Zig Ziglar said “Money isn’t everything , but it’s right up there with oxygen.” The topic of wealth, income, and making money is often discussed and viewed in a negative light. Our society is afraid of being labeled as greedy or money hungry, but what must be understood is that money is a crucial part of freedom.
I personally know what it’s like to have nothing, to stress about paying my next bill, and to feel hopeless. I also know what it’s like to thrive, and I’ve been fortunate enough to create some great income as well. Having money is a lot more enjoyable and fulfilling, but most importantly it gives you options.
Have you ever heard anybody say any of these?
“Money is the root of all evil.”
“Rich people are greedy.”
“Money won’t make you happy.”
“You don’t want to be one of those people.”
“I don’t need money.”
It’s usually those who claim they don’t care about money that are broke. Why not get wealthy? Why not become a millionaire? Why not focus on making as much money as you can? As entrepreneurs, I know you have goals of increase your income. We all have the same 24 hours in a day, so those thriving financially must be doing something different, right? Better yet, they must have a better perspective about money and how it’s earned?
Let me give you eight very tactical and straightforward tips that can be used right away to catapult your income.
1. Stop doing what you’re doing.
We all know the saying “insanity is doing the same thing over and over and expecting a difference result.” If you aren’t satisfied, the first thing you must do is stop doing what you’ve been doing because what you are doing is what is creating your dissatisfying, current reality.
What’s great about life is the opportunity to completely change your story and direction overnight. Regardless of your past decisions, you’re always one decision away from making the right one.
2. Don’t let money define you.
Your self worth has nothing to do with your finances. Whether you have a negative bank account or $5 million in the bank, your confidence must never waiver. If anything, your confidence needs to increase when you are stressed so you are motivated you to never feel that stress again.
Being wealthy is a state of mind, but so is being broke. You are what defines you, not what you possess.
3. Start prioritising your profits.
When you set up your weekly schedule make sure you start with income producing activities. Of all your activities, 20 percent will account for 80 percent of your income. Figure out what those are.
Really think about the the top two or three things you need to do to create income. Now put those in your schedule consistently to assure you are creating income.
Constantly ask yourself if what you’re doing is profitable. Focus on doing what you should versus what you feel. Never forget that impact drives income.
4. Start placing a higher value on your time.
Time is more valuable than money. You can always get more money, but you can never get more time. It is possible to become twice as valuable, and make twice as much money in the same amount of time.
There is nothing more valuable than time invested wisely. We all have the same 24 hours, and it’s what you do with them that determines everything.
5. It’s Ok to say no.
Steve Jobs once said, “It’s what Apple said “no” to that ultimately made them successful.”
If you’re over-extending yourself and committing to too many things, this word will change your life. Say “no” to everything that doesn’t create income for you until you get your income to a place you feel confident and secure. Make a commitment to yourself that you will focus on income-producing activities versus tension-relieving activities.
6. Proximity is power.
Most broke people hang with other broke people and they usually stay broke, together. Elevate your peer group by reaching out to those playing the game of life at a higher level than you.
Find those people because you’ll become a lot like the people you spend the most time with. Their belief systems, their ways of being and their attitudes are contagious. You’re either surrounding yourself with those who hold you accountable, or let you off the hook. Choose wisely.
7. Lower your excuses.
As the excuses go up, the bank account goes down. The best excuse makers or “validators” have the smallest bank accounts. The energy and time you spend on creative excuses is better invested in thinking of actual solutions that move your life forward. Excuses are a disease and those who continue making them will continue to have money issues.
8. Shift your focus from victim to leader.
Stop blaming the economy, stop blaming your past, stop blaming your boss or company, and stop thinking the world is out to get you. Charge more, switch jobs, become more valuable. My friend Hal Elrod says, “The moment you take responsibility for everything in your life, is the moment you can change anything in your life.”
The difference between ordinary income and extraordinary income is fast implementation. How quick will you get on your grind to start increasing your income? I assure you if you take these tips seriously, and want it bad enough you will create an income explosion the next couple months. I want you to realise that your bank account isn’t who you are, it’s who you were before you made the decision to focus on wealth.
