Eric Tippetts

Automated Income: 8 Ideas To Generate Money For Entrepreneurs

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The wise entrepreneur has various means of income generation. But how do you find the time to manage several businesses?

The key to this is finding systems that make money while you are managing your primary business structure. Call it automated income or passive income, it is simply a system that keeps money rolling into your bank account with little of your time having to be spent in the process.

Some of these methods may require some initial work but after the process is set up, you can sleep, play or work in another area while the income still rolls in.

Here are 8 ideas to generate automated income and how to manage them.

Automated Income Idea #1: Write An Ebook

You surely have skills and talents that other people would want to learn about. Writing a 60-100 page Ebook will take some time but after you have it completed, you can simply market it and watch the royalties roll in.

And if you do not want to spend the time writing the book, you can contract ghostwriters who will do it for a price.

Automated Income Idea #2: Invest In Stocks That Pay Dividends

While it will take an upfront investment and research, there are stocks that pay “healthy” dividends. There is really no work on your part except for the initial research as to what stocks are paying the best dividends.

According to Forbes, the best dividend stocks for 2017 are:

  • Southwest Airlines (LUV)
  • Nike (NKE)
  • Cracker Barrel (CBRL)
  • Prudential Financial (PRU)
  • and Home Depot (HD)

Automated Income Idea #3: Real Estate Crowdfunding

While you may not have the budget to actually invest in multiple real estate ventures or the time to manage them, there are now crowdfunding sites where you can invest in real estate for as low as $1,000.

You do not have to do any managing of the property, just collect the returns for your investment. Returns have averaged from 13 to 15%.

One crowdfunding site used for this is Fundrise.

Automated Income Idea #4: Flip Websites And Domains

While there is some time involved in doing this, many entrepreneurs contract a virtual assistant to handle much of this process.

A person can make a lot of money buying and selling domains and websites.

You may have to put some “bells and whistles” into the website to add value to it, but this is also something you could have a virtual assistant manage.

Automated Income Idea #5: Create Capture Pages

There is a lot of money to be made in selling leads. Just by setting up a capture page that has people provide their contact information, you can turn around and sell those leads to various businesses depending on the types of leads they are:

  • Home improvement
  • Network marketing
  • Book publishing
  • Etc…

Automated Income Idea #6: Sell Stock Photography

Just taking photos whenever you see an interesting subject can earn you a lot of money. The work involves downloading the pictures to a stock photography website and setting a price for your pictures.

They may sell quickly or sit for some time before selling, but it is a great method of making passive income.

Automated Income Idea #7: Affiliate Ads

If you are already blogging in your primary business, why not ad affiliate advertising to that blog? You can make money while you sleep when people click ads and possibly purchase items through those ads.

Many people use Google Adsense but there are a variety of others too.

  • Amazon Associates
  • LinkShare
  • Share-A-Sale
  • Etc…

Automated Income Idea #8: Create A Course

This is another income source that may take some time to get set up but after you have it, it can generate income for years after.

Using one of the various online course creation websites, you can develop a full-fledged course teaching something you are an expert in. You simply create course videos and even workbooks and when people complete the course you can give them a certificate of completion.

All of this can be set up to run on full automatic.

Automated Income Ideas Conclusion

The fact is, as an entrepreneur should be trying to automate any business they are in. It just comes down to creativity.

Do you have any Automated Income Ideas you would share? Please tell us in the comment section below.

You know, I discovered some time ago that people who have a home based network marketing business have recruiting as one of their biggest tasks. Several of us wanted to find a way to automate the recruiting process. We developed a great app to bring automation to the recruiting process as close as possible. Go check out Rocket Recruiting and see for yourself.

I hope these ideas gave you some ideas. Please let me know if they did.

If you have any questions, you can ask them below too. And, will you please share it with your social friends.

Thank you and have a great day.

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eric tippets

Brand Yourself: 12 Tips

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I find that many entrepreneurs are set on branding that huge idea they have. While that is great, what happens when you have another creative idea? You go through that branding process all over. But, if an entrepreneur brands his/her own name, every creative idea they have will fall into the brand they have created in their own name.

