Don’t Fool Yourself! Online Business Is Tough!

An Online Business Will NOT Solve ALL Your Problems!

Let me challenge you with this statement: There is a difference between what you EARN and building WEALTH.

automatic millionaire65 Dont Kill Your Online Business Before It Starts!

The Automatic Millionaire, by David Bach


This concept is from David Bach’s book, The Automatic Millionaire.

In this book, Mr. Bach challenges readers to break free from the “normal” race, a race that looks like this for most people:


GO TO WORK…MAKE MONEY…SPEND MONEY…
GO TO WORK…MAKE MONEY…SPEND MONEY…
GO TO WORK…MAKE MONEY…SPEND MONEY…

Many call this the “rat race”, and most people work 40, 50, or more hours per week. Then they still have almost nothing because they spend all (or even a little more) than they earn. Worse yet, after following the 40-40-40 “plan” (you know, work 40 hours per week for 40 years, and then try to “retire” on 40% of what you used to make!) they THEN realize that they saved and invested too little and have not accumulated assets.

David Bach offers a simple solution: pay yourself FIRST!

Simply take 10 percent from your paycheck and have it deposited – AUTOMATICALLY – in a savings account BEFORE you have a chance to spend it!

(Mr. Bach also acknowledges that if you are currently over-spent that you will need to make some changes in your lifestyle to make this strategy possible. Plenty of suggestions are found in the book and his website.)

BUT – when you gain control of the outflow of cash you can start to work towards the 10% goal. You may have to start at 3%, or less! But eventually, separating out 10% will be both painless and rewarding!

So what does this have to do with becoming a self-employed, online business person?

Well, as an online marketing training mentor I receive inquiries from many people who are thinking about starting an online business. Most are still working at a full-time job (sometimes caustically referred to as a J.O.B. – that is, “just over broke”!)

No matter how pure and ambitious your goal, if an online business is sought as a way to offset irresponsible spending habits you have a tough obstacle to overcome.

To put it another way, if you have the bad habit of spending more than you earn, what is going to change when you add some income from your online business?

Don’t you already have your eye on MORE things you are going to buy with the “new income”?

Or maybe you are hoping to maintain the same lifestyle with less income (“retiring” your spouse or moving from a full-time job to part-time.)

Regardless of your current financial situation, I would like to endorse David Bach’s “Automatic Millionaire”. You will learn that your “wealth” has little to do with your income!

My goal for a home-based business is to Own My Life. Learn what I think defines Owning Your Life at my “Lifestyle Trainer” website. Then you will be positioned for true success in your online business!

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Learn What It Means To Own Your Life

I hope that you found this information helpful and interesting. I know you might not agree completely, but that’s okay!
In any case, please leave a comment below!
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Randy Reek

Randy writes about topics that affect your finances, including Making Money and Saving Money. Randy is especially passionate about entrepreneurship. The Marketing Training section includes EXACTLY what Randy is using NOW to earn a full-time income as an online marketer - and how you can do the same! If you think any of the posts or articles would be interesting to others, please forward to your contacts. Follow Randy also on Twitter and Facebook!

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Randy Reek

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Randy writes about topics that affect your finances, including Making Money and Saving Money. Randy is especially passionate about entrepreneurship. The Marketing Training section includes EXACTLY what Randy is using NOW to earn a full-time income as an online marketer - and how you can do the same! If you think any of the posts or articles would be interesting to others, please forward to your contacts. Follow Randy also on Twitter and Facebook!


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