What would you do with 1million US dollars if you won the lottery today? As an entrepreneur, or someone starting a business I want to warn you: statistics show that 90% of people who ever won the lottery end up poorer than they were before. So this means that your current issues and your mindset about money do not go away unless you really deal with them.
My tip today is simple:- Whatever you put your money/cash into MUST be income producing.
Change how you view money. Money is only a vehicle which enables you to achieve certain things. When you attend a conference/workshop/networking forum, do you view it as a cost? On paper yes, put it as a cost, but tell your mind it is an investment. Once you believe it is an investment, this opens doors to possibilities of it producing a hundred fold benefits. If you are a Christian, you would know the sowing and reaping concept.
An example of the above is that when you attend a conference you pay for, believe it will produce income in the near future or far future. You then could meet your next loyal customer, or someone who could become your mentor/coach/adviser, you could meet someone who connects you to a person/company you had previously failed to access. The material you are given could help you start making money by teaching others, or give you confidence to start your own projects. They are many examples, but the key is ensuring that you INVEST and expect a benefit.
So if you won a million dollars, do you think you will be part of the 10% who do not end up poorer? Where do you spend your money? How do you spend it? Are you checking what you spend your time doing? Don’t they say time is money?
So as you start this week reassess yourself and your business on how you are managing your cash. I want you to become responsible millionaires and live happier!
P/s Am always open to you dropping me a line about where you are in business on firstname.lastname@example.org. Remember am here to help you go to the next level.