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Last weekend, I started to listen to a self-improvement audio course from Dr. Steven Covey, a famous author and speaker on personal effectiveness. The audio course is about the famous audio book: 7 Habits of Highly Effective People.

In fact, I bought this tape for many months ago and last weekend only I can spend time on it. What an “effective” guy I am I know that in order to be success and achieve financial freedom, we must learn how to be effective. All of us only have 24 hours per day and how we can leverage the 24 hours and accomplish what we need to do is the key to be success. This is the main reason why I bought this tape.

The First Lesson

So today, I just want to share the first lesson I learned from the tape – The price that we must pay to learn something.

According to Dr. Steven Covey, the price that we must pay is work diligently and share with others.

I think the meaning of work diligently is we must use what we have learnt frequently until it can be part of our nature. Besides that we must also keep thinking and dig deeply about what we learn in order to understand it better. From my experience, if you dig deeply enough on particular information, you will find out more and learn more eventually. You will feel that you have discovered a lot of new knowledge with the simple information that you learn for the first time.

Another price that we must pay is sharing our knowledge with others. Dr. Steven Covey recommends that we must share and teach what we have learnt with others within 24-48 hours. This will reinforce and reassure what you have learnt while you teaching it to others. I think this is some kind of generosity other than money. Just like the wealth, the more we share our wealth to others by helping them, the more wealth we will gain. Knowledge is our wealth too and so the same theory can be applied over here.

Can you be my listener?

The time I know that I must share what I learn with others within 24-48 hours, the first people I can think about is you. Yes, I think this is another advantage on blogging. I can leverage on my blog to share what I learn with others easily. So I don’t have to walk around to search for my listener who willing to spend time listens to me. So I decided that I’m going to adapt this learning habit and share whatever I learn over here. The only problem is would you mind to be my listener?

PS : This course comes in 2 formats – book and audio tape. I bought audio tape because I can easily listen to it while I’m busy on with my hands such as cleaning and etc. If you want to buy the course, please click here to do so.

Something That I Learn

• Great Article About how to kiss your girl friend
  (tags: Love)
• How to Close More Sales by Leveraging Your Network
  (tags: Sales and Marketing)
• Beijing and Tiananmen Square
  (tags: Beijing, Travel)

Announcement

This is an article that discussed what it takes to start a part time business. If you want to start a part time business to earn extra income monthly, then you must read this article to find out the requirements to start one.

Nowadays, many people has a dream to start a part time business that can earn them some extra income monthly or even cover all their expenses and become their full time income other than a job.

If you think like this, you are not alone. Business is an attractive income source that many people dreams to own. In America, some reports estimated that there are 32 million in this country are in business, either part time or full time. Besides that, study also shows that there will be more housewives start their own part time business.

Actually starting a part time business is quite easy. Maybe you can get started by joining a MLM company or just start web site and make money from the internet business. However, the story will be different if you want to start a success and profitable part time business. It takes more than what you can imagine.

Do you have what it takes to start a part time business? This is what this article is talking about.

What It Really Takes?

Without further ado, let me share with you some of the requirements that I know and found from my experience to start my own part time business:

1. Energy to run the business. You are going to run a business part time. You may have a job or something that you do as your full time income. So you need more energy so that you can run your part time business. Especially in the starting stage, you may have to work extra 5-6 hours per day to stabilize your business. So the first question you should ask is do you have this energy to do it? Anyway from my experience, I found that we can gain more energy by sleeping well, eating properly and exercising. By changing your life style, you can gain more energy to run your own business.

2. The Strong Desire. How strong is your desire to start a business? I think this is the main motivation source that we have especially at early stage where we might not make any money Can you continue and persist with the hard works that may not bring any fast results to you? Can you wait patiently for the results and keep doing and trying? Well, the strong desire I mentioned here is WHYs that I mentioned in my articles. You must have a strong why for motivation and overcome all the obstacles that you may have. I have seen so much of people fail by giving up because they are lack of strong desire.

3. Learn and Take Action. There is another reason why people will fail to start their business – too ego to learn and lazy to take actions. Majority of the people do not have any training and experience in business. So like everything else in our life, you must learn before you can build up a successful business. Taking action is also important. If you keep learning and never take any practical action, then what you have learnt is useless and wasting time only. I have seen a lot of people and even some of my friends are too ego to learn and lazy to take action. So I hope you can remember this and break the block of being success.

