Five Habits of Millionaires

According to a study of college students at the Ernst & Young International Intern Leadership Conference in Orlando, Florida, 59 percent of these young leaders expect to be millionaires within their lifetime. What's more, 5 percent of them expect to hit the million-dollar mark while in their 20s.

And the super-rich are a growing group. The top 0.1 percent of the population's average income was $3 million in 2002, up two and a half times the $1.2 million, adjusted for inflation, that group reported in 1980.

Earned Money vs. Easy Money

Easy money usually comes from inheritance or luck, such as winning the lottery. The track record of people who get their money through the lottery or other windfalls is usually very different from those who created their wealth themselves or who planned for an expected inheritance. Lottery winners are often a sorry lot; more than 90 percent use up their winnings within 10 years -- some go through their money in weeks or months.

But there are some consistent patterns among those people who earn or plan to inherit their money, and these five strategies may be worth emulating.

1. Avoid the Earn-to-Spend Mentality

Michael LeBoeuf, author of The Millionaire in You, points out that to increase wealth, it's essential to emulate millionaires who view money as something to save and invest, rather than income to spend. Many wealthy people live quite simply, he points out, choosing less pretentious homes than they could theoretically afford and opting for financial independence over material showmanship.

2. Focus

LeBoeuf also counsels resisting the impulse to be scattered in your efforts and interests: "Winners focus; losers spray." And goals that are clearly written down are easier to keep in focus.

3. Do Whatever Is Necessary to Meet Your Goal

People who earn their millions are able not only to focus but persevere in the pursuit of their goals. One single mom entrepreneur, Melissa Clark-Reynolds, started her first business, a health and safety consultancy, when she had a young son. En route to her goal of being a millionaire by age 35, Clarke-Reynolds and her son ate lots of pizza, did homework late at night and often slept at the office. She is now a chief executive mentor for Empower New Zealand, a global business consulting firm headquartered in London.

4. Take Calculated Risks

You have to take strategic risks to earn and grow money. And a little rebelliousness seems to help too. One interesting study found a majority of male millionaire entrepreneurs had been in trouble with school authorities or the police during their adolescence.

5. Be Generous

And why doesn't it surprise us that millionaires are often very generous? Sometimes it's for the tax breaks, obviously, but often it's not. One Jewish Swiss millionaire, for instance, flew to Israel to give $5,000 in cash to a waiter at a Jerusalem café who foiled a Palestinian suicide bombing. Among the most generous of millionaires are those from North America, who are, according to a Merrill Lynch Cap-Gemini report, two to five times more likely to give to causes they value than their European counterparts.

These five habits are a pretty good prescription for living happily even if you're not a millionaire.

But LeBoeuf insists it's not so unusual to be a millionaire. As of 2004, there were 8.2 million households with a net worth of more than $1 million. And are the folks in those households happy? Yes, says professor Andrew Oswald of the University of Warwick in the UK. After studying more than 9,000 people over eight years, Oswald concluded that people who come into money are happier. The happiest among them, he says, seem to be "highly educated, well-paid women who have jobs."

And how much money does the professor say it takes to be happy? "About $1 million, give or take a little."



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Franchising Business

One way to becoming wealthy is to franchise a business. The good thing to franchise a business is that the business is already proven and successful. You'll just have to copy the business system. But before you get into franchising, be sure to have a feasibility study of the business your'e going into. Ask questions and if possible, consult a legal counsel.

Franchising in the Philippines began in the 1980s, with the sector predominated mostly by foreign franchise companies. From around 20 foreign and local franchises, the sector rapidly grew, with the figure reaching around 1,000 by 2008.

The growth of franchises has been helped by the various programs undertaken by the Philippine Franchise Association (PFA), which is a voluntary self-regulating governing body for franchising in the country. Established in 1995, the PFA now has 180 franchisors and allied members nationwide and is currently the country’s biggest franchise association.

PFA members are bound by the Fair Franchising Standards (FFS), a Code of Ethics which the Association developed, ensuring that they commit themselves to respect and to apply fair set of provisions in the conduct of the sale of their franchises, protecting both franchisors and franchisees.

With over 90% success rate, franchising has evolved as a business model primarily identified with minimal risk. This, in turn, makes franchising a most preferred strategy that guarantees countless opportunities for all entrepreneurs.

