Tag: Money

How To Turn A Passion Into A Passive Paycheck, According Ryan Scribner

by Bright Osadiaye, posted in BriSights, Health & Well-Being, Leadership, Management, Personal Development, Workplace Learning
Photo by Monstera Production on Pexels.com

‘Start your side hustle with the intention of being the very best at whatever you do. Why aim for mediocrity?‘

‘Take time to figure out your ‘why’ behing starting your side hustle. This will be your long-term source of motivation.’

‘Represent yourself and your business as professionally as possible. This, in turn, has an impact on how others perceive you and your business.’

‘Sharing your story with your audience is a great way to build an emotional connection.’

‘Recognize that building a successful side hustle involves turning down other short-term moneymaking opportunities.’

‘The right relationships can help you pursue your dreams and build your business. Focus on the relationships that lift you up, not the ones that bring you down.’

‘Instead of simply offering information about a product or service, teach your customer how to use it. In return, you are likely to be rewarded with referrals and repeat business.’

‘Diversification is the strategy of spreading your eggs across multiple baskets instead of putting all your eggs in one.’

‘Reduce high-cost spending categories such as your transportation and housing by driving a reliable older vehicle and living with family, if possible.’

‘Create a written plan to follow. This doesn’t have to be formal business plan, but it doesn’t have to be in writing, not just in your head.’

‘Short-term intensity is not the goal. Instead, ask yourself what you could realistically see yourself doing every week for the next decade of your life.’

‘In order to have success in the long run, you need to be both people-rich and money-rich.’

Source

Ryan Scribner (2022). From Side Hustle to Main Hustle to Millionaire: 13 Lessons to Turn a Passion Into a Passive Paycheck

‘No-Nonsense Lessons On What It Takes To Build A Successful Business’

by Bright Osadiaye, posted in Health & Well-Being, Improve Academy, Leadership, Management, Personal Development, Workplace Learning
Photo by Anna Tarazevich on Pexels.com

‘What makes a good entrepreneur? Are they born or made?’

‘Entrepreneurs constantly question and challenge business scenarios and always look for a way to make things work better or introduce a new product or service.’

‘Not all entrepreneurs run their own businesses. Are you, or could you be, an entrepreneurial employee?’

‘The most important thing when planning your business should be the accuracy of your facts and statistics. Don’t let passion cloud your judgment.’

‘Understanding every aspect of your business is of paramount importance when talking to lenders and investors.’

‘Choosing the correct business structure from the outset will save you money and taxes and may protect you from legal issues down the road.’

‘If you don’t have enough seed money to begin the process of starting your own company, find a creative way to raise it.’

‘Be willing to invest your own money and assets in your business before asking lenders and investors to risk their money.’

‘Prepare a professional presentation when approaching potential investors.’

‘Never take for granted that your financial statements are correct. People make mistakes, so they can be wrong. Have someone you trust, a good financial person, look after your financials.’

‘Overconfidence in your product or service can be dangerous.’

Source

Tom Golisano (2020). Built, Not Born: A Self-Made Billionaire’s No-Nonsense Guide for Entrepreneurs