Don’t Start a Business Until These 7 Items are Unfinished and Understood

 Are you thinking of starting a business?How do you know when you are ready to start a business?I do not believe everyone should start a business.Now we have this culture of people wanting to be entrepreneur without knowing what it takes.

Don’t Start a Business Until These 7 Items are Unfinished and Understood

Don’t Start a Business Until These 7 Items are Unfinished and Understood

Entrepreneurs are now the new rockstars.The kids now, before they wanted to be a rockstarnow they want to be an entrepreneur because of Instagram,because of social media.They think that it's easy anyone could get started.It is simply not the case. I believe these are the top seven things what not to do when starting a business.

Don't start a business when you are desperate.

You see it's very easy to deceive ourselves and say,We're going to start this businessand we're going to make a profit in three monthsin six months, in a year.That's simply not the case.Most businesses don't make money that quickly.Yes, in some cases you do have sort of online businessesthat it's easy to turn a profit,but I'm talking about most businesses don't make moneyin the first year.In fact, they don't make any money in the first few years.- I'm broke baby.I ain't got no money.- And it requires a substantial amount of investmentin terms of time, in terms of money, to just get it going.

It is not easy to get a business going.So don't start a business when you've got no moneyand don't start a business when you're livingpaycheck to paycheck,how are you going to meet payroll?How are you going to do marketing?How are you going to get the business going?You got to cover your living expenses at the same time,cover all the overhead in the business.How are going to come up with that money? Answer the question.So don't start a business when you're desperate.

 

Don't start a business if you don't know how to close.

Don't Start a business if you don't know how to close.I'm talking about how to sell, how to influence,how to make that sale.In business, nothing happens until a sale is made.A lot of people say, Oh, I've got an idea.So fucking what?An idea doesn't mean spit.

Unless you know how to turn that idea into a productor service that people want to buy.- Shut up and take my money.- And you know how to get your product or servicein people's hand.And you know how to communicate how to closein exchange of money, it doesn't mean anything.

An idea is dime a dozen, but the ability to closethe ability to sit down with someone face to faceon the phone, on camera, in video, on social media,how do you convince and persuade someone to give you moneyin exchange for your product or service? That's the key.If you know nothing about selling,you're not qualified at the moment to start a business

Don't start a business if you don't understand the industry.

Don't start a business if don't understand the industry. I am shocked by how many entrepreneurs,when they have an idea and I ask them just a few questions.What do you know about the industry?Who is your ideal customers?How are you going to reach them?What are their frustrations?What are their goals?What qualifies you to be in this space?How much do you know them?Do you have any credibility?Do you understand what they're going throughon a daily basis?Do you understand their emotional needs?

 We'll be asking the questions old man.- Blank.They know nothing about the industry.Then I say,Why are you thinking of getting into this industry?And they say, Well, I thought I saw so and somake a lot of money doing that so I would just get into it.It's like you see an NBA player playing basketball all day,kind of doing pretty good.And they know how to shoot the hoops.I should be a basketball player.You see how idiotic that is?Do you see how idiotic that sounds?

This is not how it works.You have to have something that is truly uniquethat you bring to the marketplacethat is different from everybody else.You could add more value, you can solve a problem that's not being solved at the moment.And that's what gives you the right to start a businessin that particular industry.Your success in business is largely determinedby how well you understand your industry.

Don't start a business simply because you are sick and tired of your job, or you hate your boss.

If you are sick and tired of your job, get a different job.It doesn't mean you should start a businessjust because you don't like your supervisor.You don't like your manager.You don't like your boss.It doesn't mean you should become your own boss.- I quit!Arthur, I quit!- It doesn't make you ready.It doesn't mean you are equipped to be your own bossto be in business for yourself.It is a different game.

Now, I'm not saying don't do it.I'm saying, do you know what it takes?Don't start a business out of ego, just, Oh, you know what?I don't feel that I'm appreciated, I don't like what I do.So I'm going to go start a business.Do you have the business acumen?Do you have the right knowledge?Do you have the right skills to make a business work?No one talks about that.

Every talks about jumping off the planeand let's figure this out.- Now is not the time for fear.- Let me quit my job and let me figure this out.How are you going to pay your bills.How are you going to support your family?How are you even going to support yourself?How are you going to support your business?All the expenses, all the capital investment.Where does that come from?Thin air?You tell me.I should just, you know, get money from other peopleI could raise capital.Sure, do you know how to raise capital?Do you know how to do a pitch deck?Do you know how to talk to investors?Why would an intelligent investor even invest in you?What have you got?These are tough questions.

You better have good answers for that.Because out there the business world, it is crude.It is very, very crude.And every single day,someone is trying to put you out of businessevery single day someone's trying to kick your ass.Someone's trying to take customers away from you.Are you ready for that?Are you ready for that fight?Do you have what he takes intellectually?

Don't start a business simply because your family and friends tell you it is a good idea.

Let me break the news to you,they are lying.They are being polite.- Don't lie to me.- They say, Yeah, you know, that's a good idea.I think you'll be very successful.Yeah I think I would love a product like that.And guess what?When you're seeing your life savings into it,when you finally make that product,you go to your family and friendsand say, Hey, would you like to buy some?Oh noWhat, I thought you told me it was a great idea.I thought you were very supportive.Oh yeah. I was just being polite.You were being polite, what the hell is that?What do you mean you were being polite?Your family and friends they're not your customers.

