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Desire Into Riches
Definiteness of purpose
When one is truly definite on his purpose, he may burn all the bridges behind to ensure there is no way back.
Also, you have to make the decision to stick your entire life in order to make one step closer to your purpose. When one is definite, one puts his dreams across and never minds what others say when encountering temporary defeat.
In the case of Mr. Edwin C Barnes, he always considered himself partner of Mr. Edison. From the very moment he started working for him even if his job wasn’t directly related to Edison’s.
But this is not easy. Burning one’s bridges is not always enough. In many cases, the turning point of those who succeeded came at some personal crisis where they were introduced to their other selves.
The truth is accumulation of riches is not left to chance, good fortune, or luck. It is the result of a long quest.
As an example, Edison failed many times before he discovered the genius sleeping within his mind. This state of mind can only be obtained through persistence and a burning desire.
6 Steps: Method for transmuting desire into riches
Think and Grow Rich Chapter 2 Six Steps are very well known by Napoleon Hill followers. They are a recipe by Andrew Carnegie which also holds Edison’s stamp of approval as essential for the attainment of any definite goal.
However, those who have not been schooled in the working principles of mind will find these instructions impractical and therefore will be doomed to failure.
With the application of these principles, you will convince yourself as you become definitely determined. In fact, money consciousness is a state of mind so saturated with desire you see yourself already in possession of it.
Mary Kay techniques for self-confidence
Mary Kay is the perfect example Think and Grow Rich is also for women. She has proposed a few steps to increase self-confidence, in line with Carnegie’s principles.
Chapter 2 analysis and Review
To burn one’s bridges or to burn your boats means to do something which makes it impossible to go back to the previous state. This idiomatic expression means that you reach a point of no return.
It comes from an aggressive military strategy so soldiers cannot to consider retreat. When conquering new places, soldiers know there is no way back and therefore will do their best in their campaign and survive.
In Chapter 2 we learn the success story of Mr. Edwin C Barnes and Thomas Edison. Barnes admired Edison’s inventions and dreamed about being partner with Edison. He left it all to go meet Edison and managed to obtain a low position within his company. With the passing of time, his faith in Edison’s products and his hard work in the company resulted in Edison giving him an exclusive contract to distribute and market a particular device all over the nation.
How much actual cash that original desire of Barnes was worth to him, I have no way of knowing. Perhaps it brough him two or three million dollars. Whatever the amount, it becomes insignificant when compared to the greater asset he acquired, the definite knowledge that an intangible impulse of thought can be transmuted into its physical counterpart by the application of known principles.
It is very important you follow the six steps to the letter. They may seem obvious, but they are not. They force you to have a clear target in your life and to think about what you are willing to do in order to attain your goals.
Chapter 2 is about a practical materialization of the American old saying There ain’t no such thing as a free lunch, which in Think and Grow Rich it is expressed as there is no such thing as something for nothing.
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
8 Rules of Success
1. Morning Routine: So, you can build momentum for the day.
2. Concentrate: on your goals daily. We become what we think about.
3. Think positively: so, you can achieve positive results.
4. Trust Yourself: Ignore the haters.
5. Friends: Associate yourself with successful and like-minded people.
6. Learn Daily: Go to bed smarter by reading books, watching seminars, reading articles, and listening to audio books.
7. Build one habit at a time: know the 21/90 rule which is take 21 days to build a habit and takes 90 days to build a lifestyle.
8. Impatience is weakness be patient when working on your goals, you can’t be strong all the time, you will have your ups and downs.
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
Why and What Business
WHY
Your WHY is your Purpose!
Purpose: it is the meaning, the reason why something exists.
Without Purpose, life, work, relationships, and goals have not meaning! Knowing your WHY will simplify the decisions you need to make.
Why are you starting a business? If you don’t know the answer to this question, you might be doing it for the wrong reasons.
Example: I am starting a business to make money! Money and profitability are just by products of a business. If you are doing it for this reason, it will only take you so far. As you grow, you will start sacrificing your morals and principles. Your customers and employees will be the ones to suffer in the long run. Because you will use them to make more money and greed will set in. You need a higher reason than just money.
If you change your mind set to, I am starting a business to help my customers and grow my employees. Now you have a foundation to be successful. Change your focus from you to other and you will be able to grow by leaps and bounds. Don’t forget about making money, it is just not your why!
