Finandom dot Com

I found that there are a lot of discussions on the financial advices from both Robert Kiyosaki and Suze Orman. Both of them are right and have their own point of views on personal finance. So before you take any advice from them, why don’t you know the difference of their advices? If you want to know the difference between Robert’s and Suze’s personal finance advice, then you must read the following paragraph:

 

I think it’s the other way, really, both Robert and Suze are right, because they’re talking to totally different sections of the population and using it a totally different way. If you look at what Robert talks about, he says right up front that Real Estate is a capital intensive system of investing. That’s why he talks about getting a successful “B” business up and running first. Robert’s target market for most of his real estate strategies are based on the idea that you’ve taken steps first to have an overflow of cashflow or a large sum of free cash from businesses and other vehicles. Are there ways and people that can jump into this sort of investing without having done that first? Of course, there are so many ways to structure a deal it’s overwhelming at first. So I’d say that the philosophies here are not necessarily in direct opposition but meant for different people with different levels of risk aversion and income models.

From what I’ve seen, Suze talks mostly to the debt-heavy people that need help getting their financial house in order. Of course she’s going to be more conservative, these people need that kind of conservative approach before they can go into anything else. If you can’t handle the basics of a checkbook, then you’re definitely not ready for investing or business.

Robert’s basic idea is general financial education and changing how you view money, but I’d consider most of his real estate advice to be specific to people that have secured capital and have a good deal of cashflow coming in or at least a good pool of disposable income. The reason he tells you to start with small deals isn’t because he’s expecting you to start with little money (though you can and he says he did), it’s so you can learn the basics without spending a big chunk of your pool. Like that “Turn 40 Dollars into 400″ business thread in one of the other forum topics. He says on several audio tapes and in several books that he doesn’t really subscribe to the zero down school of investing.

That’s my take on their approaches, at any rate. I could be wrong, but the only way to know for sure would be to ask both Robert and Suze directly. So really, I think it’s a different reality they’re coming from and they do deal with different rules in the end, though I think a lot of the fundamentals are the same.

But that also means that what you’ve posted here is probably going to be very useful to others who are in a position to use that knowledge when appropriate. Thanks for sharing that, I definitely learned something reading it.

Well, I really agree that Robert and Suze are concentrating on different markets. The theory of Robert Kiyosaki is more on how to invest your money and then retire rich and financial free. On the other hands, Suze Orman is trying her best to help those in financial disaster and deep in debts. To make it simple, Suze Orman is helping people in financial negative to get back to financial positive and Robert Kiyosaki is helping people to be more positive.

 

For those in financial disaster or just in a stage of “break even”, they may feel that Robert’s advices are too risky. Of course, don’t you think it will be risky to invest especially you are in deep debts? However, if you are in a security stage or comfort stage where your personal finance is under control and have a stable extra income, Robert’s advices may help you.

 

Source : Richdad.com

 

Achieve Financial Freedom, MISC What I Learn from Others

You are tired to work for anybody again and have decided to run a business. You did some research and found that there are 2 choices for you to start a business. You can either buy a franchise or start your own business from 0.

 

So which one to go? Well, I wrote this article because I want to help you making the best decision for yourself. Basically this article is talking about the benefits comparison between a franchise business and a new business. I hope you can get the idea after reading this article.

 

5 Benefits of Buying a Franchise

 

Let’s see the advantages of buying a franchise:

 

1. There are always someone ready to help you

If you buy a franchise, your franchisor is ready to help you. You will receive a full training in the operation of your business. If you encounter any problem, your franchisor will support you.

 

2. A ready Business System

Usually, Franchise business model is a proven model. The business system is proven money-making and the accounting procedures are easy to follow. All you have to do is manage the system and make sure it runs correctly.

 

3. Sales & Marketing make easy

You can benefit from the national marketing. Your franchisor will handle all the sales and marketing for you. So this will be benefits if you are new to business and weak in sales and marketing.

 

4. Enjoy the power of Brand Name

Some well established franchises provide a market awareness & brand name to their franchise. So you can enjoy their brand name effects in the market and operate your business.

 

5. Staff Recruiting make easy

Employees are the group of people who determine how success your business will be. With a good brand name, your franchise business can have a higher recruiting pull and the chances to get a good stuff are higher. On the other hand, franchise business system also included the system on how to manage your stuff, so you really don’t have to worry about the problem of “human”

 

Above are the 5 benefits of buying a franchise business. By paying lump-sum money, you can have a complete, proven and money-making business system. However, there are still some disadvantages of franchise business, and this will be the advantage to start a business from zero.

