On The BIGG Success Show, we discuss how to accumulate a nest egg which will support the lifestyle you dream of. Here’s a summary of that discussion.
It’s easier than you might think to achieve financial freedom – even in the midst of a pandemic.
That’s because time is on your side, when it comes to money. It’s a financial concept called the time value of money.
Let’s say you want at least $1 million when you retire at 65. We know – you want to retire earlier than that. We’re glad to hear it! But keep listening to our example so you understand the point. It’s really, really, really important!
We hear it all the time, successful people stick to it. They don’t give up. They try, try again. But sometimes in spite of all that effort, success is still elusive. What should you do? It may be time to abandon ship!
Click the player to listen to this episode of The BIGG Success podcast. Find the summary below.
In our last podcast, we said that persistence is the single most important ingredient for your success. If you persist long enough, you’re sure to succeed! However, you have to be smart about it. There are 4 signs it’s time to abandon ship – some are internal and external.
As BIGG supporters of entrepreneurship, there are things we see new entrepreneurs often get wrong. This week, we’ll share some of the advice we give our clients to help them avoid pitfalls and missed opportunities.
According to Google’s Year in Search 2021 trends, more people searched “how to start a business” then “how to get a job.” We learned of this trend via a tweet from Shopify President, Harley Finkelstein, who predicts that, “This is not just the year of the entrepreneur – this is the start of a new era where being an entrepreneur is people’s first choice for a career.”
We’ve we’ve preached this for years that even if you have a job, it pays to have a business on the side – something that is yours that gives you control of your future.
With that in mind, let’s go to The Professor’s whiteboard for the three missed opportunities when starting a business…
Spin your personal wheel of fortune to turn your main income source into multiple streams of income. This tool is used by 65% of self-made millionaires.
If you’re a business owner, solopreneur, salesperson or other professional – you’re always thinking about finding customers so you create a steady stream of income.
What if you could generate income more predictably?
What if you didn’t have to work so hard to do it?
Sounds great, doesn’t it? Want to know the key? You just have to…
Think like a wild animal!
We say that because, as we were working over the weekend, we had Nat Geo Wild on in the background. We caught several of the Built for the Kill series. The shows we watched were all about Africa’s natural born killers.
It made us think about the hunt for customers. We hasten to add – we’re NOT suggesting that you look at customers as prey.
Unfortunately, plenty of people still do think like that. It’s the wrong attitude, especially today.
But we learned three lessons about putting food on the table, more dependably, with less effort by thinking like a wild animal:
Reduce risk by knowing where you rule.
Lions rule the land. Crocodiles rule the water. As long as they stick to their respective place, all is well.
But when a croc hunts on land or a lion chases prey into the water, they may quickly find themselves in immense danger. The scale quickly tips.
This serves as a reminder for all of us – stick to your niche unless you’re so hungry it’s worth the risk to stray outside of it.
Don’t be a cheetah. They work too hard.
Cheetahs are beautiful animals. We love seeing them run in slow motion. But slow they aren’t – they’re the fastest land mammal. But here’s something we didn’t know before:
Cheetahs expend so much energy chasing down their prey, they can’t even enjoy their dinner! They have to rest first.
And while they rest, they’re vulnerable. Other animals – like hyenas and lions – claim the cheetahs’ kill about 20% of the time.
So cheetahs often find themselves working to the point of exhaustion to put food on someone else’s table.
Yes, they have their niche. Yes, they do well. But they hunt alone. It costs them dearly.
The lesson for us? Don’t be a cheetah.
Go beyond collaboration. Form a team of teams.
Lions and hyenas are bitter rivals. We gained new respect for hyenas. Yes, they’re scavengers. We learned lions are too.
Most people find lions appealing. Hyenas are ugly.
But they feed well! And the real secret we learned from these shows was from the hyenas.
For every five times a lion pride makes a kill, hyenas know about four of them. And they feed on it three of those five times!
We found that statistic staggering. What’s their secret?
They don’t hunt alone. They hunt together. But so do lions. And if you put a certain number of hyenas up against the same number of lions, the lions win every time.
Hyenas are smart. They call in reinforcement – packs of packs you might say. When they have the numbers, they take on the lions.
We can do the same in our businesses. Collaboration is critical today – don’t be an independent business, become an interdependent one.
But don’t stop there – form a team of teams:
So you’re not alone.
So you can call in reinforcements when you need them.
So you don’t have to work so hard to put food on your table.
So you can make more money, more dependably and live life on your own terms. That’s BIGG success!
Let’s talk more about teams. Tell us about you. You can leave a comment below or e-mail us at BiggInfo[at]BiggSuccess[dot]com.
https://biggsuccess.com/wp-content/uploads/2013/07/lessons-from-natures-best-hunters-on-making-money.jpg230445George Krueger & Mary-Lynn Fosterhttps://biggsuccess.com/wp-content/uploads/2015/07/BIGG-Success-Nurturing-Your-Inner-Entreprener.jpgGeorge Krueger & Mary-Lynn Foster2013-07-17 02:30:352013-07-15 19:52:313 Lessons to Make More Money, More Dependably
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