Wealth by Design

I am sure you have all seen the picture of the carrot tied on a stick, dangling out in from of of an animal pulling a cart. That picture makes us smile, but the thought behind that tactic is actually a very effective one. Create a system of goals and rewards. Rewarding yourself for the hard work you've done can be extremely valuable, especially when you had to push yourself out of your comfort zone to achieve it. Not sure where to start? Check out this episode, Dustin and I will help get you started!

Here's What You'll Learn

• [1:15] How to take inventory of your rewards
• [5:30] Think about the time you have been offered a carrot
• [6:15] Why you need a motivation system.
• [8:30] Dreaming can be a huge motivating factor
• [9:15] The key to a reward system
• [10:15] Goals vs. Rewards
• [11:30] Breaking down a goal
• [12:15] The two kinds of goals: personal and business
• [13:00] Creating personal goals
• [14:45] Creating business goals
• [16:45] The rewards system
• [21:15] Write in the reward like it's part of the checklist

[25:00] Big Buckets, medium rewards, and little nuggets

The key to a great reward system

Everyone is motivated by slightly different things. When I was in sales, there were breakpoints that offered higher commissions if I exceeded goals. For some people, cash is the best motivation, others prefer recognition or incentives like vacation or a weekend getaway! Whatever motivates you, create a reward system that helps keep you motivated as you are working on achieving your goals!

What is the difference between goals and rewards?

To clarify, accomplishing a goal is not the same as the reward for that goal. The goal is usually task related. The reward is how you feel after that task is done. For many people, it's hard to stay focused on big goals for a long time, so I recommend breaking that goal down into smaller steps. For example, if you have a goal of becoming an online influencer, you might start by starting a blog. Seeing your content live online is not the reward, that's the goal. Celebrating the launch of your blog by going out to dinner with friends, that's the reward!

Personal vs. business goals

You should build a reward system for both your personal goals, as well as your business goals. Personal goals could include things like wanting to learn spanish, owning a vacation home, more quality time with family, reading more books, or hitting that ideal weight. Business goals could include growing your clientele, creating an online course, engage an audience through speaking events or writing a book. These are just a few of our goals, what are some of yours?

Big Rewards, medium rewards, and little nuggets

The rewards must fit the goal, otherwise it's hard to motivated. When you are creating a to-do list for your goals, put the reward down as the last item on that checklist. That goal is not complete until you have rewarded yourself! Here are a few of OUR rewards that Dustin and I have set up for our goals: Taking a vacation, eventually going to the world cup, hosting friends for dinner, a day at the spa, the simplicity of a Starbucks Latte, a weekend getaway, and sometimes, just a stick of sugar-free gum at the end of a work day. Some of these are big rewards, some of them are medium-sized, and some are just little nuggets that keep us motivated!

Resources & People Mentioned

• theworthitpodcast.com/visiondownload
• Workfly app

Connect With Danielle and Dustin

• Ask your questions!
• On Facebook
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• Connect with Dustin on Twitter: @DRGranger

Have you met your ideal client yet? Do you know what they look like? What are interested in? How do they use technology? What they dream about? If your ideal client walked in the door right now, would you know them? In a world where people are tired of mass-produced products, finding your niche is more important than ever! In order to do that, you should create an avatar of that perfect client! If you are not sure how to get started, join us on this episode for inspiration as we outline OUR perfect client avatar!

Here's What You'll Learn

• [2:00] What is an avatar?
• [3:00] Creating the perfect avatar
• [3:15] Why do you need an avatar?
• [5:15] The best businesses put their ideal client avatar in their ads.
• [7:45] It's ok to have a set of avatars for different clients
• [8:15] Think of the people you love to serve, these may just be your avatar
• [10:00] Keep in mind too, your avatar can grow with your clients
• [11:45] The Worth It Avatars
• [19:00] Toujours Worth Guided Wealth Portfolios
• [21:00] Worth It Inspirations

What is an avatar?