 

Reasons to start your business from Zero

 

1. More Freedom to run your business

You start your business from zero, so you can build your business system in any form as long as you can make money from it. However, franchisers need you to follow their guideline.

 

2. 100% share on Profit

Well, your business is yours and you can keep all the profits you make. However, franchisors need you to pay royalty payment to them for the support operations and advertising costs. Certain franchisors also need you to share a certain percentage of profit with them.

 

3. Low start-up cost

You can start a business at very low cost in starting. However, buying a branded franchise business is often beyond the financial abilities of many people. Moreover, you are buying the whole business system which is proven to make money. The values are there.

 

4. You are important to your business

You may have false expectations on franchise. Franchise is still a business, and in business, the only person you can count on is you. In some cases, your franchisers may not be able to assist you and you still have to take action like you are starting a business.

 

5. A feel of satisfaction

In certain point of view, you start your own business, manage and run it successfully. You will have the feeling of “successful” in your life. Furthermore, you build a proven business system yourself and make money from it. Don’t you think this is some kind of achievement for your life?

 

 

Conclusion

 

Buying a franchise will be right for you if you :

1. Have the money to purchase the franchise business system
2. Have limited business, sales and marketing background
3. Preferred “invest and forget” investment style for your money since franchise business systems are proven money making.

 

However, if you cannot afford a franchise financially and mentally(you are looking for certain satisfaction), then starting your business from zero and try to learn as a true entrepreneur is the right choice for you.

 

At the end, the choice is yours. Take the time and consider the options and what you really want for your life, and then you will know the answer.

 

Good Luck!

Start Your Own Business, Ways To Make More Money Franchise Business

Personally, I really like to surf around richdad.com’s forum because from there I can read a lot of great information on how to be rich, get motivated and be success.

 

Today, as usual, I found a great article from richdad.com which is about 10 Rules for Success from Sam Walton of Walmart. Let’s see what are the rules:

 

1. Commit to your business
2. Share your profits with all your associate
3. Motivate your partners
4. Communicate everything you possibly can to your partner
5. Appreciate everything your associates do for the business
6. Celebrate your success and find humor in your failures
7. Listen to everyone in your company
8. Exceed your customer’s expectations
9. Control your expenses better than your competition
10. Swim Upstream / Go the other way.

 

Well, as you can see, Sam Walton pays more attention on business partners and associate. I can imagine that manage a big hypermarket like Walmart, partners and associates are really important. Most of the time, Sam Walton have to depend on them to get things done.

 

Personally, I totally agree with rule #8 and #10. I was told by my mentor that Do more than your customer expect and Do what others never do are ways to let your business stand out the crowd.  

 

Source : Richdad.com

Start Your Own Business, Ways To Make More Money

My favorite blogger, Jeremy Schoemaker, is a famous internet entrepreneur who earned millions of dollar from Adsense.

Recently he shared a post over his blog about 5 Ways to Make Passive Income on Your Web Site. Here are the ways:

 

 

1. Affiliate Program
2. Contextual Ads
3. Subscription
4. Direct Ad Sales
5. Donations

Passive income is very important to achieve financial freedom. So now you can start a web site and build your passive income source using the 5 ways above.

Good Luck!

Source : Shoemoney.com

Start An Online Business, Ways To Make More Money

“Feng Shui” is very important in Chinese culture. “Feng shui” is a kind of research on discipline of placement used to enhance the flow of energy in your house and office. If the energy flowing is correct and in harmony, then your luck, wealth and power will be shot up.

 

Today I found a small slideshow over bankrate.com which is showing you the 10 feng shui money tips by Davenport. Here are the 10 feng shui tips:

 

1. Clean your space of predecessor sludge
2. Get in your best direction – based on your date of birth, a direction will work the best with you.
3. Make your desk space conscious
4. Introduce flowing water in your house or working space – Water reflects to cash flow and wood reflects to abundance.
5. Bring in the green(plants) to your house or working space
6. Color Consideration
7. Wooden Bowl – Use this to “hold” your money flows.
8. Light up your vision area – the middle rear of your house or office is your vision area.
9. Nine I Ching Coins – Hang Nine I Ching Coins on a red string in your office or on the back of your office door
10. Wind Chimes attract helpful people

 

I believe if you want to be success, luck is needed and Feng Shui is a way to improve your luck and help you to achieve everything. It also can help you live with harmony. So you might need to understand a little bit of the feng shui theories.

 

Source: Bankrate.com

Start Your Own Business, Ways To Make More Money