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How do I acquire the millionaire mindset?

How do I acquire the millionaire mindset?
This post is a curated version of couple of best answers from Quora to the ineviatble question “How do I acquire the millionaire mindset?” Everybody wants easy and quick money now a days but never understand that it is next to impossible and money earned such is not going to make you happy. Even if your fore fathers had left a legacy to enjoy, you always have the responsibility of manipulating and multiplying it. So, what is the ‘X’ factor that makes only few people and their companies serve as index of stock markets? Start with this book. Read it as many times as you need to until you have internalized its lessons. Some of its important lessons include the following: Start thy purse to fattening Control thy expenditures Make thy gold multiply Guard thy treasures from loss Make of thy dwelling a profitable investment Insure a future income Increase thy ability to earn At this point, I have probably mentioned this book in a hundred different answers on Quora. I keep going back to this book because there are few other volumes that contain so much wisdom about wealth in so few pages. There is a reason why the book is still in print now, almost 100 years after it was first published. Its lessons are simple, timeless, and effective – as long as you actually put them into practice. Courtesy: Dan Kanivas, admirer of the millionaire next door? Here are some of the mindsets that set millionaires apart from the rest of us: Time does not equal money Most people trade their time for money. Millionaires realize that building assets that work for them is the best way to make money. Often, millionaires own more than one business. They almost build them as a hobby. Opportunity is everywhere Millionaires see opportunity every where. Every pain and problem is an opportunity to build a product or a service. When someone complains, it’s a potential money maker. Action is the best teacher Many get stuck in “student mode.” They read books, articles, and pay for online courses, but they never actually do anything. Millionaires are the opposite. They’ll learn the basics and then dive in. Most of their lessons are learned through experience. Mentors are a life hack Speaking of learning… millionaires often find mentors. They see the value in learning from others that have experience. This is a different quality of teaching than what is provided through a book or a webinar. This kind of learning is personalized, tailored specifically to them by an industry expert. Profit > Revenue Millionaires could often care less about revenue. They care far more about profit. Think about it: 10% profit on $100,000 is only $10,000. 50% profit on $20,000 is also $10,000. Which business would you rather own? (Yes, revenue does matter. A business with a 50% profit margin that only makes $10,000 a month is not a money maker) Money is a tool, not a goal Millionaires do not daydream about diving into a pool of money. It can buy fancy airplanes and cars, but for the most part, it is a tool. It is a tool to build things, repair things, and get things done. Determination Millionaires work tirelessly towards a goal until it is completed. They understand the “art of the finish.” Acquiring these mindsets is not entirely straightforward. There is no manual for how to do it. The best hack I’ve found is immersion. By immersion into the millionaire mindset, I mean: Reading books written by millionaires Reading biographies written about millionaires Watching interviews with millionaires Reading psychological studies about millionaires Finding a wealthy mentor Doing what...
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Top Ten Tips for Affiliates

Top Ten Tips for Affiliates
Affiliate Marketing- An Introduction to those who are new to the line! Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. The industry has four core players: the merchant (also known as ‘retailer’ or ‘brand’), the network (that contains offers for the affiliate to choose from and also takes care of the payments), the publisher (also known as ‘the affiliate’), and the customer. Maven – Clip, Share, Earn. The market has grown in complexity, resulting in the emergence of a secondary tier of players, including affiliate management agencies, super-affiliates and specialized third party vendors. Affiliate marketing overlaps with other Internet marketing methods to some degree, because affiliates often use regular advertising methods. Those methods include organic search engine optimization (SEO), paid search engine marketing (PPC – Pay Per Click), e-mail marketing, content marketing and in some sense display advertising. On the other hand, affiliates sometimes use less orthodox techniques, such as publishing reviews of products or services offered by a partner. Affiliate marketing is commonly confused with referral marketing, as both forms of marketing use third parties to drive sales to the retailer. However, both are distinct forms of marketing and the main difference between them is that affiliate marketing relies purely on financial motivations to drive sales while referral marketing relies on trust and personal relationships to drive sales. Affiliate marketing is frequently overlooked by advertisers. While search engines, e-mail, and website syndication capture much of the attention of online retailers, affiliate marketing carries a much lower profile. Still, affiliates continue to play a significant role in e-retailers’ marketing strategies. Tip Number One: Choose an affiliate program that best suits your website or blog content. Tip Number Two: Don’t spam social media networking sites with your affiliate links. Tip Number Three: Choose wisely before joining an affiliate program because you would end up wasting your time and energy working for nothing. Tip Number Four: You need to pull enormous crowd to your blog for which your site has to be “Content-Rich“. Tip Number Five: Use shortened links to make your affiliate links not-so-obvious, ELSE you might end up losing followers and fans. Tip Number Six: Promote products with maximum revenue generation in the form of commissions. Tip Number Seven: Facebook though a best platform to promote, as it imbibes html codes and iframe syntax, in my opinion, twitter brings you more web traffic and in turn affiliate clicks. Tip Number Eight: You have to understand that it is not wise to fill the web page with too much of affiliate clutter, as it might work the otherway round. Yes, it will be a traffic driver out of your website or a blog. Tip Number Nine: The best way is to experiment with affiliate mix and match combination and Google Ad sense is by far the best as it sends suitable ads that matches your content. Tip Number Ten: Patience is the key to success. If somebody wants more idea on affiliate marketing, kindly contact me at managementguru.net@gmail.com     This month the discussion is all about PASSIVE INCOME through Affiliate Marketing, Info Products, Online Training, Ebooks, CD’s and DVD’s. 5 WAYS TO GET PAID MULTIPLE TIMES FOR THE SAME WORK Here are five ways you can move from producing active income to producing passive income: Could you turn your expertise into a product? Yes, you are an expert. There are things you know or know how to do that you take for granted. You assume every one knows what you know. They don’t. Other people would happily pay you for your knowledge. Could you turn a series of blog posts or podcasts into an e-book or book? People will pay for the convenience of having your content all in one...
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Facts You Should Know about Income Tax and PAN Card

