You Never Too Old to Start To Make Money from Internet
Do you ever complain that you are too old and cannot make money from Internet?
Do you think that Internet Business is only for those who is young?
Do you believe that it is hard for a senior to make a high income after retiring?
Today, I just came across an inspired article from USAToday.com about how retired people and seniors make a good living from Internet through Google Adsense.
In this article, USAToday introduces several “Gray Googlers” and each of them make more than $10,000 of annual income from their sites or blogs through Adsense. I can tell you that their income is above average!
After reading the story, I feel that Internet Business is a good way for retiree to start as their part time business and make side income. Besides that Internet business also gives a hope to retiree.
If you think that you are too old to start or everything is just hard for a senior to accomplish, then you must read this article and break this believe.
It never too late to success!
Your Relationship with Money
This is an article that talks about why some people can be rich and make money easily while other just struggle from paycheck to paycheck. You have to find the key, the true key to open the box of wealthy and open bright future for yourself.
Do you ever suspect or think about why one person can make so much of money while another just barely cover basic expenses?
Lately, I was searching for a new house for my family. I went to several housing area and I found that different housing area has different kind of house prices. Yes, I understand that there are many factors that will make one area more expensive than others. Let’s not discuss this topic and change our focus on the owners.
I found that some people are so rich that they can afford properties that worth millions of dollar. Some of them even located at a good location and as you and I can imagine, the price is sky rocket. However, on the other side, there are people that still struggle and hardly buy a small tiny house. This makes me curious the true reason why the gap is so big between them.
What make others Wealthier?
I keep thinking the question and I know I must find the key. All of us are human with the same talent given by God. Then why someone is making more money than us? We must find out the true reason because this is the key for us to be rich and wealthy.
After doing some researches and observations on the rich people around me (both my mentor and my customers), I began to formulate the answer. I found that a person’s financial condition is not only depending on the external factors such as how much money they make and invest, but also on their internal environment which about the relationship between them and their money. This is the most important factor that determines the wealth of someone because this is the foundation of how people will handle their money.
Your Relationship with Money
I can see that our relationship with money is the foundation for our wealth. As my mentor always says “You must love the money to make the money love you”. Before this I was quite confuse with what he had said. But today, I can understand this.
Our relationship of money will reflect our thoughts, beliefs and feeling on the subject of money. For example, if you love money, you will try all your best to make money and the most important thing is you enjoy the process. Don’t you agree that if you enjoy doing something, usually it will be your hobby and you can do it every well? You will spend most of your time on it and make it the best! This is why almost all the rich people enjoy making money, talking about money and eventually make the money loves them and follows them.
I can observe this from one of my customers who can make a lot of money easily from stock market easily while others complain it is risky. Others are complaining risky but for him, it is easy and enjoyable to make money from stock market.
How to Make Friend with Money
Now you know how important it is to make friend with your money. If you want to be rich, financial free or simply own the wealth that people around you admire at, then you must learn how to deal with your money. Below are some of the tips that I can give you which I learned from my observation over the rich people around me:
- Change your mind – Change your mind that “Money is not Evil” and start loving it.
- Understand your inner phobia on money. If you have some bad experience on money, don’t hesitate to find someone and discuss it. This will help you face your problem properly. You can contact me and discuss with me if you want
- Talk more about money. People will discuss their favorites with others, so start talking about money today!
- Spend over Earn Ratio. Please make sure you always spend less than you earn. This will make money feel that you love them and follow you. This is what my mentor told me.
- Appreciate your money. We appreciate our money because it can help us to buy something that we need and love. It is a friend that help us to buy what we love.
Conclusion
Your relationship with money is very important. I believe this is the most basic foundation for our personal finance. We must learn how to make a good relationship with money before talking about how to manage them. I believe if you have a great relationship with money and you love them, then you will know how to manage them very well. This same theory also applies on car where a person who loves car will take a good care on the car.
Love Your Money and It will Love You Too!
Business Decision: Sell Low or Sell High?
This is an article that talks about my personal business experience on pricing strategy for business. I will discuss the reasons why and how you should sell high in your business instead of sell low to win the price war.
