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Meet The Man Behind The Cover Of The October 2020 Issue Of Global Millionaire: Michael Smith

A veteran entrepreneur, Michael Smith is the Toronto-based founder and Chief Executive Officer of MDS Media Inc., a disruptive integrated marketing firm. He has built a career solidifying his status as a Market Leader in Integrated Marketing – helping companies execute industry-leading content marketing strategies and achieve profitability at scale for more than two decades. He’s a savvy visionary who does so much more than lead a business – “he elevates the entire digital conversation”.

Throughout his career, Michael has earned many of the media industry’s top honours. In 2019, he received the GlobalTrend Video Awards’ Ascent Award as well as three Triumph Awards; W3 Awards for his work in Branded Entertainment, Health & Wellness, and Not-For-Profit Videos; a Davey Award for Best Social Campaign and two Summit Creative Awards. Michael recently received the highest honours at AMCP’s 2020 AVA Digital Awards in the Corporate Image and Social Campaign categories. Michael’s branding work is recognized alongside the work of globally renowned brands like Apple, Netflix, Disney, Google, and Pepsi. In 2020, Michael was recognized by MADCon as a Top 100 Global Leader in Marketing and Advertising, for setting standards for industry impact, innovation, and future-readiness.

Additionally, Michael is a frequently published Forbes contributor and Forbes Agency Council Member, where he leverages his experience and subject matter expertise to lead a global discussion about branding trends and best practices. He appears on several expert panels each year to share his insights on disruptive strategy, marketing, media, and agency-specific concerns.

Global Millionaire recently caught up with Michael to discuss his journey to entrepreneurship and here’s what went down:

What are you currently doing to maintain/grow your business?

Business is about conversations – with your network, with your staff, with your audience, with the people you want to help. Growth will always be about maintaining and nurturing those conversations. So, when I think about maintaining and growing my business, it’s all about connection.

On one hand, it’s about the value I can provide to all of these people. At MDS Media, we are constantly innovating our marketing models as a way of communicating and providing value to our audience and internal networks. But on the other, it’s about staying visible, letting people know that you’re available to help when they need you, and finding ways to communicate that aren’t necessarily grounded in business. These are uncertain times, and whether it’s a piece of content, an email, or a video chat, I make it a point to check in and acknowledge what’s going on.

There’s tremendous value in cultivating relationships, as you never know what those relationships will blossom into at a later date.

What social media platforms do you usually use to increase your brand’s awareness?

MDS Media primarily operates in the B2B space, and we have found LinkedIn and Twitter to be the most relevant platforms for what we want to achieve. Our clients spend the bulk of their time on these platforms, and if we want to be an active part of trending discussions, we have to be there. Additionally, both LinkedIn and Twitter are really tailored to thought leadership. There are several passionate, niche communities on both platforms, and making meaningful contributions to them pays dividends, not just in actual business revenue, but in brand awareness, authority within our industry, and the expansion of our network.

What is your experience with paid advertising, like PPC or sponsored content campaigns? Does it work?

Paid Media and PPC campaigns work brilliantly if done the right way. I think where a lot of professionals run into trouble is expecting magic by simply running a campaign. A lot of the tools that are available now present themselves as turnkey easy, and it is quite simple to set basic parameters and get an ad going. But just like traditional ads, there needs to be a game plan, clear KPIs, and a goal. There are certain strategies and best practices that deliver results, and if you don’t invest the time in researching them, you can end up wasting a lot of money. So, for those business owners who feel like PPC and sponsored content campaigns are ineffective – this isn’t true. However, they do require expertise.

What is your main tactic when it comes to making more people aware of your brand and engaging your customers? How did your business stand out?

My strength has always been in content. Everyone who knows any of my brands is well aware that we go the extra mile with content to be seen as an authority in the space. The entire Neon Cake aesthetic and value proposition is what drove an audience to a sold-out launch. We pride ourselves on content that separates us from the rest.

We take the time to understand our audience and the greater content landscape. Then we craft messages that not only stand out in every newsfeed but also stand out to the right people. My team and I really understand the power that great content wields, and we know that publishing a few random blog posts isn’t enough to garner attention. We build out comprehensive strategies, we run tests, we dive into analytics, and, ultimately, we take it seriously.

What form of marketing has worked well for your business throughout the years?

We have our own system we have developed over the years – it is a hybrid of content marketing combined with PR. Throughout our time as marketers, we found that agency and PR models were flawed. The way audiences discover content has changed considerably in recent years and continues to evolve at a rapid clip. The traditional models just couldn’t keep up with the speed of change, and that led us to create our own system. We have tested it with MDS Media, Neon Cake, and a number of Technology Experts, and the results have been incredible. We have had a wild amount of success with it.

What is the toughest decision you had to make in the last few months?

In the last few months, I’ve had to let go of things that don’t serve me. If this year has taught me anything, it’s that you can’t take anything for granted, especially when it comes to the business climate. Time is limited, circumstances change, and it just isn’t useful to waste energy and resources on relationships or initiatives that drain me or my business. That realization was tough because I’ve had to let go of some projects that I was excited about. But I had to be realistic and cut my losses. I know that down the line this kind of decision-making will only make me, and my business, stronger.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

If I could offer any advice, it’s to take your time and enjoy the process of building your business. A lot of entrepreneurs, especially new ones, are eager for growth. I think this leads them to spend too much money in general or waste it on things that they don’t need – to really focus on honing your product or service first, and once you have money coming in, be purposeful about where you spend it. Do you need a 20-person team, or can you go leaner? Does it make sense to expand into 5 new product categories, or can you refine your flagship product? Don’t rush toward success because it can lead you to make a lot of money mistakes that take years to recover from.

What new business would you love to start?

I would love to start an educational platform for entrepreneurs. I know that there are already nano degree programs and lots of individual classes hosted by successful businesspeople. But I’d love to create something comprehensive, that covers all the topics that entrepreneurs will encounter in their businesses and that’s presented from the point of view of someone who’s been there.

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

I think this aligns with my answer about money mistakes. I’d really take my time, appreciate the journey, and pursue growth more naturally. I’d scrutinize every cost and expenditure, and I’d find comfort in the slow, steady race instead of focusing on the sprint.

What is the best advice you have ever been given?

The best advice I’ve received was to pursue a purpose other than money. Sure, there are positive things that come from making a significant amount of money – you can buy nice things, and you’re recognized in your industry as a success. But if that success isn’t connected to something more meaningful, it gets tough to stay committed to your business when the times get tough.

What advice would you give to a newbie Entrepreneur setting up their first business?

Learn how to position yourself – the importance of positioning yourself to your market is the single most important thing in getting started. It needs to be crystal clear not just to you but also to the customer why you’re different. You need to understand your value, your differentiators, and the best way to communicate those aspects of your business to your target audience.

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How You Can Ensure Your Investment Property Stays Tenanted

Growing wealth is the ultimate long-term goal of most property investors. But in the short-term, it’s often the property’s ability to deliver a consistent, reliable income – in the form of rent – that matters far more to your day-to-day finances.

So how do you make sure your investment property remains tenanted and keeps producing income, especially at times when vacancy rates are high, properties are plentiful and renters are spoiled for choice? Let’s explore.

Why a reliable income matters so much for investment properties

Before we share specific strategies for making sure your property continues to produce income, it’s probably worth reflecting on why it is such a vital part of property investing.

The simple fact is that most early-stage property investors rely on leverage. In other words, they need to borrow money to fund their purchase – usually in the form of a mortgage or home loan. And so every week, fortnight or month, that home loan needs to be paid.

One of the great advantages of property investing is that a lot – and sometimes all – of the cost of this mortgage can be funded by the rent you receive. But if rent isn’t coming in, there can be a financial hole you need to fill.

So if you want to avoid that from happening to you, here are our 6 tips:

1. Buy a new property

In a market where renters have a lot of real estate stock to choose from, it’s often newer properties that hold the competitive advantage. That’s because they usually come with many of the features tenants’ prizes, such as open plan living, modern appliances, and tasteful fixtures and fittings. They’re also often positioned close to transport and large-scale amenities and tend to be more suited to a contemporary lifestyle, with landscaped courtyards or roof gardens, security, parking, lifts, and valued on-site amenity that may extend to gyms, swimming pools, childcare, and concierge services, plus many other features you won’t usually find in older style properties.

For this reason, new properties are also often easier to rent out, helping minimise the length of any vacancies, so that your income continues to flow.

2. Keep your property well-presented and up-to-date

Many buyers can overlook cosmetic problems in a property, confident in the knowledge they can change things they don’t like. A kitchen or bathroom can be renovated, the walls can be painted in a different colour and new carpet can be laid. Renters don’t have this luxury – they’re usually stuck with the property in its current form.

This means renters tend to approach a property search in a different way to buyers: they’re paying their money for the here and now, not the long-term. So if your property needs work or is simply out-of-date, you’ll find it harder to rent out.

Plus the old adage is true – ‘prevention is better than a cure’ – investing in preventive, regular maintenance of your property will help prevent serious problems before they occur. Maintenance is less costly than repairs.

3. Sign a longer lease

A longer lease – ie one for more than 12 months – can help reduce the amount of time a property is vacant and help guarantee income because the tenant can’t usually break it without having to pay a penalty.

Long leases can be a good strategy during a flat market when market vacancy periods for an area are high, or if you value the security of a longer-term, quality tenant. But in a strong market, long leases may leave you with less room to move, particularly in relation to rental growth.

You should always weigh up the pros and cons and assess the current market before taking this approach. Talk to your Property Manager about the best strategy for your property.

