In an effort to constantly develop myself, I was watching a video this morning of one of my self development mentors. Within the six minute video, he explained how simple it is to make more money, and why most people don’t.
I’ve outlined below some of his findings. Let’s see if you agree.
First, he explained, in order to make more money, you must first identify what you want. Is is a better car, a bigger house, increased retirement savings, travel more, put the kids through college, start a family?
Once you decide what you want, there are two things you need:
- A good money making idea
- A willingness to follow some simple guidance
One aspect of these two things is that wanting to make money is easy. However,deciding to make money and sticking to it until it’s done is the hard part.
If you’re in business, the focus should be on making money and letting go of everything else that does not make you money. I call these IGAs (Income Generating Activities).
Throughout your business day, ask yourself this question: Is this action making me money, or is it just keeping me busy or a tension reliever?
If it’s not an IGA, I recommend you do less of it and increase your focus on what will get you closer to your financial goals.
If you want to help others with your product or service, let the amount of money you earn be the gauge that shows you how much you’ve shared and how many people you’ve helped. The more money you’ve earned, the more people you’ve helped.
Here’s an exercise that may be an eye-opener for you.
What would happen if you increased your daily earnings by just 1%? Without taking compound interest into consideration, by the end of the year, your earnings would have grown by 365%. So, if you are now making $100,000 per year, by the end of the year, you would be making $365,000. Naturally, with compound interest, the number would be much higher.
So, how do you do it? How do you increase by at least 1% each day?
You do it by focusing on income generating activities and by letting go of what breaks that focus.
People fail financially because they break that focus. They’re going off in too many directions at the same time instead of focusing on their own business or opportunity and sticking to it.
Money is all about freedom in addition to focus. If you want freedom, you need more money.
If you are not already in business, or are in business and have not reached your financial goals, then you need to ask a successful professional that’s in the same business, how they did it. Ask, “what did you do to make more money?” and “how did you make your business so successful?” You’ll be surprised how many successful business owners will share their story with you.
Since you’ll need the mental mindset necessary to accept more money into your life, you’ll also need a personal development professional to help you push through the obstacles, your self doubt and that also helps you push forward.
Never stop developing yourself. Read books, listen to audios, watch videos, and get a mentor for ongoing advice. I do, and it keeps me pushing forward every day, while helping others.
You must have faith that the decision you’ve made to make more money by offering your products or services, will come true in order to create the lifestyle you seek.
Finally, you must also have tenacity. You have to stick with it until it’s done. You have to continue moving forward despite the odds, what others say, and what lies you tell yourself. Tenacity, is holding true to your commitment until it happens.
If you have not made the commitment to have the wealth that you say that you want, I encourage you to stop everything right now and don’t make another move until you’re fully 100% committed.
I can help, if you so desire it. Myself and nine other instructors have been helping people start and grow their own business through SCORE’s Entrepreneurial Success Program and one-on-one counseling for the past 7 years.
The course runs for 10 weeks and within that time we help you create a business plan that when implemented, will help grow your business.
If you can’t make the course, look for other guidance to continue to develop yourself and your business. Strive to constantly increase revenue by at least 1% daily, and you’ll find the success you deserve.