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One way to get ahead


If you know where you want to end up you can start to see steps that will get you there. Do you want to retire independently and become a self-funded retiree? Do you want that cheque coming in the mail box each month from investments? Once you have an answer you can start to plan.  

One way to get ahead, setting yourself up to build wealth is to start your own business. There are many opportunities out there to be self- employed. You can free yourself and leave your job to be your own boss. It is possible to begin part-time by working from home. This will allow you to utilise skills that you have learned from your workplace and hence you can give your clients a more personal touch.

Opportunities are out there. Start with what you like doing. Ask yourself 'what am I good at?' If you like animals you could start a dog walking business. If you like shopping then consider starting a home shopping business for busy executives. Other businesses with a low start-up cost include home tutoring and writing.

Once you have your business up and running then a popular way to expand is to start networking with other small business owners in your community.Your business can get a significant leg up with strategic alliances. Business networking opportunities are everywhere. Consider networking as a way to open new doors and unforeseen opportunities.

A simple networking meeting involves all participants giving a one minute presentation on themselves and their business. Some people may be uneasy talking in public. It may seem daunting at first but it will soon become second nature. Everyone at the networking event is in the same boat. They are all eager to meet other business owners and make alliances. Forming strategic alliances with other businesses with the same client base is a winning formula. For example Real Estate agents, mortgage brokers, Financial Planners, Accountants, Building and Pest Inspectors, Lawyers and Conveyancers all have similar client bases.

Seek professional help at the start. Talking to a good accountant and certified financial planner will give you strategies for making the most of taxation advantages that business owners can employ. Setting up the correct legal structures at the start to operate your business will save you time and money in the long run. We all need to form alliances with people that will help us get to our destinations quicker.

This is only one way to get ahead but it is a feasible way to set yourself up to build wealth. Think about it. 

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Monday, 24 September 2018

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