TOP WEALTH CREATION STRATEGIES FOR FINANCIAL SUCCESS

Top Wealth Creation Strategies For Financial Success

We are living today in the greatest age in all of human history. There have never been more opportunities for wealth creation and for you to achieve more of your goals, both personal and financial, than exist today. There are more than 100,000 different job categories in the United States, and with the explosion in information, technology and competition, the number of possible things that you could do to be successful is expanding every year.

Look For New Opportunities for Wealth Creation

The major factor driving our society today is the impact of change at all levels. And every single change in our economy creates new opportunity and possibilities for the creative minority to move ahead faster than the average person. Remember the Latin saying, “Carpe Diem!?” It means, “ seize the day” This is what you must do. You must “Seize the day!” You must plunge in with both hands up to the elbow and take advantage of every opportunity and possibility going on around you to create the wonderful life that is possible for you today.

I left high school without graduating many years ago. I fooled around in school and worked at part time jobs in the evenings and on the weekends. When I left school, all I could get was laboring jobs, washing dishes, digging ditches and working in factories and mills. Eventually I got into selling and did poorly for a long time.

The turning point for me came when I realized that nothing happens by luck or by accident.

Everything happens for a reason. People are successful and prosperous because they do certain things in a certain way. People are unhappy and frustrated because they neglected to do the things that successful people do.

This insight set me off on a lifelong search for the reasons why some people are more successful than others. If you look for the answers to any question, you will eventually find the answers. What you do with the answers is up to you.

Seize the Day and Set Your Career Goals High

The first answers I found had to do with selling. I found out why some people sold five, ten and sometimes twenty times as much as other people and then I did the same things they did. In one year, I went from the bottom of my sales force to the top of my sales force. In two years,

In your life, it is very much the same.

 The most important thing you do at the outset of your career, or at any time during your career, is to find out what the most successful people are doing in your chosen area and then do the same things, over and over again until you start to get the same results. It is no miracle, it is no accident, it is as predictable as the sun rising in the east and setting in the west.

Chose to Become Financially Independent

One of the goals that we all have in common is that we all want to be financially independent. We all want to have enough money so that we never have to worry about money again. You want to build a financial fortress around yourself. You want to make a high income, get out of debt, put money in the bank and have the ability to do the things you want without being preoccupied about the costs. The only question is, “are you going to do it or not?”

The good news is that there are more people achieving financial independence faster today than ever before. There are currently almost four million millionaires, most of them self-made, first generation.

 Somewhere, somehow, someone becomes a self-made millionaire at the rate of one every four and a half minutes, 365 days a year. And for every person who becomes a self-made millionaire, there are many, many more who are achieving a net worth in the hundreds of thousands of dollars through different wealth creation strategies.

By setting financial accumulation and financial independence as your career goals, and then by making a plan on the one hand to get better and better at what you do while on the other hand saving more and more of what you earn, you will become financially independent, if not a self-made millionaire in the years ahead.

Thank you for reading this article on top wealth creation strategies for financial success. When you look for new opportunities and seize the day you will be able to find financial success in all aspects of your life. Please share and comment below!

FOUR STEPS TO INCREASING YOUR BUSINESS CASH FLOW

Four  Steps To Increasing  Your Business Cash Flow

 “Do what you can, with what you have, right where you are.” -Theodore Roosevelt

The starting point of strategic planning and smart business is for you to develop absolute clarity about your current situation. Look at your overall business and ask, “What’s working?” and “What’s not working?” in every area in order to increase your cash flow.

What is your current level of sales? Break them down by product, product line, service, market and distribution channel. What exactly are you selling, to which customers, at what prices and with what level of profitability?

For smart business decisions, compare your current sales with your assumptions, your expectations and your projections. Are you on track? Compare your level of sales with last year. 

What are the trends? Are they up or down? Is this trend temporary or permanent? What do the trends suggest for the future of your business? What could you do to respond more effectively to them? Remember, in order to increase your current cash flow you must remember your customer is king and provide good customer service.

