risk | Bigg Success

Tag Archive: risk

Create Your Future for BIGG Success

Written on July 5, 2011 by George Krueger & Mary-Lynn Foster in Money

BIGG success is life on your own terms. It’s about entrepreneuring your life, taking full control to design and build the life that fits you perfectly.

Money is one of the five elements of BIGG success. Money ain’t everything, but it sure comes in handy.

Hear George & Mary-Lynn discuss this post on The BIGG Success Show Podcast. Click a player below to listen:

Standard Podcast: Play Now | Play in Popup | Download

iPhone/iPad Podcast Player

Listen to The BIGG Success</p>
<p>Show #715

How the rich got rich

Would you put all of your money in a single investment?

Of course not. Financial advisors tell us to diversify our portfolio.

You want a portfolio of assets – we often think of stocks and bonds. But the most sophisticated investors also include alternative investments like venture capital and real estate.

“Isn’t that because they’re wealthy?” you may be asking.

According to research, the people who get rich – self-made millionaires – almost always invest in these alternative investments.

The riskiest investment of all

So let’s get back to the point of our original question. We’ve determined that we wouldn’t (and shouldn’t) invest all of our money in a single asset.

So why would anyone count on just one source of income?

Yeah, as in a job.

Doesn’t a job provide more security?

Ask all the people who were laid off and are still out of work.

So what’s the answer?

Don’t put all your eggs in one basket.

In other words, diversify your income just like you would your investments.

A job can be one of your sources of income. We just need to move past this old, tired notion that a job equals security.

Take control and create your future

You and you alone own your life. Take control of it. It’s a very special enterprise.

And you’re the entrepreneur of your life. You’re in charge of it. Think like an entrepreneur. Don’t try to predict the future. Create it.

The secret to doing that relies in moving beyond just having a job. Who can afford to take that much risk these days?

So you start controlling your future by creating a second source of income now.

You may buy a second house as a rental property. There are a lot of great deals right now. Or you may start your own business.

See what we’re doing. Just like sophisticated investors keep some alternative investments in their portfolio, we’re suggesting you earn some alternative income.

Income that offers the potential for significant returns on your time.

There’s the key – time is another one of the five elements of BIGG success. It’s your most precious resource.

But who has the time for a second source of income?

Nobody.

You will never have the time.

You will never find the time.

You have to make the time to be a BIGG success!

If you’re ready to start creating your future but don’t know where to start, maybe we can help.

Image in this post from Eastop

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00715-070511.mp3

Tags: assets, audioblog, bigg success, entrepreneur, finance, financial advisors, george krueger, mary-lynn foster, podcast, risk, self made millionaires, the bigg success show, venture capital

0 Comments

Take It to the Next Level in Your Career

Written on June 6, 2011 by George Krueger & Mary-Lynn Foster in Personal Growth

What would you do if you positively knew you would not fail?

Our last post was directed to people who would choose a career change. In this post, we’ll focus on people who would not change careers.

As a BIGG goal-getter, you may be satisfied with your work but you want to take it to the next level.

Let’s “reverse entrepreneur” this process. Ask yourself: Why aren’t you at the next level already?

It may be that you don’t want it badly enough. It may be that you’re not willing to pay the price to reach it. But for BIGG goal-getters, it generally comes down to one of three things:

What you know

You may feel like you need some education. It may be formal education or, more likely, it is some sort of certification or continuing education within your industry. What’s holding you back? Go and get it. Remember the hardest part is getting started.

Who you know

You may not know a “critical somebody” who can help you get to the next level. Here’s the good news: chances are someone you already know can connect you with them. Just let the people in your network know who you want to meet. Don’t be afraid to ask them to help.

Fear

In many cases, there’s a mental block. You’re scared – scared to take a risk, scared of failing, scared of being embarrassed. Deep down, you may even be afraid of “outsucceeding” your friends. This is often the real source of the mental block.

Now here’s how you get to the next level:

Step 1 – Determine the source from the list above

Do an honest assessment. Talk to people close to you. Reach out to trusted advisors. Do some real soul-searching.

It may be a combination of the two or even all three of the above items. The key is to identify all the things that are holding you back. Then you’re ready for the next step.

Step 2 – Write down your goal

Get it out of your head. Write it down and post it in a place where you will see it every day. Read it out loud in the morning. Repeat this again right before you go to bed.

Find pictures that represent what reaching this goal will mean to you. Post these pictures where you will see them frequently. This step helps you make the intangible goal more tangible by making it visual. The repetition helps seal it in your brain.

Step 3 – Set milestones

Now that you have your BIGG goal, create the stepping stones. Write down the steps you will take to reach your goal. Be sure to include a due date for each step.

Pick out a reward for reaching each milestone. You may even make each reward progressively bigger as you get closer to your ultimate goal. Put up pictures of your reward with the due date so you keep it ever present in your mind.

You may also use a calendar. Put a number on each day to represent how long you have until the due date for your next milestone. Make an “x” as each day passes to help you keep your sense of urgency.

Step 4 – GO!

Nothing happens until you take action. So GO…BIGG success is waiting for you!

Image in this post from amaze646