Sunday, April 24, 2016

The Only Way to Get Really Really Rich

Check out this gem of an investment opportunity: It’s a simple investment; you only have to invest almost all of your money. On the upside, after a year you might earn 3% more. The downside, any day you could lose it all for reasons usually outside your control and that you will almost never see coming. Would you make that investment? Of course not, yet millions of people do every day. They go to work for someone else. (Of course the analogy isn’t perfect until you get laid off or fired.)

At a job, you do earn a salary, but when you work for someone else your upside is always capped. Sure, you might occasionally get a raise, but in most cases 3-4% is the best you can expect, but yet your downside is almost always unlimited because getting fired or laid off can make your income disappear overnight and with it the considerable investment you’ve made in time, effort, dedication and sacrifice. Extremely limited upside and unlimited downside – that’s a terrible investment.

If you wish to become really rich, working for someone will never get you there. Working for a salary won’t make you really rich; making only safe income investments won’t make you really rich; investing only in stocks of large companies won’t make you really rich.

Owning a business or businesses could not only build a solid foundation of wealth but could someday generate a huge financial windfall and make you really rich. Clearly getting really rich in financial terms is a result of investing in yourself and others; of taking risks; of doing hundreds of small things right and then doing one or two big things really right.

There’s another way that by owning a business you get really rich – really rich in life. By asking how it feels to be an entrepreneur many usually gush about the challenges; the responsibilities; the sense of mission; the sense of purpose; the sense of fulfillment and excitement of working with and for a real team; the amazing feelings of empowerment and the control over their own destiny.

The only way to become really rich both financially and really rich personally – in other words, really really rich – is to start your own business – even if it is just on the side; even if it is just a slightly stepped up hobby. There’s no reason not to. You don’t even have to quit your job - right away, probably, you shouldn’t anyways. One of the best ways to minimize your risk is to keep your full time job while you build your foundation for success. Plus the basics for starting a business are easy – you can learn them in one day.

Here’s the deal, in return for less freedom, less control and less fulfillment, every day you go to work for someone else your upside is always capped and your downside is always unlimited. The downside for entrepreneurs is also unlimited but in return, they enjoy the possibility of an unlimited financial upside and an unlimited personal upside.

So, take a chance on yourself. Try to get really really rich. Maybe you’ll only become really rich, but one out of two is still really awesome and you will have achieved it on your own terms.

I'm so excited to share this information with you. If you have enjoyed the information or feel that it would benefit someone else, please share it. If you have any comments, please post them below, otherwise, feel free to contact me.

Sunday, April 17, 2016

13 Ways to Improve Your Life
Written by Jim Rohn

We can all go from wherever we are to wherever we want to be. You’ve just got to fight for it.

How dramatically we can change our results is largely a function of imagination.

In 1960, it was a technological impossibility for man to travel into outer space. However, within 10 years, the first man stepped out onto the surface of the moon. The miraculous process of converting that dream into reality began when one voice challenged the scientific community to do whatever was necessary to see to it that America "places a man on the moon by the end of this decade." That challenge awakened the spirit of a nation by planting the seed of possible future achievement into the fertile soil of imagination.

With that one bold challenge, the impossible became a reality.

The same principle applies to every other area of our life.

Can a poor person become wealthy? Of course! The unique combination of desire, planning, effort and perseverance will always work its magic. The question is not whether the formula for success will work, but rather whether the person will work the formula. That is the unknown variable. That is the challenge that confronts us all.

We can all go from wherever we are to wherever we want to be. No dream is impossible provided we first have the courage to believe in it.

Here is how you can do that—13 ways to improve your life:

1. Face your fears.
That's how you conquer them. Don't dismiss them; face them. Say, Here's what I'm afraid of. I wonder what I could do to change that. Face your fears today.

2. Exercise your willpower to change direction.
You don't have to keep doing what you've been doing the last six years if it's not yielding the benefits you want. Pick a new destination and go that way. Use your willpower to start the process. You don't have to repeat last year. Clean up the errors. Invest it now in the next year. Watch it make the difference.

3. Admit your mistakes.
Sometimes you have to admit them to others. Here's one of the best phrases in the English language: "I'm sorry." Those words could start a whole new relationship. They could start two people going in a whole new direction. Admit your mistakes to yourself. You don't have to babble about them to everyone in the neighborhood. But it doesn't hurt you to sit down and have a conversation with yourself and say, There's no use kidding myself. Here's where I really am. I've got pennies in my pocket and I've got nothing in the bank. That's what I said after a Girl Scout left my door. I had a conversation with myself and I said, I don't want this to happen anymore.

