Today I will cover Pillar 7 - 9 from the book.
For the previous Pillars of Wealth, see Pillar 1 - 3 and Pillar 4-6
Let's get our minds challenged again.
PILLAR 7: MAPPING OUT ACTIONS THAT ACHIEVE GOALS
Yes, we all dreamed of the finishing line: becoming a BILLIONAIRE or maybe being a Millionaire, who knows.
We shouldn't shrink our big goals and big dreams, BUT we ought to slice those big dreams into 5 to 6 smaller sizable goals.
Like instead of wanting to have the perfect beach body, why not ask ourselves: what contributes to the perfect beach body?
How much daily protein shake consumption required?
How many times of sit-ups and push-ups daily needed in order to get that beach body?
How frequent do I need to hit the gym every week?
What is the suitable weight that I need to achieved by this month based on my BMI?
Again, turn those BIG DREAMS into smaller goals that are realistic, tangible and achievable. Rather than just dreaming about the big DESTINATION, focus on the HOW TO GET THERE and the JOURNEY as well.
For example, I realized if we want to make 1 million a year, that means we need to be earning about 83,334 dollars a month.
How do you get 83,334 dollars a month?
We need to break it down. Maybe this month my income is only 2,000 a month. So, where can a get the 81,334?
What about after tax? How much left after tax?
How much does in cost if I just into another business project?
If I were to get a project that profits 10,000 dollars, how much time will it cost me?
How much uber trip does it take for me to get tit 81,334? Basically, it just shows Uber may not be that feasible to reach 81,334 a month.
Even the most hardworking Uber driver in Malaysia (last I heard) only managed to earn around 10k,
which leave us with 74,334 dollars more to go, but do you still have the time to plan on how to get the remaining 74,334?
And the more detailed we can be with these 5 or 6 goals, the more likely we can achieve it.
Honestly, I may not being doing enough justice in explaining this pillar (you gotta read it for yourself) but this is what I gained so far.
Overwhelmed?!?! Refer back to the 6th Pillar: FOCUS ON THE "WHAT IS" NOW!
PILLAR 8: FOCUSING SOLELY ON WHAT GETS YOU PAID
Unlike Tai Lopez, Becker doesn't recommend us to read a book a day!
He is not saying reading books and gaining knowledge as something bad,
but he argued that we OUGHT to focus things that can supply income first.
USE WHAT YOU ALREADY NOW THAT CAN BRING IN CASHFLOW FIRST, and only when you are hit with more challenges, learn and study as you go on your way.
Knowledge is good, but if it does not land you with more time and financial freedom, we gotta start doing something else that actually will pay us.
I had to do agree with him, I'm a learner and I took pride in it that but I realized I spent too much time on acquiring knowledge that it leaves me feeling even more anxious because of the information overload!
Should I still be reading? Absolutely, I will continue to read and learn, but again, but I am a public speaker and acquiring knowledge is vital for my field.
But you gotta do what you are good at now, and we need make sure the very thing we are good, can bring in income. Future problems and potential threats? We learn as we go, focus solely on what get you paid first. Whatever you will face, learn more later, read more books later, but do the work now.
He wrote, “Everything that can be delegated—such as cooking our food and cleaning our clothes—must be delegated. This is the single easiest way to make as much money as quickly as possible.
YOU ARE ONLY ONE PERSON, AND ONE PERSON CAN ONLY DO SO MUCH . . . UNLESS THEY ARE IN CONTROL OF A GIANT BUSINESS ROBOT”
Excerpt From: Alex Becker. “The 10 Pillars of Wealth: Mind-Sets of the World's Richest People.” iBooks.
Whatever can be delegated, MUST BE DELEGATED!
Just because you can do it doesn't mean you should do it, PAY SOMEBODY TO DO IT, so that you can focus on the thing gets you paid and that you are the most effective at!
PILLAR 9: PEOPLE GIVE MONEY TO PEOPLE THAT GET PEOPLE
He wrote, “The value of money comes from other people’s belief that it has value (and power). Without this belief, money would not have value and would become meaningless. This is an essential understanding because once you believe this idea, you will stop focusing on money and focus more on understanding the people that give money its value (and how to get them to give you their money).
In order to obtain any money at all, you need other people. More so, you need these people to want to give you their money. So, the true secret to making money is getting people to do what you want (which is to give you their money). To do this, you need to gain control over them or persuade them (in a good way).”
Excerpt From: Alex Becker. “The 10 Pillars of Wealth: Mind-Sets of the World's Richest People.” iBooks.
The truth is if we want more income, then we need people, because income comes from people.
If we are smart problem solvers, smart people will pay us;
if we are crooks, then dumb people will pay us,
and even if it is so, this is SUPER unsustainable and VERY WRONG.
Grant Cardone always says this: Who's Got MY Money?
Ask yourself: Are we solving somebody's problem today? Can we help somebody today to become better?
Have we helped enough people to be rewarded by people today?
Ultimately, people pay us to get their problems fixed (whether tangible or intangible).
A great salesman (I truly believe) is not just someone who persuasive but he is someone that always seek to understand people and genuinely cares for them.
Darren Hardy said it best: Instead of SELLING, try HELPING.
The right people who are appreciative of the value you have given them, WILL in return give value back to you (in the form of money)!
Stay tuned for the last part!
For previous pillars: see Pillar 1 - 3 and Pillar 4-6
So insightful! Can't wait for the last few pillars :)