fbpx

Open up New Pipelines for Better Wealth Accumulation

Sure, accumulating wealth through a single pipeline of income might seem like a great idea, but even with an enormous amount of hard work and effort, that single flow might not produce the kind of measurable results for which dedicated business owners strive. In order to see the kind of growth in wealth for which they are looking, many owners turn to second sources of income. And no, they are not frothing milk behind a bar or bussing tables at the diner around the corner.

Instead of placing all of the proverbial wealth in one income basket, establishing a secondary business or startup can provide an additional and stable flow that can contribute to desired wealth growth. However, before racing out to start that second business, take the following into account:

Required Effort

Even with employees, freelancers and contractors, starting a business requires a commitment of time and resources. Even those who have been in the business world for years cannot escape the dedication that new startups require. For a secondary business, keep it simple.

 

Finances

The secondary business is not only to help solve a problem or meet an unmet need but to also help one reach a personal goal. Completely depleting any previously accumulated wealth to start a smaller, sidebusiness will not necessarily produce a desirable return on investment.

 

New Isn’t Always Better

Instead of creating another business from the ground up, purchasing another already-established company can be a viable option. Buying out a supplier can increase income and introduce cost-saving measures at the same time.

 

While no new venture should be approached without caution and in-depth knowledge of the possible risks, seasoned business owners are typically already intimately familiar with everything involved with the startup process.

Getting Things Done, With or Without the Motivation

Maintaining a productive and goal-oriented day might seem easy enough after hitting the first cup of coffee, but soon after reality usually hits and daily tasks and goals can take a nosedive. By the end of the day, to-do lists remain as long (or longer) as they were in the morning and many goals can still sit just out of reach.

Tired of the daily grind that produces little (if anything) to show for all of that work? It is probably time to shake up the system a little.

  • Make big goals little. Taking huge, long-term goals and breaking them down into a series of smaller, short-term goals can provide consistent feelings of accomplishment and help people stay focused and encouraged on reaching the next step.
  • Outline every step. Sure, it might seem unnecessary to tell someone, “Open up the trash can, remove the bag, tie it at the top, carry it outside and place it in the garbage bin,” instead of simply saying, “Hey! Take the trash out,” but for the unmotivated, spelling it out can be undeniably useful. Not up to the to-do list today? Try taking a few of those baby steps and notice how fast the ball starts rolling.
  • Do it anyway. Fire up the coffee pot and turn the TV off, it is time to just get it done. Motivated or not, some things just need to be completed.

Try listening to music with a quick beat or taking a quick walk around the street before settling in with the new and improved daily list. A bit of physical activity and some engaging music can be just the trick to help jump start motivation when it is noticeably lacking.

What If I Just Don’t Have a Purpose?

For those wondering if they happened to be absent on the day when purposes were doled out, day-to-day life can feel empty and unfulfilling. While this can understandably leave individuals feeling drained and disappointed in their outlooks on life, it is far from an indication that they were not lucky enough to snag a purpose. Instead, all it means is that their purpose is still there, waiting for them to dig down deep and discover what it truly is.

But what if those feelings of emptiness are not quite so sharp, or experiencing unfulfillment is not a daily occurrence? These people might feel mostly satisfied while floating through the years under the impression that there simply is no purpose for their lives. Instead of accepting that an exciting and fuel-driven life is simply out of the question, grab a pen and piece of paper to answer the following:

  • Are you living every day to its full potential?
  • Does daily life fill you with passion and excitement?
  • Do you spend enough time on the things that you truly love and love doing?

And finally:

  • If you could be doing anything at all, what would it be?

Take some time to review what you wrote down. Is there a common theme winding through your words? If so, consider what that means. There is a possibility that you might have just written down your purpose without ever realizing it.

Increase Productivity Without Trying

Do you find it difficult to complete tasks or finish your to-do list by the end of the day? No matter their employment situation, many Americans are constantly searching for ways to increase their productivity and get more done. There is a mindset in the business world that encourages longer work days and fewer vacations, all in the name of higher profits and pulling ahead of the competition. However, there is research that indicates that people who wish to increase productivity should take a long lunch–as long as two hours. It is possible that the key to getting more done is to actually do less. 

In many European countries, it is a standard practice to take a significant break in the afternoons. Despite the fact that they are working fewer hours, workers are still productive, effective and competitive. Research indicates that it is good for the brain to break from work in the middle of the day. During a lunch break, try intentionally giving yourself a mini-vacation by trying a few of the following:

  1. Read a book
  2. Visit with friends
  3. Take a nap
  4. Exercise
  5. Engage in a hobby

Two hours in the middle of the day can rejuvenate the brain, provide the motivation to finish tasks and actually increase the amount of work that you can get done during the duration of your work day. A significant midday break may seem counterintuitive, but it could be the key to increasing personal productivity and that of your employees.

Do not be afraid to take a break. Your brain will thank you–and so will your to-do list.

How to Tank a Business in 4 Easy Steps

Tired of the creative freedom that comes with owning a business? Ready to hit the nine-to-five grind and place a finite limit on your paycheck? Believe it or not, it is easier than you think possible! Just follow these four steps to bring your business to a screeching halt:

1.Fill a useless need.