Through this booklet, PFA aims to help increase the level of awareness in the MSME sector, even the aspiring entrepreneurs, on franchising as the best strategy to achieve rapid business expansion, while maintaining high survival and sustainability rates. Recognizing the significant roles that MSMEs play in national development, PFA continuously links the franchise advantage to the MSME sector in the hope of retaining greater economic activity.


What is franchising?

Franchising is derived from the Old French word “franc” which means right or privilege. It refers to the method of practicing and using another’s perfected business concept. This duplication of a successful business involves two legally independent parties – the franchisor and the franchisee.

In a franchise relationship, the franchisee is granted the right to market a product or a service under a marketing plan or a system that uses the trademark, name, logo and advertising owned by the franchisor.

As a contractual agreement for the franchisee to use the franchisor’s business, operating and marketing strategies, franchising establishes a relationship with a successful business allowing entrepreneurs to use and capitalize on its proven system and name.


What are the different types of franchising?

There are two different types of franchising – product franchising and business format franchising.

Product franchising, also known as trade name franchising, is that type of franchising wherein a manufacturer grants a franchisee the right to sell its products, but with no method of doing business. Examples of this type of franchising are car dealerships and service stations. Product franchising usually peg royalty collection on a product basis and not on gross sales as compared to business format franchising.

A more complex form of franchising is the business format franchising. Also identified as a name and process franchise, this format features a broader and ongoing relationship between the franchisor and the franchisee. Aside from granting the right to use the name and market the products and services of the franchisor, the franchisee is also provided a complete plan for managing and operating the business – a transfer of the proven way of doing business that has been developed by the franchisor. This plan often includes a full range of services, including site selection, training, product supply, marketing plans and even assistance in obtaining financing. All of the franchisor’s operating systems, technical expertise, marketing systems, training systems, management methods and essentially all relevant information, are transferred to the franchisee.

Business format franchising offers franchisees the advantage of a proven trademark and formula of doing business, as opposed to having to build a new business and brand from scratch. Franchisors are also able to expand rapidly across countries and continents. Franchisees are offered significant training, which is not available for free to individuals starting their own business.

In this arrangement, franchisors typically control how franchisees conduct business to ensure uniformity. Though these controls may significantly restrict the franchisee’s ability to exercise its own business judgment, the end result is to the benefit of the consumers because certain standards are maintained. To this end, franchisors may require the franchisee to operate in a particular manner - operation during certain hours, using only pre-approved signs, employee uniforms, and advertisements, or abiding by certain accounting or bookkeeping procedures. The franchisor may also require the franchisee to purchase supplies only from an approved supplier, in order to ensure that the consuming public does not suffer from inconsistency in product quality.

With the means of distributing goods and services perfected, rapid expansion of a successful business concept occur more quickly. Modern day franchising is primarily in the business format mode, accounting for around 90% of franchise businesses worldwide. PFA is an association of franchisors who are into business format franchising.



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Home Based Business Can Make You Wealthy

Running multiple home based businesses can be a great way for you to becoming wealthy. Many people fail to take full advantage of the perks offered by having a home based business. Having your own home based businesses can make you extremely wealthy. Wealthy is not being rich, they are two different things. Many focus on just becoming rich when in fact being wealthy is what you should strive for. What is the difference between the two? Simple being rich is measured in money and being wealthy is measured in time. The way to measure your wealth is this, if I were to lose my job today how long would I be able to survive with my current lifestyle? Do you see the difference? If not do not worry I will go into more detail in this article.

You see you must think of your finances in terms of what is relative to you. Do not think about anyone else’s finances, just focus on your own. I hear many people say if I could only make an extra $10,000 a month or if I had an extra $50,000 dollars, all of my financial problems would be solved. A majority of the time this is completely false. See a majority of the time when people make more money their expenses go up and they are right back to where they were when they first started. The only difference then is they are making more money. This is what I call focusing on being rich. When you hear people brag about how much money they make or have, you have to remember it only tells half of the story. Let me give you a little example.

Let’s say Tom was making $50,000 dollars a year working for XYB company. Tom’s expenses were around $65,000 a year. Tom figured if he could get a raise at his job, all of his financial problems would be solved. Tom finally got his raise, a whopping $150,000 dollars a year at XYB company.

