Money Making Strategies
How many strategies do you have for making money?
I ask you this question because this afternoon, I heard Mark Anastasi, a young millionaire, talking about the time, a few years ago, when at the age of 24 he was £7,000 in debt and had to decide whether to buy a cucumber or a few pieces of broccolli for his next meal. He said that when he found himself in such dire straits, he was desperately trying to make money using the only strategy he knew at the time.....looking for & getting a job!
For most of us in the western world, I'd say that looking for a job to make money remains the ONLY strategy we EVER use in our whole lifetime.
If you want to make money, get a good job! If you want to make more money, get a better job! Most of us will spend decades of our lifetime educating ourselves to get that ultimate dream job that will enable us to live the lifestyle of our dreams.
Times have changed!
The difference between someone with an "employee" mentality and someone with an "entrepreneur" mentality is the range of strategies they have for making money.
Typically, an "employee" has only ONE strategy for making money. If they lose their job they are devastated because they equate losing their job with losing their wealth.
Entrepreneurs on the other hand notice that people are buying and selling things all around them. Therefore, they do not equate the loss of ONE client with loss of wealth but just a vacuum that needs to be filled with the next money generating service or product. An entrepreneur uses a RANGE of money making strategies to acquire a flow of money into their lives.
What are you and others around you buying? What are you selling? If you do not have a business, you are probably selling your time. When you go for an interview, the recruitment panel are making a decision about whether your time will generate profit for their organisation.At what price are you selling your time? How profitable is your time?
Let me ask you the question again: How many strategies do you have for making money?
If selling your time is the only strategy you have for making money, notice that times have changed. If getting a "job" is the only strategy you have for selling your time to make money, take a deep breath, relax and think of at least 3 different options available to you. The more options you can think of, the more freedom of choice you have created for yourself!
What money making strategies do you have?
Sunday, October 29, 2006
Monday, October 23, 2006
Going Broke Trying to Make Money!
I was at an Internet Millionaire's Bootcamp this weekend and one of the first speakers asked the audience:
"How many of you have gone broke trying to make money?!"
In a room of about 1,000 people, I'd say at least a couple of hundred raised their hands.
I wondered about the psychology behind the irony of "going broke trying to make money".
There are two aspects to this phenomenon of "going broke trying to make money"
The first is that people don't usually make remarkably high amounts of money while they are doing safe, secure, comfortable 9 to 5 jobs. All the internet millionaires that spoke at the event had suffered extreme bouts of discomfort (homelessness, bankruptcy, boredom) before making seriously high sums of money. The extreme pain they felt somehow propelled them into massive action that produced results.
Tony Robbins often says that "the level of your success will be related to the level of uncertainty you can handle". Taking risks creates a high degree of uncertainty or discomfort and our millionaires at the Bootcamp this weekend had obviously used the pain of their discomfort to produce fruitful results.
The second aspect of this "going broke trying to make money" irony, is not so straightforward. When fear, pain and discomfort are the motivating factors, what happens when the person is comfortable again?
They usually go broke again!!
You will notice whether the people you know are operating from fear-based motivators because their wealth or success goes in cycles. They get rich. They get broke. They get rich. They get broke.
In order to sustain a steady increase in our wealth requires perseverance towards what we feel passionate about rather than trying to escape that which we fear.
Several of the millionaires at the event this weekend mentioned the common refrain "Most overnight successes have spent years in preparation!" In other words, there is no "get rich quick silver bullet"
How do you combine risk-taking, perseverance and reslience in your life & business?
I was at an Internet Millionaire's Bootcamp this weekend and one of the first speakers asked the audience:
"How many of you have gone broke trying to make money?!"
In a room of about 1,000 people, I'd say at least a couple of hundred raised their hands.
I wondered about the psychology behind the irony of "going broke trying to make money".
There are two aspects to this phenomenon of "going broke trying to make money"
The first is that people don't usually make remarkably high amounts of money while they are doing safe, secure, comfortable 9 to 5 jobs. All the internet millionaires that spoke at the event had suffered extreme bouts of discomfort (homelessness, bankruptcy, boredom) before making seriously high sums of money. The extreme pain they felt somehow propelled them into massive action that produced results.
Tony Robbins often says that "the level of your success will be related to the level of uncertainty you can handle". Taking risks creates a high degree of uncertainty or discomfort and our millionaires at the Bootcamp this weekend had obviously used the pain of their discomfort to produce fruitful results.
The second aspect of this "going broke trying to make money" irony, is not so straightforward. When fear, pain and discomfort are the motivating factors, what happens when the person is comfortable again?