4. Self Discipline. You are going to run a business part time, so you properly have a schedule that you must follow to get things done. Please ask yourself this question based on your pass experience: What is the level of your self-discipline? For example, I’m a great procrastinator. I can find any reasons to procrastinate my jobs (I know I must do it though). Therefore I was not going anywhere the time I tried to start my part time online business. Until one day, my mentor reminded me that I was lack of self discipline and I start to understand how importance of self discipline. You are the boss for your part time business. So without strong self discipline, its progress may stop and slow down as everything is depending on you. So if you are like me, then you must learn how to control yourself and increase your self-discipline power. Don’t worry, this can be trained up.

5. Business Plan. There are a lot of ways to start a part time business. However, each of them has a common requirement – business plan. In your business plan, you must understand your market and where are your customers. You may also need to understand your strengths and weaknesses. Generally you business plan should leverage your strengths and cover your weaknesses. Besides that you may also choose the business that fit these 2 factors. Last but not least, you must understand and know the demand of your market and hence provide some kind of unique value to them. This will guaranteed your business success in the shortest time. Well this is not as easy as you think, but you can make it if you know you must.

6. Family Support. We are human and we need supports from our love one to do anything. Their supports can be our biggest motivation to success. If you want to start a part time business, then the first thing you have to do is make your family members, your wife and your family to support it. Try your best to persuade them. I think that this is a must especially if you are married and you have commitment to your spouse, children and family. Just sit down and discuss.

Conclusion

The 6 requirements above are more about the internal factors that is under your control. Of course, there are also external factors such as capital problem, marketing results and other unexpected factors in business. However, I believe if you can manage those internal factors very well, then external factors can be solved easily. So just sit down, spend some time and fulfill all the 6 requirements above before you start your own part time business.  

Are You Ready?

How to Start A Part Time Business Part Time Business

This is an article that discusses the importance of “WHY” in the process of achieving financial freedom. Without a “WHY”, you go nowhere in your journey to financial freedom. Let’s find out more below.

Do you want to achieve financial freedom? If Yes, do you have the concrete reasons on WHY you must achieve it?

I have a few friends who also like me and want to achieve financial freedom in their life. However, they never take any practical actions or have any serious plans to achieve it. All of them know what they want for their life. They want to stop working for money. They want to travel around the world at their young age. Some of them even want to watch their favorite football team practicing every day. So I can say that they know the “WHAT” they want for their life. They want to achieve financial freedom!

However, they never take any practical actions or have any plans to leverage on their job and become financial free. They just keep thinking their dream but never take any serious actions to achieve it.

Do you know why they act like this? This is because they don’t have any strong reasons to support their “WHY” to achieve financial freedom.

The WHYs for Being Financial Free

You want to achieve financial freedom but it only just an end results that you want. In fact, it is nothing and it won’t give any motivation for you. Just like my friends, they want to stop working for money and do something that they want to do. They know the lifestyle (end results) that they want but it only a dream for them if they don’t take any serious actions.

Knowing the “want” is not enough to support you to achieve financial freedom. You must know your WHYs to support your dream and your “WANT”, so that you will take actions.

A “WANT” usually is a pleasure and “WHY” is usually a pain for us. According to the world famous success coach, Anthony Robbins, human always act to avoid pain and gain pleasure and the power to avoid pains is usually greater than the power to gain pleasure.

So from here we know that it is not enough motivation for us if we only know what we want. It only a pleasure for us and pleasure has the least effect over our motivation. So we must build some WHYs around to add more will power on our goals. If you have the enough why to do something, your mind and body will take action automatically!

My Suggestions on the WHYs to Achieve Financial Freedom

If possible, please think some of the most financial pains that you have right now or before as your main reasons.

For example, before this the main reason why I want to achieve financial freedom was I don’t want to work hard like others to make money. However, this why is not strong enough and I never take any serious actions at that time.

Until one day I found my new why that I want to achieve financial freedom because I don’t want to have those financial disasters that my parent had – being in debt and not enough money. My parent has no choice and suffers from not enough money for so many years. From them I know that the pain of not enough money and also lack of choice. Then I set my mind that I build enough wealth to let both my parent and me financial free!

