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5 Lessons You Can Learn From A Millionaire Trader

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Some of what you might read in this article could seem simplistic, that’s because success is simplistic if you let it be. This time you are going to see success from a different lens through an interview I did with the very Successful Millionaire Trader Andy Man who owns a business called Serman Traders and is the author of “How I Turned $1,600 into $1.7M In The Financial Markets”. Whether it’s trading or another business, the success principles are the same, but it’s crucial to have lots of different references from a variety of entrepreneur’s.

In 2006, Andy graduated as a civil engineer, and he knew nothing about the stock markets or trading. Once Andy got a job, he realised he wasn’t able to live the life he wanted even if he became a manager in the company. He started looking for alternative ways to make money and took a course in trading with his now business partner, Mike Ser. In 2011, Andy turned $1600 USD into $1.7M by trading silver using everything he had learnt. It was always Andy’s goal to become a millionaire by the age of thirty.

 

***The AHA! MOMENT Of The Interview***

The most shocking part of the interview was when I asked Andy how old he was. He started by thinking about it and then he couldn’t work it out. He just said I think I am over thirty. Andy is not a guy that remembers how old he is all the time like a lot of society, and he doesn’t even celebrate his birthday. By not focusing on his birthday, Andy says it allows him to focus his time on things that are more valuable. He says you must always think positive and whether your old or young there are benefits on both sides.

Your attitude towards success is something that Andy says will make a big difference in your entrepreneur life. If you don’t want to move, you will stay still for the next ten years. If you are motivated to achieve your goal then at least you have some hope to move forward. This doesn’t mean all the time that if you are motivated you will definitely achieve your goal, it takes a lot of hard work as well. Notice how the ultra successful like Andy always have a positive mindset? This is something that I have seen in every interview I have done on Addicted2Success.

Below are five Lessons Andy shared with me in the interview that you can apply to your life as an entrepreneur.

 

1. The psychology of trading can teach you a lot about entrepreneurship

In the beginning, Andy didn’t achieve financial freedom and he would lose money then make money over and over again. He says once you learn from your mistakes you get better everyday.

In the first year of trading, he lost money. The second to fourth year Andy worked on fixing up his bad trades. The mistake he was making was that he was able to turn $5000 very quickly into $100k, but then he would be too greedy on the profit side and would lose half of it. You need to secure your profit and try and ride the right trend and in 2011, with this strategy, Andy was able to turn the corner and start making some serious money.

No one is perfect and different people have different flaws. Try to identify yours and fix them, and then you can be successful. Once you know how to make money in the market, all you need to do is start to look back on your bad trades and fix those up, and then you will have more success. Andy knew to short (bet the price would go down) silver because it had happened before, and scenarios often repeat themselves in financial markets. The market for gold and silver goes up every US summer from June to August and has done so 9 out of 9 times in the last nine years. Andy puts stop losses in so he can know how much he would lose if he were wrong. Lose small and win big. You need to have a good risk management strategy otherwise you will do the reverse, lose big and win small – another lesson that applies to entrepreneurs.

The first year in trading is the toughest because you lose money more than you win, but you can never give up. Only 10% of people succeed with trading, and Andy keeps telling himself he will be part of this 10% – keep telling yourself you can do it. The hard part is staying disciplined. Being in the minority and staying disciplined will be traits you need to be an entrepreneur.

After making the $1.7 million Andy diversified his portfolio and allocated a large portion to real estate investing to get a passive income. Trading is not a stable income and Andy can’t see a big opportunity every single day so during the quiet times the real estate and Serman Traders income help provide the foundation for stability. Once the foundations are solid, this allows Andy to take calculated risks in his entrepreneurial endeavours and this is an important lesson.

 

2. The power of constantly learning

Driving a car is very similar to trading and being an entrepreneur, Andy says. At first he started with 1-10 leverage when he made his first million, now he is off his learner plates and uses 1-100. Just make money first and then when you get some consistency, then you can add more leverage. Trading is one of the ways to financial freedom if you take the time to understand it. A kid can do very well in trading because they follow the rules, but the older the person is, the more stubborn they are, and the less likely they are to be able to follow rules.

Part of Andy’s course involves making a daily video, which his students must watch to see what Andy is noticing in the market and where the opportunity is so that they can mirror it. The three things that people do wrong when they watch Andy’s video are they do nothing, miss the opportunity and chase the market, or they are too aggressive. If you follow the rules, then you will make money but most people can’t overcome the psychological limits that you need to have to be a good trader. There is nothing better than seeing mentors trade close to a live environment and being able to learn their strategies in the real world.

Being an entrepreneur is not about following the rules (quite the opposite) but you have to learn not to be stubborn and take the time to understand your business.

 

3. Plan your day for success

A day in Andy’s life involves waking up at 6am to catch the markets and trade for around two hours as well as catching up on the market news. In the afternoon, he trains his students all around the world and then late in the day he will host some live seminars in his office at night at around 4-5pm. At 7pm, he spends time with family and then between 10-11pm he will start to do the daily videos. The day then finishes between 11pm-1am where Andy does a final two hours of trading the Gold / Silver market.

The key is to be able to focus on what you’re doing, Andy says. You have to know your schedule well and plan ahead, so you know what to do. Andy always plans his trades ahead of time before the markets open. A lot of people don’t have a plan, and they plan to fail. You will get very emotional during trading if you don’t have a plan. A plan helps keep you calm and on course.

To avoid distractions like social media Andy delegates these tasks and has learnt to say no to interruptions and distractions. When delivering training Andy has his full focus with the student and doesn’t let his phone or anything distract him because he is trying to deliver the maximum value he can. Outside of trading Andy is married with a young daughter and he says allowing your loved ones to know your schedule well avoids unnecessary distractions and means that if they’re calling you it must be urgent – keep your phone on silent so you can focus.

Have a notebook next to you at all times to record your thoughts. It’s always good to write things down along with a weekly to-do list – try to work smarter rather than harder. Think before you do, if you do and think at the same time you will be very inefficient and be doing things that are unnecessary. Also, don’t forget to always leave some buffer time between appointments and build in breaks into your schedule even if you don’t plan on using them, just in case.