They usually go broke again!!
You will notice whether the people you know are operating from fear-based motivators because their wealth or success goes in cycles. They get rich. They get broke. They get rich. They get broke.
In order to sustain a steady increase in our wealth requires perseverance towards what we feel passionate about rather than trying to escape that which we fear.
Several of the millionaires at the event this weekend mentioned the common refrain "Most overnight successes have spent years in preparation!" In other words, there is no "get rich quick silver bullet"
How do you combine risk-taking, perseverance and reslience in your life & business?
Sunday, October 15, 2006
I read something in the "I Ching: Book of Changes" today that reminded me of the cross-cultural misunderstandings that arise around the issue of "equality".
On Page 10 of the "I Ching", the following extract explains the difference between "Receptive" & "Creative":
"It is the perfect complement of THE CREATIVE - the complement, not the opposite, for the Receptive does not combat the Creative but completes it"
Page 11 provides further clarification about the difference between Creative & Receptive):
"But strictly speaking there is no real dualism here, because there is a clearly defined hierarchic relationship between the two principles. In itself of course the Receptive is just as important as the Creative, but the attribute of devotion defines the place occupied by this primal power in relation to the Creative. For the Receptive must be activated and led by the Creative; then it is productive of good. Only when it abandons this position and tries to stand as an equal side by side with the Creative, does it become evil. The result then is opposition to and struggle against the Creative, which is productive of evil to both".
In Chinese philosophy, there is emphasis on the yin/yan balance between feminine/masculine energies and I loosely translated the above extract about "Receptive/Creative" as an interesting insight into gender issues.
I read something similar about Chinese Confucianism in "The Reflecting Glass" by Lucy West & Mike Milan page 134:
"....Confucianism, a source of values and beliefs for many Chinese, teaches that people are not equal. To this day, people in China are defined by their role in society and their contribution to it. Status is influenced by relationship, which is in turn attached to implicit duties and obligations. People are viewed as relational beings, regulated by pivotal relationships that dictate an individual's obligations ('renqing') towards other people. Observance of proper relationships is essential for the smooth functioning of society. Thus, the concept of development coaching, based upon a partnership of equals, may not be compatible with Confucian values, in which a relationship between a 'wise elder' and an 'apprentice' is more common."
end of extract.
I read the above passage in the context of perception of coaching across cultures. However, as with the extract from the I Ching, there are obviously subtle differences in what is meant by "equality" compared with the European view.
What is YOUR understanding of "equality" in terms of race & gender, and how would you explain your perceptions about this? In what way do you think we are equal?
On Page 10 of the "I Ching", the following extract explains the difference between "Receptive" & "Creative":
"It is the perfect complement of THE CREATIVE - the complement, not the opposite, for the Receptive does not combat the Creative but completes it"
Page 11 provides further clarification about the difference between Creative & Receptive):
"But strictly speaking there is no real dualism here, because there is a clearly defined hierarchic relationship between the two principles. In itself of course the Receptive is just as important as the Creative, but the attribute of devotion defines the place occupied by this primal power in relation to the Creative. For the Receptive must be activated and led by the Creative; then it is productive of good. Only when it abandons this position and tries to stand as an equal side by side with the Creative, does it become evil. The result then is opposition to and struggle against the Creative, which is productive of evil to both".
In Chinese philosophy, there is emphasis on the yin/yan balance between feminine/masculine energies and I loosely translated the above extract about "Receptive/Creative" as an interesting insight into gender issues.
I read something similar about Chinese Confucianism in "The Reflecting Glass" by Lucy West & Mike Milan page 134:
"....Confucianism, a source of values and beliefs for many Chinese, teaches that people are not equal. To this day, people in China are defined by their role in society and their contribution to it. Status is influenced by relationship, which is in turn attached to implicit duties and obligations. People are viewed as relational beings, regulated by pivotal relationships that dictate an individual's obligations ('renqing') towards other people. Observance of proper relationships is essential for the smooth functioning of society. Thus, the concept of development coaching, based upon a partnership of equals, may not be compatible with Confucian values, in which a relationship between a 'wise elder' and an 'apprentice' is more common."
end of extract.
I read the above passage in the context of perception of coaching across cultures. However, as with the extract from the I Ching, there are obviously subtle differences in what is meant by "equality" compared with the European view.
What is YOUR understanding of "equality" in terms of race & gender, and how would you explain your perceptions about this? In what way do you think we are equal?
Subscribe to:
Posts (Atom)