 Continuous Cash Flow Is Everything

Look at your cash flow and levels of profitability from each product, service and area of activity. Are your profits going up or down? Are they on budget or going sideways? Look at the percentages. Analyze your return-on-equity, return-on-investment, and return-on-sales. Are they increasing or decreasing?

Jim Collins, in his best-selling book, Good To Great, says that you must be willing to ask the “brutal questions” about your business if you are going to solve your problems and achieve your goals. If your goal is to build a great company, why isn’t your company already great?

Which of your products or services is selling well today? Which of your products and services are the most profitable? Which ones are doing poorly? Which ones do you lose money on?

Is your current business situation, positive or negative, in any area, temporary or part of a long-term trend? How can you know for sure? How can you find out? What should you then do?

Clarity Is the Key For Smart Business Decisions

Perhaps the most important word in strategic planning is the word “clarity.” You must be absolutely clear about the answers to each of these questions in order to increase cash flow. Vagueness or fuzziness in any area can lead to problems, difficulties and even disasters.

Why has your business been successful in the past? What have you done well in the past that has been responsible for your success to date? What are the most important skills and competencies that your company possesses today? What are the very best products and services that you offer right now?

Look at the people around you. Who are your most valuable people? Who are no longer as valuable as before, or who even represents a net loss or detriment to your business? Be prepared to ask and answer these brutal questions in order to increase your business’s 

Good Customer Service is Essential: The Customer Is King

In order to provide good customer service, you must know the answer to the following questions. Who are your best customers today? What and where are your best markets? What do your customers like the most about what you do for them? 

What do they compliment the most of what you offer or do for them? What is your number one area of customer satisfaction?

What do your customers like the least about what you do? What do they complain about the most? What is it that you sell that your customers and potential customers prefer to buy somewhere else, rather than from you? In order to increase your business’s cash flow, you must remember that your  customer is the king

Identify Your Personal Strengths

Look at yourself honestly. What are your own personal best skills, qualities and abilities? What are the most important things that you do at work, and for your company? What are the most valuable contributions you make personally to your business?

Imagine yourself as a doctor conducting a complete medical examination on your own body. Treat your business as though it were a body as well. Get accurate information on every critical detail of your company and use this as a baseline to determine your future actions. Be honest and objective at every step.

Harold Geneen, who built ITT into a major conglomerate, always said, “Get the facts. Get the real facts. Not the apparent facts, the hoped for facts or the obvious facts. Get the real facts, based on analysis. Facts don’t lie.”

Strategic planning requires that you begin with a realistic and honest assessment of exactly where you are and what you are today. This becomes your starting point for strategic planning and strategic thinking. It becomes the foundation upon which all future decisions are made.

Thank you for reading this article on how you can increase your cash flow through smart business decisions. You must always remember to provide good customer care service  and that your customer is king in order to get ahead in today’s business world. Please share and comment below!

Good luck 

YOUR 7 KEYS TO BUSINESS SUCCESS

 Your 7 Key to Business Success

Success is a learn-able skill. It would be terrible for you to be held back in life because you lack one easily learn-able skill that could enable you to multiply your results and possibilities. The key to success is effective time management and continuous learning. 

In military parlance they use an expression ‘force multiplier.’ A force multiplier is what enables a smaller force to defeat a larger force. 

One of the force multipliers that we study are, speed; a smaller force moving with greater speed can take advantage of an opening. Another is intelligence. In business the force multiplier of intelligence means that you learn and you know things about your customers, your markets and your potential that other people don’t, that enable you to get a market advantage.

Become a Self-Made Millionaire With These Leverage Factors

In order to become a self made millonaires you must follow these 7 force multipliers or leverage factors so that you can use it in your work to get vastly more done.

1. Work Harder For Business Success

Just simply work harder. It’s amazing how lazy people are, and how little they work and how much time they waste. So if you make a decision to just work hard when you get to work, concentrate on your task, put your whole heart into what you’re doing and just work, work, work, you’ll find that one of the greatest reasons for success in life is that people work harder. 

