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“Why I Didn’t Start My Internet Business Sooner” – Common Excuses (And Solutions)

I wanted to share some familiar excuses for why people don’t take the plunge and start something new. In this case – an online business. I would know as most of these applied to me.

“No time”

The lack of time to commit to building a business is the most common excuse based on surveys and polls. Time is a precious commodity, and we generally try to fill the free time we do have with enjoyable, rather than productive things. The desire is definitely there among young people but time is often cited as the excuse.

Don’t forget, each day on earth represents a greater portion of our time left to live compared to the previous day. Scary right?
With that in mind, surely you’ll want to spend less time commuting and working unsatisfactory jobs and more time with family, passions and growth?

This is why having an online presence is the best thing you can do considering so much interaction and commerce is done through social media. It is astonishing that with people and networks at our finger tips, we’re not taking advantage as we can and should.

Solution

  1. Make time. if you want something badly enough you’ll find a way.
  2. No time at this present moment, and too many commitments? Then consider an affiliate business model where you promote and sell other peoples’ products/services for a commission. This requires less time and can help build a solid side income.

“No technical skills”

Three months ago i didn’t know how to build a website or set up email systems, write blogs or create custom graphics. There are so many resources and its so easy these days. Especially when it can be just a case of point and click, and drag and drop interfaces -which means no HTML code learning required!

Solution

  1. Digital Business Lounge (for integrated hosting, website building, email, landing page) – all in one place!
  2. Outsource all the technical parts to your business using Fiverr.
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“Don’t truly believe I can do it”

I am part of a community that consists of all types of people with varying skills and beliefs. From truck drivers through to big shot lawyers. They all have one thing in common – they want to change their life. Whether that’s more money, time, fulfilment. there is an underlying ‘why’, and that’s what you have to discover for yourself.

And yes, they all had initial doubts as I did, but the first step is always the hardest.

Solution

  1. Everyone starts somewhere, but to embark on an entrepreneurial journey, you need to sort out your mindset. Mindset, confidence and being clear on your ‘why’ is discussed on regular ‘WakeUp’ calls within the SFM (Six Figure Mentors) community. Check it out!
  2. Get inspired and learn from mentors through podcasts, books and motivational videos. I particular love listening to Jay Shetty’s and Satori Prime’s podcasts.
  3. Daily visualisation practice so that eventually your future successful self becomes ingrained in your sub-conscious.

“I don’t have a product or service to sell”

This is something I struggled with initially. I always loved the idea of an internet business but just didn’t have a product or service. What to do?

Solution

  1. AFFILIATE MARKETING – As mentioned above, affiliate marketing is a great online business model for people who are looking to dip their toes into online marketing and start making money. Affiliate marketing is essentially recommending other peoples’ products and services that are aligned to your content, and that you have used before. SFM is a platform that not only teach you how to become an effective affiliate marketer, but also allow you to earn high-ticket affiliate commissions ranging in the $000s.
  2. E-COMMERCE – Amazon is the e-commerce platform of choice for millions across the globe. If you don’t have your own product, no problem. It is so easy these days to find wholesalers that produce t-shirts, camera bags, bikes, etc, and have them redesigned and re-branded according to your taste. Additionally, you don’t even need to hold stock in your garage or bedroom. With Amazon drop-shipping, the product can be collected from the wholesaler’s factory and dropped directly to the customer. The SFM teaches individuals this Amazon drop-shipping process- step by step.
  3. YOU are the product. as you have so much to share that certain people will resonate with you. Give and share what you know/love about a particular topic, area or product and before you know it, you will realise rewards from the value you give your customers and readers/viewers.

“I want to see examples of people like me make it first”

People fear the unknown and that’s entirely natural. Therefore it is completely understandable that whenever starting something new, it helps us to see evidence of success in that area thus giving us something to model on.

Before I started my journey with the SFM, I was intrigued by claims that people like me – in respective jobs earning comfortable salaries, managed to replace their salary with impressive profits from their online business. Conversely, there were also individuals in the SFM community that had nothing like the academic education or training that I had yet were commanding huge respect from their successes.

Solution

Click here to read real testimonials from real people, get inspired and change your life!


