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spencer

Enlightened Mentor
Ask spencer
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902 Questions
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  1. Asked: September 9, 2023In: Money & Business

    what are the disadvantage of having a transportation business?

    spencer
    spencer Enlightened Mentor
    Added an answer on May 30, 2024 at 8:45 am

    The disadvantage of transport business is that it is passive, you have to be around to be able to make money with it, it is attached to your time but I think with time it can be outsourced and you can get other vehicle. But in of itself it is active and you have to be healthy, but with time it can bRead more

    The disadvantage of transport business is that it is passive, you have to be around to be able to make money with it, it is attached to your time but I think with time it can be outsourced and you can get other vehicle.

    But in of itself it is active and you have to be healthy, but with time it can be turned to a passive income by owning other vehicles.

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  2. Asked: August 26, 2023In: Crypto & Forex

    Is BTC the best cryptocurrency?

    spencer
    spencer Enlightened Mentor
    Added an answer on May 30, 2024 at 4:11 am

    Yes sort of, Bitcoin is the foster child for crypto currency, it is the pioneer coin for crypto, so it'll definitely benefit from first mover advantage and also will be the most valuable, it is no surprise that it has been going up through out the year. If you're new to the crypto world, it is okayRead more

    Yes sort of, Bitcoin is the foster child for crypto currency, it is the pioneer coin for crypto, so it’ll definitely benefit from first mover advantage and also will be the most valuable, it is no surprise that it has been going up through out the year.

    If you’re new to the crypto world, it is okay to buy some Bitcoin and keep, since the value is mostly going up you’re almost guaranteed to make a profit.

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  3. Asked: September 24, 2023In: Money & Business

    Can you explain the concept of interest rates on loans?

    spencer
    spencer Enlightened Mentor
    Added an answer on May 30, 2024 at 4:02 am

    Interest Rates are actually the money you pay on top of the money you borrow, if I give you five thousand on a twenty percent interest rate, that's basically my profit for borrowing you money, I think it makes sense because when I borrow you money to the time you'll pay back, there will be inflationRead more

    Interest Rates are actually the money you pay on top of the money you borrow, if I give you five thousand on a twenty percent interest rate, that’s basically my profit for borrowing you money, I think it makes sense because when I borrow you money to the time you’ll pay back, there will be inflation which will render worth less the amount I borrowed you.

    Interest is a way of preserving the value of borrowed money.

     

     

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  4. Asked: April 28, 2024In: Money & Business

    How can small business build brand?

    spencer
    spencer Enlightened Mentor
    Added an answer on May 30, 2024 at 3:56 am

    Building a brand as a small business is not easy because you are relatively new, people don't know you, you have to spend a lot of money just to get seen, it's important to work with influencers, does that are just getting started. Most will help for free or for a small token, from there you scale uRead more

    Building a brand as a small business is not easy because you are relatively new, people don’t know you, you have to spend a lot of money just to get seen, it’s important to work with influencers, does that are just getting started.

    Most will help for free or for a small token, from there you scale up and move to paid advertisement, which can give you the results you want.

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  5. Asked: September 11, 2023In: Money & Business

    what are the benefits of running a partnership business

    spencer
    spencer Enlightened Mentor
    Added an answer on May 30, 2024 at 3:49 am

    A partnership business help you tremendously in furthering your business, if you have a partner you can easily delegate between each other and it becomes easier to move forward, this happens a lot in tech startups for example you'll see a founder focused on Code while the other is focused on marketiRead more

    A partnership business help you tremendously in furthering your business, if you have a partner you can easily delegate between each other and it becomes easier to move forward, this happens a lot in tech startups for example you’ll see a founder focused on Code while the other is focused on marketing.

    And over time you’ll find out that they have achieved their goals even though I’ll say it’s not easy to actually find good partners to work with.

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  6. Asked: September 4, 2023In: Money & Business

    What does it takes to make money from affiliate marketing?

    spencer
    spencer Enlightened Mentor
    Added an answer on May 30, 2024 at 3:09 am

    You need an affiliate marketing id on any platform you intend to work with, register with them and understand their term and conditions, have an audience, this could be through a Facebook page, website or YouTube. These are the basic requirements when it comes to making money with affiliate marketinRead more

    You need an affiliate marketing id on any platform you intend to work with, register with them and understand their term and conditions, have an audience, this could be through a Facebook page, website or YouTube.

    These are the basic requirements when it comes to making money with affiliate marketing, you advertise to your audience and when you make a sale you take out your commission.

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  7. Asked: September 6, 2023In: Money & Business

    How can I reduce cost and increase profit in my business?

    spencer
    spencer Enlightened Mentor
    Added an answer on May 29, 2024 at 7:38 pm

    I think it's very easy to do, the most important thing is figure out your priorities, what do you want to focus on, and this depends largely on what brings in money for your business, every other thing is just noise, pay attention greatly on what's important and do just that. Do not hire staffs impuRead more

    I think it’s very easy to do, the most important thing is figure out your priorities, what do you want to focus on, and this depends largely on what brings in money for your business, every other thing is just noise, pay attention greatly on what’s important and do just that.

    Do not hire staffs impulsively, also figure out if your business can work on auto pilot, to minimize expenses and increase productivity.

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  8. Asked: September 11, 2023In: Money & Business

    Are you giving enough energy to your work?

    spencer
    spencer Enlightened Mentor
    Added an answer on May 29, 2024 at 7:33 pm

    Yes, it is known as complacency, you probably hit a plateau and you feel super comfortable now with no effort at all, your business is running how you want it to, you are making money, compared to before where you'll have to go hustle before you make money. What I'll advise you do is to always set nRead more

    Yes, it is known as complacency, you probably hit a plateau and you feel super comfortable now with no effort at all, your business is running how you want it to, you are making money, compared to before where you’ll have to go hustle before you make money.

    What I’ll advise you do is to always set new goals for yourself, that’s the only way you stay motivated and want to do better, else every new level you reach will get you feeling like that.

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  9. Asked: August 31, 2023In: Blogging, Websites & Online Skills

    How do You Choose the Best Domain For Your Blog?

    spencer
    spencer Enlightened Mentor
    Added an answer on May 29, 2024 at 7:26 pm

    Choosing a domain for your business depends on your business needs, there are a lot of things that can influence your business domain, if you want to build just a local business you can go with a local tld but if you want to build an international business then .com is the ideal. All of these of couRead more

    Choosing a domain for your business depends on your business needs, there are a lot of things that can influence your business domain, if you want to build just a local business you can go with a local tld but if you want to build an international business then .com is the ideal.

    All of these of course, are dependent km whether the domain you want is available else you’ll have to settle with other extensions.

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  10. Asked: September 20, 2023In: Crypto & Forex

    how do i send crypto from binance to other wallets

    spencer
    spencer Enlightened Mentor
    Added an answer on May 29, 2024 at 7:18 pm

    I've sent money from Binance to Bybit and I did it over a crypto network called Tron20 and what I paid as fees is 1$, it was fast and reliable, it probably took seconds, the most important thing to pay attention to is the wallet address, pay attention to it, if you miss just a word it'll be very difRead more

    I’ve sent money from Binance to Bybit and I did it over a crypto network called Tron20 and what I paid as fees is 1$, it was fast and reliable, it probably took seconds, the most important thing to pay attention to is the wallet address, pay attention to it, if you miss just a word it’ll be very difficult to retrieve the address which means the money is gone.

    That’s my experience sending crypto t other exchanges.

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