My First New Venture

Now that I have grasped the basics of HTML coding and how to copy & paste a banner advert, a widget or an Amazon Carousel into a webpage or Blog, I’m ready to move on to Affiliate Schemes and Residual Income Opportunities.

I would recommend to anybody who is serious about a career online to learn all they can about building websites and keep up to date with all the new media trends in technology. Despite realising that you can of course out source all of the required elements, I think it it wise to invest some time and education in yourself first. It can be frustrating in the beginning and as with all technology it can change very quickly, but I think it very important to have an understanding of how things work to be able to spot a new opportunity more easily.

I will start testing and measuring with a brand new find, an MLM Company, apart from the residual income opportunity, it also provides a large range of retail products, ranging from weight loss and well being to organic cleaning products.

Remembering from the Kim Kiyosaki book, Rich Woman, her definition of wealth is the number of days you can survive without working for money, while still maintaining your same standard of living, I haven’t got a moment to lose – I’m starting within the next few minutes to build on my existing residual income with a brand new program. ( I will keep you posted of the progress.)

The Passive Income March Begins

Several years ago I decided that our traditional bricks and mortar, family run business was never going to fulfil my goals on it’s own. I played my part within the business, carrying out all the administration, VAT, PAYE, marketing, advertising, customer service, staff liaison and more, answering the phone with a sunny “Good Morning” or “Good Afternoon” and in general giving it my all every day.

It made us a great living ( at times ), nice cars, lovely home, a holiday or two and in general life was good. Late In 1999 I was recommended a book by a cousin in Canada who had just been to a seminar, that book? Rich Dad, Poor Dad by Robert T Kiyosaki. I uncovered how bad my financial IQ was by reading that book and after demolishing his second book, Cashflow Quadrant I found I was indeed at money management level one. I knew I could not build true wealth from that position.

By 2004, I had turned my finances round, which is documented in Control Freak a Recipe for Debt Freedom and is currently being revisited live in the Pay Off Your Mortgage Challenge.

In 2004 I began the search for passive income and my very first encounter came my way with The Utility Warehouse, money saving, one monthly bill and a slice of residual income every time someone used the phone, switch on a light or used the internet. ( I have added the details to the Passive Income section of the Blog )

In 2006 my Ebook; Control Freak a Recipe for Debt Freedom received national press attention and I started to see the potential for passive income from the Internet. Several products and websites later and my learning curve of Internet Marketing becomes more of a gentle climb than the mountain I started with and I’m actively seeking Residual Opportunities via the Internet.

I will add my findings both here and on the Women Invest Too website, which will be completed over the next few weeks.

Who Are You To Comment?

Kim Kiyosaki has suggested Women setting up investing clubs for SERIOUS ladies who would like to learn more about investing for their own financial independence. If you check out the Blog at the Rich Woman site you will notice vibrant activity of groups being set up just as suggested, this I applaud.

However one self declared “serious” journalist wrote an article penned by her good self recently that this sort of activity was “showing up investing “ignorance”. Admittedly the headline “I’m investing come & join me” is not a classically inviting title, but at least the lady in question was taking an active role in investing ( which I very much doubt the journalist was.)

However the moral of the story is START to learn about investing, MAKE your first investing decision based on the facts around you and feel PROUD that you are doing something today for your future that 99% of the population will simply never get round to doing.

90% of Success is Showing Up!

I have completed reading Rich Woman by Kim Kiyosaki for the first time. I will be reading it again shortly as I embark on my renewed search for passive income. I have found the book inspiring, thought provoking and a kick up the rear end, despite all that is going on around me, with the Pay Off Your Mortgage Challenge, the new I Believe site & Blog and the addition of Facebook into my working day.

Kim Kiyosaki describes how to estimate your wealth factor and re-evaluates the value on what is conceived to be declared as financial freedom. Financial freedom is actually achieved through passive income either matching or exceeding your average outgoings on a monthly basis. Yes that really is the sum total of financial freedom.

Not only does this bring most people’s financial freedom amount into perspective, which in my eyes is completely achievable for anybody wishing to seek their own security in life, but positively makes you want to pursue avenues of passive income, no matter how small at first in search of the seemingly elusive, yet desirable and attainable financial freedom.

I will add some sources of residual and passive income to this site over the coming weeks and months to inspire people, especially women that this is achievable right now.

Why Wait for a Crisis to Happen When Prevention is Better Than a Cure?

I have almost finished reading Kim Kiyosaki’s Rich Woman book and am fascinated by some of her thought provoking words of wisdom. As Gemma has said in her earlier post, the book reveals moments that could be a group of women from anywhere at anytime in the world who are meeting up again after 20 years and swapping “potted life stories” over lunch.

