It hit me while I was having an inspiring conversation this week with a woman wanting to get a job selling mops like I do. After seeing my numbers and opening the door to possibility that she could also make 900$ a day selling mops, noticing her eyes glisten and sparkle as she soaked up every morsel of information I gave her as if it were the most important thing in the world, I felt inspiring. Then I realized that my 900$ a day earnings (although above average to many) could also be seen as a fart in a windstorm compared to someone who say makes 9000$ a day, or even 900$ an hour. Which leads us to our first key to building lasting wealth.
Your income and level of wealth will only grow to the extent that you perceive is possible for you, it’s all a matter of perspective. I remember when 900$ a week was fantastic. At the time my brain couldn’t fathom 900$ a day. So the questions to ask yourself are “My doors of possibility for building wealth are they open or closed?” and “Where can I access information that will help me shift my current perspective to a bigger, brighter and more prosperous future?”
To make change possible and to build lasting wealth you must start with a new perspective. “The definition of Insanity: doing the same thing over and over again and expecting different results.”
I was having a conversation with a colleague and friend of mine last night and we discovered that we simultaneously this week had come to the same conclusions about the very important subject of building wealth.
The conversation with my friend and colleague Tom delivered yet another few savory morsels of wisdom. As a speaker he was recounting to me how his efforts for obtaining sponsorship funds to create his workshops had transformed. Tom had decided it was just as much effort to ask for 500$ than to ask for 5000$ and he decided that he would throw his idea out there and involve others in the task of amassing the funds instead of doing it alone. Which leads us to wealth building key #2.
It doesn’t matter what kind of business you are involved in, if you study the most successful people they’re efforts are always multiplied through leverage. Weather that be leveraging other peoples resources, other peoples efforts, connections, time, money, you name it. In my world I call it “selling one to many”. If you can sell your product, idea or service one time and have it explode out there to thousands or even hundreds of thousands of people, how much more effective would you be versus selling one thing one person? Leverage = big bucks, it’s the most basic and fundamental ingredient I believe to building real and lasting wealth.
What types of leverage are you using in your business? Are you maximizing your networks and connections and the people you know to grow your income level? Set some time aside to think about the concept of leverage and how you can use it to grow your income. Most people don`t think about ideas long enough to produce tangible results. When you put your mind to work, and ask it to do what it is made for, coming up with solutions that is, you will be surprised at what your mind can produce! Your mind is a machine built for delivering you solutions, so put it to work, I tell you it will be time WELL spent!
Now leveraging is key but leveraging in itself won`t make you wealthy unless you are able to strategize and delve into wealth key principal #3 proper planning.
3. Proper Planning
Lulu lemon the hit yoga store I am sure everyone has heard of started out with one retail location 8 years ago in Vancouver and is now a multimillion dollar chain with I can only guess hundreds of locations throughout America as they have one in every major mall I’ve working in, and did you know it all started out with a brilliant brainstorm?
The genius behind this lulu giant is a man who believes in proper planning. My friend Tom is being coached by this very man at a business mentoring program. He say’s success is a process of planning. 50 years ago when you turned the ignition on a car, you had a 50-50% chance of it starting. Now a days with all of the engineering and technology advancements, time and research invested into building great cars, they’ve got it all boiled down to a science. They’ve perfected the workings of a car engine. Building a business is the same. There is a science behind it and its secret is in taking the TIME to do the proper planning.
Most people throw up a sign, hope on word of mouth advertizing and declare themselves in business. Without the proper time and energy invested to plan and map out your strategy for success, you are doomed to fail. Don’t let your dreams and goals this year become another failed attempt.
What goals do you have for your business, for making more money this year? How will you reach them? What will you do if one idea fails? Do you have a backup plan? How can you maximize profit and minimize your risk? Who will help you? How do you outsource what aren’t your strengths? Most importantly who will help you brainstorm all of this and who will keep you accountable? All very good questions to consider as we roll into yet another year here. Start it off right, I want YOU to succeed in building lasting wealth!
The more my friend Tom and I talked the more I chewed on his ideas. Yes I agreed planning was necessary, you need to know your sales funnel, what goes where, and have a process to take your clients through that will lead them to purchasing from you BUT ideas are one thing, taking action is where the money’s really at!
4. Consistent Implementation
I was listening to Brian Tracey in a webinar last night and he said something profound as he usually does, he said most people fail in business because they try something once and fail and don’t bother to keep trying until they get it right. Hmm how true! That’s why this last key to wealth, consistent implementation is what separates the professional success seekers and the ones who will ultimately succeed in building lasting wealth versus those who are just curious.
When I started doing demos and selling mops, I experienced a lot of failure. Actually a lot is an understatement! Successful people are those who are willing to fail a bit on the way to getting it right. – Seth Godin
That’s why consistent is such an important word in this last key to building wealth. I find the best way to keep me in consistent action and moving forward is to have accountability partners. Whether that be a coach, mentor, mastermind group or support group of peeps to keep me in check.
Consistency builds momentum. When you have momentum you become like a freight train, almost unstoppable when rolling at full force!
Dedicate time each week to working on your business thinking and strategizing versus only working in your business. Get an accountability partner or commit to becoming part of a mastermind group. Who can support you in moving forward? How can you surround yourself with peers to bounce ideas off of and keep you in consistent action?
I guarantee if you employ all of the 4 keys to building wealth this year you are setting yourself up for abundance, prosperity and true wealth this year!