4. Use a proactive property manager

Good property managers do far more than simply collect the rent on your behalf. They act as a Property Management adviser, letting you know how much rent you should charge and when (and when not) to increase it. They’ll also help make sure your property is marketed correctly so that you attract the right tenants and host regular inspection to fill any vacancy as quickly as they can.

Then after securing tenants, a property manager can also manage the relationship once they’re in, answering their questions and requests and doing their best to ensure they’re happy and that you retain them for the long term.

5. Consider furnishing your apartment

The reality of today’s property market is that many good tenants come from interstate or overseas and one way to make sure your property stands out to these renters could be to furnish it. After all, furnished properties offer tenants the chance to move straight in, without having to worry about the expense of buying so many household goods. On top of this, they can also offer command a higher rental rate from tenants.

Just one word of warning though – because furnished apartments tend to appeal to renters from elsewhere, they can also experience higher turnover when a tenant returns home or moves on. On the other hand, they’re frequently easier to rent out when vacant.

6. Get a rental guarantee

One way to make completely sure your investment property continues to produce income is to purchase one with guaranteed rent. For instance, the PIA Fixed Weekly Rental Guarantee ensures you receive a set income for three years, regardless of whether your property is rented or not. This, in turn, means you have predictable cash flow for a set period and can plan your finances accordingly.

PIA’s Fixed Weekly Rental Guarantee comes standard with any off-the-plan purchase you make through PIA. In exchange, you’ll get peace of mind that the money will continue to come in and the bills can get paid.

Information from this article has been sourced from the Property Investors Alliance

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5 Tips For Recognising A Golden Business Opportunity

When you consider the statistics, including that only 2/3rds of business startups will survive 2 years in business, it makes the idea of starting your own business a little scarier. 30% of businesses will continually lose money, and that’s assuming that they have a stellar business idea, to begin with. However, your chances of success will be significantly improved if you have a golden business idea. Here are 5 tips that can help you see if you have a golden business idea in your hands.

1. Your idea can solve a problem

It doesn’t matter if your idea isn’t a new one; what matters is if it’s an innovative one. Every industry has their own flaws, but if you can solve a major problem that a particular niche has you will be more likely to succeed. Maybe you have figured out a way to be more efficient? Or maybe you found a way to offer those services for cheaper? By finding a solution to some weakness the industry has, you may have a great business idea in your hand.

2. You have an idea that people are willing to pay for

Ideas are one thing, but ideas that people are willing to pay you money for is another. If you have an innovative idea that can propel you to be the first business in that niche in the area, you need to be sure that you are starting a business people are willing to pay for. Any idea can sound great, but if you can’t convince a customer to buy it, then the idea isn’t obviously a good one.

3. There’s a niche market for your idea

If there isn’t a niche market that will be interested in your idea, you won’t even be able to get started on launching your business. If there is a market for your idea, then you will be in good shape as you launch your business, especially if you can solve a specific problem that niche is facing. To determine if there is a market for your idea, you need to do some market research that looks at the industry trends to find out if people are interested in your idea.

4. You’re passionate about your idea

Starting a business is time-consuming and stressful. There are a lot of things that you may need to overcome in the business to keep it going. If you don’t have any passion for your business idea, then you won’t be successful it’s plain and simple. Your passion will make sure that you dedicate the time that your business requires to succeed. This passion is what will help you keep moving forward even as obstacles stand in your way. You shouldn’t just pick something just because it will be profitable, otherwise, you won’t have any reason to stick with the idea when you face obstacles.

5. Staying realistic

Being an entrepreneur is about thinking big and following your dreams. However, you also need to be realistic. You need to stay grounded so that you can see any flaws in your plan. Maybe it isn’t as marketable as you think it would be. Staying realistic will keep you open to advice that will help you succeed or know if your idea isn’t really as great as you think it is.

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5 Secrets Of Building A Successful Brand

Today, there are millions of brands out there scampering for a piece of the customer’s mind. A branding exercise can be called a success if it can invoke a certain emotional response when mentioned in a room full of people. But it is also so easy to get lost in the ocean when building a brand. So how do your consumers identify you in comparison to your competitors?

That’s your brand. Rolex and Daniel Wellington, both sell watches, but what sets them apart is the way they choose to communicate their attributes and merits to their respective segments.

And of course, a ‘product’ is not just defined by its attributes but also on how consumers perceive it. How a healthy snack is packaged can set it apart from a fried wafer. The colours on the design and materials used on the packaging can be just as relevant to building perception as the product itself.

Getting started

Imagine you’re building a Bed and Breakfast business. Setting up a brand would require conjuring up images of convenience on the premise as well as on the website, friendly service, and a range of breakfast options, which comes with any BnB service and sharing the vision with your target customers every time they look up a similar service.

When coming up with a branding exercise it would be pertinent to consider the pointers listed below:

Let you brand colour talk

There is no stronger communication method than the right colour for your brand when it comes to driving recall. According to a report by the Seoul International Color Expo, 92.6% of consumers responded saying that the visual aspect is what makes them think of a particular brand.

Too much red on the cover and consumers would know that the product deals in and with passion. White could signify peace and purity like the Unilever soap brand ‘Dove’ whereas green would mean eco-friendly and organic nature of the brands like ‘Whole Foods’.

Digital presence

In the era we currently live in, consumers always want an open channel to engage with the brand. Make sure your digital presence is consistent with your brand image. The colours and the overall look and feel of the website should convey the same message as the brand. The same goes for social media. The offers, campaigns, or any other engagement should be planned to keep the brands’ core theme in mind.

Build a strong brand personality

A brand is more than just a product. It is a state of mind and it should be visible in its personality. When husband and wife duo, Jin Suk and Do Won Chang started Forever21, they built a youthful and vibrant brand for the young who aspired to look as fashionable as a luxury brand like Zara at a fraction of their cost.

Superiority and Longevity

The true purpose of branding is to become at the top of the mind recall for your customer. This can be achieved when your product or service is seen as superior to its competitors. Superior does not mean the best but consumers need to ‘perceive’ them as such.

Also, if consumers are convinced that you are going to be there for a long time, they start looking at you as a brand.

This has nothing to do with the quality or customer service but the emotional response that you can invoke within people’s minds.

Find your Influencer

In this exponentially growing digital world, Influencers are a recent breed that has amassed a following of internet users. People listen to what they have to say and believe in them. An influencer can reliably take your message to your target audience and create a perception in your favor. The best part is that the cost and time required is relatively lower than traditional marketing techniques.

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Five Inspirational Movies Every Entrepreneur Should Watch And Why

Let’s face it; who doesn’t love watching inspirational stories right? And what better story is there than a story about someone facing the struggles of trying to succeed in business and in life? There are actually several significant lessons entrepreneurs can learn from Hollywood’s version of entrepreneurship as displayed in these movies and below are five movies every entrepreneur should definitely watch because all of them have important lessons especially for budding entrepreneurs:

The Pursuit of Happyness

Besides being an iconic and inspirational real-life tale that will have an effect on most people, it is especially relevant for those in pursuit of their own dreams.

It’s about investing in your life and never giving up for the want of a better life.

Some of the real-life lessons you can gain from this movie include:

– Hitting rock bottom; things may become worse before they get better; the road to success and the road to failure are almost exactly the same.
– Don’t be afraid to aim high even if the odds are stacked against you.
– Work for it as if your life depended on it. Success comes with working incredibly hard.
– Increase your chances of success by not wasting time and using your resources wisely.
– Get back up whenever you get knocked down.
– Don’t let people’s opinions stop you, even if you are constantly put down by others.
– Show no weakness in business.

These further 4 movies will inspire and teach other valuable lessons in life and business. Whatever stage you are at – there’s a lot you can learn from these entrepreneurial-minded show-stoppers.

The Godfather (Trilogy):

Possibly the ultimate feature film for entrepreneurs to watch. Not just thrilling and thought-provoking but it also prepares you for the business world. It highlights why relationships and networks matter as well as alliances, why helping people leads to good business and why understanding the competition and competitive up with effective strategies is the key to success.

Erin Brockovich

Based on a true story that beautifully illustrates why it’s not about how much you have at the start, you can eventually win in the end just by sheer guts, grit, and determination. The movie also touches on social responsibility and doing good when the odds are stacked against you, sustainable business models, and female empowerment and gender biases in the business world.

Catch Me If You Can

A classic film, it’s based on real events that personify a person’s entrepreneurial journey. This movie touches on important skills like creative problem solving, business vision, sales techniques, how something good can come out of something bad, the skill and mastery of good old-fashioned hustle, and how charisma can actually help you succeed in life. The lead character may not be an exemplary example of how to go about being the model entrepreneur but it certainly makes for resourceful watching!

Jerry Maguire

Jerry Maguire is a classic movie that everyone loves and some of the most important take-aways from this movie are:

– When you are following your dream, everything else will fall into place,
– Take care of your clients and the money will take care of itself and not the other way around.
– You can succeed again after losing everything. And the journey will be worth it.
– Values and virtues are important building blocks of business.
– Personal relationships are vital.

To conclude, whether you’re an established entrepreneur or an emerging one and you’re looking for something to lift your spirits up and give you more drive than watch these films with a vengeance and take notes.

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3 Ways To Keep Your Business Alive And Thriving Despite The Rising Competitions

Change is permanent in the industry and so are competitors. They are both associated with challenges, risks, and sometimes, failure. But fear not, if you can actually treat them as an opportunity to make your business grow and stand out. Surviving these dominating factors of the market will give you strength and flexibility whenever the worst things may happen. This will also help you get prepared if you are planning for a bigger business venture in the near future.

