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Diversify Your Income April 28, 2012

Posted by viper42 in Business.
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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.

The Internet-Road to Financial Security May 27, 2009

Posted by viper42 in Business.
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This is perhaps one of harshest economic downturns the world has ever seen.  Many of the largest institutions that were though untouchable before are in trouble or out of business.  News of massive bonuses, Ponzi schemes, poor leadership from a president, a war on 2 fronts…this has all shifted consumer sentiment to a new direction.  You could describe what has been happening for a few years now as a paradigm shift in how the Unites States, the world, and people operate.  I think we are seeing business as a whole becoming democratized.  Where most of thew growth and change has come from has been the Internet.  It has been the one ever evolving tool that places enormous potential and growth in the hands of individuals…specifically those looking to have a business of their own.  Don’t think so?  Look at these examples.  

YouTube…the ability to place recorded video on a platform that ANYONE can view.  Why should that matter right?  Well, the public and consumers, increasingly want to know, see and to a degree trust who they deal with.  Well, if you recorded your own promotional videos, posted commentaries, showed how to videos just from what you already know, could that not catapult a viable business?  

Facebook/MySpace etc.  Leveraging Social Network sites again allow people to know you.  You can use them as platforms to get free advertisement in a non-invasive way.  As people want to get to know you they will know your business , if you choose. Not only that, most businesses cannot survive without exposure to their products or services.  As you join groups, talk with others, connect with others, your potential to have some of those individuals seek your products or serive grows.  Here is the plus….what would you have to have paid for that?  This is actually called Inbound Marketing…allowing the consumer of a good or service to come to you instead of you hounding them (outbound marketing). 

How about this platform, Blogging?  Some of you will pass right over this post or read it.  I am expressing ideas and concepts that may be of use or interest to you.  Do you have an opportunity to contact me?  Is this more personal to you than reading a newspaper or magazine?  If I were selling a service, could this have been a great platform?  Perhaps.  

The biggest draw to the internet at this point in history is that allows individuals to potentially grow and learn a new business at there own pace, specifically in a down market.  Start up costs are typically lower.  For those willing to learn and grow, it can offer an immense source of information that can turn your financial picture around.  All that is requires is your persistence, determination and vision to goal you desire.  Here are some useful articles to look at:

http://www.time.com/time/magazine/article/0,9171,1890387-1,00.html

http://homebusinessmag.com/business-start/selecting-business/selecting-right-business-tough-economic-times

I hope this was of some help to you.