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Suggest You - Creating Multiple Streams of Passive Income: Why It Is Vital to Your Financial Future
In a true merger, no one culture should win. Having one side win over the other can be the kiss of death to the deal. Unfortunately, more often than not, what we have experienced in the merger frenzy are acquisitions disguised as mergers. There is typically an acquirer and an acquiree, and the lead company's culture typically dominates. If you are the acquiring company in a deal and you are not interested in blending cultures, we hope you will at least respect your partner's culture. Respectfulness helps the "merged" employees see what you as the lead company have to offer in the way of structure, processes, and business behavior. One simple way to accomplish this is to ask people how and why they do the things. People enjoy talking about their work. It gives them a sense of pride and their contributions need to be honored. In the age of the internet, accessing a fast and pow
This is what generating passive and residual income is all about, and you are especially well positioned to start doing that once you have got up your business entities set up properly.
How can you begin to do this in your business? Here are a c
Have you wasted valuable time and money on promotion that doesn't work? Have your announcements and news releases been ignored? Have you been too quiet about getting the word out how your product or service will help solve people's problems? Most of us are passionate about our work. We put a lot into coaching training; we know that we want to help others to create a better life or business. If only people would just know that we are the right choice. The message? Be willing to put consistent time, passion and creativity into ongoing promotion that works. Follow these ten promotion steps to bring new clients and sales: 1. Take personal responsibility for online promotion. Online promotion works well for those of you who are bashful or reluctant to "sell." No cold, or even warm calls. You promote straight from your home or office via ecommerce. Now, that's convenience! 2. Delegate your Online writing articles promotion to your comput
If you're in a service business, as I am, next there is that worry about being paid--even agencies and direct clients that that have reputations for good payment practices can have their own cash flow crunches from time to time. Finally, there is the need to continue marketing, and managing the flow of work so that we don't endanger our health working too many hours, but do not risk losing future jobs by being unavailable when a favorite client calls for our services.
In addition to the challenge of balancing all these demands, there is the problem that many entrepreneurs face--"dry" periods during holidays or, if you are specialized in a sector that experiences seasonal surges, such as landscaping, times when there is simply less work to be done.
During these times, especially when we are awaiting payment from slow payers, it is amply evident that we need to find a way to not to be 100% dependent on income from our current efforts.
You see, the problem with being an entrepreneur, especially in the service sector, is that we are in the "time for money" economy. We may be entrepreneurs, but basically, we work once and get paid once. That is in contrast to being in the "money for results" economy of people who are in what Robert "Rich Dad" Kiyosaki calls the B(business) or I(investment) part of the cash flow quadrant. If you have what he calls a real business--one that operates, like the local McDonalds, whether you are physically there working or not--or are an investor, the money keeps flowing because you get certain results. You don't have to be there working the business.
This is an important distinction. Do you want to work for your money, or do you want to have your money working for you? You're in a much better position to do the latter if you have the work model that my friend multi-millionaire mentor Tom Antion recommends: work once and get paid . . again. . . and again . . . and again!
This is what generating passive and residual income is all about, and you are especially well positioned to start doing that once you have got up your business entities set up properly.
How can you begin to do this in your business? Here are a co
If you offer formalized training, whether for your company employees or as a paid expert whose business is professional education seminars, it's important to assure that the entire process runs smoothly throughout the course of the training. A polished presentation, clear, informative handout materials, and a variety of planned activities involving audience participation can together result in a positive experience for the training participants. The right facility can help you create this positive experience by providing the physical layout and support services you need.If, for instance, you plan to hold a day-long training seminar which involves morning and afternoon media presentations to your entire group, with workshops and hands-on activities planned for smaller groups throughout the day, you'll want a large meeting room which offers a number of seating configurations and the ability to section the room off into two or more smaller rooms; or you can rent several rooms of di
In addition to the challenge of balancing all these demands, there is the problem that many entrepreneurs face--"dry" periods during holidays or, if you are specialized in a sector that experiences seasonal surges, such as landscaping, times when there is simply less work to be done.
During these times, especially when we are awaiting payment from slow payers, it is amply evident that we need to find a way to not to be 100% dependent on income from our current efforts.
You see, the problem with being an entrepreneur, especially in the service sector, is that we are in the "time for money" economy. We may be entrepreneurs, but basically, we work once and get paid once. That is in contrast to being in the "money for results" economy of people who are in what Robert "Rich Dad" Kiyosaki calls the B(business) or I(investment) part of the cash flow quadrant. If you have what he calls a real business--one that operates, like the local McDonalds, whether you are physically there working or not--or are an investor, the money keeps flowing because you get certain results. You don't have to be there working the business.
This is an important distinction. Do you want to work for your money, or do you want to have your money working for you? You're in a much better position to do the latter if you have the work model that my friend multi-millionaire mentor Tom Antion recommends: work once and get paid . . again. . . and again . . . and again!
This is what generating passive and residual income is all about, and you are especially well positioned to start doing that once you have got up your business entities set up properly.