You want to brand yourself and from that point, branding your ideas will become much easier. I have discovered this by branding my name that people naturally are drawn to the various products and services I have developed over the years.

Here are 12 tips to brand yourself. By doing so, your future entrepreneur undertakings will be accepted immediately.

Brand Yourself Tip #1: Define Your Goals And Objectives

What is your vision for your entrepreneur journey? What problems do you desire to solve?

To properly brand yourself, you must clearly define your overall goals and objectives to reach those goals.

Maybe you want to help erase obesity, create advanced technology or possibly defeat a disease through natural means. Whatever your biggest goal is, you need to shout it to the world to brand yourself.

Brand Yourself Tip #2: Create A Motto Or Tagline

Your motto or tagline defines you. When people see it, they can understand in a brief way how you can help them solve problems.

My motto is: Ignite Your Earning Power. When people see this motto, they can understand that the Eric Tippetts brand is a means to grow their income.

The key to a motto is to use 2 to 7 words that are attention grabbing and are to the point.

Brand Yourself Tip #3: Create An Elevator Pitch

Otherwise known as a Unique Selling Proposition, and elevator pitch is a quick description of what you do that could be said to a person on a short elevator ride. An example using my brand would be:

I help entrepreneurs and home business owners ignite their earning power with simple tools, valuable content and unstoppable motivation.

A great elevator pitch will entice potential customers to ask for more.

Brand Yourself Tip #4: Be An Expert In Your Niche

You MUST define yourself as an expert in the niche area you are in. When someone asks you a question, you need to find an answer for them as soon as possible.

It may mean taking courses and reading books, but do everything you can to become an expert.

Brand Yourself Tip #5: Identify Your Target Audience

While you want your name to be recognized as a brand to everyone, you do want to identify the primary audience you want to develop your brand with:

  • If you want to rid the world of obesity, your target audience will probably be people who are overweight.
  • If you are creating an app for small business owners, you probably will not be marketing yourself to blue-collar workers.
  • Etc…

Brand Yourself Tip #6: Show Yourself

People want to know that you are not a robot. Show your face; have videos; be a real person.

When people see a smiling face, they will gain more trust.

Brand Yourself Tip #7: Tell Your Story

How did you become an entrepreneur? Where did you grow up? Where did you go to school? What successes have you had and what failures?

People want to hear your story. Even if you may think it is boring or uneventful, a major part of building your brand is telling your story.

Brand Yourself Tip #8: Study Your Competitors

Take a close look at your competitors. Learn how they are branding their names and be unique. Find what works and use it.

Brand Yourself Tip #9: Maintain Your Integrity

No matter where you are and what you do online or offline, you must maintain your integrity to hold your brand high and mighty. Hold high standards for yourself. Be honest at all times. If you cannot solve the person’s problem but you know someone who can, point them in the proper direction.

And always follow through with promises you make.

Brand Yourself Tip #10: Keep The Same Image In Social Media

Be it

  • Facebook
  • Twitter
  • Instagram
  • Google+
  • or any other social media site

maintain the same brand image. Make it easy for people to find you on any of the social media sites.

Also, you should look at what comes up if someone types your name into search engines. It should be full of your brand.

Brand Yourself Tip #11: Educate

You can generate a huge “buzz” about your brand by educating people in areas that are related to your niche. The most common way to do this is by blogging just like I am doing here. But you could also write an eBook or make videos, podcasts or webinars.

Brand Yourself Tip #12: Domain Name

If possible, register your name as a domain name, or use a variation. This is where you can create a blog and even offer your entrepreneur creations for sale.

Make sure your website is SEO friendly so you will be discovered in search engines easily when people search for keywords in the niche you are an expert in.

Conclusion

Easier branding yourself than it is branding every creation you develop. People will discover that you are an expert and as you create new products or services, they will automatically come under your brand.

