company targeted at children. Now, he is 9 years old, has his own app, games, and merchandise. Until now, he is still making a lot of YouTube videos and there is no stopping this wunderkind. It didn’t happen by pure luck. It was a combination of striking at the right time. Not everyone was doing it. Discipline and hard work with the help of his parents catapulted this kid into great heights. It seems like everyone is vlogging. But it takes originality, likeability, and other factors to stand out. No other child influencer can reach the popularity of Ryan. 

“Building wealth is a marathon, not a sprint. Discipline is the key ingredient.” – Dave Ramsey

If you think about it, it’s too late for many of us to start as a kid. We were living the best of our childhood. But hey, that shouldn’t stop us there. Ryan Kaji proved to us that accumulating wealth can start at any age. You don’t need to wait until you graduate out of high school or college to start building wealth. As a matter of fact, you can start at any time you want to. Some can start during their teen life. The earlier you get started, the faster you’ll accumulate knowledge and experience. The advantage of building your wealth early is that it is so much you can learn along the way. If you want to retire early, you will have to start early. You don’t have to clear out your entire bank account to learn the secrets. It’s more important to change your mindset starting now. Begin picking up useful habits and improving your skills.

We have been fortunate with the current technology that is available within reach. Not only that but there are so many tools out there that you can use. The real question you need to start asking is, what are you good at? What are you passionate about? Are you willing to put in the hard work and extra effort? If that’s a big yes, here are some things you can look into.

1. Start Reading as a Habit

“An investment in knowledge pays the best interest.” – Benjamin Franklin

Trust us when we say this. Reading is one of the most important skills that you can ever pick up. Start reading not because you have to. Start reading because you want to know more about building wealth. An important book that will get you started is titled Think and Grow Rich written by Napoleon Hill. This book is about bringing out your inner intention. Especially when it comes to reaching goals defined by your purpose. It is based on the commonalities that all successful people have. After reading this book, you will have the same mentality as them. This mindset will get you further and closer to your goals, whatever they may be.

The second book that you have to read is How to Win Friends and Influence People by Dale Carnegie. This book helps you increase your popularity and create meaningful interpersonal relationships. Also, you’ll win over people with your way of thinking. Keep this in mind if you want to have a successful business. You need to communicate and negotiate to get people on the same road as you.

Reading is a necessary skill for any entrepreneur at any age. For a start, these books will definitely put you on the right path. This will give you the right foundation while you are building your wealth. Focus and train yourself to have a powerful mindset. It’s easy to achieve this. Start learning from the effective tips and techniques of successful people.

2. Choose A Career

“I say always follow your passion, no matter what, because even if it’s not the same financial success, it’ll lead you to the money that’ll make you the happiest.” – Ellen DeGeneres

Now that we’ve got you focused, the next step would be choosing a career path for you. As young as kindergarten, a teacher will ask you what do you want to become. As a kid, you’ll think of the first profession that pops out of your head. And like many kids, it’s so hard to choose because there are so many! Fast-forwarding to the present, you should be the only one who will decide your career. Not because a parent wants you to become this (add title) or someone designed it for you. Your career should be something you should be sticking with for the long term. It’s so easy to get lost since there are so many career paths out there. We don’t blame you. It’s not the easiest task to do. But we can break it down for you.

The first step would be to do as much research as you can. After all, this is where your main source of income will be coming from. When the time comes, you can finally narrow down your options. Figure out ways on how to follow that career and challenge yourself by doing everything for free. After all, you can gather all the necessary information from the best source – the internet! If you aren’t maximizing the use of Google and YouTube, then this will be the perfect time to do so! You’ll be surprised there is so much information on everything. Great sources can come in the form of articles, blogs, or even videos! This way, you can make your own decisions for yourself. Again, at any age even as a teenager.

3. Gather Experience

“Learning is a matter of gathering knowledge; wisdom is applying that knowledge.” – Roopleen

It’s wonderful you’ve decided on what you want to do for the rest of your life. Knowledge wouldn’t be much of use unless if you apply it into reality. Picking up something from reading is different from actually doing it. It’s better if you actually go out there and do it yourself. That way, if you encounter any problems along the way, you can figure out how to solve them in your own way.

You don’t need to wait for “it” to happen. Make it happen! Waiting for something wastes a lot of time. There are so many things you can pick up from actually doing something. Overthinking and worrying about “it” won’t help as well. It will get you nowhere. It will prolong you from achieving your dreams whatever that may be. Take a leap of faith and trust in yourself. Everything will work out in your favor if you take action. After all, any experience is the best teacher.

If you want to achieve your long-term goals, you will need to break them down into smaller ones. The short-term goals are easier to achieve when you take them one step at a time. Once you’ve achieved one step, direct all your attention to the next one. If you only focus on the long-term goal, you might not even get started in the first place. These are the things that you can control because they are manageable. 

4. Learn from Mentors

“Mentoring is a brain to pick, an ear to listen, and a push in the right direction.” – John C. Crosby

If you are decided on which career path you have chosen, find successful experts in the same field. Approach these mentors and offer to work for them without getting paid. When asking them, be honest with your intentions. Explain what you’re doing right now. In exchange, you want to learn more about the business since you’ve chosen this career. Trust us when we say that this is one of the best learning experiences that you’ll ever get to do. If you are still in your teens, offer to work for free. In this way, you will gather invaluable information along the way. It is firsthand knowledge that you can use for your own experience. It is better to learn from someone than sitting around doing nothing. You will definitely get a head start compared to the others who aren’t doing anything about it.

