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Home Business Start-Up – Savings or Credit?

Savings or Credit

Savings or Credit

You may be playing a losing game if you are using credit to fund your business start-up, unless you are prepared to pay your entire balance each month. The maze begins because when you have cash you need to pay your credit card and other bills. If you need cash even for necessities, you are forced to use your credit, aka ‘funny money’. or Debt

It may just seem natural to use your card for business expenses, particularly online where you may be required to use a credit card in order to make a purchase. If you start planning to start a business by creating a savings account that will be for business operating expenses, it makes much more sense to your bottom line. If you have saved sufficient funds in your savings account to make a purchase, then use the credit card, but prepare to pay the entire balance from your savings as soon as you can (try not to accrue interest) and no need to since you already have the money to pay.

Ask yourself if you have any gambling addictions or compulsive spending habits. Please be honest with yourself because if you do, then you have to be very disciplined in your spending, more so than others who do not feel compulsive about spending money. You should definitely get serious about this before you go bankrupt. Your situation can get out of control if you do not have enough income to cover your expenses. Never speculate, which even with a fancy name is still gambling.

If you are using credit now, do some simple math with examples. Do some calculations that prove how interest due on the money you borrow from your credit card adds up quickly and compounds. It is costing you a lot of money to use credit instead of cash (savings). Never spend more than you have immediate custody of, no matter what the excuse, including investing in your business. Only use your credit line for emergencies, other than what you can pay each month to erase any balance, as defined above.

Preparing for the unexpected should be done before it happens. You never know when the unexpected will happen. The idea to be prepared ‘just in case’ is a good, safe one. We hope nothing catastrophic ever happens, and if it doesn’t you have a windfall. We need both savings for emergencies and a business operating budget. You can probably have two free savings accounts with minimum balances.

If necessary part of your business plan should start with how much money you have to invest each month to fund the start-up. You should start putting away money into a savings account if you have a job, each payday. Even $5 will add up believe it or not if you are consistent and don’t use it.

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Make the Leap to Home Business Success

If you are going to build a successful home business, you need 3 “intangibles.” These are things that must come from WITHIN you.

===> Intangible 1 <===

First, you must have a strong WHY.

Why must you make a home business work? What’s driving you? What is it that you CAN’T have in your life anymore and/or what is it that you absolutely MUST HAVE now?

For me, I couldn’t stand working 12+ hours a day anymore and missing the experience of my children growing up. I also absolutely HAD TO HAVE the freedom of being able to control my life and finances through a little box that I could carry with me anywhere in the world and not be tied to anyone’s time pressures or demands but my own. That was my carrot and my stick. I felt a great pain deep in my gut of missing out on my children’s lives and the incredible freedom that succeeding in this business would provide for me. I found my why. You MUST find yours.

===> Intangible 2 <===

You must BELIEVE that it is possible.

If you don’t believe that it’s POSSIBLE for you to succeed in a home business or make your living on the Internet, you won’t. It’s that simple.

For me, figuring out that it was possible was just a matter of realizing that many other people were ALREADY making great money with a home business online. If they could do it, I could too. It would just be a matter of figuring out what those people were doing and then adapting it to my situation.

There is no shortage of undeniable PROOF that people (millions of them) are making money online in many different ways. Just get online and do some research and you’ll find countless testimonials and stories of REAL PEOPLE making real money on the Internet. Or head to your local bookstore and you’ll find the same documented evidence of this fact. Truth is, it’s getting easier and easier to start and succeed in a home based business. This is primarily because of the Internet and affiliate marketing.

I’ve always said that “affiliate marketing” is the job of the future. In the “old” days, you had to go to a potential employer, apply for the position and hope for the best. Now you can simply go to any company you want, fill out their affiliate application and start work immediately. Affiliates are the new working class. Believe me, making money with affiliate programs or making your living on the Internet is WAY MORE than possible. It is pretty much (or will be soon enough) unavoidable now. Affiliate marketing is the “job” of the future that’s here TODAY.

===> Intangible 3 <===

You must be willing to MAKE THE LEAP.

Ready, FIRE, then aim… This is the operating philosophy you MUST adopt to succeed with an Internet home business.

That’s backwards for most people who like to aim before they fire. The fact is the Internet is a moving target… The only thing constant about it is change. You need to stop analyzing the game and simply jump into it. You can’t learn from the outside… You have to be IN THE RING to truly understand it.

The lesson here is that you will never really be READY to start a home based business. You simply have to start one. This is what I call “Making the Leap.”

The good news is that the cost of failure on the Internet is very small. In the “brick and mortar” world you need to evaluate things very carefully before you decide to open up a business. It’s almost always necessary to invest thousands of dollars to get an offline business off the ground. However, on the Internet you can often start a successful business for less than $100. In fact, Plug-In Profit Site is a really good example of this.

You simply need get IN THE GAME… Each moment that you stay “out there,” you’re wasting valuable time that you could be learning and skills necessary to become a successful affiliate marketer. In fact, if you’re not in the game yet, you’re ALREADY behind the times. Come on… You can do it! Make the leap to becoming a successful home based business owner today!

About the author: Stone Evans was a washed up restaurant worker desperately searching for a way to save his family when he discovered the internet and affiliate marketing… 24 months later he finally cracked the code and started earning over $10,000.00 per month… Now the same system that saved him is available to you here!

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How To Monetize Your Blog

How to Monetize Your Blog

How to Monetize Your Blog

Internet is becoming one of the most happening and a lucrative place for earning money and to get many income opportunities. Whether a person has an established online income opportunity or a person is just a beginner in the field, using many techniques actually help in optimizing the online business. First important step is to monetize the business. This can be done by signing with the major Internet advertisers to receive ads on the personal business website.

Google Adsense is the well-known and popular advertiser online, but if a person does proper research then they can easily find some more companies that do Internet advertising. Another great method is the affiliate marketing. In this method, a person can make residual income on every sale they make on someone’s product.

Monetizing a website actually helps in earning good income and it even works with blogs. Next step is getting own advertisement for the business. If a business is already making good amount, then own advertisement is the best option. One can advertise on their website for space. This way a person can set their own rates for advertising unlike the big companies that charge too much for ads and thus the business owners take full control of the ads in their website. This is a win-win situation for placing ads of other services in the website.

Next step is to branch out, that is if a person already has own website, then they can probably start their own blog. If a person already has a blog, then it is good to start another blog. Not only a person can add advertisements in each site to monetize it, but also they can even add links in the separate sites and finally all links can be linked together in the business website. Another great advantage is that the backlinking as the quality links help to increase the search engine ranks. The content should be informative, fresh, and new. The articles should be reviewed and new contents should be added every now and then. Adding RSS feed to the website also helps a lot to increase visitors.

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