10 Reasons Why You Should Not Start Businesses With Friends

 Every business has its own story to tell.

Behind every good start-up idea comes brainstorming with your friends or relatives. To ensure the viability of your business plan,

You often discuss it with your friends and change it according to their reactions. All these discussions lead you to partnership-based business

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Where your friends are willing to invest. Because you are new to the business and need their emotional and financial support, engage them. However,

There are many reasons why you should not start a business with close friends.

1. Problems defining role and authority: In friendship no one is big, no one is small. You are all on the same level but it's not the same. In business, you have to play that role well. The rights you get depend on your role, which may not be the same as yours

Other friends of the same organization. The difference in these levels can create bitterness in your current relationship and automatically worsen your situation of a business decision.

2. Good friends may not always be good business partners: As a business partner, it is easy and attractive to trust a friend because you know everyone.

But the reality is that when it comes to the same business, no matter how compatible you are with others inside and out in terms of attitudes, beliefs, and values.

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Then comes a situation that leads you to the opposite point of view. There can be many conflicting conditions related to development. Create an effective business model or company vision and goals.

3. Lack of Premature Planning: Your friends and you often share this wonderful relationship that won't really be effective in business. You must be Active in emergency disaster management. You need to consider a backup plan for the worst-case scenario.

4. Problems in setting business goals: There is always a struggle to set long-term and short-term goals. you will be forced to concentrate

Long-term goals When your friend wants to prioritize short-term goals. Disagreements will be great when setting these goals.

Can be fatal and have a negative impact on the growth of your business in the long run.

5. A business collapse can sabotage your friendship: Not all startups make it big; most of them only live 1 or 2 years. and when it breaks It happens that not only does your money go down, but it also puts a strain on your relationships with your friends and business associates. Thus the total cost has a great impact on the other participants.

7. You both fight for quality time together: You cannot do this as both of you are involved in business and hold an important position in the enterprise. Often it's time to plan a vacation or go out together. You have to rest at the same time even if you're not going out together

Which is not good for business. Plus your absence can be dangerous for your business.

8. Lack of Required Skills: Every business venture requires specific field-related skills that cannot be brought into your business when the spouse is your friend. This is a good thing to do, and it should end there.

9. Problems while evaluating performance: You can be honest with your friend but it is difficult to be a clear observer of the evaluation of your friend and partner.

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To. Being honest and talking about areas of improvement can strain your relationship and lead to unsolved problems and a negative impact on your business.

10. Successful business but strained relationship: Who says that only unsuccessful business can create problems between partners. success is something

It can blow anyone's senses. Growing the business can lead to problems and conflicts between the owners and friends for the success of the business.

The goal is not to disappoint startups with friends, but to talk about future issues.

SOURCE: BUSINESS WORLD

Are You Trading to Your Strengths?

 In your business, are you playing to your strengths or are you an "opportunity seeker"?

There is a huge difference between the two and if you are only looking for opportunities then you are leaving yourself free to despair and loss.

There are many similarities between trading, trading, and gambling, and your ultimate success, in the long run, will depend on how you interact with any of the three. In all three cases, it's important to play to your strengths.

There is competition in any job and you always want to make sure that you are playing with your strengths and not your weaknesses.

Winning is the goal, that's profit, and you want every profit you can get.

Often, opportunity seekers look for opportunities because they feel they want to make money and feel they can overcome their weaknesses (learn more).

Keeping in mind the similarities between them, let us briefly look at how they apply in each case.

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In business, long-term success is built with the end goal in mind, an idea of ​​what the business will look like as it matures.

This is important because the company needs to take a course that suits its vision during development. It decelerates or derails due to confusion and deviation.

Successful business leaders know when to take a chance and when to say "no". Saying "no" is to consider the company's activities (time investment) where there are competitive advantages and where the company's disadvantages are to be avoided.

In gambling, the gambler will be at the blackjack table and earn money there. He could not jump and did not run across the roulette table because he had heard that there were only 50,000 winners. He knows what is good and goes to another table not to make money, but to have fun.

Investing in a business Undoubtedly, a good real estate investor who knows how to earn 1 million in a year cannot do well in the business. These are very different games.

Just because someone knows how to buy an asset, doesn't mean they have the talent or ability to make money in the futures or forex markets.

Experienced traders should also be reluctant to move from one game to another. Buy and hold position traders should be very careful before going into day-trading and improve their ability to spread the spreads before considering buying (or selling) futures contracts.

Each strategy (or game) is associated with different skills and different emotional needs.

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Another serious consideration is your skill level - position. It has to do with the ability to devote one's time to the business.

If you are new to business or have not yet mastered the skills required to do business, you should seek help.

The business learning curve can be very expensive, and if you don't have the time or plan to become proficient, how can you expect regular profits from it?

If you don't have the skills, energy, and resources needed to become a good trader, you can consider other options available to you.