Plan for a busy day now and then, and know what your worse day looks like. Once you know your absolute worse day, plan how you are going to manage it and build in the meals, so you don’t starve and have no energy. Andy knows that every Tuesday is going to be a crazy day, so he knows how to deal with it.

Running your day as a trader is very similar to running you day as an entrepreneur, just focus focus focus and make sure you enjoy life at the same time!

Playing golf on a boat

4. Always be on a journey to mastering personal growth

We have different goals and priorities in life and natural strengths and weaknesses, which are determined by our personality type. The key is once you know your weakness you must not continually repeat the same mistake. If you do this, you will be very likely to go into a natural loop of failure. As an entrepreneur, you probably won’t notice the mistakes you make because they are too minor. When you talk about money though, a lot of people get more sensitive. It sounds easy to overcome your mistakes, but it takes time due to the psychological aspect. A good entrepreneur recognises their weakness and learns from their mistake – it’s that simple.

Andy found himself to be up and down as an entrepreneur until one day he sat down and looked at what mistakes he was making with the mindset of finding a solution. There’s only two ways to do anything, avoid making a mistake or try and figure out a solution. Once you have your solution, you need to write it down on paper so next time you see the same situation, you don’t make the same mistake again. This realisation was the key turning point for Andy to become successful and start making a profit from his trading.

To grow you need to keep yourself inspired. It’s always good to hear other people’s stories and experiences so that you can draw inspiration from them. Talking and engaging with them will deepen the learning even further. Try to broaden these moments of inspiration from different areas, and one’s that you may have nothing to do with like marine biology. Outside of variety don’t limit yourself to the same class of people either. Spend time with poorer people, middle-class people and rich people. Each of these classes will teach you different laws of success.

Between the ages of twenty to thirty most people stop learning new things. To grow you will need to be open to learning something new all the time and remember you don’t have all the answers to anything – no one does. Finding inspiration can also be found in attending meetups, talking to your friends and teaching students. Andy’s students often reveal to him things about life and networks that he has not yet tapped into.

For Andy to continue his own journey of personal growth, in 2011 after he made millions, he went on a missionary trip to China and started helping out handicap children. While staying in very poor surroundings on this trip he began to see that he is the one that is really fortunate and this motivated him to spend time helping other people. When you help other people you see the happiness even more, and you know that your wealth has helped create this. The lesson here is that even if you have nothing you can be very happy as well. If you find yourself being very aggressive towards making millions then attempt a trip like Andy did, and you will come back feeling more humble and not be so obsessed with money.

The lesson here is that even if you have nothing you can be very happy as well. If you find yourself being very aggressive towards making millions then attempt a trip like Andy did, and you will come back feeling more humble and not be so obsessed with money.

“Happiness is always a choice. You can’t wait for circumstances to change you have to create your own fortune and look for ways to be happy each day”

 

5. Switch your mindset from employee to entrepreneur

When Andy used to be an engineer he got paid to work but the responsibility was nowhere near as much as what it’s been since becoming an entrepreneur. As an entrepreneur, you get paid for results not for showing up. Some of the work you do you may not get paid for. For example when you develop a product as an engineer you get paid through the process where as when you do the same thing as an entrepreneur you don’t, and it’s a very different mindset to get used to. During the times as an entrepreneur when you’re not getting paid, you must be able to tap into your optimism otherwise you won’t be able to get through this stage.

There is no ceiling on your income as an entrepreneur at any one time whereas working a job can be more restrictive, and there are annual limits to your earning capacity. As a trader, you can make as many millions of dollars as you like but Andy reckons he had to learn to not be too greedy. He used to have nothing but when he had something his mindset changed, and he wanted to preserve it and use it as a platform to build off of.

The way Andy explained this phenomenon to me was that before you become an entrepreneur you are all about capital gains, but once you become an entrepreneur you start thinking about how to maintain and increase a positive cashflow.

Andy Man From Serman Traders

Andy Man From Serman Traders

If you would like to enrol in Andy’s trading courses then visit the Serman Traders website where you can sign up for the priority list and receive a free copy of Andys eBook “How I Turned $1,600 into $1.7M In The Financial Markets”

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared millions of times and he has written multiple viral posts all around personal development and entrepreneurship. You can connect with Tim through his website www.timdenning.net

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2 Comments

2 Comments

  1. Tim Denning

    May 19, 2015 at 7:41 pm

    Agreed Lawrence and the fact that Andy didn’t have any experience at trading Gold/Silver shows that you can make money in anything if you put your mind to it.

  2. Lawrence Berry

    May 18, 2015 at 10:36 pm

    These are some great tips from Andy. His ability to learn from his failures, combined with the determination to focus and master his craft was the defining thing in his success. With so many distractions in the world today with all the social media an technology, it really makes it hard to focus on a single task for so long. We have become a very distracted and impatient society, but we must move away from what the masses do in order to be extraordinary.

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Why Sean ‘Diddy’ Combs Is So Successful

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Image Credit | Billboard

Sean John Combs, also known as Diddy, P. Diddy and Puff Daddy is the founder and CEO of Bad Boy Worldwide Entertainment Group. The company is a business powerhouse with several streams of income.

Diddy oversees an empire that includes music recording and production, TV, Film, alcoholic beverages, apparel, restaurants and more.

 

Diddy’s Early Life:

diddy net worthDiddy was born in Harlem and raised in Mount Vernon New York. He first got into the music industry at Uptown records as an intern where he went on to become talent director after dropping out of Howard University. He went on to sign and produce Mary J. Blige.

In 1994, Diddy founded Bad Boy Records and signed just 2 artists at the time. They were Craig Mack and close friend Notorious B.I.G. The label went on to achieve huge success with these two original artists as well as; Mase, Lil’ Kim, Faith Evans and others.

 

 

The Growth of a Music Empire:

diddy net worthTwo years later in 1996, Diddy embarked on an incredible 50/50 joint venture with Clive Davis and Arista Records which would allow Bad Boy Records to market their artists to a global marketplace. After an amazing run of success and consistent business growth, Bad Boy Entertainment ended their joint venture on good terms in 2002. Part of deal was for Diddy to retain full control of Bad Boy Records, the artists and the entire back catalogue.

