Blog

3 Proven Ways to Earn a High Income – Which one is Best?

Money & Wealth

-

July 30, 2022

High Income – Financial Freedom gives you financial confidence. Financial freedom is the dream it is the ultimate status of having enough income so that you can live your life with financial confidence. You can do whatever you want to do. You can buy whatever you want to buy for the rest of your life without having to be employed or dependent on others. One of the ways to achieve financial freedom is via High Income.

There are three different ways to earn a high-income High-Income Job, a High-Income Profession, and High-Income Skills. What’s the difference?

3 Proven Ways to Earn a High-Income

#1 High-Income Job

A high-income job is company-dependent. The perfect example is climbing up the corporate ladder. You work hard and eventually move up to middle management or executive position. You’re able to make a decent income every month & you can become financially free.

However, there is one catch—what if your boss decides to fire you? Would you be able to take that same income to another company? Possibly, but it’s not guaranteed.

Would the position and status you had in one company be transferred over to the next? Again, possible—but not guaranteed. What if the company decides to implement “corporate restructuring”? What would you do then? Would your company knowledge be transferable to your job?

When you are at a high-income job, your income is determined by the top bosses of the company. They could demote you, fire you, or promote you, but it’s mostly outside of your control unless you know how to play dirty politics and move ahead in life.

10 High Income Skills that can make you Rich

#2 High-Income Profession

A high-income profession is another way to make a high income and gain financial freedom gradually. However, the high-income profession is industry-dependent. This profession is usually credentials based, meaning the more degrees you have in front of or behind your name, the more you get paid.

Examples of high-income professions are doctors, lawyers, accountants, realtors, and dentists who study and work hard for six to eight years to get their education and degree. However, the pitfall of having a high-income profession is in its definition—it’s industry-dependent.

In case the industry is facing a downturn you may not make a high income. Let’s say you are realtors and suddenly the market starts going into a downturn due to the economy, what do you do? You’re as good of a Realtor as before, but what changed? Nothing—except the market and the economy. None of which are within your control.

Not only that most of the professions are location-dependent like doctors, dentists, and relators operating locally. Let’s face it, if you’re a dentist, not many people are going to drive 10 km to see you, no matter how good you are.

So, the third way is important & it is completely in your control that is High-income skills.

#3 High Income Skills

High-Income Skills are limitless. A High-Income Skill gives you the most freedom because what you are worth is only capped by how much value you can bring to the marketplace.

It is not company-dependent because you can go to another client who will want your service. It is not industry-dependent because a High-Income Skill works across all industries. It’s not location-dependent because a High-Income Skill does not require your physical presence as long as you can deliver value to your customers. With the advancements in technology, it’s easier than ever to work from home, in a coffee shop, or anywhere you’d like. Once you acquire your High-Income Skills, you’ll be able to start living your life with real financial freedom.

So, it is important that you start learning and developing high-income skills if you don’t have any.

Remember- Jobs get you nowhere, profession gets you somewhere, skill gets you everywhere.

How To Improve Your Sales? How to Increase Business?

Investment

Shitanshu Kapadia

-

July 27, 2022

0

How To Improve Your Sales? How to increase business? These questions are bugging businessmen most of the time.

If you don’t have a proven process to sell then you don’t have a proven process to scale.

Today I’m gonna give you some tips, and five steps, on how to improve your sales process and increase business.

So, when it comes to the sales process, see most companies don’t have a very clearly defined process –

How money is made?
How cash is flowing?
How do you improve the sales process?

So today let me give you a simple blueprint.

First of all, you have to understand when it comes to the sales process, there are five steps.

You have the sales process as well as the buyer journey. So you have the process coming from the company. The seller, the closer’s perspective.

You also have to understand from the consumer’s, and buyer’s perspectives.

What is the journey that they go through? So let’s talk about this in detail.

5 Steps of the Sales Process

#1 Prospecting or Lead Generation

Now it depends on what you do. Maybe the way that you generate leads right now is by cold calling, is by prospecting, going out there, and bringing people in.

That’s perfectly fine or you’re living more sophisticated.

You have a marketing campaign. You have some marketing in place to bring in people, that’s more lead generation.

You’re adding value to the marketplace.

Maybe you’re doing content marketing.
Maybe you are doing blogs.
Maybe you are running ads.

Whatever it is that you do, it doesn’t matter it is prospecting/lead generation.

Now from the buyer’s Journey perspective then what you’re doing is you’re trying to get some awareness.

The buyer, the potential customer, they don’t know that you exist yet.

You want to use this step to just make them aware that you even exist.

Basically saying hey, look at me I’m here, pay attention to me, right?

That’s the awareness. You just want to get some awareness.

The next step in the sales process is called qualifying the leads.