In business, there are a lot of decisions that we have to make. Each decision will affect your business directly. So we must learn how to make a good decision so our business can grow faster and bigger. Besides that you also must learn how to overcome your wrong decision without letting it destroys your business. Well, we only human and we will make mistakes in anything. So we have no choice but learn how to overcome our mistakes.
Today I want to discuss one of the big decisions that you must make in business – Selling High or Selling low in your business. In other words, you must decide your pricing strategy. This is a very important decision because it will affect your business profit, marketing strategy and business model. In a nutshell, it will affect your business!
The Pros and Cons of Selling Low
Selling low means you sell your products or services at a low price. You will sell as low as possible to attract or maintain your sales volume. Well, since you are selling low, your profit margin is low and you have to maintain your sales volume in order to survive. In business, especially businesses that involve products, price war may happen. So if your business involves in this price war, you have to keep the price as low as possible to win it. Customers usually compare your products with other competitors and make their buying decision. Since price has some influences on people’s buying decision, so if you sell low, you may boost your sales volume immediately.
The Advantages of Selling Low for your business:
- Because you sell low, your sales volume are usually higher compare to those sell higher than you
- Since your sales volume is high, it is easy for you to collect a big list of customer databases.
- Sometime, it is easy to sell low compare to sell high where your customer will only care about the price instead of other requirement.
The Disadvantages of Selling Low for your business:
- Like what I said, your margin is low. So in order to survive or cover your business expenses, you must maintain your sales volume.
- In order to sell at the lowest price, you may have to purchase your inventory in volume to get a better price. So you can drop down your cost and sell lower.
- Since you are selling low, sometime it is hard for you to provide extra service to your customers as your margin is low.
The Pros and Cons of Selling High
Selling high, on the other hands, means you sell your products or services at a price that is high to your customers. The biggest advantage you do so is you will get a high profit from what you are selling. This will be a great cash flow for your business. The disadvantage is some customers may complain “expensive” in front of you and eventually you will lose your customers. Besides that, you will also lose in the price war.
The Advantages of Selling High for your business:
- Since you are selling high and this will help you to have a high profit margin for your business
- You will collect and filter up a group of customers that are willing to pay more for your services or products.
- You will stand out of the price war.
The Disadvantages of Selling Low for your business:
- If you are selling high, your sales volume will be low.
- In order to sell high, you must learn how to provide values to your customers and make them willing to pay more. This is one of the challenges of business.
The reasons why I choose to sell high
For your information, I’m running a computer products sales and service business in day time. This is my offline business and also the only business that my mentor left for me. For your information, in my country, computer related business is a very competitive business. Because of the competition, most of my competitors will choose to sell low for their business. They sell the computer gadgets and charge their service at a very low price so that they can win in the competition.
However, I think differently and choose the different path to sell high. Maybe I was influenced by my mentor that selling high is the way to run a business. However there are some certain points that I agree and below are some of the reasons why I do that:
- Who can last longer? From what I saw, those who sell low cannot last very long in their business. Most of them will have to close down due to the low margin to afford the business. However, on the other hand, company like mine who sell high can last longer.
- Profit Margin. Selling high means I have a higher margin profit. So through this margin profit I can give a better service and quality to my customers. So I can provide more values to my customers and they are happy with my service.
- Which one can make 1 million faster? Well I think you know the answer for this question.
- My targeted customers. I’m actually targeting at a totally different market for my business. The market that I target is customers that are willing to spend money to get special service, save their time and help them to solve problems. I understand that computer is important in our life. So I will provide the best and the fastest service to them to save their time and reduce the down time of their computers. I know there are some customers who are willing to pay more to save their time as their time is valuable.
However, in order to sell high, I have to do extra works. First I must provide good service. Second, I must learn how to provide more and more value to my customers so that they can pay the money happily. This is one of the challenges that I’m having now – building value for customers.
Which one to choose?
Above are just some of my opinions and ideas on making the decision to sell high or sell low. I believe selling high is good for my business so I choose to do that. Basically there are no right or wrong in this decision. If you want to sell low, then you must change your business strategy to sell low. For example, you must learn how to increase and maintain your sales volume. Then only you can make the profits. There are a few competitors I saw in my area are doing quite well with selling low. So the most important things are your business mission, strategy and market you are targeting at.
