10.5 Things To Do Before You Escape Your Day Job

Hey, before you escape your day job and give your boss the middle finger, there are some things you need to do. Don’t get caught up in the sexiness of quitting. Don’t get swayed by the gurus, the late night infomercials, the magic pills, or push button microwave instant riches schemes. Don’t expect to hit the lotto right away. Instant gratification will destroy your dreams of entrepreneurship.

Successful athletes, entertainers, and entrepreneurs have put in the time, sweat, energy, and long hours to become the top in their fields. People fail to realize that they have had many setbacks, and most had meager beginnings. Athletes train for years before they get paid. Entertainers waited on tables or worked security jobs when they went to auditions. Entrepreneurs had failed marketing campaigns before they made their money.

It will take the same effort on your part. You are not trying out for a pro team or movie part. But your goals are just as important. You will have to WORK (yes, I said the W word) and take that long arduous grind to become the best you can be.

It will take time for your business to grow. It doesn’t happen over night. You will wear more hats in your business and if you drop the ball you don’t make money. Don’t quit because you haven’t made a sale or you didn’t meet anyone at the networking event. How long did it take for you to learn your position at your job?

10.5 Things To Do Before You Escape Your Day Job

1. Pick The Right Business – Don’t just join the shiny object. Don’t hop on board the lotions, potions, and magic notions. The next prelaunch is not for you. Chances are you are making money on the side from your hobbies. Or this is your first rodeo. Point blank, pick a business that fits your strengths and talents.

It doesn’t matter if it is real estate, insurance, antiques, tax services, or private consulting. Pick something that you will excel in. If you don’t know what that is ask your family, friends, co-workers, or go to trade shows. Nothing is frustrating like being in the wrong business selling stuff you don’t like.

Follow your skills not the money. Don’t join the vitamin company if you don’t want to do home parties. Don’t go online if you hate the computer, don’t sell real estate if you hate real estate. Think long term. It took me two years before I had consistent cash flow. That’s 26 months before I had my first $1000 day. The next month I had a $1500 day. That’s consistent cash flow that I reinvest into my business every month. I have stuck to my strengths. I have improved upon my skills. Please do the same.

2. Your Reason WHY? – Your why is the fuel to keep you going. Money is a terrible motivator. You can get a second job and make more money. What drives you? Who will you serve? Who will benefit from your success? Why are you in business? When your why is big enough you will get through the setbacks. Your why is your drive.

3. What is Your End Result? – How much money do you want to make? Do you want to sell the business or pass it on to your children? How much money do you really need to make to escape your job? Having a $5000 per month salary is different from making $5000 per month in your business. It’s not the same income.

Working with the end in mind gives you long-term perspective. This extra thinking and planning help you shorten the learning curve. Search out people who are doing what you want to do. Success leaves clues.

4. Keep Your Job – Yes, keep your job. Your income is your best source of wealth right now. It will pay your bills, debts, and help grow your business. This is going to fund your business, pay for your education, and soften the blow of money lost. You did know that you will lose money right?

Your business needs to grow. When you make a sale reinvest those proceeds back into the business. You will scale up and grow faster. The key is to get your business cash flowing. Boot strapping will help you keep your expense under control. Don’t incur debts and grow with cash flow.

5. Be the Tortoise – Slow and steady wins the race. Every time I read, The Tortoise and The Hare, the Tortoise always wins the race. Research, investigate, and get as much understanding as you can for your business and industry. How much is your start-up cost? How much are your monthly expenses? Do you need an office space or can you work from home?

Don’t be in a rush. The deal of a lifetime happens every week. People find success in all age ranges. Your due diligence might give you an aha moment. For example you were researching residential real estate and you found that commercial real estate was a better fit for you. You just saved yourself time, money, and frustration. Or you investigated online affiliate marketing but you want to interact with people through home and hotel meetings.

6. Customer Service – You will need this. You want people to refer people. You want your vendors to be on time, your clients to pay on time, and your employees to have the best customer service. Customer service will help you grow faster.

Your banker will help you out more, your book keeper will appreciate you, and your tax guy will give you the best tax advice. Practice customer service at your job. You may not deal with customers directly but you do have internal customers.

Your co-workers are your customers. Learn why you earn. Work on your communication skills. Learn how to handle disputes. This is where you practice engaging and enrolling people into your ideas. Plus you get paid to do it.

7. Exploit Your Company’s Benefits – Find out all of your company’s benefits and use them. Schedule that elective surgery. Update your prescriptions, get new glasses, take some trainings, go to school, and max out your 401k plan. These benefits will disappear when you quit. Use them.