By definition, an avatar does represent a single person, right? So why not make that single person your perfect customer to help you in building your business? An avatar is a person (singular) who embodies your perfect customer: they are the person who you are creating your business, your content, your services and your products for. In fact, your avatar cannot wait for you to launch your business, because what you are going to provide them with is going to help solve the pain point and fill the informational void they are currently experiencing. These are the reasons why defining your avatar is SO important!

The first step: defining your avatar

First, list out their demographic and psychographic traits. Brain dump as much information as you can think of from the research you've done so far. After that, give this person a name, and grab a photo online. Then, design a dossier. It doesn't have to be fancy, but it helps to have a 1-page printout that you can reference when brainstorming with your avatar. Perhaps in this exercise, you'll discover something that you're doing that doesn't quite match up with how your ideal customer really behaves, or you'll discover a tactic that you aren't yet using.

Is my avatar really – real?

While your avatar might start out as written words on a page, once you've defined them, you can actually go out and find them – talk to them, ask them questions, survey them – and figure out whether or not they truly are your perfect customer. Because they are absolutely real – you just have to go out and find them now.

What About Multiple Avatars?

Multiple avatars are perfectly okay. In fact, most businesses will have more than one ideal customer. Our company has 3-4 avatars that fit different demographics that we serve. The problem comes when you have 20 or 30 "ideal" customers, then you'll really have a hard time focusing your market efforts towards any specific group.

If you do end up with more than a handful of avatars, perhaps you should ask yourself if you have saturated any one of these target markets. Your efforts might be better spent going deeper into one or two target markets then spreading a wider net.

Resources & People Mentioned

• Moana Film
• Where You Are Song
• The Candid Appetite: Mac N' Cheese

Connect With Danielle and Dustin

• Ask your questions!
• On Facebook
• On Twitter

• Connect with Dustin on Twitter: @DRGranger

The fact is, women entrepreneurs are a total powerhouse! 20% of million-dollar business in the United States are owned by and predominantly operated by women. Women-owned business in the United States employed nearly 9 million people and generated $1.7 trillion in sales last year! If those numbers are not convincing enough, here are six reasons why the world needs more women entrepreneurs!

Here's What You'll Learn

• [3:30] 6 major reasons why the world needs more women entrepreneurs
• [4:15] There is an increasing number of women entrepreneurs, leading in most new business startups and higher education
• [6:45] #1: women are emotional, yes, but they tend to be more honest about the business.
• [11:30] #2 women are not afraid to admit that they don't know everything
• [13:00] #3 women are relationship-driven
• [14:45] #4 women are level headed and make smart business decisions
• [18:30] #5 women are creative
• [22:30] #6 Women get shit done, down to business
• [26:00] Women think success comes from hard work, not just from being awesome.
• [28:00] Toujours Worth Guided Wealth Portfolios
• [29:45] Worth It Inspirations

Women are leading in business startups and higher education

In Today's business and education landscape, women entrepreneurs are 5 percent more likely to start innovative businesses than their male counterparts. Women are also outshining their male counterparts in terms of education. While a college degree is by no means a requirement to become a business owner, women were 16 percent more like than male respondents to have earned a post-high school education. What does that mean for businesses and entrepreneurial ventures? Women are leading the charge!

Women bring a more honest, realistic approach to business

Reason #1: Women are emotional, yes, but they tend to be more honest about the business.

If a guy generalizes, women tend to dive into the details and get specific. The value of this approach in business is not often calculated, but the reality is, the direct approach women use to solve problems saves time, energy and effort.

Reason #2: Women are not afraid to admit that they don't know everything.

Guys tend to be more over-confident, especially in business and tech, but that can also lead to slower progress because they are not willing to ask for help when needed. Women, on the other hand, have less ego attached to not knowing something, and are more willing to express this, often leading to a faster resolution.