Now that you have your why let move to your what!
WHAT
Ask yourself these 6 questions!
1. What experience do I have?
Ashley Hill, founder and CEO of College Prep Ready, says she started her business because she had personal success financing her college dream.
“I researched the challenges that students and families are experiencing with paying for college to help me refine my core message and services,” she says.
From her experience and research, she learned that there was a market for the knowledge she had to offer. With Americans in trillions of dollars of student loan debt, Hill understood the pain points of students and parents when navigating the college application and financial aid process. She took this understanding and converted into a business that assuaged the difficulties she had witnessed.
Similarly, Victoria Garlick, CEO of event services matchmaking website Air Events Global, also believes in choosing a business based on experience and skill set. Hers is built off of a 20-year career in event planning.
“When deciding on what type of business to start, I looked at my personal and professional history and what I could contribute as an event director,” says Garlick.
2. What am I passionate about?
Another common recommendation entrepreneurs shared with us is to find and follow your passion. Nick Ehret, founder of Varieteas, is passionate about tea. So, he built a successful business by curating specialty teas for his monthly subscription boxes.
He’s a premium tea aficionado who knew he could transform his passion into a business. His advice to people when picking a business to start is to “[choose] something you are extremely passionate about because you will be working with it all day, every day.”
Brian Davis, CEO of Spark Rental, subscribes to a Japanese concept called ikigai. It means “reason for being.” In this context, Davis says, a truly good business idea is at the intersection of four things: what you love doing, what you’re good at, what you can be paid for, and what the world needs.
3. What problem can I solve?
We all know that necessity is the mother of invention but applying that knowledge to the business world hasn’t always been the next step. An entrepreneur who converts that need to a business plan could swiftly become a successful business owner. As any consumer can tell you, problems and pain points abound in just about any industry. Finding out what these difficulties and inefficiencies are—and coming up with a business plan to fix them—is a sure-fire way to step out on the right business path.
Take the dog bed company Big Barker, for example. This company generated $4.75 million in revenue in 2016. Eric Shannon, founder, and CEO, saw a glaring problem in the market for dog beds. “I started Big Barker because there was a huge problem that large dog owners had to deal with. They had to replace their dog beds once or twice a year because they weren’t made well enough to support the weight of a big dog.”
Shannon adjures would-be entrepreneurs to solve big problems: “The bigger problem you solve, the more potential your business has.”
4. What is my lifestyle preference?
Your business goal may or may not include revenues in the millions and employees in the thousands — and that’s OK. Perhaps what’s most important to you is choosing a business model that supports your ideal work-life balance.
Antonella Pisani was a VP of global ecommerce for Fossil and held leadership roles at JCPenney, Guitar Center, and ProFlowers. But her primary interests were in travel and photography. Because she knew she would prefer mobility in order to pursue these interests, Pisani knew she needed a flexible business model that wouldn’t require space or inventory.
This was the impetus for creating her websites, Official Coupon Code and FACT Goods. These flexible, web-based businesses have allowed her to work from Antarctica, the Arctic, Bhutan, Morocco, and other countries.
5. How much capital do I have access to?
The lean startup wasn’t a fad after all. In fact, the concept grew from one inevitable and enduring truth about starting a business -- people don’t want to risk their life savings on a business idea they have yet to prove or make profitable.
A great example of this fact is Robert Lomax, who founded an educational services firm, RSL Educational, based on needs he saw in his day job as a teacher. Not only did his teaching experience help him see gaps in the educational books market, but it also gave him the ability to keep his job and develop new products. Because he had a steady income as he founded his firm, Lomax was able to avoid taking on debt and minimize risk while he grew his business.
And he wouldn’t have done it any other way. According to Lomax, his approach is ideal because it allows you to “take your time and explore your ideas properly."
6. What ideas can I test easily?
Facebook CEO Mark Zuckerberg once said, “Move fast and break things. Unless you are breaking stuff, you are not moving fast enough.”
In other words, your business idea should be something you can prove (or disprove) early on. If you’ve got no experience in the trucking industry, starting a logistics company would be costly to test out. Instead, think about the lower hanging fruit in industries that interest you.
