Posts

Breaking Free from the Corporate Grind: Why Starting a Home-Run Business Can Change Your Life

I’m sure you hear it alot, but what is a home-run business? And as a corporate employee, why should you start a home-run business? And how can you do it?

Basically a home-run business means choosing your own working hours and working on projects of your choosing.

  • Starting a home-run business can be a great way for corporate employees to take control of their career and financial future. Here are a few reasons why:
  • Financial independence: Starting a business allows you to be in control of your own income, rather than relying on a salary from an employer. This can lead to a greater sense of financial security and freedom.
  • Career satisfaction: Many corporate employees feel stuck in their current roles and may not see opportunities for advancement. Starting a business allows you to pursue your passions and interests, and can lead to a greater sense of fulfillment and satisfaction in your work.
  • Flexibility: A home-run business allows you to set your own schedule and work from the comfort of your own home. This can be especially beneficial for those with family or other responsibilities that make it difficult to commit to a traditional 9-to-5 schedule.
  • Innovation: As a business owner, you have the freedom to innovate and create new products or services. This can be especially rewarding for those who feel stifled by corporate bureaucracy and lack of autonomy.
  • Low startup costs: Starting a home-run business can be relatively inexpensive, especially compared to opening a brick-and-mortar store or office. This can make it a great option for those who want to start their own business but don’t have a lot of capital to invest.

This is unlike employment or your job where you have to work fixed hours and are doing work given to you – like it or not. 

You can work for yourself through the following ways;

  1. Freelancing – where you sell your skills and provide a ‘tangible’ outcome.
  2. Coaching – where you share knowledge or experiences in how to achieve a goal.
  3. Ecommerce – where you sell physical products online on Amazon or eBay for example.
  4. Affiliate marketing – where you sell other company’s products online as a referrer and earn a commission. Perfect for you if you don’t have your own product at this stage.

I firmly believe you should work for yourself for the following reasons;

#1 – High costs of living

With cost of goods and services rapidly increasing, we’re seeing that wages are not going up by the same rate unfortunately. It therefore makes it harder and harder to afford your current lifestyle – unless you have additional sources of income. This is why having your own business can provide a level of security that your job can’t. 

#2 – Uncapped income

Linked to the above, it’s so important to create multiple sources of income to secure your financial future. The best thing about starting an online business is that you can leverage existing systems and platforms, and scale up your income. That means the amount you can earn online is really up to you. £1000 a month, £10,000, £100,000 a month? There’s no limit.

#3 – Choose when you work

Sometimes life just takes priority. And this means that your work needs to take a back-step. This is why having your own business allows you to set your own hours – without having to explain to a boss or employer!

#4 – Leave a legacy

What do you want to leave for your kids or future generations? This might be skills, money or maybe you want to be known for something. I believe that you should teach your kids to become financially independent and pursue entrepreneurship where they can. Of course, being in a job is NOT a bad thing. It’s a noble pursuit. But – if you value freedom and independence, then owning a business is the best choice for you and your family.

The one thing that helped me launch my online businesses was the principle of ‘Authority Marketing’.

What is Authority Marketing?

Authority Marketing is a cutting-edge strategy enabling you to join the modern wealthy and make more money in less time, buy working smarter – not harder. It ends with you working for yourself, and not for anyone else. You can start a home-based business using the principle of authority marketing.

It’s about embracing today’s digital world by leveraging the power of online marketing systems to automate selling any product or service to any target audience anywhere in the world.

Basically…

Step 1 – Identify Profitable Niche

Step 2 – Pinpoint your Audience

Step 3 – Understand what they want

Step 4 – Create your Brand & Message

Step 5 – Launch Marketing System

Step 6 – Promote Offer and make money

Authority Marketing enables you to generate leads and sales online, 24/7, 365 days a year without ever having to chase or convince anyone – or spend your time posting all day on social media.

It even works when you’re not!

Expert affiliate marketing training for beginners

The Benefits of an Authority Marketing System?

  • Work from anywhere
  • Work when you choose
  • Answer to nobody
  • Total time freedom
  • Earn uncapped income

So, time to join the Modern Wealthy. Click here now to learn more about Authority Marketing and how it help you make the transition from frustrated employee to a more present-living Online Entrepreneur, EVEN if you don’t have your own product or niche idea at this stage.

