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10 Sleeping Habits of The Super Successful

The daily schedule of people plays a significant role in determining their success. Their sleep habits are an important part of that schedule and significantly affect their success. In this post, I share with you 10 sleeping habits of the super successful.

Sleep isn’t just something we spend a lot of time doing. It’s also something we spend a lot of time thinking about. Sleep deprivation can cause a variety of problems that can negatively affect your productivity, leading to problems that can range from concentration issues to depression.

A question often asked is, what is the right amount of sleep? The traditional answer is somewhere between seven and nine hours per night for a healthy adult. However, some experts argue that anything more than seven hours is unhealthy. It honestly comes down to figuring out what works best for your mind and body before building a schedule around it. All in all, we all know that sleep is very important!

As researchers have learned more about its purpose, the importance of getting a good night’s sleep becomes even clearer. A new study shows that there’s a difference between sleep that’s long but interrupted and sleep that’s short but sound. As you might guess, it’s better for the brain to sleep for a shorter number of uninterrupted hours than a longer number of fitful ones.

For successful entrepreneurs, managing their sleeping schedule is extremely important. The better they manage their sleep schedule, the more work they can get done and the healthier they can be. Here are 10 sleeping habits of the super successful:

1. They Stop Eating Three Hours Before Bedtime

If you’re eating your biggest meal at night or if you continue to snack until bedtime, you are more likely to have broken or disjointed sleep. After you eat, your body needs to work hard to digest it, which can hinder your ability to wind down for bed. Worst of all, if you’re eating sugary foods at night, the negative effects on your blood sugar levels could have you waking up in the middle of the night. Often times, entrepreneurs overeat at night because they’ve been skipping meals during the day. One of the best ways to prevent that unhealthy cycle is to have a solid breakfast and lunch while prioritizing healthy eating throughout the day.

2. They Exercise

Exercise promotes healthy sleep patterns by releasing serotonin and dopamine. These are the same neurotransmitters that are important for regulating our 24 hour sleep-wake cycle, known as the circadian rhythm. Not only that, but exercising can also tire the body out making it easier to fall asleep and giving you a better night of sleep.

3. They Avoid Alcohol Before Bedtime

While alcohol may help you fall asleep, it will heavily affect the quality of your slumber. Sleep is lighter, you have less REM (the deepest stage of sleep) and you can end up waking up more often throughout the night. Studies have shown that many people wake up after about four hours because that’s how long it takes to metabolize alcohol. The best advice is to avoiding drinking any alcohol within three hours before bedtime.

4. They Stop Drinking Coffee Eight Hours Before Bedtime 

Coffee can linger in your system for 8 to 10 hours. If you are fueling your days with caffeine, that is likely getting in the way of restful night’s sleep. Another reason to lay off the caffeine is because coffee depletes serotonin, which are the ‘feel good’ chemicals in your brain that makes you feel calm and happy. Drinking too much coffee can not only lead to insomnia and disjointed sleep, but it may also aggravate feelings of stress and anxiety.

5. They Follow Some Cleanliness Rituals

Just like your morning routine, following a couple of cleanliness rituals at night is quite essential as well. Apart from helping you maintain great hygiene, it helps trick your brain into believing that it’s sleeping time. You don’t necessarily need to take a shower, but brushing, flossing and washing your face is enough.

6. They Create A Soothing Sleep Environment

Make sure the temperature in your bedroom is cool enough to induce and maintain sleep. Not only that, but you should keep your shades drawn to block out streetlights. If you are troubled by excessive noise from the street, use earplugs or invest in soundproof windows. Having a cozy sleep environment will allow for more restful and restorative sleep.

7. They Plan Ahead For Next Day

Planning is an indispensable part of success. If you want to be successful, you need to develop the habit of planning well. Most successful people like planning their day the previous night, before going to sleep. It helps them manage time well and meet deadlines without fail.

8. They Keep Their Gadgets At Bay

The screen light of your gadgets can obstruct your sleep and strain your eyes. Hence, you end up losing sleep and also tend to waste a lot of time mindlessly scrolling on social media websites. Successful people make it a point to keep their gadgets as far away from them as they possibly can when they’re preparing to sleep.

9. They Write Their Worries Away

If you find yourself lying in bed stressing about the events of the day, successful people recommend keeping a worry journal to write down the issues that are bothering you. For those who find their heads swimming with to-do-lists, they say putting the list on paper rather than thinking about it can help to clear your head and shut off your mind before bedtime.

10. They Spend Time With Family

Most successful people ensure taking enough time out of the day to spend it with their family. They eat dinner together and talk about how each persons day went. It doesn’t just give them the perfect chance to unwind and relax; it also helps them strike the perfect work-life balance. Some quality time with the loved ones also helps you achieve a better night of rest.

Conclusion

The daily schedule of people plays a significant role in determining their success. Their sleep habits are an important part of that schedule and significantly affect their success. In this post, I shared with you 10 sleeping habits of the super successful.

20 Money Making Ideas On The Side For Full-Time Employees

There are many side jobs that a full-time employee can do to earn additional income. In this post, I shared with you 20 money making ideas on the side for full-time employees.

A little extra income on the side is something that everyone would love to have. I think most people would be happy to have that extra financial security each month. While you may not realize it, there are tons of side gigs that you can pursue to generate income even while working a full-time job.

As long as you’re willing to put in the effort and don’t mind working extra hard, you can generate some good cash flow on the side. Here are 20 money making ideas on the side for full-time employees:

1. T-shirt Designer

You can sell T-shirts and similar products with custom designs or artwork on any number of online platforms. There are sites that will print the shirts and handle other aspects of the sale for you in exchange for a portion of each sale. You can check out sites such as TeeSpring, SunFrog and others.

2. House Cleaning/Janitorial Services

You can start a cleaning services company. You execute jobs over the weekends or you hire workers and supervise them. Some types of cleaning business can include post construction cleaning, day-to-day office/home cleaning, specialized roof cleaning, pool cleaning, carpet/rug/tile cleaning and drainage cleaning.

3. Writing

If you’re great at crafting engaging blog posts or convincing copy, it’s time to put your writing skills to work. To build up experience, you may want to begin with content or start a blog of your own. In addition to that, you can serve as a freelance ghost writer for others and make money on your own free time.

4. Sell Items Online

One of the easiest ways you can make money on the side is by selling things online. You can start by selling your own items and eventually move onto bigger things. You can start buying and selling for a profit or drop shipping depending on how you want to create your digital strategy.

5. Proofreading

Setting up a proofreading business online by letting clients send you their work and offering a few set prices or packages for your editing and proofreading services is a great way to earn some cash on the side. You can do it on a freelance basis and it can be an enjoyable profession for many.

6. Portrait Photographer

If you’re well-versed in photography and have the right equipment, you can set up photography appointments with clients on the weekend or just a few times throughout the week.

7. Uber Driver

Transportation services like Uber and Lyft allow you to make extra money by driving customers to their destinations. The best part of this is that you control your schedule completely so you can work whenever you please.