Through your constant engagement with your team, partners, and customers, you can consistently grow your business with focus. Competitors can be a distraction if you keep on focusing on what they can do – Why not focus on the bigger things you can do instead?

Even larger corporations have shortcomings and most commonly, some fail to provide the basic necessity of the customers. You can fulfill these shortcomings by starting on the very small thing that may lead you to the heart of your customers and that is customer service.

Green innovation

A continuous and green innovation can also be one of the keys which may help you throughout the business operation. Green innovation promotes environmentally friendly manufacturing process to prevent the harmful effects of pollution. This is also a cost-effective way to create your products and save energy to cut some manufacturing costs. Doing this strategy makes you a true leader and not just a business owner.

Build a brand of your own

You do not have to imitate what others produce. Use your product not just to gain profit but to influence your customer’s lives as well. Your influence will instantly connect you to them. If you are to use an advertisement for example, make sure the characters on the screen are not just compelling and attractive, but they should also emphasize a meaningful message. In this way, people will be aware of your own brand identity.

Collaborate with your team

Collaboration with your team will also ensure a good working environment. Accept feedback and learn to listen to your team’s suggestions. You may have talented employees who may have better ideas which can be helpful for your business. Collaborating with your team will lead to smooth-sailing business transactions and loyalty.

Build customer retention

Acquiring new customers is as important as retaining the old ones. You have already built the trust of your old customers so make sure to maintain this relationship. Remember, the word of mouth is also powerful. Therefore, ensure to keep your loyal customers because they can also contribute to additional sales revenue.

They can refer your company to other people who are also looking the same service you offer. It’s pretty much hitting two birds with one stone. You can maintain a long-term relationship with your customers while effortlessly adding new potential buyers.

Doing all these essential things will definitely keep your customers returning to you. You have also shown that being an entrepreneur is not just aboug making money for a living. You will serve as a leader because of your strong emotional engagement with the people around you while you maintain a safe and healthy environment.

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Meet The Man Behind The Cover Of The September 2020 Issue Of Global Millionaire: The Amazing Rafah Hanna

A veteran entrepreneur, Rafah Hanna specializes in financial technology, property, and security. He has built a career creating locally and globally diverse group of businesses that creates solutions focusing on three core values: sustainability, quality, and innovation. Having built, run, and managed financial technology and information businesses with the likes of the London Stock Exchange Group, the New York Stock Exchange, Euronext, and Deloitte, Hanna has built a strong reputation for delivery, execution, and market knowledge, creating an extensive network of contacts across various financial and data industries. He also owns a highly respected property investment company called NED Capital as well as a security company called Abchurch Group – a company that provides a global response to local and international clients’ needs in the fields of security, risk assessment, special equipment procurement, and specialist training.

Born in Iraq to a Catholic family with Chaldean roots that speaks Aramaic (the language of Jesus Christ), he views his parents as visionaries. After his parents saw the tide changing in the Middle East, they decided to come to London in the 70s to invest, contribute to the community, and build a powerful legacy. He was educated in Switzerland and the UK which gave him the skills and knowledge that enabled him to kickstart all of his businesses.

Fast forward to today and Rafah is now a successful entrepreneur with several businesses under his belt. Hanna has founded companies such as NED Capital and the Abchurch Group and his data consulting arm now serves a global client base as it continues to grow exponentially. Their clients include banks, brokers, regulators, stock exchanges, and the biggest financial website in the world.

His property investment company, NED Capital, is a unique, non-leveraged property investment company based in London that is entirely self-funded. It’s currently building a grade-one portfolio of exclusive residential and commercial assets in the UK. The goal of this company is to continue to grow their grade-one portfolio of investments via their intricate knowledge of the UK property market and unique sales approach, utilizing their fully staffed in-house team of skilled contractors, leading to becoming a publicly quoted company. His security company Abchurch Group, on the other hand, has helped to significantly reduce maritime piracy in the past four years using their specialist maritime protection team and sought after proprietary patented technology.

Incidentally, Hanna’s wife, Dr. Mahtab Hanna, is a successful entrepreneur herself hence the reason why Rafah and his wife are so compatible together. She has built, run, and managed her jewellery business for over 10 years. Her creations have appeared in numerous films and worn by various celebrities and even royalty. With her extensive qualifications (an MA from the Royal College of Art and a Ph.D. from Central Saint Martins) and a unique design approach, she has built a worldwide reputation as a jeweller of conscience.

The Global Millionaire magazine recently caught up with Rafah to discuss his journey to entrepreneurship and here’s what went down:

What are you currently doing to maintain/grow your business?

The business world is not run on “basics” anymore. It is all about innovation, evolution, and revolution.

I am spending time, effort, and money on highly specific marketing campaigns to engage prospects with the message that our trustworthy brands continue to lead their respective markets. We maintain our relevance and criticality in decision-making options and ensure that our quality shines through, not only in delivery, but in every email, video conference, and follow-up.

We have also taken a unique approach to delivery by slashing project times, as we look to act ever more in the best interests of clients. The faster we can deliver without losing any of our guaranteed quality, the sooner our clients realise the benefits of our services.

Two other practices remain vital: one, only hiring the best of the best, and two, even though the businesses are market leaders, acting like a hungry, prudent, and wise start-up.

What social media platforms do you usually use to increase your brand’s awareness?

Each business is unique and therefore needs thorough research and a detailed plan of action. I always correspond the marketing plans to a cycle of client behaviour, the cyclical nature of each business, discrete events, and budgetary matters.

The nature of my businesses does not depend on or utilise the power of social media. My focus has always been on growing businesses rather than engaging in social media.

Today, social media is an important and ever-growing tool in my companies’ brand awareness strategies.

For example, Instagram is driven by stunning visualisations and presentation and is, therefore, most suitable for businesses such as @mahtabhanna jewellery designs and collections.

LinkedIn serves to inform, educate, and engage, but it requires a more medium-term strategy rather than a short-term one.

YouTube is the perfect platform to provide a more in-depth story about a concept or business.

It is important for readers to understand that all these avenues need careful planning. Have a clear objective in mind and allow room for fine-tuning. Do not rush in and make the fatal mistake so many have made; namely, thinking that simply being “on” a platform guarantees success—the opposite is true.

What is your experience with paid advertising, like PPC or sponsored content campaigns? Does it work?

Paid advertising is growing and will only continue to do so.

I passionately believe that one of the best ways to create a market and opportunity is to educate, inform, and offer products and services that would not otherwise be marketed in a traditional way.

Sponsored marketing works! The evidence on social media platforms like Instagram, Facebook, YouTube, and LinkedIn all support this assertion. These companies have grown to be some of the largest on the planet, and their revenues testify to it.

But we need to remember that their revenues are only part of the story. Paid advertising drives whole industries, fosters innovation, creates a better deal for consumers, provides massive tax income, and generates enormous employment opportunities.

What is your main tactic when it comes to making more people aware of your brand and engaging your customers? How did your business stand out?

The core tactic is to NEVER lead clients but to always be on their shoulders, taking the same journey, developing what they need in real-time, fine-tuning, and evolving.

Another primary tactic is always to deliver quality. Delivering anything less is an offense to the client, to you, your brand, your name, and those that work with and for you.

Brand awareness has changed; we use a myriad of tactics to stand out:

• Be first to deliver and announce innovation; remain relevant and borderless.
• Invert traditional marketing strategy by ensuring that every briefing contains in-depth details regarding competitor offerings – market intelligence is the antithesis of marketing.
• Utilise current affairs to progress the story.
• Utilise known figures in the industry to win, gain credibility with, and retain clients by association.
• Inform clients of changes that benefit them and illustrate the differences between the previous and the new.
• Maintain the very highest levels of investment in staff quality and ongoing training.
• Make staff the cornerstone of innovation – offer incentives to develop new products, processes, and services and reward them for trying, even if it fails.

What form of marketing has worked well for your business throughout the years?

There is no “best;” it is all about context and effectiveness. Throughout history, the most effective marketing tools have always contained three distinct elements:

1.Timing
2. Word-of-mouth
3. Recommendations

Our various businesses have what I call different routes to marketing. There is no silver bullet, but we think long and hard about spend cycles and regional and cultural differences. The biggest change has been the precision of strategic versus tactical online marketing.

For example, we ask ourselves whether we actually need to “sell” to the client directly, or if it would perhaps be better to act as their advisors. Create the conversation you want the market to have.

We no longer need to spend large amounts on general marketing; we can now target and pinpoint the exact right client or prospect base to inform and have the privilege to serve. Marketing is also not about an online presence. It might surprise people to know that one of my businesses does not even have a website yet is the absolute leader in its field.

What is the toughest decision you had to make in the last few months?

We have had the distinct privilege of not having to furlough a single member of staff or put stringent work practices in place. Instead, we have fostered a feeling and community of trust. I entrust the leaders of my businesses to be servants. They are the decision-makers, but they are also (and I never let them forget this) there to serve. To serve means to accept responsibility for outcomes, and therefore the risks and dependencies of those outcomes.

The toughest decision has been a family one; business is never what affects me most. As I read to my children at night, I always remember that their future is dependent on my decisions, not mine. You cannot go wrong doing the right thing the right way.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

Mistakes are more important, in my view than success. You learn instantly from mistakes, whereas success leaves a memory you hold onto as you try to retain the emotional attachment of misplaced hope.

Mistakes provide you with an experience, whereas success over-feeds the ego in the short-term.

