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Diversify Your Income April 28, 2012

Posted by viper42 in Business.
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3 comments

Well its been a while since my last post. I thought I might touch on a topic that I know is really on everyone’s mind…..money. How can we make more to cover expenses in an ever more expensive society? Im’ 4 years into a refinance of a mortgage and I’m paying more than when I refinanced due to tax hikes. So trust me…I’m in that boat.

So what is the most common income attained that everyone goes for? LINEAR. Everyone goes out, gets a job where so long as you are present, you get paid…LINEAR. However, with a poor economy where there are pay freezes, lay-offs, the rules get changed and there are less…LINEAR options. Here is where the cliche think out the box comes in. What many have done is seek more options in PASSIVE and RESIDUAL income. This is where the diversification comes in.

If you continue to isolate your income to something that requires your PRESENCE to get get paid, think of what would stop your money…illness, lay offs, going out of business, becoming obsolete and I’m sure there are other factors. So the minute your gone, so is your money.

Where possible while times are descent and not falling apart you need to try investing where possible. Try stocks, bonds etc…PASSIVE INCOME….In other words the ability to make money without doing something for it. If you develop some sort of portfolio you have some leverage and assets to fall back on or liquidate. Of course, in light of the Wall Street collapse, this is not as popular as it once was but should still be reviewed and used.

The next best option is to CREATE a form of Residual Income for yourself….Income that continues to come in after doing something once for it. Honestly, this is really in my opinion the best possible option. So what are some examples? Well, if you are reading this post…this is one way. I dont consider myself an expert blogger. However, there are those who really enjoy writing. Turn your passion into money. There are many who do. They learn how to use affiliate marketing to make money blogging. This day in age, as I’ve mentioned ion other posts, the social media age has empowered individuals. So its makes Blogging a very viable business option.

The one option that this author put (http://financialhighway.com/diversifying-your-income-alternative-income-lessons-from-recession/) that for some is not so popular is Direct Sales or MLM. Yes, its true, it really is an option. When researched properly, this avenue of business affords people the option of getting into a business at an extremely low cost. Where many people have issues with it is the reputation the business has, largely over past transgressions and unscrupulous individuals. That being said though, the model has seen over the past years astounding growth and success across the country. My advice here…DONT expect instant money because you are already looking at it wrong and may lead yourself to quitting. When done consistently and patiently, this avenue can lead to income. Try not to be swayed by the instant comments people come out with….Its a scam, a Pyramid, Not a real business. Many who say it have quit, or have little or know REAL knowledge about the model.

Finally teaching or getting into rental properties is an option also. With the real estate bust here in the U.S, I know property is something that seems taboo. However, never lose sight of one thing…we all need a place to live. If you can educate yourself well enough, learn how to get capital for your purchases, real estate, long term, can be a viable residual option. Just be sure to insulate yourself well because non-paying tenants will be in your future at some point.

Some things appeal more to people than others. But in a day where many are looking for solutions to long standing issues, breaking away from just the LINEAR thinking is almost vital. There is nothing wrong with having a job. At the same time, its certainly great to have money coming from more than one source.

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How can Social Media Help my Business? April 14, 2012

Posted by viper42 in Business.
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2 comments

By this point if you have not at least heard of one of the top forms of social media, I would say you are living under one giant rock. With the advent of Facebook, Twitter and the many others out there, these platforms have literally redefined business and the ability of those on “Main Street” to influence the world even more.

In an article written in Home Business Magazine, there was a great interview with Anil Sabharwal who is the senior product manager for Google Apps. He discussed how to properly leverage social media to start having some measure of success in your venture.

The biggest point he drove home was to stay involved in your respective communities. That means if you join a forum, get involved. Interact with stories, tell your own stories (no one want to hear from corporate giants anymore, they want to hear from people). The key is is not to just see your presence there as what you can get out of it. The people there can tell and dont gravitate to someone who is…just there. If you can approach the group with the attitude of sharing and reciprocation, then you will get noticed.

If you are going to be writing, as I am now, make sure you are doing it and not outsourcing it. It comes across more genuine and readers want to get a feel for a person. That was Anil’s second point.

One point that I think is very important is developing an identity for yourself online. If you are here to conduct business in a particular area, dont hide it. Tell others the WHY of you being here. For instance. My facebook profile is straight forward…I am here to interact with others and share what I do to help the people of North America find health and financial solutions. So my posts and my discussions are geared to this. But in order for your activity to be meaningful, you must stay consistent.

I think the biggest reason that Social Media is going to help your business is simply because of its potential viewership. You have millions on Facebook, Twitter, LinkedIn etc. If you can manage to stay involved, be up front about who you are and what you bring to the table, you can have massive exposure to people which even with the best networking skills on the planet, you could never duplicate just on your own through traditional means.

In my attempt to keep things personal and real, I invite you to share your thoughts on my blog and what I post. I consider this a learning experience but more than that, this is a great venue to share ideas. Thanks and I hope the post was helpful.