In the early part of 2003, Diddy and Bad Boy Records announced that they had signed a global distribution deal with Universal Records. The terms of the deal dictated that Universal would provide promotional and marketing services for Bad Boy’s artists and distribute new releases as well as the back catalogue. Crucially, Diddy retained 100% ownership of Bad Boy Records.

 

Diddy’s estimated net worth is $825 Million.

 

Clothing Line:

diddy clothingIn 1998 Diddy founded Christian Casey LLC, named after his second son. The company designs, produces and distributes urban fashion clothes and accessories for males and females. Christian Casey operates as Sean John Clothing and owned by Bad Boy Entertainment. The Sean John fashion label has been extremely successful with yearly sales in excess of $100 Million. In 2004, the brand was awarded the ‘Men’s designer of the year award by the Council of Fashion Designers of America. Diddy’s Sean John Enterprise also purchased the Enyce clothing line from Liz Claiborne for $20 million in the latter part of 2008.

 

Fragrances:

diddyIn a joint venture with Estee Lauder, 2005 saw the birth of Sean John Fragrances. Diddy’s flagship fragrance, Unforgivable, reached Number one in department stores in the USA in a very short space of time. Sean John Fragrances have since expanded to incorporate; Unforgivable Woman and I Am King, which are being sold all over the globe. Unforgivable became the first male fragrance to to claim the title of ‘Best Selling Fragrance’ in 2006 according to a leading retail and consumer information provider. Diddy has twice won ‘Fragrance of the Year’ at Annual FiFi Awards hosted by The Fragrance Foundation, once for Unforgivable and once for I am King.

“If you dream and you believe, you can do it” – Diddy

Alcoholic Beverages:

diddy net worthIn an incredible and lucrative move, Diddy entered into a partnership with Diageo to create and manage all marketing processes for Diddy’s brainchild, Ciroc Vodka. The deal dictated that Diddy and Sean Combs Enterprises make all brand related decisions and share future profits and growth with Diageo. This unique collaboration for a USA based spirits company, is set to last several years and will be worth an estimated $100 Million for Diddy.

In the early part of last year, Diddy ignited another partnership with Diageo in order to kick-start a joint venture to purchase DeLeon, a luxury Tequila brand. DeLeon is currently selling for $1000 per in Los Angeles bars. It is currently selling around 10,000 cases per year in only 18 states so Diddy’s famous ability for business growth is destined to take effect for the brand.

“You have to be somewhat crazy, if you want to be successful.” – Diddy

Revolt TV:

diddy revolt tvIn 2013, Diddy was backed by Comcast to launch Revolt TV, a music cable network that is believed to be owned solely by Mr. Combs. In the Spring of last year, Diddy was believed to have bid $200 Million to buy Fuse TV to gain a wider distribution and higher subscriber fees. Although this bid was unsuccessful, it was a clear show of Diddy’s intention to grow the channel and we can expect much more of that in the future.

 

Conclusion:

Diddy is an incredible example of how a persistent, obsession like approach to business growth can create amazing results. It is important to realize that Diddy is one of those ‘self-made’ people that can inspire to believe and take action on our dreams in order to make them a reality.

 

Diddy’s Success:

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5 Tips for Launching a Successful Blog

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Image Credit: Twenty20.com

Blogging has become the most preferred side hustle because of its income potential and the fulfillment it brings. No matter what you want to write about, blogging is the best way to pursue your passion and earn money at the same time.

My blogging journey has been an amazing one although there were challenges along the way. What started as a simple desire to share my work at home experience turned out to be the most fulfilling mission I’ve ever had.

In today’s world where the digital landscape is crowded and oversaturated, you need to have a solid plan before launching your blogging business. Your launch can really bump up your blog exposure, so it’s recommended that you take the time to carefully think through the process and pay attention even to small details.

What is a Launch Plan?

In simple terms, it’s how you are going to let others know that you started a business (or a blog in this instance). A launch plan is a pedestal to show your new business to the world and it details what platforms you will utilize to attract your target audience. Having a clear strategy from the start will go a long way, and it will surely help you achieve your goals.

Here are 5 of the most important things you should do before you launch your blog:

1. Do Your Research

Assuming you’re already 100% sure about your chosen niche, and you’ve had a couple of blog posts up before your launch, the next thing you’d have to do is conduct market research. Find out where your ideal blog readers are hanging out, what blogs they are reading, what questions they are asking, what products they are buying and what social media platforms they are on.

List down the answers to the questions above, and from there, you can start setting aside a budget and creating a timeline for your launch. The research may take you a few days up to a few weeks, depending on how thorough you want it to be.

To be honest, the process of picking your niche, acquiring a domain and a hosting plan and even writing a few posts is much easier than planning your blog launch and going through the market research itself.

“Don’t focus on having a great blog. Focus on producing a blog that’s great for your readers.” – Brian Clark

2. Finalize the Promotion Channels

Writing helpful content is paramount, but knowing where to promote it is also vital. You have to list down the promotion channels you want to utilize and set them up before your launch. Many newbie bloggers often miss this critical step; thus, they fail to build traffic, they get frustrated and they give up too quickly.

In my personal experience, the traffic and the initial readership that my blog had in the first few months after the launch came from word of mouth promotion that I did. Apart from that, I also made sure that I use Facebook, Twitter, Pinterest and Instagram to my blog’s advantage.

3. Be Ready to Invest

Starting a blog might not cost you much. But it requires time, effort and dedication. You have to be disciplined enough to pay attention to details like your website’s theme and overall design. You should be ready to invest in learning about different concepts of your niche and you need to sign up for the must-haves like ESP (email service provider), automation tools, and design software.

Do not play safe. Sometimes you can only find success if you go all out and spend some ‘dough.’ Trust me, I have done it and have never regretted almost anything I bought for my blog. In fact, all my learning resources contributed to the success of my blog.

It is also advisable to have a stable fund when you launch your blog. Sure, you will be able to generate money from the blog but just like any other businesses, a start-up investment is required so you can sustain your blog and post fresh content pieces weekly.

4. Focus on Your Brand

Online businesses thrive on the uniqueness of their brand. Having a good brand strategy and working on developing a voice of your own can give you the best results going forward. Successful online entrepreneurs like Melyssa Griffin, Nathan Chan, Amy Porterfield have a unique brand voice of their own, and they have vast readership.

