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6 Paths to Financial Freedom

freedomToday is the fourth installment in our freedom series. We’ll focus on financial freedom.

Financial freedom … can you imagine it? To use the lingo from our last couple of posts, it means freedom from money worries or, even better, freedom to choose how we spend and live.

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Celebrating the Success of Others

graduationToday we want to look at how pausing to celebrate another person’s accomplishment can help you achieve bigger success in your life.

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marylynnMy best friend, Jodi, is a smart cookie. She teaches high school students and is the mother of two boys. With all that going, she went back to school to get her Master’s in Education. We recently attended her graduation party.

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georgeI admire her for being able to juggle so many things at once! I’ll bet she needs to catch up on some sleep!

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marylynnI'm so proud of her. She definitely sacrificed to achieve a new level of success in her career with all she had on her plate. That's why I call her "Wonder Woman"!

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george
I noticed her flying around in the sky … now I get it. She was in her invisible plane, huh?

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marylynnJodi's mom, Linda, wanted to do something special for Jodi. So Linda planned a family party with a few surprises. I was one of those! But Linda didn’t have my phone number and she didn’t want to raise Jodi’s suspicions.

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george So Linda enlisted the help of Jodi's oldest son, Collin. He's only eight-years old, but was smart enough to look up the phone numbers on Jodi's cell phone when she was taking a shower!

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marylynn
Ah, kids these days! Would you be able to figure that out, George?

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george I’d like to think that I could! So last weekend, when we walked in, Jodi was talking with a family member. She looked over and saw us but didn’t really respond. She looked away and then looked back again! She was so surprised – shocked, even – to see you, Mary-Lynn.

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marylynnWell, we shed some tears because it had been awhile since we had seen each other. Then we spent the day with her – getting to know her family and friends.

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We relay this story because there’s something really cool about celebrating the success of others. It can inspire you to bigger success in your own life. This works in four ways:

By celebrating, we acknowledge
When we celebrate the accomplishments of others, we remember to acknowledge our own achievements. It’s easy to forget to do this but it’s necessary to keep achieving every loftier goals.

Celebration sparks innovation
As the saying goes, “Success breeds success.” We are often inspired and encouraged to go for what we want when we see other people getting what they want.

Appreciate to be appreciated
When you appreciate the hard work and efforts of others, you're more likely to appreciate the hard work and efforts you put into your success.

Commemorate to remember
We remember achievements that are marked with special occasions. From mini-celebrations to full-blown parties, it is important to celebrate the accomplishments we make along our journey to bigg success!

So let's celebrate an accomplishment of yours! Will you share something that you’ve accomplished recently? Leave a comment below, call us at 888.455.BIGG (2444) or e-mail us at bigginfo@biggsuccess.com.

Thanks so much for reading our post today. Please join us next time when we’ll talk about behaviors that cost money. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

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Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00420-062109.mp3

Related posts

Taking Inventory of Time

4 Secrets to Having All You Really Want

(Image in today's post by jamison)

How to Stay Focused

on_target.jpgHave you ever met someone who really seemed to have it all?

‘Cause they’ve got personality … walk!

Personality … talk!

Personality … smile!

Well you get the idea! So ends our tribute to Lloyd Price and the song You’ve Got Personality. Back to our regularly scheduled program …

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You know they could be a bigg success, but they just can’t stay focused. They start a project but then something else captures their attention. Kind of like the interruption we just had with the song.

Bright, shiny objects

Liz Strauss calls it Shiny Object Syndrome. It’s easy to succumb to bright, shiny objects. We must overcome these distractions if we want to reach bigg success and live our lives on our own terms.

It begins by creating a vivid image of what you want your life to be. With this long-term vision in mind, you’re ready to break it up step-by-step and set a due date for each step.

That’s called a milestone. It’s our exclusive focus day-to-day. We develop a plan to get to the next milestone. It’s helpful to break that milestone down into terms – a quarter or a month.

Then begin each week by thinking about what you need to accomplish this week to reach your goal for the month. Now that helps you determine what’s most important to get done each day of this week.

Then all you have to do is everything you can every single day to get there!

Today is all that matters

It begins with a prioritized list – what must I do today to hit my goal this week?

By having this focus, it keeps us from being distracted by those bright, shiny objects. Here’s how we do it:

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georgeI love spreadsheets so that’s what I use. I divide my tasks every day by priority – “A priorities” are those things I must do, “B” are what I need to do, and “C” are things I want to do. Then I order the tasks within the categories. So the first thing I work on is my “A1” item.

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marylynnSounds like a steak sauce, George! I like the old-fashioned pen and paper. For me, it works better to write out everything on a legal pad. Then every day, I pull off the most important things I have to do from that paper and put it on a sticky note. I have everything on my main list but I put the most important things front and center. Another thing that I really like about this is getting to crumble up those sticky notes when I’ve finished these important tasks.