As soon as Tom received his promotion he felt like he had to keep up with the times and he realized the taxes were pretty high for that bracket. So he decided to buy a big house and a nice sports car. Before Tom knew it he was back to living in debt. He was spending $200,000 a year and only bringing in $150,000 a year. He was back to the same place he was before, so like most people he figured he needed a another bigger raise.

Now is the typical lifestyle many people today are dreaming about. What is wrong with this? Everything is wrong with this. What were to happen if Tom were to lose his job? Due to company downsizing or if his job were to be exported overseas. Tom would be done and would most likely have to settle for a huge paycut working somewhere else. If you don’t believe me visit your local unemployment office.

Now if Tom were wealthy he would not have to worry about this. Your wealth is determined by this, if you were to never work another job again, how long could you live your current lifestyle with the money in your savings account or the income from your assets? If you could only live 6 months without working then your wealth is only good for 6 months. I’ll let you in on a little secret, the reason why the rich get richer is because they spend their time building assets which produce money for them. So they never have to work for money.

Building a home business is a perfect example of building a valuable asset for yourself. Many people have no assets what so ever, all they have is a job. Many people consider their house an asset because they can save money on taxes by owning a house. This is completely false because your house does not produce an income. And for those of you who want to make over $170,000 working a job, well the government takes the tax benefits you would normally receive while owning a house.

If you truly want to become wealthy it is simple build assets for yourself. Reinvest your money into more assets and let your money work for you.



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7 Easy Methods on Blogging for Wealth

There are many ways to become wealthy. Blogging for money is one of it. It is actually pretty easy and simple. If you love to write you can make a decent living with your blog. There are a few key points to focus on when considering the possibility of blogging for wealth, the first one is diversity. It is hard to make a decent amount of money on a regular basis with a blog if you only employ one method of monetization. Monetization Methods

1) Adsense: This is perhaps the most commonly seen form of blog monetization. It is easy to start, you don't have to do anything at all after you have it set up, and it has the potential for earning you a reliable amount of money and is facilitated by a reputable company—Google.

2) Paid Blogging: This seems like a no-brainer but there are a few different ways to make money creating paid posts. There are several companies online that will have opportunities for you to write posts for pay. The two main differences to look for when considering this type of work are the form posts need to take when doing the opportunities from those companies: freeform, or advertorial. Freeform type posts are easier to do because you can write about any subject that interests you so long as it includes a particular keyword or phrase with a link. Those types of posts also keep your blog from looking like one big billboard and that will make your readers happier, and your traffic up.

3) Affiliate Links Programs: These are gaining popularity amongst blogging for wealth community because they allow bloggers to choose the types of links they put in their posts or sidebars making them more focused on the subject of their blogs. You can usually find affiliate opportunities at any company selling items online, or one of the many affiliate 'brokerages' that will not only keep track of your link sales but pay you directly in a lump sum for all of your links at once rather than having money filtering in from various companies individually.

4) Asset Sales: If you know a subject well and can write about it consider developing your own eBook on the subject and selling it from your blog. Your readers already know you, like your style of writing, and are probably interested in the same things you are so will pay for the information you know about it. EBooks are easy to put together and sell online with, or without a publisher and you can often do the entire thing yourself saving you a great deal of money and earning you a good income from sales.

5) Paid Blogging Networks: This is a slightly different way to make a profit blogging for wealth. Instead of using your own blog or blogs you join a network that hosts a blog for you and pays you a portion of sales proceeds from links they place on your blog. All you do is post regularly and encourage readership and receive a tidy check on a regular basis for the effort. It is one of the simpler forms of blogging for money.

6)Donation Buttons: Don't want to advertise or sell banner space on your blog? Just ask for money. How simple is that? Set up a PayPal 'donations' button and get money sent to you by appreciative readers. It works, and it is just one of the many ways to start blogging for money.

7) Blog Flipping: This is one of the more unusual methods of blogging for wealth as it doesn't actually involve advertising anything at all. People who flip blogs are much like people who flip houses, they open a blog, build it up, make it pretty, and then when it is in a good position to make money, that means it is old enough to join companies that will pay the owners to blog, popular enough to sell banner ads, or link ads, they sell it to someone who wants a blog that is ready made to do the work.

So, the steps are laid out to you in plain english. Now you can start on tracking the path to become wealthy.


