Step One:

To begin, take a piece of paper, a pen or pencil, or open a word processing document and start listing all or your skills and talents. What are you good at? What do you enjoy doing? What skills have you learned throughout your life? And most importantly, what are your passions?

It is important to be objective because often we don’t give ourselves credit for the skills and talents we have. We just assume that if we can do it everyone can. That is definitely not the case. If you are having problems doing this ask family members, coworkers or friends to tell you what your skills and talents are. We are seen much differently by others than we see ourselves.

Once you have determined what your strengths are, it is important to truthfully identify your weaknesses. We all hate to admit we are not good at something, but when it comes to running a business, it is critical for everyone to know what they are good at and where they need some help. No one can be good at everything, so admitting a weakness has no relevance to whether you will be successful or not. In fact, by admitting and accepting your weaknesses you can proactively find alternative solutions so you can focus on your strengths.

Step Two:

How much time will you have to devote to your new business? This is where many people make mistakes. They are overly optimistic about how much free time they have to devote to the business. Unfortunately, life often gets in the way eating away valuable time. The amount of time you will have available will impact the type of business you choose.

A very good method to accurately determine how much time you will have available is to track how you spend your time. Choose days that are representative of your life, not days that are unusual. You will want to do this for at least a week so that you can document but weekdays and weekends. You may also want to track your time during different seasons. For example, in the fall your kids may be in school activities that require you to drive them around, but in the spring they have no activities or fewer activities leaving you more free time.

The time spent watching television is one area where people find large chunks of time to build their business. I know most people enjoy watching television, but there is no true benefit received, besides some relaxation. Think of how much you could accomplish towards building your business instead of watching TV.

As you are planning out your work schedule it is important to remember time with friends and family. One of the primary reasons people start a business is to have a better life, not to be a slave to the business. Granted, you need to diligently work at your business, but don’t forget to enjoy life along the way.

Step Three:

Now it is time to decide how you are going to finance your business. The best way to determine how much money you will need to start your business is to create a business plan and cash flow summary. Be realistic, typically businesses exceed their projected start up costs by at least 25% or more. It’s better to be cautious early on then to have the stress of running out of money later.

Something else to consider is your risk tolerance? Are you pretty cautious with your money and are looking for a lower rate of return for your business but a higher chance of success? Or, are you ready to take more risk for a higher rate of return? That is a personal decision and neither is right or wrong, it just depends on you.

Where are you going to get your start-up money? Are you going to finance your business from savings or from your current job, or do you plan on borrowing money from a bank, friends or family members? Or maybe you are taking on a partner and giving them a percentage of the company in exchange for start-up capital. If you are borrowing money from friends or family it is a good idea to have the agreement in writing in case there are any discrepancies in the future. It is much better to lay out the agreement in the beginning then to try to piece it together after there has been a misunderstanding and feelings are hurt.

Step Four:

The next step is to do some research. Take a look at the types of businesses that match your skills or talents. Take some time to research the market for these products or services. Is the market young or mature? Is it under or over developed? Are there changes that can be made to existing businesses to improve the market or service? Don’t be afraid to be creative, but do market tests before committing to something entirely new.

This is also the time for your due diligence. If you are looking at getting into an existing business it is critical to your success that you dig into the business opportunities to determine whether they are legal, the businesses are strong, the products are high quality, and there is plenty of support and training. Before making any final decisions it is always a good idea to meet with your accountant and/or attorney to see if they see any red flags.

Step Five:

Now that you have made your decision it is time to get busy. This time is both exciting and overwhelming. If you have never owned your own business it is a good idea to search out some good books on starting businesses. Many times you can find books written specifically for your industry.

Additionally, many cities have a program called SCORE (www.score.org) which provides free and confidential business advising. Another place to find good information to help your business succeed is your local Chamber of Commerce. Joining the Chamber may or may not be a good choice for your business, but typically Chamber’s of Commerce have many resources available to members and non-members.

Step Six:

Enjoy!

Being unemployed is one of the worst dilemmas a person can face – it brings up the most damaging emotions we have . . . fear, loss, hate, dread, panic, diminished self respect, and we could go on and on. In addition to losing their job, many are on the verge of losing their biggest investment – their home. 

The unemployed need some kind of hope to bring them through this period of their lives. Right now, as we look at the state of our economy, it’s not very encouraging, and it could be several years before we have a healthy and robust economy again. They need to find something that can quickly bring money into their lives. 