If you don't have the skills or time to develop it, if you want to take advantage of the good money earned in a business, you can consider a managed account. Why set up a hobbyist business with your own money when you can get a professional one for you?

Anyway, try your best first!!! Ask for a track record and plan ahead.

If you are "starting from scratch" then your next option is to trade with an experienced broker.

That's what they have. Of course, you can find a broker with very low commissions to deal with, but you may get what you pay for. A good broker can look for $50-$100 round turn commission and they will give you their best advice.

In the long run, your situation is likely to improve - if you follow their advice!

Again, ask about their track record and check with the NFA if they have any complaints.

It doesn't matter which broker you are considering, it is well regarded in the trading community.

Many good brokers publish regular articles or advisory columns on reputable websites and established magazines.

In general, if you see that the person has been published for several years, that's a good sign.

Vaiko's and Charlotte travel a lot and are not allowed to stay in the same place until their popularity is maintained.

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If you don't have your strengths, take them from people who have them as you grow.

You really want more than karma to be fruitful in Affiliate Business. And only if you really want to be a trader and do it yourself.

If your real goal is to earn money then play it smart. Use the knowledge and skills of others until you develop yourself.

Of course, if you don't want to take the time to become a full-time or very active trader, but still want to be part of your income portfolio, consider your other options.

If all else fails, get ideas from others.

For business, these forces require discipline, mental control, coaching ability, ability to concentrate, following ability, decision-making ability, understanding possibilities, managing uncertainty, and much more.

There are such countless sorts, it's difficult to say.

Business can be both, but if its characteristics and desires are not taken seriously, it cannot end on both. In any endeavor where money is the end result, enlist the help of a loyal friend. Remember, we have a great guide showing you how to take the right steps and how to avoid them.

Best 5 Tips For Successful Trading

It is the focus of this article to give you direction on what areas to focus your efforts into in order to improve and trade successfully.

In today's market environment there are many people who want to become profitable traders. Many people who come to trade stocks, options, and other securities are fascinated by the ability to make a lot of money, but often I don't know what I need to do to be able to make money consistently. unexpected profit? , and always protect your account from excessive and/or unnecessary losses.

The good news is that there are plenty of resources out there to help you, but the bad news is that most startup traders don't know where to start. The focus of this article is to provide you with guidance on which areas to focus your efforts in order to successfully trade and improve.

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The first step is to focus on learning the language of the industry. Learn what a stop-limit order or "handle" is and how it relates to your business. If you find a word you don't understand, just "Google" and study its meaning. If you know the basics of stock ordering, options interpretation, or how the futures market works, it is very difficult for you to know what an article is saying or what an experienced trader is talking about. Hope to do business.

The second step is to learn how to read price action. Value activity is fundamentally the language of a stock or a given market.  Describes what the stock or market has done and what it is likely to do again. Learn to read trends on charts. Is the stock a long-term bullish trend? Are oil prices in the midst of a bear market? Is there any evidence of a potential trend shift in oil futures from a central bear market to a longer-term bull market? Learn to read Price Action and it will make you rich.

The third means of effective exchanging is figuring out how to control your danger. Almost every successful trader who survives for a long time and makes a lot of money knows how to control their performance in the market. I personally know a professional hedge fund manager who was short of the German mark when the Berlin Wall fell but lived that year to get record returns on his fund. 

Dow futures were long overdue for the same traders when the 9-11 terrorist attacks occurred and returns on the S&P 500 plummeted that year. I personally had a lot of oil and refinery reserves when Hurricane Rita hit Texas, but I still made money because those reserves fell because I knew how to manage my business. Learn to evaluate and control risk and you will increase your chances of becoming a master trader.

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The fourth step is "sideways" when you trade. Business profit is the thing that gives you profit in business. The more edges you have, the better your chances of making a profit. One edge is good to chart reading skills, successful stock selection, money management, etc. It is possible. I know an extremely popular and effective stockbroker who got an 11,000 stock record utilizing the 3 edges I composed and made $48,000,000 in 23 months! He has been interviewed in almost all major financial publications and holds the world record for the highest returns in the shortest amount of time. Study the great traders and you will get a glimpse of the edge they are using to become the trader.

The fifth step is mental discipline and emotional balance. Most business is mental. You can give two traders the same exact trading system for stocks, futures or options, but of course, they will end up with different results. Why? Their mental and emotional state may not support them to be successful with the given arrangement. The trader may experience restlessness and anxiety which causes him to withdraw from the trade too soon, hesitate to take entry signals or make quick profits and miss out on big moves. 

The other trader may have the discipline and control to take every trade as he pays no attention other than following the system as he must know that his losses are part of the game and he must be aware of the system. majority of. In my opinion, learn to use your mental discipline and emotional control to be a successful trader and not act against you.

