The coming financial collapse, it could break you or it could make you.
If you want to work from home then you need to take make some decisions. First, you must decide whether or not working at home is right for you. Next, you need to consider what type of work at home job you will be doing. There are many opportunities for Wahms out there, both offline and off. Having a successful Wahm career starts with evaluating your own skills and requirements in a job and then finding the right match.
Sometimes the best place to start with your Wahm career is where your out of the home career ended. Many women find that they can become independent contractors in the field that they previously worked in. You can use your previous work experience as a launching pad for your Wahm career. Some of the ways to use your experience to your advantage are: finding a company that hires people in your field to work from home, using your previous experience to become an ìexpertî writer in your field or starting a business related to your previous field.
However, some women look at their Wahm careers as a way to break out of their old job. If youíd like to try something completely different, there are plenty of opportunities for entry-level work as an independent contractor. Many of these jobs deal with telephone or online customer service. When you work as a customer service agent from your home, you just need a reliable Internet connection and a working phone. Companies also hire medical transcriptionists, data entry professionals and virtual personal assistants to telecommute.
If you want to start your own business, the opportunities are very vast. You can start with a direct sales company and sell products from an established brand to friends and neighbors. Youíll make commissions through your sales and also off of recruiting other people to sell the products. There are hundreds of direct sales companies that offer everything from aromatherapy products to candles to cooking supplies.
Another option for starting your own business is offering a service in your community. Day care center operators, florists, professional organizers and hairdressers all have the option of working at home, among many other professions. Of course, starting a business in your community normally means that youíve had some experience in that field. However, there are some small business ideas that can be started without much experience at all.
Many women turn to the Internet for a source of at home income. The World Wide Web offers a plethora of job opportunities. You can offer your services online as a freelance web designer, writer or virtual assistant. You can also start an online store that sells products that you make yourself or have the rights to resell. Many Wahms establish their businesses online by using one of the popular auction sites, like eBay. Still others find a home in internet marketing, by directing web traffic to a website and then recommending certain products and services.
Decide first what type of job youíd like to do and then work from there. If you are truly a people person and need to get out each day, direct sales or a local service business might be right for you. If you are the type of mom who lives online and is comfortable with the Internet, try finding a job or starting your own business on the web. If you like the comfort of having a weekly paycheck, look into telecommuting positions.
Once youíve decided what category of job you’d like, do some research on what it takes to be successful at that type of business. If you feel like you are drawn to one particular business or company, then sit on your decision for a week and see how it feels. Imagine what your life will be like as you take on the duties of that job. Most importantly, be realistic with yourself about how much time you can devote to your business. Make sure you are passionate about whatever you do.
The Art Of Investing With No Money
So you want to become an Investor?
Well it really is straight forward is it not?
All you need is some cash or some equity and away you go, you head off find a deal whether it is real estate or a business, evaluate it and then part with your hard earned money…
But what if it bombs?
What if something happens and the market dives?
What if you timed it badly and bought at the top and the next day it plummets, or the company loses its main client?
What if there were another way to invest, without having to uh, invest?
“What’s that?” You ask, “You can actually invest without investing?”
The short answer is yes you can invest without investing your own cash, you will however have to invest some time and most likely a lot of work. You will always have to be willing to invest one type of resource to avoid investing with another.
Let’s have a look at some the ways this can be done.
– Equity, either your own in some type of asset already in your portfolio or perhaps a family member.
People often use this approach after buying their first home, once they have paid down some of the home loan, they refinance and use some of the equity to purchase an investment property that can return some passive monthly cashflow.
This is an awesome idea as you now have another asset, which you can use to leverage and rinse and repeat the process, in order to acquire another property. Building an asset base with real estate is an extremely popular investment model with millions of people around the world for the following reasons:
– An asset that in most cases will appreciate over time
– An asset that can be leveraged in order to get more financing
– Can return positive cashflow
– Can provide some incredible tax breaks that could increase your own personal cashflow depending on where you are and how you structure it.
Yes there are some cons as always with any type of investment as well risks. Though keep in mind that without risk, there will be little reward.
– The market can slump as it did back in 2008
– Natural disasters
– Damage from unruly tenants
– Your circumstance may change and you can no longer meet your obligations
All very real scenarios that any investor could be subjected to, but there are ways to manage these risks, so you can minimise the damage or likelihood that something will go wrong.
– OPM or Other People’s Money.
Yeah you heard me, Other People’s Money. Now this is something that I find simultaneously exciting and intimidating, as what happens if you lose other people’s money?