Did market research reveal that customers want helpful, easy-to-use products that can improve their lives? No need to worry about that, a product that addresses a problem no one really cares about can be just as good.

2.Copy your competition.

Make your business indistinguishable from other companies. After all, if customers really wanted diversity they would just say so, right?

3.Copy Shmoppy.

Customers visit your website to buy a product, not to sit around reading all day. Forget the attention to copy writing and give yourself a well-earned coffee break.

4.Keep your purpose out of it.

OK, sure, your purpose might help set your path in life, but this is business and there is no need to force the two to intermingle. You can do whatever you want with your purpose in your off hours.

Some people might say that running a business into the ground is impossible, but ignore the naysayers and focus on your goal. With some time, effort and a little bit of luck, tearing down your business could be the easiest thing you ever do.

How the Truly Successful Grow Their Wealth

Most entrepreneurs can eventually settle on a business that is successful, stable and aligned with their purpose, but for some, there is still much more to discover.

Rather than spend years tucked into a cubicle and stashing unseen money into a retirement account, building a wealthy present and future through online entrepreneurship can be a lucrative alternative. For some reason, many people still view this as little more than an out-of-reach fantasy. However, most people have heard the stories or read the news reports of entrepreneurs who built their businesses from little more than scratch, and built a significant amount of wealth along the way.

So, what exactly differentiates those adept at growing their wealth from those who tend to hover around the same comfort level? Here are a few key differences:

Wealthy entrepreneurs understand the word “no” and when to use it.

Consider the old adage: “You can’t please all the people all of the time.” The same applies to business – you simply cannot take every opportunity that comes along. When it comes to building wealth, business owners need to understand when it is time to turn down certain offers or opportunities.

They have the right connections.

No, it is not because they were born with a little black book of business connections, it is because they understand the true value of networking. The importance of networking and maintaining a solid network of connections is far too often glossed over and ignored by those starting a new business venture.

Their wealth does not go ignored.

Sure, amassing wealth in the present is fine and all, but having that money around in the future is a good idea too. Instead of leaving huge chunks to sit in savings accounts with low compounding interest rates, wealthy entrepreneurs make investments, fund new business opportunities and keep close tabs on financial activities.

Work ethic typically has little to do with the gap between entrepreneurs who are building wealth and those who are not. This difference has much more to do with those who have an ability to gain an understanding of which tasks to dedicate their time and energy to. When a business venture continues to grow in success but wealth remains stagnant, it may be time to re-evaluate how much importance is placed on certain tasks.

Stress Got You Down? You Might Be Handling It Wrong.

Stress is one of those annoying constants in life that is pretty much impossible to escape. Like other unavoidable episodes or experiences, coming out on the other side of success better and stronger than before is all about how you handle it. In business, handling stress the right way can be the difference between a successful and mediocre venture.

Of course, it is one thing to discuss handling stress and something else entirely to be in the thick of it, which is why the most important aspect of handling stress is:

Preparation

Change will happen, and stress is an annoying third wheel that will almost always be tagging along. Understanding that stress will arise and preparing for it – go ahead, stash that chocolate in the top drawer – is key to handling it with as much grace as possible. And another thing, since you know stress is coming:

Stop beating yourself up

At the height of stress, it can be exceptionally easy to focus anger and frustration inward. Take some quiet moments of introspection and understand that yes, this too shall pass, and understand that kicking yourself while you are down will not help anything move faster. While you practice being kinder to yourself, remember:

You cannot control everything

If the source of your stress is outside of your control, focus on what you can do with the assets and resources that you have at your disposal. The only true limitations you have are the ones that you place on yourself. Stress might be an uncomfortable and unavoidable part of life, but that does not mean that it has to drag you down with it. Give yourself the time necessary to prepare, and let the next big episode of stress that hits roll right off of your back.

Blogging Toward A Stronger Web Presence

Blogging is a free, yet frequently undervalued, tool for any business working toward a stronger online presence. Every entrepreneur and business working to grow, attract new customers and expand an online customer base should be blogging. However, it can be a daunting task to come up with the needed copy for a website, yet alone the content needed for a regularly updated blog.

The content of a blog is important, as it will have a direct impact on search engine optimization (SEO). Quality, well-researched, fresh content is just as important as the blog itself. Failure to have a blog altogether or failure to acknowledge the importance of a blog can have a direct impact on a business’s bottom line. In fact, statistics indicate that companies that blog regularly have more links to their websites and drastically increase their leads.

Blogging is free, but the content doesn’t always come easily. Writing can be an intimidating task, but there are options for those who wish to invest their time in other areas. At Virtue Marketing, we have a team of writers that is exclusively dedicated to blog content. All of the content that we provide is original, well-written and carefully researched. We understand that not everyone can write–but we can, and we can help.

All of the content that we write for our clients is designed to connect with their target audience, as well as benefit SEO. If your goal is to have a well-written blog and website copy that accurately reflects your business, turn to us. Your business must have a blog, so why not make sure that it is the best that it can be?