Thankfully, I had two of the world’s greatest advisors who have taken my raw thinking and morphed it into phenomenally successful global businesses and ever-evolving vision: my amazing wife, Mahtab, and my late father. Their honesty and clarity blew holes in those thick brick walls in the shape of a heart!

My answers should not surprise anyone. Many years ago my greatest mistake was arrogance: I knew better than anyone; no one knew better than me.

That attitude, until I recognised and tore it from my psyche, cost me financially and resulted in lost opportunities.

Another mistake I made was to invest a little in long-term things that won’t change instead of investing more in the short-term things that will change.

However bright your name shines in lights; you must always remember that lightbulbs have a lifespan!

What new business would you love to start?

My passion lies in creating opportunities that were not there, to begin with. The next opportunity that would pique my business interest would be creating a tradable index and fund to benchmark countries, sectors, segments, industries, and governments’ use of plastics.

This venture would deliver an inverted investment opportunity whereby humanity itself is both the investor and the investment.

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

This is a good question because we never remember the acts of kindness that got us here, but we remember the opportunities that got away!

I don’t have many regrets; every small and major decision I’ve made has spurred my personal and professional growth. I have been humbled by the blessings of life.

What is the best advice you have ever been given?

Do not dislike that which may be good for you, and do not like that which may be bad for you. This quote, for me, encompasses the essence of learning.

Fear and growth cannot exist in the same space. One has to leave in order for the other to flourish.

What advice would you give to a newbie Entrepreneur setting up their first business?

To a large extent, your mental habits will determine your success.

Build deep relationships with people who have accomplished the goals you want to accomplish. Protect your idea from the very start. Think about what could go wrong and how you will deal with it; plan for failure by not resorting to laziness, self-pity, or any of the mental defeatist tools that we all carry.

If you are selling innovation, be the first to market and create your own destiny. Learn from other fields and bring those insights into your own. Always be thinking about quality: implement it; deliver it. Once you reach that state of mind, you will never allow yourself to deviate from it.

One of the proudest moments of my career was when, sitting on a flight, I overheard two people mention one of my companies and described the service they received as “truly world-class.”

Research and know your market or segment as if your children’s lives depended on it. Make sure you recruit the absolute best candidates you can at every level, be it a janitor, a developer, a salesperson, or even a business partner—they will represent you in good times, and they will fight hard for you during the bad times.

Be proud of your mistakes. If we all said “no” to evolving, we would still be living in caves!

Finally, the greatest advice I can offer when it comes to business is this: it is impossible to imagine a business leader not looking after their health and families and still being successful. Your mind is where it starts; your body powers where it ends.

Part revolution, part evolution.

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Entrepreneur Of The Week: Meet Uyanga Boldbaatar – The Founder Of Cinderella Beauty Clinic

Uyanga Boldbaatar has always wanted to become a doctor since childhood and her mother has been by her side since day one helping her to achieve her childhood dream. To achieve this dream, she studied Oral and Maxillofacial surgery in Mongolia, Korea, and the USA, and in 2013, she finally opened her beauty clinic in Mongolia as the culmination of all her hard work. Fast forward to today and Uyanga is now the founder of Cinderella beauty clinic – a clinic that performs cosmetic surgeries and non-surgical treatments and is currently one of the top clinics in Mongolia. Besides being an accomplished entrepreneur, Uyanga also happens to be a model and in fact, she is one of the brand ambassadors for the luxurious OOGII brand.

The Global Millionaire recently caught up with Uyanga to discuss her journey to entrepreneurship and here’s what went down:

What do you like most about being a surgeon?

Surgeons need good organisational ability and effective decision-making skills. We need to be intelligent, skillful, and wiry because we don’t have the option to fail. Usually, surgery is a male-dominated field hence I feel accomplished to be a female surgeon. My profession also makes people happy and self-confident – it’s just like giving them a new life every day and that’s why I love my job.

What is most challenging about what you do?

Plastic surgery is different from other types of surgeries. Usually, physically healthy people can get plastic surgery while people who are injured and functionally abnormal or have some type of congenital disease require reconstructive surgery. Sometimes, we feel bad that we can’t fully reach our goal because many factors can affect the surgical result, but these kinds of cases are few, this is more likely to happen after reconstructive surgery. That said, we’ve always tried to make sure that all of our patients are 100% satisfied.

What do you think is the appeal of surgical specialties as compared to medical specialties?

Plastic and reconstructive surgeons do restore function and normal appearance, as well as congenital deformities on the body. So this job requires medical knowledge and a sense of art from plastic and reconstructive surgeons.

What does it take to be successful and happy in your specialty?

When I make my patients look great and they end up looking exactly the way they’ve always wanted to look, I feel like I am the happiest person on the earth.

If you were to retire tomorrow, what is your most memorable moment as a surgeon?

What an interesting question! I’ve never actually thought about that because I am too young to retire (laughs). But I want Mongolia to be one of the top countries providing plastic surgery when I eventually retire.

How has your specialty changed in the recent past and where do you see it going in the future?

Plastic surgery is developing rapidly nowadays. It is associated with the development of the countries socio-economic growth, globalization, and the growth of the health and beauty industry. Nowadays we can choose any technologies, products, and surgical techniques that we want. It is an opportunity for a better tomorrow. I am quite certain that the things we can only fantasize about in the past will eventually happen in the future.

What advice would you give to medical students interested in your specialty?

Do not ever choose this profession based on your emotional dependency. Think well and plan early. Only consistent people become surgeons. Find out who you are first. Ask yourself if can you stand and take responsibility all the time in the operation room no matter how long the entire operation will be – after that, then make your choice.

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Inside The Mind Of Internationally Recognized Leadership Expert Chris Cebollero

Chris Cebollero is an internationally recognized leadership expert, bestselling author, Emergency Medical Services leader, and advocate who’s passionate about helping people chart a new direction, even in the midst of the most challenging of situations.

His professional history is showered with process improvement know-how. This knowledge provides executive-level support to achieve aggressive business and personal goals. He brings thought-leadership and over 25 years of organizational design success and his career has been defined by slashing costs and exploding growth in the healthcare arena. In fact, he constructed his healthcare management and small business consulting firm on that foundation.

Some of his key areas of expertise include executive coaching, leadership development, emotional intelligence, change management, Kaizen, Agile & Lean methodology practice, relationship building, business plan creation, organizational process improvement, motivational and keynote speaking, and healthcare/EMS transformation. He has been recognized for his strategic leadership as the Chief of EMS for Christian Hospital, he has been delivering inspiration to international audiences for over a decade as a highly sought-out speaker and he has also been writing bestselling books on leadership.

The Global Millionaire magazine recently caught up with Chris to discuss his journey to entrepreneurship and here’ what went down:

Could you please tell our readers a brief background about yourself and how you started your business?

The foundation of my career was spent as a paramedic in leading EMS agencies. Being able to manage multimillion-dollar organizations with hundreds of FTE’s gave me the ability to learn the finer points of leading successful and award-winning organizations. As my leadership experience grew, people were now reaching out to me to assist them in developing their leaders and teaching them the finer points of organizational process improvement. In 2014, Cebollero & Associates Consulting Group was started, focusing on Leadership Development, Organizational Process Improvement, and Individual, Group, and Executive Coaching. I am recognized as an International Leadership Specialists, Multi-Number 1 Bestselling Author, and a dynamic and engaging Motivational Teacher.

What are you currently doing to maintain/grow your business?

John Maxwell calls it the Law of Process “Leadership Develops Daily, Not in a Day.” One of the biggest mistakes is that we do not invest in our own business and professional development. I am always on the lookout to engage with my mentors, and industry leaders to hear their philosophy, understand their conceptualizations, and analyse the next sets of strategies and directions. In the current pandemic environment, it is paramount to be as fluid and dynamic as possible. We have to polish our processes, become risk-averse, and change with the times.

What social media platforms do you usually use to increase your brand’s awareness?

It really depends on the leadership product or service that is being offered. If I am targeting the Executive, LinkedIn is my platform of choice, for the newer leader, Instagram, and the middle manager, Facebook. It is truly paramount for businesses to have a strong social media footprint for new business, bit more importantly brand awareness.

What is your experience with paid advertising, like PPC or sponsored content campaigns? Does it work?

I like the PPC model of advertising. Remember, people do no buy products or services. What they buy are solutions to their problems, and it is your products and services that are the solutions to their problem or needs. A big error is that we think the way we market is the way our clients or customers want to be marketed too. But the opposite is true, we have to find the marketing ad that resonates with their needs. If we put an ad online and it gets 5 clicks, we are not reaching our target market. This will cause us to go back to the drawing board and reinvent the wheel. PPC is a great tool for spot-on targeting to the ideal client avatar.

What is your main tactic when it comes to making more people aware of your brand and engaging your customers? How did your business stand out?

I love offering free content to my present and future clients. I host the Ultimate Leadership Podcast. We have just over 100k subscribers and see 10’s of thousands of downloads. This is a great way to stay relevant and bring brand awareness. If you’re not a fan of the show come on in and join the discussion.

What form of marketing has worked well for your business throughout the years?

I love that we get a majority of our customers and clients through word of mouth. We are a company that develops custom solutions for our clients. It is this service that is appreciated by organizations. Of course, social media platforms are great to share free and paid content.

What is the toughest decision you had to make in the last few months?

2020 has been an interesting year on many fronts. With the pandemic running rampant around the world, I lost over 50% of clients. When 2020 started, I developed a series of goals for myself and business. It was important to continue along these lines of completing the established goals. Many people are throwing 2020 away as a lost year. This is a big mistake, the businesses that will come out on top are the ones that have used this as a rebuilding, polishing, and setting a new course for future operations.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

Everyone has a product and service to sell you. In my business and personal life is either investing in these resources that did not meet the caliber of quality they mentioned they would. I wasted lots of money trying to catch the net big wave. Pay more attention to where your investments and funds go.

