Tag: goals

Minding Your Own Business

The concept of minding your own business means that while you are grinding away at your day job you need to be investing in your future and minding your own business and working on your side hustle. Pretty soon you’ll be able to walk away from your day job and mind your own business full time.

The best way to do this is through the acquisition of real estate.

Let’s take a quick look at where you are losing all your money… taxes.

Taxes have been around since 1913 in the U.S. (earlier in England). While the original intention was to only tax the wealthiest of the population, obviously that’s trickled down to the masses, including those in poverty.

Now, keep in mind the more money you make the more taxes you pay. The wealthy know a way of getting around this-form a corporation. Corporations offer tax benefits and protect you from lawsuits. To learn more about this talk with one of our business coaches or your attorney.

We’ve all heard the golden rule of Pay Yourself First.

But, many of us don’t do it. Until you learn and put this rule into effect, you won’t have any chance of getting out of the rat race. What this rule does is force you to come up with more income to pay your expenses.

There are some key areas of finance you should learn about, taking classes is one of the best ways to do this. Here are the basics you should learn:

 

Accounting

It pays to know how to read financial statements. When acquiring businesses or assets you need to quickly see the financial standing of the company you are acquiring.

Many grown adults do not know how to balance a balance sheet. In the long term, this knowledge will pay off for you and your business.

 

Investment Strategy

This skill will sharpen with experience. Talk to investors and observe how they play the game.

 

Market Behavior

Know the laws of Supply and Demand. No business owner can do without understanding these basic principles of the market. Bill Gates saw what people needed. Open your eyes to opportunities. Look at what sells and who buys.

 

Law

Grow your business within legal boundaries. Know your corporate, state, and accounting laws.

Once you know these areas of finances you can make them work for you. The rich practically invent money. You have to know where to find a great deal. Let’s continue with real estate. Look for houses in trouble or find the court in your area that handles foreclosed, police impound or other real estate situations. You can either renovate and sell or rent for residual income.

So, essentially there are two main types of investors:

  1. Those who buy pre-packaged investments
  2. Those who create their own investments

You know which are the most successful. In order to be one of those people, you need to know what to look for and how to respond.

You must:

  1. Find a good deal other people have missed.
  2. Raise the capital needed for the transaction.
  3. Put together a svelte team to execute the plan.

There is risk involved in every acquisition. The goal is not to avoid the risk, but to respond to the risk with confidence and a steady hand.

If you need help identifying potential money-makers, where to get the capital you need, and how to put together a smart team, try our GUIDED TOUR to gain access to our resources and tools.

Regardless of what stage you are at with your business, one of the main things you must work on is your mindset. To find true success in your life, implement the strategies in Mindset Questions: The Real Secret to Success. You can also gain daily inspiration through these podcasts.

Daily Success Strategies – Know Your WHY

http://www.JeffHeggie.comYou can find the full Daily Success Strategies library at: https://jeffheggie.com/daily-success-strategies/

[Transcript]

Speaker 1: (00:00)
Hey, this is Jeff Heggie. Thanks for joining again or if this is your first time, welcome to our success strategies is something I started just kind of to talk about different things we can be doing to make sure that we’re staying productive and getting things done while we’re facing this coronavirus pandemic and today what I want to talk about are a couple different things. One is as we’re in quarantine or social distancing, whatever you’re having to do right now, how important it is to still stay connected, staying connected with your team was your employees with those that you work with, but also with friends and family and different stuff like that. But how do you do that when you’re in quarantine? One, pick up the phone, text, whatever you want to do. Use a zoom call. There’s a lot of ways we can still stay connected.

Speaker 1: (00:47)
You know, yesterday was my wife’s birthday and we’re in quarantine and how do you throw a surprise birthday party for someone when you’re in quarantine? We had our out in our front yard eating, eating cake and celebrating her birthday. And we had arranged to have a lot of friends and neighbors just drive by and come say hello, honk, rolled down the windows, wish her happy birthday, that sort of thing. So there’s a lot of ways that you can still stay connected with people and I think it’s really important to make sure that you’re doing that for yourself, for others and especially for your team. So that’d be the first thing I want to talk about. The other thing was, the topic of knowing your why Simon Sinek. Uh, you know, I love how he’s taught that. That’s something, that’s how I first came to know who he was when he talks about knowing your why.

Speaker 1: (01:35)
He says, once you discover your ‘WHY’, you’re better able to align your beliefs with every choice and action that you take in order to do greater things and get more from fulfillment out of the things that you do. Um, he talks about a lot about it with companies, but on a personal level too, you know, you’ve got to know what your why is as you’re making choices and doing different things. People, the way he said it with companies is people don’t want to buy what you do. They want to buy why you do it. And so really knowing what your why is an important thing. And I think a lot of people believe that they know what their why is, but they don’t know it on a deeper level. And the reason I got thinking about this was for a couple of reasons. Um, I wrote an article in my blog on August 1st of 2019 and it was called seven levels deep.

Speaker 1: (02:27)
And over the last couple of weeks it’s been the most popular article on my website on www.JeffHeggie.com. So if you want to learn more about this, go, go check out that article. I talk about Simon Sinek and I talk about the seven levels deep exercise, but I also on www.JeffHeggie.com my momentum training is free right now. And this is one of the things that I talk about. I go through this exercise, really learning what your why is. And so if you want that free momentum training, go to www.JeffHeggie.com And you can signed up on that and take a look at that and learn from that. But you know, as as a way of motivation as well, there’s a lot of things that when things get tough and we go through hard times or we’re in quarantine and we have a day that we don’t have much motivation, it’s what’s the why behind what you’re doing that’s going to drive you and keep you motivated and get you up in the morning to go do things.

Speaker 1: (03:27)
And as I said, you know, a lot of people think they know what their why is, but in reality, they don’t know it on a deeper level. But once you figure it out on a deeper level, it’s that much more meaningful to you and it’s that much more effective in keeping you motivated and keeping you moving forward. So really encourage you to go www.JeffHeggie.com and get that free motivational Momentum Training. And I think it’s the third video that I talked about this and it’ll take you through an exercise to look at some of your goals that we figure out throughout that course and figure out what your why is behind each of those and really find a deeper level to it. And then the other thing I just want to remind you about tomorrow, Thursday the 16th, um, 12 o’clock, Arizona time mountain standard time.

Speaker 1: (04:12)
I’m hosting my free, virtual focus group for business owners. We’re going to be talking about different marketing strategies and things you can implement right now while we’re in the middle of this pandemic. And you can be running your business as usual, but love to have you join there as well. You can sign up for that. Go to www.JeffHeggie.com and scroll down to the bottom where the courses are and everything and you can do that. Or go to www.JeffHeggiecoaching.com/webinar and register there. But love to have you join us there. We’re going to talk about a lot of great marketing ideas, but also today’s message. Knowing your why. Really want you to figure that out and use that as something that’s going to keep pushing you forward and keep motivating you to do the hard things while we’re in this pandemic. So go to www.JeffHeggie.com Find out more about that. If you have any questions, contact me directly, jeff@jeffheggie.com send me an email. I’d really love to hear from you. Thanks and have a great day and we’ll talk to you again tomorrow.

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