Build Wealth from Where You Are!
You can do more than just work and survive. Most people know this, but they are acknowledging this reality while maintaining a faulty knowledge foundation. I was mis-educated in the same way. Allow me to articulate what life has been telling you as you move from job to job: Success is freedom. It is not a good job. Success is doing what you want to do, when you want to do it…Freedom! You can’t get there “working.” If you’re a worker, the system needs you to keep doing the work. If you stop, the system fails. So, the financial incentive is built to keep you working, not to create freedom for you.
But, it’s a fallacy for those of us who don’t have access to the means of production to think that the answer is to denounce the world of work completely. Work can provide investment capital, expertise development, and network development. You can learn, explore, connect, and articulate while you develop what you need to secure your freedom.
The greatest challenge I see for my clients is the balance of these ideas with the insistence of freedom’s call and the need for immediate gratification. In other words, they see the vision and they are impatient. If you are one of these impatient ones, get to work. But, make sure your work fits the reality that you seek: freedom. Freedom will come as you develop revenue streams. For best results, create seven of them. Next, funnel any streams that require work into residual revenue streams—opportunities that put your money to work for you. Let’s get started by re-educating with some practical vocabulary words that address your skepticism.
“It Seems Improbable”: Require Discipline
Most people think it requires “work.” But, that word doesn’t allow for the reality that many people “work” extremely hard and don’t make progress toward their goals. Freedom and work that fulfills is not everyone’s experience. So, it must be more than “work.”
I prefer to discuss the need as “Discipline.” Discipline communicates smart work, but also the reality that the outcomes are in direct correlation to the consistency of your effort in addition to the intensity. You have heard the analogy of a marathon. The analogy fits here. Make sure you are moving in the right direction. Set a pace that is comfortable for you. Ensure that you can maintain that pace over time. Get to running.
“It’s a Long Way Off”: Require Patience
Most people think it’s a matter of waiting. But, waiting doesn’t communicate the reality of living in the contentment of the process. Freedom is doing what you love. As you move toward goals you have set, the movement itself brings joy and satisfaction.
I prefer the word patience. Yet, many haven’t looked up the word recently. Even fewer have applied the word in the context of temperance, joy, love, goodness, kindness, knowledge, and virtue. In this context like a stew, the word is not just about long-suffering. It takes on the other character flavors. It becomes a lifestyle of engagement seeking benefit beyond the self. It becomes an opportunity to express self in cooperation with others. A motivation to accept what is given and pay it forward.
“It Takes Away from Money Making”: Require Vision
Most people are trying to replace income. It’s a goal that is understandable. Freedom from the day job is real freedom. To come and go when you please. To go where you want without limitations. Yet, the process of wealth building toward that level of freedom is systematic without a large upfront investment. In other words, if you don’t have access to a silver spoon or the next WhatsApp, your day job is an important investment in your overall wealth plan.
Your vision is what will keep you going through this process. Not just the picture of what you are working toward. I am talking about vision that allows you to work backward systematically from that picture of your freedom goals. Recognize each step that you would have to take and often “endure” to move from here to there. Recognize two realities: 1) Wealth typically requires 7 revenue streams. 2) Revenue streams are rarely instant successes.
The following is a list of 8 potential revenue streams that anyone can develop starting today. If you find items on the list that you are fearful or not interested in pursuing, brainstorm a replacement. Notice that the day job is not on the list. Some may want to add it back.
- Blog: a disciplined approach to content development that leads to multiple packaging options.
- Stocks: putting your money to work for you accumulating through value and dividends.
- Training: Share your expertise with learners around the world for a fee.
- YouTube & Self-Branding: Receive a return on the joy and wit that you add to the world.
- Consulting: Walk them through it face-to-face, evaluate, or edit for a retainer.
- Books: You have a story to tell. Let them pay you for your courage.
- Media: Package your ideas, your music, or your expertise and disseminate. They will pay you for it.
- Public Speaking: Proclaim your knowledge and motivate the masses. Set the contract up front.