Marc Roche, co-founder at Annuities HQ, a Canadian online resource on retirement-planning products, suggests doing preliminary research with family and friends, and then move on to the Internet for some more digging.
“Don’t be afraid to try a have a few ideas in mind to ‘test drive’ before you choose a direction,” Roche says. “Do some basic research online and get a feel for what idea will be worth the time and effort of developing into a business.”
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
How to Start a Small Business at Home
Starting a new business venture isn’t easy, but these six steps will help you make much-needed progress.
In the U.S., 69% of new entrepreneurs will start their businesses out of their homes. If you’ve been thinking about starting a small business at home, here are six steps to help you get started.
Come up with your business idea
The first step to starting a small business is coming up with a winning business idea. Ideally, you’ll develop a business venture that interests you and meets a need in the market.
A great way to do this is by identifying a problem that frustrates you. Is there an issue that you continually encounter that you wish someone would solve? That could be your next business venture.
But you don’t necessarily have to reinvent the wheel. Take a look at the businesses that are already out there and ask yourself how you could improve upon what they’re already doing. Are there any gaps in the marketplace that you could fill?
Decide what you’re going to sell
A lot goes into starting a business, but the first place to start is to figure out what you plan to sell. Your success as a business depends on your ability to sell products or services to your customers.
Come up with a list of ideas for products or services you can offer. From there, you should consider the following questions:
Write a business plan
Next, you’ll write a business plan. A business plan will help you gain clarity as you’re getting started, and it will help tremendously if you decide to apply for small business financing in the future.
According to the SBA, most business plans fall under the category of a traditional business or a lean startup. You’ll go into great detail in a traditional business plan. These plans can be several dozen pages long and are required by most lenders and investors.
In comparison, a lean startup business plan focuses on a high-level overview of the business. You’ll summarize the most important aspects of your business, and it will only be about a page long. This will be much faster to create, but if you seek out funding, investors may ask for more information.
Decide on your business’s legal structure
Choosing the correct legal structure is an important part of running your business. If you want to get started quickly and with as little hassle as possible, a sole proprietorship may be right for you.
With this type of business model, you don't have a partner or executive board to answer to, so you’re in complete control of all the decisions. Keep in mind, though, there is no legal separation between you and the business; you’re responsible for any debts and lawsuits that the business incurs.
In contrast, a limited liability company (LLC) provides more flexibility and creates a legal separation between you and the business; however, there is more paperwork to fill out, and you’ll have to file your business with the state.
Apply for your EIN
Your Employer Identification Number (EIN) is a federal tax number that will identify your business entity. If you ever plan to register your business as an LLC or hire employees, you’ll need an EIN.
Without an EIN, you’ll have to use your Social Security Number to identify your business, so applying for an EIN can help you keep your Social Security Number safe. You can apply for free on the IRS website and receive your EIN within minutes.
Set up a business bank account
Once you’ve established your business entity, you should set up a business bank account. This is important because it separates your personal finances from your business finances.
It’s a good idea to partner with a local bank so you can establish a personal relationship. Many people find that smaller banks are more helpful and are able to respond quickly if a problem occurs.
Look into insurance
There are a number of risks that come with running your own business, including lawsuits, data breaches or business interruption. So you should start by making sure you have the right insurance.
A good place to start is by looking into a Business Owner’s Policy (BOP). This type of insurance includes three different types of coverage:
It’s a good idea to speak to an insurance agent for recommendations that are specific to your business.
Set up a home office
If you plan to work from home, it’s a good idea to set up a designated home office. This can either be an empty room in your home or just a designated corner in your bedroom.
But you want to choose an area that will offer you a certain degree of privacy. Also, be mindful of the background, especially if you’ll have to conduct client calls regularly.
Work with an accountant
Taxes are confusing to most people, and they get even more complex when you’re running a small business. Plus, you need advice on how to structure your business, how to set up payroll and how to track your expenses. That’s why it’s a good idea to hire an accountant.
An accountant can help you with all of this and ensure that your business is up to date with the most recent tax laws. And in the unlikely event that your business is audited, an accountant can walk you through this process.
Check on any legal requirements
Anytime you’re starting a new business, it’s a good idea to check on the state and local requirements. Some states will require a business license or permit, and you could be fined for failing to follow these requirements.
