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How Home-Based Business
Entrepreneurs Think
Too many people are trying to start their home businesses
with an ordinary employee's way of thinking. This has
become
a common reason why not long after sitting down and
giving
it a fair look into even the most lucrative business
opportunity they bump into, they put it away and decide
not
to take any chances.
What has happened here is that the most lucrative
business
opportunity has been looked into by an ordinary
9-to-5-worker, who appears NOT to be business-minded.
If you are like most people, you have probably considered
starting your own business yourself. But above all, you
have
to understand that to make into a successful Business
Entrepreneur, one has to change their way of thinking
first.
1. DO NOT EXPECT FAST CASH!
Besides gambling or winning a lottery, working as an
employee is the only way to get 'fast' cash... 'fast' as
in
'in-25-working-days'. This kind of cash is always certain
to
come in as long as you work from 9 to 5 for your boss.
But
as you probably already know it, as soon as you stop, the
money stops. (See FinancialFreedomAwaits.com).
True entrepreneurship-minded people know that it takes
time
to develop an 'attack plan' for their businesses. It
takes
time to build a strong and solid business, which delivers
ongoing income through many years.
True Business Entrepreneurs hold on to this truth, "We
reap
what we sow, but the harvest is never in the same season
as
the planting."
Change your way of thinking:
DO NOT EXPECT FAST CASH!
2. AIM FOR JOB SECURITY OR FINANCIAL SECURITY?
Employees would rather have job-security. Why? Simple:
the
income is secure. As long as you loyally work from 9 to
5,
you will for certain get your cash! The problem with a
typical job is that when you stop, the money stops.
The stark fact is: one day you might get sick and won't
be
able to go back to work. Sooner or later you will retire.
Companies get broke and have to release their employees.
No
matter what the situation, as soon as you stop working,
the
money will stop coming.
So much for secure income...!
A job with secure income is necessary for those who has
not
set up their own business yet. True. But a true Business
Entrepreneur won't settle merely for job-security. He
aims
for much more, such as financial security. No, he won't
have
fast cash. And no, he won't have any secure income yet -
at
least not in the beginning. And often, he won't have any
income at all from his new business for the first few
months.
Business entrepreneurs think of the big picture. What
they
do is building assets from which his money will come in
month after month, year after year from work he is doing
now! The money will not come now. It might not even come
for
the next few months. But as soon as his business is up
and
running, it will keep generating income for him, even
when
he chooses to stop working!
And THAT is financial security!
Change your way of thinking:
THINK OF THE BIG PICTURE - AIM FOR FINANCIAL SECURITY!
3. GENERATE PASSIVE INCOME
Financial freedom is not measured by how much money you
earn
by working, but how much money comes in with only little
or
no work at all. This later kind of income is called
passive
income. This fact has been known for decades by real
wealthy
people.
Successful and wealthy entrepreneurs do only little work
and
sometimes it is even possible to do the work only once
but
still generate recurring income on it. Imagine a song or
a
book writer. They write their songs or books once
but get
paid forever on it. This do-it-once-get-paid-forever type
of
income is called residual income.
Most people who have attained financial freedom have
other
people working to generate income for them. Earning money
by
other people's effort is called leveraged income.
As hard as it may seem, to create leveraged income, you
need
to have your own business where other people work to
generate income for you. Any business. Whether it is a
traditional business, franchise, small business, internet
based or home based.
Employees work to generate secure income. Business
Entrepreneurs work to build assets with income streams
which
generates for him ongoing passive income (either residual
or
leverage income or both). In other words Business
Entrepreneurs work to build himself -what I would call- a
'money-machine' which is designed to generate ongoing
income.
Whereas the Employee can not stop working because
otherwise
he will lose his income, the Business Entrepreneur will
have
money coming in constantly, even when he chooses not to
work, simply because it is his assets that generate
residual
and leverage income for him.
Change your way of thinking:
TAP INTO PASSIVE INCOME
BY GENERATING RESIDUAL & LEVERAGED INCOME!
4. INVESTMENTS
It is common for people who seek job security to hesitate
to
invest. The reason is understandable: for some of us the
risks of investing in a business are just too much to
handle.
A true Business Entrepreneur understands that in order to
build -what I would
call- a 'money-machine', investments
are necessary. There is just no such things as businesses
without investments. He knows that it takes time and
effort
to develop a successful business. But he also knows that
investing money is just as important!
Sometimes it takes the Business Entrepreneur a year or
two
before he can finally reap the big success. Sometimes even
a
bit more. It takes a couple of years of investing time,
effort and money. But this is not too hard for him to
handle. A true Entrepreneur thinks long term. He knows
that
in the end, his working and money investing will finally
pay
off!
A Home Based Business Entrepreneur would only have to
invest
just 5-10 hours a week for a couple of years and he would
only have to make low budget investments into his home
based
business. And at the end of the time of working and
investing, our Entrepreneur would have turned it into a
significant amount of residual income stream!
I'm not talking about money that comes in today and is
gone
tomorrow but income that keeps coming in month after
month,
year after year... money that -as Gery Carson has put it-
"when you've left this planet continues to provide for
your
spouse, children, or grandchildren."
By then you would think that all your valuable time and
money you have spent would be worth it.
Commonly an ordinary employee, who fears too much to
invest,
works hard to receive his pay check every month. Most
likely
he even retires broke. Before he knows it, he leaves the
planet with nothing to leave for his family.
A true Business Entrepreneur is prepared to invest. He
knows
by investing in his business he is building assets that
would generate passive and residual income for him
throughout his years on this planet and the years of his
grandchildren.
Change your way of thinking:
THINK LONG TERM: START INVESTING!
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Dinar P. Wiria-Atmadja is the author of
"How Home-Based Business Entrepreneurs Think"
and is a home-business entrepreneur,
living in Jakarta - INDONESIA,
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