Conclusion

I wanted to shine some insight into the excuses that most people (yourself included?) say to themselves to avoid starting an online business. And with forecasted online sales of $25 trillion by 2025, surely you’d want to build your internet business and claim a tiny chuck of that??

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How You Got Here…Won’t Get You There! (Mindset Shifts Needed)

I’m going to be blunt. This is important, as it will make you self-aware and change your approach in life. But essentially, how you got here…won’t get you there.

What that means is that everything you have done in the past and decisions made to get to this point in your life….will not help you get to where you want to go.

So if you are not satisfied with your finances, your weight, your relationships, career or any aspect of your life – you have to review the approach you have taken so far. You have to review your daily attitude. You have to review your strategies, tactics and plans – if there are any at all, in order to set about changing things. Here are the key shifts required:

Set goals and know your why

When you set a goal, you are acknowledging to your conscious and sub-conscious that where you are, is not where you want to be. As a result, you feel dissatisfied. That’s when you have real power and motivation to achieve the goals, because pressure and tension drive human behavior.

Set goals explicitly, and also be clear why you want them. How will they make you feel? This is important because the purpose of the goal is much stronger than the outcome. The purpose of goals is what they will make of you as a person. Because at the end of your life, what’s important is who you are as a person.

So enjoy the process, and don’t get too hung up on the outcome…it’s more sustainable that way.

Also ask yourself how would you feel and what would it cost you if you didn’t achieve the goals? Tony Robbins suggests setting goals twice a year, review the goals monthly and review your top goals daily.

Mentors

To get to where you want to be, you need to surround yourself with people who have been through a similar path and have been there and done it. Having a mentor is so important as you need role models and someone to pick you up if you stray. Surround yourself with books, attend courses, and listen to podcasts that are aligned with your goals.

In fact, it has been proven that listening to someone speak through audio, i.e. a recording or podcast, has the same effect as if that person was sitting next to you. You want to immerse yourself into powerful podcasts! Ex-monk Jay Shetty and life-coaches Satori Prime have awesome, inspiring podcasts I highly recommend.

Momentum

Daily tasks and routine leads to consistency, which leads to momentum.


“When you experience positive momentum, you’ll never want it to stop.” — Dan Sullivan, founder of Strategic Coach

You will notice that successful people keep progressing and conquering goal after goal. They’ve worked hard to develop their momentum and know what it feels like to not have momentum. Being without momentum is rough. It’s how most people live their lives. And without momentum, results are minimal, even with lots of effort.

This is why consistency is key to developing momentum. By putting intentional effort toward a singular goal or vision, and eventually, the compound effect takes over, and you find that your reward is beyond what you expected.

So the key shift you need to make is setting aside time daily to work towards your goal. This time needs to be pre-scheduled and allows for your full focus and determination. Continuous work and practice at anything will eventually allow you to master whatever it is. Author Malcolm Gladwell’s research based on review of successful people, states that 10,000 hours of repetitive effort is required to become an expert at anything.

Think bigger!

This is an important shift, because we don’t always allow ourselves to dream. Remember there is no boundary to what is possible. Instead of seeking to earn £100k a year, why not aim for £1m a year. There’s no rule out there or judgement of you that says you’re not allowed to achieve that target. The universe can deliver whatever you want. Instead of setting a time horizon of 2 years, why not achieving it in 6 months?

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By thinking big, your brain automatically starts to think about the steps and tactics to take so you are positioned to achieve those big goals. And a huge part of this, is to reconfigure your reticular activating system (RAS) using visualization.

In any case, by setting larger goals you will find that you will surpass your initial, smaller goal at a much swifter pace. Consider that….

When I started my online venture, I realized that I had to make some shifts in my daily habit, take action and and changes my mindset. Some examples include;

  • Scheduling time in the morning, afternoon and late evening to work and acquire skills
  • Visualization and meditation
  • Getting a new laptop
  • Buying a camera tripod
  • Going beyond my comfort zone
  • Using downtime to mastermind and research
  • Ensure my fitness goals weren’t being sacrificed.
man sitting on cliff feeling free

Remember, where you are in your life at this moment is down to the decisions and choices you made. All it takes is a mindset shift and your path can easily change to one of freedom, choice and fulfillment.

Click here to learn about an Entrepreneurial mindset and valuable online marketing skills to start your own profitable digital business.

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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!

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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.

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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!

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