Just as the old blues song goes, “Everyone wants to go to heaven, but nobody wants to die!” So goes wealth. It seems today everyone wants to be rich but few want to work for it. Today the best way to control your destiny and to build equity for yourself is to work for yourself.
In today’s uncertain economic times, jobs are precious and the “protected” job is something of a dinosaur. You’ll bust your buns with long work weeks; non-stop travel; cutbacks that just mean more stress and work for the survivors. You simply must get yourself into a situation where you control your destiny. It’s getting scary when companies cut staff hours to 39 hours a week so they don’t have to pay benefits. Or, loyal employees are laid off weeks before retirement benefits kick in. Or in some highly publicized cases where long term employees lose everything because of fat cat mismanagement.
One solution of this is that if you’re willing to work hard for someone else, you should be willing to work hard for yourself. Find something that turns you on; that you are interested in and then think. That’s right think about how you might make a living by doing that job.
That job that was perfect for me was Business Coaching. It feels like the last 35 years of my career was a “dress rehearsal” for becoming a successful business coach. I own my own business and through my hard work and sacrifice (for myself) I have built a very strong and successful practice. Recently I was honored to have the opportunity to build FocalPoint Coaching in the state of Arizona. I will continue to coach as that is my passion, but I will also be recruiting new coaches to help businesspeople throughout the state of Arizona and around the world. They will control their own destiny and build equity in their own business from their hard work. But the point is we control our own destiny.
Brian Tracy recently published a short article on the ways to become wealthy… and I thought that it ties in nicely to what we’re endeavoring to build here in AZ. So, here it is. Enjoy and take heed to the message. And if you need some help accomplishing everything you want in life, give us a call!
Five Ways to Become Wealthy
By: Brian Tracy
There are basically five ways that you can become wealthy starting with nothing in America based on over 25 years of research into American millionaires.
The Five Roads to Financial Success in America and How to Choose Your Own
There are basically five ways that you can become wealthy starting with nothing in America based on over 25 years of research into American millionaires. Number one, you can inherit it. Less than 10 percent of wealthy Americans inherited any of their money, and it’s less and less every single year.
The Second Way
The second way that you can become wealthy is you can achieve it professionally. You can become a doctor or a lawyer or an architect or an accountant. You can become extremely good at what you do, be paid very well, and hold on to the money.
The Third Way
The third way you can achieve it is you can become a senior executive of a large corporation. You can be highly paid; you can have stock options and bonuses. And if you stay with the company long enough, for enough years, you can be paid enough to become wealthy.
The Fourth Way
You can win it. But only a tiny fraction of one percent of wealthy Americans got that way by winning their money some way or another. As a matter of fact, the odds against you winning the lottery are the equivalent of lightning striking twice in the same place. They’re millions and millions to one.
The Best Way
The fifth way that you can become wealthy is you can start your own business and earn it all by yourself. Starting your own business has been and will always be the high road to becoming wealthy for most self-made millionaires. Entrepreneurship in America offers more opportunities and opens more doors than all other possibilities put together. This is why it has been said that if you have the ability to start your own business and you don’t do it, you are a fool. I’ll repeat that. If you have the ability to start your own business and you don’t do it, you’re a fool.
Where do you start?
You start by getting your finances under control. The very first thing you do is you make a decision to get your finances under control. Some years ago, a man named George Classon wrote a book called The Richest Man in Babylon. It’s a classic on financial success and what Classon said in that book was that the key to becoming wealthy is to pay yourself first. Take ten percent off your earnings, off your gross income every month and put it aside. Learn to live on ninety percent or less of your gross income. So the very first thing that you do is you begin to save your money.
Now, here are two things you can do immediately to put yourself onto the high road to personal wealth:
First, resolve today to begin saving your money a little bit at a time. Set a goal to save 10% of your earnings, to put it away and to never touch it. This will change your life.
Second, immediately register your own business or sole proprietorship. Open a bank account, get business cards and letterhead and create the corporate entity under which you can do business. Your business opportunities will appear far sooner than you think. If you build it, they will come