I consider some of my developments that have fallen under my brand: Eric Tippetts – There is:

And thanks to the brand Eric Tippetts, people are quite aware of these products and others.

If you haven’t checked those products out, please do.

I hope this post helped you understand why branding yourself is so important. If you have any questions, just post them below.

Will you do me a favor? Please hit share below and allow your social media friends to see this too. Thank you…

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eric tippets

10 Red Flags That Will Push Potential Investors Away

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As entrepreneurs, there are times we must search out investors to make our start up actually start up. Or maybe it is started, but struggling. With an influx of cash, you know that you can take the business to a higher level on the ladder of success.

You may have considered bootstrapping, but you need a bigger economical push than the revenues coming in can provide.

Be it friends or family, angel investors or even a bank or lending institution, the wise investors are going to look closely at details. Wise investors know where good and bad odds lie, and there are certain details that can be considered

  • green flags
  • yellow flags
  • and red flags

In today’s post, I am going to give you 10 red flags that will probably drive investors to politely tell you no. I suggest you keep these in mind before attempting to draw in investors.

Red Flag #1: You Have Not Invested

If an entrepreneur has not put money into their own idea, how can they actually expect an investor to take a chance? Wise investors need to know that you are willing to risk your hard-earned money too.

Red Flag #2: Exaggerations Or Omissions

When providing potential investors data, they will dig deep to see if that data is accurate. Intentionally exaggerating or omitting information can be a huge red flag. This tells the investor if you are willing to do so on the first meeting, what will you do further down the road?

Red Flag #3: Guaranteeing Returns

Investing is risky and investors know that. They also know there is no guarantee they will get returns. If an entrepreneur has the gall to say that he/she will guarantee a certain amount of return. Your data may give some clues but you can never promise or guarantee a return on investment.

Red Flag #4: Too Many Founders

Statistics have determined that if a start up has too many founders (5 or more), it normally turns into a fiasco. People will not agree and there is also the fact that each of these people will need to be paid.

If there are a lot of founders, I believe it is wise to draw up a contractual agreement putting one person in charge who makes all final decisions.

Red Flag #5: No Product Diversity

Start ups that offer only 1 product will probably have difficulty obtaining experienced investors. Unless that product is super amazing or the business plan shows the integration of other products, wise investors will probably defer from investing.

Red Flag #6: No Competition

Never tell a potential investor that you have no competition. There is always competition in one form or another. As a matter of fact, before you approach possible investors, you need to research all possible competitors. This will show the investor you are “on the ball.”

Red Flag #7: Founders Have Poor Credit Ratings

If an entrepreneur can show they are able to keep his/her own credit rating in good standing, it impresses most experienced investors. I suggest that before you approach investors, you have the credit ratings of all founders and explanations if any of those ratings have a number below 700.

Red Flag #8: Excessive Debt

Experienced investors know that if an entrepreneur has an extensive amount of debt, he/she will have a very strong temptation to use the investment funds to clear that excessive debt. While you may say you wouldn’t inappropriately use investment funds in that way, too many people before you have. Excessive debt is an immediate red flag.

Red Flag #9: Possible Legal Or Ethical Issues

If the product or service could be on the edge of being unethical or if there is a good chance there could be legal issues, most wise investors will stay clear. Nobody wants to take chances of that type.

Red Flag #10: The Marketing Plan Is Weak

Experienced investors are going to want to know what your marketing plan of action is. If it is weak…If you are relying solely on paid advertising, it could be considered a red flag.

I will say that the flag could possibly be yellow if the entrepreneur is willing to accept marketing advice and follow investors ideas on ways to market.

Final Thoughts

Before you approach investors, make sure you have your “ducks in a row.” Use empathy and consider yourself in the position of the investor… Would you take the risk?

Just be honest and upfront and I believe you will have good odds as long as none of the red flags are prevalent.

With that, I want to suggest you pick up a free copy of the book I put together for home business owners. You can get To The Top – Simple Everyday Steps To Succeed Financially just by clicking here.

Thank you for stopping in today. Will you please share this info with your social media friends? I am sure they will appreciate knowing this too.

