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THE BEGINNING OF THE EXPERIENCE! 1970-01-01 00:59:59 We are young, old, and middle-aged. We are all genders, religions, ethnicities, and nationalities. Everything about us is different, except for one primary goal we all share...to become filthy rich!This is the beginning of the journey that we will all share together. Every week, for as long as this blog runs, information, education, ideas, tips, and motivation will be shared by myself and by all members of this blog in order to accomplish the goal of financial security. Let me clarify something first. This is not a "get-rich-quick" blog, this is not your typical infomercial "follow-my-plan-and-you-will-be-rich" blog, and this is most definitely NOT a "buy-my-product-and-become-rich" blog. This is a forum of idea sharing and education that will create new business ideas, new networking contacts, and new financial goals!Let me tell you about myself. I am a second year law student, with a Bachelor of Science degree in Hotel Administration, and am a licensed real estate agent. I work for a
MOTIVATION 1970-01-01 00:59:59 By: M. Angioni IIOne of the biggest problems new entrepreneurs have is that they get discouraged. Some get discouraged more easily than others, but regardless of your tolerance level for disappointment, becoming discouraged is a natural emotion for all entrepreneurs. The difference between a successful entrepreneur and unsuccessful one is how you deal with the discouragement.I am going to be very blunt, not all of us will become successful. This is an economic impossibility! If everybody on earth had one million dollars, then having one million dollars is the norm. How can you be rich if everybody has the same amount of money? Wealth is not measured by an actual number; in other words, having a million dollars does not necessarily make you wealthy. My previous hypothetical proves this point. Wealth is measured by how much MORE money you have then everybody else. If 30% of the people on earth had one million dollars, 60% had a billion dollars, and 10% had a trillion dollars, th
COMMERCIAL REAL ESTATE…WHAT A MONSTER TO PERCEIVE! 1970-01-01 00:59:59 by C. CliffordCommercial real estate is a monster. However, it is a monster that can be a lot of fun with huge benefits. The question one needs to ask himself/herself when entering the field is, "am I going to tame the monster or am I going to be the one on the sideline watching and hoping I can control the beast?"You might be asking, why the hell is this guy acting like he knows something? The answer: I am that guy that works at one of the largest Real Estate Investment Brokerage Companies (REIBC) in the U.S. that interacts and is involved in annual transactions totaling over 60 billion dollars. That's right, I said BILLION with a "B" I know some people!But, if there is one thing I have learned in commercial real estate, it is the fact that it has two types of investors; the type of investor that has his/her shit together and knows what they are doing, and the type of investor that just has absolutely no clue. The saddest part of it all is the fact that so many investors ha Read more:PERCEIVE
THE ESSENTIALS 1970-01-01 00:59:59 I have written about two main types of business families. The first type is comprised of members that all have the same area of expertise, while the other type is comprised of members with different areas of expertise. As I mentioned before, both types are effective depending on what entrepreneurial venture you want to attempt.However, even if you have already established your business family, there are some extra "services" that will be essential to helping you create your fortune. First, you must possess EXCELLENT networking skills! Do not be afraid of making contacts, meeting new people, and taking a chance. Through networking, my business family member and I obtained a meeting with the Vice President of Restaurant Development with one of the LARGEST hotel corporations in the United States. How do you network? Well, let's start with the small and work our way to the big. Start small with people you work with, live near, go to school with, and/or associate with. These people ar
THE BUSINESS FAMILY 1970-01-01 00:59:59 As the old saying goes, "two heads are better than one" This holds the most truth in business ventures. New entrepreneurs are just starting their financial journey. Most of us have only a small amount of capital, but enough ideas to run an advertising firm for years. Some of us can make the entrepreneurial leap on our own, but most of us need a little help and support in order to make our dreams a financial reality.The business family is your group of similarly motivated individuals that help make ideas become realized. The reason it is called a family is because you MUST be able to trust the group you help assemble. Business partners can sometimes be untrustworthy or might only be out to achieve their own ambitions. One key to success is to be able to decipher between the two. Your business family is your most trusted group of associates that you can look to for support, help, motivation, finances, and/or ideas. In order to prevent any power struggles in the group, no one
START WITH WHAT YOU KNOW! 1970-01-01 00:59:59 by M. Angioni IIThis entire time, I have assumed that everyone who visits this site already has an idea of his/her entrepreneurial venture. It has been brought to my attention that many new entrepreneurs have no idea where they want to begin their monetary quest. Many new entrepreneurs are seduced by the idea of being financially secure, closing the "big deals," and making the "big bucks," that they listen to every idea and think that they are all good. This can be a COSTLY mistake! We are all here to try to increase our cash-flow and pad our bank accounts, but this cannot be achieved through trying EVRY new idea that is presented or by investing in a product because the creator of said product is a friend or a member of your business family. As new entrepreneurs we have to be EXTRA CAREFUL in where we want to START our financial journey.Start with what you know! If you are college educated with a B.A., B.S., etc. degree in, for example, English, do NOT dive into a real estate
