We’ve all worked jobs we hated. We were underpaid, underappreciated and bored out of our minds. We either quit these jobs or were fired for poor performance because we just gave up. Instead of taking that approach you need to consider every job an opportunity to learn something new that you can apply down the line to find success.
When you give people the tools they need to come up with unordinary solutions, you are enhancing their lives for the long run. You need to take this approach. What if one of your terrible jobs had been one with no pay at all and you needed to come up with some ingenious ways of making money? I bet you could have found a diamond in that rough. This idea can also be used in your own company.
Now, I don’t recommend going into the next meeting declaring that no one will receive pay anymore, but you can tell them that their potential raises, bonuses and other perks are now dependent on their creativity in ways to enhance business.
Let’s talk about a great concept called financial literacy. This certainly isn’t something they taught you in school but is still essential to know. So, what is financial literacy?
The old school way teaches people to be good employees and not employers. This mindset will never make you wealthy. You need to focus on becoming a good employer. You also need to learn how to not only attain wealth but sustain wealth for generations. This is what financial literacy is all about.
So, how do you get out of the rat race and start working toward a wealthier future? You need to understand the difference between an asset and a liability. Take a look at your own life and you’ll probably find the following:
You’ve probably been fooled into thinking things like your house, car and entertainment system are assets. They aren’t! Assets should be continuing to MAKE you money. When you continue to struggle, you are not building wealth. If you’re primary income is from wages and each time you make more money, you pay taxes-you’re not really creating wealth either, are you?
So, if buying a house isn’t an asset (and, it’s not because you spend about 30 years of your life paying it off), then what is. Here are some of the best assets to attain and when you can start to actually see wealth being created because of it:
Average time of holding on to an asset before selling it for a higher value:
Stocks (Startups and small companies are good investments)
Royalties on intellectual property
Valuables that produce income or appreciate
So, here are the steps to getting out of the rat race and onto your journey of creating wealth:
Understand the difference between an asset and a liability.
Concentrate your efforts on buying income-earning assets.
Focus on keeping liabilities and expenses at a minimum.
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, firstname.lastname@example.org 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.