Thanks again.

To The Top!

eric tippets

Funding For Your Start Up: Make Sure You Have…

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So you have come up with an amazing idea that you know will be helpful to many people as well as being profitable. But you need funding for your new start up. There are various ways you can seek funding for your start up:

  • Friends and family
  • Banks or lending institutions
  • Crowd funding
  • Angel investors
  • Etc…

But do not neglect considering

Self funding: Many entrepreneurs just use a 2nd mortgage, credit cards or they may even sell assets to gain funding.

Boot strapping: If you can just get started selling your product, revenues that are coming in can be reinvested back into the business to keep growing.

It is my opinion that consulting with a mentor who has been down the road you are traveling is a wise idea.

In seeking funding for your start up, there are various items and documents you will want to have available. That is my priority with today’s post; make sure you have these before you seek outside funding for your start up.

Before Seeking Funding For Your Start Up, You Need A Down Payment

Only a fool would lend to an entrepreneur who is not willing to put some of his/her own money into the risk. If you are approaching a bank, lending institution, angel investor, etc… They will absolutely require that you are putting your hard-earned money in. The normal percentage required is 25% to 50%.

Before Seeking Funding For Your Start Up, You Need A Business Plan

There is a common saying that goes: “Failing to plan is planning to fail.” No matter how you are seeking funding for your start up, you absolutely must have a business plan. And if you are approaching a bank or lending institution, that business plan better be in depth.

Some of the elements that business plan should have:

  • Your business strategy and how you will implement that strategy
  • Market research
  • An analysis of the competition
  • Business expenses
  • Financial projections
  • Short and long-term goals
  • And much more…

I suggest you spend quality time drawing up a comprehensive business plan. It will be a huge factor whether you receive funding or not.

Before Seeking Funding For Your Start Up, You Need Asset Verification

When seeking funding from outside sources, they will want to know the value of assets you hold that could be used as collateral. You cannot just guess at the value of those assets, you need a verification.

Before Seeking Funding For Your Start Up, You Need Your Credit History

If you are seeking a small business loan from a bank, your FICO score should be at least 700 and higher is even better. Some lenders may settle for slightly lesser scores with interest rates being higher.

Even for your own knowledge, you should always know where you stand with your credit scores. And, you have the ability of attaining 1 free verification from each credit bureau annually.

Before Seeking Funding For Your Start Up, You Need To Display Your Experience, Education and Expertise

When you are seeking funding for a start up, most lenders will want to know what you bring to the table with your past experience and education. They want to know that you actually have the wisdom to create a successful business. Would a bank loan a certified plumber the money to open his own barbershop?

Does this mean you need a college degree to start a business?

No! But you do need to be able to show how your past experiences, skills and talents can carry the business you are starting to success.

Before Seeking Funding For Your Start Up, You Need To Have Income and Investment Verification

Having multiple income sources can be quite helpful when seeking funding for your new start up. If you are still working while you get the business rolling, you will want to show lenders that fact. Any other income sources you have are important to list, because that will show you have a method of paying monthly even if sales have been low.

Make sure and consider all sources that could be considered income or investment. Even a retirement fund could count in this.

Investors are willing to loan to the well-prepared

Just approaching a potential lender or investor with an idea but none of the other items I listed above is wasting both your time and their time. Before you approach any potential lender, you want to be well-prepared.

I also like to tell entrepreneurs that you essentially have just the one chance. If you approach the first time being unprepared, when you approach the second time even being completely prepared, that lender is going to remember the first encounter and it could put them in a negative mindset before you begin.

Conclusion

The Boy Scout motto is Be Prepared. Before approaching any potential lender or investor in your start up, I suggest you use that same motto.

Let me just say that one of the most important areas in the journey of an entrepreneur is their finances. Several years ago, some experts and I developed a cost efficient method to control your finances and will help you stay within budgets and also help you find all tax deductions. It is called the Expense Tracker and you can learn more about it and try it here.