BUSINESS IDEA OF THE WEEK 1970-01-01 00:59:59 Each week, or maybe sooner, I will present a small idea or business opportunity that will help you achieve your financial goal. This week, I present the idea of "free money!" Before you get too excited, let me explain. Some of us new entrepreneurs have a little capital lying around in a checking account, low yield savings account, or maybe under our mattress. The point is, while we are creating ideas and investments, the finances that we already have are not working for us or are not working as hard as they could. I suggest that you move your finances to an ING Direct Orange Savings Account. First, ING is not paying me to say this, but I do own an account with them and I am extremely satisfied. Second, your money will work for you while you create projects with your business family. Last, it's FREE MONEY! Here are the advantages:Easy setup. Just go to www.ingdirect.com and click on "open an account" Follow the on screen directions and you're done.4.35% NO RISK co
MENTORING 1970-01-01 00:59:59 by M. Angioni IISome people can dive into a project headfirst without first having received any guidance and without having a plan. The most amazing aspect of this approach is that sometimes these people successfully complete a project. This approach may work for school papers or group projects, but do not initiate this kind of mentality on an entrepreneurial investment. Even if you are one of those people who have succeeded in the past using this "attack first, ask questions later" approach, I implore you to reconsider doing the same for your first, and in fact, any investment.The simple solution, find a mentor. Talk to people that have already "walked the path that you are traveling" You might be wondering how and were to talk to these people. I have an answer for you.First, figure out exactly what kind of investment you would like to attempt. Accomplishing this will help you focus your efforts and questions to people who possess the expertise that will be most helpfu Read more:MENTORING
PITCHING THE PLAN 1970-01-01 00:59:59 by Marco Angioni IISo you have your business plan, now what?! Who do you pitch it to? What do you pitch? How do you contact the people who you want to pitch your plan? Although these questions can be answered in order, (investors; my business plan; and talk to them) preparation, planning, and persistence are key.Your plan is complete, but is it really? I suggest you review and revise your plan at least one more time before the pitch. You must make sure that EVERYTHING is correct. Think about it from an investor's point of view. Would you give your money to somebody who promises to take care of every detail, but at the same time misspells or misstates vital information in his/her business plan? Also, I strongly suggest you do a practice pitch. Pitch your plan to somebody you trust, but not to somebody that is going to give you a "sugar-coated" reaction. For example, you business family members, family members, and friends are out! Somebody that would be valuable to you Read more:PITCHING
BUSINESS PLAN FORMATION PART 5 1970-01-01 00:59:59 by M. Angioni IIThe Organizational Plan is not a long section in your business plan. The basic purpose of the Organizational Plan is to show the potential investor the hierarchy of your business. This section is NOT one of the main sections in your plan, but this does not mean that you should slop something together at the last minute. A basic Organizational Plan will have a chart that looks something like this:Your Organizational Plan will probably not include this many positions. All I am trying to show is the hierarchy of your company so that when a potential investor asks, "Who is in charge of X," you will be able to answer the question effectively.In addition to showing some type of visual chart, you should write a brief summary of what each job position will involve. You should have already written some of this information in your Management team section. Even if you have explained these positions in a different section of your plan, you should still give a descriptive narrat
BUSINESS PLAN FORMATION PART 6 1970-01-01 00:59:59 by M. Angioni IIThe Financial Plan is the part of your business plan that shows all the costs and possible revenues. Three main financial documents need to be in your Financial Plan, (1) the Start-Up Projection; (2) the Pro-Forma; and (3) the Break Even Analysis. Preparing each document is a labor intensive task. Therefore, I will discuss each document in separate posts.First, I will discuss the Start-Up Projection. This spreadsheet shows all of the costs associated with beginning your business or initiating your idea/product/concept. In preparing this document, you must account for all the possible costs associated with starting your business. Make sure you find support for your numbers. In other words, do not blindly state that it will cost $1,000,000 to start your business. You need to break this number down into its individual parts.In a previous post I wrote about the two types of potential investors. The two types pf potential investors are "idea orientated" investors and "
BUSINESS PLAN FORMATION PART 7 1970-01-01 00:59:59 by: M. Angioni IIOne thing to keep in mind with your Financial Plan, all of your numbers are speculation. Doing research is vitally important so that everything is accurate, but until you actual purchase something or make a sale, all of your numbers are, for lack of a better word, guesses. However, this does not mean that you should arbitrarily pick a number to include in your Financial Plan. The purpose of me telling you this is to remind you not to second guess yourself too much. You should recheck all of your numbers, and you should do hours of research to find accurate, credible numbers. However, do not beat yourself up if the numbers "do not feel right" For example, when members of my business family where working on the start-up projection for our Financial Plan, we felt that these numbers were too high. As such, we did more research and more than halved our original amounts. At the pitch, we were told that our original amounts were more accurate and that they in fact were s
