What's Up, Young Boss! Being a first-generation entrepreneur is hard. Your family either thinks that you should have a lot of money already OR that you actually don't work and don't have a legitimate business, especially if it's an online business or a multi-level marketing business. You will probably get scammed like the rest of us and have rough days mentally and financially. As a first-generation entrepreneur, the following are the most painful lessons to learn and will determine whether you are fit to be an entrepreneur. Your family does not understand why you can't just get a job and be happy When you are the first to start a business in your family, there will be plenty of days that you feel lost and unsupported. To most people, starting a business is a scary idea
What's Up, Young Boss! Being clear about what you want from your business is going to be vital to your success as an entrepreneur. We all have something that we are passionate about but will our passion business generate the type of revenue that we want and need to pay for bills, debt and desired lifestyle. Maybe you want to pay down student loans or maybe you want to save up for a family trip to Disney Land. No matter what your financial goals are, you need to be clear about what it is that you want to accomplish because if it's not going to make you the money that you need, you should try doing something else. Is My Business Real or Is it just a Hobby? A passion that does not make you any money is a hobby. The first year, or two, for most businesses are challenging.
How often do you think about money? Do you think about it ALL ThE TIME? I think it is my God-given right to live well and free. You may call it rich because of the money I call it rich from the potential of being my own person, with my own income. With My Own Income. If you really want to change the world, change your relationship to it. If you continue to stay where you're at, what change can be expected?
What's Up, Young Boss! Let's be real for a moment! Starting a business is hard and staying in business is even harder. There are days when you will feel like your business is failing and will never hit the goals that you set in your business plan (I am assuming that you have a business plan). We are all entitled to have our bad days. This is the nature of being human. What I want to focus on are ways that we can overcome these temporary moments to prevent us from having unproductive days and fall into entrepreneur depression. Being a business owner requires you to be persistent and flexible because nothing ever turns out the way that you see it in your mind. Because I too have days when it's difficult to jump out of bed and get started, I wanted to share with you a few way
What's Up, Young Boss! This week we highlight Tony Berry of Berry HVAC & Maintenance Inc. in Columbus Ohio. Heating and Air Conditioner Maintenance and Repair for 23 years 23 years ago, Tony Berry was a fast food worker at a Wendy's restaurant in Columbus Ohio. During the Clinton administration, federal and state funding made it possible for Tony to return to school and improve his life trajectory. He decided to learn how to repair Heating and Air Conditioning units (HVAC) because it provided the best opportunity for him to make good money and have a steady supply of work. Challenges for a New Business Owner Upon completing the program, Tony was eager to find work but experienced challenges in securing contracts due to his skin color. On one occasion, Tony was tricked into r
What's Up, Young Boss! Having a business account is a great way to keep your personal money and business money separate, even if you are running a sole proprietorship. A business account is absolutely necessary when your business has partners and staff. At this point, the business is its own entity and the account does not belong to one person, but to the stakeholders of the business. Below are 5 things that you will need to set up your small business account: 2 forms of ID: Driver's License, Passport, Bank Card, etc. A Tax ID (EIN): Go to IRS.gov site and apply for an Employer Identification Number (EIN). It takes 5 minutes to apply for an EIN and receive your number. Registration Documents from your State: When you register your business, (sole proprietor, partnership or c
What's Up, Young Boss! As a first-generation entrepreneur, having a business mentor is vital to your longevity. We need business advisors that will give us honest information that is helpful to our business and personal journey. A business mentor is any person that owns a business, that you would like to learn from, who is also willing to help you achieve your business goals. Having a mentor will help you avoid common pitfalls that many entrepreneurs experience. A mentor will teach you practical information that will allow you to skip steps on your success path and help you get to your destination quicker. How to find a Mentor Here are 3 quick ways to find a business mentor: People that you already know. Maybe you know a successful entrepreneur who you would like to be your m
YoungBossEconomicClub.com is the #1 site for first-generation entrepreneurs looking for real opportunities to earn an income online. Here we focus on the exploding world of Affiliate Marketing and practical ways to build a website that will generate positive cash flow. Baby Boomers are more likely to be first-generation entrepreneurs than millennials. Those who are retired or soon to be retired are looking for ways to stay active, have fun, do something they are passionate about, learn a few new skills, and make some money. Affiliate Marketing is an improved way to advertise products and services by building a website instead of making phone calls or passing out flyers. Automate your Affiliate Marketing Business to Work Without You Affiliate marketing is the process of advertising p
Step 5 Generate Traffic Now that you have an attractive website with original content, it is time to share your website with the world. Facebook, LinkedIn, Instagram, Twitter, Pinterest, and Google Plus are all great places to share your content. Join groups that are related to your niche. Add your content to those groups and start a discussion. It is very important that you engage with people on your social media sites so they will read it, like it, and share it to their networks. If you do not see a group that is best for your niche, create one and then invite people to join. Build a relationship with your audience that is authentic. If you sincerely are trying to help people, your site will ultimately blossom. It is okay to share other websites and tips that you did not create. It...
Step 4: Create Content Now that you have your niche, affiliate programs, website, and domain name, it is now time for you to beginning creating content for your website. Content is the reason why your audience comes to visit your website. Also, the quality of the content determines how long they will stay on your site. Our goal is to create helpful honest and well-written content or articles that provide solutions for our audience. Within the content, you will include low-competitive keywords to help your site get ranked on the first page of Google Search. To find non-competitive keyword go to Jaxxy.com. Try the Alphabet Trick If you are having a hard time coming up with topics to write about, try my alphabet trick. Head back to Google Search and type in your Niche "a", "b", "c" an...