Use your lunch time and break times to read and listen to audio. No more gospel talk. That’s an extra hour to get better in your business. Exploiting your company’s benefits is not wrong. You are entitled to them.

8. Fall in Like with Your Day Job – Work all of the time you are at work. Become a model employee it will translate in your business. You do not live in a bubble. What you do on the job you will do in your business. My business grew when I became a better employee. Plus you are sowing seeds you can harvest later. One of my biggest investors is a co-worker.

9. Super Hero on the Weekends – The weekends are the time you will become a super hero. Last year I took 6 trips where I was speaking and building my brand. At some of the events I felt like royalty. People hung on my every word. I was able to make connections that added dollars to my bottom line.

Attend industry and company events. I took 28 days off last year to help grow my business. Your days off will be money time. Just make sure you schedule some time with friends and family. Opportunities come up for speaking engagements, interviews, and mentorship all because your business is growing.

But when Monday comes you are back to your normal self. Your alter ego has to go away during the day job work hours. Don’t worry your freedom will soon come and the super hero will be permanent.

10. Sales and Marketing – This is the most important part of business. Sales is the life blood that keeps your company going. Marketing is the tool to get you the sales. You will go broke and fail without sales. No matter how great your stationary looks, how awesome your product is, or how excited you are about your business. It don’t mean squat without sales.

I stress to my team that you will need to learn 1 to 3 marketing techniques. Whether it’s direct mail, SEO, PPC, or cold calling you need to develop these skills. Marketing needs to fit your skills. Don’t learn anything you don’t want to do.

Marketing brings in the leads. You need to have leads and have a list. Your list is cash flow. New entrepreneurs go through all of the motions of getting in business and gamble with marketing. Take the time to learn.

The best part of your Day Job is it will fund your marketing. There will still be a check coming in when marketing campaigns fail. Yes, you will have losing campaigns. It’s the nature of the business. Soon you will have winners and your company will support itself. Sales and marketing are the most important parts of your business. Do not neglect these parts.

10.5 Your Cash Flow Plan – We come to the last part. Your money. You need a budget and your business needs a budget. Two separate plans. I tell people to do a 90-day budget. Why 90 days? Most people can’t plan ahead for a year or don’t want to. If you were asking for funding you would need multi-year projections.

I am amazed when newbies are shocked that their business has expenses every month. Auto ships, desk fees, internet fees, hosting fees, and taxes. Yup, you have to pay those things. This is why you need a cash flow plan.

Depending on your industry you need to know how often you will get paid. I am an online entrepreneur so I get paid everyday, every week, and every month. My real estate deals can take 30, 60, 90, 120 days to close and I have to wait on those commissions.

Cash Flow keeps your business running. Naming every dollar will help you cut expense and scale your business. These are the 10.5 things you need to do to escape your day job. Put them into action and succeed.

Charles Fitzgerald Butler, is an entrepreneur and expert in internet marketing. Charles has a passion for helping people start and run successful home businesses. You can partner with Charles and start building multiply income streams from your home. Charles’ goal is to help all who partner with him achieve cash flow and profits from their business.

3 Perspectives on Gaming Licensing – What to Expect From the Gaming Commission

In the world of gaming, there always seems to be this difficult relationship with the casino and its regulator. This is true for both private casinos and those that are Native American owned. Casinos need to hire reliable individuals (ideally those who have passed employee background checks) to keep their business generating revenue, and the gaming commission’s job is to make sure those people are legally licensed to work in their respective facilities. Sometimes, the casinos refer in jest to the gaming commission as “cops,” and the gaming commission can refer to the casino as “cowboys.” Aside from that friendly banter though, this is truly a symbiotic relationship. Both parties need each other, and the fact remains that if the gaming commissions overregulated the casinos, the gaming commissions wouldn’t be around themselves.

The Importance of Employee Background Checks & Monitoring

I had a chance to talk with casino employees and casino managers about how the gaming licensing process affects their lives. I also spoke with gaming commissions on how they view their role with respect to regulating. My firm works with a great deal of casino clients that span private industry operators to Native American owned enterprises. One of the major issues that kept coming up was the problem of casino employees not reporting to the gaming commission when they get arrested. This seems to be a recurring problem, but there are many different angles to the issue.

The first perspective that I encountered was from the applicant. Those that I talked to mentioned they knew they should report an arrest but it wasn’t very clear to them what a disqualifying offense was or not. The reality of the situation is that most of these offenses are not ones that would have their gaming license taken away, but the applicant doesn’t know that so they simply don’t report it, and then run the risk of having it exposed by the gaming commission. And if the gaming commission does an audit and finds an arrest record, that licensee can be terminated. If the applicant came clean and explained the circumstances and situation surrounding the event, he or she could have remained employed.