They're your family and friends.- I run shit here, you just live here.- What you need is you need to get direct feedbackfrom the marketplace, from strangers,from people who don't know you,people don't even want to support you.Are they willing to vote with their wallet and say,Hey, I want to buy your product, I want to buy your service.Not because your family and friends, your mom, your wife,your husband, your cousin, your sister say,It's a good idea. We're going to start you off with a $500,000 investment.- You want to know if it's a good idea and not go to the bank.Try to get a loan.Here what the banker say.And they'll tell you if your idea's actually good or not.

You want them to be brutal, you want them to be honest.Show them the plan, show them your idea, see what they say.If they've got any experience at all,they will tell you.Why would they not fund your idea?Why would they not even fund you?Take that feedback.Take that constructive criticism.And you go back and you revise your plan.

This is the biggest mistake that wanna be entrepreneurs make.

And that is don't start a business thinkinghow much money you can make.That's amateur.A wise entrepreneur, an experienced entrepreneurdoesn't think about how much money I could make.No.They think about burn rate.- All you care about is money.- They think about how much money they could losebefore they go out of business, how much time they have.They got to make that work.How much time they have beforethey close the door for good.

Now you don't think about that now, do you?You think about, I'm going to make all this money.Have you ever thought about how much money you will lose?What if it doesn't work?What if it takes you way longer than you think?What if it costs you twice much as you think?What if it takes three times as long as you think?How are you going to handle that?These are very, very good questionsyou need to have answers for.Oh yeah, it's going to work in one month.You're being an idiot.- What an idiot.- It's not going to work in one month.It's not going to work in two months, it takes time.To be a good entrepreneur you have to be a realist.You have to look at the facts.You have to look at the data.You have to look at the numbers.

By the way do you know how to read financial statements?I'm curious comment below.Do you know how to negotiate?Do you know how build a team?Do you know how to raise capital?Do you know how to market?Do you know how to sell?Do you know how to handle conflicts?Do you understand strategy?Do you understand business model?Do you understand different legal entitiesthat you could take advantage of?Do you have a basic understanding of the tax lawin your country?But I've got a good idea.It's not about that.

Don't start a business unless you are willing to commit 10 to 20 years to the business.

What, 10 what are you talking about?I thought I'm going to start a businessand I'm going to exit in three to five years.Now that does happen to some people, not most people though.But going into the business,you have to think about longterm.Think about 5, 10, 15, 20 years.If you exit in five yearsand you walk away with a lot of money, good for you.But what if you don't?That 10 year period of time, that 15 year period of timeknowing the first few years,probably a good chunk of that first 10 years,you're not going to make much.It's going to be tough.You're going to face a lot of obstacles.It's going to be very, very stressful.It comes with a game and that's part of being entrepreneur.Are you ready for that?I've had many, many of those sleepless nights.I got no one to talk to.How am I going to pay the bills?How I'm going to solve this problem?How am I going to meet payroll?How am I going to pay rent?No one could help me.

No one's coming to rescue me in any way, shape or form.I had to figure it out.And I stuck through that period of time.And I kept on going and I didn't give up.But that first 10 years was not easy.It was not easy.Looking back, I'm like, if I knew this is what it takes,I don't even know if I would even start.Now of course now I enjoy the fruit of the laborright now, yes we have accomplish a decent level of success.However, I got to tell you, it was tough.It was tough as hell.And it was a very, very lonely as well.But that's the path.That's why it's not for everybody.So those are the seven things of what not to dowhen starting a business.When you should not start a business.Over the years, I've interviewed hundreds and hundredsof CEOs and founders, even billionaires distilling their knowledge and their expertiseinto simple lessons.I've put together a simple guidecalled how CEOs Build Empires.

So today you read about when if don't start a business untill these 7 items are unfinished and understood.

How To Start Your Investing.

How To SART You're Investing.

 Start Your Investment Through Mutual Funds and Brokerage

Talk to you about getting started investing. So many young people stay out of the stock market because they're intimidated by its complexity, or they think they don't have enough money to get started investing. And as a result they miss out on hundreds of thousands of dollars of potential returns over their lifetime.

You can't afford  to invest if you want to enjoy any kind of long term financial security. there's a lot of options available to you to get started no matter what your situation or understanding of the market.

You  Can Start Investing By Mutual Funds.

The first and easiest way to get started investing is mutual funds. These are typically available directly from your bank and you can start with as little as $50.

In a mutual fund, you're actually giving your money over to a fund manager who invests itin a series of stocks or other investments on your behalf.

As a result, mutual funds typically come with some higher fees, but it really takes the load off you doing the stock picking individually so it might be a good option for you. When you're selecting mutual funds, look very closely at the fees so you know exactly how much you're paying.

These fees will be listed as the MER fee, and you want to try to stay around 1%. A lot of mutual funds will have these fees as high as 3% or 4%. Stay away from those, you can't afford to have that much of your return eaten up by fees. If you have a little more money to invest, and want to pay fewer fees, your next choice is a robo-advisor. These are awesome online wealth management tools that you need about $1,000 to get started in a portfolio.