Overall, starting a home-run business can be a great way for corporate employees to gain control of their career and financial future. It offers many benefits, such as financial independence, career satisfaction, flexibility, and the opportunity to innovate. However, it’s important to be aware of the risks and challenges involved and to make an informed decision before taking the leap.

/1 Comment/by
,

Sean’s Problem – How To Start An Online Business Around Your Corporate Job When You Have No Time!

The other day I was talking to a friend of mine Sean. And he said he was interested in starting his own online business – but the biggest thing holding him back was being so busy and lacking time.

Sean needed a way out of the corporate job but couldn’t find the time to start something online.

He is probably right in that his work, family, commute and other commitments take up most of his time in the week, and little time he has left is to unwind and relax.

But then I asked him – why did he really want to build an online business? He said the main reason was so he could finally leave his corporate job and create more time for himself and his family.

Fair enough. Sean’s ‘why’ for starting an online business was clear in his mind.

Then I told him it was exactly the same for me. I really wanted to start an online business but felt that I didn’t have time to go through the steps of building an online business. But the ironic thing is that – in order to achieve the dream of ‘time freedom’, we have to commit time now to the process.

If I can carve out 1 hour each evening to build my online business – I will be 1 step closer to my dream

What this means is – you have to sacrifice certain things in your day in order to build your business. You have to take the first step and say ‘ok i know I have limited time, but if I can carve out 1 hour each evening’ to build my online business – I will one step closer to my dream. (Not sure how – check out this article),

This is what I did when I started my online business training in February 2019. My thinking was – I really want to change my circumstances, and become a free man. In order to do this I’ll work every evening 9.30-11pm once I’ve done everything i need to do at home.

No TV.

It is a sacrifice, yes. But remember – nothing worthwhile comes easy.

So what I said to Sean was if you really, really want to change your life – then naturally you will do whatever is required to make it happen.

I then showed him the same online business training that I went through and just asked him to;

  1. Commit a time slot to his education and implementation of the skills learnt every evening, and;
  2. Follow the process taught – step by step.
  3. Reach out to me or the community if you are stuck (it happens).

So – if you find that a lack of time is holding you back from building a business, ask yourself how bad do you really want a business?

For me it was a no-brainer. Find time and commit to it 🙂

Expert affiliate marketing training for beginners
/0 Comments/by

Side Hustle Success: How to Build an Online Income While Working Full-Time

Creating an online income alongside your corporate job can be a great way to build financial security, gain skills, and achieve a better work-life balance. With the rise of the gig economy and the increasing number of remote work opportunities, it’s now easier than ever to create an additional source of income. That’s without considering the increased cost of living that we all face!

However, it’s important to remember that creating an online income takes time, effort, and dedication. Here are some strategies that can help you build a sustainable online business while working your corporate job.

  1. Freelancing: Offer your skills, such as writing, graphic design, or programming, as a freelancer on platforms like Upwork, Fiverr, or Freelancer. To be honest, these days you don’t even need to have your own skills. With the advance of AI (artificial technology), there are now more tools than ever that allow you to do things like; website creation, content creation, translating a language, copywriting, video editing, etc. It’s more more easy than ever and you can do these things at low cost. ChatGPT is great (and free) example of a hot AI tool that allows you to create content or get advise by simply requesting it! You advertise your services on freelancer platforms like Fiverr, and get the AI tools to do the hard work 🙂
  2. Online tutoring or teaching: Share your knowledge and expertise in a particular subject through online tutoring or teaching on platforms like VIPKid or iTalki.
  3. Selling products online: Start an online store and sell products on platforms like Amazon, Etsy, or Shopify.
  4. Affiliate marketing: Partner with brands and promote their products to your audience, earning a commission on sales made through your unique referral link. Affiliate marketing is a great way to earn an income around your job – especially if you don’t have your own product or service. You simply leverage an existing company’s products and go out and market that product. The company may even provide the marketing assets for you. On top of that, the company will deal with customer enquiries, refunds, fulfilment, etc, so you don’t have to! I am currently an affiliate marketer for four brands and it was my first online business while working in my 9-to-5 corporate job. When it comes to affiliate marketing, you really want to market a product you have used before and would happily recommend it to others. If you want help getting started with your own affiliate business – check out the same training that I used as a beginner.
  5. Dropshipping: Start a dropshipping business by selling products through an online store without having to hold inventory. Again, another fantastic online income source that leverages internet platforms like Amazon and its millions of customers. Before spending thousands on committing to a product – you should follow guidance on how to effectively build your ecommerce drop-shipping business.
  6. Blogging or content creation: Build an audience and monetize your blog or YouTube channel through advertising, sponsored content, or affiliate marketing. Again, ChatGPT can really help with this! But while ChatGPT (and other AI tools) can give you a start – you should definitely tailor the content to make it your own style.
  7. Podcasting: Start a podcast and monetize it through advertising, sponsorships, or affiliate marketing.
  8. Investing in stocks or cryptocurrencies: Invest your money into stocks or cryptocurrencies and earn returns through the appreciation of the value of your investments.
  9. Online surveys: Participate in online surveys and earn money for your opinions.
  10. Automated trading: This is a great strategy if you’re looking for passive income, i.e. invest once and earn returns daily/weekly. Automated trading or ‘trading bots’ will trade the markets for you automatically using a set strategy or settings that might tweak slightly. There are many in the market, but I use this one to earn me consistent daily positive returns, with a minimal investments.

