Category: Goals

Get out of the rat race

We’ve all worked jobs we hated. We were underpaid, under-appreciated, and bored out of our minds. We either quit these jobs or were fired for poor performance because we just gave up. Instead of taking that approach, you need to consider every job an opportunity to learn something new that you can apply down the line to find success.

When you give people the tools they need to come up with unordinary solutions, you are enhancing their lives for the long run. You need to take this approach. What if one of your terrible jobs had been one with no pay at all and you needed to come up with some ingenious ways of making money? I bet you could have found a diamond in that rough. This idea can also be used in your own company.

Now, I don’t recommend going into the next meeting declaring that no one will receive pay any more, but you can tell them that their potential raises, bonuses, and other perks are now dependent on their creativity in ways to enhance the business.

Let’s talk about a great concept called financial literacy. This certainly isn’t something they taught you in school but is still essential to know. So, what is financial literacy? 

The old school way teaches people to be good employees and not employers. This mindset will never make you wealthy. You need to focus on becoming a good employer. You also need to learn how to not only attain wealth but sustain wealth for generations. This is what financial literacy is all about.

So, how do you get out of the rat race and start working toward a wealthier future? You need to understand the difference between an asset and a liability. Take a look at your own life and you’ll probably find the following:

Assets

  • Real Estate
  • Stocks
  • Bonds
  • Intellectual Property

Liabilities

  • Mortgage
  • Consumer Loans
  • Credit Cards

You’ve probably been fooled into thinking things like your house, car, and entertainment system are assets. They aren’t! Assets should be continuing to MAKE you money. When you continue to struggle, you are not building wealth. If your primary income is from wages and each time you make more money, you pay taxes-you’re not really creating wealth either, are you?

So, if buying a house isn’t an asset (and, it’s not because you spend about 30 years of your life paying it off), then what is. Here are some of the best assets to attain and when you can start to actually see wealth being created because of it:

Average time of holding on to an asset before selling it for a higher value:

1 year

  • Stocks (Startups and small companies are good investments)
  • Bonds
  • Mutual funds

7 years

  • Real estate
  • Notes (IOUs)
  • Royalties on intellectual property
  • Valuables that produce income or appreciate

So, here are the steps to getting out of the rat race and onto your journey of creating wealth:

  1. Understand the difference between an asset and a liability.
  2. Concentrate your efforts on buying income-earning assets.
  3. Focus on keeping liabilities and expenses at a minimum.
  4. Mind your own business.

We went through the first three and next time we’ll talk about how to mind your own business to keep your eye on the prize. 

If you need help getting out of the poor mindset and into the wealthy one, try our GUIDED TOUR and work with one of our experienced business coaches today.

If you are serious about growing your business book your free roadmap session where you and I will have a 20-30 minute conversation about exactly what you are struggling with, where you want to go, and where you are right now. I’ll help you start to plot out the roadmap a little, and if at the end of that call you say “I want to get your help to get there faster and speed up implementation, I’m happy to help you do that too! But for now, sign up for the roadmap session – I’m really looking forward to talking to you!

Put it to work!

In the last post, we talked about how to conduct word of mouth research and then put that research to work. Today we’re going to give you some great tried and true ways to use word of mouth when building and executing your campaign.

We’ve done it in a list form, so you can go through and highlight the ones you want to put into action. These are offered by George Silverman which you can find in his amazing book The Secrets of Word of Mouth Marketing.

Here they are:

  •   Give them something worth talking about
  •   Cater to your initial customers shamelessly
  •   Give them incentives to engage in word of mouth
  •   Ask them to tell their friends
  •   The customer is always right
  •   Always tell the truth
  •   Surprise the customers by giving them a little more than they expected
  •   Give them a reason to buy, make them come back and refuse service from anyone else other than you
  •   Make eye contact, and smile, even on the telephone
  • Continue reading “Put it to work!”

Add compost

In the last post, we talked about the first three of the 7 specific areas you need to consider in your franchise prototype process. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

 

These 7 areas will fine-tune your plan for the ultimate level of success. Today we are going to cover the last four.

Think of constructing your business model like planting a tree. At first, it is so small and weak you wonder if it will even make it through the night. But you keep watering, fertilizing, and nurturing it. Your ideas will grow the trunk and each of these strategies will extend out like the branches of your now strong tree. Finding the perfect support staff, employees, vendors/suppliers, and other relationships will make your tree flourish with leaves and flowers.

Continue reading “Add compost”

Dream higher

When you get in your car, you know where you are going, you have a destination in mind. Your business should be run in the same way. What is your business goal? Where are you taking your business? What is the higher purpose for doing what you are doing?

Clarity on your goal will increase the likelihood of achieving them.

“What do you want to achieve at the expense of all other options available to you?”

Answering these questions will help you gain clarity on your goals.

  • If I won the lottery tomorrow, how would it change my life?
  • If I knew I was going to die in 12 months… what would I do day to day?
  • What do I enjoy doing the most?
  • Who do I currently spend the most time with?
  • Who do I most enjoy spending time with?
  • Who pushes me to ‘think bigger?’
  • What is a dream accomplishment that I’ve been afraid to try?
  • What are my primary three financial goals?
  • What are my primary three career goals?
  • What are my primary three health goals?
  • What are my three biggest worries?
  • What would I like them to say at my funeral?

 

The more clarity you get around your goals, the easier it becomes to move towards and ultimately accomplish them.

Remember a Mammoth goal is achieved with the first small step.

The journey of a thousand miles begins with a single step.

Amazon.com was just an ‘idea’ in Jeff Bezos’ head not too long ago.

Apple was a figment of Steve Jobs’ imagination.

Google was a University project.

The sky is the limit!

Your business success is our passion.  Check out our  Guided Tour to find out how we can help you get to the next level.