I wonder how anyone of us would compare to one of our old classroom buddies who had over the years blossomed into one of the most successful women in the personal finance world. This exact scenario is the focal point of the story throughout the book and the dawning of reality that starts to hit home with each of Kim’s friends is nothing other than something every single one of us should do, male or female, young or old.

Why do we always wait for a crisis to happen before we start to take living life to the full seriously?Do we really have to suffer an illness before we focus on healthy living? Do we really want to experience the pain of debt before we start to live within our means?

This book is a story about an ordinary woman who decided to become financially independent and in control of her own life. Is there anything more alluring, powerful and delightfully feminine than that?

Don’t listen to that little red devil sitting on your shoulder whispering, she can but I can’t, it’s all about learning and doing, nothing more, nothing less.

Investing With a Touch of Common Sense

I am well over half way through reading Rich Woman by Kim Kiyosaki and I am still very impressed. I have read in the last year Taming the Lion by Richard Farleigh, and as an entrepreneur I have had to come to terms with handling what I believe to be calculated risks on a daily basis. I can also appreciate the phrase “Win Some, Lose Some”.

I recall a brilliant assessment by Richard Farleigh on managing and embracing risk. Having read Kim Kiyosaki’s “blueprint” of women being “better equipped” than men in general for investing these two criss cross all over each other beautifully.

Richard Farleigh spoke of learning from three of his basic mistakes :-

1. Letting losing positions drag on for longer than he should.

2. Being too harsh on himself, assuming making a loss made him a lousy investor.

3. Let it depress him that so many hours of research and hard work could result in losses.

Bearing in mind how successful Richard Farleigh became through investing, I found this most inspiring.

Kim Kiyosaki points out the natural abilities of women lend themselves well to investing, including :

1. We are more willing to ask for help ( all I will say is the word directions and you will nod knowingly!)

2. Women Do Their Homework, we tend to buy a common sense purchase.

3. Women are great shoppers, we tend to look for something that is priced below it’s actual value and buy it.

Therefore my small deal this week was to buy something that I consider to be currently undervalued and that as the economy slumps further will rise in value. My investment is based on the lowering value of currency and therefore an increase in value of my investment. As in the title of this post, investing with a touch of common sense.

Financial Freedom is Achieved Through Passive Income

I am still reading Kim Kiyosaki’s Rich Woman and in the true Kiyosaki style she offers some incredible common sense “objection handling” to the common issues thrown up when it comes to why so few women have succeeded in obtaining financial independence either within a relationship or on their own.

1. I don’t have the time.

2. I am not smart enough.

3. I haven’t got the money.

Now as a mother myself, I can fully relate to the time factor involved with bringing up children, however I take on board Kim Kiyosaki’s viewpoint that if my life depended upon finding the time, I’d have found it somehow.

I concur with the viewpoint that men are not born smarter than women when it comes to finances, in fact biologically women are better equipped for investing than men. ( Kim goes on to show this .) I began studying investing over 12 years ago, when on regular trips to the USA & Canada I was amazed at the extent of personal finance books, business and self help books available everywhere compared to the extremely limited selection in the UK. ( So I bought several on every trip & changed my course.)

I have been guilty of waiting to hit the big deal, then start investing, and with money to invest too much too soon without first practising, I have set myself a small challenge this week of finding an asset ( something that pays me a positive cashflow ) this week for around £100. I am a massive believer in learn by doing, I have come through all the money management levels required in order to be free to invest in passive income so I will research what is available and do my due diligence.

If you ever come across the chance to play the Cashflow 101 game by Robert Kiyosaki then jump at the chance, you play the part of a Rat, trying to get out of the Rat Race. You collect your “Monthly Cashflow” payment and decide which small deals provide you with a positive Cashflow, when to convert those samll deals to capital gains to clear liabilities and when to purchase a big deal. The object of the game ( and is hilighted throughout Kim Kiyosaki’s book ) is Financial Freedom is achieved when your Passive Income pays for your Total Expenses.

Eyes & Ears Wide Open

I am still reading Rich Woman by Kim Kiyosaki and I have to say she hits nerves with a subtle sledge hammer.

Questions we should ask ourselves include, what plan have you got if you suddenly became ill and your income stopped coming in after 2 or 3 months?

What plan have you got if you get to retirement age and there are no pensions to draw from?

What plan have you got to be financially free enough to do whatever you want with your time because you have enough positive cashflow from your investments coming into your bank account without you having to do the work yourself?

I am currently investing my time, in my opinion wisely in learning about investing and I know that my spare time is being spent creating assets that will generate positive cashflow for me, what about anyone else?