#2 Qualifying the Leads

Now how do you qualify the leads? You want to qualify the prospect in terms of four things

Needs
Time
Money
Decision maker

Needs, how strong are their needs?

Time, how urgent is this problem?

Do they have to solve this problem right now or maybe months from now?

Money, are they able to buy?
Do they have the resources?
Do they have the budget?

Can they make that decision or if they talk to somebody else?

Those four things. That’s how you qualify the leads.

From the buyer’s journey perspective you have what I call engagement.

They’re just engaging with your product, service company, your organization.

They want to find out a little bit more. So before they don’t know you now they’re aware, now they’re taking the first initial step and saying hey you know what?

Maybe I’m requesting a little bit more info. Right?

Maybe I’m reading a little bit more. I’m just doing the next step to engage, that’s engagement.

#3 Demonstrating Value

Step number three, and that is demonstrating value. Now how do you demonstrate value?

Maybe it is to walk them through how your software works. Give them a demo. Maybe it is to invite them to attend a virtual training, a webinar of some sort.

Maybe it’s to invite them to a live event. However, it is that you want to do it, but it is to demonstrate value.

It is to present what can you do for the prospects? Now from the buyer’s journey perspective now from awareness, to engagement, now we are going to interest.

Now I’m not just engaging. I’m actually interested in your product or service. You have to understand what the buyer is going through if you want to close them.

Three Powerful Sales Secrets – Sell Anything to Anyone

#4 Negotiate and Close

Step number four is to negotiate and close.

Now you’re gonna close the deal.

What are the terms?
What about payment?
What about financing?
What about how long you’re gonna provide the service?

Now you’re negotiating back and forth. Not proposal. We’re now talking about agreement. How to close that sale.

What are the expectations? How to establish those expectations.

From the buyer’s journey, from interest no it’s commitment. Now it’s saying yes. We’re moving forward.

Here’s exactly how we’re gonna do business.

#5 Delivery & Fulfillment

So, now you’ve closed the sale. You’ve qualified the leads.

How are you gonna deliver the outcome that you promised to the prospect?

What are the deliverables?
What are you gonna do?

Because this is where you get the referrals. This is how you get the repeat business.

See most organizations, only focus on the first couple of steps. Or maybe step number four. Just wanna close. The sale doesn’t stop after you close. The sale starts after you close the prospect.

And then from the Buyer’s Journey perspective that is what I call experience. That’s the last step.

What is the experience you’re providing for the buyer, for your client?

This is extremely critical because you’ve done all this work during the sales process.

So how do you improve your sales process?

Let me give you some practical examples.

Let’s take an internet marketing business model.

So let’s say you are running ads on Facebook, or Instagram or any social media platform and you are trying to get attention.

Hey, click on my ad, here is what I can do for you.

What are you doing? Step number one.

Lead generation.

You’re trying to generate some leads. You’re trying to get some awareness in the marketplace.

Hey, pay attention to me.

Click on this ad.

Now the minute the buyer, the potential customer, click on the ad, now they go to step number two.

Which is what?

Engagement. So then you land on your landing page when they land on your landing page now they can see what can you do, what is the promise what are you giving away?

Maybe you’re giving away something for free.

Maybe it is a free book.
Maybe it’s an invitation.
Maybe it’s a free webinar.
Maybe it’s a lead magnet.
Maybe it’s a free E-book

Whatever it might be, it doesn’t matter. You’re qualifying the leads.

Then the next step is you want to demonstrate value. Hypothetically let’s say you are inviting them to a free webinar.

In that webinar, you are demonstrating what can you do. You are giving them social proof. You’re explaining what is it like to do business with your company?

And here you go from now engagement, to interest. If they sit through the entire presentation or the entire webinar, guess what?

They are interested. Then from there, the next step is to go from demonstrated value to now, negotiate and close.

So let’s say at the end of your webinar your call to action is to book a call with one of your closers.

So then you’ll close, again find out about the prospects’ needs and close them on the phone.

So there from the Buyer’s Journey perspective, you go from now interest to what?

Commitment. That’s correct. Now they’re committed. Now they want to buy. The last step.

Don’t forget, now is delivery and fulfillment. And from the Buyer’s Journey now it’s experience.

What is the experience like working with your company?
What is the experience like buying from you?

Even if you look at this you think about even in dating, this applies, right?

From the very beginning let’s say you go to somewhere let’s say you go to a pub, right?

You got to a bar, which I don’t recommend, but let’s say you go there, you are trying to get some awareness.

You’re trying to talk to some people right? And then you want to buy a lady a drink that’s from lead generation, now you’re trying to qualify the leads. Are they allowing you to buy the drink? And from there you’re having conversations, right? You’re demonstrating your value. You’re trying to get that phone number. And when you get that number that phone number you follow up and maybe you set up the first date, the second date. You’re trying to seal the deal and close the sale and after you guys are together what is that experience like? How are you delivering right? How is the fulfillment?