Facts You Should Know about Income Tax and PAN Card
Income Tax and PAN Card Info What is meant by Income Tax? A percentage of income earned by an individual or a company (complying to Indian laws) is paid in the form of tax to the government. This is called Income Tax. This comes under Income Tax Act constituted by Parliament of India. Department of income tax operates under Department of Revenue, Ministry of Finance, Government of India. This is responsible for checking and collecting tax. Where should I pay Income Tax? Income tax should be paid to the I.T deparment. This is called income tax filing which is done at the end of July every year. What is the period for which a person’s income is taken into account for purpose of Income Tax? The income earned from April 1st to March 31st is considered for calculating income tax. This period is called a financial year. For example April 1, 2015 to March 31, 2016 is a financial year. This is also called previous year. What is an assessment year? The 12 month period that comes after the previous year is called an assessment year. This is the period to file income tax return for the previous year. For example, for the financial year 2015-16, the assessment year is 2016-17. During this period, a person files his return for the income earned in the previous year. How to file income-tax returns online What is PAN Number or Permanent Acount Number? PAN is a ten digit number issued by the Income Tax deparment. It also serves as a valid identity proof for an Indian citizen. PAN number is demanded at many places now-a-days. When you file income tax returns When you open a bank account or Demat account It is useful in applying telephone connection and credit card When you want to register for service tax and sales tax When you buy or sell a vehicle When you deposit or withdraw money to the tune of Rs.50,000 in the bank or post office, PAN is a must If you want to invest in mutual funds If you are buying a property worth more than 5 Lakhs When you exchange large volume of foreign currency (over and above Rs.25,000), you need to submit your PAN CARD. Even when you buy GOLD , giving your PAN number has become mandatory after the DEMONETIZATION EFFORTS taken by the government recently on November 8, 2016. PAN card Dont’s… Same person having more than one PAN card is an offence. You have to submit any one card to the income tax department and update your info. You can be charged a fine of upto Rs.10,000 if you are found to have more than one PAN card. If somebody puts the PAN card to mis-use he might be fined and subject to imprisonment too. You can view your PAN card details in their website. If you apply for PAN card through private agents, kindly check whether your details are updated in the government website. Issue of PAN card PAN card issuing has been made very simple. You will be asked to fill up  FORM 49-A and attach your address proof (Aadhar card or Ration card). The form can be downloaded from the following addresses online: www.tin-nsdl.com http://www.incometaxindia.gov.in/Pages/form-pan.aspx Also you get these forms issued by the IT PAN and TIN service centres. Having a PAN card doesn’t mean that you have to pay Income Tax. It is to facilitate people to pay Income Tax when their income levels warrants for paying tax. A Complete Tutorial on Financial Markets and...
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5 Biggest Benefits of Blogging

