Leverage – The Dream Builder
You may never have looked at it this way, but while you are working at your job, you are being leveraged. You have a unique skillset, which is what you were hired for. That skillset is being used and often abused on a daily basis by someone far above you on the corporate ladder for a specific purpose. I am assuming that when you started your job, you had dreams – a dream of somewhere you’d like to travel, a dream of someone you’d like to meet, or maybe a dream of a future life that you wish you could have. Is your job helping you realize that dream or did someone hire you to build theirs?
Maybe it hasn’t hit you yet. You love work! You’re accomplishing everything you wanted to accomplish in your life. You would never compromise those dreams you had just to pay the bills…unless you didn’t know there was another way to take care of that money issue. I didn’t know either, until a good friend showed me, so I will provide you the same courtesy. There is a way to achieve your dreams, and it’s by owning your own business. Don’t give up on your dreams, especially when there is a way to make them a reality. Just remember, you need leverage. People work for you, while you enjoy your time. How can you create that for yourself? Start barnstorming.
Residual – A Concept Few Truly Understand
Look up residual in a thesaurus and you’ll see words like enduring and lasting. Residual income is what remains when you have put in the time and dedication to build an asset with purpose. That asset will then provide you with consistent, ongoing income for the rest of your life, whether or not you continue to build it.
A job will never give you residual income. If you don’t show up, you don’t get paid. Additionally, you are paid what your employer says you are worth. If you work 40 hours, you are paid for 40 hours. Do you want more money? You could start a second job, or a third, but you only have so many hours in the day. Think about it – you are trading time for money. There’s one major problem with that – your time is limited. We all have the same 24 hours each day. The question is – how will you use yours?
“Thanks, but I’d rather watch you succeed.”
That is what I hear when someone I’m speaking to is close-minded. In general, I think it’s very important to keep an open-mind – main reason being that opportunity favors those who do. People are usually afraid of what they don’t understand. As I see it, there are two options – prejudge or seek to understand. I choose the latter; I would rather make an informed decision than a blind one. If you’re going to judge (which many will), at least wait until after you fully understand something. If you choose the former, sit back and enjoy the show…you will watch as others succeed around you.
How Bad Do You Want It?
Everyone loves the idea of owning their own business and enjoying the time and financial freedom it would provide, but few will put in the work to make that dream a reality. Dreams don’t come true without action. You have to bust your ass. There will be nights that you come in late and nights that you get no sleep. You’ll spend money and invest hours upon hours of sweat-equity with a minimal return while your business slowly starts to grow. People will doubt you because the average person doesn’t have the will-power to push through the challenges and obstacles they will face along the way. People will judge you and give their opinions of your path, even when you don’t ask for it. This is why the end result is so good. Are you going to let someone else determine your success? Do you really care what they think that much? If you want to be successful, the answer is no. Your opinion is the only one that should matter to you. There is a special feeling reserved only for those that stay the course – freedom, and luck was never a part of it.
Going Global – Social Media’s Potential for Business
Currently, Facebook has over a billion active users. Right now, you could connect with someone half way around the world and have a conversation. Would we have been able to do that 20 years ago? Not a chance. The extent of your network was limited in the past, but no longer. Social media is growing at exponential rates as the Internet becomes more easily accessible around the globe. What can you do to take advantage of that growth? Look into a business that fully leverages social media.
Diffusion of Innovation
If you’ve ever taken a marketing class, you’ve heard of Everett Rogers’ Diffusion of Innovation Theory. An innovative mind comes up with a new idea, and the word begins to spread. Every person who learns of this new idea will adopt it at a different rate (if at all), thereby landing in one of the categories below.
Let’s put this into a business context. If not immediately, the majority of ideas that people create will eventually be monetized for profit. The people who position themselves ahead of the curve are the ones who make the most money. Think of the tech bubble in the late 90’s to early 2000’s. If you had purchased stock in computers back then, you would have been sitting on a beach for the past 14 years. My point is that the only way to take advantage of an idea is to learn about it early, then GO FOR IT. Unfortunately, most people will wallow in uncertainty and wait until it’s too late. Don’t make that mistake.