What new business would you love to start?

I would love to develop a next-generation online leadership academy. In the current times we are in, we are leaning to a more online and virtual business. With that said, if we are to bring more live and virtual training to those who will need it will be a great future business.

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

This is a great question and one that I have tried to remember to share with clients just starting out. My advice is to gain as much knowledge and education you can along the way. This is not just about your job or career, but really becoming a student of business and leadership. One of the most common mistakes by business owners is they do not invest in their own professional development to ensure they are going the best upper hand possible.

What is the best advice you have ever been given?

I have to be honest, when I was first starting, I was a wee bit egotistical. The belief of who I was and what I was capable of was blinding. A mentor took me aside and told me this one sentence that totally refocused my direction. Those magic words were, “you are not as important as you think you are. Shut up and listen more.” It was a rude awakening that I was replaceable and needed to earn my value to the team every day.

What advice would you give to a newbie Entrepreneur?

Become a student of your craft, your business model, and the art and science of leadership. Opportunity does not happen by chance, and it is vital for your success that when the opportunity is presented, you are able to first recognize it, second, you are able to analyze it, third, you are in a position to take advantage of what this opportunity means to your business and future success.

if you want to find out more information or contact Chris you can go to his website via this link or email him directly at chris@chriscebollero.com.

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3 Deadly Oversights That Lead to a Lifetime of Debt

A lifetime of debt is certainly not something someone plans for. People go to work 8 hours or even more than 8 hours a day just to get financial security. Well, that’s probably what you’re thinking.
Some people go to work every day not to save up for the future but to actually pay off the debts of the past. And what’s worse is that it’s never going to be enough. They could work their whole life and still not be able to pay back the capital. That’s what you call a lifetime of debt.

Sounds terrible right? Yet, people easily get into this rat hole. Nobody forces them in! They walk directly, sometimes, they even run right to it. Note, with open arms! Now, who would want to run into a lifetime of debt? Nobody does but everybody does it! Such an irony.

However we enter that rat hole of lifetime debt, it’s still the same, we did and most of the time, it is always by our own doing. We enter into this “debt”-hole on our own. In fact, you could be walking directly into that rat hole right now!

Getting into Instant Money Schemes

How terrific it would be if, with one snap of your finger, you would be instantly rich. How amazing it would be to wake up and everything has changed. That’s really quite tempting. There are times that we get tired of waking up every morning, working 8 hours a day, 5 days a week, and getting just enough salary to make us survive for the month.

Sometimes, we just want to escape that reality. There are lots of instant-money schemes today where you would need to invest money and they will promise you that it will double or triple. Because of the idea, you instantly jump into the boat bringing all your savings with you.

What’s worse is that you don’t even know where the boat is heading. In a matter of seconds, you find the boat sinking and all your money going with it. Getting into instant money schemes is the best way to get into debt. You invest all that you have only to find it eventually gone.

Getting a Payday Loan

Now, this is a common scenario with many people. People have been warned about these easy-to-get payday loans. Still, people are patronizing it. In fact, more than 2 million people get payday loans every year.

What’s dangerous about these payday loans is that they have really high, I mean really high, interest rates! Plus, they get access to your bank accounts. What’s even worse, they are so easy to renew. When your payday comes and you don’t want a chunk of money removed from your account, you renew the loan and the cycle of debt begins.

Getting Things You can’t Afford

Sounds familiar? Maybe because you’re doing it right now. Trying to buy a house, a car or expensive things you think you need but still can’t afford? Well, that will surely get you to a lifetime of debt. The money paid for these things, plus all the taxes and other payments are more than what people can actually produce in a month.

The temporary solution, borrow, borrow, and borrow! That’s a lifetime of debt right there coming for you. You might have noticed by now that the easiest way to get into a lifetime of debt is wanting to get things easy and fast. Remember, if you want to avoid a lifetime of debt, plan ahead and practice self-discipline!

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Entrepreneur Of The Week: Meet Stefanie Parks – The Founder Of DermWarehouse

Stefanie Parks is the founder of DermWarehouse, a leading e-commerce site offering dermatological and skincare products. Stefanie’s digital marketing background and extensive knowledge of skincare products drove her to launch DermWarehouse – a skincare and beauty website, serving customers from around the country. DermWarehouse offers high-quality, professional-strength skincare, makeup, and hair care products as well as expert advice, information, and tips.

MoneyCentral Magazine recently caught up with Stefanie to discuss her journey to entrepreneurship and here’s what went down:

Could you please tell our readers a brief background about yourself and how you started your business?

I studied marketing at the University of Maryland, and after a couple of years in market research, my brother and I decided to start a business together. The Media Captain is a digital marketing agency that has grown to be one of the largest shops in Columbus, Ohio, where we’re from. Our dad is a dermatologist who opened a practice in Columbus over 30 years ago. After working with many e-commerce clients for The Media Captain, we saw an opportunity to combine our dad’s background with ours and start our own e-commerce site selling skincare and beauty products. That’s how DermWarehouse was born. My brother, Jason, is now running The Media Captain, while my primary focus is on DermWarehouse.

Can you describe your journey to success? When did you start? Did you ever imagine you would become this successful?

We came up with the idea for DermWarehouse back in 2012. That’s when we purchased our domain name and started thinking about launching this new business. It wasn’t until 2016, however, that we started building our website. I was actually living in Thailand at the time, which allowed me the extra time that I needed to dedicate to launching the business. When you visit any e-commerce site, you never think about the work that goes into getting it set up. It took us almost a year to reach out to brands and start forming relationships, add all of the products to the site, and get the website ready to launch. In November 2016, we launched DermWarehouse and have been growing ever since. In the year and a half since we launched, we’ve added over 1,000 products and 60 skincare brands to our website, shipped to every state in the U.S. and have become a top 10 dermatologist-backed e-commerce skincare site. I never could have imagined what running this business would be like and I can honestly say that I feel like I’ve found my calling. It’s a pretty great feeling!

What are you currently doing to maintain/grow your business?

We focus heavily on advertising to bring new traffic to the website. We spend a lot of time building our SEO so that our site will eventually rank well organically. We are also constantly adding new brands to expand our customer reach.

What is your experience with paid advertising, like PPC or sponsored content campaigns? Does it work?

I am very experienced with paid advertising. We primarily use Google shopping and PPC and this is currently our main source of traffic to our website. We have thousands of different ads running for all of the brands and products that we sell and are always working to optimize our ads and boost profitability. There is always work to be done in terms of optimizing the campaigns to make sure they’re profitable, but yes, the ads certainly do work.

What is your main tactic when it comes to making more people aware of your brand and engaging your customers? How did your business stand out?

We are in a unique position because we sell brands that many people have heard of. So, even if someone doesn’t know about our company, they can easily find us by searching for the product or brand that they know and love. However, there are certainly other players in the market, so we definitely need to make ourselves stand out. First, our business is owned by a dermatologist. This is very important because anyone can ask a skincare question and get advice from someone who knows what they are talking about and has vast experience with all types of skin conditions. This also gives us access to many brands that not just anyone can sell. For many of the brands that we feature on our site, you must have a dermatologist on-board in order to be able to buy the products. In addition to that, we have excellent customer service. Our customers know that they can reach out at any time and talk to an actual person who is there to help them with whatever they need. Customer service is where we really excel and it keeps our customers coming back to us again and again.

What form of marketing has worked well for your business throughout the years?

Google Shopping and PPC have been the most profitable for us.

What is the toughest decision you had to make in the last few months?

Since we launched, I was handling a lot of the order fulfillment. In the last few months, we made the decision to hire someone to help with that to free up a lot of my time during the day. It was very difficult to make that move and to let go of a little bit of this part of the job, but it has made a huge difference and allowed me much more time every day to grow the business.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

With any e-commerce business, there is a lot of inventory involved. It’s tough when you have to order products that you may not know that much about or you’re not sure is going to sell. On the other hand, it’s hard to pass up certain products or brands because you don’t want to spend the money. I’d say my best advice when starting an e-commerce business where you’re selling products from other brands is to try to work with as many brands that drop ship as possible. This will lower your costs significantly and help you figure out what inventory you can move successfully.

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

I wouldn’t have waited so long to get started. As I mentioned, we purchased our domain name in 2012 but did not actually start building our website until 2016. I wish I had another 3-4 years under my belt!

What is the best advice you have ever been given?

The best advice I’ve ever been given was actually by my brother. He told me to make sure that I’m doing something proactive to grow my business every single day. When you own a business, there is always so much going on and it’s easy to get caught up in all of the day to day tasks that you need to take care of. Now, I put aside a chunk of time per day (2-3 hours is my goal) to do something that I know will grow my business. Whether it’s going through our advertising campaign to see where we can expand or cut the budget, working on SEO to grow the business organically, or reaching out to new brands to add to the site, I know how important it is to make sure we are constantly growing.

What advice would you give to a newbie Entrepreneur setting up their first business?

As soon as you decide that you are going to launch a new business, start working on building your SEO. Paid advertising is a great way to get immediate traffic and new customers to your site, but nothing is going to be more profitable or pay off more in the long run than getting that traffic organically. Building up your domain authority to achieve top ranking on Google can take a long time and as soon as you decide that you’re going to start a business, you should begin working on this. When we first decided to launch DermWarehouse, we built a homepage and contact us page for our site. This was over a year before we sold a single skincare product. The reason we did this is that while we were getting the site up and running, we were able to begin building our SEO strategy. Over a year later when we finally did launch, we were so far ahead of the game!