A relationship-driven, fair negotiation means everyone wins

Reason #3: Women are relationship-driven

Women are intrinsically better at relationship-building. This is also, hands-down, the most important part of building a business.

Reason #4: Women are level headed and make smart business decisions

Companies with female CEOs often see more job stability, better communication and the ability to stretch a budget to do more. All of these things are priceless when starting a new business. Women are also more likely to lead by example and handle crisis calmly — traits any employee can appreciate.

Get shit done, creatively!

Reason #5: Women are creative

1 in 5 women say they lack the technical expertise that their business requires, compared to 1 in 20 men. 25 percent of women say they don't have the network needed to build a business. Despite all of this, when you look at the numbers, women entrepreneurs, on average, take home twice as much as men. What does that mean? Women's inherent creativity is invaluable when it comes to creating a niche and launching new ideas.

Reason #6: Women get shit done

While you were stalling, she was executing!

Resources & People Mentioned

• Return of the Mack
• She Owns It
• Forbes on women entrepreneurs
• Worth It Ep 8
• Worth It EP 22
• The Chef's Table
• Hobo Hotel, Lake Charles

Connect With Danielle and Dustin

• Ask your questions!
• On Facebook
• On Twitter

Your net worth can be an extremely useful tool in measuring your economic status and overall financial progress from year to year. Your net worth is essentially a grand total of all your assets minus your liabilities. In other words, your net worth is the figure you get when you add up everything you own and then subtract from that the value of all of your debts. Dustin R. Granger, CFP® and I have put together a simple tool that you can use to help you calculate your net worth! Check out this Worth It episode to learn more!

Here's What You'll Learn

• [1:15] Building your net worth statement
• [2:45] What does net worth mean?
• [6:00] Knowing your net worth is the best way to start planning for your future
• [9:00] Working backward from retirement to figure out exactly how much you need
• [9:45] Calculating your net worth statement
• [15:30] Calculating your liabilities
• [20:00] Your net worth!
• [21:15] Toujours Worth It Financial Planning
• [23:15] Worth It Inspirations

How to calculate your net worth

Calculating your net worth can be a simple process, but it requires that you gather all the information surrounding your current assets and liabilities. Gathering and organizing this information can be a bit of a chore at first, but ensures that you (and anyone else who might need it like your spouse or financial advisor) have access to the information when needed.

Calculating your net worth only requires basic financial information regarding the things you own and the debt that you owe. Here's how to get started:

Calculate Your Assets

You will want to gather your latest statements for your more liquid assets. These assets include checking and savings accounts, cash, CDs or other investments such as brokerage accounts or retirement accounts. Next, list your largest assets. For most people, this could include the value of their home, any real estate properties, or vehicles like personal cars or boats. In the case of a business owner, this list would also include the value of their business, which has its own more complicated calculation. Make sure you use accurate estimates of market values in current dollars. Now, take all of the assets you have listed in the first three steps and add them together. This number represents your total assets.

Calculate Your Liabilities

Start with the major outstanding liabilities such as the balance on your mortgage or car loans. List these loans and their most current balances. Next, list all of your personal liabilities such as any balance on your credit cards, student loans, or any other debt you may owe. Now, add up the balances on all of the liabilities you listed above. This number represents your total liabilities.

Calculate Your Net Worth

To calculate your net worth, simply subtract the total liabilities from the total assets. For this exercise, it doesn't matter how big or how small the number. It doesn't necessarily matter if the number is negative. Your net worth is just a starting point to have something to compare against in the future. Repeat this process once a year and compare it with the previous year's number. By comparing the two, you can then determine if you are making progress or getting further behind on your goals.