What if there was some way these people could, for a very small initial investment, replace their employment income? There is a way, and it’s called gifting or peer-to-peer wealth building.

First let me tell you some of the reasons why gifting is such a great activity for anyone who is unemployed.

1. People need money NOW. They don’t have time to build a huge downline (network marketing) before a reasonable amount of money can be received.
2. You can start receiving money almost immediately in a well functioning gifting program.
3. There is a small one-time investment required to get into a good program, and it is flexible. No monthly subscription fees, no need to dip into one’s savings.
4. The unemployed have eight free hours a day, or the equivalent of the time their previous job required (plus the time spent commuting), to spend developing a new business for themselves.
5. Unemployed people usually know others who are unemployed and could use help.

Now, before we go on to talk about what elements are involved in a good gifting program, it must be understood that there is effort involved, and one should never get involved in any program unless they are willing to invest the time and effort that is needed to be successful . . . it’s no different than any other activity where monetary compensation is involved. The difference is that the payout comes much more quickly in a gifting program.

A legitimate gifting program can be very beneficial for anyone, whether they need money to pay their bills or if they simply want to increase their nest egg. I know of one gifting program that has been operating for more than seven years, has around 300,000 members, has put a half billion dollars in the members’ pockets and operates in more than 60 countries. Not bad for an activity that requires a one-time, out-of-pocket investment and can be done out of the home.

There are many who think gifting is an illegal activity and a pyramid scheme. This is not true. The gifting rules for the United States can be found in the IRS TAX CODE, Title 26, Sections 2501-2504 and 2511.  There are, however, gifting programs that operate illegally just like other scam programs. However, they are short lived and collapse pretty quickly on their own or are shut down by authorities.

These are some things that should raise the red flag when looking into gifting programs.

1. There is company ownership.
2. It is not treated as a private activity and is blatantly advertised as a business.
3. The money is funneled to the top of a "pyramid" where only the owners make money and the activity of the members is strictly to recruit people.

The activity of a well-designed gifting program is by invitation only. It is composed of like-minded people who willingly give and receive gifts of money. There is no company ownership, and all gifts of money are distributed to the members . . . 100% in, 100% out. A good program should provide members with their own website to use as a presentation tool and should include a well functioning back office to track and accommodate the giving and receiving of monies. This is usually funded by a small subscription fee.

A typical gifting program is based on a "1 Up" system. There are variations; however, this system is the most common.

To make this easy to understand, let’s say you are a member of a gifting activity. You have invited two people (we’ll call them Bob and Mary) to join you, and Bob and Mary each invited two people to join them. You now have six members in your group.

Let’s say you all made pledges of $100. The 1 Up system is designed so the pledges of Bob and Mary go to the person who invited you. The pledges of Bob’s two people and Mary’s two people would be received by you – you have now received $400 and pledged $100. At this time you would take $100 of the $400 you received and pledge again to keep yourself active in the system and ready to receive again. You would then have $300 remaining, and that would be yours to keep.

You can invite as many people as you like into a gifting program and keep pledging and receiving time and time again. There may also be a tax benefit in gifting. Since the taxes on the gift have already been paid by the pledgor, many times it is not required to be included in the gross income of the recipient and taxed again. But, check with your accountant just to be sure your situation isn’t different.

Since gifting is such a quick way to bring money in, I predict it will become one of the most popular home-based business activities.

To learn more about gifting programs and how you can get involved, contact Swanie Brandt directly at swanie@powerimage.com, or you can visit www.powerimage.com/g1g4.

Swanie Brandt has been involved in the network marketing industry for more than 8 years and has extensive experience and knowledge in getting past the network marketing “hype” and focusing on achieving success. Her primary goal is helping people succeed in the network marketing industry so they can attain the dreams they envision.

What do you really want in life?

Most people don’t discover what they want in life until it’s time to die – and that’s a shame.

People spend the best years of their lives doing things they dislike or watching television. An author described humanity by saying, “Most people die at twenty and are buried at eighty.” Are you one of the living zombies?

What do you really want in life?

Most people struggle in answering such a question. Many are unsure when asked what they want or what their goals in life are. They flitter throughout their days, hardly giving any thought about what they want in life. People without definite goals are letting time pass them by. Are you one of these people?

If you are undecided about what you want out of life, don’t worry.  There are many ways of discovering your purpose in life.