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georgeI’m glad you pointed that out, Mary-Lynn. I highlight each item in my spreadsheet as I complete it for the same reason. As the day goes on and I see more and more lines highlighted, I get a tangible sense of accomplishment.

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Avoid bright, shiny objects so you can focus on the bigg prize. Start with your vision of what life on your own terms means to you. Then focus today on what’s most important to get there.

Doing the right things leads to bigg success!

How do you keep yourself on task?

Share that with us by leaving a comment below, calling us at 888.455.BIGG or sending us an e-mail at bigginfo@biggsuccess.com.

Thank you for sharing your time with us today.

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Would you like more tips and tools to live your life on your own terms?
Subscribe to the Bigg Success Weekly – it’s FREE!

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Next time, we’ll discuss how opportunity is like a flower. Please join us! Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00387-050509.mp3

Related posts

The Power of Momentum

Climbing The Stairway To Success

Are You Talking to the Right Person

(Image in today's post by sachyn)

No Limits

bigg-success-profiles.jpgWe’re introducing a new feature today called Bigg Success Profiles. We want to feature members of our community talking about what life on your own terms means to them. Today on The Bigg Success Show, we talked with Pavel Sokolovsky. Pavel is one of the founders of an exciting new business, Meet Me at Green. Let’s get to the conversation …

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marylynn
Welcome to The Bigg Success Show, Pavel.

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pavelThanks Mary-Lynn. Thanks George. I’m a long-time listener and first-time caller!

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marylynnWe love talking about life on your own terms and we love hearing the stories of members of our community. So let’s kick it off, Pavel. What does life on your own terms mean to you?

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pavelTo me, life on my own terms has a lot to do with ambition. I believe I’m a pretty ambitious young man and I wouldn’t want anybody to put a limit on what I can and cannot do professionally or socially, for that matter. One of the reasons I went toward small business, and not corporations as many of my classmates did, is because I didn’t want to be pigeon-holed by my level at the corporation. Whether you’re a first-year associate, analyst, or whatever it might be, it tends to come with a lot of strings attached and affects whether or not your ideas are taken seriously. Now I’m sure there are people who break this mold – there are all-stars – but this tends to be the case. So that’s why I went into a small business. I wanted to be able to use my potential to its fullest. I want to explore my limits and be the best business person I can be. Starting my own business allows me to do that because I don’t have a boss saying, “No – you can’t do this project.” I only have the market telling me what it will and will not accept, which is great.

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georgeThat’s awesome, Pavel. Your classmates were going off to Fortune 500 companies and large consulting firms. Did they ever question you or ridicule you for going off on your own?

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pavelLuckily, they’ve all been very supportive of me. They all know that I’m very entrepreneurial. So they tend to accept that. They have their day jobs – from 8 to 6 or 9 to 5, whatever it may be – and I work what I’ll call my extended hours!

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george
I like the way you said that!

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pavelBut we’re after slightly different things. It’s understood that there’s going to be more than one way to get what we need out of life.

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marylynnEverybody for their own terms, right? Pavel, what would you say is your biggest challenge to living life on your own terms right now?

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pavelWhen you’re starting a business, it’s not the same as a regular corporate job because your cash flow is a little more unpredictable. Many times, you’ll find yourself pinching pennies because you didn’t get paid this week. But you keep your head up because you know if you achieve your goals, the money will naturally follow. While your cash flow is tight, you just have to accept it, not spend it, save up, invest in your business and hope for the best!

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marylynnSo Pavel, what are you doing right now to overcome this challenge?

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pavelI try to save up a little in a slush fund to treat myself every now and then and to keep my sanity. I like to go out with my friends. I also have a hobby purchasing books on Amazon. I just can’t stop!

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georgeNice plug! Ca-ching! Now Pavel, what are you doing that’s really fun – either at work or in your personal time?

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pavelMy day job is fun. Meet Me at Green has been fun – programming the web site, organizing the people involved and trying to recruit more members. As this community grows, so does my site and its usefulness to all the members. I’m sure you expected an answer like, “I love to go skiing in Aspen on the weekend” but, in reality, when I work on Meet Me at Green, I am having fun. That’s the best part of it.

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georgeFortunately, or unfortunately, we can totally relate to what you’re saying. It occurs to me, Pavel, you are really into green – whether it be money or the environment!

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pavelThe money is definitely not my number one goal, but it’s a good way to validate what you’re doing.

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marylynnWe wish you the best of luck with your business, Meet Me at Green. Can anybody join?

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pavelWe’re focusing on businesses that are involved in green products and services. But if you have a passion for green, if energy efficiency or environmental awareness is important to you, then please sign up! Membership is currently free.

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Thanks Pavel for sharing what life on your own terms means to you.

How are YOU living life on your own terms?