How can you begin to do this in your business? Here are a c
Unless you start doing “it” today, all the quality checks in the world won’t save your company from a major stumble. "It" is right speech. As a quality manager, I like to imagine that if everybody does their job and quality is high at every stage in the production process, I’ll enjoy a smooth operation and get satisfied customers as a result. But experience has taught me that a mean spirit can infect and poison the work place when people don’t watch what they say.Mean comments by coworkers about managers, snide asides about other employees, managers who gossip about recently terminated employees, supervisors who don’t communicate managements intentions, unnecessary secrets, and people who just won’t listen are all examples of “wrong speech.” When you take a few sturdy seeds of discontent here, and add a bit of angry manure over there, pretty soon you have the good workers quitting, everyone gossiping and such an uproar that the work starts to suffer.What to do about it? Y
During these times, especially when we are awaiting payment from slow payers, it is amply evident that we need to find a way to not to be 100% dependent on income from our current efforts.
You see, the problem with being an entrepreneur, especially in the service sector, is that we are in the "time for money" economy. We may be entrepreneurs, but basically, we work once and get paid once. That is in contrast to being in the "money for results" economy of people who are in what Robert "Rich Dad" Kiyosaki calls the B(business) or I(investment) part of the cash flow quadrant. If you have what he calls a real business--one that operates, like the local McDonalds, whether you are physically there working or not--or are an investor, the money keeps flowing because you get certain results. You don't have to be there working the business.
This is an important distinction. Do you want to work for your money, or do you want to have your money working for you? You're in a much better position to do the latter if you have the work model that my friend multi-millionaire mentor Tom Antion recommends: work once and get paid . . again. . . and again . . . and again!
This is what generating passive and residual income is all about, and you are especially well positioned to start doing that once you have got up your business entities set up properly.
How can you begin to do this in your business? Here are a c
Recently, during a discussion with Suman, a co-worker in the car while stuck in a traffic jam on the way to a client meeting in Gurgaon, I shared the vision of transforming Srijan into a company in which all its members collectively manage the growth, direction, etc. In response, Suman said, we already have a good work environment within the company; and why we should think of such measures at all?I tried but could not provide an answer; and asked him to allow me to write down why, as I am better expressed that way. On the way back, I did manage to provide an answer, but decided that I would still write it, to share it across our company and possibly consider publishing it in a supportive media publication, to let the idea rub-off on other companies as well.Unlearning the ways of the worldIn the last few years, I have been deeply influenced by books such as “Built to Last” and more recently by “Maverick” and “Seven Day Weekend” by Ricardo Semler
This is an important distinction. Do you want to work for your money, or do you want to have your money working for you? You're in a much better position to do the latter if you have the work model that my friend multi-millionaire mentor Tom Antion recommends: work once and get paid . . again. . . and again . . . and again!
This is what generating passive and residual income is all about, and you are especially well positioned to start doing that once you have got up your business entities set up properly.
How can you begin to do this in your business? Here are a c
If you manifest what many consider a "controlling personality" then I'm sure that there is a great deal of stress and tiredness associated with such a state.That is because "controlling" behavior is generated by a deep anxiety that relates to you "not being in control" of others and your environment. If you think about this for just a moment, the idea that you might feel powerless and vulnerable to your situation inevitably engenders anxiety and with it a need to stem those feelings inside of yourself.Well, what "better" way than to "control" those factors that are making you anxious, correct? Wrong!Why wrong? Well first because it’s impossible to control everything in your environment. Just try and you'll see what I mean. No matter how much effort you put into it you'll still feel anxious and drained at the end of the day. What's more this will only feed into your feelings of powerlessness and vulnerability and make the situation worse.Secondly, the problem
This is what generating passive and residual income is all about, and you are especially well positioned to start doing that once you have got up your business entities set up properly.
How can you begin to do this in your business? Here are a couple of ideas to get you started:
- Think about how you can create passive streams of income out of what you are already doing in your business. As a translator, for example, I've noticed a lot of discussion on various translator discussion lists about the issue of copyright: Do you as the translator have any copyright to the translations you produce? The consensus is generally "no". However, if you work with CAT (computer aided translation) programs, as I do, you do indeed produce something in the course of your work that qualifies as intellectual property: your translation memories (TMs). Here are some ideas as to how this might work for you if you are in translation or in other service industries such as consulting, photography, or even manufacturing, in which you no doubt produce intellectual property.
- Assert your rights by inserting a copyright notice, getting trade or service marks, or obtaining patents to protect the product of your work. You must protect the fruits of your labors by making it difficult for others to sell it or use it for their own profit
- Charge a separate fee for your protected materials. Annoyingly enough, some agencies are starting to demand that you offer a discount for "fuzzy matches" and still more, that you submit your TM with the translation. This is something you should avoid doing if you possibly can. One agency for which I work regularly has started to claim the right to deduct 10 or 15% off your fee if you fail to submit your TM with the job, if they requested the TM at the time they offered you the job.
I believe that all translators should treat TMs as the valuable intellectual property that it is and charge such a fee in addition to the cost of the translation job itself. 100% or 200% of the job would be reasonable if you stand to lose even just 2 or 3 future jobs, but if you're afraid of losing clients, perhaps you could start with simply applying a lic
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