To create wealth, it doesn’t need to be a full-time job, but it does require applying some strategies and implementing them. This means you be focused and put in time and effort. Many people struggle with focusing on their wealth, not because they don’t know what to do, but because it is more comfortable to keep things the same.
Let’s look at two very different wealth strategies. Both involve an operating business with a business owner who wants to move from working “in” the business to working “on” the business in order to build wealth.
- Strategy A
The business owner is not using recommended tools:
Working 80 hours per week.
Works hard to get out of the day-to-day operations, but can’t imagine how the business would run without him there.
The business owner utilizes website tools and systems:
Establishing a wealth team that includes key employees who manage the business.
Using formal and informal agreements with team members to improve communication.
Putting systems in place, including internal controls, so everyone in the business understands proper operating procedures. With these systems in place, the owner can spend his time managing the systems (which takes less time than managing the people).
Putting reporting in place so information is readily available to make timely decisions.
Which strategy do you think will be more successful?
Business in strategy B embraces the leverage that comes with using some available resources. The business owner is willing to do whatever it takes to leverage his resources. The leverage from the proper use of resources gives the owner more time to focus on building his asset (his business) in order to build his wealth.
Business in strategy A is going to struggle. The owner is too busy to focus on wealth building. The business owner could achieve his goal if he wasn’t too busy, but it is all based on what he is willing to do. Is he willing to leverage his resources so he has the time to focus on his wealth? Is he willing to move out of his comfort zone by figuring out how his business could run without him there?
Below are some of the resources that can help you build your wealth with ease and have time to do other things. this is working smart. Gone are the days when one has to work around the clock in order to be successful!
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