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Work at Home Business Income Program: the Shortcut to Financial Security

Do you have a work from home income program that you currently promote?

Are you doing any affiliate program?

Have you achieved any meaningful success in the work from home internet program which you’re doing?

Do you desire a financial security, freedom and success?

Read on, to discover how to succeed in any make money from home business program and create true wealth.

Most people are like the hound dog which lies on its back and howls all day because of pains and feels lazy to get up and do something about it.

They waste their time and lives in dead end jobs that they hate.

Some dabble in various work at home business income programs.

They seem to think that their lives are like a TV show which will have a happy ending.

So they stay in the same job for years, waste their lives and whine.

Like a hound dog.

Some of them will retire, but will walk around for the rest of their lives wounded and miserable because of the stress they accumulated from their jobs.

The others will get downsized, and end up in the skid row, where they will continue howling and whining for the rest of their lives, unable to figure out where their happy ending went.

You don’t have to be a hound dog because you can do something about your current financial situation.

Most people desire to earn money from home for various reasons.

Some people are tired of working hard at their jobs and desire to earn money from home in order to escape from the 9-5 job rat race.

Other people desire a work at home business income program so as to earn extra incomes to supplement the money they make at their jobs.

Other people desire work from home income opportunity because of the comfort and freedom of working from their homes and the power it gives them to control their financial destinies.

There are some people who have bought a work from home business program because they are retired and need something to keep them busy.

When the internet gold rush happened about 7 years ago, millions of average people all over the world rushed into different types of work from home business programs because they bought the internet hype of get rich fast.

Millions of companies were born overnight and they began to offer free affiliate programs.

Millions of people signed up with the mistaken notion that just by signing up and getting a free website to promote a work at home business program will make them rich over night.

This gave birth to various internet promotions and marketing.

One of the most annoying internet promotions was spa-mm-ing.

This in turn gave birth to anti-spam activism which has almost wiped out spamming.

After 1 or 2 years, most of these millions of people who rushed into work at home business income program had to admit failure because they were not making any money.

Their dreams of fast internet wealth were shattered.

As a way to console themselves, they started labeling every work from home business opportunity as a scam.

Most of these people will buy a work from home business program or e-book and after they download or receive it will claim that the work from home business program is a sc-am (even though they have not tried it yet and have no proof) and apply for a chargeback and a refund so as to eat their cake and have it also.

By so doing, they ripped off the sellers of these work from home business opportunities.

While some of the companies who promote work from home business opportunities may sometimes engage in deceptive advertising, it is not true that all work at home business income opportunities are scams.

Most work from home business income opportunities are valid and can make the buyer a lot of money.

The problem is that most people who buy work from home business opportunity are not capable of doing them because they are not business oriented.

Most of them don’t have a clue about marketing and internet promotion.

Most of them buy the programs or sign up in free affiliate programs and after they get the websites they don’t do any serious marketing.

A lot of these people don’t even know the difference between selling and marketing.

Some don’t even know how to write a simple business letter or e-mail.

They write an e-mail without beginning it with a salutation and at the end of the e-mail, they don’t include their names or phone numbers or physical addresses.

When they phone you and leave a message on your answering machine, they don’t even know that they have to state their names, the reason why they called and their own phone numbers and the best times you may call them back.

Most don’t even know how to create a folder or save or upload a file or install a software and yet they had signed up in 100 different affiliate programs and work from home business opportunities and had dreams of making a million bucks overnight!

Is it any surprise that these people fail miserably?

The least that any serious business person should know how to do should be how to write a business letter.

Most of the people who fail to earn money from home business internet program have no discipline and are disorganized.

They have the mistaken notion that working from home and doing a work at home business opportunity program means that they can wake up anytime they like and that they can choose whether to work or not and when to work or not.

They fail to realize that doing a work from home business program can be more demanding than doing a regular job.

Doing a work at home business program requires more discipline and competence than a regular job because you may have to do many different chores all by yourself because at the beginning, you probably will be working alone and may not be able to hire helpers.

This means that you may have to play many roles and do so many things all at the same time.

You may be forced to become a website designer, a copy editor, a sales person, a customer service person, a spokes person, an attorney, a book keeper, an accountant and a publisher all at the same time.

This is one of the biggest reasons why most people fail in work from home business opportunity because they are unable to play all these roles at the same time.