8. Affiliate Marketing

Affiliate marketing has enabled many people to quit their day jobs and earn a full-time income online. it’s unbelievable the amount of money some people make on the internet. You can invest some money out of your salary to start a blog and grow your affiliate marketing business. With the right choices and a little patience, you can make a great income.

9. Direct Selling

Another tried and true method of earning cash on the side is through direct selling. If there’s a company or a product that interests you, almost anyone won’t mind having a part-time salesman for their organization. There are thousands, of companies that offer direct-selling opportunities that range from cosmetics to vitamins to pet accessories.

10. DJ

If you enjoy being a DJ, it’s a great profession to do on the side. Most of the gigs usually take place in the evenings or weekends and you can earn a fat chunk of cash for your work. Work at weddings, clubs, parties and special events while enjoying yourself!

11. Yoga Instructor

Yogis, you can offer classes or even do private lessons in your home, a rented studio space, or even online. If you enjoy yoga and want to share your expertise with the world, there are numerous ways for you to turn your passion into side income.

12. Tutor

If you enjoy teaching and helping students, tutoring is a great way to earn money on the side. You can offer your services as a tutor to students that need help in a subject that you’re knowledgeable about.

13. Podcaster

Start a podcast where you talk about an interesting topic. You can make money over time as you build up an audience by charging for advertisements or by upsetting other products.

14. House Sitting

You can make money by watching people’s homes while they’re out of town. Build a client base in your area through word of mouth or even by using a site like Craigslist. Do it on the weekends or on your days off and collect a nice chunk of money for a little bit of work.

15. Vintage Seller

Sell vintage clothing, accessories and home goods that you’ve collected over the years at local flea markets, antique booths or on sites like Etsy or eBay. There’s a lot of money in buying and selling classics.

16. Records Search

Using specialized databases, you’ll search public records on your computer to help your clients find lost loves, check out questionable suitors, track down debtors, verify a contractor’s track record or dig up facts on a business opportunity. Most clients include attorneys, business owners and individuals.

17. Restaurant Delivery

Whether it’s macaroni and cheese or a five-course gourmet meal, meal delivery services are quickly becoming the newest way to dine. When customers want their restaurant orders “to go,” you’ll be “on the go” with your restaurant delivery service. This is a great way to make your late afternoons and weekends profitable.

18. Make and Sell Art & Crafts

Plenty of people earn extra money from something that started as a crafty hobby. Whether you love knitting, felting, soap-making, woodwork or metal-smithing, there’s likely a market for your creations.

19. Give Lessons

Whether you’re a champion chess player, an accomplished violinist or a wizard at creating the perfect smoky eye, chances are someone wants to learn your skill. People are always looking to get better at their passions and hobbies, which makes this a very profitable opportunity.

20. Public Speaker

If you have interesting knowledge on a topic, you can offer your services as a speaker for various events. Public speakers can get paid very well, travel the world and deliver a powerful message to a large audience.

Conclusion

There are many side jobs that a full-time employee can do to earn additional income. In this post, I shared with you 20 money making ideas on the side for full-time employees.

How To Buy A Business At Great Value

Acquiring a business is hard when you don’t know what you’re doing. There are a lot of things you need to consider before acquiring a business especially if you want to buy one for a great price. In this post, I share with you a guide on how to buy a business at great value.

When most people think of starting a business, they think of beginning from scratch. That process involves developing your own ideas and building the company from the ground up. Starting from scratch presents some distinct disadvantages, including the difficulty of building a customer base, marketing the new business, hiring employees and establishing cash flow…..all without a track record or reputation to go on.

If you have some cash that you’re willing to invest, buying a business at a great value is always an option. Most people are often times thinking of starting their own businesses and they overlook how beneficial it can to be purchase another successful business.

Here’s a guide on how to buy a business at great value:

1. Go Right To The Source

If you see a business listed for sale, it’s probably not a great deal. There are a lot of places to find businesses on the market. To get the best deals in anything…whether it’s a house, a boat, a car, or whatever else is to buy it before it gets taken to the market.

When a realtor gets the call on a house that’s absolutely rock bottom and the seller is really motivated, they’re going to call their friends first. They’re not going to put it publicly for sale on the listing services because it takes time and effort to do. Find people who are involved in the process of buying and selling businesses. Let them tell you what rumors they’re hearing through their sources and that is a good way to find potential businesses to make offers on.

2. Buying A Business Through A Broker

Brokers facilitate the buying and selling of e-commerce businesses. Perhaps the seller doesn’t have the time or the necessary experience to deal with potential buyers. As a result of this, he/she hires a broker to market the sale of the business and to manage prospective buyers.

The best part about using a broker is that they are extremely experienced. Brokers can also give you a lot of insightful information about the sellers that can help you value the business. Brokers will always price the business much higher than it should be. The reason for this is that they take a cut and they almost always convince the seller that they can get them top dollar. Brokers are a great place to buy businesses from especially if listings have been up for a while because you can often win with low ball offers.

3. Check The Inventory

Inventory is referring to all the products and goods that one business has. Often times, you’ll be surprised to find out how much people value their inventory at. If you’re looking to buy a business at a great value, you can potentially try acquiring a business without the inventory. By doing this, you’re taking over an established working organization with employees and a brand without paying for inventory at a high price.

Many sellers will include inventory in the sale of the business and use that as a tool to hike up the value of the company. Smart buyers will always isolate each part of the business and understand how much it’s costing them. From there, they can make more calculated decisions on the best way to acquire a company.

4. Have All Furniture, Fixtures, Equipment And Building Checked 

As I mentioned in the last section, there are many things that are included normally in the pricing of a business. Another popular thing is known as physical assets such as furniture, fixtures, equipment and other types of things. If you have your own furniture and equipment, you can always exclude these items from the sale price.

However, if you do want to buy the fixtures, equipment and furnitures from the existing seller, you must check the condition of all the items. Get receipts to see how much they paid, when they bought it and how well it’s working/running today. Often times, sellers will This includes all products, office equipment and assets of the business at the value during the time of purchase. However, over time the value drops significantly.

5. Think Outside The Box

One of the best ways to buy a business at a great value is to really see what the seller wants. Does the seller have any emotional attachment in the business? Is there anyway you can lower the value of the sale price significantly by keeping the seller somehow involved in the business? These are all great questions to ask yourself when making an offer.

If someone is looking to sell a business because they’re looking for a cash payout to use for something else, then money is going to be king. However, often times people also sell businesses because they want to retire or work less. In these types of unique situations, you can offer them a part-time job for giving you a discount or let them keep some equity while staying involved with basic things.

6. Verify Financial Statements For The Past Five Years

Evaluate the financial statements of the business you are purchasing very carefully, including all books and financial records while comparing them to their tax returns. This is especially important for determining the earning power of the business. If you are not experienced with this, hire an accountant or some sort of expert to guide you through this process.