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5 Highly Effective Success Tips For Entrepreneurs

Do you truly want to know how to be rich and successful in life? If so, then you need to be ready to change your daily routine. It goes without saying that even the slightest detail may determine whether you’ll succeed in life or not. There is a massive competition out there, and hence you must be prepared to do whatever it takes to stand out from the rest.

So what does it take to be a successful entrepreneur? Well, the answer is not simple. There are several steps you need to take to make sure that you achieve the success you are entitled to. Below are some of the essential tips that will help you in your path. These tips will help you grow your revenue and eventually reach the pinnacle of success.

Use your strongest points

First of all, you need to make use of your strongest points so you’ll thrive in business. It is true that we all have our weaknesses, but what you need to concentrate on are your strengths. What are you really great at? This is where you need to focus on, in order for you to become successful in your chosen field.

Adapt to new technology

Another thing you must incorporate in your entrepreneurial life is the use of technology in business. With the latest advancements in technology, there is a whole new world out there that can help you go up to the next level in your business. A whole world filled with opportunities for you to grab and take full advantage of.

Invest

If you want to become successful one day, then you must be ready to invest prudently. Find opportunities that require minimal risk and maximum profit margin. There are a lot of options for you out there if you simply analyze the dangers and separate the wheat from the chaff.

Be vigilant

Once you have found opportunities to invest, you need to be cautious and assess the dangers in what you’re entering. You should not rush into just any investment which might eventually be proven fragile. Instead, you ought to weigh all the pros and cons until you reach your decision as to the most viable investment opportunity.

Be bold

Do not be afraid to make a statement and be innovative. Do things your way, so that you can benefit from the outcome. If you are really certain about something, do your due diligence then go ahead and show the world what you are made of!

Keeping these things in mind can definitely help you spread your wings and reach your goals. If you implement these tips in your daily routine, you will be a successful entrepreneur before you know it!

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4 Common-Sense Ways To Shrink Your Credit Card Payment

An average person usually falls into the trap of having a bad financial status with credit cards because of unpaid monthly dues. And once you have fallen into the ploy, it is already hard to recuperate especially in the kind of economic status that we currently have. We end up paying the ever-increasing finance charges that make the bulk of our debt.

Our credit card, monthly payments can only go one way…and that is up unless we do something to address the ever-increasing debt balance. Every unpaid monthly balance would pile up in the form of finance charges that would yield to a higher interest rate being charged on our credit card accounts. And, if this cycle goes on and on, we will just wake up one day realizing that we can no longer pay all credit card dues and we’re stuck in a deep dark hole. The good news is, there are ways and means on how we can lower down our credit card payments, and here they are below.

The first thing we can do is make monthly payments that are significantly higher than the balance. If we can do this regularly for consecutive months, then, our credit card payments will definitely drop down.

Not only must we pay more than what is required from us; we should also pay on time to further cut the finance charges associated with late payments. Furthermore, we must control our urge to use our credit card for so long as there is still an outstanding balance that needs to be paid off.

Another equally wise alternative course of action if we are already caught with sky-scraping credit card payments is to tap the services of our credit card counseling organization. Apparently, major credit cards offer this kind of service to address the issues of delinquent payers. They participate in debt management programs that aim in lowering down the monthly payments and reducing the interest rates of clients enrolled in this program. It is to be noted though that our eligibility to participate in this program would depend on our relationship and standing with our creditors. The people behind the card counseling organization are ready to help people who demonstrate financial distress especially in dealing with the payments of their credit card balance.

Another good thing with the credit card counseling organization is the fact that credit counselors will provide a projection of what your monthly payment would be; consequently, they will help you come up with a workable budget that will make you pay off your monthly credit card balance and at the same time address all your daily expenditures. Furthermore, they will also tell you the amount of interest savings that you will be able to earn while on the program.
It is to be noted that the coverage of credit counseling organizations to lower down your interest rate will solely depend on the status of your account. Apparently, they prefer current accounts; however, they can still give a remedy to late payments through the wide range of re-aging benefits that they offer through the debt management program.

It is important to take action before our accounts get to be charged-off and referred to debt collection agencies because by then, it will already be too late because they don’t have programs that offer benefits just like the credit counseling organization and debt management program. You’ll just end u sinking even further in a black hole.

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Bangladeshi Multi-Millionaire Teen Taha Masud Is Changing Lives In Bangladesh By Opening Its First Skill-Sharing Platform

Prior to COVID-19, Bangladesh was seeing rapid developments in almost any industry one could think of; it was as if every day they were seeing new kinds of services and platforms being introduced to them, and every day they were hearing about new entrepreneurs with brand new enterprises popping up everywhere.  

Amidst all this boom, it was about time that Bangladesh got its first taste of an online skill-sharing platform – and this is where 17-year-old entrepreneur Masud Ashraf Taha from Dhaka enters with a brilliant startup idea – Home Academy BD.

Home Academy is the country’s first online skill-sharing platform that offers international-standard courses teaching a range of courses from cooking to graphic design to business courses, all taught by Bangladesh’s leading professionals in their respective fields. These courses, combined with the most affordable prices and easy payment options, make Home Academy a very attractive venture indeed. But the one aspect that sets them up for success is that the goal of their courses is not only to make you an expert in developing your skills but also to teach you how to capitalize on these skills so you can start earning online and beyond.

Home Academy is all about promoting the laptop-lifestyle in the more traditional Bangladeshi society.

Prior to its rather hasty launch in late May, Home Academy received high acclaim from some local but mostly international media including giants like The Buffalo News, Yahoo Finance, and 20 other such esteemed media companies, all exalting Taha’s startup as the “Next Big Thing in Bangladesh!”

This is definitely a huge title to live up to and so the question arises: Did it live up to its grand hype?

It’ll be a fair call to say it did; it is almost impossible to find anything on Home Academy’s Facebook and Instagram pages except warm testimonies after testimonies from Graduates (Course Buyers), endlessly thanking Home Academy for changing their financial life forever. One testimonial video is even over 5 minutes long. With such feedback from graduates, it is impossible to deny the positive impact that Home Academy has had.

As of July, Taha Masud and his team have already graduated over 200 students from homeacademybd.com. Around 70% of the people – overwhelmingly teenagers and young adults – have reported having already started earning money online applying the lessons they learned from Home Academy’s courses. With such stats to show for, Home Academy can indeed be called the next “big thing” in Bangladesh.

CEO Taha Masud has promised more things in the near future as he is still producing more courses, implementing new marketing strategies, and fixing up systems within the organization – unfortunately, the COVID-19 pandemic has hindered his progress rate along with thousands of businesses all over the world – but he assures everyone that this pandemic might slow him down, but it won’t stop him.

Currently, Home Academy is offering two very lucrative courses – “Dropshipping Business” and “Amazon Reviewer Business” – in fact, the CEO himself is the course instructor of these two courses.

With dozens more premium courses underway, Taha Masud’s Home Academy might just turn out to be more than the next big thing. The odds are definitely in its favor.      

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Meet The Man Behind The Cover Of The August 2020 Issue Of Global Millionaire Magazine: The Inspirational Chris Graffagnino

Imagine if you had a crystal ball that enables you to see into your future – wouldn’t you use this crystal ball to avoid making any mistakes and use every possible opportunity to achieve success? Well, guess what? There is such a thing as a real-life crystal ball – and it comes in the form of a person you can turn to for solid advice about your business… that person is usually referred to as a “mentor.” Having a mentor is a must for any budding entrepreneur because they’re a valuable resource who have already experienced most of the challenges that you’re still currently going through. So in effect, they actually have a solution to those challenges.

Chris Graffagnino is one such mentor. Chris is a well known New York-born entrepreneur, business influencer, innovator, and avid traveler who is widely recognized as one of the most influential mentors in the world. A former law enforcement officer and combat veteran, he has used his experience in the security and risk mitigation industry and he has applied it to the business sector. With his unique skill set, Chris was able to develop a niche market in crisis management.

Chris was recently named as one of the ‘Top 10 Most Influential People in 2020’ by Yahoo Finance alongside big names such as Gary Vaynerchuk and Lisa A. Romano and for good reason. He has several accolades under his belt; besides being named as one of the Top 10 Most Influential People in 2020, he was also included in Yahoo Finance’s elusive “Top 10 Mentors to Follow in 2020” list. He has effectively developed several global businesses on and off Wall Street and he has several successful entrepreneurial ventures under his belt including a successful global risk solutions company. Chris actually specialises in business development and his passion is to help monetize a budding entrepreneurs’ ideas through his very own non-profit mentorship program “Settle4Success.” Through this detailed program, he’s helping emerging entrepreneurs develop their own businesses. He is helping them monetize and learn the ins and outs of the industry when it comes to business development and risk mitigation.

The Global Millionaire Magazine recently caught up with Chris to discuss his recent success, and find out how he is planning to continue to inspire everyone who wants to lead their business towards success and here’s what went down:

Could you please tell our readers a brief background about yourself and how you started your business?

I am from Staten Island, New York and I guess you can say I am an entrepreneur (laughs). By experience, I’m a traveler and business developer. More importantly, I am a father to my two wonderful kids – Christopher and Chloe and husband to my amazing wife – Danielle. I started my career in law enforcement and took that same service with me to Afghanistan as an infantryman in the US Army. I have culminated all of that experience in security and risk management to the private sector where I’ve helped develop niche market areas in crisis management such as security evacuation and repatriation services. In 2016, I took my own risk (no pun intended) and co-founded a global risk management firm that provides cutting edge global security and logistics products and services. Most recently, I founded Settle4Success to provide mentorship to budding entrepreneurs.

