Business And Finance Plan Advice Blog

Failing to act on an idea can paralyze the path to success, so a few Silicon Valley kids decided to start while their still too young to shave.

Three boys, Aryan Taheri, 10, Alec Boyer, 11, and Boyer’s brother Shaun, 13, recently launched Santa Clara-based Calsunergy, a company based on the creation of renewable energy products. The young entrepreneurs hope to sell low-cost, high-efficiency solar panels and win first prize at the California Clean Tech Open competition.

These kids are the embodiment of the pioneering spirit shown by entrepreneurs who throw caution into the wind and act on their ideas. Their can-do attitude at such a young age is remarkable, and there’s little doubt these kids aren’t just going to sit back and see where the world takes them. They are creating their own futures.

The book “How Come That Idiot’s Rich and I’m Not,” highlights how actions like the ones taken by the Silicon Valley trio are necessary on the road to success. It covers several wealth-building topics, including the art of taking action on an idea like the eco-friendly start-up created by the California boys.

This book illustrates that it takes more than having the best idea, an Ivy League education or catching the breaks to become rich. It centers around taking action, whether you’re a Harvard graduate or a high school dropout.

You can have brilliant vision, a tremendous concept and infallible business plan, but if you are consumed with fear to act on these, you’ll never become wealthy. You can analyze and prepare for executing a plan till you’re blue in the face. But you have to eventually act and not fear failure. As Leonardo Da Vinci once said, ‘Life is pretty simple: You do some stuff. Most fails. Some works. You do more of what works.’

You have to acknowledge that fear is part of the process and that overcoming it is easier than one thinks. It is also important to “take care of yourself first” by not overextending your financial, emotional, or physical well-being.

When you’re looking for a quote on auto insurance, there are a few questions you need the answers to before you make your final choice. You don’t want to take whatever insurance is the cheapest; you want to be an informed driver. You’ll want to know what the minimum coverage laws are for where you live. It’s your responsibility to make sure you’re protected. The insurance company will only offer you quotes based on what you’ve told them.

You’ll want to ask if you can get immediate coverage. If you need insurance fast, you aren’t going to want to choose a company that can’t guarantee coverage right away. Fortunately, most companies can give you a policy-some within minutes of you filling out an application or form. If you’re looking to insure a motorcycle, you’ll want to ask up front if they cover motorcycles since a few companies choose not to. They consider motorcycles to be a higher risk because of possible serious injuries in the event of a collision.

Ask the representative if you can get a better payment if you go with a higher deductible. If you’re a fairly safe, defensive driver, there’s nothing wrong with having a higher deductible but if you or someone who drivers your car is accident prone, this won’t be the best choice for you. That’s why you’ll want to know if the policy has provisions to cover your teenage children if you let them drive your vehicle. Some policies have this blanket coverage while others do not.

Know if the auto insurance company you’re looking at for a quote offers any bundle servicing. Find out if they’ll give you a discount if you also put your home insurance needs with the company as well. Make sure you specifically ask about discounts as some insurance companies will not automatically offer them.

Ask what type of payment options they have. One of the most convenient ways to pay bills today is either as an automatic withdrawal through a bank account and if you don’t have a bank account, you’ll want to be able to pay it online for convenience sake.

You’ll want to have the above questions answered but you’ll also want to make sure that you fully comprehend what it is your state requires (the minimum) versus what will happen to your financial security if you have an accident and the costs exceed the minimum. You can run into serious financial trouble if you have an accident and there’s a greater injury or property damage cost.

When you get auto insurance, keep in mind that it’s for your protection and if you can afford a policy with more than the minimum requirements, you might be better off to go with that one. It’s always better to be prepared.

A financial plan or strategy to guarantee your future well being is something every working individual should contemplate early in life, but if that luxury has passed many years ago there is still time for you to start now.

A financial plan is not a plan or strategy on how to spend our earnings received from working hard for a boss. Ask yourself these questions

1. What do I think of when thinking about what to do with the income I spend all of my time earning? Holidays, cars, shopping and night life.

2. What do I think of when thinking about how to improve on my income? Thus improving my quality of life! (Borrowing)

Below is not the answer you should be coming up with!

Quick ways to get what you want!

* Borrow from Dad
* Take out a loan
* Open an account
* Get a Credit Card

These are all easy ways to get what we want, thus giving us pleasure. But the after effects are what cause the pain. These are quick ways to financial enslavement. The pain mentioned here is the pain of handing out all your hard earned money, month after month. The best thing to do is to say “No thanks!” to the quick ways of getting what you want and find ways to earn your own money.

The best way is to be an Entrepreneur, looking for and taking advantage of gaps in the market for products or services. Once these have been Isolated, proceed to fill the gap with your expertise and experience in your specific field. The good or bad financial rewards received will be a direct result of the VALUE you provide, so adjust your value and input accordingly.

It would be good for your future financially, to have a well thought out plan of action, with good ideas and strategies to ensure Financial Independence instead of financial ruin.