For you to buy a business at a great value, you must know the numbers inside and out. After that, you have to value what the business is worth to you and how quickly you can recoup your initial investment. If you buy a business for $100,000 and you can get all your money back in 12 months, is that a great purchase? In my eyes, absolutely! However, if it takes longer than 2.5 years, I wouldn’t be as interested. Figuring out metrics like this makes it easy for you to know what you’re willing to pay.

Conclusion

Acquiring a business is hard when you don’t know what you’re doing. There are a lot of things you need to consider before acquiring a business especially if you want to buy one for a great price. In this post, I shared with you a guide on how to buy a business at great value.

10 Business Success Tips For Highly Qualified Entrepreneurs

In this post, I share with you 10 business success tips for highly qualified entrepreneurs. Success is not achieved in a day, but it’s a long journey and every day is a new lesson to learn.

There’s no road map when it comes to entrepreneurship since every company’s path is different. However, you can learn a lot from the people who’ve come before you, who’ve stumbled and fallen and those who have also picked themselves back up.

Entrepreneurship is not for the faint of heart. Running a business can be challenging and it takes hard work and perseverance to achieve a high level of success. Whether you’re already in business or looking to start a business, it pays to heed the advice of others who have walked in your shoes.

Here are 10 business success tips for highly qualified entrepreneurs:

1. Work Towards Being Significant

If you want to have success, you can’t make success your goal. The key is not to worry about being successful, but to instead work toward being significant. What can you achieve that will make you or your business feel significant?

As soon as you figure that out, you’ll realize that the success will naturally follow. If you do work that you love and work that fulfills you, the rest will come. Find out what feeds your purpose, passion and everything else will come into place on its own.

2. Love What You Do

Choose something that is in line with your own personal interest and passion so that your career doesn’t feel like work. Don’t be afraid to fail or to give up the things that don’t make you happy. Starting a business is just like getting married, you don’t want to get into bed with someone that you don’t like.

It’s okay to test out different types of businesses before deciding on what truly makes you happy. It took me two different companies and 5 years to realize where my passions and purpose truly lied.

3. Get Eyeballs On Your Product, Service Or Opportunity

This is by far the most important business success tip. No matter what type of business you’re building, whether it’s an online business or brick and mortar business, you have to get people to see your products, services or opportunities. If no one knows about your business, you won’t make any sales.

With any business, you have to be successful at marketing it. Some really bad business ideas are successful because they have great marketers behind it. On the same token, some really good business ideas never get off the ground because the marketing behind it isn’t good enough. Value marketing and getting your product out to the masses!

4. Plan

It is always a smart idea to have a business and a marketing plan. This will act as your blueprints to financial freedom. These so-called blue prints will guide you as you build your dream business. They will aid you in tracking your progress and will define where mistakes are being made.

It doesn’t have to be a complex or complicated plan. This plan should be modest, realistic, attainable and exciting. It is your silent accountability partner, instruction manual and motivation. However, it’s always recommended to be flexible with your plans and to make changes that will affect your success accordingly down the line.

5. Invest In Your Education Daily

All successful business owners invest in their education and do some form of personal and professional development daily. You must continuously grow your mind so that you can provide more and more value to your audience. Whether you invest time, energy or money, if you want significant business success, your education must be a top priority.

6. Life Isn’t Fair 

No matter how hard you work in life, there will always be times where things don’t go your way, perhaps through no fault of your own. Somethings cannot be controlled and you have to be okay with that. You will get knocked down, but you need to be able to stand right back up.

Life isn’t always fair and you cannot let that affect you. If you fall down and don’t bother getting back up, you don’t deserve to be successful. Winners know that life isn’t fair and they will keep getting back up until they’ve made it.

7. Don’t Re-Create, Emulate

If it ain’t broke, don’t fix it. When you see that something is clearly working in someone else’s business, go with it. Certain business models, software applications and systems work for a specific reason.

Don’t waste time building new systems if you can utilize something that is known to work. This will not only drive you nuts, but it will waste a ton of time unnecessarily. Efficiency is key in business and you want to spend your time wisely.

8. Be Committed 

This might sound like common sense, but it has to be mentioned. If you’re going to start a business and become an entrepreneur, this needs to be your top commitment. If you aren’t ready to do take the full plunge into entrepreneurship, it might be better to wait. You’re only going to hurt your chances of succeeding if you aren’t fully committed and invested.

9. Life Is The Best School, Not University Or College

No matter how many books you read, no matter how many tests you take, nothing from university or college can properly prepare you for life in the real world. Experience is the best teacher and no matter how much you learn from the books, you’ll never know what it’s really like until you dive in. At some point, take a leap of faith and learn from experience.

10. Don’t Whine About Your Mistakes, Learn From Them

As a business owner, mistakes will be made. Whether it’s on you or someone else that is part of your team, you have to take accountability for things that go wrong. On top of that, you need to keep a positive attitude about it.

Mistakes are made to be learnt from. You now know what or what not to do in the same situation if it ever comes around again. Instead of being disappointed or obsessing over your mistakes, learn from them and move on. That’s all you can really do.

Conclusion

Success is not achieved in a day, but it’s a long journey and every day is a new lesson to learn. Tips and lessons shared by successful entrepreneurs are helpful for achieving your own success. In this post, I shared with you 10 business success tips for highly qualified entrepreneurs.

40 Different Million Dollar Business Ideas You Can Launch For Close To Nothing

There are many businesses that can be grown without a large investment to start up. In this post, I share with you 40 different million dollar business ideas you can launch for close to nothing.

Chances are, just about anyone you talk with will have an idea for a business that they think can make millions. Although business pitches may be easy to come by, turning those ideas into massive wins is a whole different ballgame. However, many entrepreneurs with simple ideas and humble beginnings have been able to effectively turn various ideas into winning businesses.

Today, many people today are looking to leave the daily grind for something that feeds their passion. People do not want to retire at the age of 60 (or older) to look back on life and feel they have wasted it.

Choosing the path of entrepreneurship and working on your side hustle business idea is without a doubt riskier than being content with holding a 9 to 5 job. It requires way more sacrifice. However, once you’re reaping the lifestyle benefits of being your own boss and hustling your way into making significantly more money than you ever could at your day job, the hard work will have all been worth it.

Luckily, it is now increasingly easier to start a business from scratch without spending a fortune. Here are 40 different million dollar business ideas you can launch for close to nothing:

1. Mobile App Developer

Mobile applications are more popular than ever and people are willing to pay good money for ways to manage their lives from their smartphones. If you have a great idea and happen to know coding, you can run with it and create your app yourself. If you just have an idea, there are plenty of software developers looking to collaborate with people on app ideas as well.

2. Vlogging

While many people are against the idea of blogging nowadays since it’s too saturated, video blogging still has tons of opportunities available. It doesn’t take a lot of money to start and you can focus on creating content that is high in quality and caters to your passions. If you can share knowledge and start a YouTube channel, you have the possibility to make six to seven figures a year with a solid Vlog.

3. Hostel Owner

With services like Airbnb, everyone can turn their house, garage or just a single room into a unique accommodation for tourists and travelers from all around the world. The platform will take care of the initial exposure and will provide a way for owners and clients to conveniently communicate. If you happen to own a house in a very attractive destination, you can even expect to earn pretty good money.