Eighty-five percent of self-made millionaires said that the reason they became millionaires starting with nothing was because they worked harder than their competitors. They worked harder than other people. And you can do the same thing.

2. Work Faster

Pick up the pace. Pick up the tempo. Imagine that you’re in a heck of a hurry and just work quickly. Do your jobs quickly and get back to people quickly. A great  time management  principle I learned was the principle of working in real time. That means that when something comes up, deal with it now. When you get a phone message, phone back immediately.

 When you have to make a decision, make it immediately. When you have to answer an email that’s important, do it now. Don’t accumulate tasks. If the task can be done in less than 2 minutes, in almost every case you should do it right away, and then get back to your main task.

3. Work Longer

This again is one of the great secrets of success. Start a little earlier, work a little harder, stay a little later. Come in one hour earlier and get your day planned and get your work under way before anybody else gets there. Work through lunchtime.

 Don’t go out for lunch, just eat quickly and then get back to work, and do more work. Then, work an hour longer. Let everybody go home and crowd all the streets. You just go in behind them in the slipstream, and you’ll get home at pretty much the same time. But, you’ll get twice as much done if you start a little earlier, work a little harder and stay a little later.

Here’s one of the great secrets for success; always be there when your boss arrives and always be there when your boss leaves. The boss will not mention it or comment on it for a while, but at a certain point in time everything will start to change for you. You will become known as the go-to person. You’ll become known as the person that, “If you want something done, go to him or her.”

So working longer is really important and can literally put you on the side of the angels. And if you combine that with working harder and working faster, you’ll double and triple your productivity, virtually the first day.

4. The Key to Success is Working Together

Work in teams; work with other people. There are some tasks that take an enormous amount of time for a single person to do but with a large group of people, each one specializing and doing part of the task, you can get a tremendous amount done.

I was at a summer fair where a home builder raffled off a new home and they said that whoever won the home they would build if for them in basically 48 hours. And that’s what they did. They used a series of crews and literally built the entire home in two days. Normally it would take at least six to eight weeks to build but they did it in 48 hours with everyone working harder, faster, longer, and specializing in their particular area.

5. Do More Important Things

This is a great leverage factor. The 80/20 rule; 20% of what you do accounts for 80% of your results. If you have a list of ten things to do, two of those items will be worth more than all the others put together. Discipline yourself to work on those items that are most important because you are producing 5 or 10 times as much working on your top tasks as working on your average tasks.

6. Cluster Similar Tasks For Effective Time Management

This is one of the great time management tools. Do all your reports at once; do all of your proposals at once, all of your prospecting calls at once. Whatever they are, do them all together rather than one here and one there, and one at another time during the day. What happens is that when you do a whole series of similar tasks together you get onto what is called the learning curve. 

Whereas the first task may take ten minutes, the next one will take nine, the next one eight, and the next one only seven minutes. Pretty soon, you’ll be burning through the tasks at two to three minutes at a time. You’ll save 50 – 80% of the time on each subsequent task. You’ll get more done that you can possibly imagine. So do similar tasks together.

7. Get Better at Your Key Tasks

Get better at the most important and most valuable things you do, and do them faster and do them harder and get them done.

Now here is one of the greatest of all rules, and it comes from a study by Robert Half International who found that 50% of all working time is wasted. Fifty percent of all working time is spent on things of low value or no value.

 Fifty percent of working time is spent in idle chit-chat with coworkers, checking email, reading the paper, drinking coffee, going for breaks and lunches, coming in late, leaving early, going shopping, and personal business. So here is the way that you overcome this natural, habitual, comfort zone, path of least resistance tendency to waste time and work, and that is to “work all the time you work.”

Thank you for reading this article about how you can achieve business success through excellent time management. Self-made millionaires are willing to put in the extra time and work in order to achieve all of their goals. Please share and comment below!