By taking the time to get clear on your goals, identifying your skills and interests, creating a strategy, setting up a schedule, taking advantage of technology, outsourcing certain tasks, being consistent with your efforts, and learning from others, you can create an online income alongside your corporate job. Keep in mind that it will take time, effort, and dedication to make it happen, but the rewards can be well worth it.

Remember to also be mindful and keep the work-life balance healthy, the idea is not to burn out or neglect important aspects of your life, start small and grow gradually, review and adjust your strategies as you go and always be open to learn and evolve.

start a profitable online business today.
/0 Comments/by

Get Paid by Following These 6 Steps to Rank High on Google

I want to talk to you about SEO, providing value to your customers and making money.

Firstly, what is SEO?

SEO stands for Search Engine Optimization.

Essentially, SEO is the technique to getting your website/webpage ranking as high up as possible on Google. Ideally, you’d want to rank as one of the first 3 or 4 listings in a Google search for your topic/keyword.

What’s the advantage of getting a high ranking on Google?

Eyeballs! Ask yourself when you search for something on Google, how far do you scan down the results on the 1st page? Do you even go to page 2?

For this reason, the listings on page 1 of Google receive the most views and therefore clicks.

If your site gets thousands of views and clicks every month, you can then start monetizing your site, i.e. make money from the content on your site.

Ok, how do I rank high on Google?

You may have heard that this is a hard and long process. And this is partly true. Getting ranked ‘organically’ (i.e. without paying for it) on Google can be take time. Essentially you’re playing the long game. So this is why you should choose a topic/keyword/niche that you are passionate about, or have good knowledge of.

How do I find a niche area that is worthwhile pursuing?

If you have an idea of some types of topics/niches you wish to build a business around, then read my article here on how to use Google Trends and pinpoint what niche to focus on.

I have chosen a niche area. What next? How do I get ranked high on Google?

So you have chosen a niche area that is popular and trending upwards. Here are 6 steps to rank high in Google:

1) Understand what people are searching for relating to your niche.

a. Join Facebook groups relating to your niche area. Find out what people are asking about, or whether there is a gap in that niche area that maybe you can fill. Why? Because you want to serve a market, solve a problem and attract an audience.

b. See what questions are being asked on Google. How? Enter a phrase relating to your niche topic and then see what phrases Google suggests. Sometimes this shows as a drop-down as you enter your phrase….and sometimes the other phrases appear on the right hand side of the search results.

These phrases are what other people have been searching for.

2) Create content with intent to help and solve

This is important. Around 5 – 10yrs ago, people used to use ‘black hat’ and dodgy techniques to get ranked high on Google. Google recognised this and since changed its algorithm. It now prefers value-driven content that answers people’s questions. In other words – it is looking for original authentic, content that doesn’t have an intent to make money.

So whether you write a blog or do a video, you need to create useful content – ideally content based on your research above.

3) Don’t blindly copy other people’s blogs or articles!

If you like someone else’s content, then use it and re-write in your own words. But do not copy it word for word! Google’s algorithm is very sophisticated and can easily spot duplicate pages and content. It won’t rank your page if it detects copying. Don’t take the risk – it’s not worth it in the long run! Create high-quality, original, and useful content that addresses the needs and interests of the target audience. This can include blog posts, articles, videos, infographics, and other forms of media. It is also important to use keywords and phrases that are relevant to the content and the target audience, as these will help search engines understand the content and improve its ranking.