Even if you observing them, you will instinctively adopt the same habits. You will uncover the reasons what make these people successful. Is it because they wake up early? Do they have a schedule they stick to? Do they have a healthy work and personal life balance? If it helps, keep a daily journal of activities that you are required to do. This way, you can look back and keep track of everything important. Learn as much as possible as you will use all this to help you later on. Again, don’t sit back and wait for things to happen. Be assertive, show initiative, and make good use of your time. 

Be prepared to face a lot of rejections. Not everyone will accept you under their wing. This will be for various reasons such as a hectic schedule, lack of interest, or others. The ones who will reach out to you will want to help you out to get started. They want to see someone already making their way around. One day if you become successful, it will be all thanks to your mentors. You have learned something from them and unlocked something within. Thanks to them, you have learned something and made it into your own that helped out with your own success. Don’t forget to thank them, if possible.

Again, building wealth at any age is possible. You can train your mindset to focus on what you want. That’s where you have to take a look at yourself and see what comes for you. Or what you’re good at? These passions should derive from a combination of intrinsic and extrinsic motivation. In other words, you should pursue something because you enjoy doing it. The best thing about it is knowing how to do it and being rewarded with monetary rewards. Start today! Read, settle on a career, gather experience, and learn from mentors and experts. These are things that you can do that will put you a step closer to your dreams. 

Building wealth does not mean being greedy. You are putting yourself one step ahead of the others. Instead of joining the rat race, you would rather avoid a nasty cycle. This cycle includes the burden of unnecessary loans and debts. It means that you are on the right path to achieving financial independence. You are not relying on your parents or anyone else except yourself. By investing in your wealth, you are investing in your dreams. At a young age, you are opening yourself to unlimited opportunities. As they say, the world is your oyster. Nothing can stop you from reaching your aspirations, dreams, and goals.

Community

 

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4 Things School Failed to Teach You About Money

Everyone wants to have money. Lots of it. Who doesn’t? Admit it, it’s part of human nature. It’s because everyone wants to afford a certain lifestyle. Sure, it’s wonderful to have beautiful things such as cars, houses, and other luxuries. Let’s say you do become successful in your startup. Your bank accounts are looking nice. If the numbers keep increasing, that’s great for you! You might be making a higher income than most people. The problem may lie after having plenty of it. The next question is, how do we manage it? If we don’t know how to manage money, we may lose it in the quickest way possible. Poor management can have catastrophic outcomes. The final resort would be filing for bankruptcy. Of course, that’s the last thing we want to happen. Believe it or not, it happens to people like celebrities, millionaires, and the list goes on. If it can happen to them, it can happen to you!

The real questions we must ask ourselves are these. Must we succumb to the endless cycle of debt? Is there a need to get things that are out of our reach? Is it normal to live from paycheck-to-paycheck? Whether you like it or not, many people fall into the same trap over and over again. After reading this article, you’ll realize it doesn’t have to be that way. With knowledge in handling personal finances, we can arise better than that. Be the change in this generation so that you too can afford that lifestyle you’ve always wanted. Settle your priorities first and realize what’s more important. 

“Academic qualifications are important and so is financial education. They’re both important and schools are forgetting one of them.” -Robert Kiyosaki

The transition from being a student to a worker is not an easy one. We cannot apply everything we learned in school in real life. There are a lot of realizations that we’ll encounter. From that, we have to adjust ourselves. We have to unlearn the things we learned in school to relearn. This is the harsh reality that everyone will have to deal with. This is the stuff that we don’t learn in school. It doesn’t make our lives easier. If we learn a few essentials now, it will be easier to deal with later on. We must put on a brave face and never stop learning no matter at what age we’re in. 

There are many things you’ll learn on this journey. First, it starts with acquiring knowledge by reading this article. These are the things they don’t teach you in any school. To be honest, education systems need to be changed badly. As a result, fewer people become trapped in their worse nightmare. Having a basic subject on Financial Literacy or Financial Management will do wonders. It would have prevented or alleviated these problems in the first place. Most schools train us to become employees, instead of being entrepreneurs. Training should start with thinking outside of the box. Being an employee is great but only to a certain degree. Being an entrepreneur gives much more freedom when it comes to time and effort. 

1. Not All Schools Offer Basic Education Courses

Aside from technology, the education system of man schools hasn’t changed much. It prioritizes other subjects like English, Mathematics, and others. Any student can be knowledgeable in these subjects. It’s upsetting that not everyone knows how to handle personal finances. Why aren’t schools more focused on practical life skills? Isn’t that what’s causing problems in real life? 

Schools shouldn’t focus on grades and assessments. Once you graduate into the world, they won’t matter as much. This might sound familiar. Our parents told us that if we excel in school, we will get offers from reputable companies. This is not the solution. Welcome to the 21st century, folks! This is a lie for us to stay focus in school. We know much better now. Companies are more interested in your potential and ability. And how you can be of use to achieve their vision. In return, you’ll receive compensation with monetary benefits and rewards. 