Work on building your brand from day one, whether it is through your blog’s theme or social media channels. How do you do this? Just ask yourself the question, ‘How do I want want my readers to see me or what do I want them to think about when they read my blog?’.

Having a clear idea of what your blogging business is about can get you loyal followers and more exposure. Building a brand can be a long and tedious process, but if you start it right, it will surely pay off.

“A blog is merely a tool that lets you do anything from change the world to share your shopping list.”

5. Network

This is the big part of your blog launch. Whether you blog about e-commerce, lifestyle design, entrepreneurship or making money online, you need to be able to find like-minded people to connect with and help you spread the word about your blog.

Networking is a pretty big thing in the business world but the best thing about it is, you can find people to connect with just about everywhere. You can connect with them using social media, forums, groups, and during events.

Networking is also a means to find friends who will uplift and strengthen you as you push towards achieving your goals. I have a lot of online friends who ‘get’ what I do as a blogger and they have been very supportive of my business. These friends helped me form a community where we can share insights and help our readers. Start joining the right groups in your niche now so you can learn more about your target readers and develop a relationship with other influencers and bloggers.

Though it sounds straightforward, starting a blog means you are making your first step towards starting an online business. Doing the groundwork is as important as ‘hustle’ or ‘grind’. Although the overall success of your blogging business will still depend on how consistent you are and how determined you are in making it work, these simple tips can ensure that you will achieve the results you want for your blog launch.

Image courtesy of Twenty20.com

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5 Reasons Why Underdog Entrepreneurs Are More Likely to Succeed

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The world is in a place right now where everything is changing faster than ever. Thanks to the digital era, we are enabled to fulfil our dreams easily. Be it the flexible policies or the availability of easy information, it all allows us to work more effectively towards our goals. It’s the same for entrepreneurs alike.

Not everyone is cut out to be an entrepreneur though, that’s mean but true. However, there are many more entrepreneurs today than there was just a decade ago. How is this happening?

People without entrepreneurial backgrounds are trying their luck and succeeding too. It’s a good wave for everyone, the consumer and the seller. The market is working together to reduce the gap between demand and supply. Not only is this keeping entrepreneurs on their toes, but is also encouraging them to think out of the box.

This sudden rise in the number of entrepreneurs could also be attributed to the availability of investors. They most certainly think differently than their predecessors. The desire to bring in the right change in society is the only thing similar between all generations of entrepreneurs.

Who is an underdog entrepreneur?

Underdog, as the term suggests, is someone who is least expected to succeed within a group of talented individuals. It is the same person who has the least power, say or authority in the lot. Underdogs are never usually even considered to be on the winning side. This in return makes it obvious for others to not have any hopes on them or worse, not even consider them. Some could argue that underdogs are usually not visible to others.

“Being underestimated is one of the biggest competitive advantages you can have. Embrace it.”

However, over the years the above definition is seen in a more positive and different light. Underdogs are highly respected and regarded now, because of the uncertainty they carry with them. It reflects on the idea of someone weak or slow, working harder to be in a better position. Underdogs look appealing today because of their efficiency at breaking odds and coming out stronger. Today, underdogs also answer to the injustice or unfairness they are fighting to succeed.

Here are 5 reasons why underdog entrepreneurs are more likely to succeed:

1. They don’t take any aspect of their business for granted

Underdog entrepreneurs are from humbler backgrounds in terms of experience making them sceptical. They take every aspect of their business seriously. Be it something as small as managing their accounts or something as big as meeting an investor, they do it with equal determination. There are times when big businesses face trouble for having taken a small aspect lightly. This is usually never the case with an underdog entrepreneur, who is always on his toes. He is careful and is alert about what’s happening in and outside his business. This keeps him aware and also allows him to plan ahead in time.

2. Their risk tolerance is out of the world

They have faced failures multiple times in the past. They do not have inhibitions and scepticism, unlike most entrepreneurs. Taking calculated risks is a wise choice but can also keep one back in today’s fast marketplace. Underdog entrepreneurs are usually more likely to take risks that others are not willing to take. This certainly puts them in a tricky position but also improves their chances significantly. They understand the risk they are taking and take it with authority. They are the same type of individuals who believe they have nothing to lose in the first place. They risk it with the hope of getting something better. Even if they fail they know how to rise up again. Staying motivated even in the toughest of times is an art they have nailed.

3. They don’t make unnecessary chatter or claims

Underdog Entrepreneurs usually have too much on their plates; given the multiple hats, they wear. They don’t have the time or flexibility to indulge in useless banter. There are two kinds of people; doers and talkers. They are the first kind, who focus on doing things better. Their words speak for them. Having faced rejection and failure, they are usually very cautious before making any claims. They take failure positively but also learn not to talk about outcomes that aren’t out yet. These are the category of people who let their work speak about them. Underdog entrepreneurs are usually never satisfied and try to make up for the lost time and repute.

4. They think out of the box and have unconventional ways

They are the kind of people who experiment and run wild thoughts. Their fearlessness makes them take calculated yet unconventional steps. It could be in their execution or their promotions etc. The world is changing and is craving to see the right change. Unlike earlier times, the ideal consumer today is more willing and open to the right changes.

However, the consumer wants to know the logical reason behind a change. Underdog entrepreneurs are making better decisions every day and coming up with quirky ideas too. This is the time and age for unconventional settings and decisions and underdog entrepreneurs are making the best out of it. Their experience at falling and getting back up each time teaches them how to find better ways to rise up.

“Underdogs adapt, evolve and become winners because of their preparation, heart, execution and the relentless attitude that the game will not end any other way.”

5. They have exceptional people skills

It’s very important for every business to connect with its people, its consumers. The unique bonds that brands are creating today, is what separates them in the crowded marketplace. Coming from humble beginnings, underdog entrepreneurs are humble and open-minded. They talk to people, connect with them, share and take ideas. Underdog entrepreneurs shine at creating relationships that matter to their business.