Well, you lose other people’s money don’t you?
You see the common approach is that people start to invest in a 401K or superannuation scheme, whereby they take your money and put it somewhere that returns around 1% per annum. Which is better than nothing you might say.
In actual fact it might as well be nothing as usually the rate of inflation is around 3% per annum. So therefore your investment is going backwards and that is assuming your retirement fund which is normally invested in mutual funds is going up. But what if the market slumps here too?
Well then your investment, that you don’t really have a say in goes down the toilet, and you might be lucky to get an apology. “Sorry but it looks as though you are going to have to work right up until your last day.”
Whether it is an IRA or a 401K or superannuation scheme, there is just as much risk, if not more than with an investment that you can manage yourself. You can even find people to manage them for you, if you direct it towards something that can yield a higher return.
With that being said, people who have a self-managed retirement fund might want to consider using their funds to invest in a real estate deal that you find. This could be in the form of a single family dwelling, or multifamily complex. Whatever the method, all can be an extremely lucrative way to invest money that stands the risk of being lost to someone else.
This way you have control over these assets, you determine when to buy and when to sell and you don’t have someone charging exorbitant hidden ‘fees’.
Where this comes in handy for a no cash down deal, is to be the middle man and link the self-managed retirement investor with a seller and take a cut. Some deals could make you thousands or even tens of thousands of dollars.
You may or may not have heard of a process called wholesaling, where you find a property for sale, whether advertised or not, make an offer and get the seller under contract and then flip the deal to someone else before the contract is up for settlement and at a greater price, pocketing the difference.
Another cool little method if you have a list of buyers ready to go, though there is a chance you could run in to trouble if you don’t have your buyer ready to go before the deal settles, so you have to be both diligent and organised. This method can also yield thousands, if executed correctly. Not a bad return on investment especially since you didn’t put any money in at all, just think about that for a second…
– Seller Financing
I really like this idea, though it will take some basic psychology practises as you will need to build rapport with the seller, to prove that you are trust worthy and are not going to bail on the seller.
There are ways in which you can help to build confidence in them however, buy including a clause that states, they reclaim the property if payment is not made within an agreed time frame, obviously you will need to have a contract in place with the help of a professional.
It will help to have some numbers prepared on the property that illustrate how the deal structured this way will benefit the seller, saving on agent fees and them collecting an interest component instead of the bank.
This type of deal would suit more of a distressed seller but not desperate.
– Save For A Deposit
The most common method and by far the least exciting and creative.
It does however have it’s merits and should always be considered. If you are able to save for a deposit in Melbourne or Sydney, Australia or Auckland, New Zealand or New York, NY then it’s a fairly solid indication that you are both disciplined and well paid.
Having a steady stream of income with regular amounts of money being put aside, looks really good and gives the bank confidence that they are lending money to the right person or people.
Acquiring A Business
Now this can be a very exciting procedure.
Believe it or not, there are ways in which one is able to acquire an existing business without needing to invest one’s own personal cash.
Like with real estate there are various ways in which one can achieve this, whether it is only a small one person operation or a larger more complex business, it can be done if you know what you are doing, and how to execute the deal.
There are quite a few variables that must be considered when trying to cut a deal such as this, but it can be hugely rewarding if it done right for everyone involved.
When doing deals with businesses that generate $10M or more annually, the seller will be more motivated by price in most cases.
Whereas doing deals with businesses that generate less than $10M annually, the seller will be more motivated to sell to sell to someone they feel will nurture the business moving forward, taking care of valued employees and preserving the culture and everything the owner has built over the years.
Using this to your advantage as a no cash down buyer, can help to cement your position as the safe pair of hands.
In most cases they want to know that they will continue to see their legacy even in their departure.
A type of deal like this will work if you apply ratio of about 10% numbers and 90% psychology.
The simple process is to find a deal, whether it is in your immediate network, or to approach potential businesses in your area of expertise and ask if they had considered an exit at any point soon. Baby boomers are a good age group to approach as they will be looking to retire soon.
Shutting down a business may in fact be more costly in the long run, if things haven’t quite gone as well as they might have hoped. It might not be a easy to exit the business as they had hoped.
When a company winds up operation, all creditors and outstanding debts will need to be paid, which could lower the amount of cash taken out of the business at close. It could even see the seller in the red.
Not a great way to commence retirement.
Finding a deal like this could be gold as you could use this to your advantage, by offering yourself as their way out.
Selling it to you could see you enter the business and relieve them of any stresses or concerns they might have.