4. Language Teacher

For a long time, language teaching has been the go to way of making money on the side for students and even full-time high-school or university teachers. Now, with Skype and ubiquitous internet access, everyone can start teaching languages from the comfort of his or her home. You don’t even have to know any foreign language yourself – there are many advanced learners who are happy to just practice their conversation skills.

5. Consulting

It doesn’t matter what you consult on as long as you are an expert and enjoy doing it. Consulting allows you to dictate your own working hours and your own prices. Find out what your value to the market is and start acquiring clients over time. Many self employed consults work alone, but rake in millions because of their expertise.

6. VR Developer

The virtual reality software market is expected to reach $24.5 billion dollars in revenue by 2020. A good chunk of that revenue could be in your pocket if you’re willing to learn about a new space. All you have to do is learn how to develop immersive VR and AR experiences. The internet is full of resources and communities of like-minded people to help you along the way.

7. Career Coaching

The millennial generation faces a much tougher job market than any generation before. There’s no doubt that many people will feel clueless about which direction they should take to maximize their chances of having a bright future ahead of them. A career coach can do his or her work either from an office or via the internet.

8. Online Teaching

The success of Khan Academy, a non-profit educational organization created in 2006 by educator Salman “Sal” Khan, has proved the effectiveness of online teaching and paved the way for talented educators and their students. You can sell your expertise as video content on YouTube or create your own website and charge your students on an hourly basis for Skype lessons. There are numerous monetization options, but knowledge is always value to someone else.

9. Personal Shopper

Shopping for groceries, clothes, or electronic goods can eat up a lot of time very quickly. A personal shopper can help busy people reclaim this time in exchange for a small fee. A personal shopper can be someone who goes to stores in person or it can be someone gives online recommendations about which product the client should buy.

10. Online Store

Opening an online e-commerce store is just as viable option how to make a living as it was a decade ago. The completion is definitely tougher, but you have an access to a wide range of free tools that you can use to set everything up with very little effort. Not only that, but online stores have much less startup costs than actual retail stores.

11. Food Truck

Do you like to cook and come up with creative food ideas? Then, opening a food truck might be just for you. Even if you can hardly make a cup of tea, you can still get in the business. Simply hire chefs and other experienced individuals to help you with your idea. If you’re low on capital, seek out investors and partners that are willing to buy into your vision.

12. Flipping Websites

Believe it or not, buying and selling websites can still make you a ton of money today. This has been a popular career choice for many individuals since the early 2000’s. Using sites like Flippa will allow you to find websites for cheap, build them up and sell them back in the market for a nice profit.

13. Podcasting

Podcasting is a fantastic way how to make a few bucks on the side for anyone who deals with interesting or niche topics that are suitable for this type of format. Do you like video games or ethnic music? There are definitely plenty people just like you who would look forward to hearing your show on their way to work or school.

14. Blogging

Blogging is alive and well even today. It still doesn’t have to cost even a single dollar to get started, but it will probably take a while to get some exposure. These days, the competition is so fierce that getting on first pages of major search engines is no piece of cake. However, if you can master social media and build an audience, you can still achieve massive success without the help of search engines. Think outside of the box for marketing and growing a blog.

15. Affiliate Marketing

Affiliate marketers promote products of other people and earn commissions on their sales. Amazon is currently the most popular platform for affiliate marketing, but there are many alternatives as well. Affiliate marketing is often combined with blogging to create a seamless mix of content and promotion.

16. Handmade Goods

If you are a crafty person, you should take a look at Etsy, which is the largest online market for homemade and vintage goods. You will find an amazing mix of leather wallets, lamps made from river wood, unique hand-printed t-shirts, jewelry, organic soups and countless other things. Top sellers often expand beyond the platform, creating their own brands and opening stores across the country.

17. Data Analyst

With the rise of Big Data, increasingly more companies need to make sense of heaps of information to adjust their overall business strategies. A data analyst is someone who has the technical expertise to accomplish this job, often having a background in economics, mathematics or finance. Data analytics who work for large, international corporations can earn more than enough money to support even more extravagant lifestyles.

18. Digital Marketing Campaign Manager

Marketing has gone digital and it’s the job of digital marketing campaign managers to produce best results possible. You can start your career as a digital marketing campaign manager by studying freely available online resources and experimenting on your own. Once you know what you are doing, try generating leads and finding customers that are willing to hire you for your services.

19. Online Bookkeeping

Just like so many other professions, bookkeeping has gone online. This is a great news for many bookkeepers and accountants who feel trapped in the office environment and long for more personal freedom and the ability to work during their own hours. You can find clients all over the world and take care of their bookkeeping from the comfort of your home now!

20. Niche Website Owner

New trends start every day and some of them grow to be pop culture sensations. Your job as a niche website owner is to capture the market before it gets too saturated. Creating a niche website (using WordPress) will allow you to secure your place on the very top of search engines, resulting in thousands of daily visitors. Over time, you can either sell these websites or monetize them yourself.

21. Mobile Laundry

Mobile laundry services can be the ideal extension of an existing laundry business. In this day and age, it’s paramount to make every service as convenient as possible, which often means creating mobile applications and a dedicated website interface where customers can schedule deliveries and pickups.

22. Fitness Instructor

Whether it’s because people fail to adhere to a strict fitness regime or because new fad diets and fitness movements are cropping up on a regular basis, the demand for fitness instructors is always high. Modern fitness instructors should definitely consider exploring the online space and even possibly recording a series of educational videos and posting them online. Not only is this a fantastic marketing strategy, but it’s also a viable way to generate additional income.

23. Antique Refurbishment

If you like working with wood and beautiful, antique refurbishing could be your ticket to success. Depending on what exactly you do, you don’t need to invest a lot of money to get started, but you will need to travel across the country to get the best pieces you can. If you can fix them up, you can sell them for massive profits.

24. Growing Medical Marijuana

If you live a state or country where medical marijuana is legal, you can consider starting your own growing operation. The initial setup can be costly, but it’s relatively smooth sailing after that. Your days will be spent taking care of a wonderful plant and helping people improve their health and well-being in general.

25. WordPress Themes

Are you a web developer or designer who wants to build products for passive income? If so, creating WordPress themes might be the right path for you. Once your theme is finished, you will still need to provide customers with ongoing support and work on updates, but for the most part your income stream will be passive.

26. SEO Expert

Search Engine Optimization is an absolute necessity for everyone who wants to be relevant on the web. A capable SEO expert can turn a dying business into a prosperous operation in a matter of months. SEO agencies and professionals earn a lot of money and if you have the skills, this might be a great business idea to pursue.

27. Property Management 

Landlords really don’t have time to check in on their properties or their renters so they’re constantly looking for someone who can maintain things for them. A property management company can take care of these tasks for the landlords and they can collect a nice fee for doing so. The best part is that there is really no startup cost to get started.

