Many people know that a business can be a great way to generate extra income through passive means, but very few take this knowledge and turn it into action explains Paul Haarman. If you have ever thought about starting a business but didn’t know where to start or were afraid of going into debt, then read on for some advice that will help get you started on the right foot.
I want to share with everyone one of my success stories; this is an individual who came to me looking for guidance in both building their own personal wealth AND helping them pay down more than $200,000 worth of consumer debt (credit cards). This story is not uncommon by any means; most people who come to me share a similar story and see debt as an albatross around their necks.
The single most common trait among the millionaires I know is not good looks, high income or education; it’s their attitude toward debt. Millionaires don’t like owing other people money. They take responsibility for their own financial decisions and rarely blame “the system” for selling them down the river (unless it’s the Social Security Administration of course).
So what does this have to do with starting your own business?
Well, you CAN start your business with little to no capital outlay at first and begin chipping away at consumer debt while building up wealth!
You can start small and grow as your need and comfort level allows:
- First, you need to have the mindset that being debt-free is more important than anything else says Paul Haarman. The most successful business owners are those who are willing to do whatever it takes to build their businesses without having large amounts of debt, or any at all if they can help it
- After this initial step, there are several things you must do in order to start your own business, even a side hustle on nights and weekends, while making payments on consumer debt or avoiding new purchases until your goals are met. You MUST set goals with deadlines for three key milestones: buying a house paying off all consumer debt building up an emergency fund
- (Can you see how these goals overlap? Setting one goal helps accomplish others.)
- Next, you need to select a business field in which you have a sincere interest and the time to learn more about it. This is probably the biggest hurdle for most people, but once you get started this will be less of an issue.
- Most successful business owners do their homework before investing money or signing any contracts. Use online resources carefully and don’t rush into anything that doesn’t feel right. You can learn a lot from forums and discussion boards too – just make sure they’re reputable sites!
- Finally, you need to take action! The second step of “Taking Action” is to join a credible network marketing company. These opportunities allow independent reps to run their own businesses with little capital outlay while building up enough residual income to support themselves/their families on a part-time basis.
The key to any business, and especially a network marketing company, is teaching people how to fish rather than just giving away fish (which is what most lead generation companies do) says Paul Haarman. An MLM company gives you the tools and training you need to succeed on your own terms. You can even get new leads through the same system that provides you with all of your support!
Remember: It’s not about having a great product or service; it’s about providing solutions for your customers. Keep this in mind at all times when building your new business and remember that you can always offer more services or products later on if needed.
As I mentioned before, there are plenty of success stories regarding individuals who have built their own businesses while getting out of debt. It’s not easy, but it can be done! The few sacrifices you make now will pay off tremendously in the future when you are completely free from consumer debt and building your own wealth rather than other people!
If you want to start a business but can’t find a way to get the funds, then let me ask you this:
What sacrifices are you willing to make in order to have the life of your dreams? How much debt will you carry from month to month, year after year? What excuses will you use in order to avoid taking action on this one opportunity that could change your life forever?
Those who win in life refuse to participate in games they don’t believe in. They challenge the status quo and do things their own way says Paul Haarman. They take responsibility for their decisions and stop blaming “the system” when it fails them.