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The Surprising Obstacle to Getting Rich in Your Own Small Business

Don't think about getting rich to be a BIGG SuccessWhat is the main reason many people fail at their own small business before they even get started? The answer may surprise you.

Listen to this post! Click a player to hear George & Mary-Lynn on The BIGG Success Show Podcast. (Duration 3:17)




We hear a recurring tune as we talk with many starry-eyed wanna-be entrepreneurs. It forms a chorus.

“I’m going to get rich!”

They’re enthusiastic. They’re excited. They’re full of ideas. The world is their oyster.

They’ve run the numbers. They are going to take over a market. They’re going to rule the world. Remember, they think…

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Why Hard Work is NOT the Key to Success

achieve BIGG Success without hard workAsk just about anyone and they’ll tell you – hard work is the key to success.

What do you think? Does hard work lead to success? More specifically, will you make more money by working hard?

We vote “No”. Now before you dismiss us, please permit us to explain our rationale.

BIGG success is life on your own terms. The five elements of BIGG success are money, time, growth, work and play.

Four of the five elements are directly involved with the subject at hand – money, time, work and play. Growth is required to understand and, more importantly, live out the concept.

The secret to succeeding without hard work

There’s only one way to succeed without working hard: Spend your time doing work that seems like play.

When you do this, you naturally work more. As you work more, your skills improve. As your skills improve, you make more money.

Now we’ve completed the circle of the five elements of BIGG success!

Of course, it may not all seem like play – especially at first. In the main, you’re doing the work you love. But there may be some parts you’d rather not do.

Fortunately, there’s a simple remedy.

More money and more options

The remedy is to set aside a portion of this newfound money. Use it to hire help.

It may range from a maid to an accountant. Pay others to do the thing you don’t want to do.

Buy more time to do your work which seems like play.

Success doesn’t come from hard work.

The key to success is endurance. You have to persevere in spite of all the inevitable obstacles.

If your work seems like play, you’ll be better prepared to endure. It leads to BIGG success!

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Your Relationship with Money on Facebook

your relationship with money for BIGG SuccessBIGG success is life on your own terms. Money is one of the five elements of BIGG success.

We gladly display our relationship status on Facebook. What if Money reported its relationship with you in the same way?

Listen to this post, click a player to hear George & Mary-Lynn on The BIGG Success Show Podcast! (Runtime 4:20)


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[haiku url=”http://traffic.libsyn.com/biggsuccess/00783-022112.mp3″ title=”The BIGG Success Show #783″]
Your Money might say that it is Single. It meets up with you from time to time.

But it doesn’t feel any sense of commitment. You play around, but Money soon departs to meet up with someone else.

So Money comes and Money goes.

Eventually, you meet up with Money that seems like it wants to hang out with you. This Money reports that you are In a Relationship.

It’s still new…you’re still getting used to having Money around. You’re still getting to know each other.

But at least this Money doesn’t run off with another person every chance it gets.

At some point, you and Money get Engaged. You make an initial commitment to each other.

You begin making preparations to make it all legal. You start to trust Money.

But then, Money calls it all off.

That’s when It’s Complicated. You’re not sure what happened.

Money seemed devoted to you and your future. But it got cold feet and ran off.

You know it’s not you; it’s Money. But you still wonder…what did you do wrong? If you examine the situation, you’ll realize that Money wasn’t giving you what you really needed.

Sure it was fun. You would go out. You would have a great time. But you weren’t building the foundation for a lasting relationship.

So you learn more about relationships with Money. As you discover how to maintain a healthy relationship, you and Money decide to get Married.

The wedding is an informal ceremony. Few people attended. Of course, there was a loved one or two. No minister was necessary.

Just your professional advisors. They were there to help you get what you want out of your relationship with Money.

You’ll want to check in with them from time to time, just to make sure you and your Money are fulfilling all your desires.

Everything is wonderful. You love Money. So much so, that you get possessive.

You don’t let Money out of the house. You try to save Money just for yourself.

But you feel empty. And Money isn’t at its best either. Money doesn’t do well holed up at home.

So you and Money come to an agreement. You will be In an Open Relationship.

You’re still committed to each other. Money wants to help you fulfill your heart’s desire. It likes to get out with you and explore the world.

But it also wants you to willingly share it with other people.

Money is a tool. And not the bad kind unless you turn it into that. Money can be a force for good. But it needs your help.

Money follows your lead. And a healthy relationship with it leads to BIGG success!

What is your relationship status with money?

Direct link to The Bigg Success Show audio file | podcast:
http://traffic.libsyn.com/biggsuccess/00783-022112.mp3

Image in this post from stock.xchng

4 Strategies to Optimize Your Money Stream Now

have multiple income streams for BIGG SuccessWe’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)


iPhone/iPad/Mobile Podcast Player

[haiku url=”http://traffic.libsyn.com/biggsuccess/00779-020812.mp3″ title=”The BIGG Success Show #779″]
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

Image in this post from stock.xchng

Be Lazy to Be a Success

when the lazy factor comes into play for BIGG SuccessA friend of ours recently said something you may have heard before. If you want something done right, get a lazy person do it.

BIGG success is life on your own terms. The first part to reaching that dream is to make sure you’re working on the right things.

But the second part is making sure you’re doing things right. That’s where the lazy factor comes into play.

We often suggest that hard work is a key to reaching BIGG success. It’s a characteristic which the public admires.

But is hard work overrated?

Work is one of the five elements of BIGG success. But so is play.

Life on your own terms may mean more leisure for you. If that’s the case, you better learn all you can from lazy people!

Procrastinate

We’ve all heard the old quote, “Don’t put off until tomorrow what you can do today.”

But lazy people have a different version: Why do it today if you can put it off until tomorrow? And you know what, they’re at least partially right!

If it truly isn’t important, don’t do it. Focus on the few things that will move you forward to BIGG success.

Eliminate

Are there things on your things-to-do list that you roll forward day after day? Why?

Cross them off your list once and for all. If you’ve gone this long without doing them, do they really need to be done at all?

Prevent

We know that prevention is the best cure when it comes to our health. The saying holds true if you want to take the lazy way to success.

When you find yourself in reactive mode, don’t settle for just resolving the issue at hand. Think about how you can prevent it from happening again.

Invest

What you do is part of the equation. But how you do it is important as well.

Lazy people can’t stand wasting precious resources. Invest time, effort, and energy upfront. Figure out how to do the tasks you need to do most efficiently.

Audit

We’ve written this post somewhat tongue-in-cheek. But lazy comes with a stigma which may cause you to miss an opportunity.

We value hard work. We believe that BIGG success comes with a price. However, underlying the points above is a larger point:

Periodically audit your to-do list.

Question everything. Question why you’re doing something. Question how you’re doing it. You may find that playing more leads to BIGG success!