Once a student graduates from school, reality will slap in hard. Once we get a job, we won’t be assessed on grades. It’s more about ability and performance. No one tells us how difficult it is to manage personal finances. The most practical tip is to save more, spend less, and invest more. The irony after graduating from college is that we shell out more money to take up more courses. There’s nothing wrong with doing this especially if you want to excel in your chosen career. The real question is this. Wouldn’t it be more practical to have more subjects that simulate real-life in school? Personal finance, for example. It would make more sense you have some kind of idea on what to do after graduating from school.

The findings of the Financial Industry Regulatory Authority’s Investor Education Foundation are promising. High school students who took up personal finance subjects scored better credit scores. They also had lower debt delinquency rates later on. Personal finance subjects should be introduced during high school. Now, students will be able to handle their money better. It will prepare them for college and university life. It will still be applicable for the rest of your life. 

2. Consumerism Equals Temptation

Whether you are working or receiving money through university, budgeting is a concern. Freedom is still there but it’s still limited. Once you start working, receiving that first paycheck is the best feeling in the world. You feel invincible more than ever. Chances are you’ll want to spend your money on the things that you’ve longed for. Why? Because you’ll feel it’s the right thing to do. It’s a reward for yourself and that you deserve it. But that’s okay. As long as you don’t trap yourself in that cycle, living from paycheck to paycheck.

Every day we are bombarded with media advertisements. They are telling us to buy new cars. Banks are telling us to sign up loans with them. Technology companies are telling us to buy the latest phone or laptop. We can’t lie, it’s nice to have all these things. We may or may not choose to respond. The problem is if we have money in our bank accounts, there’s a reason not to spend it. That’s where the problem lies. If everyone else out there is telling us to buy, why isn’t there anyone who is telling us to save? Is there anyone out there knocking sense into us by saying, isn’t saving is the better option?

Everyone who learned the basics of financial education earlier is lucky. It would have a tremendous impact later on. It will teach us to think twice before spending. In this time and age, we have to make important decisions with money. It’s not about spending all to make others green with envy. The best decision would be to save it for future investments so that you can make more money from it. Wouldn’t that make more sense? 

3. Trapped in a Vicious Cycle

Any relationship with finance normally starts at home. We witness how our parents dealt with it. If your parents had no idea how to deal with finance, chances are you’ll adopt this. Why? Because it’s the only knowledge you picked up. Based on experience, there are a lot of problems. Especially when it comes to poor spending habits and debts that are piling high. Break the vicious cycle. With you, it doesn’t have to be this way since you know better. Ask yourself which is more important? Should we maintain a luxurious lifestyle by having no money in the bank? Or become debt-free but having more than enough in the bank? You know the answer to this question.

Some people think it’s part of life living from paycheck to paycheck. It might work out for some people but with those who plan, it won’t do. Living this way is rather reckless. What if something bad happens to you? Will you have emergency funds to help you recover? If your answer to this question is no, you have to start thinking and planning for your future. No one wants to be trapped in this vicious cycle forever, right? Good, you can start right now.

That’s why it’s important to invest yourself in the basics of financial education. We don’t want to be that generation trapped in student loans or car mortgages forever. That’s why we have to be financially prepared by taking calculated risks. We have to curb our spending habits and cut unnecessary splurges. Our spending habits will determine our saving habits. 

4. Never Stop Learning

Where do I start? Hey, if they haven’t reformed the education system based on the current trends, that’s out of our reach. It doesn’t matter where you are right now. If you are starting life after graduation or already on your way. Don’t lose hope. There is hope for everyone. Change can start right now. We can find solutions to the problems we created in the first place. What do we do if we want to be more financially prepared? We can research, learn more, and even enroll in basic personal finance courses online. 

The first step is getting started. Believe it or not, there are so many resources online that are waiting to be discovered by someone like you. The best thing you can do today is to steer in the right direction. Develop the right kind of habits. Most importantly, be practical and consistent in everything you do. One day, you too will be able to reap what you sow and enjoy life’s rewards. 

We are sure that everyone is interested when money is involved. It’s a matter of developing good habits now because it will help us later on. We want to influence the younger generation and even one day, our children. We don’t want to see anyone struggle and be trapped in the same vicious cycle. We want everyone to take life into their own hands so that they can enjoy the most out of it. We will be able to shape our future better and achieve our dreams in the fastest route possible. Wouldn’t that be wonderful for everyone?

These are some of the things that you should be able to help you out. No matter where you are in life. We are still thankful that we are or were able to go to school. Many of us are pursuing our careers and passions. But, there are a lot of things that schools can improve on. They need to consider the trends that are happening right now. These education systems need to produce financially capable students as well. We can spark change and inspire the future generation. After all, they will be the ones needing it the most. 

It’s impossible to revolutionize the entire education system. It will be a slow process, depending on which country. We have to start with ourselves. It would be nice to wake up with this. You are glad that the next generation won’t encounter the same financial problems. A smarter generation won’t fall into the same money trap that the previous ones fell into. We must have better saving and spending habits when it comes to money. We can learn to stay focused on our goals. If that includes being financially independent of debts, at least we know where to start.

