![]() Similarly, while running your online boutique, you'll be able to find and spot good suppliers and products with time and asking yourself how can I do better. ![]() Differentiating a good deal comes with time and experience. Had I just focused on adding more assets, I would have not been left with any cash to buy the better deal and would have been stuck with the first one. ![]() However, the next deal I picked was also for a duplex but with less downpayment and more cashflow. I remember the look on my partner's face when he saw me pass the deal because I still had a long way to go to get out the rat race. Even though I had $10,000 and could invest, there was something inside of me that told me to pass. While playing the game last night, I came across a big deal for a duplex with a downpayment of $8000 and cashflow of 160. Sometimes you'll we have a good deal right under our nose and it slips away because you did not realize it. One of the biggest challenges in the game and real life is to spot a good deal and grab it. First, have the boutique generate cash and then use that cash to re-invest and grow your business rather than jumping in with all the savings and then trying to figure out what to do. If you want to start your online boutique, start small. Starting with small deals give you the opportunity to start building your portfolio until you can flip them for profits and buy big deals that generate more cash flow thereby helping you to get out of rat race. Start small, don't jump straight onto big deals.Keeping your overhead business expenses low when starting out means saving more to re-invest back into your business thereby making money work for you. Similar principles also work in real life when you are starting your own boutique. When your salary is low, your expenses are low which means everytime you get paid, you can use the cash invest and create more passive income. Every time I picked an easy profession like a teacher or a truck driver or even a mechanic, I was able to get out faster in comparison to complicated professions like Pilot, Doctor or Lawyer. As a part of playing the game, every player has to pick a profession and work their way on getting out of the rat race by increasing their cash flow. Keeping things simple both in the game and real life is going to help you get out of rat race or any situation faster. Use the KISS Principle and get out of the rat race faster. ![]() 6 Lessons I Learnt From Playing Cashflow 101 (+ How they can help you grow your business) After having played the game numerous times, I've learned a lot of lessons that not only help me in my business but also in my real life. In the game, many missions are available at the same time from multiple. It's pretty much like monopoly but also different in a lot of ways as it teaches you how to become rich and financially independent even on a small salary. GTA 5 actors Shawn Fonteno and Slink Johnson have recreated one of the more. It's an interesting game that allows you to get out of Rat Race through buying/selling properties, businesses, and shares. The free online version is no doubt less detailed than the paid version, but I think it's a good enough alternative to the bought version to get the point across in what it's trying to teach.I don't have kids but i would buy the pricy version if I did for the fun factor.As far as it being a huge difference to the online version though, I suspect any differences are negligible in terms of education.Think of it like a more educational version of Monopoly and you wouldn't be too far off the mark.I purchased Robert Kiyosaki's Boardgame Cashflow 101 and immediately got hooked on it. I've played the online version quite a few times.I think it's quite beneficial if, like me, the property asset and passive income worlds in general are quite new.It definitely helps to create that shift in thinking about money from the usual ''Get a job'' then ''Save for a pension'' mentality that is all pervasive to the ''Income via assets'' mode of thinking.Especially assets in terms of ''Cashflow'' from rental properties. I'd be interested to hear from anyone who has? As Dino mentioned, there's also a free online version, available here: I've not tried it yet though. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |