How to Become the 1% (It’s Easier Than You Think)

Never mind the naysayers. Earning a high income or achieving wealth is not out of reach. June 14, 2019 6 min read This story originally appeared on fee.org This summer, thousands of moms and dads will load their children onto buses and hug them goodbye as they head off to camp to pursue their childhood dreams. Many of these kids will devote their time to practicing their curveballs and base stealing on the diamond. Undoubtedly, all of them will be dreaming of becoming the next Mike Trout or Christian Yelich. But what are the odds that the kid sitting in the fourth row of that bus will actually make it to the big leagues? Slim, yet this kid in the fourth row is joyfully sent off to camp every year. Why is that? Because playing the game is fun, and there are lessons to be learned from goals that seem […]

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Be Like Porsche: Invent Something New

“There is nothing new under the sun.” In a sense, King Solomon was right. Everything “new” we create is merely combination of existing materials. But not every combination of existing matter has been created. And inventions crop up all the time that inspire a new generation of tech. Today we’re going to look at one inspiring story. Porsche. How did Porsche become known as the premier luxury brand they are today? Was it merely the iconic Porsche Panamera? Print off your spreadsheets cause we’re going to look at how they’ve changed the business of luxury items forever. Form and Function I just learned a new word today. “Horological.” It means the study of the measurement of time. Luxury car companies like to contract with watchmakers to make car inspired watches. But few have gotten into the business of horology like Porsche. In fact, they changed the wristwatch industry entirely. How? […]

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The Psychology of Money and Wealth with Ramit Sethi

Pat Flynn: So I like to mix things up here on the Smart Passive Income Podcast. This is a very different kind of episode, you’re going to be transported to the city of New York. I actually conducted a walking interview, through the city of New York, with a good friend of mine, Ramit Sethi. I was in New York for some interviews and to meet some people and some retailers, related to the SwitchPod. And I was there with Caleb and he said, why don’t we just try this thing? And so we did it, it’s a learning process. You’ll hear at the beginning of the episode, my mic was a little bit hot because I was holding it close to me. You’ll also probably hear how cold I was. I was losing my breath a little bit, because it was twenty-five degrees Fahrenheit. Which for me, being from […]

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12 Ways That Writers, Speakers and Experts Can Make Money as Key People of Influence

Information and inspiration are valuable commodities in the entrepreneurial world. May 28, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. In every industry, there are Key People of Influence. Their names come up in conversation, they attract opportunities, they make more money and have more fun.  Key People of Influence (KPIs) are different from traditional Influencers associated with “influencer marketing.” Influencers focus on increasing their follower count on social media and aren’t taken seriously unless they have over 100,000 followers. In some industries, it takes a million followers to be considered an influencer. For an influencer,  income comes when brands pay to promote products to their followers.  Key People of Influence typically have a smaller but more respected profile; people know who they are and are clear about their value. Some Key People of Influence have just a few thousand high-quality followers while others are a little […]

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Take the Fork in the Road: Come Up With Awesome Business Ideas

Most people choose left or right when they come to a fork in the road. And you could just follow everyone else. Or you could just take the fork and do something with it. This is what business building is like. It’s looking at what other people aren’t doing and doing that. But how do you get from, no clue to successful idea? Do you pull a rabbit out of a hat? Shuffle a deck of cards? Today we’re going to give you a small map you can follow to getting to your best business ideas. 1. Take Note Like the illustration above, you can easily find out where people have gone in the past. With the advent of the internet, this has become even easier. You can easily find case studies online. Look at the niche you’re interested in and find out what startups other Entrepreneurs have done. Take […]

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4 Lessons From an Entrepreneur Who Became a Self-Made Billionaire Before Turning 40

Bhavin Turakhia and his brother Divyank started their billion-dollar journey with a $375 loan. April 16, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Recently I had the pleasure of spending time with self-made billionaire Bhavin Turakhia. Bhavin is 39 years old, he was born in India to middle-class parents and has built and sold two companies for more than $1 billion.  He and his brother Divyank launched their first tech venture, Directi, with a $375 loan from their father in 1998. They sold four of their web presence companies — BigRock, LogicBoxes, ResellerClub, and Webhosting.info — to Nasdaq-listed web-hosting firm Endurance International Group, for $160 million in 2014. The brothers’ next venture was an adtech business called Media.net that sold for $900 million less than seven years after its launch.  What sets Turakhia apart from most technology entrepreneurs operating at this scale is that he has […]

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5 Steps to Making a Million Dollars or More a Year

The secrets to achieving this seemingly elusive goal are far more systematic than you might think. April 16, 2019 11 min read Opinions expressed by Entrepreneur contributors are their own. Want to become a millionaire? Better yet, how about making a million dollars per year? Maybe more? If that’s something you’re reaching for, join the club. It’s a goal sought after by countless souls on the planet. In fact, one study conducted by TD Ameritrade discovered that 53% of millennials expect to become millionaires in their lifetimes. The question is, how realistic is that dream?  Clearly, without a plan, there’s not much hope for anyone looking to make a small fortune or hit any big goal for that matter. But seven percent of millennials surveyed in that study think they’ll hit that illustrious 7-figure mark by the time they turn 30. Can they actually do it? Whether most people think it’s […]

