Immediately Increase Your Cash Flow with a Small or Home Based Business

Starting a small or home based business is a great way to immediately increase your cash flow and begin building wealth.

By starting a small or home based business, you are likely to increase your tax deductions, so you can work with your accountant and adjust your withholdings to free up more cash flow throughout the year to invest or operate your business. This is preferable to letting the government hold your money all year without paying you a dime in interest.

The government encourages business ownership and rewards entrepreneurs with increased tax credits, deductions, and shelters. And not only do you have these lucrative tax benefits through your business, you also have the opportunity to stash away more money for retirement by setting up a SEP IRA, Keogh plan, or 401(k) for your company.

When it comes to financing your business, there are quite a few options available. For smaller companies, you can partner with others, pull in sponsors, and develop trade lines of credit, which are surprisingly easy to get for those with right knowledge and properly structured businesses.

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Ranked as the #1 Business Motivational Speaker by Ranking.com, William R. Patterson is a two-time award-winning lecturer, national best-selling author, and wealth coach who uses his trademark approach, THE BARON SOLUTION™, to coach, train, and motivate business leaders, sales professionals, entrepreneurs, and investors. His breakthrough book, The Baron Son, has been translated around the world and featured in the Forbes Book Club. William is an internationally recognized business authority who has been a featured guest on over 300 television and radio programs. William’s website, BaronSeries.com, is also winner of three 2008 Web Awards including Best Wealth-Building Site. THE BARON SOLUTION integrates over 200 proven business and financial accelerators to help you rapidly achieve your personal and organizational goals.

Increase Your Income with Five Simple BARON Strategies

It only takes a little bit of intelligent thought and action to make a big difference in your bottom line.

Many people including high-wage earners are struggling financially and living paycheck-to-paycheck. Here are five simple BARON strategies that will help you increase your income and savings.

1. Find a coach or mentor and expand your network. One of the quickest ways to increase your income is to change the people with whom you spend the majority of your time. It is often said that if you take the median income of the people with whom you spend the majority of your time, that number will serve as an accurate predictor of your income. Forming mentoring relationships and networking with individuals who have achieved a higher level of financial success will expand your knowledge and expose you to new investment ideas and unprecedented opportunities to build wealth.





2. Get paid what you are worth. If you are an employee that means going after higher paying jobs in your industry. If you are business owner, that means going after larger clients and deals. It is important to make sure your time is directly aligned to where the lion’s share of your income either is or is going to be, and to make sure that you are doing the most important activities every day that will change the condition of your life or business financially.





3. Reduce your Expenses. Cutting your expenses is an easy but significant way to boost your net income. You can increase your income by thousands of dollars by consolidating your long-term debt and reducing your interest rates; doing comparison shopping and buying products in bulk; purchasing consolidated services; and doing a better job of budgeting and planning to reduce late fees, bounced check fees, and penalty fees.

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Ranked as the #1 Business Motivational Speaker by Ranking.com, William R. Patterson is a two-time award-winning lecturer, national best-selling author, and wealth coach who uses his trademark approach, THE BARON SOLUTION™, to coach, train, and motivate business leaders, sales professionals, entrepreneurs, and investors. His breakthrough book, The Baron Son, has been translated around the world and featured in the Forbes Book Club. William is an internationally recognized business authority who has been a featured guest on over 300 television and radio programs. William’s website, BaronSeries.com, is also winner of three 2008 Web Awards including Best Wealth-Building Site. THE BARON SOLUTION integrates over 200 proven business and financial accelerators to help you rapidly achieve your personal and organizational goals.

The Seven Major Reasons People Struggle Financially

Video - 2:51 Minutes

National best-selling author and wealth coach William R. Patterson provides insights on the seven major reasons that people struggle financially, all of which have nothing to do with money, in part six of an in-depth interview for The Urban Wall Street Project with Earl Christian III.

There are seven major reasons that people struggle financially:

1. Not Having Mentor or Coach Who Holds You Accountable
   To reach any significant level of success, every individual and business owner should have a wealth coach or business coach to help them limit risk and rapidly improve their financial situation or build their million-dollar business with integrated turnkey solutions.





2. Self-Doubt
   Financial independence is not a rational decision. If it were a rational decision, more people would take decisive action to do the things that would make them financially free. Financial freedom is about overcoming your emotions — especially fear. Most people do not truly believe they have the power to change the condition of their lives starting from where they are. Despite what one may think, you are never too broke, your credit is never too poor, and it is never too late to begin improving your finances or to build a million-dollar business.A coach can help you think bigger and change your beliefs about what is possible by teaching you the things you don't know that you don't know.





3. Limited Networks
   Those with limited networks are always the last know and the last to be helped. At least 80% of your success will be the result of soft skills—your ability to network, form mentoring relationships, strategic partnerships, and political alliances. Without question, your network is a direct reflection of your net worth; build one and the other will grow. Remember, any situation of lack can be solved through a partnership.





4. Using the Wrong Vehicle for Building Wealth
   Most people struggle financially because they attempt to build wealth with a linear approach—using one investment strategy, one portfolio, and one stream of income (a job). And for most people, a job is a $50,000 solution to a million-dollar problem. If you have a million-dollar problem, you of course have to use a million-dollar solution. To build significant wealth in a way that brings you greater freedom with each dollar made, you have to learn to manage multiple investment strategies, multiples portfolios, and multiple streams of income.
   You also have to leverage the three major wealth building vehicles, the stock market, real estate, and entrepreneurship.

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How Barons Profit in Volatile Markets

To reach any significant level of success, every small business owner should have a business coach to help them avoid many of the hurdles and pitfalls that exist and rapidly build their business with integrated turnkey solutions.

There are some common traits that allow industry and financial Barons to profit in volatile markets.

These traits include:

1. Using their networks and specialized tools to gauge market sentiment before making buy or sell decisions.


2. Not rushing into investments with a scarcity or “need to do a deal or need make a trade” type of mentality. Barons are patient; they know market corrections are inevitable and time and the overzealous nature of unskilled business owners and investors will present them with the buying opportunity of a lifetime.


3. Doing proper valuations of the market and their holdings to know when each is overvalued and poised for a correction.


4. Using multiple strategies and market instruments to hedge and profit from downward moves in the market.


5. Maintaining large cash reserves to handle emergencies and to take advantage of investment opportunities and/or partnering with others who have such reserves.

Down markets present opportunities to make money like no other. Master this skill set and you will build your fortune in a third of the time.

Ranked as the #1 Business Motivational Speaker by Ranking.com, William R. Patterson is a two-time award-winning lecturer, national best-selling author, and wealth coach who uses his trademark approach, THE BARON SOLUTION™, to coach, train, and motivate business leaders, sales professionals, entrepreneurs, and investors. His breakthrough book, The Baron Son, has been translated around the world and featured in the Forbes Book Club. William is an internationally recognized business authority who has been a featured guest on over 300 television and radio programs. William’s website, BaronSeries.com, is also winner of three 2008 Web Awards including Best Wealth-Building Site. THE BARON SOLUTION integrates over 200 proven business and financial accelerators to help you rapidly achieve your personal and organizational goals.