All you need to do is deposit your money, and they take care of the rest, just like a mutual fund, except for at a much lower cost. For a robo-advisor, you can typically expect to spend somewhere between 0.5% and 1% in fees. Finally, the last option to get started investing is to open your own brokerage account.

Brokerage

If you bank with a large financial institution they might be able to offer you their own brokerage account but otherwise you might have to look for an online brokerage provider. When you have a brokerage account, you are actually responsible for doing all the investing yourself. This means you have to choose your stocks and ETFs, you have to decide when to buy and sell, and your responsible for managing all your taxes and so on.

If that sounds like too much work, then the robo-advisor or the mutual funds are probably a better option for you, but if you want to be more in control of your money and pay the least amount of fees possible, then a brokerage account is the right fit.

To get started, you'll only need about $1,000 and you can begin trading right away. If you want to learn how to invest in the stock market there's plenty of different resources online and off that you could use.

How Credit Card Companies Make More Money.Customers Targeting By credit Card Companies.Which people companies seek out the most

All Info. How Credit Card Companies Make More Money. Kind Of Customers Targeting By credit Card Companies.Which people company seek out the most.

Types Of Credit Card Companies?

Well, there are two types of credit card companies. 

On one hand you have the issuers

The banks who essentially hand out the cards. You also have the networks, who process these transactions, such as Visa or MasterCard. 

American Express and some others act as both issuers and networks. One way these companies make money is by charging the retailer in the form of a transaction fee. 

This number is usually between 1% and 3%. Suppose at a given store, this number is 3%, that means if someone buys $100 worth of items using a credit card, the store keeps $97 and $3 is paid to the issuer and network. 

These few dollars may not seem like much, but over time they add up. But why would a store do this? Why would they give up precious revenue? Two reasons.

Why Stores Do This Losses By Using Credit card.

Costumer Convenience

Customer convenience. Stores are in competition with one another and need to make their experience as easy  and hassle-free as possible, or else customers will shop somewhere else. 

Number Second: Impulse shopping. 

When not paying in cash, people tend to spend more since the money spent does not feel reals. This of course is good for the store.

More spending = more revenue. This is especially true if the money doesn’t even need to be paid back right away. 

How Credit Card Companies Make Money?

Commonly Credit Card Companies Make Money By two Ways:

Number 1:Interest

Number 2: Charging From Retailer

Credit Card Companies make money By Interests

This brings us to the other way these companies make money: interest. 

This is additional money paid when the balance owed is not paid at the end of the month. 

Second Is Fees

The other way they make money is through fees. Fees for having the card. Fees for cash advances. Fees for paying late. 

What kinds of customers are they targeting? How do they make the most money?

Their main source of profit are the customers with revolving debt. For the most part, they only make minimum payments, allowing interest to be charged and build up. They’ll pay it off later, but they’re also lining the wallets of the credit card companies.

Charging From Retailer 1 - 3%

The second source of profit are the people who pay in full, all the time. The credit card companies don’t make their money from the cardholder but instead make their money here from charging the retailer 1 - 3% as a transaction fee. These types of customers aren’t a huge source of profit, but they add up. 

Like anything, there are people who exploit the system for free stuff, and there are even some people who will never pay anything.

Whom do these companies seek out the most?Who are they trying to lure in the most.

Uneducated Population About Credit Card System Works

Firstly, there is the uneducated population. Members of this group typically have little idea how the card or system works and treat the card as if it was not real money being spent. Credit card companies love them because they end up owing a lot of interest.

They Want To Bring Back Of Their Old Costumers

The second group that is targeted is composed of people who no longer use the cards because of credit card problems in the past. The companies give them lucrative and special incentives to try and bring them back. 

Ultimately, a credit card company is a business, just like a restaurant, grocery store, or manufacturer, and as long as people keep using their services, they will more than likely make money. And a lot of it too. 

US Economy Affects World's,| Worlds Biggest Economy| King Of Currencies|US Slapped Penalties On China

 US Economy Affects World's, | World's The Biggest Economy| King Of Currencies|US Slapped Penalties On China

1) World's Biggest Economy

 Let’s talk about the world’s biggest economy because it affects just about everyone. Depending on what you read the US economy is well on the way to recovery after the crisis caused by COVID-19.

The whole world is trying to get back on track. But how long that will take depends a lot on the Americans. So who really created the strong US economy before the pandemic hit?

Is the recovery starting to slow? And is inequality getting worse — not better?

2) By some measures China these days is considered the biggest economy in the world. But when you look at the value of all its goods and services the United States is still No. 1. So what is the American economy? 

It’s Silicon Valley Hollywood oil manufacturing finance. It’s pretty mixed. The US is also the most important export destination for a fifth of all countries. That’s because Americans consume a lot. So much that they’re the engine of the US economy. And it all ripples throughout the fabric of the global economy.

King Of Currencies-Dollar

Another reason the US economy matters to all of us is that the US dollar is the undisputed king of currencies. Most global transactions and trading in things like oil and gold are done in US dollars .It wasn’t always that way. Countries used to settle international transactions in gold. 