Well, after that I start to take some serious action and I can feel that I’m approaching my goal every day.

Besides that please change and modify your way according to your personal experience. The more actions I take, the more I learn and my experience are kept increasing. So through my new experience, I will modify and add more WHYs to support my goal so that I am motivated and take more action easier.

Last but not least, write your whys down. For me I type it in my planning excel file and save it in my notebook. I will open it every day and read through it. So I can remind that I made a goal to achieve financial freedom with several whys I must do this.

Conclusion

Please remember that reasons or WHYs can be your great motivation power. Besides achieve financial freedom, we also can use this theory and apply it in any goal that we want to achieve. So if you found that you are not motivated enough to take some action towards your goals, then your WHYs are not strong enough. So you just think some concrete and reasonable WHYs for your goal, write it down and read it every day. Then you will be motivated enough to take action.

Achieve Financial Freedom, Achieve Financial Freedom Through A Job Achieve Financial Freedom

This is an article that discusses the reasons why people get into debt. If you want to get out of debt, then knowing the “Why” is the most important step to solve your debts problem. This is a must!

What is debt? Debt is something that a person owes to somebody. Debt can be a good thing and also a bad thing. This has to depend on the reasons why we get into the debt. So if you are in debt and you want to get out of the debt, then you must know and find out the reasons why you can fall into the debt.

The first step in the process of getting out of debt is to figure out how you can create so much of debts. This is a must because without knowing this, your “debt free living” will not last longer. Even you manage to get out of debt in the shortest time, however, you will fall back to the debt if you don’t know the reasons why people and you get into debt.

Generally I can say that there are 2 categories of reasons why we will get into the debt. Let me call it the “Avoidable Debts” and “Unavoidable Debts”. Below have more details on each of them.

Avoidable Debts

Avoidable debts are the debts that we can avoid. However, there are still many people get into the avoidable debts. Below are some of the main reasons why people get into the avoidable debts.

• Compulsive Spending. Compulsive Spending means a person cannot control his/her buying desire and buy something that not necessary. The buying desire is simply more than those financial literacy and knowledge. According to some expert, this is a kind of psychology problem.
• Luxurious Lifestyle. Everyone dreams to have a luxurious lifestyle. However, in fact, this is another financial trap for people. Most high income and middle class people will fall into “luxurious lifestyle” financial trap. They will go out to buy their big house or vacation house by carrying new mortgage loans. They will also buy new boats or sport cars to show off their financial abilities. They still go for it and ruin all their personal finance even though they can’t really afford them.
• Bad Addiction. Some of the bad addiction such as gambling will also make people get into a big debt. By the way, many addictions in the world will ruin our life.

In conclusion, avoidable debts are more related to our self-control, characters, buying habits and money management. This is more about our internal factors. To solve this problem, we must learn the skills to overcome our habits and mindset. Self-improvement education material is important for people to get out of avoidable debt.

Unavoidable Debt

Unavoidable debts are the debts that we cannot avoid. In most cases, unavoidable debts are related to those disasters and unpredictable incidents that happen in our life or we can call it unexpected expenses. Some of the reasons why people fall into debt are:

• Losing Their Job. Many people are living paycheck to paycheck. So job is very important to most people as this is the only income source that they have. I already saw many examples how people fall into debt because they lost their job. They have no choice but have to call out some loans to cover their living expenses and etc.
• Experiencing medical issue. I think this is the cruelest thing that we might experience in our life. Nowadays, medical costs are getting expensive. Many people fall into the big debts due to the expensive medical expenses which in most cases we really don’t have much more choices available!

Unavoidable debts are more about external factors and beyond our control. However the good news is it is easier to be avoided compare to avoidable debts. A good financial planning such as money saving and starting an emergency fund will prevent us from most of the disasters in our life.

Conclusion

Generally, there are 4 lessons that we must learn to get out of debt or prevent us from being in debt:

• Self-Control. Control and behave ourselves to spend money wisely. Delay gratification is another keyword for this.
• Financial Planning. We must start to gain control over our finances and plan for our future. Please always remember that planning for the future is the best solution for the unpredictable incidents in our life.
• Money Management. Control and manage our expenses and save up some money for emergency fund.

Am I missing something? Please feel free to add it up below(comments).

Steps to Get Out of Debt Get Out Of Debt