They understand that there are many others like them in the market and keep their ego in check. They are more respectful of their customers and towards their competitors. This keeps them open to new learning, which should ideally be the motto of every entrepreneur. This is the same ability that makes them better advisors, mentors, leaders and salesperson. They understand human emotions and values better.

When an underdog entrepreneur finds success, he/she makes others believe in the power of hard work and determination. This is the positivity that people look out for in the first place.

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7 Parenting Tips for Encouraging the Young Entrepreneur in Your Child

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young entrepreneur

The next big idea could be right around the corner. In fact, it could be coming from one of your kids. Children today have an excellent grasp on social media and the world of opportunities the internet provides. Because of these facts, it comes as no surprise that many kids today are starting to pursue their entrepreneurial goals as early as six or seven years old.

One child-entrepreneur survey polled 1,721 students in grades 5 through 12 and found that 77% of students wanted to be their own boss. A whopping 45% said they wanted to start their own business and not far behind were 42% of students who said they wanted to invent something that changes the world.

These big ambitions for such young children need to be cultivated, and as a parent, you can help them make their business goals a reality.

From online learning classes to teaching kids about money, here are 7 parenting tips for empowering kid entrepreneurs:

1. Encourage their curiosity

Kid’s have brilliant minds. It is often said that it is easier for a child under the age of seven years old to learn a second language than it is for adults. Why? Unlike adults, they are still steeped in education on a daily basis. Their brains are ready to create new information more willingly than an adult mind.

The Teachers College Columbia University reports that this has much to do with the prefrontal cortex, which contributes to an inventive and creative outlook on things. This curiosity and ability to learn should be encouraged by parents. Help them take online learning classes or find opportunities to do projects with them that relate to their interests and ideas.

2. Take your children seriously

One of the main ingredients of good parenting is letting your kids know you understand and support them. Children’s minds are always changing and growing. One week they may want to be an astronaut while the following week they want to be a veterinarian. These flip-flopping ideas may make it tempting to smile and nod when your little one expresses their desires, but don’t be so quick to say no.

If your child wants to be a pastry chef and asks you if they can sell cupcakes in the neighborhood, why not say yes? Yes, the mind of a child can change from one minute to the next, but parents help their children grow and explore new ideas when they take their requests seriously.

3. Teach children the value of money

In order to build a thriving business, children need to learn how to manage their money. A child who receives an allowance of $15 will have $60 by the end of the month.

You can help teach your child both responsibility and the value of money by encouraging them to spend money wisely. By using basic math or putting up a pie chart on the refrigerator, you can teach your children the importance of saving money and investing wisely in products to pursue their goals.

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” – Ayn Rand

4. Teach that it’s okay to fail

In the same survey cited at the onset, 91% of entrepreneurial students said that they are not afraid to take risks, even if they fail.

Starting a business is a big job that requires your child’s patience, drive, and responsibility. Putting all this effort into a project only to have it fail can be crushing for a young child.

It is important for you to teach your children that it is okay to fail. Highlight that having fun, learning and gaining beneficial experience should be the primary goal of their entrepreneurial career, and not necessarily fame and success.

5. Help your child get started

A great parenting tip for empowering kid entrepreneurs is to help them get started off on the right track. Help them do research about similar products or ideas. Is their pricing, right? Is there a current need for their idea or business?

If your kid wants to become an entrepreneur, it’s your job as a parent to help them make it a reality. This means helping them learn how to market their service or idea. This may also involve learning how to manufacture a product and taking online learning classes about their interests.

6. Look for opportunities

If your child wants to launch a product or service, they’re going to need opportunities to be in the public eye. This can be done through social media, word of mouth, neighborhood canvassing, and even getting a hold of your city’s news station to have a piece done on the local child entrepreneur.

Taking your children to such things as trade shows can also give them the opportunity to network with like-minded entrepreneurs. There are also various online learning classes that can help parents and children discover how best to market a new product and make business connections.

“In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

7. Make it fun

There are many successful child entrepreneurs with thriving companies today. At 12 years old, popcorn giant Orville Redenbacher, began growing his own popping corn in pursuit of the perfect kernel.

While his passion for popcorn did earn him enough to pay for his college tuition, no doubt, Redenbacher wasn’t thinking that he was going to turn his love of popcorn into a billion-dollar market. He was just having fun.

The same should be true for your little one. Childhood is a time for being carefree, not to be weighed down with worries and anxiety. One of the best parenting tips for encouraging little entrepreneurs is to make having fun the primary goal of their pursuit.

Follow these 7 parenting tips to help empower your child to pursue their entrepreneurial goals. Teach your kids the value of money, remind them that building a business should be fun, and get them involved in online learning classes to make the best of their budding entrepreneur spirit.

Which one of these tips do you feel is the most important to teach the next generation of entrepreneurs? Let us know your thoughts below!

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The Top 70 Buddha Quotes

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Image Credit | Tricycle Magazine

Buddhism has been around for over 2,500 years and is a way of life that about 300 million people around the world follow.

At the age of 35, Gautama left the palace walls where he had grown up and ventured into the real world to walk his own spiritual path. Sitting under a Bodhi tree until he became enlightened, ‘Buddha’ attracted a following and dedicated the rest of his life teaching the path of enlightenment and awakening to them.

Buddhism is a very calm, peaceful and fair way of life and these Buddha quotes encompass the philosophy of Buddha’s teachings.

Here are 70 of The Best and Highly Shared Buddha Quotes to enlighten your mind and soul.

(more…)

Charlene Barry is the fun loving founder of This Is Project Me, a wellness, spiritual and inspirational channel on YouTube that inspires others to live the life of their dreams with passion, love and joy. Charlene believes in serendipity, wellness and spirituality and is an Ayurvedic and Lifestyle coach; helping people live their ideal life through Ayurvedic medicine, Meditation, Yoga and Balance.

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2 Comments

  1. Tim Denning

    May 19, 2015 at 7:41 pm

    Agreed Lawrence and the fact that Andy didn’t have any experience at trading Gold/Silver shows that you can make money in anything if you put your mind to it.

  2. Lawrence Berry

    May 18, 2015 at 10:36 pm

    These are some great tips from Andy. His ability to learn from his failures, combined with the determination to focus and master his craft was the defining thing in his success. With so many distractions in the world today with all the social media an technology, it really makes it hard to focus on a single task for so long. We have become a very distracted and impatient society, but we must move away from what the masses do in order to be extraordinary.

