Get Altitude on Your Business – Amazing Insights From a Seven Figure Earner!

Eben Pagan is a very smart online marketer and he went from making $0 to $5000 in just one year. I agree with you that today, it’s not a lot of money, but when you know that five years later, he was earning 25 million dollars per year, you know that he is on something.

There are no doubts that this is an amazing growth, and I will give you a couple of tips that you can use to grow your own business. I am not saying that you will get the same results, but you can use his principles to make more money online, and get more free time. How to get altitude on your business, work less and make more money?

1. Work Less
The first thing you need to do is working less. Most entrepreneurs work seven days a week, and they don’t know that it’s not good for themselves and not good for business. You really need to get out of the grey zone and take care of yourself.

2. Work on your strengths
I learned a lot from Eben Pagan, and outsourcing is one of the best techniques I learned from him. You can use websites like guru.com to find other people who can help you run your business at incredibly low rates.

3. Work with a successful mentor
Every successful people of this planet has a mentor. He will keep you accountable and keep you on track until you become successful.

Many people choose to skip this step for financial reason, but they don’t know that doing this will slow down their company.

Using LinkedIn for Business

Social media has changed the world of marketing and become a force to be reckoned with during the past few years. But it’s more than just a social affair. The social media has given individual and businesses amazing options in terms of how we create, connect and share what we have online, particularly with a niche social network like LinkedIn.

Social Networking

It’s important to understand how social networking works, particularly for those in business.

In its simplest form, social networking involves forming substantiating online social networks for communities of people who share common interests and activities. Sites like LinkedIn allow users to create personal profiles and then interact using these connections, sharing media, sending messages and blogging. Most importantly, social network enable you – and your business – to extend way beyond your personal network.

Used correctly, social networking can be an incredibly powerful tool in your business operation.

The LinkedIn Concept

LInkedIn is a network that has been established specifically for the use of professional people and businesses. And again, relating to the very basic form, it is a social networking system that enables members to not only connect with other people doing related jobs and business, but to also recommend people and businesses to other members of LinkedIn.

It can be HUGE!

Just a few months ago, in February 2013, LinkedIn announced that Hewlett-Packard (HP) had hit the 1-million mark in terms of people following them – making them the first company to achieve this milestone. This didn’t just happen. HP has, for years, considered LinkedIn as a “critical” link to their customers; and they use the network to reach and build relationships with their community of customers, as well as prospective employees and partners. No doubt they are well aware of the fact that Sir Richard Branson reaped 1-million followers on LinkedIn a very long time ago!

According to Natalie Malazenko, VP of HP’s digital marketing division, the reason their achievement is “critical” is because these million followers in turn link to more than 43-million individuals who are on the LinkedIn network. So it is enabling the company to access an enormous database of potential clients.

Of course like all social media networks, the LinkedIn concept has evolved and developed over time. One of the most notable changes was introduced in 2010, allowing members to “follow” various companies. This is similar to Twitter, but is has a different impact.

In 2012 LinkedIn introduced a “follow company” option that can be embedded on web pages, and which makes it easier for people looking for jobs, and companies looking to hire, to connect.

There is no doubt that using LinkedIn for business will help you to leverage the playing field and compete very successfully in your own area of business expertise. It is also an amazing tool that you can use to grow your business.

The Adventures of the Amazing R and Taxguy-Clueless American!

The holiday season is here once again and two very hard working super heroes are busy with the task at hand. As another year comes to a close, our financial super heroes are engaged with tax planning for their clients.

Tax guy: my goodness Amazing, I am grateful for the opportunity to serve those Americans that are up to speed with their financial matters.

AR: Right you are Tax Guy. It is indeed a privilege. My hope is that more and more people, not just in America, become more involved in financial, business, and tax matters.

Just then, the phone rings. JC Minyon (Tax guy) answers the phone. It is Innocent Spouse and she is quite excited (as women are apt to get). She is frantic that her husband, Clueless American, is making a big financial mistake. Clueless owns a small business that he started at the beginning of the year. He has done zero financial and tax planning and Innocent Spouse is afraid of what consequences might face them.