Resources & People Mentioned

• Mr. Money Mustache

• Toujours Worth Software - Guided Wealth Portfolios
• Commanding the Table - Ella Brennan
• Ralph Waldo Emerson Quote

Connect With Danielle and Dustin

• Ask your questions!
• On Facebook
• On Twitter

• Connect with Dustin on Twitter: @DRGranger

Your net worth is essentially a grand total of all your assets minus your liabilities. In other words, your net worth is the figure you get when you add up everything you own and then subtract from that the value of all of your debts. Dustin R. Granger, CFP® and I have put together a simple tool that you can use to help you calculate your net worth! Check out this Worth It episode to learn more!

On this Worth It episode, John Leven, the host host of the Books & Booze podcast joins Dustin and I to talk about how he is able to read one hundred books a year, why he recommends liquid networking, and how he selects which books to read out of the thousands that are recommended to him. If you love to read, love a good beverage (alcoholic or otherwise), or are just looking for more ways to live your ideal life, this episode is for you! Grab a drink and enjoy!

Here's What You'll Learn

[1:15] John Leven from the Books and Booze Podcast joins the show!

[4:00] How the Books & Booze podcast got started

[10:00] John read 100 books in 2017 - Here's how he did it

[13:15] How he selects which books to read

[15:00] Have you ever tried book surfing?

[20:30] Goodreads.com

[21:45] Which books get reviewed on the Books and Booze podcast?

[25:30] John's system for remembering everything he has ever read

[31:30] The value of curating content

[34:00] John describes his ideal life

The Art Of Liquid Networking

John Leven is a financial analyst who has never met a spreadsheet or database he didn't like. When he is not at work, John hosts the Books & Booze Podcast, a "free-wheeling show that combines books, booze, and interesting guests to create thought-provoking conversations." Before he started the podcast, John found himself reading, on average 85-100 books a year. In addition to this passion for reading, John practices the art of liquid networking or gathering with a small group of friends to share a drink and talk about all manner of subjects, including psychology, technology, finance, philosophy and human behavior. Dustin R. Granger, CFP® shares John's thirst for knowledge (and a well-crafted cocktail), so this collaboration was inevitable!

Optimize your day to help you reach your goals

If you are wondering how John manages to read 100 books year, you are not alone! The simple answer is he dedicates most of his spare time to reading. John says if you read for two hours a day, you can easily read 75-80 books in a year. He suggests this number after he found that a two-hour train ride to and from work every day had enabled him to read nearly 75 books between January and July. You may not have a two-hour train ride each day, but if you are passionate about reading more, or even just living more of what YOUR ideal life looks like, there is a good chance you can cut certain things from your schedule. Netflix, anyone?

There are thousands of books, how do you choose what to read?

With so many books to choose from, knowing which ones to read is critical, right? John says goodreads.com has an exceptional list of books worth looking at. Besides his own personal lists, organized by subject, he says there are public lists where books can be upvoted! Imagine a list that is constantly being updated with the absolute best books for that subject...that's goodreads. John has 10-12 core subjects that he is interested in, and under each subject, a list of 20-40 books that he wants to read. He uses the library as often as he can but is not against purchasing a physical copy of a book he really wants to read.

With so much information from so many books, how do you remember it all?

"I use the notes app on my iPhone" John says. As he is reading a book, he will make lists, highlight thoughts and takeaways and summarize short paragraphs. After he is done with the book, John uploads all of his notes into a google sheets document that is organized by subject. He promised Dustin and I that at some point in the future, he would distill his wealth of knowledge into a book. When a guy who has read hundreds and hundreds of books says "here are my top picks," we lean forward in anticipation!

Resources & People Mentioned

• Goodreads.com
• WorkFlowy
• Johnleven.com
• • Twitter
  • Youtube
  • Soundcloud
• Books & Booze Podcast - Episode 12: The Magic of Thinking Big
• The Magic of Thinking Big By David Schwartz BOOK

Connect With Danielle and Dustin

• Ask your questions!
• On Facebook
• On Twitter

• Connect with Dustin on Twitter: @DRGranger

On this Worth It episode, John Leven, the host host of the Books & Booze podcast joins Dustin and I to talk about how he is able to read one hundred books a year, why he recommends liquid networking, and how he selects which books to read out of the thousands that are recommended to him. If you love to read, love a good beverage (alcoholic or otherwise), or are just looking for more ways to live your ideal life, this episode is for you! Grab a drink and enjoy!

