| When you are evaluating
or investing in a business, or developing an IGA what are the
characteristics and benefits to you that you would expect?
Would you want to invest in a company/industry that
is growing? Or would you want to invest in "8 track" tape
manufacturing?
What Benefits are you looking
for in a business or Income Generating Asset?
 | More free time (e.g. family, friends, volunteer
work, elderly parents) |
| More money (e.g. retirement, college, house,
car, quit job, charitable contribution) |
| Recognition |
| Work from home |
| Travel |
| Better health |
| Own your own business |
| You can never be "laid off" or
"fired." |
| Significant tax benefits |
| Develop multiple
Income Generating Assets |
While everyone is different, here are a few
characteristics that many have indicated are important in
evaluating a business investment:
| The Products are proven and are effective |
| The Products add real value to the people who
use them |
| The Company is financially sound |
| The Company has been in business for several
years |
| There are no territorial limitations to the
business |
| The Industry is growing rapidly |
| The Marketing plan is
simple, effective and very profitable |
| The Training and Support system is extensive
and effective |
| The products are proprietary, affordable and
profitable |
| There is Royalty income |
| Cutting-edge Technologies |
| Low overhead |
| Minimal investment |
(The businesses listed
on this site have many if not all of the above
characteristics)
You can obtain financial freedom - IF YOU
REALLY WANT IT!! and want it enough to work hard and
DO SOMETHING DIFFERENT THAN WHAT YOU HAVE BEEN DOING!!
But why would you want to be financially
secure (or maybe you just want to make your house or car payment)?
You may think this is a strange question.
However, if you do not have a good reason for changing your
current situation it is very unlikely that you will have a good
enough reason to weather some difficult times that most people
face when they grow or change their economic condition. My suggestion is to list what you
"WANT" and then ask
yourself (honestly) - "Are my reasons important enough to
me to make changes in my life?"
Also,
ask yourself the following questions (they deserve an answer)!
| Everyone is trading their life for
something, what are you trading yours for? |
| In your current situation, who derives the
most reward from your efforts? |
| If you were financially free, how would
you spend your days? |
| If your annual income became a monthly
income, what is the first thing you would change? |
| How are you going to obtain this? |
Are you ready to be
the "CEO" of your life?
| Are you self-reliant? |
| Are you good at managing your
time? |
| Are you good at structuring
your own schedule? |
| Do you prefer variety over
monotony? |
| Are you ready to gain new
skills? |
| Can you live without the
politics of an office? Corporate hierarchy? |
| Can you adjust to the freedom
of working where you want, when you want, how you want? |
Most of the above are
"learned" traits or behaviors.
Years ago "Ma Bell"
(a.k.a. AT&T) coined the slogan: "The System
is the Solution."
Essentially this means that you
need a simple, duplicable system to be successful. If you
think about it, without a simple: accounting, marketing, sales,
training, business SYSTEM, businesses would be in chaos. All
successful businesses and investors have simple "systems" that
they follow.
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