But after World War Two countries needed more flexibility to rebuild their economies and chose to peg their currencies to the dollar. That’s because the US had the most gold at the time. A strong dollar can be good or bad depending on who you are.

Japan needs the dollar to be stronger against the yen so American consumers can afford more Japanese products. But a country like Turkey would rather a weaker US currency because banks and businesses there hold a lot of debt in dollars. 

In other countries a strong dollar can fuel inflation. In Argentina that pushes up prices for basic things like food. And in the US a strong greenback makes imported goods cheaper but it can harm US manufacturers by making their goods more expensive abroad. Overall, though, the dollar is largely seen as a safe currency.

During the pandemic it actually rose. Lately the US dollar has gone up and down. That has to do with all sorts of things. Even a tweet from President Trump can help or hurt the exchange rate. But a lot of rides on how the US economy performs. So how is it doing?

Economies Are Measured Using GDP

Economies are measured using GDP. which is the total value of goods and services produced in that country over a period of time. And you can see that over the last 10 years the US economy has been growing. Last year GDP rose by just over 2%. But it took a while to get there. Like the rest of the world the US economy was devastated by the financial crisis in 2008.

President George W Bush started the clean-up shoring up banks and rescuing US companies. The Federal Reserve also played a massive role buying bonds and keeping interest rates low. And all that continued under President Barack Obama. Congress spent hundreds of billions of dollars on things like social security and tax relief.

The Longest Economic Expansion On Record

By 2009 the US had started its longest economic expansion on record. Then President Donald Trump stepped in. The economy did keep growing. But the 4-to-6% boost he promised well, that didn’t happen. Trump added his own touch. He cut regulations to make doing business easier and got Congress to pass tax cuts for American workers and corporations. The promise, there, was to help businesses  reinvest money to create jobs. But it didn’t always work that way.

A lot of those companies used those tax savings to buy back stocks and boost their value instead. Then there’s Trump’s trade policy of putting America first. He ripped up international trade deals saying they were unfair and hurt American manufacturing. And that led to a trade war.

US  Slapped Penalties On Hundreds Of Billions Of Dollars

The US slapped penalties on hundreds of billions of dollars’ worth of Chinese goods. China responded with their own. China also found ways around some of those tariffs. The main thing about Trump’s tenure was that the American public started to feel a lot better about the economy. And that had an important effect. So the economy was in good shape and the US jobs market was on fire. Then COVID-19 came along and pushed the economy off a cliff. The US economy slid 5% in the first quarter.

when it officially fell into recession. Then in the second quarter it nosedived at a record annual rate of more than 30%. The pandemic still isn’t over. But the focus now is on the economic recovery. In the third quarter of 2020 the economy bounced back a record 33%.

So Now What You Think About US Economy Tell Me In Comments,

Top 4 Strategies/Ideas To Boost Your Credit Score Instantly Overnight

If your credit score is not good enough then these are the things that you can do to help it improve. Your credit score—a three-digit number lenders use to help them decide how likely it is they'll be repaid on time if they grant you a credit card or loan—is an important factor in your financial life.

 So Today You will learn about The Top 4 Ideas To Boost Your Credit Score. exploring some tips and tricks that you can use when applying for credit cards.(light chiming music) For most people, credit cards are the best way to earn points and miles for free travel, especially with opening bonuses. However, applying for credit cards can be a difficult process, even for those who have been collecting points for years. When you get deeper into the hobby, you're likely to have a large amount of credit offered to you, so issuers can be sometimes hesitant to extend more credit to you. 

 I'm going to share my top ten tips and tricks to improve your chances when applying for credit cards. 

4 Steps To Improve Your Credit Score

When it comes to your credit score, it's important to note that this is a measure of how well you handle debt. If you don't have very much debt, or you want to live a debt-free lifestyle chances are your credit score is going to be low. 

Your credit score is important for major loans like applying for a mortgage and sometimes it's even checked by a potential employer or a potential landlord. Because your credit score can affect your job, you're housing, and your finances, it's really important to keep it as high as you possibly can.

Always Pay Bills On Time

The first is to pay all your bills in full and on time.

 If you want to maximize your score, make sure none of your debts are in collections and that you're always paying your bills on or before their due date. 

Use A Variety Of Credit

The second way to increase your credit score is to use a variety of credit. What I mean by this is someone that has student loans, credit cards, a car loan, and a mortgage, will typically have a higher score than someone that only has credit cards. It might seem crazy to take on more debt in order to boost your credit score, but it's really effective. If your credit score is low and all you have is credit cards, maybe apply for a line of creditor a personal loan at your bank and start using that. The credit variety in your credit profile will help boost your credit score. 

Keep Credit Utilization Low

The third way to boost your credit score is to keep your credit utilization low. What I mean by this is to not use too much of the credit that's available to you. I know this seems counterintuitive after the first two points but being focused on giving you more debt in order to increase your credit score, but what lenders really want to see is that they can give you tons of credit and you won't use very much of it. You should try to keep your credit utilization below 1/3 of the total credit you have allotted to you. This means, have a credit card with a $3,000limit, try never to carry balance greater than $1,000on the card. If you're living maxed out on all your loans and lines of credit and credit cards, this could be one of the reasons your credit score is low, and paying down those debts to reduce your credit utilization will help increase your credit score. 