BUSINESS PLAN FORMATION PART 4 1970-01-01 00:59:59 by M. Angioni II First, I would like to apologize for the long delay between posts. Second, I hope everybody had a great holiday season and a wonderful new year! A new year is a time for new beginnings. I know everybody has a New Year's resolution, but always remember to stay motivated and strive to accomplish the goals that you have set for yourself and your loved ones.And now, back to business! The Management Team section of your business plan consists of the information and experience of the persons who will be managing your idea/product/concept. The first aspect of forming this section is recognizing the various areas of your idea/product/concept that require management. This does not mean that you pick apart every single possible area of your idea/product/concept and assign a different manager for each. Remember, efficiency and effectiveness are key! A new small business does NOT require five different vice presidents. I know some of you may be laughing, but you would b
BUSINESS PLAN FORMATION PART 3 1970-01-01 00:59:59 by Marco Angioni IINow that your creativity has been tested and applied to the first two (or three if you have a tangible product) sections of your business plan, it is time for the hard work to begin!If you think about this logically, a business plan has a very natural progression. First, in the ES, you grab the investor's attention. You make him/her/it want to know more about your product. As such, in your Product Presentation section, you describe, in detail, your product from beginning to end. Next, the investor thinks to himself/herself, "How are we going to sell this product?" In response to this question, you wrote your Marketing Plan. Your Marketing Plan illustrates your plan to sell your product/idea/concept. Next, the investor is going to wonder, "Will this product/idea/concept sell?" In response to this query, you present your Market Analysis section.The Market Analysis section of your business plan presents data, figures, and market trends that prove that
BUSINESS PLAN FORMATION PART 1 1970-01-01 00:59:59 by Marco Angioni IIMany people in our community have asked me to talk about business plans. I decided that it was the next logical step and am proud to present the business plan series! Over the next couple of weeks I will discuss a different portion of a typical business plan. KEEP IN MIND, there are many different ways to organize a business plan and that sections have many different names. However, for the most part, each section in a business plan, regardless of name used, accomplishes a specific task. The importance of each section depends on the product/idea/situation you are pitching and to who you are pitching. I am only going to give you a general layout of a business plan. Could you use the layout I give you for a business plan? Absolutely, I have used this very format in some of my business plans. However, as I mentioned above, there are many formats. If you do not feel comfortable with my format, do some research and find a format you are comfortable with.With all
BUSINESS PLAN FORMATION PART 2 1970-01-01 00:59:59 by Marco Angioni IIAfter your ES, there are two different places you can take your plan. If you are pitching an idea, concept, or something intangible, then your next section should be your Marketing Plan. However, if you are pitching a product, clothing line, or something tangible, then your next section should be your Product Presentation. (NOTE: You can get creative with your section titles, but I caution you not to stray too far from the norm. For example, instead of "Marketing Plan," you can title your section "Marketing Campaign," "Customer Marketing," etc...)I will discuss the Marketing Plan first. The Marketing Plan is the section of your business plan that discusses how you are going to make the public aware of your idea/concept/product in order to accomplish your objective. Your objective can be whatever you want, as long as it pertains to the Marketing Plan. For example, if you are pitching a restaurant idea, your objective may be to achieve 100% occupancy every
BUSINESS PLAN FORMATION PART 8 1970-01-01 00:59:59 The third and final vital document to have in your financial plan is the Break Even Analysis. The Break Even Analysis is the document that shows your potential investors the minimum amount of sales necessary to have your company break even. Therefore, this "break even amount" will create no profit, but will mean you have no losses either. The point of this document is to help the potential investor analyze the viability of your Pro-Forma and your Start-Up costs. Remember, reaching the break-even point is NOT your goal! The break-even point should be your floor.The following is an example of a very basic Break-Even Analysis. This document is ONLY an EXAMPLE! As I mentioned, this document will be used to determine the viability of your other financial documents. You will also want to analyze this document. You may be surprised by the results. This document could help you adjust your product's price, your business costs, and/or your ideal revenue per available seat hour (for restaur
Business Plan Formation Part 9 1970-01-01 00:59:59 Business Plan Formation