Can you describe your journey to success? When did you start? Did you ever imagine you would become this successful?

I think my journey started when I was a teenager and my brother Michael and I started a landscaping company with our dad. I was 13 at the time and my dad was my mentor. He taught me about the importance of hard work and never quitting without me even realizing it. At the time, work seemed like a chore but I had no idea the impact starting my own business at that age would have on the rest of my life, even if it did take me a while to realize it. I believe everyone has success within them. It wasn’t until I was hurt in Afghanistan at 26 years old did I start wanting more out of myself. Furthermore, it wasn’t until I was 32 years old when I started connecting all the dots from different years of my life to finally realize what I was meant to do. This was the year I left working for someone else behind and promised to never be a part of the 9-5 grind ever again.

What are you currently doing to grow your business?

Social engineering is a critical aspect of business development. I take pride in developing my network and building relationships with my clients around the world. Settle4Success is my newest venture to help enlighten those struggling with finding success. I aim to mentor as many entrepreneurial minds as I can by sharing my experiences and knowledge in the hope that I can educate and motivate people into a successful business outcome.

What social media platforms do you usually use to increase your brand’s awareness?

Currently, my largest presence is on Instagram (@iamchrisgraff, @settle4success). I also utilize Facebook and Twitter as well.

What is your experience with paid advertising, like PPC or sponsored content campaigns? Does it work?

I am very aware of paid advertising; however, I still believe in old-school social engineering, more specifically, targeting industry hashtags and accounts and engaging in direct conversation to introduce yourself and connect through similar interests. This helps build stronger, longer-lasting relationships and can ultimately provide better business exchanges. I do not sell any products or services via the internet; however, I directly engage in conversation with hundreds of social media accounts daily to continue to drive brand awareness for my mentorship platform.

What is your main tactic when it comes to making more people aware of your brand and engaging your customers?

Settle4Success is new in the sense of it providing a free platform for entrepreneurs to connect, download educational material, and network with other likeminded individuals. It is a chance to be motivated and inspired to monetize one’s ideas and dreams. The uniqueness about it is that it’s free. I always say follow your passion, not money. If you follow your passion the money will come. My passion is to help others. In the case of Settle4Success, helping others achieve their version of success through business development is my goal.

What new business would you love to start?

I think starting Settle4Success allows me to see into many new business opportunities. Who knows, I may invest or become partners with ones that catch my attention!

If you could go back in a time machine to the time when you were first making a name for yourself, what advice would you give yourself?

I would tell myself to hold on to the days of having nothing to lose a little longer. When you first start you take big risks, you have nothing to lose and stress is minimal. When you start experiencing success, you can lose everything. That fear of going back to nothing causes hesitation. You’re not willing to take on such risks anymore because you have something to lose. Although I am by no means anywhere near my finish line, I do miss the beginning phases. Enjoy those moments because that is where history is made.

Do you have any favorite business-related or personal development related books that you can recommend?

I don’t want to sound bias, but I have a book coming out end of this year – Settle For Success. I think many people will enjoy it. As far as authors go, I like Jocko Willink and Gary Vaynerchuk. They both have several inspiring books published and I have bookmarked pages that I constantly turn back to for reference.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

Entrepreneurship is a risky business. Working in Corporate America and on Wall Street, I’ve seen major companies lose millions of dollars. Fortunately, I was able to utilize my time on Wall Street to avoid many of those mistakes. To succeed on your own, you have to undoubtedly take risks, but those risks can and should be calculated. Start small and scale as you have some experience with success. This will keep your business and any losses manageable.

What have you learned in the process of becoming wealthy that others can learn from?

Being wealthy was never my goal. Like I said, pursuing my passion was and still is. I always wanted to provide for my family. The financial status sort of came once the market started positively accepting my work. That is a great feeling. But being wealthy is organic. It’s open-ended and you have to struggle with the reality that not everyone will like you. My advice to others is to stay humble and realize there’s always something to learn, regardless of the origin nor how big you get.

What form of marketing has worked well for your business throughout the years?

My background lies within the expertise in security and risk management. In this space, relationship building is the best marketing solution. It takes a lot of sweat equity to develop and foster relationships between individuals. However, those relationships will last a long time. In business, I don’t look for ‘one and done’ clients. Developing a trustworthy relationship ensues years of collaboration.

How did your brand stand out from the rest of the other brands out there that is similar to your niche?

Right now, Settle4Success is free and it offers opportunities to connect directly with myself and other business collaborators for one on one advice and mentorship.

What is the toughest decision you had to make in the last few months?

The global COVID-19 pandemic has been tough on everyone and I think many people had to make hard decisions. For me, the hardest decision was to double down on my Settle4Success mentorship and launch throughout this period of uncertainty. S4S requires time and financial resources to launch. I decided to continue moving forward and speed up the launch date because I know there are so many people out there contemplating their careers during COVID and need to consume my information to help them make the changes necessary to succeed.

What is the best advice you have ever been given?

The best advice I was given was to always try. Win or lose, you will never have any regrets for trying.

What advice would you give to a newbie Entrepreneur setting up their first business?

When you die, there are two numbers on your tombstone. The year you were born – the year you died. Pace yourself! It is a long, stressful, rewarding road. Enjoy the dash!

CHf

5 Ways To Boost Facebook Posts Via Organic Reach

If you want to boost your content reach over Facebook and the engagement on your posts, this article is just the thing for you! Below are simple ways listed that will encourage the growth of unpaid reach, either in small steps or a large whole, depending on your circumstances!

First questions first!

But why is the level of organic reach so little?

The reason is simple and divided into two!

  • The competition has increased significantly over the years and there is a lot of content shared by Facebook users. Alike content tends to get overshadowed.
  • The algorithm has evolved as well. Facebook filters out posts dependent upon the quality of the posts. It prefers the paid reach over the non-paid too!

So, in light of these circumstances, how does one increase the organic reach? What are the tactics and strategies to use?

How to boost up your organic reach?

  • Posting when its off-peak hours:

Using the Facebook insights, posting your content when more audience is online seems like the most reasonable option. But in reality, there is a lot of competition in the on-peak hours and the battle is at its best. Most posts get overshadowed and the most liked by the majority receives all the attention. But in off-peak hours, with lesser storming of the News feed, your posts will receive more attention. And when a post hits a certain engagement mark, Facebook promotes it for free! So, find out your best timings to post from your insights.

  • Embedding your links to other places:

Another simple way to boost your posts is by embedding your content on places apart from Facebook. Place your links on your blogs or channels, perhaps your newsletter too. This not only encourages the people to like, comment and share but also to check out your other posts!

  • Targeting your posts:

Target your audience! Firstly, within your news feed and then on the whole Facebook platform. This will help get more views and people with interest in your content will engage. Click the globe icon and underneath the status option, limit your audience by different qualifications such as age limits and interests etc.

  • Using Facebook video:

There is a new hype for videos in the feed. Facebook users are loving video content and the best way to make your page more captivating is by introducing video content. You should make original video content for your page. It doesn’t need to be complicated stuff; simple slideshow works have also been seen to generate more activity than normal posts in most cases.

  • Quality over quantity:

There is always a rivalry going on in every social platform and the best ones seem to win only. For this reason, make quality your goal, not quantity. Make sure that your content is high-quality, even if you post less. Create original and unmatchable content, and you’ll be sure to get tons of engagement! Spend the time you would use on posting multiple average things on creation of good and higher quality content.

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5 Ways To Determine If Your New Business Idea Will Rock The Market

When planning a startup, every entrepreneur wants to make sure his/her business idea becomes profitable. This is to make sure your investment is paid off and your effort is worthy of your time. Choosing a business can be a tough one because of the risks you need to consider. For a new entrepreneur, these precautionary measures can help you decide about the first things you need to do before entering the world of business.

Choose a business based on your strength and personal interest.

Venturing into a totally unknown business is a very big challenge. Choosing a product or service near your personal interest will actually help you gain knowledge on how it works and how most people are likely to use them. You can visualize the satisfaction of your upcoming customers by comparing it to your personal experience as well. This way, you can determine the pros and cons of using the product personally.

Map out the areas of high demand

Products from each area vary depending on the need of the consumers. You need to check if the chosen location where you want to put up a business has potential customers and competitors. Figure out the number of similar businesses in that area and verify the estimated household expenditures who may purchase your chosen product or services. You got the ideal location if the area has a high demand but has a little competition.

Know your competition

Analyzing the uniqueness of your product will help you beat the competition. This is one of the most crucial parts for start-ups so it’s vital that you include it in your to-do list. Make sure the value of your product separates itself from other competition. You can evaluate the reviews done by the consumers to check their reputation, to determine if the price matches the quality of the product, and customer experience. This will help you analyze how to please your potential customers and provide their unserved needs.

Check the trends of your chosen product or service and match it with the condition of the industry

Many market research firms can help you assess the market condition based on the selected products and services you want to sell. Having a detailed report helps you get an idea if your business will stay strong not just because it is trending in the industry but because most people need your service. Keeping a longer length of stay in the industry is very important to make sure your business is untouchable no matter how many trends come and go.

Ensure the sustainability of your business model

Make sure you can meet the demand and supply of the product which are the discrete requirements of any business. A thorough pre-analysis which includes collecting information about the price proposal or cost structures, scalability of the product, and revenue models will define your business success rate. On top of these measurements, make sure you have a backup resolution in case a problem persists.