You Need To Establish A Better Credit History

Finally, the last way to increase your credit score is to just be patient. It takes time to build good credit and it also takes time to repair bad credit. If you're in your early 20s and your credit history is only a few years, your score might be low just because of that. In two or three years of keeping up with your bills and paying down your debts, you'll see it group.

 If you're in your later 20s and early30s you should have a better established credit history, but if you missed a few payments or defaulted on a loan, this could have damaged it in the past. Keep paying down your debts and paying your bills and it will gradually go up overtime. Be patient with your credit score, just like any other financial goal building it up takes time.

 

Increase Your Budget By Credit Card Tips. More Benefits From Your Credit Card.

IF you want to more than a common credit card so here is a Tip and ideas by which you can Create Budget By Credit Card By Rewards, Cash Backs, Pay Off, And Compare your cards. So Let's Start. 

Use Credit Cards To Increase Money In Your Budget And Benefits.

I do have some ways that you can use credit cards to put more money in your budget.

 The first thing you can do is choose the right credit card. 

What I mean by that is to choose a credit card that fits both you're spending and your financial goals. Often credit cards will offer you more cash back or rewards depending on what store you shop at, or what kind of purchases you make. Such as recurring bill payments or groceries or restaurants.

Look at what categories where you spend the most money in your budget and determine what credit card would best fit your spending profile.

Whether you there you want rewards on Your Credit Card.

The second thing is to l whether you there you want rewards, travel points, or cashback credit card. If you want to have a holiday every year and you want a bit of help with that, choose travel rewards credit card.

Choose Always Cash Back Credit Card.

If you're really trying to save more money choose a cash-back credit card that can help boost your savings account. It all comes down to end goal you're trying to achieve when you're looking for the right credit card for you. what

Compare Your Credit Card.

One of the websites I used to compare credit cards is Rate Hub. And this is not a sponsored post or anything for them, I just really love using their calculators. 

You can put your income and yours pending in and it will actually give you a selection of different credit cards that are good for you, and you can compare them based on their annual fees and rewards options and so on.

The second thing you want to do is maximize the spending on your credit card of choice.

You Need To More Than One Or Two Credit Cards?

 Plenty of people have five or six or more credit cards, and there's really no need for that. You don't actually need to have more than two credit cards: one for your regular spending, and one in case of emergencies, or if your wallet is stolen and you lose that other credit card. So keep one no-fee card locked in your sock drawer in case of emergencies, and then use your other credit card as your primary spending card.

 If you can manage using credit cards responsibly, make every purchase you can on your credit card in order to maximize the rewards. So what you should do is automate all your bills to his credit card, buy all your groceries on this credit card, everything that you can to one credit card in order to get the most rewards from it. 

Pay off the balance in full every month

The next most important tip is to pay off the balance in full every month. If you're carrying a balance on your credit cards chances are the interest you're going to pay is worth more than any rewards could have earned. 

Typically, interest on credit is20% and there's no way any credit card company is giving you 20%in rewards. So its really important that you pay off the balance in full every month so you don't accrue interest on your pay off the balance in full every month

Calculate The Number Of Rewards

If your card has an annual fee, don't shy away from it. It might still be worth it on the rewards. Calculate the number of rewards you expect to get over the course of the year based on your spending and determine how much more than the annual fee it is for the card. 

Finally, the way to get the most out of your credit cards is to actually use their wards they get for you. If you have a cash-back credit card make sure those cash-back rewards are going directly into your savings account. 

If you're using travel rewards credit card make sure you actually take a trip with it and take advantage of the other perks that it might have such as baggage loss insurance or access to airport lounges having a credit card is really convenient and good for your credit score but it can also add more to your budget if you maximize the rewards.

How to Get Approved For Any Credit Card  10 Strategies

Exploring some Strategies/tricks that you can use when applying for credit cards. For most people,   credit cards are the best way to earn points and miles for free travel, especially with opening bonuses.  However, applying for credit cards can be a difficult process, even for those who have been collecting  points for years. 

When you get deeper into the hobby, you're likely to have a large amount of credit offered to you, so issuers can be sometimes hesitant to extend more credit to you. 

Steps To Improve Chances to take Your Credit Card

I'm going to share my top ten tips and tricks to improve your chances when applying for credit cards. 

You Need To Understand Your Credit Score And History

Understand your credit score and history. It used to be pretty tough to get a hold of your credit score. However, nowadays, it's easier than ever. Most credit card issuers provide you access to your score. 

There's also free sites like Credit Karma, Credit Sesame, and  Quizzes, which should give you an idea of your score. Just keep in mind that most of these services are pulling from one of the three credit bureaus, so you may want to check in with all three. 

Lastly, you can request a full credit report every year from annualcreditreport.com, which includes data from all three major credit bureaus. I recommend reviewing your credit report every year to make sure that you don't have any misreported accounts or discrepancies. 

Search for the best available offer when applying for a specific card

You need Search for the best available offer when applying for a card. Make sure you do a quick Google search to see if there are any better offers for the card. It's common for issuers to have different bonus offers depending on the landing page, so it pays to look around for the best offer. 

Take a screenshot of your offer when applying.