28. Business Broker

A business broker is someone who assists buyers and sellers of privately owned businesses in the buying and selling process. As such, he or she must have a good knowledge of business law and common practices in the particular industry. Businesses brokers are rewarded with commissions for the sales they make.

29. Pet Daycare

If you love animals and have enough room to spare in your house, you can start a pet daycare. There’s not much to it: pet owners leave you their animals whenever they have to go out for a long time and your job is to provide them with everything they need.

30. Guided Tours

Are you situated in a popular tourist destination? If so, you may consider yourself lucky. Starting a guided tour business can be a lucrative opportunity how to make extra money during the summer,or it can be the start of a much larger business that employs other people to work as guides.

31. Pick Up & Drop Off Services

A pick up & drop off service is another type of business that combines modern technology with our constant need for more time. It usually starts with a platform that automatically pairs clients with suitable pickers. From there, it’s all about completing assignments as you receive them.

32. Makeup Artist

This is one of those few professions that you can start working on in your bedroom and end up on the set of a Hollywood movie just a few years down the road. What’s even better is that makeup artists can take advantage of platforms such as YouTube and make their content visible to billions of people from all over the world.

33. Image Consultant

You are probably wondering who needs an image consultant. The reality is that many companies and individuals rely on their image and brand. Often times, they struggle to maintain a positive brand and they find it valuable to hire someone who can manage it. The best image consultants are people with a proven track record of success and inside knowledge of a particular industry.

34. Decluttering Services

With the tremendous success of The Life-Changing Magic of Tidying Up from Marie Kondo, there has been a surge in demand for decluttering services. People are in dire need to get rid of useless possessions and things that cause them emotional burdens. This business is far from being just a cleaning service in disguise. More often than not, people will be unwilling to give up even what’s clearly trash, so you must have a good understanding of the human psychology as well to help people get over sentimental items.

35. Green Cleaning Services

The only thing that differentiates green cleaning services from regular cleaning services is the type of products used for the actual cleaning. But this simple thing can turn the otherwise unattractive businesses into something highly desirable. People in upscale neighborhoods are willing to pay a lot of extra money just to know they are helping to preserve the environment.

36. Organic Food Catering

Organic food catering is such a popular and lucrative niche in the catering business that it deserves to be mentioned on its own. You should establish close ties with local farmers to ensure a steady supply of organic products. Then, it’s just about acquiring the right equipment and marketing your services.

37. Energy Auditor

Green energy solutions can lead to dramatic savings, allowing some people to completely off the grid. As an energy auditor, you will help businesses, individual homes and apartment owners find ways they can increase their energy footprint while decreasing their monthly bills.

38. Beard Care Products

Beards are still a thing and they will probably remain to be for some time. You can start your own beard care brand with just a few cheap ingredients that you can buy online. When you manage to make a good product, all you need to do is take care of its marketing and bulk manufacturing.

39. Sustainable Landscaping

The purpose of sustainable landscaping is to offset negative environmental impacts by using strategic methods for business and residential landscapes. Sustainable landscapes often feature shade structures and bike racks made from recycled materials, a wireless irrigation system, native grasses, and large, open areas for sport and leisure.

40. Meal Prep Specialist

Currently, more people are worried about their diets and well-being than ever before. As a result of this, people are looking to work on their daily nutritional values. If you are an expert on healthy eating and can cook, you can become a meal prep specialist and open up your own meal prep business.

Conclusion

There are many businesses that can be grown without a large investment to start up. In this post, I shared with you 40 different million dollar business ideas you can launch for close to nothing.

6 Extremely Important Reasons Why You Should Be Committed To Lifelong Learning

Learning should not stop after you have finished a degree or achieved success. They say that the only thing that is constant is change. To be able to cope with all the changes that take place, one must engage himself or herself in lifelong learning. In this post, I shared with you 6 extremely important reasons why you should be committed to lifelong learning.

Many people wonder what they can do to become well-rounded and competitive while increasing their rate of success in life. An often overlooked yet simple way to improve is to increase your knowledge by being a self-starter.

Traditional and structured education can be important and helpful, but to be truly successful you have to dedicate yourself to the concept of lifelong learning. These individuals prioritize  the idea of educating themselves daily regardless of how busy they are. These individuals understand the importance of creating plentiful opportunities in all spheres of life.

In this post, I will share with you 6 extremely important reasons why you should be committed to lifelong learning:

1. You’ll Earn More

Fifty or sixty years ago, you could finish college and you’d have all the education you needed for the rest of your life. You don’t have that luxury in today’s job market. Skills that were cutting edge five years ago are likely out of date, and the jobs that we will perform in the next decade or two probably don’t even exist yet. If you want to stay competitive in today’s world and potentially earn more money, you need to become a daily learner.

Not only can will becoming a lifelong learner help you earn more money in traditional employment, but it’s also the key to finding success in your own businesses. If you’re looking to increase your salary, your job might not be your problem. Instead you might be missing out on opportunities because your education isn’t up to date.

2. Lifelong Learning Will Help You Cultivate Vision

Some people face the problem of being confused on what direction to take. They don’t really know which way they want to go in life, so they just wander aimlessly and soon become stagnant and stale. However, that isn’t the way to live.

The solution to this problem is having fresh vision. Vision gives us direction and motivates us to pursue a better reality. But where does vision come from? What is the optimum environment in which vision is spawned? Vision comes from a mind that is exposed to new ideas and learning about new happenings.

3. Lifelong Learning Keeps Your Brain Healthy

Henry Ford said, “Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your mind young.” Nearly 100 years later, science is continue to validate Henry Ford’s wise words.

Education seems to be an elixir that can bring us a healthy body and mind throughout adulthood and even extend peoples lives. Learning new things can also help stave off old-age ailments like dementia and Alzheimer’s. One study has shown that older folks who stay cognitively active and curious about the world around them are 2.6 times less likely to develop dementia and Alzheimer’s than those who let their minds lie fallow.

4. Lifelong Learning Will Keep You Current

The rate of change in society has dramatically increased. During the agricultural age, paradigm shifts occurred over thousands of years. The industrial age produced paradigm shifts, first in a century and then in a generation. At the start of the information age, paradigms appeared to shift at the rate of three per lifetime. It suggests that beginning in the year 2000, paradigm shifts have begun to occur at the rate of seven to ten per lifetime.

This rapid rate of change makes lifelong learning essential because if you’re not growing and learning, you will quickly become antiquated and obsolete. It is more difficult to excel in life than ever before. In every area of life, the bar is being raised. Yesterday’s best is today’s norm. Today’s norm will soon be subpar. Individuals and organizations will find competing increasingly difficult and it’s going to be almost impossible to survive. Ongoing success will come from ongoing learning.

5. You’ll Feel More Satisfied With Life 

When you’re constantly learning, you get to decide what you’re going to learn about. Instead of being a passive consumer of knowledge, you’re actively choosing what you’re learning. In other words, you’re autonomous. As you learn new skills, you’ll enjoy the positive feeling that comes with mastery.