Another perspective is from the casino. Most casinos run employee background checks on any applicant that they hire, and then, in turn, the gaming commissions will typically also do a thorough investigation that involves an FBI database search. Then, a license is issued if the applicant passes all of the employee background checks. After this is done, casinos will employ the individual and put him or her through extensive training and on-boarding. According to an article published by Robinson and Associates, casino employees are considered to be very valuable asset because they fall under what is called a complex position. A great deal of time, effort, and resources goes into training and nurturing them. When a casino has to replace an employee, this could cost them over $10,000 (or over $12,000 if they work in an upscale property). What if the gaming commission runs an audit by performing its own employee background checks, finds an employee that recently got arrested (which went unreported), and terminates that employee?

In a time when gambling revenue is down, casinos are watching their bottom line very closely. In many of my discussions, executives have mentioned that if there was some way to have their employees electronically monitored and have the right process to provide the documentation of the arrest occurrence delivered to the gaming commission, it would be a huge help. Casino turnover is already high enough, and if the gaming commission came in and terminated a licensee, that would cost the casino even more money than normal turnover because that employee would have to be removed from the property immediately.

Instituting a System that Monitors Employee Background Checks

The last perspective on performing routine employee background checks is from the gaming commission side, whose responsibility is to keep those casinos in compliance with laws and policies from their respective governments. They are held to those standards and are expected to enforce them. However, every gaming commissioner that I talked to reiterated that the job is not to try and harm the casino’s profitability, but to make sure they are kept in compliance and assist them with remaining in compliance. I mentioned the idea of having a system that would instantly alert the employer and then provide a system for the applicant to report his or her arrest to the gaming commission. Although they cannot “officially” comment on any particular service, they did mention that it sounded like an excellent idea. Most commissioners say they consider themselves partners for the casinos and operate as such.

In closing, managing the dynamics of the casino, the gaming commission, and the employee can be challenging, but all parties working together can bring about a consistent solution. I have had the good fortune of being able to work with all parties on solutions for their relationship and get to hear about great ideas all the time. A system for instantly delivering arrest results and setting up a process for self-reporting sounds like a win-win-win. But this is just one of many different ways to approach managing all those involved on the different issues that they intersect on, including employee background checks. Great things come about by working together…and not in conflict.

Why Obama Should Legalize Online Gambling

President Obama should in fact legalize online gambling for numerous reasons. The first and most important one is that by prohibiting it, Americans who have the means to still gamble amidst the prohibition are doing so by using illegal internet casinos, some of which are used by Al Qaeda to launder money, and foment terrorism growth and operations. The other major reason is that the economy will benefit as billions in taxes will be generated from this regulation, not to mention thousands of jobs. The economy is in its worse shape this generation has seen on a global basis. The credit crisis has hit so hard, that even former FED chair Alan Greenspan has come out to say he was wrong about certain maneuvers that were taken place during his latest term as FED chair. Major corporations are cutting jobs, others have gone bankrupt, countries such as Argentina and other second world countries have called for help to the International Monetary Fund. Goldman Sachs, the premier investment banking firm in the world has declared it will cut its workforce. And lastly, chartists and speculators claim the DOW might fall below 5,000 over the course of the 09-10 leaving all value behind.

To put it simply, the world is REALLY becoming a difficult place to live as companies and governments struggle to make ends meet all across the board. As far as the online gambling industry is concerned, it was legal for its citizens to play and it was also legal to advertise online. This until 2004, when a bill called the UIGEA (Unlawful Internet Gambling Act) was passed by Congress, therefore making the whole industry illegal. After this took place, many major corporations went broke, and a lot lost a high percentage of income as US citizens were simply not allowed to play and gamble online. Numerous politicians argued the case as the industry would indeed earn billions for the government if properly regulated the industry, but the bills that were recently put into motion such as the one from Barney Frank (HR 5767) fell just short of acceptance.

Some Americans who actually have the means to open foreign accounts and who actually really do want to gamble do so anyway in today’s world as the ban is not properly put into place, and the worst part of this issue is that the government could be making billions if they properly looked at the industry, and regulated it and taxed it instead of negligently banning it. This of course is the main issue as to why President Obama would indeed legalize the industry given the fact that the economy has been hit in a sharp manner in his country, and legal entities struggle to survive. In fact, Mr. Obama is in favor of this industry being legalized as he has voted IN FAVOR to government regulation in recent industry related bills.