To discover what you want in life, try looking deep into your heart. Oftentimes, people are ruled by logic. People live by what they think they should be or by what others want them to be. The discovery process is the perfect time to listen to your heart. What your heart desires comes from the whispers of your authentic self. Your authentic self is the real you.

You must listen to your heart to hear your authentic self. What your heart says usually feels right. What your heart desires is what you usually love to do and this represents your passion. Anything done with passion is like play where the task is accomplished without hesitation. You pour out your very best and feel no pressure or resistance.

You will completely enjoy doing things that are your passion. Setbacks, difficulties, and obstacles will make it more challenging, but should not deter you from pursuing your goals. Naturally, there may be barriers that may prevent you from reaching your goal, but your heart’s desire will find ways to overcome these barriers so that you may ultimately get what you want in life. Remember this: the universe supports people who are pursuing their passion and those who are pursuing their destiny.

However, this does not mean that you don’t use your head. People are born with both the mind and heart. Your duty is to live your best life and be in harmony with your mind and heart. The poet Rumi wisely said, “Live completely in the head and you cannot feel the breath and rhythm of life. Live completely in the heart and you may find yourself acting like a love-struck fool with poor judgment and discipline. It’s all a fine balance – the head and heart must forge a lifetime partnership if one wants to live a beautiful life.”

Listen to your instinct. Part of human nature is the mysterious and spontaneous reaction to things. Often times, these are called instincts. Your authentic self communicates with you and guides you via instincts. Instincts are those gentle nudges that urge you to act and follow a certain path. Your role then is to listen attentively.

Often times, we listen to what others say and allow them to run our lives. Parents often do this to their children. “We come from a family of doctors, so my son must also be a doctor.” How often do we hear this from parents who have good intentions for their children? Parents unconsciously block the true expression of their child’s real self and calling. Friends and critics will discourage you and point out the impossibility of your dream. Before heeding their advice, evaluate the accomplishments of the critics. Did they achieve their dreams? Do they dream big at all?

Remember, it is your destiny that is on the line, not theirs. It doesn’t mean, though, that you will not listen to what other people say. Hear them out just the same. But the final decision should be yours.

There is only thing to remember: Every person, to live truly and live greatly, must define how he wants to live and what his brightest life will look like. Listen to your instincts and follow your heart’s desire. You will never go wrong.

Recently I was given a book that has made a significant impact on my view of giving and charity. Actually, it turned my entire concept of giving, charity and philanthropy upside down. The book was written by best-selling author and self-development guru Joe Vitale.

The premise of this book is that people who give freely without expectation of return will experience prosperity from unrelated sources. Things will show up out of the blue, people will help you in ways you never imagined, etc. By starting the cycle of giving freely it will come full circle by benefitting you. If you give only to receive you have defeated the purpose and you will most likely see nothing in return.

Many of us grew up going to church and putting money in the offering tray. It felt like an obligation, you would be ashamed if you didn’t contribute. We really didn’t know what we were contributing to. We just knew that it was what you had to do to be a good person. The money was given as an obligation and not given freely with joy. In fact, if the offering was done in secret, I’m guessing a majority of the people wouldn’t contribute because it didn’t make them joyful.

I’m not condemning contributing to churches. I know how beneficial houses of worship are to society. I’m just suggesting churches would be much more successful if the parishioners were more connected to how the money was used and didn’t feel as if they “had” to contribute, but instead “wanted” to contribute. When people know how they are helping, and when they give with a warm and joyful heart, they feel joy and happiness themselves. This is a critical aspect of Joe Vitale’s book.

As I grew up I realized how critical it was to contribute to charities because in many cases these charities were providing help to people who had no other resources. Giving to them felt good. I knew where the money was going and how people were being helped. And when I gave to charities with a good feeling in my heart, I usually experienced something good happening to me. This was also the case when I helped out people who were in a tight spot. In both cases I expected nothing in return, yet I always seemed to be the recipient of something good from a completely unrelated source.

It wasn’t until I read Joe Vitale’s book that I put two and two together. That is when I finally realized that my giving freely, with an open heart and with no expectation of return was causing those good things to happen to me. Wow, that was quite a realization.

Vitale provides real stories from real people of how they freely gave without expecting anything in return and how they benefited in unexpected ways. He also talks about some of the great philanthropists of history and how their giving increased their net worth substantially.

As an example, John D. Rockefeller began giving money away as a child. As his income grew the amount of money he gave away grew. By the time of his death he had given away $550 million. PT Barnum was another example. He coined the term “profitable philanthropy.” He knew that giving would lead to him receiving, and he become one of the world’s richest men.

