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Friday, 15 January 2010

3 Surefire Ways to Get Rich Quick - Do They Really Work?

The numbers are in - economic experts have predicted that in 2010 the economy will still be on the down side. During these trying times, we tend to look for ways to alleviate the tight situation. A lot of people will always welcome those fast and easy prospects of improving their lot. It seems that the so-called gurus on financial success are having a field day in the midst of increasing desperation of a growing number of people in searching for ways to pull themselves out of their present financial predicament. When people get into trouble because of job cuts, payment defaults and foreclosures, these so-called financial experts will always have the solutions.

Here are the 7 most popular quick-fix solutions that we normally hear from them:

1. Go into stock speculation


It is being hailed as our ticket to overnight financial windfall. It is a given that there is money in stock trading. You only have to make the right choices and invest on right ones. In most cases, it is wise to look for small companies as we all know that blue chip companies all started small. Your stock portfolio will grow as these companies expand their businesses.


If you are looking for the right way to improve your finances, then stock speculation is not a sound option. Stock speculation is done without much research. You are actually gambling instead of investing. You have to understand the fact that if indeed this is a great option for those wanting to get rich, then everyone would be forming a beeline to get a piece of the action.

2. Become a Real Estate Flipper


Buyers are king and this is the best time for real estate flippers. Let's see - rates and house prices are still in the low levels while inventories are high in most real estate markets. It is the best time to take advantage of the fallout of the bubble burst. Buying cheap properties will yield gains by as much as 25%! You can even use your real estate property to leverage a low interest home equity loan to purchase cheap properties. You will surely laugh your way to the bank once house prices start to pick up.


There is no indication that the real estate market will bottom out any time soon. Buying now is a totally sound decision if you are looking for one that you can call your own. Otherwise, you end up speculating again with the expectation that you will be able to unload the property in the near term. You are playing with fire and inviting disaster of colossal proportion. House flipping can lead to financial ruin so very careful when you leverage your present equity to finance a "bargain" home.

3. Become a blogger


The Web is awash with "proven" techniques that will help you turn your blog into a veritable cash cow. You don't have to be another Fyodor Dostoevsky to generate strong following. All you have to do is throw in some really profitable ads and write posts and you are ready to go. It's that simple.


Sadly, all these promises of great wealth from blogging don't come overnight. You might earn a few cents from your advertiser accounts and after using your "secret blogging formula" for a few months, you will learn that there is more to it than your formula. It would take a lot of hard work and persistence before you can finally see green. This is not for you if you are looking for a quick rich scheme.

At the end of the day you will learn that there isn't much you can expect from these get rich quick schemes. The gods must all conspire for you to get rich overnight. And if you are not fortunate enough to get them working for you, then you have no other choice but to rely on sheer hard work and persistence.

(Source: ezinearticles.com)

Thursday, 14 January 2010

So - You Want to be Rich? 7 Wealth Attraction Tips for Entrepreneurs

We all hear it. We all say it. Everyone wants to be rich but, short of picking the lucky numbers or winning the Publisher’s Clearinghouse Sweepstakes, most people go don’t know how to amass the wealth they dream about.

Here are the top tactics of successful entrepreneurs:

1. “Dig the well before you’re thirsty” – Confucius

We discussed this last week. Marketing, whether your business or yourself, is the one task that wise people do daily – YES...DAILY. You should do at least one thing each day to keep your marketing funnel full.

2. “The moment you begin to think of time as precious and that it has a price, the richer you will become.” – Robert Kiyosaki, Rich Dad’s Guide to Investing

Do you spend your time wisely or do you squander it by spending hours in front of the TV? Successful entrepreneurs understand that how they spend their time determines their future. It’s critical to do the things that will move you/your business forward each day.

3. Have a wealth mindset

Successful entrepreneurs are focused, first and foremost, on being secure. Then on being comfortable and finally, on being rich. It is this focus on security that forces them to build systems and look at the big picture as opposed to doing what is best only for the short-term.

Successful entrepreneurs also understand that they need to invest in themselves and their business in order to reach their long-term goals. Doing things “quick and dirty” or for the fast buck doesn’t create the long-lasting success that you are looking for.

4. Have a sense of urgency

Successful entrepreneurs are not procrastinators – they get things done and done today! Their sense of urgency is borne not only of their appreciation for the value of time, but also as a way of insuring their clients are always satisfied. Why make them wait? Happy clients purchase from you and they do so repeatedly.

5. “Don’t feel overwhelmed...just do one thing at a time.” -- Rose Lindsey character in “Don’t Tell Mom the Babysitter’s Dead” movie

The above quote may sound familiar and is a trademark of all successful entrepreneurs. Have 100 things to do? Don’t know where to start?

Just pick one and do it. It doesn’t matter which one, just do something. Sitting and staring at the pile or fretting about how much you need to do won’t get you anywhere. But doing one thing, and then another, and then another will.

6. Be a “big picture optimist and detail pessimist”.

Direct marketing guru Dan Kennedy tells the story of how he travels a lot and never worries about the plane going to the wrong city or exploding in midair or experiencing some other trouble that would result in his never reaching to his destination (big picture optimist). At the same time, he plans for the plane to leave late and arrive late, for his luggage to be lost and for the food (when you get it) to be inedible (detail pessimist).

Using this approach in project (and travel) planning insures that you’ve anticipated the potential problems which Murphy’s Law usually provides and have solutions already in hand. The worst that can happen is that you never need your “Plan B”.

7. You can't (and shouldn't) do it all

Successful entrepreneurs know and understand that trying to do everything themselves is a prescription for overwhelm and burnout.

The truly successful create teams and delegate effectively. Having one (or several) good virtual assistants, a bookkeeper, a pre-paid legal plan, etc. takes the day-to-day minutiae off you so that you can focus on the big picture.

No matter where you are today, I encourage you to do one thing today that will move you forward in your goals. Remember Confucius (knew a lot, didn’t he?): “A journey of a thousand miles begins with a single step.” Take that step today and feel the momentum carry you forward.

(Source: ezinearticles.com)