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How to Become a Professional Fortnite Player

Pro gamer Nick ‘Marksman’ Overton explains how to make money and have fun as he prepares for the Newegg + CLG Fortnite Challenge. April 8, 2019 5 min read Did your parents ever tell that video games would rot your brain? Did they also mention that video games could also make you fabulously wealthy? Nick Overton makes a killing, literally and figuratively, as a professional Fortnite player. Last year, the 27 year old from Iowa better known in gaming circles as “Marksman” left a long trail of dead digital competitors in his wake — and made $500,000 in the process. Entrepreneur caught up with the sharp-eyed assassin in advance of his appearance with other members of his esports team Counter Logic Gaming at the Newegg + CLG Fortnite Challenge, a Fortnite event being held at The Hulu Theater at MSG in New York City on April 24. The event, free to […]

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How to use low stress jobs to bootstrap your business

After a stressful 9-hour shift at your “non low stress job”, and an almost as long but equally stressful commute home, you make it to the table in time for dinner (barely). Post dinner, with a belly full of food and a mind racing with thoughts about the work you left unfinished at your office, you realize now is the only free time you have to work on your side hustle.   You’re struck with guilt.   As much as you love the project you’re working on, and as much as you dream to have it become MORE than just a hustle one day… tonight you’re tired. You’ve been going since 6:30 am and your brain and body just wants to Netflix-n’-chill. But…isn’t hustle and extra hours what it takes to “make it” in building your biz?   There are certainly enough quotes plastered all over the internet reinforcing this […]

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Passive Income & Building A “Perennial” Business (FS313)

As a business owner and soon-to-be mother of two, I’d love to share what it’s been like to design a passive income business that has supported my family and family life over the past 10 years. I still remember the week before I got married… I was working hard on a client project, and suddenly I had to put in a ton of overtime to get it launched when timelines changed and a contractor backed out. It was stressful, and I vowed that I’d find a way to make my business support my life, not the other way around. Fast forward a few years later… My husband joined the business. Now all of our income was dependent on the business. We decided to start our family, phased out all client-facing work and moved to digital products entirely. There was a slight dip in income that year, but we re-calibrated. Our […]

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This Is the Living Wage You Need in All 50 States

March 19, 2019 15 min read This story originally appeared on GOBankingRates Making a livable wage can be a lifelong struggle. The mounting costs of housing and basic necessities can quickly add up, leaving you scraping to make ends meet rather than saving and building wealth. And depending on where you call home, that situation can be considerably worse. That’s why GOBankingRates conducted a study to identify the annual living wage needed to live comfortably in each of the 50 states, revealing that even if you’re comfortably middle class in one region, that doesn’t mean you won’t be living paycheck to paycheck in another. Not to be confused with the minimum wage, we define the “living wage” as the income you need to cover necessary and discretionary expenses while still contributing to savings. Using data from the Bureau of Labor Statistics and the 50/30/20 budgeting rule — which allocates 50 percent of your […]

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A $12 Trillion Race Is on for the Financial Services Industry. Here’s How to Win It.

The financial services industry has a huge opportunity (and challenge) to face in the next ten years. March 7, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. According to Orion Advisor Services, $12 trillion of business owner wealth is expected to transfer during the next ten years in the United States. This makes it one of the most significant opportunities for the financial services industry in a generation — but also one of the most challenging.  Business owners have been ignored for the most part by the marketing efforts of financial services firms. For the past 50 years, asset managers, wealth advisors and insurers have spent the majority of their efforts on marketing to the so-called “wealthy affluent” and corporations and their officers. And the unique behavior patterns, retirement goals, balanced planning needs, and risk mitigation strategies that business owners have are truly different than those of the “wealthy […]

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Innovations in the Video Game Industry Entrepreneurs Need to Know About

Video games are for kids and neckbeards who stream on Twitch, right? $18.4 billion says otherwise. Today, the video game industry is where innovation is happening. It’s where millions of tech enthusiasts gather in offices and garages and tinker with code, machines, parts, etc. These guys push computing technology to its limit. What’s the benefit to entrepreneurs and business owners? Tools. Productivity tools, advertising, etc. Today we’re going to talk about the video game innovations that could change the way you run your business. Let’s side-scroll onward. 1. Artificial Intelligence I remember when the cutting-edge game Deus Ex came out in 2000. I read a review of the game. It claimed the AI was so advanced that if you used a silenced weapon while standing over a ledge, the guards below would react to the shells falling from your gun. This was utter B.S. Not artificial intelligence in the slightest. […]

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Invitations in the Video Game Industry Entrepreneurs Need to Know About