Another reason why most people fail in work from home business program is that they don’t spend enough money to promote it.

To attain success in any work from home business program may require that you spend thousands of dollars.

But most people spend $25 a month to place an ad and if they don’t make any sale, they conclude that the work from home business program doesn’t work and give up.

To succeed in any work at home business program may require that you do different types of marketing and internet promotions.

Your website must be optimized and competently submitted to both the major directories and the search engines on a regular basis.

You must have a link exchange program that is effective.

You may have to do pay per click campaign.

You may have to do both online and offline marketing.

You may have to do many press releases in order to get free publicity and generate free traffic to buy your work from home business program.

You may even have to do direct marketing to drive traffic to your websites.

This depends on what type of product or service that you promote.

You may have to go offline to find the targeted customers who need what you promote.

To succeed in doing this, you must know how to locate a targeted mailing list and how to test it.

You may have to do magazine and newspapers advertising too.

Above all, depending on the type of product or service that you’re promoting, it may take time for you to start seeing a return on your investment and to become profitable.

Unfortunately, most people that get into work from home business opportunity lack patience because they are looking for quick ways to make money.

For that reason, they don’t do enough marketing and internet promotion and don’t network and don’t spend enough money to generate traffic and so consequently they fail.

But when they fail, they are unable to admit that they are at fault.

Instead they blame the work from home business opportunity and the company who sold it to them and label all work from home business opportunities as sc-ams.

May these insights about work from home business internet income business programs open your eyes to the possibility of infinite wealth and success which can be yours.



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How to Get Wealthy and Achieve Financial Freedom

If you think that you can not get wealthy during your lifetime, then you have some serious thinking to do. That is because it is highly possible to grow your personal riches, become wealthy and achieve financial freedom. All you have to do is to understand how money can work for you and look for ways to grow the resources available to you now. So here are some practical ideas that you may find useful so you can become rich, wealthy and financially successful.

The first thing that you have to do in order to get wealthy is to understand the dynamics and the real meaning of money. For most people, money is a material thing that you can earn easily and spend easily. This mind set will not help you to grow your riches. You will just end up working as a typical employee all your life struggling to overcome perennial financial difficulties. You have to understand that money is not just a simple thing that you can spend. It is a tool that can work for you. You have to treat money as your employee that can bring you great riches. So the more you save money, you are also building up your own army of employees that will work for you unquestionably. Every dollar you save is one additional employee for you. This should be your mindset so you can truly appreciate the value of money.

Investing is also a key to get wealthy. However, you need to understand that before you can invest big, it is important that you start small. You should not discount the power of starting a small investment in order to grow your riches. Remember, everything in this world started from number one. And every massive army that conquered many territories started from one soldier. This is also true when you start investing. Do not overwhelm yourself with big ventures that you do not have the capacity to sustain. You must start with a venture that you can easily manage and afford. From these small beginnings, you can now work hard to grow your business one steps at a time. If you do this systematically, then it is just a matter of time to see the fruits of your success.

Lastly, you need to maintain strict financial discipline at all times. Even if you are starting to see great profit from your business, it is not a license for you to spend like there is no tomorrow. You still need to save so you can accumulate more capital to expand your investment. You must reinvest your money and forego lavish personal spending. If you have a debt, then you need to use your profits to wipe out all your financial obligations. Once you develop strong financial discipline and continue to practice wise financial management, then it would be easier for you to grow your riches and get wealthy in no time. These are the essential ingredients to grow your money, get rich, and attain financial freedom for the rest of your life.


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How to earn in Google Adsense

Do you still doubt that you could earn money online (internet)? Heard of Google Adsense but is so skeptical or just so hopeless with it? That’s what I’m thinking for about 2 yrs and 6 months! Well, not now, just received my first google adsense payout thru Western Union. Finally, I can say that it’s true!

Google Adsense earning Thanks to google for such great advertising and publishing program. This is one passive income that anyone can have! I know, there are many out there who are earning big bucks thru google adsense, they are just so lucky enough to be receiving every month with thousands of cash or even becoming an instant millionaire-passive income.

What is Adsense?

AdSense is an ad serving application run by Google Inc. Website owners can enroll in this program to enable text, image, and more recently, video advertisements on their websites. These advertisements are administered by Google and generate revenue on either a per-click or per-impression basis. Google beta tested a cost-per-action service, but discontinued it in October 2008 in favor of a DoubleClick offering (also owned by Google).