Did today’s post give you some insight on how to approach lenders or investors? Please leave your feedback below. If you have any questions, you can post those here too and I will get an answer for you.

I know there are many entrepreneurs who need this information, so will you please share this on your social media channels? Let’s help all entrepreneurs find the path to success!

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eric tippets

5 Tips On Staying Positive In A Negative Environment

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Without getting too philosophical, I must tell you that our universe works on negative and positive forces. One is needed for the other to work much like the battery in a vehicle. I have caught myself asking why we have negatives and I then consider the fact that without negatives, we wouldn’t have positives. Essentially, we would all be similar to robots.

Since the dawn of time, the negative and positive aspect has been studied. We hear of Ying/Yang, Karma and many other methods of people trying to explain the negative and positive forces in the world.

But, I am not writing this post to dive deep into that subject. My goal is to help you understand how to stay positive when you are in a negative environment.

Some people will try to tell you to just stay away from negative environments but is that always possible?

  • A plane, bus or other public transportation
  • A seminar or public venue
  • Even a family reunion
  • Etc…

We cannot always detour around negative environments but we can take active measures that will allow the positive vibes to overcome the negative.

Here are 5 tips on staying positive in a negative atmosphere.

Staying Positive Tip #1: It Isn’t Personal

People with negative mindsets have a tendency to speak words that can cut deep. The important thing to always remember is, they are dealing with their own demons. While it may seem directed at you personally, it probably isn’t deep down. The best way to deal with negative and hurtful words is just smile and let them flow somewhere other than into your brain.

“Positive thinking will let you do everything better than negative thinking will.” Zig Ziglar

Staying Positive Tip #2: Use Positive Responses

I have found that the best response to negative statements is no response at all. But if you must respond, keep it positive. Just be creative and come up with something positive to counter the negative.

But I do want to reiterate, the best response is just a smile. Sometimes, even a positive response to a negative person can be grounds for debate in their form of thought.

“Positive thinking is more than just a tagline. It changes the way we behave. And I firmly believe that when I am positive, it not only makes me better, but it also makes those around me better.” Harvey Mackay

Staying Positive Tip #3: Don’t Engage

Just to use the example of being on an airliner and having Negative Norman sit in the seat next to me. It is usually easy to spot a negative soul immediately and they may speak to me and I will nod, smile and may give a positive response as I am pulling out my laptop or a book. This will show the person you are not going to play into their negative atmosphere.

“An attitude of positive expectation is the mark of the superior personality.” Brian Tracy

Staying Positive Tip #4: Keep Positive Affirmations All Around You

Have a positive image on your laptop home screen, a positive statement on the outside of your daily planner; just have positive affirmations on everything you use on a regular basis.

I just mentioned the plane trip… What would occur if you pull out a book like The Power Of Positive Thinking in front of Negative Norman?

“There is little difference in people, but that little difference makes a big difference. The little difference is attitude. The big difference is whether it is positive or negative.” W. Clement Stone

Staying Positive Tip #5: Learn And Grow From The Experience

Most generally, when people are speaking negatives it is about one or more problems. As an entrepreneur, your expertise is solving problems. So use the experience to learn and grow… Use what you hear to gain ideas for your next endeavor.

“The next time you feel slightly uncomfortable with the pressure in your life, remember no pressure, no diamonds. Pressure is a part of success.” Eric Thomas

There Is Power In Positive Words!

This video I made some time back goes hand in hand with this post, so I felt I should post it here to give you some insight in the power of positive words.

Conclusion

If you are able to stay clear of negative environments, I suggest that should be your first option. But there are those moments in time when we will be surrounded by negatives. But the positive within you can overcome any negative forces.

To gain more motivation, I suggest you get the free training course I am offering – 7 Days To Unstoppable Motivation. You can get started with it now right here.

Thank you for popping in today and may your life and business take you

To The Top!

eric tippets

Is The Customer Or Client Always Right?

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A Close Look At This Longstanding Debate

“Right or wrong, the customer is always right.” Marshall Field

If you are to “Google” the term The Customer Is Always Right you will discover people on each side of this debate.

