Who has been invited to a dinner or get together only to be blindsided by a once in a lifetime, ground floor opportunity to start your own business?
How many of you have fallen for a “get rich quick” scheme? Well, I have - many, many times.
Direct marking companies have great products and a good sales model. The 1% of the people who embrace the model, work hard for years and develop enviable leadership skills will create a life of incredible wealth, freedom and residual income. I, however, am not that person. I have tried:
1. Amway – cleaning products
2. Big Planet – early internet provider
3. Mary Kay - cosmetics
4. Ambit - energy
5. Genesis Pure – food based supplements
6. Nerium – skin care
7. Monat – hair products
Each company has high quality products or services and an income model that, with the right level of work and dedication, will craft the life of your dreams. They just did not work for me. I still use some of their products because I love the results. However, they did not make me a trip-winning, cruise-taking, multi-millionaire after I called five friends who called five friends.
I am embarrassed to admit I have sat through more than one presentation on how real estate can make me rich. I am addicted to the “fixer upper or flipper” HGTV shows and am a frustrated contractor. I really believed that I could make loads of money on house flipping. Well, sadly, I was WRONG. I have never made money flipping real estate and am currently (still) the proud owner of a two bedroom, one bath condo in an “up and coming neighborhood” that is not worth what I paid for it before the remodel costs.
Now Madoff, the modern day figure head of the Ponzi scheme. Have you ever had “that” talk with a family member, friend or even your financial advisor? The “get in on the ground floor and you’ll be rich” talk. I have – and fallen for it a couple of times. I spent $100,000 on an aircraft “flip” opportunity that eventually cost me $4,000,000 thru a series of further bad decisions.
All of these mistakes and I am a smart, financially savvy person (ok - I can hear you laughing at me). The point of the “mea culpa” is not to illustrate my financial foibles, but to show that we all fall for some type of easy money opportunity.
What all of the things above have in common is that I did them just for money! Not for passion, not for love of the business or task, not as a pathway to a better life. Just to make some money. I fell into the “love of money” category and I was rewarded with the separation of my money from me.
However, when I invest in things I love and start businesses I am passionate about making money is the by-product. I don’t “bank in my head” all day. I spend my day invigorated about what is next on the to-do list and almost never give a thought to making money at it.
One of my favorite quotes is by Jim Rohn – “Learn to work harder on yourself than you do on your job. If you work hard on your job you’ll make a living, if you work hard on yourself you can make a fortune”.
It is so true that when you only work for the money you have a JOB. When you can get paid for what you like, or love, to do you can create a rich life!
So before you start your path to “get rich quick” consider some the things I learned (the hard way):
1. Instead of focusing on trying to make money, put your time and energy into creating value for others. Remember that money is simply a medium for exchanging value. Stop focusing on the effect (receiving money), and start focusing on the cause (value creation).
2. Start a business as a way to share your passion, your talents, and your knowledge with the rest of the world. Ask yourself how you can express your talents in a way that benefits others.
3. Stop thinking of what you can “get” from others (how much money you can make), and start focusing on what you can “give” (how you can increase the amount of value that you give to others).
4. Do your work with love. Just as resentment poisons your work, doing your work with love adds more value to it.
5. Look for ways to have a positive impact on society through your business. I help entrepreneurs thrive – and through that I get immense satisfaction.
What gifts and talents do you have to create value?
If you have questions or comments you can contact me at my email email@example.com. Find me on Facebook, Twitter or Instagram @cindybbrown777
Join me every Wednesday on my podcast “Unlocking the Secret to Living Rich”.
August 23, 2017
Who is Cindy Brown? Cindy is a CPA, MBA, CFO, board member of public and private companies, business consultant, entrepreneur coach and a foremost expert in the field of financial mastery. Cindy’s purpose is to motivate, educate and inspire people to live their richest life. She is the host of “Unlocking the Secret to Living Rich”.