Five Money Tips To Start Your Side Hustle

In almost every meeting I have today, clients often ask for me for ideas about stopping the job they hate (even though it is paying them) and trying to figure out how to start that side business or hustle that fires them up to get out of bed every day.  When reality sets in, most people realize they can’t quit the job they have today.  However, getting multiple streams of revenue are one of the keys to increasing your chances for massive financial success whether that is rental real estate, passive investments, a business, or even your own little side hustle.  So, here are five money tips for when you decide to turn that extra burst of energy into a money-making venture. Make Sure You Have A One Page Business Plan How much do you need to start the business? How will it make money? Remember, when you start this side hustle you don’t some 27-page business plan that you ...

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5 Smart Financial Moves To Start The New Year Off With A Bang

The holiday season brought snow on Christmas Day to the state of Georgia along with some relief around tax breaks that helped both the wealthy and the unemployed. It seemed like everyone’s stocking got a gift or two, but the reality of all these tax breaks will sneak up on us a few years from now. As the New Year gets kicked off, there are some key things you want to be taking action on in respect to your overall financial plan. Rates will not stay low forever – If you have the situation where you can afford to buy a piece of real estate or potentially refinance your home, this would be the time to take advantage of doing that if you haven’t jumped on the wagon already. If you have an adjustable rate mortgage, you should consider getting that locked into some type of fixed rate program. If you cannot refinance and are stuck with a higher interest ...

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Spirit Recession Busters

For the duration of my career in the beverage alcohol industry I have been bombarded with statements about the recession proof nature of this business. Quoting friends and acquaintances,”When times are hard people are still going to drink, sometimes even more.” I must say that I have found over the years that this has proven to be true some of the time and more often than not most of the time. However, I can also say that in the last thirty plus years that I have never experienced anything quite like what we are seeing now. Now if you are addicted to the news like most concerned, well informed Georgians are then you have probably read or heard that one of the few tax bases in the state that is up is the revenue from alcohol taxes which we wholesalers are responsible for collecting. We like to affectionately refer to this as one of the sin taxes. Let me put ...

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Multiple Streams Of Income

People who own a business often understand the powerful concept of multiple streams of income. Given that any business can have economic, regulatory, or industry changes that can hurt the income stream of a business, most business owners develop multiple income sources within their business to protect the cash flows of the company. Sometimes these changes are in different lines of business, types of products, or services that complement each other. I think over the next decade, each household in America will need to consider having multiple streams of income with job and market uncertainty we will face in the years ahead of us. So, how can you create multiple streams of income? 1. Both partners in a household have a stream of income – In my opinion, letting your household rely on just one breadwinner that has a job as an employee with a company is an incredibly dangerous strategy. As large companies feel pressure to meet Wall Street ...

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What Is Your Internet Influence?

Do you have Klout? Yes, I spelled it correctly. There is a new website for all of you who use social media to grow your personal or business results. Klout has developed a methodology using over 35 variables of Facebook and Twitter to measure things such as true reach, amplification probability, and network score. True Reach is the size of your engaged audience and is based on those of your followers and friends who actively listen and react to your messages.  Amplification Score is the likelihood that your messages will generate actions (retweets, @messages, likes and comments) and is on a scale from 1 to 100.  Network score indicates how influential your engaged audience is and is also on a scale from 1 to 100.  The Klout score is highly correlated to clicks, comments, and retweets. (source: Klout) As social media expands as a mechanism for growing new customers, business owners out there need to pay attention to websites like Klout.  Shouldn’t your ...

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