The satisfaction that comes with lifelong learning doesn’t stop there. The more you know about the world, the deeper you can plunge into it and the more levels of it you can experience. Whether you’re traveling, conversing, visiting a museum, watching a movie, or reading a book, your library of knowledge helps you make connections that you would never have otherwise perceived.

6. Lifelong Learning Is Enjoyable

The main reason we should be lifelong learners is for the sheer joy of it. The world is a fascinating place that provides innumerable areas to investigate and explore. Consider the areas of study offered by a major university: anthropology, chemistry, psychology, music, journalism, biology, history, art, architecture, and others. If you want to learn about those things, you can pursue formal education or informal education.

The World Wide Web gives us instant, current access to most of the world’s knowledge. With lifelong learning, you aren’t tied to pursue topics and ideas that you aren’t interested in. You can follow things that you’re passionate about and that will make learning fun, instead of tedious.

Conclusion

Learning should not stop after you have finished a degree or achieved success. They say that the only thing that is constant is change. To be able to cope with all the changes that take place, one must engage himself or herself in lifelong learning. In this post, I shared with you 6 extremely important reasons why you should be committed to lifelong learning.

8 Life Lessons I Learned From Becoming An Entrepreneur At A Young Age

Entrepreneurship is a long journey that hasn’t been perfected by anyone. In the long run of any business, every entrepreneur has several lessons they will learn as the journey continues. In this post, I shared with you are 8 life lessons I learned from becoming an entrepreneur at a young age.

According to recent studies, the number of people under 35 starting their own businesses has increased by more than 70 percent since 2006. Young people are more entrepreneurial than any previous generation, and many are achieving great success at very early ages.

Entrepreneurship can be a tough and long journey for many people. Some get lucky and succeed the first time while for most, that isn’t the case. They continue to learn and grow from multiple ventures. For me, I jumped into entrepreneurship very early in even today’s standards. I was just 17 years old and still a senior in high school.

From launching over 5 businesses, I’ve learned quite a lot about the entrepreneurial world in the last 7 years. My journey has been met with obstacles, failures and great successes along the way. All of these things have contributed to my overall education in the entrepreneurial world.

Here are 8 life lessons I learned from becoming an entrepreneur at a young age:

1. Deciding In The Heat of The Moment Is Never A Good Idea 

Whether you’re just starting your business or you’ve grown it into a big company already, you’re always going to have to make tough decisions. When you really care about your work, it’s easy to let emotions get the best of you.

Entrepreneurs are very passionate people and it’s easy to make a decision when you’re riding high or running low. Do yourself a favor and avoid it at all costs. Emotions and business don’t mix. As a leader, you must to learn to weigh all the variables before making an important decision. Emotional decisions tend to yield undesirable outcomes. Logic takes a backseat, and the risk you’re willing to take may be too much.

2. Work Hard, Play Hard

When I first started out as an entrepreneur, I sacrificed my friendships, my family members and my social life completely. I was obsessed with my businesses and I was spending day and night working on them. However, I quickly realized that the straining relationships were a big stress in my life and I was burning out far too quickly.

Yes, entrepreneurship is difficult and you must put in work long hours, but it isn’t worth completely sacrificing friends, family and fun. Manage your time efficiently and grant yourself breaks and days off. Take time to socialize and spend time with family and friends. This can help clear your mind so you’ll be less likely to burn out while giving your brain something else to think about for a period of time.

3. Don’t Fake Happiness, It’s Impossible

You can fake something when you meet somebody, when you meet them once or twice. However, it’s impossible to fake something for the rest of your life. As an entrepreneur, money is great but happiness reigns above everything else. When I launched my first business in high school, I only cared about the money.

I tried faking it and pretending that I was happy, but I really wasn’t. I was lacking passion and purpose, all I had was the financial gain to look forward. I immediately realized it was time for a change of industries and I finally ended up finding happiness. Starting a business is like getting married, you’d hate to get married to someone that you can’t deal with for too long. Choose wisely and make sure it makes you happy!

4. Failure Has More Benefits Than You Think

As entrepreneurs, we’re constantly hearing the phrase “embrace failure.” However, very few people actually know what it means. When I first failed, I sure didn’t know what the hell it meant. It took me time to go through the entire process to really understand how to deal with failure and how to embrace it. Failure actually has more benefits than most people would understand on the surface.

Not only does failure present an opportunity to learn from your mistakes, it is real world experience and education that should assure you a better shot of succeeding the second time around. Not only that, but failure puts your ego in check and removes the feeling of invincibility off entrepreneurs once they get their first taste.

5. Celebrate Small Wins

Starting a company is hard, growing one is even harder and running one successfully is the hardest thing of all. Many people celebrate the big wins (when the needle really moves), but what do you do about the small wins?

When I first started out, I ignored all the small wins. Told my employees and partners not to celebrate it and that we had to focus on our bigger goals. However, I quickly realized that the small wins were just as important as the big ones. Recognizing small victories can boost your morale and provide a surge of energy. They provide you with the motivation to keep going and they show you that what you’re doing on a day to day basis is still working.

6. Don’t Give It Away For Free

When I launched my startup company StatFuse, we had this dream that we would give away our product for free and acquire millions of users. We were getting tons of users, but giving our product away for free wasn’t as beneficial as we thought it was. We were cash flow negative and our users weren’t close to as valuable as we expected them to be.

No matter what you do in the entrepreneurial world, cash-flow is what keeps the company afloat. Before you start giving out things for free on a hope that one day you’ll be able to monetize, figure out a way to generate cash from day one. This was one of the most valuable lessons I learned after 2 years of generating almost zero revenue with StatFuse.

7. Calculate Your Risk And Then Jump In With Both Feet

Don’t jump into something without knowing what’s really down there. Once you are ready to jump, don’t half ass it. That’s the simplest way to put it. If you’re going to make the decision to take a calculated risk, put your heart and soul in it.

In entrepreneurship, I have learned that half hearted efforts never go anywhere. Figure out the risks and the rewards and then see if it’s all worth it in the end. I can tell you from my experiences that taking risks is extremely crucial to long term success. Playing it safe in the entrepreneurial world can only get you so far!

8. Know Your Industry Better Than Anyone Else

Most people are not willing to put in the time necessary to learn and educate themselves. However, education is crucial to your success and it’s also the easiest way to stand out and have the upper hand on your competition.

The most important thing to learn about is the industry that you plan to build your business in. If you were to build a dream mansion, would you just stop in any random city and build it? Absolutely not. You’d study the geography of the land, the people in the city, the safety of the area and the shops/landmarks in the area before building your house. Entrepreneurship is the same. Study your industry inside and out before building your business!

Conclusion

Entrepreneurship is a long journey that hasn’t been perfected by anyone. In the long run of any business, every entrepreneur has several lessons they will learn as the journey continues. In this post, I shared with you are 8 life lessons I learned from becoming an entrepreneur at a young age.

10 Things The Best Entrepreneurs Know That Others Don’t

Becoming insanely successful is the natural result of behaviors and beliefs. If you come to know and live like those who are successful, you will quickly find yourself in the same boat. In this post, I shared with you 10 things the best entrepreneurs know that others don’t.

