how to make money: patience and financial discipline. People who make much money are those who delay their personal gratification for the future. If you have been surfing the internet on how to make money, you would see a lot of post on that. well this article is not just to add up[ to the number, we are going to give you practical approach to making real money.
This post however, does not teach you on hacks that would earn you quick money as most of the post you see suggest. lets look at the various ways of making money.
How To Make Money
Get passive income aside your regular job
Passive income is income earned without actively working for it. example ; interest on your bank account, rental income, dividends, royalties, business income. in your quest to acquire financial freedom, pinpoint your inner most desire and convert it to your life’s purpose.once you get a hold of this, wealth comes as a secondary base. “there are two ways to make a man rich, give him more money or curb his desires”. ou can check out. Best Online Paid Surveys In Ghana . How To Make Money Online In Ghana
Build a surplus income
people struggle financially because they dont know how to work with money. creating wealth is not about how much you earn, it is about how you manage your surplus income or extra cash.surplus is the amount of money you have available for investment over and above your expenses. if the is not enough income, a short fall exist. you can increase your cash flow by eliminating unnecessary spending and by increasing your income. wealth creation means delayed gratification.
FOLLOW YOUR LIFE’S PURPOSE
successful people have chosen to play their biggest game and it all begins with purpose. when you are inspired by some great purpose, some extraordinary projects, all your thoughts break their bond, your mind transcends limitations, your consciousness expands in every direction and you find yourself in a great wonderful world (Pantanjali). Find out what you love to do and then direct all your energy towards it. once you do this, abundance will flow into it and all your life desires are filled with ease and grace. if your mind can see it, your heart can feel it, and you get excited about it, pursue it. it will definitely happen.
Focus until the focus is on you. the human mind is often flooded with lots of thoughts on daily basis. weak and scattered thoughts means weak and scattered forces. Focus means having concentrated thought on a specific goal. a common mistake most people make is to set a lot of big goals at the same time instead of narrowing down the big focus. Goals must be realistic, specific and yet challenging. the more your focus, the higher your awareness and the greater the results.
Top business skills to learn from poker
Poker is incredibly popular across the globe, with (according to World Poker Tour) more than 100 million online poker players. There are many millions more that play in land-based casinos, and the same number again that play it informally with friends and family.
Poker has been popular for centuries, as it is easy to learn, yet difficult to master. There are different variations of the game, and it has expanded to include tournaments, casual games, and high rollers tables, providing something for everyone. 888 Poker provides a vast range of options for players of all abilities and budgets.
Playing poker requires a number of skills, many of which can be beneficial in other areas of life, in particular business and entrepreneurship. Players must be self-aware, mentally strong, and resilient, entrepreneurs must be able to analyze incomplete information, read others, and take on new information quickly.
- Ability to learn quickly
When learning the game, players need to take on a great deal of information very quickly. They need to do some basic research on the rules, the different winning hands, and the probability of getting these hands. They also need to practice, practice, practice before heading out into the real world, and will often practice the game with friends, all striving to improve their own game.
In business, it is important to be able to take on new information and adapt to new situations. As in poker, to be successful in business individuals need to be adaptable and knowledgeable.
- Decision making
As well as being able to take on new (and changing) information, poker players need to be able to make decisions. Be it raising, calling, or folding, knowing what the appropriate action to take and when to take it is key to success at the table. In business, it is not dissimilar: knowing when to move forward, when to challenge, when to invest, and when to quit, are very important skills for any entrepreneur.
- Extrapolating from incomplete data
In poker, players will know what cards they hold and the communal cards but won’t know what their opponents are holding. They will be able to make deductions based on the information in front of them, and the behaviour of their opponents. Players won’t be able to have 100% of the information to be able to make their decisions and have to hope that their powers of deduction will lead to success.
In the world of business, if individuals waited until they had all the information it would be too late to take actions. They will need to get as much information as possible from different sources and make a decision balancing the level or risk. Resume provides a guide on crucial decision making for career development.
- Money management
When playing poker players shouldn’t gamble more than they can afford to lose; they should stick within their limits and play wisely to build up their pot of winnings. In business, it is similar. Entrepreneurs should ensure that their money is managed and invested appropriately. The higher the pay out, the higher the risk, and whilst sometimes in business it pays off to be risky, there needs to be a balance to ensure the business will survive. Fiscal mismanagement is one of the biggest reasons that new businesses fail.
- Mental acuity
When playing poker, players have to not only look at their cards and the communal cards, but identify how their opponents are playing, checking to see if they have any tells. It is vital to analyze the chances of winning, considering a number of different variables. Entrepreneurs have to analyze market conditions, their competitors, and be able to collect and interpret data accordingly.
Alongside mental acuity is mental strength: in poker, players can have periods where they win every hand, or lose every and, and it is important to know when to stop and when to change approach. In business, entrepreneurs need to know how to manage the ups and downs that inevitably come with being in business.
The top poker players are driven by a love of the game, not money. By being passionate about poker they learn the ins and outs of the game, learn about the psychology behind it, learn the tricks of the trade and invest in bettering themselves every step of the way. Money is a secondary consideration; apart from some of the top players in the world, there are easier and more dependable ways to make money.
Entrepreneurs should always be aware of the financial potential of their endeavours, but the success of the business will depend on the passion and dedication of its people. Yopreneur explains how entrepreneurs should be passionate and focus on doing what they love. Entrepreneurs should start out wanting to create something and enjoy the journey.
- Learning to fail
Even the most talented and experience poker players can fail. They can make a silly mistake that costs them the game, be trumped by a better player, or simply run out of luck. All players will lose some of the time; winning more than losing is a definite perk, but by no means guaranteed, especially when a player is starting out.
Estimates indicate that over 85% of start-ups fail, and it is important for entrepreneurs to remain resilient, pick themselves back up, and get back on the horse. They can learn from their mistakes and do better the next time.
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