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| Debt Disaster Relief E-Book |
| Run your life like a banker. |
| The focus of a banker is to use money to make more money. You can apply this same principle to your own life. Once you are out of debt, find ways to invest your money so it makes you more money. There are many different ways you can invest your money each with varying degrees of risk. The next section, How to make your money work for you, goes over some of these options.
Bankers are also always thinking of new ways they can make money. This is another principle you can use as well. If you have your own business, would customers be willing to pay for an additional service? An additional item, maybe a by-product of something that you already make? Bankers see value in everything. They take something with value and use it in other ways to generate more money. For instance, if you have a boat and you enjoy fishing you certainly get the value out of your boat. But is your boat making you any money? What if you took small groups of people out for fishing tours? You could generate more money by using your own knowledge of the good fishing holes. If something doesn�t make money, bankers will liquidate it, then reinvest the money elsewhere. Bankers also see value in things that other people do not. Keep your eyes open and you can spot opportunities. I remember I once set out an expensive floor lamp out by the trash because it wasn�t working right. Shortly after putting it out by the street I had a knock on the door. A man asked if it was okay if he took it. I told him, sure, and indicated it had a short in it. He said he could easily fix it. Remembering this, I was spring cleaning and decided to sell some stuff on E-Bay. On a whim I posted a whole bunch of things that I considered borderline dumpster items and was surprised that every single item sold. You can read about it in the free article, How I made $1000 on E-Bay. Know your special qualities and what you are really good at and enjoy. Often times people become very successful when they dabble in a hobby that becomes a passion and ultimately leads to a successful business. Something that may come easy for you may be difficult for someone else. |