How it Works?

• The webmaster inserts the AdSense JavaScript code into a webpage.
• Each time this page is visited, the JavaScript code uses inlined JSON to display
content fetched from Google’s servers.
• For contextual advertisements, Google’s servers use a cache of the page to
determine a set of high-value keywords. If keywords have been cached already,
advertisements are served for those keywords based on the AdWords bidding system.
(More details are described in the AdSense patent.)
• For site-targeted advertisements, the advertiser chooses the page(s) on which to display advertisements, and pays based on cost per mille (CPM), or the price advertisers choose to pay for every thousand advertisements displayed.[9][10]
• For referrals, Google adds money to the advertiser’s account when visitors either download the referred software or subscribe to the referred service.[11] The referral program was retired in August 2008.[12]
• Search advertisements are added to the list of results after the visitor performs a search.
• Because the JavaScript is sent to the Web browser when the page is requested, it is possible for other website owners to copy the JavaScript code into their own webpages. To protect against this type of fraud, AdSense customers can specify the pages on which advertisements should be shown. AdSense then ignores clicks from pages other than those specified.



What niche to target?

Personally, on my observation, it’s best that your site caters to a certain niche. Example: sites dedicated solely about money, credit, cars, travels and hotels, food, celebrities, religion, gadgets, book reviews, etc. It has something to do with relevant contents that you publish in your site. Some niches mentioned above might generate high-paying ads.

So far, sites with contents related to financials, health, cars and credit cards have high cost per click ads. Of course, it’s important that your site has high traffic or the number of visitors that might stumble or be directed to your site. The many visitors/readers, the greater chance that they will click on our google ads with related topics on what they search online. It’s good to maintain a good content and utilization of certain keywords.

How to utilize keywords?

If you have travel a site, you may explore the use of keywords related to it such as travel, tours, hotels, hostel, trip, vacation, flight, tourist, destination, etc. Many people are searching these terms in google.
You have to observe on what they call Keyword density. This means the many times you use the keyword in your article. It’s computed by dividing the total number of keyword used over the total number of words in the article. It is recommended that you maintain a 3% keyword density. Example, the word: travel. It should appear thrice (3x) in article of 100 words.


It’s suggested that the word may appear in the first sentence of your paragraph, anywhere in your middle paragraph, and in the last sentence of your last paragraph. Basically, just fairly distributing the keyword all throughout the article.

This is just one of the many Search Engine Optimization (SEO) techniques in making use of google adsense. Just simply have your own site on a particular niche. Learn the basic of adsense and it’s techniques. Voila! You have now your own passive income online thru google adsense. Will be discussing more on SEO and adsense tips and secrets to be shared to you. Good luck!


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Why The Rich Get Richer and The Poor Get Poorer

I'm sure that you have heard the old saying that goes, "The rich get richer and the poor get poorer". Well, there's a reason why the saying exists, and that's because it is 100% true. The rich do get richer, and the poor do get poorer. But why is that?

First lets take a look at why the rich get richer. The rich have their money working for them. So, they don't need to work in order to make money. Their investments provide them with capital gains or passive income. The rich focus primarily on "capital gains" and "passive income" instead of "earned income". The rich are constantly creating and building assets with the money they have. They create or build more assets to provide them with more sources of passive income. The rich don't need to worry about layoffs or taking days off because they don't work for their money. Remember, passive income is the key to becoming wealthy.

The poor on the other hand focus too much on "earned income". The main source of income for the poor is "earned income", and it usually remains the same amount for a long period of time. In the meantime, the expenses of the poor generally increase over time. A new child comes along, medical bills need to be paid, gasoline prices keep going up, taxes go up, etc. And while all this is happening, the amount of money from a poor persons earned income remains that same. That's why the poor get poorer. The make barely enough in earned income to cover their expenses. The rich on the other hand make well more than enough in passive income to cover their expenses.

If you focus too much on "earned income", you can start making the transition to financial freedom by learning to invest for capital gains and passive income. The poor just keep getting poorer because most of them are afraid to make the leap from earned income to passive income. They are addicted to their earned income, and jump for joy whenever a raise or promotion comes about. Don't become addicted to earned income.


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