4. Refine your goals.
Start the process. Set some higher goals. Reach for some higher purpose. Go for something beyond what you thought you could do.

5. Believe in yourself.
You've got to believe in the possibilities. You've got to believe that tomorrow can be better than today. Believe in yourself. There isn't a skill you can't learn; there isn't a discipline you can't try; there isn't a class you can't take; there isn't a book you couldn't read.

6. Ask for wisdom.
Ask for wisdom that creates answers. Ask for wisdom to deal with the challenges for today and tomorrow. Don't wish it was easier; wish you were better.

7. Conserve your time.
Sometimes we get faked out. Motivational speaker Bill Bailey says the average person says, "I've got 20 more years." But Bill says you've got 20 more times. If you go fishing once a year, you've only got 20 more times to go fishing, not 20 years. That fakes you out.

8. Invest your profits.
Here's one of the philosophies that my mentor, Earl Shoaff, gave me: Profits are better than wages. Wages make you a living, profits make you a fortune. Could we start earning profits while we make a living? The answer is yes.

9. Live with intensity
You might as well turn it up a notch or two. Invest more of you in whatever you do. Be a little stronger; be a little wiser. Step up your vitality contribution. Put everything you've got into everything you do and then ask for more vitality, more strength and more vigor, more heart and more soul.

10. Find your place.
If you just work at a job, find the best place you can serve well, and sure enough they'll ask you to occupy a better place. Keep doing a job well; do the very best you can. That's your best way out.

11. Demand integrity from yourself.
Integrity is like loyalty. You can't demand it of someone else; you can only demand it of yourself. Be the best example of loyalty and you'll get loyal followers. Be the best example of integrity and you'll have people around you who have integrity. Lead the way.

12. Welcome the disciplines.
I can't give you much better advice than that because disciplines create reality. Disciplines build cities. A well-disciplined activity creates abundance, uniqueness and productivity.

13. Fight for what's right.
It’s extraordinary to be able to say: “I fought for my kids; I fought for what was right; I fought for good health; I fought to protect my company; I fought for a good career that would bless my family. I fought a good fight.” It's good to fight the encroachment. Opposites are in conflict and you're in the middle. If you want something valuable, you've got to fight for it.

Jim Rohn, America's Foremost Business Philosopher, reprinted with permission from Jim Rohn International © 2016. As a world-renowned author and success expert, Jim Rohn touched millions of lives during his 46-year career as a motivational speaker and messenger of positive life change. For more information on Jim and his popular personal achievement resources or to subscribe to the weekly Jim Rohn Newsletter, visit www.JimRohn.com.

Sunday, April 10, 2016

The Money Value of Time

In life, we are either investing our time or we are spending our time. If you are spending your time all of the time and just wasting it, then it is going to be tough to move ahead in life. If you are investing your time, growing yourself, doing the work that you need to be doing to build something great then you are going to get a return over time.

The Time Value of Money is a calculation used to determine what amount of money you have today will be worth some point in the future by adding in an estimated amount of interest or inflation for that time period. It’s a concept that you may have heard of it if you do any saving or investing, but in my experience not too many people have really heard of it.

Although the Time Value of Money may be one of the most important concepts to understand, and I have written plenty of posts on this topic, today I want to focus on the Money Value of Time. The Money Value of Time is a phrase that demonstrates the theoretical concept that there is a cost to participating in any activity – the thing is, is there a return?

Every person who earns an income has some hourly wage regardless of whether they are paid a salary, a straight commission, profit, bonuses, or any other type of compensation plan. We all have an hourly wage. Take a person’s annual income and divide it by the number of hours they work in a given year and you’ll come up with their hourly rate of pay – the Money Value of their Time. For example if you make $40,000 a year you make $16.67 an hour. If you make $100,000 a year you make $41.66 an hour. If you make $250,000 a year you make $104.17 an hour. That’s assuming a 50 hour work week. If you make $500,000 a year you make $208.33 an hour.

So hopefully you realize that anything that wastes your time is a waste of your money. So, if every hour of yours is worth anywhere between $16 and $208 an hour, anything that is wasting your time is a waste of your money and you really need to start looking at that. The cost of participating in any activity varies from person to person based on their income and how much time they spend on any given activity. Any time they’re spending on non-income producing activities has a negative impact on their ability to make more money because it is time they are not spending on things that do generate income assuming their pay is somehow tied to results. Like, waiting in line for that morning coffee at Starbucks has a cost, the time you spend folding laundry or mowing the lawn has a cost. Being on hold waiting for a customer service agent has a cost.