“The single biggest difference between financial success and financial failure is how well you manage your money. It’s simple: to master money, you must manage money.” – T. Harv Eker

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5 Best Purchases Everyone Can Make in Their 20s

Fresh from your teenage years, the 20s are the best period. It’s the time where you have gained true independence. It’s a time of change as well. You might have moved out of your parents’ house and starting on your own. Without realizing it now, it will become the most turbulent period in your life. Sometimes, you’ll buy unnecessary material things based on unexplainable whims. Or the latest purchases are to show off to others. You want to tell the entire world that you can afford nice things and impress your circle of friends. For others, it could be something nice to post on social media. You might spend more time socializing more than anything else. You will meet all kinds of people from all walks of life. This is the perfect time to start networking as you’ll never know you’ll be needing them later on. You’ll realize that you’ll need to surround yourself with the right people. Hang out with a crowd who shares common long-term goals other than impressing others.

Most people agree to be in your 20s is about “having the time of your life”. This period is about having fun and enjoying yourself. On a serious note, you are most likely on the path to finishing a bachelor’s degree. Others plan to take up their master’s degree. This stage is discovering who you are, learning new things, and finding out which things work for you. Now, you are starting to work or pursuing a career you’re very much interested in. For many, it will be the first time earning X amount of dollars. It will be a big accomplishment earning for yourself. It means you’re not asking for money anymore from your parents. This means you can look after yourself, buy nice things, and do the things that you’ve always wanted. Everyone will be in their place in life but more or less, you know what the 20s are about, right?

Aside from everything you’ve experienced, it’s normal to make mistakes along the way. Everyone does and it shows that no one is perfect. The best thing about these failures is that you can overcome them. You will become a much better person afterward. But, there are readers like you. Most of you are interested in using this time to build and accumulate wealth. But where to start? Being clueless stops right here. In this article, we’ll discover how to make the best purchases in your 20s. Use them to your advantage as you will need them to assist you in building your wealth. This will be a real eye-opener for everyone. It will be for people who want to secure one’s wealth and learn how to build it from there. You’d like that very much, right?

“I think your 20s are the hardest part of life. I mean, everyone goes on about how hard it is to be a teenager, but actually I think it’s tougher to be in your 20s because you’re expected to be a grownup and expected to earn your own living and be successful and I think you feel like a kid still.” – Nigel Cole

 

Best Purchase #1: Invest in Your Education and Career

If any of you are decided on what to do the rest of your life, the first best buy you can do is to invest in your education. It will determine the outcome of your career. The main reason behind this is that education will increase your worth and income. For example, if you commit to becoming the best lawyer there is out there. The first step would be to enroll yourself in law school. After getting your degree, you’ll need to spend money towards getting your license. This applies to other professions as well. To further advance your career, plan on getting into a specialization. It will help you propel in your chosen career. One small choice can affect the outcome of your entire life. It would be safe to say that investing in your education will get you further in life. Especially if you know what to do with your knowledge. 

If you still aren’t sure what to do when it comes to your career, that’s okay too. Not everyone has a vision for themselves. Try to see what you enjoy doing, identify your strengths, and follow what your passions are. It should be something where you see yourself in the future as well. It should not be a temporary thing that will disappear tomorrow. Based on this assessment, you can see it from there and decide which career would best suit you. Later on, you’ll see what career opportunities will arise from that. There are plenty of online courses to explore so see which ones fit best.

Since you still have a lot of time on your hands, your 20s will focus on increasing income. Work hard and be smart about the investments where you put your money in. This is the time where you can solidify the foundation of your career. In other words, grow and maintain your career so that you can continue to make investments. The best time will come when you have made money from them and use it again to keep on investing to build your wealth. By investing, you won’t have to work as hard as you had to before. Again, the first investment should be on yourself and your career.

Best Purchase #2: Invest in a Reliable Secondhand Car

You can rely on public transportation to get around. If that’s not an option, considering buying a reliable secondhand car. It will be one of the best buys you can ever make in your 20s. If you are focused on building your wealth, it will save you a lot of money. Think about the functionality of a car. The main purpose is getting around in the fastest and most convenient way possible. Now for a fraction of a cost, you’ll be able to do this. Sure, it doesn’t look cool and doesn’t get everyone’s attention. If your real purpose is to build wealth, this will come later on. By the time you are stable, you will be able to buy any car that you want. This time will come without this major buy being a financial burden. 

Some of you might think otherwise. Start thinking about how much of your income will go to the expenses that come with it. This includes the car, gas, regular maintenance, insurance, and repairs (if any). If you add the total of the costs, you will see that it will eat away a large part of your income. The real question is this. Will there be anything left? You will have other expenses. Housing, groceries, credit card bills, to name a few. A brand new car depreciates the moment you buy it. A quality secondhand car rarely does. Find a car that has a low mileage and won’t break anytime soon.

Best Purchase #3: Quality Gadgets

Let’s face it. Today, everyone is dependent on 3 essentials: technology, the internet, and a laptop. Without having these things is like living backward especially in the Stone Age. It will be difficult to get through in life without these things. You will need it for school to read through modules and get assignments done. Even after graduation, your laptop will be one of the most important assets you’ll ever have. Everyone is going digital. Most businesses are relying on technology more than ever to survive. 