The term "mastermind" was originally coined by Napoleon Hill in 1925, but small groups of people have been meeting to discuss business ideas, philosophy and untold other subjects for hundreds, if not thousands of years! Today, Dustin R. Granger, CFP® and I talk about the rich history of mastermind groups, and why you should absolutely join one (or start one)!

Here's What You'll Learn

[1:45] Using the power of a small group to catapult your life

[2:45] The definition of a mastermind group

[5:45] What sort of group should you join?

[9:00] Drink a beer and share ideas

[11:30] 7 reasons to join a mastermind group

[14:45] How to find the right mastermind group

[18:00] Toujours Worth It Financial Planning

[20:00] Worth It Inspirations

What is a mastermind group?

By definition, a mastermind group is a peer to peer mentoring concept used to help members solve their problems, with input and advice from other group members. Napoleon Hill, the author of "Think and Grow Rich," says a mastermind means two or more people coming together in harmony to solve problems. The group size can vary, but the most successful groups usually consist of 2-8 members. This group size allows everyone a chance to share, encourage, challenge and celebrate!

Books and Booze: The rich history of Mastermind groups

Even though "mastermind" may seem like an unattainable title (you either have to be a master of something or a genius), the execution of these groups is often much more simple. Many of the great authors, speakers, and influencers actually made a habit of meeting at a local pub to discuss their ideas over a brew! C.S. Lewis and J.R. Tolkien met at The Eagle And Child in Oxford, England, Ernest Hemingway frequented the El Floridita in Cuba, Lord Byron was frequently seen at the Pedrocchi Cafe...and the list goes on! The place where your mastermind meets is less important than the people who attend, but if you find yourself in a local pub with a small gathering of friends, you will be carrying on a rich tradition!

7 reasons why you need to be in a mastermind group

1. The first great reason to join a mastermind group is the exclusive community it provides. You can be selective about the kind of people you meet with, and the subjects that are discussed.
2. Masterminds also allow you to share and receive advice from trusted colleagues. These will be the people who are motivated, have similar interests and will support you!
3. A mastermind means collaboration. You may have an idea that you need some help or clarity on, and this group is probably the ones best positioned to help you, and if not, they may know who can!
4. As stated above, mastermind groups can help you extend your network.
5. There are always new learning opportunities!
6. Mastermind groups allow cross-promotion. When you know what the members of your group are passionate about, and what skills they have, it becomes easy to recommend them. That trusted recommendation can go a long way!
7. Last, mastermind groups help you to think bigger!

Start your own mastermind group

By this point, we hope you can see the value of mastermind groups! If you can't find one that caters to your needs or interests, we recommend starting your own! Dustin says the key is consistency. Pick a place, and find a few friends or associates who share a few interests, then decide on how often to meet. It won't be long before you are sharing ideas, encouragement, and advice!

Resources & People Mentioned

• Where Good Ideas Come From: The Natural History Of Innovation
• Books and Booze Podcast
• The Magic Of Thinking Big
• Eyebuydirect.com
• Mr. Windle Song
• Toujours Worth Software - Guided Wealth Portfolios

Connect With Danielle and Dustin

• Ask your questions!
• On Facebook
• On Twitter

• Connect with Dustin on Twitter: @DRGranger

The term “mastermind” was originally coined by Napoleon Hill in 1925, but small groups of people have been meeting to discuss business ideas, philosophy and untold other subjects for hundreds, if not thousands of years! Today, Dustin R. Granger, CFP® and I talk about the rich history of mastermind groups, and why you should absolutely join one (or start one)!