4) Make your blog/content piece longer and better than your competitors

The best way to achieve a higher ranking on Google is to look at your competitors pages that are ranking – and write a LONGER, more value-driven piece.
Assess what they are missing in their page. Could you include more pictures, videos, comparisons, product reviews? Whatever it is – make it better than their page! Also, you should aim to optimize its structure and design. This includes using descriptive and relevant titles and headings, using alt tags for images, and having a clear and easy-to-navigate layout. It is also important to have a responsive design, as more and more users are accessing the internet from mobile devices.

5) Outsource

Remember, you don’t need to do step 2) – 4) by yourself!

Instead, outsource it to a content expert on Upwork or Fiverr. These are freelancing platforms where you can get someone else to do the work for you, for a small fee.

Even if you have to pay them $50 per content piece and they produce 10 content pieces for you, i.e. $500 total – that’s $500 well spent if it gets you ranked higher on Google.

Why? Because that results in views and clicks and the chance to eventually monetize your site..

6) Use Social Media to promote your site

You can use Facebook, Instagram, YouTube, etc, to promote your site’s content for free. That is the beauty of social media. If you build a following on your social media channel by providing value – more and more people will visit your site. Again – this is FREE TRAFFIC.

Bottom line – When you get to the point where you have created a site around your niche topic and it contains useful, value-driven content that is attracting tens of thousand visitors a month, then you can easily start earning money through:

  • Google Adsense (where Google places related advertisements on your page)
  • Affiliate marketing
  • E-books
  • E-courses
  • Sponsored posts
  • Merchandise

The opportunities are endless 🙂

And for the most part, you are spending no money on paid advertising to generate this passive income.

The key is to create useful, value-driven content initially – with no intent to make money. Just to serve your market.

Remember, this is a long-term strategy.

You need to create content, attract an audience and be seen as an authority (or one of) in your niche area. If you follow the Steps 1) – 6) above – it will be worth it in the long run.

If you wish to learn this strategy in detail, and go through the same online business training I went through – then click here to begin. This will help you to get started with your online business even if you don’t have your own product or idea at this stage.

/1 Comment/by
,

12 Ways ChatGPT Can Help You Start And Grow Your Online Business

Have you heard of ChatGPT? 

It’s a form of AI (Artificial Intelligence) that can do alot for you – especially if you want to start an online business. ChatGPT reached over 1m new subscribers in just a week!

Starting and building an online business can be a complex and daunting task, but ChatGPT is a powerful tool that can help you every step of the way. 

Best of all, its a free service! Check it out here.

Here are 12 ways you can use ChatGPT to get your online business off the ground:

  1. Brainstorm and generate ideas for products or services to sell online. ChatGPT can help you come up with unique and interesting concepts for your business by asking it open-ended questions and letting it generate suggestions.
  2. Research your target market and competitors. ChatGPT can help you gather information about specific industries, products, and competitors so you can understand the landscape and identify opportunities for your business.
  3. Refine and develop your product ideas. ChatGPT can help you brainstorm product features, pricing, packaging, and more by asking it questions and getting its feedback.
  4. Create marketing and advertising campaigns. ChatGPT can help you come up with ideas for promoting your business and reaching your target audience by asking it questions about your branding, marketing channels, and target audience.
  5. Create your website or landing page! You simply have to tell ChatGPT the detail, i.e. what type of website you want, and what you want it to achieve – and voila!
  6. Develop content for your website or social media channels. ChatGPT can assist with crafting engaging and informative content for your online presence, including blog posts, product descriptions, and social media posts.
  7. Headline suggestions. Ask ChatGPT to provide headline or blog title suggestions, and it will come up with eye-catching headlines and copy for your websites and landing pages.
  8. Create email marketing campaigns. ChatGPT can help you draft email marketing campaigns that are tailored to your target audience and designed to drive conversions.
  9. Craft customer service responses. ChatGPT can help you draft responses to common customer inquiries, such as shipping and return policies, so you can focus on more important tasks.
  10. Research and analyze trends in your industry. ChatGPT can help you stay up-to-date with the latest trends and developments in your industry by asking it questions about specific topics and getting its insights.
  11. Identify potential partners or suppliers. ChatGPT can assist with identifying potential partners or suppliers for your business by asking it questions about specific industries or products.
  12. Develop a business plan. ChatGPT can help you outline your business goals, target market, marketing strategy, and more by asking it questions about your business and getting its feedback
chatgpt

Overall, ChatGPT is a versatile tool that can help you with a variety of tasks as you start and build your online business. 