It will depend on the nature of your work. Most people will need high-speed internet and a high-quality laptop to get any job done. Make sure all the specifications are quite high. So that its performance is at its tiptop shape and running smoothly. Install the important software that will help you become more efficient. If necessary, make upgrades. Again, you don’t need to spend all your money getting the latest MacBook. Get the one that fits your budget. Most importantly, it gets the job done in the fastest and most efficient way possible. 

Best Purchase #4: Invest in a Roth IRA

In your 20s, you may or may not have come across something called a Roth IRA. It’s an individual retirement account. All the money you make in this account becomes tax-free at the age of 59 and a half years old. Think of it as a bank account where you put a part of your income to. Anything you put in this account is completely tax-free. For someone in their 20s, compound interest will help you out in this one. Allot a workable amount of money to put in your Roth IRA without thinking too much about it. Above all, be consistent in what you buy and hold for an amount of time (like 30 to 40 years).

Best Purchase #5: Real Estate Investments

One of the best investments that you can make in your 20s is real estate. Its value always increases especially if it’s in the right location. Don’t think about buying the most expensive and most luxurious house on the block. Rather, see it as an investment. You can start scanning for foreclosed properties and get some real deals from there. You will reap benefits if you use it as a rental property. You could be earning extra income on top of what you’re currently making. When you receive that monthly rental, it means that you didn’t have to work hard for it. If that didn’t make an impact, think about making more property purchases later on!

Another best investment you can make is to buy a 2-4 unit property. By doing so, you can live in one unit while having the other units rented out. In that way, it will save you a lot of money when it comes to housing. It will almost seem as if you are living in your place for free. It is all thanks to the flowing passive rental income that you can rely on every month. It will be one of the most rewarding purchases that you will ever make in your entire lifetime.

“You have to be prepared to give creative work 150%. I hear a lot of young people talking about life/work balance, which I think is great when you’re in your 30s. If you’re in your 20s and already talking about that, I don’t think you will achieve your goals. If you want to build a powerful career and make an impact, then you have to be prepared to put in blood, sweat, and tears.” Ellen Lupton

After going through this list of best purchases to make in your 20s, what are you going to do about it? Of course, we don’t expect you to do them right at this moment and follow them in order. At least now, you have a better understanding. You know why it’s important to make those purchases as early as now. It will teach you where to make the right investments. This is better than throwing away your hard-earned money. It starts with researching and exploring your options. At least with this article, you have a good idea of where to start. When you’ve done your research, you can already start formulating your goals. See to it that it works out only for you and not other people. Otherwise, you’d get lost along the way. There is no right or wrong formula so it’s up to you.

Think about making the right investments now especially if you are in your 20s. These are very minimal sacrifices and adjustments that will pay off in the end. By spending money on the essentials will leave you more room to save. By saving money, you will put them to good use. Secure them by putting money into well-researched and well-planned investments. Later on, there will be a greater chance that you will be more secured. You can afford that lifestyle you’ve always dreamed of. If that’s where your true happiness lies, don’t be afraid to go for it. Looking back, you will be happy why you did it in the first place. Wishing you the best of luck in all your future endeavors!

“Your vision will become clear only when you can look into your own heart. Who looks outside, dreams; who looks inside, awakes.” – Carl Jung

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How to Gain Financial Independence in 4 Easy Steps

Who doesn’t want to achieve financial freedom? Everyone does! We know for a fact that many of us want to retire as early as possible. Some of us want to achieve success early in this lifetime. We don’t want to have an 8-5 job until the golden age of retirement. Do we have to wait until we’re age 60 to enjoy our money in savings? It’s something that we don’t want. That was the dream 20 or 30 years ago for the generations before us. This was especially true for the baby boomers who have their reasons. But right now, our generation doesn’t see it as fit anymore. We want to work smart, make our money work for us, and live in the moment. In other words, we don’t want to spend our lives working forever! Who’s with us when we say we want to enjoy life? 

A huge mistake that many of us make is to work hard our entire life for money and not require money to work for us in return.” – Daniel Willey

Can you imagine if this concept was taught early in school? Or how important it was to have a frugal lifestyle? Many of us would’ve achieved financial independence as early as possible. If we were equipped with financial knowledge, it would steer us away from any heavy debt. Wouldn’t that be great? Saying ‘I want to live frugally’ and ‘I want to achieve financial independence’ is easy to say or write down in words. In reality, it’s one of those things that’s hard to apply. Believe it or not, these two go hand in hand with one another. The faster you learn about this, the faster you’ll achieve that financial independence. That’s why we’re here to help you out get started on the road to financial freedom. 

“Wealth is the ability to fully experience life.” – Henry David Thoreau

Being independent can open more doors for you. It gives you stability and fewer migraines to deal with. Having that independence will improve your entire well-being. It will lead you to live the lifestyle that you want without having to make big sacrifices. Like everything else, it can be achieved by taking baby steps. If you’re ready to get started, here are 4 easy steps if you want to achieve financial independence now: 

1. Start Saving

First, it would be a good idea to check on how long it will take you to achieve that. If you aim to retire early, then that would mean you would have to start as early as now. Today, you can start living below your means. Many of us realize that we are living from paycheck to paycheck. We are spending on things that we don’t need. You won’t reach your goals if you keep on spending 100% of your income. Everyone will tell you it’s easy to get rich. It all boils down to that the amount you are saving must be greater than the amount you are spending. Try to calculate your income and expenses monthly. It will give you an idea of how much you’re saving and spending. The reality is the more you save, the faster you’ll be able to retire. Wouldn’t that be great for everyone? Again, having a frugal lifestyle will help. It is the easiest way to reach your goal of becoming independent. It will teach you to live on the essentials and cut back or throw out on unnecessary spending. If you don’t, start today and make it a habit. This means you don’t need to spend on lavish things you don’t need or use. The main reason behind saving is to invest.