Video games are for kids and neckbeards who stream on Twitch, right? $18.4 billion says otherwise. Today, the video game industry is where innovation is happening. It’s where millions of tech enthusiasts gather in offices and garages and tinker with code, machines, parts, etc. These guys push computing technology to its limit. What’s the benefit to entrepreneurs and business owners? Tools. Productivity tools, advertising, etc. Today we’re going to talk about the video game innovations that could change the way you run your business. Let’s side-scroll onward. 1. Artificial Intelligence I remember when the cutting-edge game Deus Ex came out in 2000. I read a review of the game. It claimed the AI was so advanced that if you used a silenced weapon while standing over a ledge, the guards below would react to the shells falling from your gun. This was utter B.S. Not artificial intelligence in the slightest. […]

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This Billionaire Says Silicon Valley Is a ‘Train Wreck’

Salesforce co-founder Marc Benioff shared his concern about inequality in San Francisco January 31, 2019 2 min read Last week, Oxfam International released its annual report which found that altogether, the wealth of the world’s 26 wealthiest people hit $1.4 trillion in 2018, which is as much as the total wealth of the 3.8 billion poorest people. Let that sink in: 26 people have the same amount of money as 3.8 billion. The study was published ahead of the start of the World Economic Forum in Davos, Switzerland, which is attended by some of the world’s most high-profile business leaders and policymakers. In 2018, the average speaker at Davos had a net worth of $414.3 million. In an interview with CNBC at the Davos, Salesforce co-founder and CEO Marc Benioff —  who has a net worth of $6.4 billion and who was in the news in September for buying Time […]

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3 Steps to Finally Charge What You’re Actually Worth

You’re at a cocktail party. Someone approaches you and says: “Hey, I hear you’re a _____ and you’ve do _____ for a living. I have this problem I need help with. It’s right up your alley. Here’s my question:___________________?” What do you do? Whip out your Freshbooks Mobile App and crush out an invoice for the soon to be rendered services? Of course you don’t. This is what happens: A spark lights in your gut. “Someone just showed interest in my passion project!” Your posture shifts. Spine tingles. Pupils contract. This is your element. This is your moment. THIS IS WHAT YOU’VE BEEN WAITING FOR! You confidently launch into conversation… …and vomit free advice all over your new friend. Contrary to the setup, this post is not going to discuss the how and why of giving free advice. Nor will it be about the Freshbooks app’s ability to seamlessly invoice […]

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7 Bad Habits of Successful Business People

Just because you’re successful, doesn’t mean you are perfect. In fact, we’re all walking around with some sort of self-doubt or imperfection. We all have a bad habit or two we need to break. If you want to be successful, you need to be constantly reaching forward toward improvement. The sad fact is that most people who attempt to startup a business fail precisely because they fail to recognize their flaws. This is why today we’re going to illuminate some flaws even the most successful business people fall prey to. So let’s dig in and make some corrections. 1. Failing to Delegate It’s easy to take on everything on your own shoulders. Especially if you created your business all by yourself and now you’re taking on employees, it’s difficult to let go of the reigns. Just because you’re successful, doesn’t mean you are perfect. In fact, we’re all walking around […]

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What to Do When the Money Slows Down

It happens to the best of us. It happens to everyone, even if you aren’t the best. Sometimes you feel like you can’t be stopped. And then suddenly, without warning, your income ceases to be what it was. You have no clue as to why. It just happened. There is no other way for you to explain it. So what do you do when the money slows down or even stops? Keep reading for a few tips. 1. Watch Your Eggs Never, ever, put all of your eggs into a single basket. This is the first think everyone should learn, no matter what they’re doing to make money. If you’ve ever talking to anyone about investing, you probably heard the term “diversify your portfolio“. And this is something you should do in all aspects of your life. Not just investing. If you’re building affiliate marketing websites, then now is the […]

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The Key to Achieving a Comfortable Lifestyle and Saving More Money

If you’re trying to make extra money and cover basic needs, consider one of these tips. January 21, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Brian Tracy explains a few ways to take care of your family with money.  Tracy offers a few tips on how to increase your family’s income, so you may properly cover the expenses of clothing, housing, schooling, entertainment and your own retirement savings. If you are able to properly anticipate these costs, you can improve your quality of life.  Some of these tips include starting a side business. At times, one stream of income is not enough to meet all basic needs — you may need another source of self-generated income to help cover basics and cover other expenses. Other money-making tips include investing in real estate. If you are trying to make a profit, you […]

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3 Types of Commercial Loans for Small Businesses

3 Types of Commercial Loans for Small Businesses Ben Mattice October 25, 2018 Your business should be an ever-expanding venture. But only 53% of small businesses said they planned to grow in the year 2018. Why are so many businesses either stale or even failing? The answer to that is most likely multifactorial. But the number one factor is fear. Fear of failure, fear of trying new things, and fear of taking risks. One of those risks includes taking out a loan to expand their business. You might have taken out a loan when you started your business. It’s common and acceptable to do this. But taking out a loan to expand your business? This is an oft-overlooked strategy. If you’re thinking of taking out a commercial loan for your business, you’re probably wondering what loans are at your disposal. Here are the best ones for small businesses. 1. Short-Term Loans […]

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