Innocent Spouse: Oh help us mighty Tax guy! I am afraid that our financial and tax situation will be out of control!

Tax guy: Fear not dear lady. Do try to calm yourself as the Amazing R and I are on the way to look over your situation.

Tax guy changes into his blue uniform, red cape, with a white TG posted upon his chest, He flies to the rescue of our financially distressed couple. The Amazing R is clad dapperly (as always) in his black tuxedo with red bowtie and cumber bun. The Amazing R takes to his stretch limousine driven by Bob.

Tax guy: (crashing through the window) I am here Innocent Spouse, Where is Clueless American?

Innocent Spouse: He is looking for his numbers oh great financial warrior.

AR: (cool and collected entering calmly through the front door) Fear not dear lady, we will be able to provide you with practical advice you can put in motion immediately.

Clueless American: Oh great financial heroes! I am grateful for your attention to our situation. Innocent Spouse does get quite excited over many situations.

AR: (in a chastising tone) I am sure this is true inattentive citizen. In this case however, she is right to raise concern. It is the duty of every American Citizen to understand at least the basics regarding financial matters. It is each American’s duty to ask questions when they are in need of help.

Tax guy: Well said Amazing. You are indeed a leader for all (Begins looking through the information that Clueless American has turned over).

Innocent Spouse: Oh thank you Amazing Ron. I will forever be in your debt.

AR: (to Tax guy) what have you found oh loyal side kick and knower of all tax laws?

Tax guy: Clueless American’s business has netted $30,000 in profit for the year. He has not made any estimated tax payments He will owe both income tax and self-employment tax on this number unless… unless he purchases equipment before the year end.

AR: (to Clueless American) how about this then? Is there a need for purchasing equipment?

Clueless American: Yes, I do in fact need some equipment and have already secured financing to make the purchase. The equipment will cost $35,000. Should I purchase it this year? I am expecting larger profits next year and will be in more need of deductions.

Tax guy: Based on the circumstances, it does make sense to put the equipment in service during the current year. Under Internal Revenue Code 179, a taxpayer can expense up to $250,000 of fixed assets placed in service during 2008 (returning to $125,000 after 2008). The 179 expense deduction can not be taken if there is a loss and it can not create a loss.

AR: (to Innocent Spouse) to you have income dear lady?

Innocent Spouse: Yes, I have W-2 wages from my employer.

Tax guy: Excellent question Amazing R! We can then take 179 against the $30,000 in profit from Clueless American’s business, and can use Innocent Spouse’s income thus allowing us to take the entire equipment purchase into expense.

AR: That’s right Tax guy. Not only will we eliminate the exposure to income tax from the business activity of Clueless, but we will eliminate the exposure to self-employment tax and even create an additional deduction against Innocent Spouse’s income. For the following year, when income is expected to be higher, Clueless American can implement a retirement plan best suited to meet the needs of his business. This will require keeping a watchful eye on the business and making plans through out the year.

Tax guy: We will not be able to eliminate all of the income for state purposes as Clueless’ state decouples from the federal provisions for 179 expensing. The difference will be immaterial and Clueless could make an estimated tax payment to the state by year end, in order to get a federal deduction. This is true because Clueless American and Innocent Spouse are not in the alternative minimum tax.

AR: That’s right Tax guy. I am glad you are on my team.

Innocent Spouse: Thank you both for the excellent advice. You really saved us this time!

Clueless American: I will never ignore my financial situation again. I will do what ever I can to educate myself and I will indeed stay informed regarding my business’ activities.

Tax guy hugs Innocent Souse and Clueless American. He then flies back through the broken window reminding the couple they might be eligible to claim the broken window as a casualty and theft loss on their itemized deductions form.

Amazing R bows gracefully from the waste and exits gracefully to the front door and into his stretch limo.

AR: (to Bob) another Clueless American is saved from a financial plight. Let us away to the office to ready ourselves for the next battle.