Best of all, you simply have to type in the command box what you want it to do. The way you write your request is as if you are asking a friend.

For example:

Provide blog title suggestions for best ways to clean dogs... or

What is the html code for a basic landing page for a fitness niche, so subscribers can sign up to a free fitness newsletter.

With its ability to generate ideas, research markets, and assist with product development, marketing, and customer service, ChatGPT can be an invaluable asset as you navigate the challenges of entrepreneurship. Of course, ChatGPT is the starting point, and you will need to then customize its output to suit your project or business.

If you’re looking for expert guidance on how to properly start an online business, then I would highly recommend the Modern Wealthy training below.

It’s the same training I took 2 years ago!

Expert affiliate marketing training for beginners
Looking for another source of income?
/0 Comments/by

6 Reasons Why Rental Property Is Always A Winner

There are a whole host of investments out there, each with unique risk, liquidity and feasibility characteristics. I firmly believe in diversifying your portfolio, but for this post I want to share why I’m a fan of property investment and think that it’s something everyone should and can invest in. Not forgetting its an actual physical asset you can touch and feel – here are my 6 reasons;

Steady income with tax deductible expenses

The rental income you get on property investment provides a source of steady, passive income. This is unlike equity investments where not all companies pay out a dividend. In addition, you have control over the property (i.e choice of tenants, renovation, structure) whereas with equities – you have a negligible, if any influence over the strategic, operational or financial decisions of the company!

Owning a rental property is like owning a business, in that pretty much all expenses related to running the property are deductible from the rental income – which lowers your tax bill. Of course, there is no escaping property taxes but you can be smart and optimize your tax deductible expenses….legally.

Tenant pays down your mortgage

Most people take out a loan secured on their rental property, i.e. a mortgage – in order to purchase the property. As part of the loan, there will be monthly payments – which will include a mixture of loan repayment and interest. To service these payments, you rent out the property to earn rental income, and essentially this income covers the monthly mortgage payment and (hopefully) leaves a surplus/profit every month.

So basically, your tenants are paying off your mortgage. As a result, your outstanding loan reduces and the interest on that loan becomes lower (due to a lower loan balance). In time, you may increase the rent due to either a buoyant rental market or through your additional work/renovations you carried on the property.

Through this combination of lower monthly loan repayments and higher rent, your profits and cashflow increases. Eventually you want to get to a position where your rent pays off the entire mortgage, and you no longer owe the bank. This takes time, but it can be sped up with lump sum down payments where possible. T

The aim should be to get the property free of debt – making it a low risk, high return strategy in the long-run.

Inflation hedge

Property prices like most markets are subject to economic cycles and the micro-economics of supply and demand. However if you are prepared to stay invested in property for the long haul, you will find that the real returns of property are positive, i.e. after adjusted for inflation effects – the rental and capital appreciation of a property exceed the inflation rate.

This is not the case for all equities or fixed income investments. For the last 40 years both the US and UK residential property market returns have exceeded the rate of inflation. This particularly is due to the progressive increase in property prices rather than rental yields. Of course, the returns vary within regions, and that’s where location becomes a huge factor in your property investment strategy.

Sail through those economic cycles

Consider these economic scenarios that illustrate that if held over the long term, your property investment is a safe bet:

  1. Low interest rate environment => Cheaper to borrow/refinance mortgage => more house purchases => house prices increase. GOOD FOR LANDLORDS
  2. Higher interest rate environment => More expensive to borrow => fewer house purchases => mortgage payments higher => people more inclined to rent. GOOD FOR LANDLORDS
  3. Supply of housing exceeds demand => House prices stagnate/reduce => more purchases due to lower prices => eventually pushes up house prices. GOOD FOR LANDLORDS.
  4. Demand for housing exceeding supply => Can be good for house prices, rent or both. GREAT FOR LANDLORDS!

Of course, the above is just a basic implication model, and there are other factors that can contribute to the housing market, i.e. regional housing micro-structure, global credit event (i.e. Credit Crunch of 2008-2010), rental ceilings, property taxes etc.

Ariel view of properties

Leverage!

A key feature of property investing is the ability to benefit from ‘leverage’.

For example, to buy a £200,000 property would cost you just £62,000 (assuming 25% mortgage, £5k refurb, and £2k legal costs) rather than the full £207,000.