Please share your story with us by leaving a comment below, calling us at 888.455.BIGG or sending us an e-mail at bigginfo@biggsuccess.com. We may feature you on an upcoming Bigg Success Profiles show.

We thank you so much for reading our post today!

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Get the tips and tools you need to be a BIGG success.
Subscribe to the Bigg Success Weekly – it’s FREE!

___

Please join us next time when we'll talk about the most important thing to find before you start a business. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00383-042909.mp3


Ramp Up Your Savings

uptrend.jpgBigg success is life on your own terms. One of the five elements of bigg success is money. We need to plan ahead so we have enough money to live our golden years on our own terms once we no longer work, another one of the five elements. Otherwise, it’s hard to imagine our golden years being golden.

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The silver lining

There’s at least one silver lining (boy, we’re hitting all the precious metals today) in the dark cloud we’ve been experiencing with the economy – we’re saving money again! It’s not easy to save money, but many of us have realized how important it is to have a reserve.

Financial planners say we should save at least ten percent of our income to put toward retirement. We’ve even heard some recommend twelve percent.

A lot of us face a bigg challenge in socking away that amount of money. Some people may get discouraged because they can’t come close to saving ten percent. So they just don’t save at all.

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georgeI can relate to that because I’m somewhat of an all or nothing guy. But as my dad used to say, “Fifty percent of something is better than a hundred percent of nothing!”

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marylynnAnd nothing is what we end up with if we don’t stash some away now! But there’s no need to get discouraged if you’re not saving all that financial planners recommend.

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Ramp up your savings pain-free

Let’s consider a hypothetical couple that has a household income of $100,000. They should save $10,000 according to the experts, but they’re only able to save $3,000.

However, they are determined to find a way to get to that ten percent. They decide that, one way or another, they will make an extra $2,000 every year, year after year, for the next five years. So they plan to make $102,000 next year, $104,000 the following year and so on. This may come from pay raises, bonuses, or a part-time job or business.

Let’s assume that they’re able to invest all of this extra money in a tax-deductible retirement account so they don’t have to pay any taxes on this income now. They also keep investing the $3,000 base they started from.

By the fifth year, our hypothetical couple is making $108,000 and saving $11,000. So they’re now actually saving a little more than financial planners recommend and they did it relatively pain-free!

Ramp up your savings pain-free

Let’s consider a hypothetical couple that has a household income of $100,000. They should save $10,000 according to the experts, but they’re only able to save $3,000.

However, they are determined to find a way to get to that ten percent. They decide that, one way or another, they will make an extra $2,000 every year, year after year, for the next five years. So they plan to make $102,000 next year, $104,000 the following year and so on. This may come from pay raises, bonuses, or a part-time job or business.

Let’s assume that they’re able to invest all of this extra money in a tax-deductible retirement account so they don’t have to pay any taxes on this income now. They also keep investing the $3,000 base they started from.

By the fifth year, our hypothetical couple is making $108,000 and saving $11,000. So they’re now actually saving a little more than financial planners recommend and they did it relatively pain-free!

  • not being discouraged at what they could save now
  • saving every bit they could now
  • improving it a little bit every year

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The underlying secret

In this simple example is a secret that can help you with all your goals, not just your financial ones. Bigg success is life on your own terms. If you think about “terms” as time frames, you can reach bigg success faster.

We’ve said that you are the entrepreneur of a very important enterprise – your life. You may or may not be an entrepreneur in the traditional sense of the word. That’s immaterial. What’s important is that we can learn a lesson from successful entrepreneurs, particularly those who work with outside financiers like venture capitalists.

Milestones

An entrepreneur and a venture capitalist come to terms and strike a deal. The venture capitalist will invest a large amount of money in an entrepreneur’s company. However, the entrepreneur only gets a certain amount of it upfront. He or she must complete some agreed upon action – for example, get a customer – by a certain time to insure the venture capitalist puts in more money. These agreed upon actions with a deadline are called milestones.

As the entrepreneurs of our own lives, we think it’s helpful to set milestones in all areas of our lives.

Think about your bigg goal.

Then carve it up into milestones – specific activities you will complete by a certain time.

By breaking your bigg goal into little actions with deadlines, you can achieve things that you would think were impossible otherwise.

You can measure your progress each step of the way. You can take corrective action if you’re off the mark. Or if you’re ahead of schedule, you can celebrate your bigg success!

Do you set milestones?

Tell us how you do it by leaving a comment below, calling us at 888.455.BIGG or sending us an e-mail at bigginfo@biggsuccess.com.

Thanks so much for reading our post today!

Please join us next time as we build on this subject of milestones. We’ll talk about creating a cumulative advantage.

Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00371-041309.mp3

Related posts

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Getting Aggressively Passive: Creating A Passive Income That Sets You Free

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(Image in today's post by Duchessa)