 Take a screenshot of your offer when applying. This not only helps if you don't receive your offer and need to contact the issuer, but also helps you to remember the terms and conditions for the bonus. Most bonuses will require you to spend a certain amount within the specific time period, so it's helpful having a record of it. 

State your entire income.

State your entire income. This is an area where people often short change themselves. Make sure you report your total income from all sources. I know many of you have side hustles and gigs. Don't hesitate to include the income that you earn from these sources in your total. 

I definitely advise against misrepresenting the information in any way. You just want to make sure that you're representing the big picture and improving the odds for an approval. 

Apply for multiple cards at once

Apply for multiple cards at once. This is a common trick used by the points community and is sometimes referred to as an app-o- rama or AOR. If you're looking to apply for two or more cards at once, it's better to apply for the cards on the same day, preferably around the same time. 

The reason for doing this is that the issuers will not see the credit inquiry from the other issuers if you apply at the same time. Keep in mind that you shouldn't use this trick to apply for cards from the same issuer, as they will definitely see your multiple applications. But if you were to apply for a card from American Express and one from Capital One on the same day, it should work just fine. Also, make sure your credit score is high as you'll like to see a slight drop after the multiple credit inquiries are processed. 

 Be mindful of your application dates and credit inquiries.

Be mindful of your application dates and credit inquiries. The general recommendation is to wait at least 90days between new credit card applications or app-o-ramas Of course, there are other factors to consider like Chase 5/24 rule. For more information, check out our Chase Ultimate Rewards. 

Call the reconsideration line if you're not approved 

Call the reconsideration line if you're not approved. If you're not immediately approved for a card, you may want to consider calling the issuer'reconsideration line. Just be sure to be polite and respectful. 

When I call these lines, I usually say that I wanted to call in and see if there was any additional information needed to get my application approved. The only caveat is business cards. I would not call the reconsideration line until you get an actual denial as they often have a more comprehensive review and approval process.

Consider transferring your available credit

 Consider transferring your available credit. I found that issuers are sometimes reluctant to give you additional credit if you already have a lot of available credit with them.

 When speaking to a rep on the reconsideration line, you may want to consider offering to move some of your available credit to the new card if they're willing to approve you. I've done this several times and it seems to work really well, especially when I've had a premium card with a huge available credit limit that I never planned to utilize. 

Consider downgrading cards or changing them to other products. 

 Consider downgrading cards or changing them to other products. This tactic won't allow you to get a bonus, but it can be useful when you want to get rid of a card with a high annual fee. Instead of simply cancelling the card, you may want to opt to downgrade or convert it to a free version of the card. 

An example would be converting a Chase Sapphire card to freedom card, or an American Express charge card to an Everyday card. This not only allows you to retain your points, but also avoids any negative impact on the age of your accounts on your credit history.

Don't limit yourself to personal cards

Don't limit yourself to personal cards. Many of you are eligible for business cards, even if you don't have a full-blown business. Things like selling items online, performing a service, or consulting, can make you eligible for a business credit card. 

Just make sure you're transparent about the income that you earn. You don't need to have a huge income stream for them to approve you, and it's better to be truthful and honest to avoid any audits.

Just About My Experiences on Real States

This article is made just like is If someone is taughing with another person about the estate business and ideas of investing money.

Generating passive Income and creating wealth in real estate.

My full-time focus is creating businesses,building businesses, selling businesses..Just like most entrepreneurs, I got into this game because I wanted enough passive income and wealth to live life on my own terms.And for most of my young life, I though that vehicle was going to be real estate.And I still am a real estate investor.

In fact, most of the very successful people that I know,it doesn't matter if they're worth $100 millionor a million dollars, most people have some sortof a holding in real estate, because it's just a provenasset class.

Because real estate holds its value really welland it tends to spit off cash flow.So, as you are exploring the path that you're on,it's important to say, do I want this because I wannabe a passive investor who gets passive income?Or do I want to make real estate my business?

They're two different approaches, if you watch HGTVor if you've got a friend who flips houses,real estate is their business.Thats their full focus.They make money in real estate, but it's not passive income.

They've very active in that business and that's a great approach because if someone is active in real estate,they're gonna find great deals.They're gonna have a head start on everybody else.They"re gonna know the bankers.They're gonna know all of the subcontractors that they'll need.They'll have an expertise that's gives them an advantageover everybody else.So, if you want to make real estate your business,that's one approach.The other approach is to say, what I'm really afterhere is passive income.

And I don't want to be a house flipper and I don't wantto be sourcing deals all the time.If that's your goal, then your set of strategiesis going to be different.So it's important to address that up front,because a lot of investors or entrepreneurs get into the wrong vehicle thinking that eventually they'll start to hit their goal withoutever addressing what their goal is.If you know what it is up front we can get therea lot faster.

You can do it a lot ways, but I like being the directinvestor, where I own and control the property directly.Because when you're a direct investor you don't leaveyourself susceptible to three major problems.

Number one, you might be investing with a crook.Okay, and there's no shortage of crooks in every industryin every part of the world, right?That can simply rip you off.But number two, assuming they're honest, you mightbe investing with an idiot.Okay, and just because they're so stupid you'll lose your money right?So, assuming they're honest and competent,you pass those two hurdles, the third problem is they takea huge management fee off the top for managing the deal.And so, when you're a direct investor, you eliminatemost of those problems.You do create a new problem though.