Part 9After this long 9 part series, you should now have knowledge of the basic, essential business plan documents. The final step is to put everything together into a cohesive, easily understood plan. Sections you should include are: (1) all the sections discussed in this blog, as they apply; (2) a title page; (3) a table of contents; and (4) any ancillary documents that may be specific to your product/idea/concept. In order to easily explain certain formatting issues, the following represent some frequently asked questions:How long should the business plan be?The length of your business plan depends on your product/idea/concept. The more complex your product/idea/concept, the longer your plan may have to be in order to fully explain everything to your potential investor. However, I do caution that you not make the plan too long. What constitutes too long? If you find yourself repeating the same thing over and over, you may want to consider a revision. A Read more:Business
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Advantage Processors 1970-01-01 00:59:59 As New Entrepreneurs, many of us will need merchant accounts for our various business ventures. As such, you should check out AdvantageProcessors
. Advantage Processors provides low cost services and also high risk credit card processing.Merchant accounts are necessary for any person who wants to open a business. Could you image operating an internet business, or any business, without allowing your customers the option of paying with a credit card? You would lose vast amounts of sales! Operating a cash only business simply does not work anymore. Paper money is becoming obsolute and credit/debit cards will become the dominant form of monetary exchanges.On that note, catch up with the times and check out Advantage Processors. You will be glad that you did!
Seasoned Credit 1970-01-01 00:59:59 Good credit is an extremely important asset. Entrepreneurs are just one group of people that need to establish a good credit score. The truth is, every person needs good credit to survive in this day and age. Unfortunately, we also live in a time when identity theft is rampant. The Identity Theft Resource Center states that one study shows that identity theft cost businesses and consumers $56.6 billion in 2005! Due to this, you should always be aware of your credit situation. As such, you should check out Seasoned
Credit.Among other things, Seasoned Credit can help raise your credit score and also repair you credit. Even if you are not a victim of identity theft, you may, due to bad circumstances or "tough times," have a late payment or two on your report. Seasoned Credit can take care of these problems!Raise your credit score, and get better interest rates, higher likeliness of loan approval, and, most importantly, piece of mind. Check out Seasoned Credit today!
Discount Click 1970-01-01 00:59:59 Marketing is vital to a company's success. Due to this, an entrepreneur can soon find himself/herself in financial trouble with a new venture if he/she does not properly market his/her business. This is most true when starting and/or participating in an internet business. As such, you should check out DiscountClick
. Discount Click offers internet marketing, search engine optimization, banner ads, and many other services that are important in creating successful website promotion. Face it, without website promotion, an internet business is as good as dead!Visit Discount Click today to discover the many services they offer to jumpstart and maintain your internet business. You will be glad you did!
London Advertising Directory 2007-02-28 21:53:00 As we are all well aware, current technology makes conducting an international business deals so easy that they are an everyday occurrence. Keeping this in mind, I once wrote an article, "The Evolution of the Entrepreneur" that discussed alternative entrepreneurial ventures; specifically, the movie and music businesses. Because these two industries are viable options for entrepreneurs, advertising and promotion are paramount to success. Luckily, with the rise of social websites like MySpace, FaceBook, etc., promotion has become easier. However, we must not neglect marketing to overseas markets. As such, you should check out, London AdvertisingDirectory
. London Advertising Directory is a company that has just expanded to the internet. They provide links to the internet sites of the many London advertising firms. The best part about this service is that it is FREE!Another great asset that London Advertising Directory provides is that they also provide links to graphi
Pyramid Scheme vs. Multi-level Marketing 2007-03-03 00:52:00 Many people automatically associate a negative connotation with buzz words like “multi-level
marketing” and “downline.” These people assume that those words denote a “pyramid scheme” and that the opportunity attached to those words is a scam. However, this is simply not true. If you know what to look for and what to avoid, you will be able to detect a true “pyramid scheme” from a potential money making opportunity.PyramidScheme
OverviewA pyramid scheme is a non-sustainable business that involves the exchange of money, usually in the form of a sign-up fee, and usually has no product or service. Most importantly, pyramid schemes are ILLEGAL! The only people that are able to make money on a pyramid scheme are the people at the top of the pyramid. Source: http://www.sec.gov/answers/pyramid.htmThe above picture proves that pyramid schemes are unsustainable. As stated above, because these businesses offer no product or service, no possible way exists for the people at Read more:Multi
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How to Create A Business/Marketable Idea 2007-03-05 22:53:00 As you begin your entrepreneurial journey, many questions and concerns will arise: How do I find financing? How do I write a business plan? To whom will I pitch my plan? However, no matter how much information and advice you can, and probably will, obtain about those questions, all of your questions and all of the available information and advice are based on the assumption that you have already created an idea, product, or concept.What if you have not yet created an idea, product, or concept? Does this mean that you can never advance or achieve your entrepreneurial goals? Of course not! Although creating an idea, product, or concept can be one of the most difficult obstacles to overcome, it is not impossible and can be achieved rather painlessly.The main problem with idea creation is that ideas are subjective. What one person considers a great idea, another may consider a terrible idea. Another problem with idea creation is that if the idea is forced, it will not be completely thought Read more:Business