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Entrepreneurs

Why Sean ‘Diddy’ Combs Is So Successful

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Image Credit | Billboard

Sean John Combs, also known as Diddy, P. Diddy and Puff Daddy is the founder and CEO of Bad Boy Worldwide Entertainment Group. The company is a business powerhouse with several streams of income.

Diddy oversees an empire that includes music recording and production, TV, Film, alcoholic beverages, apparel, restaurants and more.

 

Diddy’s Early Life:

diddy net worthDiddy was born in Harlem and raised in Mount Vernon New York. He first got into the music industry at Uptown records as an intern where he went on to become talent director after dropping out of Howard University. He went on to sign and produce Mary J. Blige.

In 1994, Diddy founded Bad Boy Records and signed just 2 artists at the time. They were Craig Mack and close friend Notorious B.I.G. The label went on to achieve huge success with these two original artists as well as; Mase, Lil’ Kim, Faith Evans and others.

 

 

The Growth of a Music Empire:

diddy net worthTwo years later in 1996, Diddy embarked on an incredible 50/50 joint venture with Clive Davis and Arista Records which would allow Bad Boy Records to market their artists to a global marketplace. After an amazing run of success and consistent business growth, Bad Boy Entertainment ended their joint venture on good terms in 2002. Part of deal was for Diddy to retain full control of Bad Boy Records, the artists and the entire back catalogue.

In the early part of 2003, Diddy and Bad Boy Records announced that they had signed a global distribution deal with Universal Records. The terms of the deal dictated that Universal would provide promotional and marketing services for Bad Boy’s artists and distribute new releases as well as the back catalogue. Crucially, Diddy retained 100% ownership of Bad Boy Records.

 

Diddy’s estimated net worth is $825 Million.

 

Clothing Line:

diddy clothingIn 1998 Diddy founded Christian Casey LLC, named after his second son. The company designs, produces and distributes urban fashion clothes and accessories for males and females. Christian Casey operates as Sean John Clothing and owned by Bad Boy Entertainment. The Sean John fashion label has been extremely successful with yearly sales in excess of $100 Million. In 2004, the brand was awarded the ‘Men’s designer of the year award by the Council of Fashion Designers of America. Diddy’s Sean John Enterprise also purchased the Enyce clothing line from Liz Claiborne for $20 million in the latter part of 2008.

 

Fragrances:

diddyIn a joint venture with Estee Lauder, 2005 saw the birth of Sean John Fragrances. Diddy’s flagship fragrance, Unforgivable, reached Number one in department stores in the USA in a very short space of time. Sean John Fragrances have since expanded to incorporate; Unforgivable Woman and I Am King, which are being sold all over the globe. Unforgivable became the first male fragrance to to claim the title of ‘Best Selling Fragrance’ in 2006 according to a leading retail and consumer information provider. Diddy has twice won ‘Fragrance of the Year’ at Annual FiFi Awards hosted by The Fragrance Foundation, once for Unforgivable and once for I am King.

“If you dream and you believe, you can do it” – Diddy

Alcoholic Beverages:

diddy net worthIn an incredible and lucrative move, Diddy entered into a partnership with Diageo to create and manage all marketing processes for Diddy’s brainchild, Ciroc Vodka. The deal dictated that Diddy and Sean Combs Enterprises make all brand related decisions and share future profits and growth with Diageo. This unique collaboration for a USA based spirits company, is set to last several years and will be worth an estimated $100 Million for Diddy.

In the early part of last year, Diddy ignited another partnership with Diageo in order to kick-start a joint venture to purchase DeLeon, a luxury Tequila brand. DeLeon is currently selling for $1000 per in Los Angeles bars. It is currently selling around 10,000 cases per year in only 18 states so Diddy’s famous ability for business growth is destined to take effect for the brand.

“You have to be somewhat crazy, if you want to be successful.” – Diddy

Revolt TV:

diddy revolt tvIn 2013, Diddy was backed by Comcast to launch Revolt TV, a music cable network that is believed to be owned solely by Mr. Combs. In the Spring of last year, Diddy was believed to have bid $200 Million to buy Fuse TV to gain a wider distribution and higher subscriber fees. Although this bid was unsuccessful, it was a clear show of Diddy’s intention to grow the channel and we can expect much more of that in the future.

 

Conclusion:

Diddy is an incredible example of how a persistent, obsession like approach to business growth can create amazing results. It is important to realize that Diddy is one of those ‘self-made’ people that can inspire to believe and take action on our dreams in order to make them a reality.

 

Diddy’s Success:

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5 Tips for Launching a Successful Blog

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Image Credit: Twenty20.com

Blogging has become the most preferred side hustle because of its income potential and the fulfillment it brings. No matter what you want to write about, blogging is the best way to pursue your passion and earn money at the same time.

My blogging journey has been an amazing one although there were challenges along the way. What started as a simple desire to share my work at home experience turned out to be the most fulfilling mission I’ve ever had.

In today’s world where the digital landscape is crowded and oversaturated, you need to have a solid plan before launching your blogging business. Your launch can really bump up your blog exposure, so it’s recommended that you take the time to carefully think through the process and pay attention even to small details.

What is a Launch Plan?

In simple terms, it’s how you are going to let others know that you started a business (or a blog in this instance). A launch plan is a pedestal to show your new business to the world and it details what platforms you will utilize to attract your target audience. Having a clear strategy from the start will go a long way, and it will surely help you achieve your goals.

Here are 5 of the most important things you should do before you launch your blog:

1. Do Your Research

Assuming you’re already 100% sure about your chosen niche, and you’ve had a couple of blog posts up before your launch, the next thing you’d have to do is conduct market research. Find out where your ideal blog readers are hanging out, what blogs they are reading, what questions they are asking, what products they are buying and what social media platforms they are on.

List down the answers to the questions above, and from there, you can start setting aside a budget and creating a timeline for your launch. The research may take you a few days up to a few weeks, depending on how thorough you want it to be.

To be honest, the process of picking your niche, acquiring a domain and a hosting plan and even writing a few posts is much easier than planning your blog launch and going through the market research itself.

