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One ton skills

The main reason most entrepreneurs fail is because they don’t adhere to the One Ton Rule, they have little to no experience with the two most important skills needed to run a successful business. If you have both one ton skills you will be able to run a prospering business.

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How do habits work?

Psychologists know there is a certain structure that all habits follow. There are many models out there but the most popular is the habit loop model.

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5 Habits successful people have

#1: Morning routines

A lot of successful people wake up early and have a set of activities that jumpstart their day and puts them in a productive mode. A good way to start building a morning routine is to start small; have one or two things you do which will help you to build a habit. A major reason many people fail at building a successful morning routine is because they try to build a whole new routine. They end up less likely to stick to their routine as it is simply too big of a change. Slowly adding new activities to your morning routine will make it much more sustainable in the long run.

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7 Things poor people do (that the rich do not)

#1: Consuming and creating

The average person that is not rich spends their time working to pay for things other people created. They dedicate very little time to creating something others will consume. The rich, on the other hand, spend the majority of their time creating products that others will consume. For example, entrepreneurs spend their time creating products and services or solutions for others. The poor have a consumer mentality whilst the rich have a creator mentality.

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6 Money mistakes you should avoid

#1: The hope strategy

A big mistake people make is to use hope as a financial strategy. Many people justify their spending habits by believing that one day they will make a lot of money and all their financial problems will go away. Though this might sound silly it is a very real thing for many people. This is especially true for new entrepreneurs, they see other people getting rich and they think if they build a similar business they will also become rich. This leads to them spending money as if they were already rich and can lead to them having no money or ending up in debt.

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The seven financial sins

#1: Not planning your finances

Most people get their pay-check and start paying their expenses and hope they have enough money left at the end of the month. By planning your savings, your living expenses and your spendings ahead of time you will have more control of your finances and can avoid overspending. Most people do not have a clear idea where their money is going and in many cases overestimate how much they actually have.

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The 7 types of income

It is said that the average millionaire has 7 streams of income whilst the average person has 1. Having only one source of income, typically a job, can make you financially vulnerable. By diversifying your income streams you can minimise any financial risk.

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When is a house an asset or a liability?

There has been confusion and debate on whether a house is an asset or a liability. The reality is that a house can be an either depending on what you do with it. The confusion has mainly stemmed from the fact that there are many different ways to buy and use real estate

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Dan Lok’s Wealth Triangle: 3 steps towards financial freedom

The wealth triangle is a combination of three things, which, used together can help you escape the rat race and bring you to financial freedom.

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