“If you’re saving, you’re succeeding.” – Steve Burkholder

2. Cut Back on Spending

The perfect dream would consist of having an unlimited income. This would mean we will be able to buy whatever we want. The reality is that our expenses keep us from saving money. Many of us fall into a bad habit of spending 100% of our income. Others tend to overspend on things that they don’t need. Is it necessary to buy everything so that we can show it off to others? This shouldn’t be a priority. Having a credit card is tempting to spend on lavish things that you don’t need. If you keep up this poor habit, it will keep you away from achieving true financial independence. But hey, we’re all here to learn that. Here are some of the things we should consider cutting back when it comes to these income killers: 

Income Killer #1: Housing

In general, housing eats away 20-30% of your income. It will depend on which area you’re living in. If you think 20-30% of your income has to go to housing, it doesn’t have to be that way. What you can do is save 10-20% of your income until you can pay for the downpayment. It would be smart to buy a property like a multi-family home like a duplex or triplex. That way, you can live in one and have the other units rented out. This action will reduce the costs. When it is done right, it will cover the entire ownership cost. You’ll be living in your own home for free until it is fully paid for. Once it has been paid, the next step is having that rental income. It will act as passive income and it will be perfect if you plan to invest later on. By that time, you’ll have extra money to buy other properties as well but of course, that decision is up to you.

If you don’t have the downpayment yet, that’s okay too. You can start by renting a house then rent out the other rooms of the house to cover the cost. Another great idea is that you can live with roommates to cut back on rent. Either doing any of these things will cut back on your housing expense. This means you’ll have more money to save, right?

Income Killer #2: Car

You don’t have to sacrifice your entire lifestyle to accommodate your needs. You can still have the same lifestyle but. It’s about cutting back on certain things. Another item that kills your income is the car. Of course, it’s important to get around when you need to or when you need to travel to work. If you haven’t purchased your car yet, consider getting a quality second-hand car. Think twice about getting one at full price. Consider getting a Toyota or a Honda. The value of a 5 to 8-year-old Toyota or Honda rarely depreciates. It doesn’t seem reasonable to spend a fortune on a brand new car. If you still want to get the car of your dreams, you can always sell it later on if you need to. But for now, it will cut down on car costs.

Income Killer #3: Entertainment

Most of you have a social life, right? Again, you don’t need to sacrifice your lifestyle or miss out on experiences. It doesn’t mean you have to seclude yourself from the rest of the world. You can still have fun but you don’t need to spend a fortune when you’re out. Be conscious about the amount you’re spending or keep to a certain limit. An example of this instead of spending X amount on individual drinks at the bar, why not buy an entire bottle? Or do some pre-drinking before at someone’s place so that you are not tempted to spend a lot when you’re outside.

Income Killer #4: Food

Many of us love to eat in a restaurant, right? Who doesn’t? Yet, it doesn’t reasonable if you’re eating breakfast, lunch, and dinner outside all the time. If you calculate the total, most of your income will be spent on food. Don’t spend a ridiculous amount of money on food deliveries. You’ll save a great deal if you prepare food at home and bring it to the office. If you’re going out for dinner with friends, you can eat something to make you somewhat full before you go out. You can do that or order an appetizer instead of an entree. Again, you’ll have the same experience for a fraction of the cost!

Income Killer #5: Travel

A lot of us share the same passion for traveling. Who doesn’t enjoy exploring new places once in a while, right? Again, you don’t have to spend a fortune. You can start maximizing your credit card right now. Sign up for one that gives you the most benefits. Each time you use your credit card gives you reward points. When you have enough, you can redeem them for free travel. It will encourage you to use your credit card. It’s okay as long as you pay it in full when the billing statement comes to load up on reward points. Be mindful not to overspend.

Income Killer #6: Clothing

Everyone wants to look good when they’re out. Yet, think about the amount you’re spending on clothes. No one can tell the exact amount you spent on clothes. If you aren’t bothered by that, start buying clothes on sales or clearances. Opt for classic looks as they never go out of style. If you keep following the trend, it will be the fastest way to spend your income. If you buy classic clothes, no one will also know how long they’ve been in your closet. Sticking to the latest trends will make you a slave to fashion. Don’t buy new clothes or things because you can. You should spend money that matters most to you. If gaining financial freedom means most to you, that should be your main focus.

All these expenses eat away a big chunk of our income. That’s why it’s important to stick to a budget. Keeping this habit is a healthy way to keep your spending in check. Bonus points go to anyone who can underspend. The less you spend, the more you save! 