Our Friends Across the Pond 2007-03-07 00:08:00 If you are trying to introduce a new product, you may have to face the fact that the U.S. may not be best place to launch your product. For example, many musicians and actors/actresses get their start in Europe. As such, you may want to keep open the option of a European product launch. Understand that there are risks wherever you decide to launch your product, however, some of these risks can be alleviated if you have professional help.The London Advertising Directory can help you here. The London Advertising Directory provides a free listing of marketing, business plan, and advertising professionals that can help you in any stage of your product development, launch, and/or production. I suggest England as a possible product launch territory because of the ease of transition that most U.S., English-speaking entrepreneurs will realize. The London Advertising Directory can help you find the professional help you may need for an overseas start. An entrepreneur needs any advan Read more:Friends
, Across
Multiple Streams of Income 2007-03-09 05:14:00 Just like diversifying a stock portfolio gives you the best opportunity to make money by spreading your risk of loss, multiple streams of income give you the best opportunity to achieve wealth and success. The phrase “multiple streams of income” has been around for some time. You have probably heard it used in various wealth building systems and/or popular personal success literature. The logic behind the idea of multiple streams of income is simple. The more areas from which you acquire income, the greater the chance of success and the less the chance of loss. The goal of multiple streams of income is to build a large passive income and residual income.Passive Income
vs. Residual IncomePassive income is defined as: Income derived from business investments in which the individual is not actively involved.Residual income is defined as: Recurring income received after the initial sale is made.Income, as defined by the I.R.S. is: An undeniable accession to wealth that is clearly Read more:Multiple
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The Need for Wireless 2007-03-10 09:16:00 We all know that cellular phones are now the norm. Many people have even disconnected their landline(s) because cellular phone plans are much easier to understand and are more affordable. Besides the changes that have occurred in rate structures and calling features, the cellular phone has also significantly changed in size, shape, and technology. Cellular phones are getting smaller, lighter, and more intelligent. Convergence has taken over! Making a phone call is almost a secondary feature on all of these new phones. Wireless
internet, e-mail, text messaging, picture messaging, and MP3 player are just some of the features on cellular phones. The technology keeps advancing. However, as the technology advances, it is kept separate by Corporate America. You can only buy certain wireless products provided by your wireless carrier. But what if you want something different? Wirefly is the answer! Wirefly provides all the wireless products that you thirst for regardless of your s
Multiple Streams of Income: The Internet Part 1 2007-03-20 06:08:00 Let me start by saying that this multiple streams of income series is going to be long. There are going to be many posts over many days, but all should provide help and usefulness. We start with the Internet
.Entrepreneurs come in all shapes and sizes. Some have very specialized education, some are high school dropouts. However, all entrepreneurs share one distinct quality. That quality is the drive, the motivation, the desire to better our current situation. All of us share a deep seeded passion to create a better life for ourselves and our loved ones. As such, we have the talent to succeed in whatever venture we choose. Do not be discouraged if you lack a formal education or are attempting an investment in a new field. As long as you possess that deep seeded passion to achieve greatness, at whatever level, you will find your version of success.On that note, we begin with the Internet and the most obvious question, “Do I need a website?” There are two ways to approach thi Read more:Multiple
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Multiple Streams of Income: The Internet Part 2 2007-03-22 04:41:00 Instead of trying to pitch a specific product, I am going to give you many different options in which you invest your time and talents and can achieve a cash return. Keep in mind that most of these options will not make you a millionaire, however, all will provide you with some extra dollars if you have the desire to pursue them. Further, I am not saying that you cannot become a millionaire with the following options, all I am saying is that in order to achieve that level of income, you have much hard work to accomplish! As I stated in my previous post, there are many options one can pursue in order to obtain multiple streams of income. We are still talking about the Internet
. In this post, I will give you an overview of just some of the options available. In subsequent posts, I will discuss each one in depth. BloggingThe word “blog” is an abbreviation for the phrase “web log.” Think of a blog as an Internet diary that the whole world can read. People post personal th Read more:Multiple
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