So as you might be wondering how exactly would you finance a deal without putting any cash down?
Well like with real estate there are a number of ways in which you can achieve this.
– Asset Based Lending
This one is really cool.
This is the method of using a finance company to loan you the deposit whatever the agreed percentage is.
You pledge the assets of the target business as collateral against the loan in the event of liquidation. This way the seller gets some cash at close, then you might be able to seller negotiate seller financing as the method to finance the balance.
That is why psychology is the best weapon to have in your arsenal as a no cash buyer.
You will need to display your prowess in either operating a business in the same sector, or the ability to implement the right team members in order to run the business.
In my opinion you do not want to be running the day to day operations of the business anyway, as you should really be looking to make further acquisitions that could complement your new asset.
One of the best assets you can use to leverage for finance is invoice factoring, whereby you are essentially selling your unpaid invoice to a lender and they will loan often 80% or more of the invoice value plus their fees.
Usually one the easier methods to get approved for.
– 100% Seller Finance
Just as the name suggests and just like with real estate, you can negotiate 100% seller finance if the deal permits it. This will require some due diligence on your part, with the correct team of professionals in place. Accountants as well as Lawyers to make sure you are covered from any litigation that may filed against the company. You do not want to inherit any of that.
This is the type of deal where the seller really wants to get out of the business, but does not have the right way to do it.
This is also a great place to exercise some basic psychology skills.
Structuring your payments over a period of years could see you owning the business outright sooner than you may think.
If you are able to polish up the business a little more, then you may be able to flip it for a higher price and pocket the difference in a matter of 3 to 5 years.
– Venture Capital
This one will be a little harder to obtain and each VC firm will have their individual requirements. But still very well worth a shot. Especially if the target business is in the technology sector.
Still relatively new by comparison, but there are a growing number of Crowdfunding services available nowadays, so it is definitely worth a look.
You could try a combination of all some or all of these to get the deal to happen.
I think that is where I find the most excitement, in trying to make all the pieces fit to execute the deal.
It does take a lot of time to make it happen, but in the end it is so worth it.
If you can buy a $5M deal with no money out of pocket, have it pay you a dividend throughout your time at the helm, and then sell it for $5M 5 years later, even if you still only paid half back, that still an incredible return on no money down!
I have an eBook that goes in to more detail about the whole procedure, so be sure to check it out here.
Wishing you the very best of success in your journey.
Drop shipping has become quite a hot topic in recent years, especially with the huge increase in internet users looking for ways to generate an income online.
While the practice of drop shipping is not a new concept, it has become a very popular method of fulfillment for e-commerce store owners.
It also has become very attractive to new and aspiring online entrepreneurs thanks to its relatively low capital start-up and so many tools available to build a store and fill it with products very quickly.
In this article I will be answering some common questions I encounter regularly about starting up with drop shipping with the approach of 2019.
I first heard the term Drop Shipping from a good friend of mine back in 2005 while living temporarily in Vancouver, Canada.
At the time however, I
had never really considered that I could become an entrepreneur for a very low
amount of start-up capital, and then use that money to fund the rest of my
travels, so long as I had a an internet connection and computer access.
The truth was, I was only interested in partying and having a good time in the weekends.
The joys of being young!
“Had I known then, what I know now… “ How many times have you heard that?
How easy is it really to start Drop Shipping?
With the tools that we have available now and ease of communication with anyone in the world, it is now easier to set up a store than ever. There are a few different platforms to choose from to build out a real online store, with free theme options as well as paid giving you a little more control over the look and feel of your website.
So to actually set up a store and have it ready to fill it with products of your choosing, it is very easy and can be done in a matter hours.
Can people really earn a living from Drop Shipping?
Short answer… Yes people can really earn a living from drop shipping.
It does of course depend on the individuals own personal circumstances, the structure of the business and the level of desire to grow the business.
I would not insist on using my drop shipping store as my only means of income, as there are so many moving parts, that if one were to break and income ceased, then you should ideally have something else to fall back on. I will only ever use it as a means to supplement income.
If trying to grow the business then it would be wise to reinvest profits to help scale the operation, which could also have some adverse effects, as this could mean there would be a need to hire employees which will increase business expenses, but if done correctly could increase profit margins and allow more time for other aspects.
This is where some people use virtual assistants to undertake some of the more menial tasks.
Is Drop Shipping still a viable option now?