“Don’t focus on having a great blog. Focus on producing a blog that’s great for your readers.” – Brian Clark

2. Finalize the Promotion Channels

Writing helpful content is paramount, but knowing where to promote it is also vital. You have to list down the promotion channels you want to utilize and set them up before your launch. Many newbie bloggers often miss this critical step; thus, they fail to build traffic, they get frustrated and they give up too quickly.

In my personal experience, the traffic and the initial readership that my blog had in the first few months after the launch came from word of mouth promotion that I did. Apart from that, I also made sure that I use Facebook, Twitter, Pinterest and Instagram to my blog’s advantage.

3. Be Ready to Invest

Starting a blog might not cost you much. But it requires time, effort and dedication. You have to be disciplined enough to pay attention to details like your website’s theme and overall design. You should be ready to invest in learning about different concepts of your niche and you need to sign up for the must-haves like ESP (email service provider), automation tools, and design software.

Do not play safe. Sometimes you can only find success if you go all out and spend some ‘dough.’ Trust me, I have done it and have never regretted almost anything I bought for my blog. In fact, all my learning resources contributed to the success of my blog.

It is also advisable to have a stable fund when you launch your blog. Sure, you will be able to generate money from the blog but just like any other businesses, a start-up investment is required so you can sustain your blog and post fresh content pieces weekly.

4. Focus on Your Brand

Online businesses thrive on the uniqueness of their brand. Having a good brand strategy and working on developing a voice of your own can give you the best results going forward. Successful online entrepreneurs like Melyssa Griffin, Nathan Chan, Amy Porterfield have a unique brand voice of their own, and they have vast readership.

Work on building your brand from day one, whether it is through your blog’s theme or social media channels. How do you do this? Just ask yourself the question, ‘How do I want want my readers to see me or what do I want them to think about when they read my blog?’.

Having a clear idea of what your blogging business is about can get you loyal followers and more exposure. Building a brand can be a long and tedious process, but if you start it right, it will surely pay off.

“A blog is merely a tool that lets you do anything from change the world to share your shopping list.”

5. Network

This is the big part of your blog launch. Whether you blog about e-commerce, lifestyle design, entrepreneurship or making money online, you need to be able to find like-minded people to connect with and help you spread the word about your blog.

Networking is a pretty big thing in the business world but the best thing about it is, you can find people to connect with just about everywhere. You can connect with them using social media, forums, groups, and during events.

Networking is also a means to find friends who will uplift and strengthen you as you push towards achieving your goals. I have a lot of online friends who ‘get’ what I do as a blogger and they have been very supportive of my business. These friends helped me form a community where we can share insights and help our readers. Start joining the right groups in your niche now so you can learn more about your target readers and develop a relationship with other influencers and bloggers.

Though it sounds straightforward, starting a blog means you are making your first step towards starting an online business. Doing the groundwork is as important as ‘hustle’ or ‘grind’. Although the overall success of your blogging business will still depend on how consistent you are and how determined you are in making it work, these simple tips can ensure that you will achieve the results you want for your blog launch.

Image courtesy of Twenty20.com

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5 Reasons Why Underdog Entrepreneurs Are More Likely to Succeed

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Image Credit: Unsplash

The world is in a place right now where everything is changing faster than ever. Thanks to the digital era, we are enabled to fulfil our dreams easily. Be it the flexible policies or the availability of easy information, it all allows us to work more effectively towards our goals. It’s the same for entrepreneurs alike.

Not everyone is cut out to be an entrepreneur though, that’s mean but true. However, there are many more entrepreneurs today than there was just a decade ago. How is this happening?

People without entrepreneurial backgrounds are trying their luck and succeeding too. It’s a good wave for everyone, the consumer and the seller. The market is working together to reduce the gap between demand and supply. Not only is this keeping entrepreneurs on their toes, but is also encouraging them to think out of the box.

This sudden rise in the number of entrepreneurs could also be attributed to the availability of investors. They most certainly think differently than their predecessors. The desire to bring in the right change in society is the only thing similar between all generations of entrepreneurs.

Who is an underdog entrepreneur?

Underdog, as the term suggests, is someone who is least expected to succeed within a group of talented individuals. It is the same person who has the least power, say or authority in the lot. Underdogs are never usually even considered to be on the winning side. This in return makes it obvious for others to not have any hopes on them or worse, not even consider them. Some could argue that underdogs are usually not visible to others.

“Being underestimated is one of the biggest competitive advantages you can have. Embrace it.”

However, over the years the above definition is seen in a more positive and different light. Underdogs are highly respected and regarded now, because of the uncertainty they carry with them. It reflects on the idea of someone weak or slow, working harder to be in a better position. Underdogs look appealing today because of their efficiency at breaking odds and coming out stronger. Today, underdogs also answer to the injustice or unfairness they are fighting to succeed.

Here are 5 reasons why underdog entrepreneurs are more likely to succeed:

1. They don’t take any aspect of their business for granted

Underdog entrepreneurs are from humbler backgrounds in terms of experience making them sceptical. They take every aspect of their business seriously. Be it something as small as managing their accounts or something as big as meeting an investor, they do it with equal determination. There are times when big businesses face trouble for having taken a small aspect lightly. This is usually never the case with an underdog entrepreneur, who is always on his toes. He is careful and is alert about what’s happening in and outside his business. This keeps him aware and also allows him to plan ahead in time.

2. Their risk tolerance is out of the world

They have faced failures multiple times in the past. They do not have inhibitions and scepticism, unlike most entrepreneurs. Taking calculated risks is a wise choice but can also keep one back in today’s fast marketplace. Underdog entrepreneurs are usually more likely to take risks that others are not willing to take. This certainly puts them in a tricky position but also improves their chances significantly. They understand the risk they are taking and take it with authority. They are the same type of individuals who believe they have nothing to lose in the first place. They risk it with the hope of getting something better. Even if they fail they know how to rise up again. Staying motivated even in the toughest of times is an art they have nailed.