The new problem is more work.You've gotta be more engaged.You've gotta be more involved.- Now if you're first starting out,it can feel a little bit intimidating to say,I don't want to make this my full businessright out of the gate.Well Jason's strategy is incredibly simple,he very publicly on his podcast and in his content says,that single family houses are the most proven asset classin the world.His entire strategy is simply to investin single family houses in good marketsand get them rented.And hold them for a really really long period of time.And have a little bit of cashflow on each houseand go do the next one.

Recently on the 1% Podcast, we did an interview with somebody names Todd Dexheimer.And his approach was exactly the same.He realized that when he invested in single family houseshe was making just as much moneyas his teaching job and he went, wait a minute.I think maybe I should become a full-time real estateinvestor, but that's the formula that has createda lot of full-time real estate investors.Going all in on the business which is acquiringsmall deals, single family houses, duplexes,and then moving onto bigger deals once you have enoughcashflow to be able to live life on your own termsand you're a full-time real estate businesspersonor real estate investor.There's other ways to do this too.I want you to meet my friend Tom.Tom is an orthopedic surgeon here in Austin, Texas.Very very successful, very wealthy.But he was working 80-hour weeks when he started investingin real estate.So he knew that he couldn't go out and sourcedeal after deal after deal after deal.He had to find one good one, one good one.And he was doing it nights and weekendsand looking for the passive income side of this.And I want you to watch this story of Tom Sharing,how he found the first dealand how it then tipped the scalesinto allowing him to look for more deals after that.Watch this.You're coming out of school, today most doctorsare covered in debt.I mean they're just completely covered in it.And most people don't know that, they just knowhow much doctors make.So everybody thinks doctors are rich.You come out probably have student debt I'm assuming,you're working 80-100 hours a week,how did you have the excess to start doing this?- I passion to think. (laughs)- Did you say passion? (laughs)- Yeah, had to be passion, stupidity, one of the two.And so I really wanted this now.I was actually building my practice and loving what I did.I'm a orthopedic surgeon, I'm in sports medicine.I was a frustrated athlete.So I'm perfect, I run with my people.But, on the money side I really enjoyed the real estate.I love buildings and I love the developmentand construction process and I love every part about it.So, my, the reason I started small was it was in eveningsand weekends, truly evenings and weekends.One time I was reading, if you listeners rememberthis thing called a newspaper.Back in the day, on Sundays, there was a classified sectionand it had real estate in the back.And there was a little section, apartments and condos.It was down in the Texas, down in the University of Texasarea and I was zeroed in on student housing.And I read an ad and I told my wife, I said,"I'm buying this tomorrow."She said, "How do you know?"I said, "Look, I've been in this market,"I know it like the back of my hand."Somebody[s either underpriced this thingor there's something badly wrong with it.So I was seeing patients in my office.Saw a patient.Said I'll be right back, slipped out the back door,drove down eight blocks, quick went throughthe place, made an offer, got it acceptedand came back and kept seeing patients.(Ryan laughs)So that's how we did it.Mostly weekends, morning.Weekends, early mornings, in the evenings.And then as my real estate income started gettingmore prolific, I was ale to sort of cut back on daysand that scale just kinda changed like this.- And you're still practicing today, correct?- I am, I did surgery this morning.(Ryan laughs)And spreadsheets this afternoon.- The beautiful thing to this approach is Tom was lookingnights and weekends for his first dealand then in between surgeries, went in and acquiredhis first deal, which gave him enough passive incometo focus a little bit more time on building real wealth.Because it doesn't matter how much moneyyou're making from your job, if you don't own somethingthat can go up in value over time.If you don't own something that you control,then you can't get rich.You don't get rich on salary.You get rich on ownership.You get rich on owning a business.You get rich on owning real estate.You get rich owning a piece of business,sometimes called stock investing.And so Tom did that.He went and looked at where the deals were.Got really good at one market.He knew he didn't have a ton of time to gobuy up a bunch of single family houses.So he bought one deal that set the pathfor the rest of his career.Now today, since I am not looking at deal after dealafter deal, what I do look for is people like Tomand people like Jason and people who do have the expertisewhere it is their business to be in real estate.And then I serve as just the investor in that dealand I take a piece of the action.So this is where I like to live.

I now make my money in business.Or some people make their money at their job.Or some people make their money flipping houses,but then you get the wealth and the cashflowfrom, in my case, investing in the peoplewho make this their full-time thing.So that's people who are buying up apartment buildingsor who are building new projectsand then taking money from investorsand paying out a portion of the cashflowOne of my best friends here in Austin,his name is J.P.I like to joke that he owns half of Texas.J.P., I call him the $800 Million Man.

