It is not how much money you make that make your net worth, it is your network. Eared it already, right? But it not where I wanted to bring you here. It is really important to surround yourself with successful people.
You become the average of the five people you spend the most time with. This also is a frequent quote, that is also true. Right here in these two line you really get a big part of your business success and self development improvement.
But what I really wanted to say now is that you only have the money left after your expense. I first understand this with rich dad poor dad book from Robert T. Kiyosaki. The thing I learn from him are still sinking in. There is so much powerful stuff into this book.
The first thing he explain is the quadrant: Employee, self-employed, business owner and investor. He tell that in the left quadrant you work for money, you stop working you stop being paid. One hour one dollar, I like to say, even as an employee I make more then a dollar per hour, for the example I found it funny. The right side is where it become powerful, make your money and idea work for you. Which side you want to be in?
E= Employee, he work for someone, he get paid per hour worked
S= Self-employed, he own a small business, the time he work get paid
B= Business owner, he got a system that work for him
I= Investor, he got his money working for him
A good wealth advise is to spend your money on thing that will provide you more time and money in the future. Invest on thing that will provide you more and boost your result with less effort and time.
As an example, let say you have to email hundred of potential costumer each week, do it one by one might take 8 hours. 20$/hour X 8= 160$
Not imagine you invest into a autoresponder that will send subsequent email to your potential costumer, it cost generally 20$ per month! You can even make a special sequence that will bring your prospect into a follow-up to bring them value all week and after a couple email with all the value they got freely from you they will be more prompt to buy from you.
Solo= 20$/hour X 8 = 160$/week X 4 = 640$ per month and 32 hours spends with low result
System= 20$/month + the building of your email 8 hours X 20$= 160$ + 20= 180$ and 8 hours spend for max result
Can you see how it work, you always got to ask yourself, how is your time worth and what could I do to have the maximum result with the less time, this is how rich people think. Invest in yourself first then build a system to provide value and your talent the world.
Try to help the most people you can possibly help. This is the best advise I can provide you.
In his book he also talk about liability and asset. The difference is quite simple.
Liability= thing that cost you money, and take money to operate it: a car, a boat, a trip, a house, everything that not bringing any money in your bank account after the purchase, even cost you more in the future
Asset= Investment that continue paying you money after the purchase= real estate, a chalet that you rent, a profitable business or system, dividend stock, computer to build you business or mining or whatever project that can pay you in the long run.
The money that you invest today is the reason you’ll reach freedom tomorrow!
Count your time versus the cost, as an example; I am taking pine pollen, it is expensive, but totally worth it since it help with my recuperation, power and the balancing of my hormone. It cost 100$ CDN for 250 gram, I calculate that I can harvest 2 lbs of it in 2 hours + time to set up them to dry, 1 hour + the time to extract the pollen 8 hours
2+1+8= 11 hours X 20$/hour= 220$
2 lbs = 1000 gram approximately, 1000/250= 4 X 100$= 400$ > 220$ Canadian Dollar to be exact
See what I meant by count it. Also I have to enjoy the sun, breath fresh air and chill with my harvest buddy for 2 hours!
I am so grateful to stumble on this powerful knowledge my wealth is growing exponentially everyday, since I invest in my self first. The rest will come with discipline and calculated risk.
Risk always need to be calculated, but should take you out of your comfort zone. Even if you fail, as long as you learn. You can and shuld track all your learning and what you are grateful for and share it to the world to bring value and credential early on, so eventually you can build your brand on your acquired wisdom and have value content to share!
So to recap;
-Invest in yourself, to get more thing done with less time!
-Count all of your expense versus time gain, is it worth it. I only pay myself 20$ for now but it is only an example. my time worth more everyday! This is what I gain net at my job now.
-Build system to work for you, ask advice and dare mighty thing
-Put money aside every payday and make it work for you
-Track your result, your learning and what you are grateful for
Those five thing are pretty simple to say, but they take pro’s to get it done correctly and quickly, you can always try by yourself. But if you count the time you’ll spend, the effort you’ll put in vain, all the information outdated you get it might discourage the most persevering one of us.
It is wise to start on the good trail, what it will cost you to spend you’re precious time in vain? You better off investing into a proven formula to build your system on the right track in the first run.