3. They don’t make unnecessary chatter or claims

Underdog Entrepreneurs usually have too much on their plates; given the multiple hats, they wear. They don’t have the time or flexibility to indulge in useless banter. There are two kinds of people; doers and talkers. They are the first kind, who focus on doing things better. Their words speak for them. Having faced rejection and failure, they are usually very cautious before making any claims. They take failure positively but also learn not to talk about outcomes that aren’t out yet. These are the category of people who let their work speak about them. Underdog entrepreneurs are usually never satisfied and try to make up for the lost time and repute.

4. They think out of the box and have unconventional ways

They are the kind of people who experiment and run wild thoughts. Their fearlessness makes them take calculated yet unconventional steps. It could be in their execution or their promotions etc. The world is changing and is craving to see the right change. Unlike earlier times, the ideal consumer today is more willing and open to the right changes.

However, the consumer wants to know the logical reason behind a change. Underdog entrepreneurs are making better decisions every day and coming up with quirky ideas too. This is the time and age for unconventional settings and decisions and underdog entrepreneurs are making the best out of it. Their experience at falling and getting back up each time teaches them how to find better ways to rise up.

“Underdogs adapt, evolve and become winners because of their preparation, heart, execution and the relentless attitude that the game will not end any other way.”

5. They have exceptional people skills

It’s very important for every business to connect with its people, its consumers. The unique bonds that brands are creating today, is what separates them in the crowded marketplace. Coming from humble beginnings, underdog entrepreneurs are humble and open-minded. They talk to people, connect with them, share and take ideas. Underdog entrepreneurs shine at creating relationships that matter to their business.

They understand that there are many others like them in the market and keep their ego in check. They are more respectful of their customers and towards their competitors. This keeps them open to new learning, which should ideally be the motto of every entrepreneur. This is the same ability that makes them better advisors, mentors, leaders and salesperson. They understand human emotions and values better.

When an underdog entrepreneur finds success, he/she makes others believe in the power of hard work and determination. This is the positivity that people look out for in the first place.

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7 Parenting Tips for Encouraging the Young Entrepreneur in Your Child

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The next big idea could be right around the corner. In fact, it could be coming from one of your kids. Children today have an excellent grasp on social media and the world of opportunities the internet provides. Because of these facts, it comes as no surprise that many kids today are starting to pursue their entrepreneurial goals as early as six or seven years old.

One child-entrepreneur survey polled 1,721 students in grades 5 through 12 and found that 77% of students wanted to be their own boss. A whopping 45% said they wanted to start their own business and not far behind were 42% of students who said they wanted to invent something that changes the world.

These big ambitions for such young children need to be cultivated, and as a parent, you can help them make their business goals a reality.

From online learning classes to teaching kids about money, here are 7 parenting tips for empowering kid entrepreneurs:

1. Encourage their curiosity

Kid’s have brilliant minds. It is often said that it is easier for a child under the age of seven years old to learn a second language than it is for adults. Why? Unlike adults, they are still steeped in education on a daily basis. Their brains are ready to create new information more willingly than an adult mind.

The Teachers College Columbia University reports that this has much to do with the prefrontal cortex, which contributes to an inventive and creative outlook on things. This curiosity and ability to learn should be encouraged by parents. Help them take online learning classes or find opportunities to do projects with them that relate to their interests and ideas.

2. Take your children seriously

One of the main ingredients of good parenting is letting your kids know you understand and support them. Children’s minds are always changing and growing. One week they may want to be an astronaut while the following week they want to be a veterinarian. These flip-flopping ideas may make it tempting to smile and nod when your little one expresses their desires, but don’t be so quick to say no.

If your child wants to be a pastry chef and asks you if they can sell cupcakes in the neighborhood, why not say yes? Yes, the mind of a child can change from one minute to the next, but parents help their children grow and explore new ideas when they take their requests seriously.

3. Teach children the value of money

In order to build a thriving business, children need to learn how to manage their money. A child who receives an allowance of $15 will have $60 by the end of the month.

You can help teach your child both responsibility and the value of money by encouraging them to spend money wisely. By using basic math or putting up a pie chart on the refrigerator, you can teach your children the importance of saving money and investing wisely in products to pursue their goals.

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” – Ayn Rand

4. Teach that it’s okay to fail

In the same survey cited at the onset, 91% of entrepreneurial students said that they are not afraid to take risks, even if they fail.

Starting a business is a big job that requires your child’s patience, drive, and responsibility. Putting all this effort into a project only to have it fail can be crushing for a young child.

It is important for you to teach your children that it is okay to fail. Highlight that having fun, learning and gaining beneficial experience should be the primary goal of their entrepreneurial career, and not necessarily fame and success.

5. Help your child get started

A great parenting tip for empowering kid entrepreneurs is to help them get started off on the right track. Help them do research about similar products or ideas. Is their pricing, right? Is there a current need for their idea or business?

If your kid wants to become an entrepreneur, it’s your job as a parent to help them make it a reality. This means helping them learn how to market their service or idea. This may also involve learning how to manufacture a product and taking online learning classes about their interests.

6. Look for opportunities

If your child wants to launch a product or service, they’re going to need opportunities to be in the public eye. This can be done through social media, word of mouth, neighborhood canvassing, and even getting a hold of your city’s news station to have a piece done on the local child entrepreneur.

Taking your children to such things as trade shows can also give them the opportunity to network with like-minded entrepreneurs. There are also various online learning classes that can help parents and children discover how best to market a new product and make business connections.

“In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

7. Make it fun

There are many successful child entrepreneurs with thriving companies today. At 12 years old, popcorn giant Orville Redenbacher, began growing his own popping corn in pursuit of the perfect kernel.

While his passion for popcorn did earn him enough to pay for his college tuition, no doubt, Redenbacher wasn’t thinking that he was going to turn his love of popcorn into a billion-dollar market. He was just having fun.

The same should be true for your little one. Childhood is a time for being carefree, not to be weighed down with worries and anxiety. One of the best parenting tips for encouraging little entrepreneurs is to make having fun the primary goal of their pursuit.

Follow these 7 parenting tips to help empower your child to pursue their entrepreneurial goals. Teach your kids the value of money, remind them that building a business should be fun, and get them involved in online learning classes to make the best of their budding entrepreneur spirit.

Which one of these tips do you feel is the most important to teach the next generation of entrepreneurs? Let us know your thoughts below!

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