“Work harder on yourself than you do on your job.” – Steve Jobs

3. Avoid High-Interest Debt

Locking yourself to high-interest debt is a big no-no. It will set you back years or decades from achieving financial independence. No one wants this to happen. If you must, don’t settle for anything except low-interest and fixed-rate mortgages. If we cannot avoid using a credit card, the most important rule is to never carry a credit card balance. Every billing statement that you receive should be paid in full. Otherwise, we’ll have to deal with the extra interest that comes along with it if it’s not paid in full. In other words, don’t finance anything that you cannot afford. If you find yourself in one of the following, don’t freak out. Find ways to pay it off quickly and you’ll be back on your journey to financial freedom.

“The goal isn’t more money. The goal is living life on your terms.” – Chris Brogan

4. Start Investing

Now that you’ve managed to save your income by spending fewer on expenses, you can start investing. First, start contributing to tax-advantaged accounts and invest consistently. As for the market forecast, don’t wait for the “right moment”. You can start buying stocks at their lowest and see things from there. Invest in a low-fee index fund. While keeping these things in mind, sit back, relax and leave it up to the market. If you have no idea what you’re doing, consider consulting a financial advisor or planner to help you out. Stay consistent in what you do. When you are financially independent, your portfolio value is 25x annual expenses. It is easy to calculate this. If you are spending X amount per year, just multiply it by 25. That’s the amount wherein you are considered financially independent.

“Financial freedom is available to those who learn about it and work for it.” – Robert Kiyosaki

As you see, there is no magic involved. This article teaches you to have a more practical approach to life. Changing the way you think today will inspire and influence tomorrow’s actions. It all boils down to you and your saving habits. Be consistent when it comes to two things – spending and saving. Don’t go overboard when it comes to spending as it will become your downfall. Everyone has different success stories. Work out something that only works out for you. Please don’t compare yourself with billionaires out there. They have different and unique approaches. Keep in mind they all had to go through this to achieve their wealth today. Most importantly, realize what’s the most important thing for you. Then, start cutting back on unnecessary things. Save money by cutting back on expenses so that you can invest and retire early. 

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7 Useful Skills To Survive in the Entrepreneurial World

In the present times, it’s so easy to get lost in the world of distractions. There is a lot of digital noise everywhere. This is rather difficult especially if we have a distinct goal or vision in mind. Let’s face it, there’s no perfect equation that will bring us there. We have to rely on our personal knowledge and experiences to get to the destination. We can’t rely on other people to work their magic for our dreams to appear right in front of us when we want to. No, it doesn’t work that way. Instead, we have to be responsible for our thoughts and actions. Somehow, we have to take the initiative and discipline to endure through it all. That moment starts right now. Thanks to us, reading this listicle will point you in the right direction. These are 7 useful skills you’ll be needing to survive in the entrepreneurial world.
 

1. Be Confident and Speak Up

 
There is no easy way to say this. But, one of the most important skills you can ever pick up in this lifetime is to build up your confidence. Trust us when we say this. That’s because you need someone to tell you to believe in yourself. You will need this to convince others into believing your business or startup. We’re not saying that you have to become a natural extrovert in that sense. Being confident becomes natural once you are comfortable in your skin. Your abilities will follow as well. Developing and having power will get you to your ultimate goal or vision. If you want to go after what you want, you have to keep the fire burning within. This means you can’t obsess with or be caught up with the tiniest details. You can’t go out there copying business strategies that may have worked with others. You have to pave your route to success. You will be able to tell apart people who have a lot of confidence. Confident people view problems as opportunities. With these opportunities, they try to find the best solutions to any problem. Developing your confidence will become a habit. As you can do this, you will be able to move forward and achieve more in life.
 
By being confident and comfortable in your skin, speak up by voicing out your ideas. As you do this, you are making a statement and getting your ideas across. For many, it’s a common fear to speak in public. Speak slow and clear in a concise manner. Overcome this fear by looking at the person you are talking to right in the eye. Don’t let your eyes wander somewhere else if you’re talking to someone. If you’re talking to a sea of people, focus your attention and speak to different sections of the crowd. As you do this more often, you’ll become more comfortable with public speaking. Of course, don’t forget to speak at an appropriate volume. Observe popular vloggers on how they engage with their audience. They look straight into the camera. It’s as if they are communicating with their viewer. They can make the viewer’s presence known.

2. Be Honest

 
One of the biggest mistakes you can make is to lie to yourself. You can make all kinds of excuses but pretending to be something that you’re not is not worth it. Be true to yourself. Few people can do this because they tend to lie or believe in lies that will make them feel better. It will mean a lot if you can recognize your strengths and admit your weaknesses. Doing it this way means there’s always time and ways to improve weaknesses. That way, your weaknesses will transform becoming your strengths! If you are honest to yourself as well to others, this is a real big step to making it big. Let’s face it, no one should know your startup better than yourself
 

3. Listen & Have Empathy

 
If you look up to some of the greatest leaders, you’ll learn that they share this common trait. That is they have mastered the skill of observing and listening. The next time you are in a board meeting, practice being the last to speak. Before you speak out your opinions first, it’s better to wait. Hear from everyone else first before you allow them to hear yours. This practice allows others to be heard and that their opinions matter. By speaking last, you have the benefit of hearing from each person in the room before you spill your opinion. Don’t be afraid to take it all in first. Then, you can start asking questions. You will understand why they have that opinion and where they’re speaking and coming from.
 
