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4 Strategies to Optimize Your Money Stream Now

Written on February 8, 2012 by George Krueger & Mary-Lynn Foster in Money

We’re always looking at models here at BIGG success. Recently, we’ve been thinking about our prehistoric ancestors.

Here’s the progression: BIGG success is life on your own terms. You own your life. You’re the entrepreneur in charge.

Listen to this post! Click a player to hear George & Mary-Lynn on The BIGG Success Show Podcast (Runtime 5:35)

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So what if you thought about the family unit like an enterprise? We’ll call it the family business.

Our ancestors had well-defined roles for their family business.

The men largely hunted. The women gathered. The children didn’t just play; they helped. They contributed. They learned about their future jobs.

Everyone was involved in the family business. And there was a genius to its organization.

Hunting

Hunting was a risky activity. If the right thing went wrong, you could pay the ultimate price – your life.

The returns were intermittent. Some days, there was a BIGG payoff. On other occasions, there was none.

But make no mistake – the payoffs had to come frequently enough for the family unit to survive.

When they came, the family feasted. When they didn’t, the family survived on the gathered items.

Gathering

Gathering was a low-risk activity. You may get hurt, but you weren’t likely to lose your life from it.

It yielded steady returns. These returns were a nice addition to the family feast when the hunt was successful. On days when there was no kill, the family could subsist for a period of time on what had been gathered.

Two types of income

Modern finance theory works much the same way. It suggests that investors should allocate a portion of their portfolio to riskless assets (i.e. treasuries).

For the rest of it, hold risky assets (e.g. stocks).

Like the family unit of the past, modern investors use this hunting-gathering mindset. Risky assets hunt for intermittent, high returns while the risk-free assets steadily gather income.

The rationale for this is to optimize your money stream. You earn more money given the risk by balancing your portfolio between the two types of assets.

It’s also a clue to optimize your money stream now.

4 strategies to optimize your money stream now

As we said before, BIGG success is about entrepreneuring your life. As the person in charge, you can use the hunter-gatherer model to optimize your money stream now.

Here are four ways you can do it:

Keep your job and start a part-time business

While holding down a job is not risk-free these days, it provides a steady money stream. It’s gathering. You do the work. You gather the income.

In your spare time, start a business. It’s the hunting side. The income you make may be intermittent until you get established. But it will allow you to feast once it takes off!
Build a portfolio career as a business

This is a ramped-up version of the first one. It seems to work particularly well for people in mid-career and beyond.

Instead of trading time for money as you would with a job, turn your expertise or talent into a business.

Instead of only having one customer (your employer), build a business with multiple clients.

Just be sure to not just sell time for money. Sure, it’s a career but why not think BIGG and build a business, too!
Start a business full-time while your spouse holds down a down

Another alternative if you have a supportive spouse is to start a business full-time now. Your spouse can provide the steady income from his or her job.

This is how many couples get started in business. Once the business takes off, the other spouse can work in the business too or start their own.
Do one of the above and invest in businesses

This is the BIGG play. Combine this strategy with one of the others to put your progress on steroids.

Money and time are two of the five elements of BIGG success. They are your two resources.

You only have so much time. You can leverage your time with money.

Instead of working a business yourself, invest in one with someone who does the work. Get your money working as hard as you do. That’s BIGG success.

Want to optimize your money stream but aren’t sure where to start?
Maybe we can help!

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00779-020812.mp3

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Tags: audioblog, bigg success, entrepreneur, family business, finance theory, five elements, george krueger, mary-lynn foster, models, payoffs, podcast, prehistoric ancestors, risky assets

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Why Talented People Often Fail to Be a Success

Written on February 2, 2012 by George Krueger & Mary-Lynn Foster in Personal Growth

With the Super Bowl coming up this weekend, we’re thinking about winners and losers.

We talked with a two-time Super Bowl champ, Howard Griffith, on the show a while back. You can hear what it takes to be a winner straight from the source!

Listen to this post! Click a player to hear George & Mary-Lynn on The BIGG Success Show Podcast. (Runtime 5:05)

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Today, we want to talk about an interesting phenomenon – the most talented people often fail to be a success. Let alone a BIGG success!

We’ve all seen them.
They seem destined to succeed.
They look the part.
They have people who believe in them.
People who say they are the next BIGG thing.

But success never comes.
Why do they fail to be a success?
How can you increase your odds of being a BIGG success?

You have to have to will the win.
Almost everyone thinks they have it.
But let’s dive into this a little further.

Do you have a hunger for BIGG success that can’t be satiated?
It’s a force inside you.
It constantly drives you.
It presses you to boldly go to places you’ve never gone before.
It pushes you out on a ledge without a safety net.
Then you’re a winner!

Are you consumed by this desire to succeed in a BIGG way?
You think about it all day, every day – from the minute you wake up because you have to get going, to the time you can’t get to sleep because there’s still so much you want to accomplish.
Then you’re a winner!

Do you have to do it, do you just have to be a BIGG success?
You cannot accept not winning.
You cannot accept some modicum of success.
You need BIGG success!
You need to stand out in the crowd.
You need to get through the noise.
You need to win BIGG!
Nothing less is acceptable.

How do you know if you have this winner’s mindset? Ask yourself two questions.

How do you handle adversity?

When things don’t go your way, when you appear to be losing, what do you do?

Because you have a choice to make.

Option 1: Beat yourself up

Start a dialog inside your head, or even out loud, about what you don’t know, who you don’t know.

Tell yourself you’re not good enough, you don’t have what it takes to be a success.

Watch the conversation quickly spiral downward. Look at people you know who have succeeded. Get jealous. Tell yourself how easy they have it.

People like them; they don’t like you.

And then just give up. Stop trying. Quit. This is one way you could go. It’s the loser’s way.
Option 2: Double down

But you’re a winner! So when you run into an obstacle, you will double down. You will reach deep within yourself to find a reserve of strength you didn’t even know you had.

You will use this strength to get back up. You will huddle up with key people in your life. You will talk to your coach to see how to adapt.

Then you will run another play. You will keep pushing for the end zone. Play after play, you’ll seek to find your best self. You’ll give everything you have to compete for the BIGG win.

The 2^nd question to ask to know if you have the winner’s mind is the second side of the coin.

How do you handle success?

When momentum swings your way, what do you do?

Again you have a choice to make.

Option 1: Playing not to lose

You can start playing to not lose. This isn’t a conscious decision; it’s a sub-conscious reaction.

You start playing it safe. You stop making the aggressive plays it took to get momentum on your side.

You let fear drive you.

“Oh-my-gosh, I’m doing it! I’m winning! Wow! I had hoped for this, but I wasn’t really expecting it.”

And guess what happens?

Before you know it, you’ve lost the momentum you worked so hard to gain. It’s even harder to get back. You end up losing the game.
Push even harder

But you’re a winner! When success comes your way, you will push even harder.

You have the eye of the tiger, that killer instinct.

You will keep playing aggressively because you know you will win. It’s only a matter a time before you win the game. That’s BIGG success!