12 Truths to Create 6 - 7 figure Incomes
OK so we all yearn to earn 6 - 7 figure incomes right ?
There is always the question of "what will it take, what is the hidden agenda", or the "yeah right, as if that's going to happen !"
Below are the 12 Truths You Need to Know to Create 6 or 7 figure Incomes in Business:
This list of 12 was provided by a dear friend, mentor and learned woman who has achieved vastly more than I with less. From her I look up, am inspired, motivated and yearn.
“Nothing simple comes to those who wait” “Circumstances don’t make a Person, they reveal them”
1. Investment: You need to invest money in your business. There is no business in the world that survives without financial input. You will need to spend money going to events, upskilling, marketing, advertising, and running your business - phone, expert advisors etc. Not investing money in your business is like owning a racehorse and only feeding it if it wins a race.
2. Time Management: You need to invest time as well. You’ll have to show up every week for 10-15 hours minimum for 5 years if you wish to create a solid residual income. Going a week here and a week there without doing your 10 -15 hours is like just not opening the doors to your shop - how will customers come in to buy your products? Your business is not a diet - you can't jump on and off when it suits you or doesn't. The good news is, of course more hours focused on the right business activity grows your business faster.
3. Skills Training: You have to continuously learn to skills. Business success relies on mastery of a skill set. Some of the skills you need to learn are Marketing and Sales skills and Mentoring/Coaching skills. You’ll also need to learn to lead a team of people (leaders go the way first, then show the way) and become a great communicator.
4. Target Market: Your warm market will only get you so far. For some people that is zero - others will have a warm market that gets them to 7 figures... either way at some point, you need to learn to market your product to people you don't know, who have a problem that you can solve. It’s a learnable skill - you are a human with a big brain. You can learn to do anything if you’ll just commit to learn, DO, and review consistently and for long enough.
5. Financial Beliefs: You need to overcome your negative money beliefs and the worthiness (or lack of) story you keep running on replay inside your head. There is no amount of poverty that you can acquire that will help you change the world. Being broke does not make you a nicer person. You will need to give this type of thinking up.
6. Status & Recognition: Being obsessed with recognition is a never-ending quest for happiness. Happiness cannot be found in someone else's approval of you, or in fame, or worship, or glory. Happiness comes from knowing who you are, what you value and living in alignment with that... in showing up for what is true to you. Aquiring more shiny things will not make you happy. Don’t get addicted to the idea of being worshipped, glorified, or famous. It will bring you undone.
7. Business Acumen: You need to understand business and financial principles. Things like assets/liabilities, income/expenses, return on investment, budgeting and cashflow. If you don't act responsibly towards money more of it is not going to come into your life. If you don’t learn to have a healthy money mindset and to manage your money properly it doesn’t matter how much you earn, you’ll keep making decisions that return you to broke.
8. Managing Setbacks: You need to learn to value obstacles. You need to learn to see them as a signpost for learning or a change of direction... not as reason to quit.
9. Mental Acuity: You need to understand and plan for the 7 challenges that everyone faces on the road to success. They are Focus, Motivation, Clarity, Discipline, Strategy, Action, Feeling like Giving Up.
10. Communication: You need to improve your communication skills. Written and oral. If you can’t communicate well offline, you’ll likely struggle online. Upskill by learning and practice, practice, practice.
11. Failing Forward: You must be willing to fail fast. Don't wait to be perfect. Test and measure. Course correct. Always be in action.
12. Attitude: There is no 'easy' road to multiple six or seven figures in any business. The roads that do lead there are all paved with a huge work ethic, perseverance, grit, consistency, skill development and personal growth.
Far too many people find or act as if they should have it all with very little effort, many believe it is earnt by servitude over decades, by position and posturing, by ownership and a fear that it can all be taken away by someone younger, smarter, with less experience or less patience. The reality is "awareness is key". Whatever the weather, only clarity, knowledge, humility, perseverance, integrity, self-belief and consistency shall reap the rewards we aim to achieve with of course a large splattering of knowing WHY !! aka what will we do once we achieve, how will we share this knowledge, who shall we enjoy our achievements with and what will that give us and them in doing so
Supporting the growth and engagement of business owners, staff and forward vision is always a privilege.
If it matters to You : it matters to Me
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