It is important to understand that drop shipping is really just a method of fulfillment, within a much larger industry. That industry is the retail industry and retail is an absolute titan in the world of business. In 2018 it is expected to hit around a staggering $25 Trillion dollars globally.
An incomprehensible amount of which you only need a small piece of the market share to run a successful business.
To answer the question, yes it is still a viable option especially as it can be so easy and inexpensive to get up and running.
Although it would be best used to generate revenue while looking for products that you could use to create your own version of, then move towards the more traditional method of buying in bulk in order to increase the profitability by having a lower cost per item.
Since drop shipping relies on only purchasing a wholesale product, usually one at a time, the cost per item is generally higher than if you were to buy in larger quantities. This is where the challenges in being profitable begin.
At the same time, because you don’t really have to outlay the cash upfront to buy the products, you can use the revenue generated at the point of sale to purchase the item of inventory. This is what makes the method so attractive to many looking to start an online business.
Could I replace my job?
Depending on your circumstances you could absolutely replace your job, but make no mistake about it, having an e-commerce store as a business, is exactly that, a business and in order to be successful it is of the utmost importance to treat it as such.
It will take work, dedication, perseverance and you will undoubtedly run in to problems along the way.
It is not simply a matter of throwing up a bunch of products on your site and hoping someone buys. That is playing the lottery and is likely to yield even more disappointing results.
Understanding this before commencing is going to increase your likelihood of success, this is not a get rich quick scheme, so please do not expect to be retiring within weeks of launching your store.
Where is the best place to source products?
Thanks to the internet and websites like Alibaba and little brother Ali-express, the ease of which one can obtain suppliers is truly remarkable.
However, the best way to get suppliers is to do it the seemingly long route of searching for suppliers of your prospective product in your niche and also in the geographic location you want to sell in.
Since Ali-express is located in China, there could well be issues with longer shipping times if wanting to sell in the US for example.
If you are able to find a supplier in the same country, you are going to decrease the amount of time your customers have to wait, which could reflect well on your store’s reputation.
What is the best platform to use?
This is one that will really come down to personal preference in the long run, however personally I like Shopify as there are some really good apps that can be used to make the running of your store a lot simpler. Starting at around $30.00 per month it is substantially cheaper than having to rent a physical premises. Shopify offers a 14 day free trial.
It is also relatively easy to completely strip out your whole product range and start again with a different niche if you decide. Provided of course that you have domain name that will allow drastic changes.
How do I get started with Drop Shipping?
This really is the million dollar question, the best thing is to spend a bit of time doing some research on your niche, to give you the best chance of success, you will want to make sure that you choose a product or niche that has a demand, remembering that if you have competition then you also have demand, the trick is to make sure that the product is sustainable and not saturated.
There is a huge amount of information available on YouTube, the problem however is that there is so much information, it can be a job in itself trying to sort through it all to find the things that are either relevant to today, or relevant to you.
You could truly spend
an entire year trying to watch it all and then implement it.
The next thing is taking massive action on those things you learn.
What then if you begin to take massive action and you find that it is not working? Trial and error may be alright if you have a larger budget. If you don’t then you want to be fairly sure you are heading in the right direction from early on.
When it came time for me to begin my drop shipping journey, I knew that I will benefit most from having a proven system to follow, so I could cut through the white noise of YouTube and avoid the things, that I didn’t need to sort through.
That was when I was lucky enough to discover something that helped me in a huge way.
You can check it out here.
Having pieces of the puzzle laid out ready to use, helps makes the whole process so easy to streamline. Rather than having to do it blindly.
The thing about getting in to any sort of business is, the more money you try to save, the more time you are going to have to sacrifice in exchange, so you have to consider this when commencing. You can really speed things up by having more start-up capital as long as it is allocated correctly.
Waiting for the perfect time could also be something hinders your progress, so if you want to get started in anything, you need to start strong and with confidence. You may make mistakes but that is all a part of the process, and necessary in order to grow and learn.
Everything I have learned in my drop shipping journey has come from a free web training that we have running and I encourage you to sign up to get a good look at what is possible, especially if you can have things laid out for you Be sure to check it out below.
Best of luck!
Thanks for joining me!
I guess for my first blog post I should take a little time to introduce myself.
My name is Brad Schaumkell (Dawkins) and after having an extensive career in construction, which began after leaving school in 1998 in New Zealand. I one day woke up to realise that I no longer wanted to be subject to the same grueling routine day in day out.
Being in the construction industry as a scaffolder, while lots of fun at times can be incredibly taxing on the body, and as a result I am still carrying injuries from a decade ago that will never heal.