To be successful in the world of entrepreneurship, you must see the world differently from the norm. For me, I’ve always wanted to be the best at everything. If I value it enough to spend my time and energy on something, I am doing it because I want to be the best.

Some of us dream of owning a beautiful house, a terrific car and running a business empire someday. In the process of dreaming and envying those who’re already living this life, we tend to overlook where these success stories often came from.

Super successful entrepreneurs don’t have superpowers; they are just like any of us. The only thing that makes them different from the average person is that they do certain things differently from others. Here are 10 things the best entrepreneurs know that others don’t:

1. Failure Is Inevitable And Sometimes Necessary

Failure by definition is often described as a lack of success. We all know failure is by no means fun, but it should be expected, especially in your early years of entrepreneurship. If you’re attempting something truly ambitious, then you’re almost guaranteed to face your share of obstacles along the way. You shouldn’t look at them as challenges, instead treat them as constructive.

Every hurdle strengthens your character and builds your resolve; most successful entrepreneurs will agree with this statement, if not every single one of them. By not shying away from the hurdles you face, you will develop professional callouses that allow you to get a stronger grip on your industry and what you are capable of. It paves the road to your success.

2. Ambiguity Is A Good Thing

Tolerance for ambiguity is the degree to which you are comfortable with uncertainty, unpredictability, conflicting directions and multiple demands. Most people despise ambiguity. and they honestly don’t feel comfortable with it. When they aren’t comfortable, they decide that aren’t ready for that change.

They want clear guidelines and instructions to live within. Without that, they flounder or completely stall. Children are known for their risk-taking behaviors and a high tolerance for ambiguity. They’re comfortable in situations without assurance of winning and losing. To be successful as an entrepreneur, you must embrace the ambiguity instead of running from it.

3. Time Is Money

Time is one of the most valuable resources we have. You need to make the most of it if you wish to succeed. Everyone has the same 24 hours in a day. It’s what you do with that time that equates to how much success you achieve and how much income you generate.

Entrepreneurs understand the metric of time and the best way to use it. Instead of focusing on tasks that aren’t related to their vision or their income, they strictly concentrate on the most important things each day. If you do the same, you’ll find your levels of productivity increasing dramatically.

4. Relationships Matter A Lot 

You know that networking is important, but over time entrepreneurs get busy and often forget all about it. However, extraordinary entrepreneurs make the time to connect with others because they know those relationships can potentially be the cornerstone of their business.

Nurturing those relationships isn’t about walking into a networking event and tossing your business card around. It’s about building mutually valuable relationships that are authentic and going to be beneficial possibly down the road. Just popping your face in front of as many other people isn’t going to help you or your business.

5. Risks Are Necessary

Risks are a critical part of your journey to success. If you wish to do something entirely different and out-of-the-box, you need to step out of your comfort zone and do unconventional things. If you remain stuck in your comfort zone, you’ll never get the chance to do anything extraordinary.

Successful entrepreneurs have all taken risks along the way to become who they are today. You have to be able to calculate the risks and rewards before making a decision. However, don’t ever be completely against risks because safety doesn’t equate to success.

6. Plans Don’t Stick, But You Should Still Have Them

As an entrepreneur, we know better than anyone else that our plans rarely ever go as they should. You never know what to expect and you are often forced to constantly shift course depending on which way the wind starts blowing. However, that still doesn’t mean that you shouldn’t make plans.

Successful entrepreneurs can benefit from having detailed plans. Even if almost everything changes, it gives them a path to follow initially. In addition to that, in tough times they also have something to reflect upon to decide their next moves.

7. Happiness And Success Are Effects, Not Causes

If “success” is your primary objective, you probably won’t get it. Chasing success is like chasing happiness. You can’t pursue it directly. Both success and happiness ensue from something far more fundamental, who you are.

Do what makes you happy. With entrepreneurship, you’re really going to be changing your life and your business may become a 24/7. As a result of that, you’re going to have to find something that serves your passions and purpose as an entrepreneur.

8. Learning Never Ends 

No matter how successful you become or how much experience you gain, it’s important to keep learning new things. In today’s time, being an expert in your field isn’t enough. You need to regularly add new weapons to your arsenal of competencies, which will require you to spend a ton of time learning.

Successful entrepreneurs are constantly educating themselves. They are doing anything and everything possible to expand their minds, resources and skills. If you want to achieve massive success in anything, be prepared to learn as much as you possibly can.

9. Success Doesn’t Come Easy

The road to success isn’t easy. It involves sacrifices, compromises and many sleepless nights. If you’re someone who’s scared of working hard, you’re going to find a tough time being successful as an entrepreneur. To chase your dreams and turn them into realities, you need to be fearless and ready to give whatever it takes to succeed.

10. This Is A Lifelong Journey

You may not have seen your business as one that you’d be doing for the rest of your life when you first started it, which is true. However, if you really want to achieve great success in the world of entrepreneurship, be prepared to get involved for a long time.

Whether you start with a single business or dabble in multiple endeavors, you’ve got to face the fact that you may never be an employee again. For most of us, that’s great news. But it’s imperative that you see the big picture and make your decisions accordingly.

Conclusion

Becoming insanely successful is the natural result of behaviors and beliefs. If you come to know and live like those who are successful, you will quickly find yourself in the same boat. In this post, I shared with you 10 things the best entrepreneurs know that others don’t.

8 Entrepreneurial Lessons You Can Learn From Sports Betting

There are many parallels that can be made between the sports betting and business worlds. Make sure that you take calculated risks and try to stick to what you know and love. In this post, I shared with you 8 entrepreneurial lessons you can learn from sports betting.

Betting and gambling are probably the last places most logical minds would go for business advice. However, the world of sports betting and business has much more in common than many might imagine.

If you’ve ever wondered why so many entrepreneurs and business minds enjoy the thrills of gambling, it’s because of the overlap in the two worlds. When focusing on the gambling world specifically, I have come to find that sports betting has a lot in common with entrepreneurship.

In this article, I share with you 8 entrepreneurial lessons you can learn from sports betting:

1. Pick Teams You Can Count On

When it comes to sports betting, I would never put my money on the Cleveland Browns. They simply aren’t reliable and they don’t win enough games. When it comes to business, focus on niches or industries that are stable when deciding to build your company. If the state of an industry or niche is extremely unreliable, you’re setting yourself up for disappointment.

2. Appearances Can Be Deceiving

When it comes to sports betting, you need to do your homework. When a bet looks too good to be true, it probably is. If someone comes to you with a great proposal, which is supposed to pay off big, it usually won’t. Whether it’s in entrepreneurship or in the sports betting world, don’t be a fool. Do your math and study every angle before you make a decision.

3. You Can Always Recover After A Bad Day

Sports betting often goes wrong, but those who love betting always get back on track after a bad day. If you’ve lost all your bets today and you’re in debt, don’t panic. It’s just one day and the sports bettor knows that it’s what you do over the long haul that matters. Entrepreneurship is the biggest roller coaster of all. However, as long as you set the right goals and put the proper daily habits into practice, don’t let a bad day force you to quit. It’s never too late to bounce back after a bad day or a bad period of time.