This article was originally posted here on Entrepreneur.com.
10 Tips To Become A Millionaire This Year
Becoming a millionaire requires changing your mindset and implementing some changes.
Becoming a millionaire may seem out of your reach, but it’s possible with the right attitude and guidance. The fact of the matter is your income can only grow as quickly as you do, so you need to change your mindset to achieve your goal of becoming a millionaire.
Once you have a millionaire mind, you can’t lose it, no matter what financial or business mistakes you make along the way. To get yourself there, you’re going to need some structure. To help you, I’ve outlined the top ten tips you should follow to become a millionaire this year.
If You Think These 5 Things, You’ll Never Get Rich By The Time You’re 30
Five common mistakes entrepreneurs make when starting a business and how to correct them.
Last week, I had lunch with a millennial who wanted some advice about a business he’s starting. After the usual small talk, we got down to discussing his business plan. Within a short time, it was clear that his business idea was great, his plan for executing was fairly solid and he had gathered together a strong team to help him make it happen.
So far, so good. But, to be frank, this guy has no chance of being successful with his current mentality. What it takes to be rich (or successful in any measure) has a lot more to do with your mindset than your ideas and plans.
From the time we started in business at the ripe ages of six and seven, our Grandpa Joe taught my brother Matthew and me many lessons about the details of running a profitable business. Over the years, we learned about how to create a business plan; how to market our products and services; and how to take care of customers, vendors and employees. All this knowledge has been invaluable to us in creating and running successful businesses. But, what our grandfather taught us about attitude and mindset trumps all other lessons.
Without calling out the specific individual I spoke with recently, below are five “hypothetical” attitudes that will get you nowhere in your journey to success – and the attitudes that should replace them.
5 Habits That Lead To Millionaire Business Success
You need the right habits if you’re going to succeed.
What do all millionaire businesspeople have in common? Well, a lot of things.
I found from a recent study that 80 percent of all millionaires still go to work every single day. They’re working people just like me. But, they have to keep themselves in work or it all grinds to a halt. So what are the habits you need to make your business a success?
Nothing is ever going to come easy. You can look at the likes of Steve Jobs and Bill Gates, as well as the other usual suspects, to realize that success didn’t come with their first venture. Many of them failed time and time again. It took patience for them to become successful.
I read an article recently about 36-year-old teacher Andrew Hallam who became a self-made millionaire on a teaching salary. But, in his spare time he invested smart and lived frugally.
It proves you don’t have to inherit lots of money or become an instant success to make a millionaire business.
You have to be dedicated to your craft if you’re going to become successful. Going back to Bill Gates again, he started his business in the back of his garage. Now that’s dedication.
It’s what I tell all my students. If they’re not dedicated to this, then they should leave. You need to be able to push through the barren periods if you’re going to reach the oasis of success.
3. Ambition and big dreams
Have you ever heard the quote, “Shoot for the moon. Even if you miss you’ll land among the stars”?
I take that to heart because even if you aim to become a billionaire and miss you still might be a millionaire many times over. Take the Wright Brothers as an example. Not content with creating a successful glider in 1902 they went on to create the world’s first airplane in 1903, making four brief flights in Kitty Hawk. It demonstrates the importance of dreaming big because you never know what you might achieve.
4. Learn from mistakes
Every good businessperson will mess something up. It’s inevitable. What’s important is how you learn from your mistakes over time. Do you adapt after making your mistakes?
Millionaire businesspeople always set some time aside to reflect. Then they create a plan of action for ensuring that it doesn’t happen again. Most failed businesspeople put it down to “bad luck.”
5. Focus on niches
This important! Try to take over a whole industry at once and you’ll inevitably get swallowed up by the competition. Start small and control your own niche before moving into another niche. When you master your small area, you can push on and expand.
You’ll be amazed at how much easier it is to expand after you master your own niche/audience first.
Do you have what it takes? That’s the question I always ask novice businesspeople. You need a plan and you need the right habits if you’re going to succeed.
This article was originally posted here on Entrepreneur.com.
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