5 Biggest Benefits of Blogging
5 Biggest Benefits of Blogging  1. You tend to become a better writer and thinker #quote #blogging #blog #blogquote #bloggingquotes #parentingblog #parentingblogger #pregnancyblogger #pbloggers #pbloggersuk A photo posted by Beth, Welsh Blogging Mama Of 3 (@lifeasmum_blog) on Feb 23, 2016 at 2:42pm PST Once you start blogging, you’ll find yourself becoming a better writer and thinker. Mastering content takes creative imagination…. And in the due course of creating great pieces of content for your blog, your research skills also improve. How to Blog Like a Professional? 2. Establish yourself as an expert  Blogs are amazing tools to help people establish themselves as experts in a field or niche. We all have some kind of interest and expertise to share with others. If you’re able to produce great content on your blog and/or have a unique point of view on the topic, then be assured that your future audience will recognize it and reward you for it. 3. Increase your self-confidence  The more involved you become with blogging, the more your creative juices will flow. That’s one reason why blogging is so popular. As you gain knowledge about your topic, the confidence you’ll build in your followers and most importantly, in yourself, will soar. #ABAUK17 #allergyawards #blogging #bloggers #blog #allergyblogawardsuk #bloggingquotes #quotes #inspired #allergyblogger #allergy #eczema #hayfever #asthma #foodnutrition #podcast @ukbloggers1 A photo posted by Allergy Blog Awards UK (@allergy_blog_awards) on Jun 30, 2016 at 5:54am PDT 4. Make friends and have fun With practice and a little effort, you can easily build your base of blog fans and followers. As you become known as an expert in your niche, you can inspire, encourage and help your followers make a difference in their own lives. Along your blogging journey, you will make new friends and connections throughout the world. 5. Make money from your blog  Blogging can also have financial benefits. You can place ads and receive affiliate commissions by promoting products of established online retailers. And you can sell your own digital products and...
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20 Main Reasons for Startup Failure

20 Main Reasons for Startup Failure
20 Main Reasons for Startup Failure Entrepreneurs start a business with the single goal of achieving success. But we also see them fail miserably. 80% of startup companies witness closure since three years of commencement says a statistics. So, what should entrepreneurs do to be in that 20% population range of successful people? One good way to start is to learn from the mistakes committed by other startup companies. Research Giant CB insights has analyzed 101 failed startup companies and found out 20 important reasons categorically. CB insights is a company that focuses on business, investment and investment strategies. Also they supply valid information on startups and their founders, venture capital and Angel investment. These are the 20 main reasons for startup failures: No Market Need – 42% Ran Out Of Cash – 29% Not the Right Team – 23% Get Out-competed – 19% Pricing/Cost Issues – 18% Poor Product – 17% Need/Lack Business Model – 17% Poor Marketing – 14% Ignore Customers – 14% Product Mis-Timed – 13% Loose Focus – 13% Disharmony on Team/Investors – 13% Pivot Gone Bad – 10% Lack Passion – 9% Bad Location – 9% Not Financing/Investor Interest – 8% Legal Challenges – 8% Don’t Use Network/Advisors – 8% Burn Out – 8% Failure to Pivot – 7% SIDBI, a government based financial organization caters to the financial requirements of small and medium enterprises. It plays a crucial role in the growth of SME’s. Startup India and Standup India are the two movements initiated by the central government to enhance the spirit of entrepreneurs. Now, SIDBI has also started SIDBI Startup Mitra to associate startup companies with incubators and investors. It is quite difficult for the startup companies to get guidance and funding. These two factors are very vital for the growth of a startup firm.  Various investment agencies, angel investors and incubators have associated themselves with Startup Mitra which in turn facilitate the tie-up. SIDBI startup Mitra also paves way for startup firms to reap the benefits of government plans. The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents, partnerships and news media. India’s top 10 funded startups of 2016 Ibibo Group : $ 250M Investors : Naspers Industry :  Online Travel Company Snapdeal : $ 200M Investors : Ontario Teachers Pension Plan, Iron Pillar, Brother Fortune Apparel Industry :  online marketplace BigBasket : $ 150M Investors : Abraaj Group, Sands Capital Management, IFC, Helion VC, BVP, Ascent Capital Industry : Online Grocery Shopping and Online Supermarket CarTrade : $ 145M Investors : Temasek, Warburg Pincus, Marche Capital Industry :  online auto classifieds platform Byju’s Classes : $ 75M Investors : Sequoia, Sofina Industry Byju’s mobile app has video lessons for IAS, CAT, GMAT, GRE, IIT-JEE & Class 6-12 and comprehensive study material Lenskart : $ 60M Investors : IFC, Ratan Tata, Kris Gopalakrisnan, IDG, Adveq Management, TPG Growth. Industry : Shop online for Sunglasses, Eyeglasses and Contact Lenses for men & women Mobikwik : $ 50M Investors :  GMO Payment Gateway, MediaTek, Sequoi, Tree Line Asia Industry : Online Recharge, Mobile Recharge & Bill Payments Lendingkart : $ 32M Investors :  Bertelsmann India, Saama Capital, India Quotient, Darrin Capital, Mayfield India Industry : SME-lending firm, Short-term loans for Small Businesses Nestaway : $ 30M Investors :  Tiger Global, IDG Ventures Industry : Marketplace for shared home, apartments, flats  rentals Droom : $ 29.8M Investors :  Lightbox, Beenext, Beenos, Digital Garage (Japan) Industry :  online marketplace to buy & sell used cars, bikes, scooters, bicycles, aero planes.  ...
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