Thursday, January 21, 2010

Small Businenss Owner: Where Should You Invest Your Hard Earned Money ?

Here I am with Nicole Dunn. We are at a jet launch. This is going to be a heck of a year.

As a coach, I see the power of coaching in my own life. One assignments I got from my coach was to "make numbers your friend."
Here are some tips from fellow Huffington Post columnist Loral Langermeir

"It's still a little scary out there, I know. Where should I look for those good rates of return? How can I turn my mattressed money into a cash machine?

1. Real Estate: this is news to most people, but the real estate market cycles. It goes up, then down, then up again: it always has, and it always will. As the population is growing, people will need land. Right now the price of land is at garage sale prices that will not be seen again for years. By now, sell high.

2. Bankrupt Businesses: the credit crunch and depression have driven many businesses into bankruptcy. Not because they were necessarily bad businesses, but because the owners didn't really understand the business conversation. Buy a business, and build yourself a cash machine better than any bank can offer.

3. Invest in Ideas: if you or someone in your family has a great idea for a new service or product, don't shove that under the mattress with the rest of your money. Get out there and make something of it. Find a coach who can help you turn that concept into cash.

4. Spot your Skills: what can you do that someone else would pay you to do? You have a skill, either a talent that you have developed or something that's been trained, that can become your new cash machine. "

As you know I am a huge believer in investing in your skills! You deserve to invest in you!

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