So much for having a great work ethic, I’m lucky I still have some use of my right (dominant) shoulder.
In the pursuit of a bigger paycheck I fell under the spell of FIFO work or Fly In Fly Out work during the resources boom in Australia at the time.
The oil and gas industry had been cranking along and they were willing to pay us huge amounts of money in exchange for our time, to help them build huge processing plants that will bring in billions of dollars annually.
All we had to do was agree to stay in the middle of nowhere, in 50C degree heat for 4 weeks out of every 5 and they were nice enough to fly us home for 1 week so we could see our families.
Enter the 4 and 1 roster, or the suicide roster as it sometimes referred to as.
One of the jobs I was on in Karratha, Western Australia had some great financial incentives, and they have a way of luring you in.
It’s so easy to hooked on the big pay cheques and start to lose sight of those things that really matter.
It happens to a lot people that get in to the industry and I guess that is why you do it.
I know some people had a great handle on how to handle it, between themselves and their families.
I know some people could deal a lot better than others, some might even be better in that sort of situation, as them spending too much time together could prove to be detrimental to their relationships.
For me, I got hooked on the money and believed that I could do it for years and years.
After being made redundant in early 2012 I stumbled across an amazing website that shows people how to build wealth through a variety of different strategies.
Everything from whole life insurance policies that can essentially be used as your own bank, if done right to buying gold and silver in case we had another currency crash.
Using real estate to generate passive income, and it doesn’t take a genius to understand that by scaling this model, you could eventually replace your income (job) if you could acquire enough properties to do so.
I was introduced to the importance of becoming your own boss, by either starting or acquiring a business.
This all seemed great so I decided to embark on my own entrepreneurial journey.
Over the next couple of years I tried opportunity after opportunity and made a sale or two here and there, lost some money, bought a bunch of hype (crap) and didn’t seem to get very far.
Most of the opportunities I tried were MLM or things like Binary Options.
There are so many scams out there it’s hard to know where to start.
Due diligence only serves you so far if you don’t really know who or what you’re looking for. Though you should not skip this step on any opportunity you consider.
The best thing anyone can invest in is there education, and not the type of education you give up 4+ years of your life to get.
While I can respect those that do decide to go down this path, I know it is not for me. I had always known I wasn’t stupid, despite doing many stupid things, I just know that school wasn’t designed for the way in which I learn best, like so many others.
It is a lot harder to achieve financial freedom working for somebody else, unless of course you are being paid around $500 p/h as a big shot lawyer in which case you need to spend a lot more than 4 years studying. Again not for me.
Take a look at Zuckerberg, Branson or Jobs for example. I’m not saying that you should can the idea of university so you can become a billionaire, but I’m saying it is not the only way to excel. I’m saying it can be done without having to make the sacrifice and you can learn something that will have a huge impact on your future, if you can see through the noise and be focussed on the right things with the right execution, or even simply just taking action, even if it is the wrong action, you will learn something for sure.
That’s why so many jobs advertised ask for people with experience.
You need experience to get a job, you a job to get experience, perfect!
That is the idea behind this blog.
To show that there are other ways to generate an income without having to rely on just a job.
I will be sharing some of the strategies I am either involved with or endorse. Some of these opportunities will be paying me commissions to promote, and some will just be to try to help anyone that feels that life was not meant to be spent working, unless you choose to, not because you have to.
I’ll always remember some of the comments I heard over the years while being in the FIFO life, when telling people that I wanted the kind of lifestyle like in “The Four Hour Work Week” by Timothy Ferriss, they would look at me strange and the say, “I’d get bored if I wasn’t at work.”
And that baffled me, always looking to do the overtime because of the extra money and by rights you should get paid well for doing long hours.
The problem is, exchanging time for money. It’s the basis for the pay structure of most jobs, so it is something that is so familiar to us so we just blindly accept it.
There is so much more to life than working,
This further reinforced my desire to try to find that magic formula that would see me being able to follow my dreams and allow me to stay home and be with my family.
Here’s to your future, I hope you find true prosperity in life, amazing value here and the kind of happiness that we all deserve.
It will take work and it will most likely take time, no matter what it is. Thought the better you get at something the easier it will become, so stick with it and stay away from shiny object syndrome.
It is something that hindered my progress with earlier attempts at trying to generate income from home.
Taking massive action and sticking with it, will have undoubtedly seen me progress much earlier in my quest.
But you live and you learn.
Good company in a journey makes the way seem shorter. — Izaak Walton