If the property price then increased over two years to £250,000, upon selling the property you’d receive £100,000 (£250,000 – £150,000 outstanding mortgage), a phenomenal 61.2% return on cash invested, while also receiving rental income.

While this is true, the reverse also holds. If the property value declines from £200,000 the investor experiences negative equity and his/her loss on investment is also amplified due to leveraging (borrowing).

Of course, the recent stamp duty changes and tax laws introduced by the UK Government on buy-to-let property has significantly reduced cashflow for landlords. As a result, investors have become less incentivized to acquire further properties fulfilling the Government’s intentions. Despite this, there are still many property investment strategies available to investors, including;

  • ‘Flipping’ (developing and selling the property in the short term)
  • House in Multiple Occupation (HMO)
  • Short-term lets including Air-BnB
  • REITs (Real Estate Investment Trusts)
  • Crowdfunding (see below)

On a budget…try Crowdfunding

Owning properties is great, but with the higher deposit requirement for buy-to-lets or rental properties, it means you can have a lot of capital tied into one property…not forgetting the taxes and any refurbishment costs.

Real estate crowdfunding allows you to invest in real estate along with other investors, usually through a platform that will propose real estate deals and take care of all the work, like listing deals, doing all the legal work, and then managing the property. This allows you to invest as little as £1,000 into a residential or commercial real estate project for potentially 8 – 13% annual returns based off historical data.

This beats the return from £1000 in your savings account! With real estate crowdfunding investing, there’s also physical asset that’s backing your investment – similar to direct investing.

In addition, crowdfunding is great for people who want the hassle of tenants or renovations and essentially want a ‘hands off’ approach once the investment is made.

Essentially, it allows an investor to invest in a variety of property deals (residential, commercial, industrial) with a much lower capital injection. Click here for a list of recommended crowdfunding platforms.

What about the recession?

The last recession in 2008 onwards was driven by irresponsible lending to house buyers, complex credit products and greed. On top of that, the banks and lenders had rubbish capital buffers and so suffered wild losses – and had to be bailed out, severely affecting the markets, economy and consumer confidence. This time around there is more regulatory scrutiny over financial products, lending and bank capital adequacy. In other words, we are unlikely to see large corrections in house prices – although that’s not to say they won’t be affected.

Consumer confidence is hit in a recession and people are less likely to spend and invest, which reduces house prices. And the property investor needs to be prepared to ride these out – especially if s/he doesn’t have a need to sell. Note that a recessionary environment also provides opportunity to purchase assets at a discount!

I would always recommend investing in property for the above reasons. Refer to Global Property Guide for a useful source on property trends, statistics and news across the world. As mentioned at the top of this article, rental properties should form part of a diversified portfolio thus aiming to spread risk. Of course, all investments should be entered with a thorough due diligence.

Property investment is a great way to generate a passive income. Another way is through a profitable, online business. If you are keen to learn about setting up an online presence, developing unique digital marketing skills and generating an impressive income online, click here to get started!

Best

/0 Comments/by

Why An Employee Struggles To Buy Their Dream House….Even An Investment Banker!

After working in the corporate finance sector for over 13 years, I’ve had some realizations when it comes to money and wealth. An employee, even a fairy well-paid employee may struggle to truly create the life that he or she desires from their employment alone. You see, I define financial wealth as having the capacity to acquire those dream assets, like the house or the car or the holiday home abroad with just cash and no loans or mortgage.

When I was a kid, I always viewed owning the £1m house as being the benchmark for being truly wealthy. Of course, with inflation a £1m house today may be worth £5m in the future – and in that same future, £1m doesn’t buy you alot. But essentially everybody’s dream home and desires are different. I just use a home as an example because it is almost always the biggest ticket item people want to purchase.

beautiful bedroom overlooking beach and sea
My dream view

And I specifically selected the salaries of a UK and US Investment Banker as they are the highest paid professions in Finance, and I want to illustrate that despite their earnings and status – it’s harder to acquire that £1m (or $1.5m) house with CASH ONLY – no mortgage.

I’ve put together 2 tables – one for the UK Banker, and one for the US Banker. The tables show how with age, the banker’s savings accumlate alongside the change in house prices.