He controls about $800 million worth of real estate.And he sits in that chair where he has all this deal flowand then he raises money from investors like meand then he does the project and he pays out his investors.Very interesting thing about J.P. though.He got started in his late 30s.He got started with no background in real estate.It was his second career and he was going in a wholenew direction.So ignore the $800 million that I slap on his nameand look at the man, who a couple decades agowas starting over from nothing.This clip is gonna give a lot of hope to those of youwho are just starting your journeyare wondering, did I miss it?Are my best days behind me?Watch what happened with J.P."Do you talk about how much of a portfolio you have?- 

My portfolio is about $800 million in real estateunder management.- Wow, when did the first deal come about?- So my first deal came about,I actually flipped a house in Austin, Texas.And I worked my ass off and I made $12,000and I was thrilled that I had made #12,000.It was the confidence that I had that maybe I can do this.And it wasn't, now a days $12,000 doesn't soundlike a lot but at the time it was a very, very meaningfulthat I actually had gone from beginning, middle to end.And that took a long time to get to that place.- How long did it take you to flip that?- 8 months of hard work.- Oh, wow.- I was probably working for $8 an hour.But it didn't matter because it was symbolicof my new life and some completion and some successin this new direction.So here I am.Now I'm 32-33 making $6/$8 an hour flipping homesin Austin, Texas.- Were you still flipping for a couple yearsfor like pennies?Was it a couple of years of grit and figuring it out?- I was so faking it.So faking it, like broking a deal here.Definitely, there was a lot of that going on.And then I got my first apartment projectand it as a small one.And it was really a rough building,but it got me started into something bigger.And it was my first break.

One Click Buying| Online Products|The Real Estates|Skilled Courses|Business|Bezos Earnings

Jeff Bezos Earnings

How much do you think Jeff Bezos makes per day? A hundred thousand dollars? How about a million dollars? A million dollars a day means 365 million dollars a year. But in 2019, Bezos earned 39.2 billion dollars, which means, if you divide it into the number of days in a year, that will amount to 107 million dollars every 24 hours. Isn't that insane. But that's not by accident because rich people are focused on buying assets.

In fact, some people are in so much debt that they get poorer every day since interest is so high. 

One Click Buying

In 1999, Jeff Bezos filed a patent for a method of ordering items online. It's called One Click Buying. It's a technique that allows the customers to make a purchase with the payment information that they have used previously and saved.

 In other words, Instead of manually inputting billing and shipping information for a purchase every single time, a user can use one-click buying by using a predefined address and credit card number to purchase the item. When you buy an app from the Apple Store, you don't re-enter your credit information.

 You simply double-click on the side button and the software will automatically use your saved credit card. And until 2017, apple and every other company that used this technique paid a small royalty to Jeff Bezos for using his innovation. It might sound silly to you, but that's how the world works.

 In order to encourage innovation, governments have set up a system of patents. Since you have worked so hard to innovate a new product or a service, you will be granted an exclusive 20-year patent where no one is legally allowed to use it except you or the people you have given permission.

 Skilled course

 It's not an asset in the traditional meaning, but it is in many ways. Having a skill that's always in demand is a constant stream of income, even if that takes some of your time. 

Take an example of surgeons, it's a highly complex skill that requires years of education and training, however on the other side it means, there isn't much competition and means that you can charge a premium for your service, that's why a lot of surgeons are actually millionaires since they are paid generously. Of course that applies to other professions such as lowers, physicians and so on. 

However, with the rise of the internet, skills such as coding, online sales, and programming languages are becoming vital and can be self-thought at home. It's a perfect option for those who are at the beginning of building their wealth. If you don't have enough to invest in the stock market, you can invest in acquiring more skills that would potentially generate much more in the long run.

Online Products 

 Like Music. Is super difficult to come up with good music. However, once you do it, it can continuously generate income. Take an example of Eminem; for the past 20 years, he has been at the top of the music industry. He has released, such as I am not afraid, is still listened by lots of people across the world even though it was released back in 2010. A However the introduction of Spotify and Apple Music, the artists have gained extra streams of income. However, you are not limited to music. 

Online products are becoming more and more popular such as courses, presets, apps, software, and a lot more.

Businesses

The best investment you can ever make is in a thriving business. What makes a business different from all other assets is that it constantly produces something, be it a service or a product. They constantly improve their products or come up with new ones to stay ahead of their competitors.

Having a stake in a valuable business is the best way to keep growing your wealth and generate cash flow. Of course, for most people, that's not an option because buying a piece of a business simply too expensive, even if we are talking about a corner shop. However, the financial system we have built over the centuries is so advanced that businesses are broken down into millions if not billions of small pieces which allows almost anyone to own a tiny slice of any multibillion dollar company by investing in the stock market. If you want to know more about the stock market, check out our video on how to buy a stock which link y

  The Real Estates

Which is probably most peoples favorite type of asset. And that's not by accident, you can touch it, feel, and it fulfills one of the basic human needs - shelter, which means there is almost always a demand for it.

Rental property is probably the best passive income asset you can have. Of course, that doesn't mean it doesn't require any hustle and capital, but it's manageable to a certain degree. What determines the quality of real estate is its location. Quite often, if it is placed not in the most suitable location, it can turn into a huge liability where you can't rent it out but still have to pay the utilities.

 I personally know people who have inherited properties where they don't want to live but also can't rent out since it's not a popular destination, but they still have to pay the bills to keep the house free of debt. However, if it's in a desirable place, it will easily get rented out even if it's not in the best condition. But you know what's a much better asset than Real Estate.