Depending on the type of business you plan to run, you may need to look into local zoning laws. Once you’ve chosen a business structure and fulfilled your state’s registration requirements, check to see if there are any other laws that could affect your business.
Come up with a marketing plan
Marketing is crucial for building a successful business, but too many business owners go into it without a plan. This lack of planning often leads them to spend a bunch of money without seeing any real results. Or worse — something does work, but they have no way to recreate it.
That’s why it’s essential to start with a marketing plan. A marketing plan will outline how you plan to get the word out about your new business. It will typically include:
From there, you can outline your plans for your website, social media channels and company branding.
Test your business idea
Now it’s time to get out there and test your business idea, which means you need to focus on making some sales. After all, successful businesses are measured based on profitability.
There is no perfect plan to launch your business, and you may encounter many missteps in the beginning. It can help to partner with more established businesses to get your name out there and grow more quickly.
Regardless of the strategy you implement, you should be prepared to adjust as you go. The important thing is that you’re creating a solution that’s relevant and fills a need for your customers.
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
Productivity Habits
1. Cut your to-do list in half. Getting things done during your workday shouldn’t mean fitting in doing as much as possible in the sanctioned eight hours. Do you really need those 30 tasks on your to-do list? Take a less-is-more approach to your to-do list by only focusing on accomplishing things that matter.
2. Take more breaks. The ache in your brain after several long hours of work should be your signal to take a break. Since your brain has used up its glucose, give yourself a moment to refresh by going for a walk, grabbing lunch or a snack, or just meditating. You’ll come back recharged and ready to achieve greater efficiency.
3. Follow the 80/20 rule. Only 20 percent of what you do each day produces 80 percent of your results. Eliminate the things that don’t matter during your workday -- they have a minimal effect on your overall productivity. For example, break your next project down into steps and systematically remove tasks until you end up with the 20 percent that gets the 80 percent of results.
4. Use your morning to focus on yourself. It’s a big productivity killer to start your mornings by checking your email and your calendar. This allows others to dictate what you accomplish. Start your day out right by ignoring your emails in the morning and getting in a good breakfast, reading the news, meditating, or working out. This will ensure you’ve got the necessary fuel for a productive day.
5. Tackle your challenging tasks before lunch. Knock out your most challenging work when your brain is fresh. If you have any busy work or meetings, save them for the afternoon. By scheduling your day this way, you’ll be able to create a new and more productive way to manage your time.
6. Improve your email etiquette. Email is a productivity killer and usually a distraction from tasks that actually matter--don’t fall into this productivity trap. For example, people often copy multiple people on emails to get it off their plate, but this is a sign of laziness and actually distracts everyone else by creating noise against the tasks they’re trying to accomplish.
As a rule, if you receive an email where many people are CC'd, do everyone a favor by BCC’ing them on your reply. If your email chain goes beyond two replies, it’s time to pick up the phone.
7. Create a system. You’ve probably developed a few productivity-ruining habits over the years. Manage your distracting ways by creating a system. For those of you who check your emails compulsively, plan a morning, afternoon, and evening time slot to manage your inbox. Otherwise, you’ll get distracted from accomplishing more important goals throughout the day.
8. Stop confusing productivity with laziness. While no one likes admitting it, sheer laziness is the No. 1 contributor to lost productivity. In fact, a number of so-called time-saving methods – take meetings and emails for example – are actually just ways to get out of doing real work. Place your focus on doing the things that matter most as efficiently and effectively as possible.
9. Stop multi-tasking. Stop trying to do 10 things at once! Changing tasks more than 10 times a day drops your IQ an average of 10 points. Get things done more effectively and efficiently by focusing on one task at a time.
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
Complacency Kills Achievement
Complacency: a feeling of smug or uncritical satisfaction with oneself or one's achievements.
But before complacency can make you its host, you first need to adopt one inimical habit — stave off on self-reflection. Since complacency requires you to have an uncritical satisfaction with your achievements, the first step towards this state would be to stop reflecting on your experiences.
Then either one of these mindsets follow:
Does this sound familiar? If it does, you’re about to find this article very relatable. If not, still stick around; we’re about to delve into the effects this mindset has on your life so that you can be more aware of its adverse effects.
How Complacency Affects Your Life
For the sake of organization, I’ll split this section up into three categories — personal life, career, and relationships.