This is only a model, and I have inserted my assumptions below each table – the key being that both bankers save away 20% of their annual salary;

UK Investment Banker financial path:

Assumptions: Salary & bonus growth at 15% annually, UK tax rates for 18/19, Personal savings rates of 20%, No interest on savings, UK inflation at 2%, Annualized house price growth is 3.7%. No other investments or sources of income.

US Investment Banker financial path:


Assumptions: Salary & bonus growth at 15% annually, US effective tax rates for 2018, Personal savings rates of 20%, No interest on savings, US inflation at 3.22%, Annualized house price growth is 5.4%. No other investments or sources of income.

From the UK table, it would take the employee (starting at a £40k salary) 34 years before they have acquired enough savings (£3.49m) before they can afford that same £1m house – which is now valued at £3.316m after 34 years.

From the US table, it would take the employee (starting at a $60k salary) 42 years before they have acquired enough savings (£13.12m) before they can afford that same $1.5m house – which is now valued at £12.958m after 42 years.

This line graph summarizes how the accumulated savings largely lag the house value over time;

You may look at my total compensation figures and find them to be conservative. But you gotta bear in mind the economic cycles, burnout and structural changes to the industry. Again, this is purely a model with my own researched assumptions. Even, the savings rate of 20% is an average. Some people save almost nothing and purely rely on living pay check to pay check.

Of course, after 34 or 42 years, and with that kind of savings, the banker may choose to buy a property elsewhere where there is more value for money or even downsize. But, the point is that, upon seeing their dream house (valued at £1m or $1.5m) when the budding banker was 21, it would take them a helluva time before they can pay for it outright in cash.

Sure, the banker can still take out a mortgage to make up the shortfall at any time during his career to buy the dream house. But it would just mean continuing to work for another 10 or 15 year to meet the mortgage payments.

Entrepreneurship

The above data illustrates that an employee (with no other investments or income sources), will struggle to purchase their dream asset if they were paying for it in cash. However, being an Entrepreneur and owning several businesses and sources of income can help you achieve this goal.

Sure, the business owner may not pay himself much in comparison to the earnings of a top ranking Investment Banker, however the benefits of having multiple sources of income are as follows;

  1. Not subject to economic downturns as much as an employee, who may lose their job. The Entrepreneur can rely on other sources of income if one or two take a hit;
  2. Not working for anyone else. Be your own boss. As a result, take as much time as you need off;
  3. As a business owner, you have controlling ownership in your company which leads to my next defining point…
  4. More chance of huge cashflow or liquidity events. What this means is that one of your businesses could eventually be sold or partially sold for seven-figures if it’s a successful venture and has been creating huge value for customers. Alternatively, a minority stake in your overall portfolio company can be sold to investors. These events create huge windfalls and allow the Entrepreneur to purchase those dream assets much earlier. And they don’t have to one-offs either.
  5. Another benefit of entrepreneurship is the incredible satisfaction you gain from creating something out of nothing. Having the freedom to do whatever you want provides for tremendous happiness as well.

I highly recommend that everyone should start their own business, and in particular – an internet business to leverage the lucrative digital economy. There are so many ways to make money online (refer to my post to ‘4 Realistic Ways To Make Money Online‘) as well as;

  • Blogging (written and video)
  • E-book
  • Online training courses
  • Downloadable templates
  • Video subscription

You definitely need to start by creating your own website, create a blog and build your brand and potentially access over three billion people online. And you can do this so easily and cheaply these days.

If you would like to make the first step to creating your online business, and learn how to market effectively online, click here to access a free video series workshop that will really open your eyes to the possibilities for making money. You will wonder why you didn’t start this process earlier! In fact, that’s something I always ask myself, especially having gone through the traditional route of academics and employment.

If you wish to get started now – take the first step to your freedom my friend.

Best of luck

/2 Comments/by

4 Realistic Ways To Make Money Online

For many people, making money online represent the ideal way to live a life of freedom from having more time and choices. But at the same time, there’s a misconception that you need to have wonderful technical skills, a flashy website, an in-demand and hot product, a support team and a warehouse to house stock. And so, as brilliant as it sounds, an online business sounds like a pipe dream to many.

The internet is full of great ideas for creating wealth, and some not-so-great ones. As with anything, each avenue or path requires an investment of your time and resources in order to launch it, make mistakes, learn, implement and repeat. The thing is, a lot of people overestimate what they can achieve in a month, and underestimate what can be achieved in a year. In other words, consistent work over the medium to long term is required to make an online venture profitable.