Another quality that you can develop is empathy. This is recognizing the presence of other people’s emotions other than your own. If you put yourself in the shoes of others, you should be able to see it from their point of view. The thing about emotions is that they are fleeting so when they come around, don’t be afraid to feel them. Suppressing emotions won’t help. It makes us weak whether it’s physical or emotional. Having empathy doesn’t make us weak. It is the very essence that makes us human and it powers the best in us.
 

4. Consistency & Time Management

 
You may have heard this phrase plenty of times but it’s true. Success is not a destination but it’s a journey. Everything that has happened in your life happens for a reason. It could be positive or negative. Yet, never let your failures determine who you are. Stop mourning over failures because it’s a waste of time. If you have achieved success right now, you will know it’s one rollercoaster ride – it’s full of ups and downs. Success cannot be achieved overnight. Be consistent in what you do and success will unfold. Continue to work smart, persevere, and see what the results will be.
 
In this age and time, there are way too many distractions. We can agree it’s too much chaos. We are bombarded with too many elements that prevent us from doing what we want. This is the busiest yet most ineffective generation. It’s because we spend too much time dilly-dallying on things that don’t have value. 80% of the time, we are surrounded by distractions. 20% of the time is spent on what we are passionate about. Changing this habit will turn your life around. Ask yourself, ‘Are you effective today? What have I done to bring myself closer to my vision? What’s preventing you from being your best self?’. Time is irreplaceable so value your time by managing it well. Use your time by putting it into something that will bring you closer to your goal.
 

5. Stop Whining

 
Have you found yourself saying, “I can’t do this!” or “There goes the traffic!”? If you say something like this anytime of the day, you’re already dealing with too much negativity. Whining won’t get you anywhere. It’s a waste of time and energy. Stop complaining, whining, or criticizing. Don’t complain about what’s happening around you. Also, don’t blame others for your misfortunes. If you only complain about what wasn’t done or why is this happening to you, then do something about it! The beauty of it all is that you can start today.
 

6. Live in the Moment

 
Sometimes, we forget to live in the moment. Living in the past will only make you feel depressed. It’s because you are reliving those moments and likely, they won’t happen again. Living in the future will make you feel anxious. That’s because you’re anticipating things that haven’t happened to you yet. The only thing that you have control of is the present. Living in the moment or being present is where the real action is. You have more control right now than before. Once you realize this, you will become happy and comfortable. That’s because the present will determine the future. 40% of personal happiness levels are determined by genetics. It is something you can’t control. You are in control of 60% of what’s happening to you! That’s right! Happiness is a choice. In reality, there’s a connection between living in the moment and happiness. It doesn’t matter what happened to you in the past. What is more important is what you choose to do about it.
 
Happiness is a mindset and it all boils down to your thoughts, attitude, and thinking. People can go through the most horrific experiences. Yet, they emerge stronger than ever. Even if you cannot control what you are feeling at the moment, you are 100% in control of your thinking. Control the way you think. You will be able to control the way you feel because your thoughts determine your feelings. Sharpen your thinking skills of being present and you will have more control. You will gain a sense of power over your life. This particular skill needs to be repeated many times over. Catch yourself being distracted and being worried or drifting in and out of the past or future. Go and refocus your attention on the present!
 
Try to appreciate and savor the moment you are feeling and thinking right now. A great example of this is eating. When you sit down and eat, you are savoring and absorbing all those wonderful flavors. It makes you slow down and savor the food you are eating. You appreciate the company you’re with and how you feel about them. These are the special moments you can’t miss. Take it a step further by saying “Hey, this food tastes delicious!” or “I’m glad we’re sharing this beautiful meal”. Everyone involved deserves to be acknowledged. Once you are able to, you’ll feel a sense of gratitude. You’re expanding that internal happiness right at the moment. It’s something that can’t be replaced with anything else. Keep practicing this useful skill. The moment you catch yourself thinking of the past or future. Think of savoring something at present and acknowledge gratitude. Take control of your life by seeking the information that you need. Better yet, collect the information that you need to be a step closer to your vision.
 

7. Get Enough Sleep

 
Our parents were right ever since we were children. They would tell us to go to bed early. Sleep early and you wake up feeling better. Get proper rest to reenergize your body. It will do wonders for your mental and physical state. As you grow older, you should keep prioritizing sleep. Say no to things that take away time that can be spent resting. Lack of sleep and being tired will keep you from doing things that you want to do. Nobody wants to work with someone who woke up on the wrong side of the bed.
 
These are the most essential and practical skills you’ll ever need in this lifetime. One day you’ll master these qualities. There no stopping you from becoming the best version you can be. Be you, believe in yourself and your goals. Trust your gut and everything else will follow. The only thing standing between you and your vision is one incredible journey. This journey you are about to encounter will be a beautiful one. Expect small bumps (good or bad, that’s all normal) along the way. This is all part of the process. Believe us when we say that you can do it and you’ll get there no matter how long it will take. Now that you’ve read these important skills that can be applied anywhere, what are you going to do about it today? Whatever it is, we hope that your life will change for the best. We wish you the very best of luck in all your future endeavors!
 

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