His favorable view along with an economic recession leading into depression might indeed make for a perfect storm leading the government into regulation and the cessation of the UIGEA ban not to mention a stop of funding terrorism bt Americans using illegal terrorist owned casinos. This point alone combined with the fact that the European Commission has recently formally complained to the World Trade Organization regarding the fact that the USA is acting in an illegal manner by banning foreign companies to trade in their soil (the agreement binds the USA to let this industry and others into action in the US market) are two major points that the new US government will have in favor to lift the ban.

What You Should Watch Out For With Slot Machine Gambling

The 2005 Gambling Act brought all British slot machine gambling under the rules and regulations of the new Gambling Commission. This act allowed gaming companies to advertise on radio and TV, as well as the possibility of getting bigger payouts on slot machines.

However, those who oppose it felt that it would cause an increase in gambling addictions. The Sports minister countered that sentiment by stating the new laws would actually gives the casinos more control.

Is there cause for concern that more lenient laws regarding slot games could cause an increase in the number of betting addictions? The Norwegian government would probably say yes, as thousands of Norwegian’s have become addicted to playing the slot games; turning one of the most law-abiding countries into a country riddled with citizens who have gambling addictions. It is so bad that the government wants to cut the number of machines from the current 18,000 to just a few thousand, with restrictions on access.

At one time, the major addictions included alcohol, tobacco and drugs. Today, however, there is another addiction that is growing faster than ever in the United States and that is a gambling, including slot machine gambling. Experts say that while adult pathological gamblers are a big problem, it is the teenagers who are falling victim to the allure of winning big money.

If they have jobs, then they will spend every bit of cash they have on betting, then they will turn to begging for money from family. If that doesn’t work, then they will begin stealing whatever they can to feed their habit.

Studies show that on average, a gambler will lose all of their money and then will use credit to continue to play slot machines or other games. They will get over their heads in debt, anywhere from $40,000 to $90,000, before they will even think about getting any type of help for their addiction.

Many will use bankruptcy as a form of relief and many others who cannot find a solution will commit suicide. Legalized gambling is one of the fastest growing industries today, enabling the gaming industry to make a lot of money.

Many people believe that slot machine gambling, video poker machines, video slot machines, or any other type of betting will not cause addictions, yet they do. This type of addiction is considered compulsive gambling and also a mental disorder, known as impulse control. Experts believe this has become more of a problem because access to betting is much easier than it used to be, considering the increase of online games and with so many more legalized gambling establishments opening up.

How to Make Money Gambling Online

It’s hard to believe, but a very small percentage of gamblers are actually able to make a decent living playing in casinos full-time. With the proliferation of online gambling, more and more people are able to pursue this “employment opportunity,” as you no longer need to live in Vegas to make this dream job a reality. Regardless of whether you are doing at as a full-time gig or not, it really is possible to make money gambling online. Like anything, knowledge is key and quite a bit of practice is required. Most likely, you won’t be able to make a living doing it, but here are some tips to help fatten your wallet.

1. If you intend to come out ahead gambling online, make sure you choose the right games. Blackjack or video poker are good ones, as the payout ratio ranges from 98 percent to 100 percent. This means that you have the best chance of winning, or at least breaking even.

2. Once you choose a game, get good at playing. Like anything, the more you practice, the better you will be. If you don’t practice, you will loose to people who do. Many sites online will allow you to play with fake money. Although the player levels at these sites will be lower than at pay sites, this will allow you to hone your skills before you risk losing your bank account. Bear in mind that you may need to alter your strategies when moving from free to pay sites.

3. Don’t quit your day job right away. Learning the ropes of gambling takes time and you will be competing with players who have been doing it much longer than you have. Take your time and build your strategy and skills over time. You need to be prepared to loose a little money before you begin winning on a regular basis.

4. Always read online gambling review sites to stay updated with all of the best new sites and up to date deals. This is a great resource and an easy way to keep up with which sites will offer you the best odds of winning. As these sites are updated often, they are also a good resource for finding out which sites to avoid.

5. Be sure that you play on a site that doesn’t frequently time you out or drop your Internet connection. It is almost impossible to make money in an online casino with an unstable connection. If you find yourself timed out repeatedly, move to a different site.

6. Download your earnings frequently when gambling online. This is a good way to protect your self against “rogue” or fraudulent online casinos. Some less-reputable sites will procrastinate paying your winnings in the hope that you will gamble them away before receiving them. If a site procrastinates in any way or won’t download your winnings, find out why immediately. If you are not satisfied with the response, contact the online gambling commission with which they are affiliated.

7. Look for gambling sites that are fun and only play the games you enjoy. Gambling is supposed to be pleasurable and if you take the fun away, you might as well get a steady-paying day job without the risks associated with gambling.