4. Enjoy The Sport

One of the greatest pieces of advice you can follow in sports betting is to only bet on sports you are passionate about and that you actually know. Why? When you’re passionate about a sport, you evaluate risks better and are more interested in the analysis. The same applies to business. Don’t focus on which industries are making the most money, instead focus on what you know the best and what gets you excited.

5. Constantly Educate Yourself

As a sports bettor, you have to be educating yourself about the teams and the sports that you bet on. If you just expect to come in each year using past years knowledge experiencing the same results, you’re going to be a fool. Entrepreneurship is very similar to the sports world in that you constantly have to be learning. Take every experience in your journey and see how you can improve from it.

6. Networking Is Crucial

This one is a classic, but it’s also applicable in both worlds. Who you know is just as important as what you know. In sports, another experienced sports bettor can be a great mind to bounce ideas off of to uncover things that you may not have known. In the world of business, you can bounce ideas off of another entrepreneur or network with someone for connections that may open up new doors down the road.

7. Avoid Overdoing It

If you bet too much or let it get out of control, it can become a nasty addiction. Entrepreneurship and business is the same way. If you work too much and obsess over your business a little too much, you’re going to be leading an unhealthy life. As an entrepreneur, you have to make time for your friends and family. With sports betting as well, you want to maintain a proper bankroll and bet money you can afford to lose.

8. Don’t Forget To Have Some Fun In The Process

When you are busy managing your business, it’s easy to forget to enjoy the entire process.  Being an entrepreneur and running a business is the most fun that I’ve ever had. When it comes to sports betting as well, too many people get stressed out and forget to have fun. If you’re betting sports, you should enjoy the game and thrills of the betting world. Don’t get addicted to the wins and losses because it’ll make the entire process gruesome.

Conclusion

There are many parallels that can be made between the sports betting and business worlds. Make sure that you take calculated risks and try to stick to what you know and love. In this post, I shared with you 8 entrepreneurial lessons you can learn from sports betting.

9/10 Startups Fail – How To Make Yours Part of The Succeeding 10%

Whether a startup will succeed and grow into a long-lasting company is based on a variety of factors. But, in examining the landscape as a whole, it is possible to identify some common characteristics of successful startups. In this post, I shared with you that 9/10 startups will fail and the ways on how to make yours part of the succeeding 10%.

Anyone who is even remotely associated with the startup world knows that more startups fail than they do succeed. With each business or startup that fails, one should really go back and see what may have caused things to not work out. Even though there are thousands of success stories to look up to, there are a lot more to learn from the failures.

There can be a myriad of factors resulting in startup failure and here are some of them:

Market Problems

A major reason why companies fail is that they run into the problem of their being little or no market for the product that they have built. Some common issues people run into when it comes to the market is that there isn’t a compelling enough value proposition, the timing may be wrong (being ahead or behind by too many years) and the size of the market just not being significant enough.

Poor Management Team

An incredibly common problem that causes startups to fail is a weak management team. Weak management teams make mistakes in multiple areas. Some of these mistakes include being weak on strategy, poor at executing their ideas or building a team of individuals that aren’t best fit for their positions.

Running Out Of Cash

Another reason that startups often fail is that they simply run out of cash too soon. A key job of the CEO is to understand how much cash is left and whether that will carry the company to a milestone that can lead to a successful financing or bring them to cash flow positive. It isn’t easy having to balance a business and a lack of funds in the startup world.

Product Problems

Another reason that companies fail is that they fail to develop a product that meets the needs of the market. This can either be due to simple execution or it can be a far more strategic problem, which is a failure to achieve product/market fit. Nevertheless, if you can’t build the best possible version of your product, you’re going to be in trouble.

Nowadays, it seems like everyone you know is somehow involved in a startup. However, despite their popularity, many startups struggle to ever take off. While every startup has its own unique challenges, you should definitely try to learn from those who have managed to find success. The bleak truth is that 9/10 startups fail. Here are ways on how to make your startup part of the succeeding 10%.

1. Take Calculated Risks

Every decision has its consequences. Successful startups are able to recognize potential outcomes and accurately calculate risk. Hasty decisions are never a good idea, thus you have to weigh the risks and rewards of every move you make. Rather than being reckless, focus on taking risks that have a good chance of succeeding.

2. Have A Product-Market Fit

Selling a product or service customers actually want is important. The market must be willing and able to pay for what you’re selling. This seems straightforward and obvious, yet many startups struggle with defining their product-market fit.

You may have a product or service that is initially well-received, only to later find out it doesn’t have the level of support you need to be successful. Successful startups know that an initial idea or product concept may need to be adjusted over time. They are continuously testing their assumptions and are willing to change course as needed. The sooner you nail down product-market fit, the better your foundation for success will be.

3. Start With A Small Market

When it comes to successful startups, there is a lot of talk about the importance of having a huge market. It’s true that a startup must eventually reach a large market in order to turn into a large company. However, at the beginning, it’s actually best to start with a small market or super targeted niche.

4. Effective Communication

Communication is a crucial factor of business as well. This is an important characteristic that translates throughout a company. Communication must be effective among employees in a business and between the employees and the customers. If communication is lacking, business will be too.

5. Take Feedback Seriously

Another quality of successful startups is their ability to adjust to feedback. Whether the feedback comes from investors, advisors, mentors or customers, successful startups extract value from feedback to help improve their product, service or business model. Ultimately, it’s a balancing act of knowing when to pivot and when to hold your ground.

Savvy founders form connections with mentors and advisors early on, developing relationships with those who came before them to learn from their mistakes and successes. One of the best ways to make those connections is in co-working spaces. Being surrounded by these types of individuals is a great way to accelerate your business forward.

6. Passionate About Disruption

Successful startups are based on disruptive ideas. More than a buzzword, disruption is changing the status quo in an existing marketplace. The phrase “disruptive technologies” was coined by Harvard Business School professor Clayton Christensen. Disruptive technologies create new markets and value networks that eventually displace more established ones.

Thus, the driving factor of a successful startup is more than someone wanting to be their own boss. Instead, it’s someone envisioning “a new normal” for their target market. It’s that passion that pulls them forward in the face of existing competitors, industry standards and norms.

7. Goal-Oriented

While a business venture may seem like a goal in itself, entering a business requires strategy and planning. Successful businesses are managed using a system of short-term goals that are constantly evaluated and realigned. With such a system, the business and the business owner are able to identify and achieve success. A strategic plan is an important element of any business design.

Managing a business is a difficult, but a rewarding task. To be successful as a startup, you have to achieve some level of success fast. The quickest way to achieve success is to set goals and to crush those goals over time.

Conclusion

Whether a startup will succeed and grow into a long-lasting company is based on a variety of factors. But, in examining the landscape as a whole, it is possible to identify some common characteristics of successful startups. In this post, I shared with you that 9/10 startups will fail and the ways on how to make yours part of the succeeding 10%.