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Hi Everyone,

Let's get straight to the point--creating a second stream of income can change your life. In all of my books and seminars one of my main teachings is that you should spend less and save more in order to live and finish rich. But think about it, if you spend less, save more, and MAKE more, nothing will stop you from reaching your goals and achieving financial freedom.

So this weekend, I want you to think and dream about what you would do if you were to create a second stream of income.

To set you on the right path, I want to give you my rules for getting started.

Most home-based businesses never get off the ground because most people get mired in minutia. They don't realize there are really only three rules to follow to start a home-based business:
  1. Ready
  2. Aim
  3. Fire
Okay, I'm kidding - There are actually Four Rules You Need To Follow.

Rule No. 1 is to make the decision that you are ready to start a business at home. Find a spot in your house. Pick a day on your calendar and get started. Read books on how to start a business and do research, checking resources available on the internet. But get started. A cause set in motion begets results.

Rule No. 2 is to pick a field. Don't spend years trying to find just the "right business" for yourself; don't worry if you don't get it right the first time. You're not signing up for life and you're not giving up your day job (yet). Just pick something that gets you excited and get going.

Rule No. 3 is to get help. Considering how many resources there are out there to help you, it's silly to try and go it alone. You're not even close to being the first person to start a new business at home--more than 20 million Americans have gone before you--so take advantage of their experience.

Rule No. 4 is to make it legal. Although you don't need a lot of "stuff" to start a business, you do need to make it legal. To keep the IRS off your back, you will need to set up a legal structure for your business by choosing from three structures: sole proprietorship, partnership, and corporation. For more information on the subject, go to the IRS website at www.irs.gov and request publication #334, "Tax Guide for Small Businesses." If you are selling retail products, you will more than likely need a State Tax Resale Number.

If you could start your own business, any business, what would it be? Share your answer on my facebook page.

Have a great weekend!

Live Rich,
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David Bach
Founder, FinishRich Media, LLC.
9 Time New York Times Bestselling Author
Author, #1 New York Times Best-Seller, The Automatic Millionaire
Author, #1 New York Times Best-Seller, Start Late, Finish Rich
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