As a serious online entrepreneur myself, I want to give you my view on the 4 modern ways to make money online;

Create your brand and sell it on Amazon

The market-place is so fragmented these days. It used to be that there were a handful of names or go-to brands if you wanted to buy a certain product. People are less brand-conscious and are willing to consider other brands if the product meets their quality and price needs.

Amazon has certainly helped change the landscape. Amazon is comprised primarily of individuals and small companies as the Amazon platform has enable them to efficiently and effectively brand, market and sell their products. And it’s so easy!

If you wanted to start a clothing business, i.e. gym-wear, you can easily design and brand the product using a supplier from China or Turkey for example, and get it drop-shipped (i.e. no need to hold stock in your garage or bedroom!) directly from Amazon’s warehouse to the customer when you make the sale on Amazon.

Of course, marketing is key when selling anything. The community that I am part of offer extensive training and support from world-class marketers for;

  • Developing your brand and product
  • Sourcing your product efficiently
  • Identifying a target market
  • Marketing and selling to that target market using Amazon.

If you’re more than interested in this type of business (i.e e-commerce) – which by the way, is highly profitable if done properly, then I urge you to click here and watch a free video series workshop where my mentor Stuart Ross walks you through this type of business.

My Banner

Affiliate marketing

Affiliate marketing is where you advertise other company’s products and services in return for a commission. There are a range of affiliate companies, i.e. ClickBank, Commission Junction where you can source products and proceed to advertise on your own site or blog. Other large vendors such as Amazon also offer a terrific affiliate marketing program. Essentially, you need to ensure that the products and services you promote are congruent with the niche or sector of whatever you offer. So if you’re a photographer, you may advertise certain cameras or camera bags on your site – and pick up commission if the reader clicks on the affiliate link and buys that product. Note that you should have used that product or service before and would highly recommend it.

This type of strategy is fantastic for individuals that are time constrained, maybe because they have a full-time job or a family. Additionally there is little ‘after-sales’ work required. So it suits an employee who works long hours or has many other commitments, and is seeking passive income.

There are some affiliate programs that pay large or ‘high ticket’ commissions. In fact, if you are keen to learn more about the benefits of Affiliate Marketing so that you can create a passive income from high ticket commission and leave your full-time job – I would highly recommend you click here to watch a free video series workshop to develop these skills.

Online courses (inc. ebooks)

Did you know that according to research firm GI Analysts, global e-learning revenue is expected to be grow to $325bn by 2025? With so many people opting for an online course due to its accessibility, wide range of options and ease of assessing course ratings/credibility – you can see why its a great option. And surely, you’d want to be a part of that $325bn revenue?

You may be asking, “what could I possibly teach?” Or you may well have a skill-set already. What is more relevant though, is what would your market want? If you identify a subject-matter that there is no course for – approach with caution. You see, you’d want to start a course for which there is competition! Because that means that people are interested in that subject/skill, i.e. there’s a demand for it that will probably last for a long time. Essentially people buy courses because they have a problem or pain that they can’t solve. So its worth doing your market research.

Why? Because once you’ve identified that people want to learn/know, then you can spend the initial time and money to develop your course, price it at a suitable level based on the value provided – and then minimal (or no) work is required from you on the course content after that. It’s passive income coming in every month – which could soon become substantial IF you market and promote the course well enough.

The course can be in the form of video, slides or an ebook. I would recommend Teachable as a great resource for creating online courses.

Sponsored Posts

Have you noticed when watching certain videos on YouTube that the host would drop in (sometimes more than once) products that he or she uses, and would recommend you buy? Essentially, the host (if they have a large following/subscriber list) will have been approached by a brand (say men’s shaver) and offered money to promote and use the product in their video. This is an example of a sponsored post – and is definitely worth pursuing if you have a strong or niche social media following.

Essentially, companies pay bloggers, social media influencers, YouTube stars to promote their products and services. Not a bad shout if you’re in that position!

Conclusion

The above methods can deliver fantastic returns with the right marketing. When starting out, I would suggest focusing on one strategy and testing it, adjusting it, seeking advice from mentors and scaling up. Once you are earning well, you can learn about other strategies, i.e. e-commerce and creating courses or webinars.

The community that I am part of offers significant training in these strategies and mentoring to students in order to help them create a profitable online business. Many have created have been able to quit their jobs and live the life they envisioned. Click here to learn more!

Best

My Banner


/0 Comments/by