The slogan was used in the late 1800’s into the early 1900’s and generally associated with Marshall Field who was an entrepreneur and founded Marshall Field and Company which was a Chicago department store chain.

While Marshall’s slogan drew many customers, in time there was strong displeasure with this slogan because customers realized they could take advantage of this slogan by using or wearing purchased items and after misuse, take it back and get refunds or another item.

The Other Side Of The Equation

While the issue of customers taking advantage, the other side of the coin has some businesses taking advantages of the customer.

Customers and clients have the ability to boycott and post negative reviews on businesses. People such as Marshall Field understood this and created this system to stay in “good graces” with clientele.

So I am going to show both sides of the coin and at the end of this post, I will offer my opinion on how we should treat this issue.

Some Reasons The Customer Is Not Always Right

These are some reasons that many business owners stand by in their belief that the customer or client is not always right:

  • If you say the customer is always right, you are often saying an employee is wrong. When you use the customer is always right strategy, you can create animosity within employees. After all, by saying the customer is right, you are often saying the employee is wrong.
  • There are some customers a business really doesn’t need. Some customers or clients take such huge advantages of the “I am right” system, they are actually costing the business large amounts of money.
  • The customer is normally not an expert. Let’s face it, many customers may pretend they are an expert in the area of the item or service they are purchasing, but in 98% of the cases, they have no clue. And actual experts usually will not be problem customers.
  • You will have poor customer service. If your customer service always knows you will side with the customer, the service will be worse. It is inevitable.

Some Reasons The Customer Is Always Right

And that other side of the fence says:

  • You don’t have a business if you don’t have customers. Many advocates of the customer is always right strategy claim that even when a few take advantage, the majority won’t and overall you gain more revenues.
  • One upset customer can cause utter chaos to a business structure. Recently, a gentleman was pulled brutally off a certain airline flight. Videos have went viral and it has cost that airline revenues and reputation.

Is The Customer Or Client Always Right?

I believe in a “middle of the road” approach. It all comes down to proper judgment. There are going to be those moments when the client or customer is right and other times when the entrepreneur or business is right.

To be perfectly honest, it amazes me that this comes down to a debate.

There will be mistakes made by businesses and there will be customers or clients who attempt to manipulate the system. Training is the answer. Putting the proper people in customer service positions is the key. These people need to be able to make solid judgment calls and use a polite method even when they have to go against the customer’s wishes.

Here are a few good tips:

  • Have a written customer service policy that covers everything.
  • Have a system that supports customer service. If there is a question, the person needs to have the means of getting an answer fast.
  • Learn from customers…their needs and the issues they have had. Keep changing for the better.
  • Learn that the majority of customers just want to be attended to and to be treated as individuals.

You may want to read these too:

  1. Closing The Sale: 8 Of My Best Tips, Tricks And Techniques
  2. 9 Ways To Impress Clients

Treat Customers With Respect But Be Solid With Your Convictions

There is an old statement that says respect demands respect. In this case, I believe that even if a customer is disrespecting you, you still must respect them. But respect does not mean just giving the customer or client what they want every time. It really is a simple process but too many people make it difficult.

If you even assume that your business made a mistake, make it right. If you know that your business has provided everything the customer paid for and you know deep down that they are just trying to get more for free; the answer is sorry, but no!

Yes, you may lose that customer but did you really need that customer?

The whole process just comes down to 2 simple words… Common Sense.

Conclusion

I hope that this post gave you some insight. Again I will say, if you even have an inkling of thought that the customer is right, make it right to them. It is that easy.

And, be sure and follow up with the customer to make sure you solved the problem.

So do you have any examples of a time when deciding if the customer was right was difficult? Please share your stories below and I will attempt to explain how I would cover the situation.

For you entrepreneurs who have a home business, we have a kit that will help you gain the success you desire. Check out the Home Business Success Kit here.

Thank you for stopping in today. Please share this important post on your social media. Help others understand the importance of customer service.

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eric tippets

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