29. December 2007 by Pat.

Most millionaires have sure fire financial plans that have helped them build their wealth over time. People who are very wealthy have figured out some of the basic secrets of the millionaire mind. One of those secrets they have in common beyond their personal wealth is the way they perceive money. Wealth creation, for most millionaires, begins with a healthy awareness of the money they spend and a respect for the money they earn and how it can best be used as a tool.

There are certainly no guarantees when it comes to becoming a millionaire. No magic formulas exist that allow people to quickly and easily create sizeable wealth. There are, however, some principles that are likely to reap better results when it comes to making more money. Those principles, or secrets of the millionaire mind, are widely known and practiced by most millionaires and those even wealthier.

A huge secret as to why most of us have never seen a million dollars in our bank accounts is simply because we spend too much money. One of the biggest secrets of the millionaire mind is that most millionaires begin to accumulate their wealth by living within their means. That translates into not always buying a new car, brand name designer fashion labels and eating at home most often. In fact, most millionaires aren’t simply recognizable on the street by their appearance. It would take a peek into most millionaires’ bank accounts to realize how rich they truly are.

Another to the secrets of the millionaire mind is that millionaires invest in items that yield good returns. Investing in vehicles with no or little return is one thing millionaires just won’t do too often. Clothing, electronics and household items depreciate in value just as soon as they are purchased. Most wealthy people divert their assets to items that appreciate in value, like real estate, investment accounts and even cultural pieces such as artwork. They have a good understanding that you have to use your own money as leverage. Make your money work for you!

Most people, the wealthy included, do not have a lot of knowledge about where we should put our money. The biggest of the secrets of the millionaire mind here, is that many millionaires have an ongoing relationship with people they trust such as financial advisors, money managers, or investment bankers, who assist them with creating a solid financial plan. Not having a financial plan for the future creates an apathetic viewpoint towards saving and properly managing money. If you don’t know what you’re saving for, you’re more likely to overspend.

Finally, another one of the secrets of the millionaire mind is to avoid being in personal debt. When money is owed, and has to be paid back, that money isn’t available to be saved or invested at all. So essentially, any money that is owed is money lost. It’s important not to have too many credit cards, and to only rely on them in an emergency. Credit cards shouldn’t be used as a means to pay for everyday items, but as a last resort.

At the end of the day, all of us have the ability to become a millionaire. A healthy view of money, a fiscally responsible approach to money, and an awareness that action needs to be taken to achieve wealth are a solid foundation to true wealth creation. Only by unlocking the secrets of the millionaire mind can wealth creation begin

Posted in Personal Development | Print | No Comments »

26. December 2007 by Pat.

What is momentum? Webster Dictionary says momentum is the “impetus of a moving object.” And we are the moving object! In our business, we must remain focused on moving forward toward our identified goals. Owning a business comes with ups and downs, yet the more momentum you expect of yourself, the more “ups” and less “downs.”When we allow ourselves to remain stagnant within our business system, productivity slows down and we become frustrated. We, as the CEO’s of our businesses are the only ones in control of our productivity. I am sure everyone reading this article desires high productivity. Then take a stand for yourself and keep up the momentum.

Once your business plan is in place, follow it! Take the necessary steps to accomplish given tasks, on a daily basis and move on. Never sit on a decision. Successful leaders make decisions quickly and keep up the momentum.

“The difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next. The difference between the two is the difference between living fully and just existing.” Michael E. Gerber Author of The E-Myth Revisited

Whether you have been running your business for a lifetime or just starting out, the buck stops with YOU and YOU are the driving force toward your desire for success. Continue to uphold your aspirations for accomplishing your objective, believe in ability to succeed and send those positive vibrations into the universe…they will come back to you…tenfold!

Posted in Home Businesses | Print | No Comments »

23. December 2007 by Pat.

I’d like to take this opportunity to wish all of my blog readers the very best that the Holiday Season has to offer. 

I wish each of you health, wealth, prosperity, love, gratitude, joy and enough free time to enjoy all of the above with the people you love the most.

