Money may not create all of your problems, and for some people, money can make problems worse (if you don’t know how to handle it or haven’t got your priorities correct) – however, for most people money DOES make a huge impact on your life.
For example, people with substantial wealth…
- Can leverage that money to be more creative, innovative and bring more value to the world
- Help fund initiatives and companies that add money to the social system, deliver jobs and benefits to others and multiply their wealth dozens of times over
- Give to charity, build infrastructure and help fund research and development that improve society as a whole
- Take care of themselves and those around them so that they are not a burden on the system and then work to create additional support and value
- Inspire others to follow in their path, improving the collective wealth and balance in society
What is your reaction to these statements?
Do you believe that the majority of rich people do good things for society?
I ask that question because the very first key to becoming rich is to evaluate your own beliefs around having money and being rich.
1. Your Attitude Toward Wealth and Money
What are your beliefs about being rich?
What do you think when you see a rich person?
Are you jealous? Do you get angry? Do you look down upon them? Are your first thoughts that they are greedy?
As we all know, beliefs lead to thoughts which lead to actions.
If your beliefs are at all negative (or even unsure) about money and wealth then this is the first thing you need to work on to become wealthier.
I know many people who secretly want to be rich, but deep inside have a real anger about “the 1%” and feel that being rich is not fair in today’s society.
Wealthy people however look at money a different way.
First, they see the work they do as adding immense value to society…for example, Donald Trump absolutely loves designing and improving property through architecture and development, Bill Gates was fascinated by developing an operating system and applications that made the computer available to ALL.
The money is secondary to adding incredible value to society.
At the same time, if these people had been afraid, angry or opposed to wealth they would never have built the businesses they have…they would have sabotaged their own efforts and potential for fear of appearing or being rich.
So, take a careful look at your thoughts and understand that your beliefs around wealth (often drilled into your by schools, the media, church, and all major institutions that money is bad and represents greed) could very well be holding you back from advancing your passion and true potential.
For many people, resolving the inner conflict around how they think about money is enough to unleash an amazing change in their lives.
2. Add Value…The Bigger The Value, The More Money You Make
I have started and been involved with many businesses over the years, there is a definite rule that the more value you bring to a set of customers in a niche market, the more money you will being in AND the more pleased your customers will be.
In addition, the more money you bring in, the more value you can continue to grow in the future which, in turn, brings in more wealth.
Take Warren Buffet as an example, Warren chooses his investments based on “value” characteristics…in other words, he looks for companies that have reduced value as perceived by their market which impacts their sales, their brand and of course, their stock price and value of their company.
Buffet understands this profoundly and made it his mission to look for companies that have “unlocked” value – perhaps they need a change of management, a different go-to-market strategy, to be linked with another company to unlock their value, etc…
When he finds this, he invests heavily and makes the changes required.
Now this makes him massively rich because he has taken a business that is perceived as very low value and turns them completely around into providing high value – for that he gets paid a portion of the profit.
If you want to be rich, don’t think about what scheme, market or outside person can make you rich, instead think about what value you can bring to a given market.
With our information products, we examine a market closely, understand where the pain and frustration is and then design a program that delivers MORE value than the competition – using this technique we tend to beat our competition in our niche markets.
3. Think Big Scale
If you make “some” money by selling cookies, how can you multiply that by 10X, 100X or more?
What could you do to make 10X more cookies? Do you have the capacity or do you need to invest in more equipment or people?
Do you know the market channels to sell 100X more cookies than you do now? Perhaps you go from selling at a local market to knocking on the door of your local specialty food store or you operate at 3-4 more markets to expand your sales?
Becoming rich often involves figuring out how to take a small sales and production footprint to something much larger.
In other words, knowing how to scale a “Mom & Pop” – hobby business leveraging investment and people is the way to grow any small business into a thriving enterprise.
For entrepreneurs this is often a challenge given that they are so focused on doing everything themselves and running a growing 1-3 person business, they don’t take the time to step back and look at how they blow the walls off of their business and really scale their sales.
If you are ready to move from “wanting” to be rich to actually making it happen, then consider your beliefs and thoughts around money and wealth, become more active at developing value and think about how you scale small sales to much larger sales thinking bigger than most people dare think.
Do this, and you too can become wealthy in a very short amount of time.