It is the same process. So when you look at your sales process I want you to ask yourself, all of these five steps, also from the buyer’s perspective which area can you improve?

Maybe you are doing phenomenal in lead generation.

But you’re not doing so well in terms of demonstrating value.

Then maybe your presentation needs tweaking.

How can you improve your closing ratio?

Your conversion rate?

Or maybe you have a fantastic conversion mechanism, that your presentation, you know what? Every single person who is a qualified prospect who sees my presentation? I can close two out of 10. I can close three out of 10.

Fantastic.

It means that you need to go back to lead generation.

How can you generate more leads, so that more people will see your presentation? Or maybe step one through four you are phenomenal.

You’ve got that just dialed in. But guess what?

You neglected fulfillment. After people buy from you, you neglect them.

You don’t deliver on what you promised and then there is no repeat business.

There is no referral for your company. That’s it.

That’s exactly how you improve your sales process and increase your business.

How to get success in Sales?

Skills & Productivity

Shitanshu Kapadia

-

July 22, 2022

0

How you can get success in sales? Well, many people are asking me this question. So, today let me share with you a simple, yet effective way to get success in sales.

How do succeed in sales? You see, when it comes to sales success, it has very little to do with positive thinking.

What you want, is a positive outcome. You cannot go to the bank and deposit positive thinking or your optimism. What you want is that commission check. So let me share with you my experience to get success in sales.

How to get success in sales?

You see, most salespeople, believe in this nonsense that if they just think positively, nothing bad would happen to them.

That if they go into a sales meeting, they get on a sales call, and they are positive and everything will be fine.

Well, it’s like believing the idea if you are positive, and you go into a boxing ring, without preparation, you won’t get knocked out.

It’s as stupid as that. You see when it comes to closing, when it comes to sales, I don’t believe in positive thinking.

I believe in the positive power of negative preparation. What it means is I want to think of that as like a chess game, that when you’re going to play a chess game, what differentiates an amateur chess player versus a master chess player is what?

The master chess player knows steps ahead. That’s what makes that person a master chess player.

What you wanna do as a closer, as salesperson is go into every single situation, every single sales conversation, be well prepared, so you know every single objection that your prospect might have and you’ll know exactly how to handle it.

And that’s how you get confidence. You see, the lack of confidence comes from a lack of preparation.

3 Mandatory Sales Skills to Close the Deal

What you wanna do is you wanna practice. You wanna practice and role play until you’re sick and tired of it. And then guess what, you practice some more. And that’s what I do.

You have to prepare yourself. I am shocked by walking into different stores, right, different sales conversations, dealing with so-called sales professionals, and how unprepared they are.

They do not ask the right questions, they don’t know how to find out about my needs, my pain points, they don’t know my hot buttons, and they don’t know anything about me.

They haven’t even done their due diligence. They haven’t done their research, learning more about the prospect.

It is ridiculous. So when I go in, I want to be well prepared.

This means, I want to have a plan and the plan is this. A script. Some sort of script that I rehearse ahead of time, going into a conversation.

That I’m ready, I am prepared. Now you may be thinking, but Shitanshu, if I used a script, won’t I sound like a robot?

Won’t I sound, too mechanical? I’m not talking about those telemarketers where, you know, they call you and you’re saying, like –

“Hey sir, how are you today?
“Would you like to buy it?”

That’s not what I’m talking about. That is using a script all wrong. What a script is designed to do, is give you a game plan.

Just like going to a fight, you study the opponent ahead of time, right?

You know what moves they’re gonna make. And you prepare yourself.

You know what, that person, he is a very strong kicker. Well, let’s be ready on how to counter that.

That person’s a very strong puncher. Well, let’s deal with that.

Let’s be well prepared. Another thing you wanna do is, you wanna have an objection handling script, meaning that you have every single possible objection that the prospect could throw at you, and you’re well prepared.

You know, okay, they’re gonna have the price objection, got it. You know they’re gonna have the budget objection.

You know what got it, I know how to handle that. They’re gonna throw at you the, I wanna think about it.

You know what, I know how to handle that. They’re gonna throw at you, well, but your competitors charge a lower price.

Guess what, no problem, I know how to handle that. You are well prepared. When you equip yourself with something like this, and you go into a sale scenario, you’re not relying on positive thinking and hope that you’ll get the sale, and hope that the prospect likes you, and hope that you will walk away with an agreement, with a deal.

No, you know going in, that’s what’s gonna happen. You’re walking in with confidence and clarity.