At first when I was reading, I felt a little uncomfortable because it seemed these people were focusing on how they were benefitting. It seemed a little selfish. Then I started thinking about it; they were able to continue to give and to increase their giving because they were receiving. I realized there is nothing wrong with receiving as long as you do it with gratitude and continue to give and help others.

I strongly recommend anyone questioning giving and charity read this book. It will not only change your life but the lives of countless others in need. Additionally, by living by this example you will inspire others to do the same. You will be expanding the circle of prosperity to people throughout the world.

By the way, the name of the book is “The Greatest Money Making Secret in History.”

I feel so strongly about the power of giving and receiving I am giving this book away to anyone interested. Go to www.powerimage.com/giving to request your copy.

Finding the right business for you. Some of you may know exactly what kind of business you want to start, or you may have already started it. Others may have an intense desire to start a business, but they don’t know what type of business. Deciding what your business will be is a critical step in your journey to business and financial success.

To begin, take a piece of paper, a pen or pencil, or open a word processing document and start listing all or your skills and talents. What are you good at? What do you enjoy doing? What skills have you learned throughout your life? And most importantly, what are your passions?

It is important to be objective because often we don’t give ourselves credit for the skills and talents we have. We just assume that if we can do it everyone can. That is definitely not the case. If you are having problems doing this ask family members, coworkers or friends to tell you what your skills and talents are. We are seen much differently by others than we see ourselves.

Once you have determined what your strengths are, it is important to truthfully identify your weaknesses. We all hate to admit we are not good at something, but when it comes to running a business, it is critical for everyone to know what they are good at and where they need some help. No one can be good at everything, so admitting a weakness has no relevance to whether you will be successful or not. In fact, by admitting and accepting your weaknesses you can proactively find alternative solutions to handle that area and you can focus on your strengths.

Something else to consider is your risk tolerance? Are you pretty cautious with your money and are looking for a lower rate of return for your business but a higher chance of success? Or, are you ready to take more risk for a higher rate of return? That is a personal decision and neither is right or wrong, it just depends on you.

It is important at this point to honestly determine how you are going to finance your new business. Are you going to finance your business from savings or from your current salary, or do you plan on borrowing money from a bank, friends or family members? Or maybe you are taking on a partner, giving them a percentage of the company in exchange for start-up capital.

How much money do you have to invest? I guarantee what you estimate you will need to start your business will be at least 25% short if not more. So, when determining how much money you need be sure to overestimate. If you are borrowing money from friends or family it is a good idea to have the agreement in writing in case there are any discrepancies in the future. It is much better to lay out the agreement in the beginning than to try to piece it together after there has been a misunderstanding and feelings are hurt.

The next step is to do some research. Take a look at the types of businesses that match your skills or talents. Take some time to research the market for these products or services. Is the market young or mature? Is it under or over developed? Are there changes that can be made to existing businesses to improve the market or service? Don’t be afraid to be creative, but do market tests before committing to something entirely new.

You can also look at prepackaged business or franchises. For example if you want to invest at least $1 or $2+ million, you could open a fast food restaurant and everything would be laid out for you. Of course you would have to find a location, have the building either built or fit out, hire employees, learn how to run the business per the franchise rules, etc.

If you decide to open a shop or restaurant on your own you will have the same issues as above, plus you will be completely on your own in regards to purchasing merchandise, marketing, policies and procedures, hiring employees, etc. This can be a very rewarding experience, but make sure you have the capital, a great idea, stamina, and business acumen to be successful.

If you are looking for something smaller, there are many opportunities in direct sales and multi-level marketing (also known as MLM or network marketing) that can generate a good income if you devote the time necessary. These are generally a small, home based business which you can run out of a bedroom or den in your house. Additionally, many of these opportunities are now internet based business opportunities so there are no meetings to go to or inventory to manage. This is nice because it cuts down drastically on your overhead costs and gives you flexibility on how you spend your time.

Unfortunately, these businesses have gotten a bad rap lately, not due to the businesses themselves, but because too many people were promising great income generation without having to lift a finger. Well, we all know that work is required to be successful in business. If you are dedicated and committed to building these opportunities then you will prosper.

Finally, be sure to consult with your attorney and accountant as you set up your new business. They will be able to make sure everything is set up correctly and you are off to a great start!