I also wish that each of you has a more fulfilling and lucrative 2008 than you had in 2007.  Cheers!

Sincerest Best Wishes, 

Pat Gras

Posted in General | Print | No Comments »

17. December 2007 by Pat.

You’re all fired up. You want to succeed and you seem so close, but then things begin to crumble and fall apart. Why? It seemed like you were on the right track doing the right things. Historically when you look at those who succeed and succeed in a big way you’ll find they all: had imagination, believed in themselves and what they were doing, were passionate, were very decisive in their ability to make decisions, and were persistent.

Those of you who are more logical than creative may look at imagination and think you’re sunk. You may be thinking that if you have to be imaginative or creative there’s no way you can succeed, but don’t let imagination scare you. The kind of imagination or creativity you need is the ability to see an opportunity to take an application that works in one arena and apply it to a different arena. Or the imagination to see how you could make something work in a better way using either new or existing resources. You don’t have to be an inventor. In fact, other than Thomas Edison few inventors are ever really successful. It’s the people who can find a use or new use for what an inventor creates that are hugely successful.

If you believe you can you can and if you don’t you won’t. If you don’t believe in yourself and what you’re doing you certainly can’t expect others to. What would it take for you to believe you can succeed? Once you have that belief in yourself you need to be passionate about what you’re doing. Your passion will be contagious and will open up opportunities for you.

When you can’t make quick decisions you often lose out. When you find it difficult to make decisions you need to identify exactly why making decisions is so hard for you. Is it that you think you don’t have enough information, are you afraid of taking a risk and being wrong, or do you simply like to procrastinate? You can’t achieve success until you can make good decisions quickly based on your understanding of how the opportunity fits in your plans for success.

When you give up you’re done and you can’t succeed. You have to have the persistence to do the next thing that will move you closer to success. Without that persistence you can be inches from the goal line and never even realize it.

Posted in Personal Development | Print | No Comments »

8. December 2007 by Pat.

Putting up a home-based business is never easy. From planning to advertising, every aspect requires your attention. Here are ten tips that will help you on your quest to make your home-based business a success.

1. Keep tight with your schedule. Working from home is powerful - but taking a nap in the middle of the day is more alluring. Setting a tight schedule for your whole day is critical.

2. Have an office area. Home based-business does not mean you have to work on your dining table or kitchen sink. Dedicate an area solely for office work and nothing else.

3. Be professional. Dress and act as if you are inside the office and just at home when it is time for work. Be up and ready by office hours - being late or drunk is not an excuse even if it is a home-based business.

4. Advertise. People still need to know that your home-based business exists. Even if you have a website, who would know it exists if not for traditional advertising means? Be creative on leveraging traditional advertising methods such as pamphlet distribution, commercial ads, attendance to trade symposiums, and the like.

5. Familiarize yourself with tax laws. Consult with an accountant or financial professional if you are not familiar with the accompanying legal obligations and taxation calendar when running a business.

6. Check with your zoning commission. Make sure that your home-based business abides with existing zoning laws for certain classes of businesses; else consider another location where your type of business would be allowed.

7. Have a sensible business plan. Have specific financial and strategic targets for your home-based business for specific periods of time. Let these targets be milestones for your business to achieve.

8. Get on the Web. The Internet is a great equalizer for home-based businesses and large enterprises. Do not just provide information about your business or marketing blitz on your website - use it primarily to sell!

9. Do your research. Know your business, know your competition, and improve on your business offerings. “Make a better mousetrap, and the world would make a beaten path to your door” - get started on knowing and building that better mousetrap. There are plenty of avenues for research such as workshops, interviews as well as the Internet.

10. Do not get discouraged. Running a home-based business requires intestinal fortitude and the will to move on despite a disappointing starting period.. Hang in there and do all that you can to make your business the success you know it can be.

Finally, have your home-based business registered with the HM Revenue and Customs (HMRC) within the next 3 months to avoid a £100 fine. You may also need to file Form CWF1 with the tax office to inform the HMRC that you are operating as a business and have the appropriate taxes processed right away.

Posted in Home Businesses | Print | No Comments »