It’s not about relying on hope or luck. Oh, today, you get lucky and a good prospect will walk through the door. No.

You know exactly what is gonna happen, and you know what the outcome is gonna be. So, get yourself ready.

In the next post, I will share the process to improve your sales and increase your business. So, stay tuned and subscribe to my blog for the upcoming updates.

Financial Tips for the Beginners in Business

Start Business

Shitanshu Kapadia

-

July 21, 2022

0

A sound financial strategy is the backbone of a successful business. You can have a great product and an amazing business idea, but the lack of an effective financial strategy will make it all fall flat. Thus, one of the first steps in starting a successful venture is to have the finances sorted. You need to plan how you are going to handle the finances now and then onward, going ahead in the future. Here are some ideas on effective financial strategies for businesses that will help you get started.

Financial Tips for the Beginners in Business

#1 Figure out the long and short term financial goals

The most important thing to remember is never to mix up your personal and business finances. There are so many costs to take care of when you start a business that your business needs tend to spill over to personal finances before you know it.

So, taking the step of setting a financial strategy for your business is to keep the long and short-term financial goals in mind. Beware of the times when your business goals might end up interfering with your personal goals. You need a solid strategy to help you maintain the balance between different financial goals in your life.

#2 Hire the right people to look into your business finances

The importance of the right talent to manage varied aspects of a business can never be overstated, especially when it comes to handling your accounts. If you have no prior experience in dealing with business accounts, then hand over the responsibility to someone who knows. You might not choose to hire someone straight away. In that case, outsource the responsibility to a reliable accountancy company.

#3 Understand the tax laws and manage your taxes

Filing and paying your taxes is a long process, which needs a clear understanding of the New Income Tax Slab. There are finer nuances to the tax laws that can either help you save big or make you land in big trouble. The legal status of your company is also a determinant of the kind and amount of taxes you will have to pay. You might also consider getting professional help from tax advisors to know more about how much money you can actually save even while paying your taxes.

#4 Consider different kinds of financing alternatives

The ability of the owner to secure enough funds is what the success of a venture depends on. This funding can come from the sale of your property or your personal savings. You can even consider borrowing from your friends or approaching your bank.

The important thing is to figure out how much money you need and the most convenient option for you to get it. You can obtain a portion of the money from bank loans while getting the rest from your savings or other financial institutions.

#5 Commerical Place for Business

Navigating a commercial real estate closing is a pivotal step for beginners in the world of business investment. This crucial process involves the finalization of the purchase or lease of commercial properties, such as office spaces, warehouses, or retail storefronts. To ensure a smooth closing, it’s imperative to conduct thorough due diligence, assessing the property’s condition, market trends, and potential risks.

For many new business owners, renting commercial space can be a more financially viable option than purchasing, as it requires lower upfront costs and provides flexibility while the business grows. Exploring options like a Modesto warehouse for rent for example, can help entrepreneurs secure the necessary infrastructure without the long-term financial commitment of ownership, allowing them to allocate funds toward other critical aspects of their business.

Additionally, beginners should seek the guidance of experienced real estate professionals or legal experts who can help them navigate the complex paperwork and contractual obligations involved in a commercial real estate transaction. By mastering the art of commercial real estate closings, novice investors can unlock opportunities for wealth accumulation and long-term financial success in the business world.

Hopefully, you have reached more clarity about setting a financial strategy for your business. It is time to put all the advice given above into action and create a solid financial plan that works for your business.

Conclusion

Managing business finances doesn’t have to be overwhelming. With a solid plan, discipline, and smart financial habits, you can build a thriving and profitable business. Start small, stay consistent, and remember—financial health is the foundation of long-term success. Now, go make those smart money moves!

FAQs

1. What’s the best way to fund a startup?

It depends on your business model. Bootstrapping, small business loans, grants, and crowdfunding are popular options.

2. How much should I save for emergencies?

Aim for 3-6 months’ worth of operating expenses in an emergency fund.

3. What’s the biggest financial mistake new businesses make?

Failing to track expenses and not understanding cash flow management.

4. Do I need an accountant if I’m just starting?

It’s highly recommended, even if only for tax planning and compliance.

5. Should I take out a business loan?

Only if you have a clear repayment plan and a strong reason for borrowing.

6. What’s the best way to price my products or services?

Consider all costs, competitor pricing, and the value you provide to customers.

7. How can I cut business costs without affecting quality?

Eliminate unnecessary expenses, use free tools, and outsource when possible.

8. How do I improve cash flow?

Invoice promptly, encourage early payments, and negotiate better terms with vendors.

9. What’s the best accounting software for small businesses?

QuickBooks, FreshBooks, and Xero are great options for beginners.

10. How can I build business credit fast?

Open a business credit card, pay bills on time, and establish a credit history with vendors.