The Money Value of Time concept helps you understand that anything that wastes your time is a waste of your money. Even if it’s not in dollars – there is always the opportunity cost, that when you are doing one thing, you are not doing another more important thing that might bring in an income. So, the goal of knowing and calculating the Money Value of Time - of your time - is not necessarily to make you perpetually evaluate every single second of every day, it is more of an effort to demonstrate how many high performing people think about time compared to the average or low performing person.

On any given day, most people waste a tremendous amount of time. The average person spends one hour a day just looking for stuff. Many of us waste a good bit of time wondering around in semi-mindless meandering among infinite mounds of minutia. Truth be told, we are usually not even present to how much time passes before we finally wake up. We need to make the connection between time and how valuable it is and whether we waste it or invest it.

The more successful the person, the more intentional and protective they seem to be about their time. It’s not because they’re arrogant, evil, uptight or pompous, because they realize that time is one of the truly finite and limited resources. This understanding creates an otherwise unexplainable urgency for them to get things done – and not just at work. This line of thinking is not suggesting that you should be the most important thing in your life, but it should be a reality check that people who seem to get the most out of life are highly conscious, deliberately intentional and relentlessly protective of how they spend their time because they know there is a great cost. So, just reading this cost you something and I hopefully it turns out to be a worthwhile investment for you. So, there’s always a cost. The question is, are you mindful of the cost and are you calculating it carefully so that you don’t inadvertently end up spending too much.

If you don’t manage your time, somebody else is going to manage your time. Don’t let life just happen to you. Be very conscious of making sure that you have some control over it.

I'm so excited to share this information with you. If you have enjoyed the information or feel that it would benefit someone else, please share it. If you have any comments, please post them below, otherwise, feel free to contact me.

Sunday, April 3, 2016

Spring Is the Season of Opportunity—Don’t Waste It

Everyone has to get good at one of two things: planting in the spring or begging in the fall.

I know the following things to be true: Life is about constant, predictable patterns of change. The only constant factor is our feelings and attitudes toward life. We have the power of attitude, and attitude determines choice, and choice determines results. You cannot change the seasons, but you can change yourself.

I am convinced that, as human beings, it is our natural destiny to grow, to succeed, to prosper and to find happiness while we are here. That we must make a constant and conscious effort to improve ourselves in the face of changing circumstances.

Let’s talk about spring. Spring is the season of activity and opportunity that follows the turbulence of winter. It’s the season for entering the fertile fields of life with seed, knowledge, commitment and a determined effort.

However, the mere arrival of spring is no sign that things are going to look good in the fall. You must do something with the spring. Everyone has to get good at one of two things: planting in the spring or begging in the fall. Take advantage of the day and the opportunities that spring can bring.

Some people plant in the spring and leave in the summer. If you’ve signed up for a season, see it through. You don’t have to stay forever, but at least stay until you see it through.

It is the promise of spring that as we sow, so shall we also reap. For every disciplined human effort, we will receive a multiple reward. For each cup planted, a bushel reaped. For every good idea given to another, many shall be given to us in return. For every act of love given, a life of love in return.

Just remember, it is a natural characteristic of springtime to present itself ever so briefly, or to lull us into inactivity with its bounteous beauty. Do not pause too long to soak in the aroma of the blossoming flowers, lest you awaken to find springtime gone with your seed still in your sack.

With the intelligence, wisdom and freedom of choice given to us as humans, exercise the discipline to plant in spite of the rocks, weeds or other obstacles before you. The rocks, weeds and thorns of the world cannot destroy all your seeds if you plant massively enough and intelligently enough.

Choose action, not rest. Choose truth, not fantasy. Choose a smile, not a frown. Choose love, not animosity. Choose the good in life in all things, and choose the opportunity as well as the chance to work when springtime smiles on your life.

Spring shows us that life is truly a constant beginning, a constant opportunity and a constant springtime. We need only to learn to look once again at life as we did as children, letting fascination and curiosity give us welcome cause to look for the miraculous hidden among the common.

Get busy quickly on your springs—your opportunities. There are just a handful of springs that have been handed to each of us. Life is brief, even at its longest. Whatever you are going to do with your life, get at it. Don’t just let the seasons pass by.

Jim Rohn, America's Foremost Business Philosopher, reprinted with permission from Jim Rohn International © 2016. As a world-renowned author and success expert, Jim Rohn touched millions of lives during his 46-year career as a motivational speaker and messenger of positive life change. For more information on Jim and his popular personal achievement resources or to subscribe to the weekly Jim Rohn Newsletter, visit www.JimRohn.com.