If you ask most business owners want they want, they’ll probably tell you that they need more money. But here’s the thing: that thinking is skewed. While getting “more money” is good, it’s better to have something else… Wealth.
Wealth is not just money. Wealth is something far greater. Because money flows in and flows out but wealth sticks around! Wealth is what’s left over; wealth is your net worth; wealth is your key to freedom and to having whatever you want.
There are business owners who are making tens of millions of dollars a year yet they bring home barely anything, and there are business owners who are making far less than that—maybe their business is making only a million a year but they bring home far more. Which would you rather be? (Yeah. Me too. I want to be the guy who brings home a lot of money.)
Here’s How To Get Wealth (It’s Surprisingly Straightforward)
First, start with a powerful, clear vision of what you want in your life. Be big and bold and dream of all the things you can do with your wealth. Will you finally be able to hire a COO so you can step back from your business and take your spouse on that luxurious cruise you always promised? That’s an exciting and inspiring wealth creation vision!
Second, break that vision down into components. For example, you might need to increase sales, hire more people to handle those increased sales, and decrease expenses. Here are a few ideas to help you think about the components that make up your vision:
- Maybe you need to invest in a few new team members so you can generate more income
- Maybe you need to nail down your marketing so it’s more effective and gets more sales
- Maybe you need to market more often
- Maybe you need to sell more stuff to your existing list more often (since they are a more profitable group of customers)
- Maybe you need to fix your operations so it runs more smoothly and lowers costs
Third, set targets for how to achieve that wealth. For each of those components, create targets to help you. If it will take you five years to achieve your vision, set targets for 5, 4, 3, 2, and 1 year, and quarterly, monthly, weekly, and daily targets. Now you know exactly what you have to do each and every day to achieve those targets. It’s clear and precise and built around your vision.
Fourth, start taking action. You know what targets you need to achieve each day so start working on those. Every single day show up to work and focus on those targets. Other things will try to distract you and pull your attention away but you will be more successful when you stick to the targets you’ve set. In some ways, this is the hardest part because it requires focus, discipline, and willpower to work at it even when the storms of life are battering you and trying to pull you off your game. But if you take action day-by-day-by-day-by-day you will hit your targets, achieve the components, and ultimately achieve your vision.
Someone is going to read this and think, “There’s no way it’s that simple.” Guess what. It IS that simple. This is the surprisingly simple recipe that the world’s most successful people use to create massive wealth. You name a successful person in the world (someone who worked to earn their fortune) and they will have done some version of this: set a vision, figure out the components that make up that vision, set targets, and work to achieve those targets.