Ikigai (pronounced ee-key-guy) is a wonderful Japanese concept made from two Japanese words: iki, meaning "life" and kai, meaning "effect, result, worth or benefit." Combined: "a reason for living." Beautiful, Isn't it? Ikigai is the idea of seeking a purpose in everything you do in life - Hobbies, friendships, work, community, and travel all add to your ikigai. There is no need to visit a Buddhist temple in Bali to "find yourself." Instead, Dustin and I want to use this episode to help you find your reason for living, aka your Ikigai! Grab your headphones and a pen, your purposeful future awaits!

Here's What You'll Learn

[3:15] What is Ikigai?

[5:30] #1. What do you love doing?

[7:30] #2. What are you good at?

[10:15] #3. What does the world need from you?

[12:15] #4. What can you get paid for?

[14:30] What does it mean when two of the questions overlap?

[15:15] What does it mean when three of the questions overlap?

[18:30] Your Ikigai: this is your meaning of life

[19:30] Toujours Worth It Financial Planning

[21:30] Worth It Inspirations

What do you love doing?

Grab a journal and ask yourself the following question: What do you love doing? This question speaks to your passion. You don't have to force yourself to come up with answers in one sitting. In fact, it's more productive to take your time. Over the course of a few days or weeks, take notes as ideas and insights come to you. Most importantly, be radically honest with yourself. Don't be afraid to jot down whatever comes to mind, no matter how crazy or irrational it might seem. A few of the things on my list include design, teaching, an appreciation for beautiful things, inspiring others, and generating new ideas. Dustin's list was similar to mine, with a few additions such as leadership and planning. What would be on your list?

What are you good at?

The second question to ask yourself is "What am I good at?" This question speaks to your profession. Sometimes the things you love to do will also be the things you are good at, but don't be surprised if the list looks different. My list includes inspiring others, planning, detail-oriented work, giving advice, empathy, and helping others feel better. Dustin says the things he is good at include organizing and inspiring others. He is also really good at making other people feel at ease. If you are struggling to find what you are good at, it's a great idea to ask close friends and family; they will be able to fill in some of the gaps.

What does the world need from you?

The question "What does the world need from you" speaks to your mission in life. If you imagine where the world is headed, then think about what other people would need to see that future realized, you can start to create a list of things you can offer the world if called upon. It can be hard to start this list, as it feels a little vulnerable at times, but don't give up, the results are worth it! After thinking about this for some time, I wrote down the following list: inspiration to follow your dreams, financial well-being, marketing concepts and life coaching. Dustin did the same and came up with leadership, new technology and scientific development, financial well-being, and political vision. If called upon, we could offer those things to the world.

What can you get paid for?

What can you get paid for? This question is focused on your vocation. What do you do that will pay the bills? List everything - planning, teaching, marketing, advising/coaching, Investments, teacher, advising, consulting, the list goes on...After you've answered these questions thoughtfully, start to look for patterns. What kinds of themes are apparent? Are there obvious intersections among categories, or do they seem disparate?

Finding your Ikigai

In the resources section for this episode, there is a chart you can download that will walk you through each question listed above. These are worthwhile questions to ask, whether you determined your ikigai forty years ago or you're just learning about the concept now. If you're on an initial ikigai fact-finding journey, integrating instinctive nudges with logic-driven thinking can lead to a deeper, more coherent sense of purpose. The chart also explains how each question or category overlaps, eventually focusing to a point where all four categories are connected. This is your Ikigai, your purpose, and passion!

Resources & People Mentioned

• BigThink Article on Ikigai
• Ikigai Wiki
• Pablo Picasso Quote
• theworthitpodcast.com/37

• Toujours Worth Software - Guided Wealth Portfolios

• Jacinda Ardern
• A dying woman's heartbreaking letter to the world

Connect With Danielle and Dustin

• Ask your questions!
• On Facebook
• On Twitter

Connect with Dustin on Twitter: @DRGranger