Considering these factors before starting your business will help you prevent failure in the future. These tips are very important if you are aspiring to be one of the most successful entrepreneurs in your chosen field of industry.

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4 Everyday Habits Of Self-Made Millionaires

Do you want to know how to become a millionaire? One thing that you need to know is that millionaires don’t follow the same path towards their success. However, it is easy to decipher their financial success because there are several habits that they have in common. Below are some of the habits of financially successful individuals that you need to emulate if you want to become a millionaire one day yourself.

Optimizer

One of the traits that millionaires have in common is that they employ an efficient financial system. They put their bills on auto-payment to make sure that they are paid on time. They do this to avoid paying late fees.

They also invest their money on a regular basis by deducting a portion from their income, or from their savings and putting that money in an investment because investing your money can allow you to grow it. Most investment vehicles, such as real estate, stocks, certificates of deposit, or bonds, offer returns on your money over the long term period. This return allows your money to build, creating wealth in the long run. Some people prefer to keep their cash in the bank, but what most people don’t know is that inflation can deal huge damage to your cash assets. This is because the typical terms and interest rates of your savings or cheque accounts are not designed to keep up with rising inflation rates.

Pay Attention to Details

A self-made millionaire pays close attention to all the details surrounding their financial circumstances. They know the amount of cash that’s sitting idly in their savings account and they will invest them so they can get a higher rate of return. They will also notice whenever their phone bill, water bill, electricity bill, or any other bills are higher than usual. They’ll figure out why the bills are higher, especially if the consumption or level of service is the same. Another thing that any self-made millionaire does is always look at the terms and conditions before signing any contract. This will ensure that they get what they expect, and won’t get any surprise expenses in the future.

Continuous Learner

More often than not, most successful people have had a good education. Working hard at school and then going on to further education or college has long been encouraged by parents and teachers for generations, as most people still believe that education is the key to success. While there are plenty of high-profile people out there who we now consider being mega-successful didn’t actually do too well at school such as Bill Gates and Mark Zuckerberg who dropped out of university to become two of the richest people in the planet, most millionaires have a degree in a field that provides a higher chance of earning a lot more. Doctors, attorneys, and engineers definitely earn more compared to laundry and dry-cleaning workers, food preparation and serving workers or dining room and cafeteria attendants.

One can easily see the benefits of education in the workplace. Engineers with four-year degrees often make more money compared to drafters and technicians who only have an associate’s degree or a high school diploma.

However, it should be noted that education is not always about making more money. Learning new skills can also save you money in the long run. Some skills that can be helpful include troubleshooting a computer, fixing stuff at home, and managing one’s investments, just to name a few.

Take Risks

If you ask a millionaire how to become rich, they will always tell you to take calculated risks. Whether it’s the stock market or real estate, there are always some risks involved, but that didn’t stop them from investing though. A lot of people fail to become rich because they fear the possibility of losing money. While becoming a millionaire is never a guarantee, exposing yourself to more opportunities can vastly improve your chances of financial success.

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Entrepreneur Of The Week: Meet Vincent Zurzolo, The CEO Of One Of The Largest Dealership Of Vintage Comics In The World

Vincent Zurzolo grew up in Rockaway Beach, Queens in New York City. He’s always loved comic books as a kid. He decided to make a business out of something he loves so he began buying and selling comic books with a friend – he was 15 years old at the time. He started at the bottom of the ladder, he was even selling comic books on the streets of Manhattan. When he graduated in 1993, he was selling comic books part-time through school. Six years later he merged companies with his partner Stephen Fishler. After years of working hard, he eventually achieved success and he is now the co-owner of Metropolis Collectibles, the largest dealership of vintage comics in the world. In 2007 they started a second brand called ComicConnect.com which is the premier online auction company in the world and in 2015 they started Metropolis Gallery which is the only gallery in New York City that focuses on comic books and fantasy art.

StarCentral Magazine recently caught up with Vincent to talk about his journey to entrepreneurship and here’s what went down:

Could you please tell our readers a brief background about yourself and how you started your business?

I grew up in Rockaway Beach, Queens in New York City. I started as a child who loved comic books. I loved everything about them. The stories, the amazing art, the fantastic heroes and villains. I began buying and selling comic books with a friend while in my teens.

Can you describe your journey to success? When did you start? Did you ever imagine you would become this successful?

I’ve been selling comic books since I was 15 years old. I started at the bottom of the ladder, even selling comics on the streets of Manhattan. I worked hard and set goals and I am now the co-owner of Metropolis Collectibles, the largest dealership of vintage comics in the world. I know I would do well but wasn’t sure how I would become #1. I was selling comics part-time through school but when I graduated in 1993, it was only 6 years until I merged companies with my partner Stephen Fishler. From there it was just like Superman, Up, Up and Away!

What are you currently doing to maintain/grow your business?

In 2007 we started a 2nd brand called ComicConnect.com which is the premier online auction company in the world and in 2015 we started Metropolis Gallery which is the only gallery in NYC that focuses on comic books and fantasy art.

How did your business stand out?

I believe in our brand. My team is passionate. We believe and know we are the best at what we do. This comes through in everything we do. Our clients know we care about them and treat them with respect and courtesy.

How did your brand stand out from the rest of the other brands out there that is similar to your niche?

We have inventory and auction offerings that are unparalleled in the world of vintage comics and art. Our location in midtown Manhattan makes us easily accessible by the client in the area as well as those flying through. We hold 5 Guinness Records and are ambassadors of vintage comic book collecting and investing including selling the first comic for a million dollars, Action Comics 1 (first Superman) and the world-record $3.2 million for another Action Comics 1.

What is the toughest decision you had to make in the last few months?

The toughest decision I had to make was whether or not to move into a new area of collectibles. We decided against it and to focus on what we were doing. I am convinced we made the right decision.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

Looking back, before starting a brand new lease I wish we explored buying a place in Manhattan as the real estate market has exploded.

What have you learned in the process of becoming wealthy that others can learn from?

I’ve learned several things. While money can’t buy you happiness it can make life a little easier in certain respects. I feel very blessed in my life. I do something I am passionate about. I have a great partner and team around me. People love investing in and collecting comics and there passion further fuels my passion.

What new business would you love to start?

I would love to start a restaurant. I grew up in the restaurant business. My father was a restaurateur and chef specializing in Italian food. It is in my blood. I know if I wasn’t in the comic business I’d be in the food business.

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

That is a tough question as I feel so blessed with what I have right now. Back in 1996 I started a comic convention business. I left it quickly do to differences with my partner at the time. Looking back on it, I wish I’d have found a way to make it work as it has become a very lucrative business.

Do you have any favorite business-related or personal development related books that you can recommend to other entrepreneurs?

You should read a lot of them. Some of my favorites are the 1-minute manager, the 4-hour workweek, Who moved my cheese and Tony Robbin’s Unlimited Power CD set. The CD set changed my life.

What is the best advice you have ever been given?

My mother always told me I could do anything I set my mind to. My father always told me that knowledge is power. It’s important to know that my parents came to America from Italy with nothing. My father hardly spoke English and worked his way up from being a dishwasher to pizza man to chef and restaurateur. My mother grew up part of her life in an orphanage. She had a very limited education but the wisdom to know how important it was for me to study. Without the love, guidance, and wisdom they imparted to me, there is no doubt in my mind I wouldn’t be where I am today.

What advice would you give to a newbie Entrepreneur setting up their first business?

Believe in yourself, arm yourself for battle with knowledge and an unyielding thirst to succeed. No matter what obstacles you face, overcome them. I started out competing against other dealers who had much more money and knowledge than I did. I saved my money, learned my craft but early on also utilized something I was good at from growing up in the restaurant business – customer service. My ability to give that little extra to my clients has paid dividends throughout my career.

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If You Want To Be Wealthy, You Should Avoid These 5 Mistakes

Becoming a millionaire seems like the perfect dream for most people. In order to make this dream come true, though, it takes a lot of determination and hard work. Although many of the people dreaming of becoming millionaires will end up settling for less, this does not have to be the case with you. If you are driven by the thirst to succeed, you need to build on solid ground and start making life changes.

However, there are a lot of misinterpretations that can get you off the right course towards success. Some things just are not necessary and in fact can be proven extremely damaging to your goals. How to be rich does not depend on any of the following misconceptions. Read the following points below carefully and find out what you do not need to do:

• Work on conventional niches

This is a safe way towards failure. In other words, you do not want to engage in niches that have been regarded as a traditional money-making business. You cannot expect to get rich any time soon by practicing law or medicine or architecture. These professions require a lot of time, and you slowly build your income, up to a point.

• Assume that just by studying hard will bring in the cash

There is no guarantee that your studies will pay off in the future when it comes to your professional career and money boost. On the contrary, most of the times you will be expected to choose a different professional path, which has nothing to do with what you have studied.

• Depend on luck

Luck is definitely not the main factor that determines if you get rich or not. You should focus on taking advantage of any opportunity coming your way, rather than wait for luck to knock on your door.

• Indulge in scams

Nothing good has ever come long term from scams. Even if you are lured by short-term winnings, you will most likely learn the hard way that such money does not last. So it is not worth risking your career for something with dubious results.

• Maintain a rich social life

Unfortunately, when you set your mind on how to be a millionaire, there is no time to waste. This means that you must be considerate and schedule all your social plans according to your optimal benefits professionally.

Of course, these are just few of the things you ought to avoid on your path to success. You need to set realistic goals and do not let go till you reach them.