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Last weekend was eye opening. I had been invited to attend an Entrepreneurial Seminar and even though I didn’t think I had the time to spend all day Saturday and Sunday, I went anyway. I needed to get out of the house. The leader of the seminar was only 29 years old and I thought, “What’s a kid going to teach me?” Well it turned out, he taught me a lot and that seminar has prompted me to re-access my business plan.
The biggest Ah Hah moment I got, was the idea of not exchanging dollars for hours. Everyone only has so much time on the planet, it’s important to leverage that time. In order to do that, you may have to “give up control” and learn to outsource work to others, in order to create a business plan that makes money when you sleep. That isn’t always easy, but if you want be able to do what you love, and give back to others, with freedom, it’s very necessary. It’s not that I haven’t heard that phrase before, but somehow, this time, it gave me a jolt.
Many of us start a business, but don’t realize that we’ve actually just created another JOB for ourselves. A true “business” is when it runs even if you’re not there. Most businesses would shut down if you suddenly got sick, went on a year’s vacation, or just simply decided you didn’t want to work anymore. Many entrepreneurs have read Robert Kiyoski’s Cash Flow Quadrant, but they are still exchanging dollars for hours.
Note: Be careful in choosing a business that promises Financial Freedom. When you’re dependent on someone else’s company, rather than your own, you take the risk of having that business decide to close, taking away any chance of financial freedom. Z – Just saying. (inside joke)
Ask yourself, “How Can I Make Money While I Sleep?”
Asking a question of yourself, causes the mind to Google itself. If you meditate on this question, you will start coming up with answers.
Another question to ask yourself is:
How can I become more valuable to the marketplace?
In other words; in what way do you set yourself apart and fill a need that will serve people who WANT what you have to offer?
How can I bring that value to the marketplace?
The market will pay you according to your value.
If I had unlimited money, what would I be doing?
It’s important to visualize exactly what your lifestyle will be and what you will do with all your new found riches. If you can’t see it, you won’t believe it, and therefore will not make it happen. You also need to know how to manage that flow of income. Take the example of a lottery winner who loses that money within a year of winning it and ends up homeless. In contrast, if Richard Branson lost all his money, you can bet he’d have it all back immediately.
How am I going to leave a legacy?
How do you want to be remembered when you’re gone? Will others see you as having done something remarkable? Will your kids have great respect for what you have done in your lifetime?
Are you the cause, or the effect?
Dolphin or Tuna? People who are the cause, make things happen. People who are the effect have things happen to them. They are victims. Tuna’s get eaten by sharks.
One of my missions is to help people “make money while they sleep” online using their WordPress blog. There are tons of ways you can make this happen: (ebooks, membership sites, ecourses, affiliate income, etc.)
How Can I Give Back?
Associate your business with charity or cause. Who can you help and promote by using your business?
I’m going to be working to make more money while I sleep. How about you? How are you making money in your sleep? And how are you going to re-access your business plan?