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Home » Business And Finance Articles » Just Do It What Most People Should Do To Start A Business

Just Do It: What Most People Should Do To Start A Business

For a long time in my life I never started a business. I always thought about it but never started it.

Then I wasted my time going to school, learning courses I know I will not need. Doing what others wish me to do.

Somehow, I know they're wrong and I am right. Somehow I know that if I don't like a course, I shouldn't learn it. It will be more efficient if all of us learn what we'll be good at.

Somehow, I know that the reasons why I have to do homeworks are not so I become smart, but because others do not want me to move too fast so they ensure that everyone moves at the same speed in governments' regulated education.

Somehow, I know, that I know what's good for me.

Yet, I had not been rich. Because I hadn't taken any action about it. I just complained about it, but still follow the scripts that societies want me to do.

Then finally it happened. One friend I helped taught me a simple business.

It's a stupid business. I buy products from shops at customers price, and then sell it on eBay for a slight profit.

Bad business plan. Bad business. It went belly up within 2 months with thousands of dollars lost. All the little profit don't make up the losses when one thief stole my properties.

But you know what? Though moneywise I lost money, I get something from that business that none of my thinking, complaining, and fidgeting has given me for years. I got something so valuable that it's what got me rich.

That valueable thing is business experience and the only way anyone will ever get it is by doing it.

>From that business experience, I know stuffs that only I know. I learn that there are more money in information than in goods itself, for example.

Then I modify my business and start other businesses again.

A multimillionare that I consider a teacher taught his student: Believe, Courage, Action.

Calculations are good. However, the richest among us are not necessarily the most calculative. Those who will become rich are those with guts to take action and some calculated risk.

When we take action, the first thing we do, we won't get things perfectly right. And that's fine. We got experience. That's what we're getting. After all those experience, we'll then discover ways to find out what works.

There are so many things that theoretically will work and make money in business. You know what?

If everybody knows it will work, either you'll have a lot of competitors, or you'll have envy bigots blocking the method somehow.

The perk of trying it yourself and learning from experience is that you know something only you know will work. That's a huge plus.

There is only one way to know whether things that theoretically work will actually work or not with huge assurance. You try it. If it works, then you make money. If it doesn't work then you'll get experience.

So if you've been thinking of doing a business for too long. Here's an advice for you. Just do it. Just do it.

Now of course life is about balance. Experience can be very expensive. I lost $3500 for a fraud. It cost me countless time and money to get that vermin to jail. So yeah, you should learn from others and be calculative too. However, for most of you that never even tried a business, here's an advice. Just do it.

Start a small business. Start from something you'll know will work. Then build confidence and experience from there. When you get more natural confidence and experience, then start doing it bigger. The best way to get confidence is to be succesful in smaller scales first. So stop thinking and start doing it, even in small steps.

I make a small internet business tutorial anyone can try in http://fasterfinancialfreedom.com/?id=449. That alone is not going to get you rich. That kind of info is unlikely to be free.

However, it costs very little money for domain name and advertising. It's something you can try. It's the sort of thing that my friend has given me, a small business tutorial, that I want to give to you.

Give it a try and see what you'll discover. At the least, you'll know whether business is for you or not.

Money goes to its own level. The only way you'll get richer is if you're smarter and more connected. That requires you to keep trying and learning new things. Keep trying.

Whatever the mind can conceive, the mind can achieve.

Keep trying, keep planning, keep learning, and keep being open minded. And just do it. Eventually, you'll be there where you want yourself to be. And never give up.

And here is another random article you might be interested in...

Want to Loosen Uncle Sam's Grip on Your Wallet?

Talking About Money

With Jim Larranaga

(ARA) - The average person pays more than $6,000 in federal income tax, according to the Congressional Budget Office. If you cringe at sending a big chunk of change like that to Uncle Sam, you may be looking for ways to keep a little more jingle in your pocket. I'll give you some tips, but, like me, you should consult a tax advisor before taking steps that could affect your tax status.

Maximize deductions

Give to charity. Support your favorite cause or clean out the attic and donate items you don't want to charity. Be sure to get a receipt for donations exceeding $250.

Deduct qualified medical expenses. Consider scheduling elective medical and dental procedures if you think your bills will pass the threshold for deducting medical expenses (7.5% of your adjusted gross income). Don't forget, long-term care insurance premiums may qualify for the deduction.

Add up miscellaneous expenses. These and many other costs may be deductible if they exceed 2 percent of your adjusted gross income: union dues, subscriptions to professional journals, tax preparation fees, costs for a uniform you wear at work, expenses incurred looking for a new job and continuing education expenses.

Plan for Your Retirement

In addition to being a great way to save for retirement, employer-sponsored retirement plans, such as 401(k)s, offer savings on your current income taxes. Generally, the money you contribute to your plan is taken out before taxes, so your taxable income, and thus your tax bill, is lower.*

If you're eligible to make deductible contributions to a traditional IRA, the same principle is at work.* But instead of making pre-tax contributions, you make a contribution with money that's already been taxed, then claim a deduction for the amount on your income tax return.

Accept Your Losses

If you have both winners and losers among your investments, you might consider selling some losing investments to offset the capital gains of the winners. Capital losses can be used to offset capital gains, dollar for dollar. In addition, you may use up to $3,000 of losses to reduce your ordinary income. If you have losses exceeding $3,000, you can carry them forward and apply them to next year's taxes.

Be Smart about Higher Education Costs

The Taxpayer Relief Act of 1997 created a number of tax-advantaged ways to pay for college. Many of these tax benefits are subject to income limitations and, in some cases, may not be combined.

Education IRAs, set up for children under age 18, offer potentially tax-free growth.

The HOPE Scholarship Credit or Lifetime Learning Credit may help you lower taxes with a tax credit.

Deducting interest paid on a student loan is another possibility.

Withdrawals from a traditional IRA before you reach age 59 1/2 are allowed without the usual 10 percent penalty if you use the money to pay higher education expenses.

Since tax laws are complex and change frequently, it's important to consult a tax expert to help you plot a strategy for trimming your tax burden.

* Taxes will be due upon withdrawal at ordinary income tax rates. Withdrawals made prior to age 59 1/2 may be subject to an additional 10% penalty.

Jim Larranaga is Executive Vice President of Priority Publications, a Minneapolis-based publisher of financial newsletters.