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These five steps will help you become more efficient and productive. Over time, you can come back and start this lesson with the "Basics" to help you focus on yourself and help you stay on your way to becoming the best trader you can be.

Analyze Basic Financial Information Tips

Here are some financial tips, information that will hopefully help you save money or get out of debt. 

1. Savings 

Pay yourself first. Start depositing 10% of your income into "emergency" savings now. Do not use it for anything other than a real emergency. Keep a "fixed" savings account for annual expenses that you know are coming and that you can make predictions about (such as Christmas, insurance, taxes, etc.). 

In addition, there is a "Buy Goods" account. If you do this, you will be able to avoid many of the financial woes you face and avoid borrowing from lenders with high-interest rates.

2. Borrow 

Do not borrow money unless you are willing and able to repay it. Failure to repay loans on time can lead to serious financial, emotional, and family problems. 

Experts advise that you should not take loans only for essential items or value-added items. Many lenders will give you the money you can't repay, especially with high-interest rates.

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3. Co-signed. 

Do not co-sign until you are ready and able to repay the loan. Often, co-signers repay a loan they are not prepared for and financial difficulties arise. Many co-signers now have negative credit ratings due to late payments by the primary borrower. 

Many lenders do not notify the co-signer's credit bureaus before reporting the delinquency or forfeiture.

4. Compare

Before you decide who to borrow, compare! Find out who's offering the best deals right now - Look for Lowest Rate (APR) loans.

April Annual Percentage Rate (APR). This is the standard rate, so we can compare borrowing costs. This is the cost of credit, expressed as an annual rate. Always leave 13% APR when borrowing (consider "13" to be unlucky when borrowing). Some are illegally reporting other rates, such as weekly or monthly rates. 

Compare APR to APR. If you pay your bills on time, and you don't overpay, you can almost always get a loan or financing arrangement at a rate of less than 13%. Be careful though, because losing 13% doesn't necessarily mean you're getting a good deal. For example, The difference in total interest on a 30-year, 100,000 mortgage loan is $64,283. 11% vs. 8% (assuming that all payments are made as agreed).

5. Consolidation loan 

If the new interest rate is too low and your loan just isn't coming to an end, a consolidated loan, like a consolidated loan, can lead to big savings for borrowers. But be careful, as consolidation loans usually pay lenders more out of your pocket. For example, mortgage loans usually include closing costs. They increase the total debt. Many refinance involve reducing the monthly payment but increasing the repayment period, leading to a significant increase in the total interest payable. 

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Borrowers who have mortgages on unsecured loans (such as credit cards) are at increased risk of losing their homes. Also, remember to continue paying all your bills till the old debt is paid off. Many people have lost their credit rating and their financial condition is bad because they are dependent on money that does not meet their expectations. Expect defers while applying for credits, particularly combination advances. Don't spend money before paying.

6. Disappointment

Don't worry about money. The more frustrated you are, the less likely you are to get a good loan.

Auto Insurance Activate your auto insurance. If you fail to keep your insurance up to date, you will have to pay off the loan for several years after your card expires.

7. Establish good credit

To avoid bad credit, don't borrow too much and pay your bills on time. Inexpensive ways to establish good credit: (1) Get a good credit card. When you charge, pay off the balance each month -- on time -- and pay no interest. (2) Establish a revolving line of credit to protect the overdraft from bounced checks and not use it as a loan. (3) Take a loan to buy a car, furniture, etc., and repay it within a few months.

8. Late fee

Pay early or at least on time to avoid late fees (which increase the cost of borrowing).

Capture for recovery and avoid associated charges, pay early or on time and continue your insurance.

Additional Principal ® Less Interest. To pay a lower interest rate on a loan, pay more than the required minimum. Even a small amount of additional capital can significantly reduce the total amount of interest you pay for a lifetime loan. Before you do, however, make sure your lender accepts additional principal payments and find out what specific procedures you need to follow in order to properly apply your additional principal.

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Two weeks' pay. If you make payments weekly or every other week, bi-weekly repayment is a very convenient (almost painless) way to reduce the term and interest of your loan. For example, if you pay half of your required monthly payment every 14 days (over a two-week period), you make an average of 13,052 payments over the course of a year. If you do not receive bi-weekly payments, or your lender does not prefer bi-weekly payments, you can pay the same amount in monthly installments. If you make 13.05 1/12 of the monthly payment amount, you match the bi-weekly profit (slight rounding difference).

Contrary to popular belief, the two-and-a-half-week repayment frequency does not achieve much, the real benefit being the payment of additional principal (13.05 payments per year or more) that shortens the payment and interest period. If you plan to sign up for a bi-weekly program, consider the cost. Some service providers have high set-up fees and transaction fees. Also, consider the credibility of any company that handles your money, some have pocketed payments, paying lenders twice (one to a corrupt servant, and another directly to the lender).