These days, one of the biggest benchmarks of success is to make a million dollars. Everyone wants to do it, and most people will actually see around one million dollars pass through their hands throughout the course of their entire life. However, that trickle of money doesn’t really help you in the long run. What you need is a way to make that money as surefire income that you can use now.
One of the best ways to do this is to get into the investing game. While this may sound complex and overwhelming, there are tons of resources that you can use to amp your skills and earning potential. One of these tools is Ryan Moran’s 12 Months to $1 Million book, which provides a whole lot of tips and tricks for mastering an investing strategy called Amazon FBA (what a ton of our Rainmakers do for passive income).
Find out more about starting your own Amazon FBA business by joining The Rainmaker Challenge.
Start your year of big money by simplifying your life. Instead of thinking in terms of giant, overwhelming goals, break things down into chunks. Think of it this way: it might be standard to say something like “I’ll make a million dollars”, but it’s not very clear how you’ll do so. Instead, your process should be broken down into stages.
It’s up to you to determine what those stages will be. If it helps, write it down in a notebook and save it for later. You may even want to put up a whiteboard in your office or home and write your daily goals down. Remember: your daily goal shouldn’t be overwhelming. It should be a simple but concrete step towards achieving your yearly goal!
No matter what “obstacles” you see, don’t let them be excuses! There are plenty of reasons why you shouldn’t start a business. Competition may push you out of the market, saturation may prevent you from making money, but the ultimate bottom line is that you will never succeed if you don’t try!
Instead of worrying about “what ifs”, worry about the “how-tos”! Set a concrete plan and follow it, regardless of what people say. You’ll encounter challenges and be pushed out of your comfort zone, but that’s part of the learning process.
Pessimism is the downfall of the greatest of empires. No matter what happens, stay positive! Nothing is a failure, it’s just a learning opportunity. Even when things are tough, look ahead and think about the future you see for yourself. Think about where you’ll be once you’re successful.
The first step to success is to plan ahead. Always anticipate what will happen. Stock for the future, invest in innovation and find areas of concern that people haven’t noticed yet. No matter where you’re planning to find some extra cash, your goal is to predict what people will need and when they’ll need it.
For example, a smart store owner will order more goods leading up to the holidays. This is because people dramatically increase their spending habits during these crucial winter months. As a result, it’s better to have some backstock than to run out of inventory in the middle of a seasonal rush.
Depending on your business, you’ll also want to consider planning for the future of your family. In areas such as investment, for instance, you want to have plans in place for what happens to the funds if something happens to you. Make sure your family is secure because that’s the ultimate goal.
No one experiences success by themselves. There’s always a network, regardless of whether or not they’re legally related to you. We once heard it said, “broke people think HOW can I do this…wealthy people think, WHO do I know who already does this?” If you lack knowledge in one area, someone else will know about it. Reach out to them and get their help!
For people selling physical products, this step is particularly important. You want to find like-minded folks and bring them on board your ship. SendWoman out free samples to hype up new products. Encourage people to leave reviews and post photos of their purchases. The more exposure your business has, the more people will notice you and want to invest in you.
This step also expands your network. No matter what field you’re in, it’s essential to have a strong network you can call upon when things get tough!
The most successful people are those who never stop learning. This advice doesn’t just apply to business. Learn more about the world, too! This will help you nurture yourself as a person and, by extension, foster a love of learning in your children. Leading by example is the best way to ensure the future of your business and your family, so make sure you’re modeling an active participant in the world around you.
Learn more about starting your own Amazon FBA business from home by joining The Rainmaker Challenge.