Personal
Career
Relationships
Hopefully, by now, you have a sense of how detrimental this mindset can be if you want to reach your optimal self. If you can identify some of these qualities in yourself, worry not! I’ll get into tips on how to defeat it.
How to Overcome/Avoid Complacency
I won’t say it’s easy to get past this mindset — especially if you’ve struggled with it for a while. Still, by tweaking your habits little by little, you can make your journey go along more smoothly.
Here are the four main ways you can overcome complacency.
1. Find Your “Why”
The easiest way to get back on a productive track is to know why you’re trying so hard in the first place. It’s not always easy to be sure of what your motivation is, but you can get started by taking a few minutes to reflect on your motives. Keep asking yourself, “why do I want to do this?” until you can’t ask it anymore.
Even if you don’t get to the core of the problem in the first try, you’ll at least still have a more definite trajectory than before. Do this exercise whenever you feel like you’re losing momentum again.
2. Make self-reflection a priority
Set aside 10–15 minutes each day to reflect on what you did that day and whether you are content with the way your life is playing out. Ask yourself what you can improve on and how you can keep aiming high to avoid falling back on complacency.
Make it a point to set action items after your reflection so that you follow through with your plans rather than making your progress a fantasy. Writing them down and asking people to keep you accountable helps if you know you’ll have a hard time following through with it.
3. Construct Principles for Your Life
This one was inspired by a book I’m reading called “Principles” by Ray Dalio, the co-founder and previous CEO of Bridgewater Associates.
In his book, he explains that building principles for your life make your actions more efficient since they provide you with a systematic guide to success.
In this case, the purpose of the principles would be to prevent you from falling back on negative habits or patterns of thinking. For example, if you notice that your day is more unproductive if you start it by checking social media, construct a principle like “read an article on Medium instead of checking Instagram when you wake up” and stick with it. Remember — it’s easier to abide by your standards 100% of the time than 98%.
Make sure your principles are specific and relevant. Revisit them often and make adjustments if necessary — the primary quality principles should have is that they work. Two principles I recommend to combat complacency is:
4. Build Discipline
I consider discipline to be one of the most valuable virtues one can develop; if you can conquer your mind, you can conquer anything. However, discipline is especially useful in this scenario since it will help with stepping away from a bias towards instant gratification and following through with your principles.
Some ways to build discipline are:
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
Calling Audibles
Calling Audibles: is to decide what to do at the last second after seeing all possible options and obstacles that come up.
Sight
Options:
Obstacles:
Do you even need to call an audible?
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
POSITIVE THINKING
Focus on the present
Embrace your creative brain
Treat your failure as a learning lesion
Be confident and fearless
Visualize your success on a daily basis
Surround yourself with positive people
Remember you are in a marathon not a sprint
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
The reason I have not be make podcast is because I have been battling Covid-19 for the last 3 weeks. Good news is that I am getting better and should be back making podcast very soon. Thanks everyone for listening.
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
PURPOSE, PASSION & TALENTS
Purpose and passion are distinct. Purpose is the reason, or the why behind what we do, primarily for others, i.e, “do what contributes.” Passion is about emotions, the motivation and what makes us feel good, i.e. “do what you love”. Where passion can be all over the place, wild and exciting, purpose is much more focused. Passions can also come and go, whereas purpose tends to be longer term. Finally, passions are inwardly focused whereas purpose is outwardly focused on the greater impact you have on others and on your surroundings.
Passion is about “What” and purpose is about “Why” and talent is about “How”!
A friend of mine who was looking to start a business asked me if he should do something he’s passionate about or something he’s good at. In my own experience, it doesn’t have to be an either/or question. The magic happens when you figure out a way to align your purpose, your passions AND your talents. – wespire.com
Purpose is your DRIVE!
Passion is your FUEL!
Talents make it REALITY!
When Purpose, passion and talents align it is magical!
Questions to help discover your purpose!
Questions to help discover your passion!
To start connecting your passion with purpose, the following are practical suggestions to consider:
1. Examine Your Life
In whatever stage of life that you are, you can re-examine your life and journey. Do a soul-search on what your true passion and purpose are. This may require that you take time out of your current schedules and retreat to a place where you can focus only on yourself. You can plan this for your next holiday.
You can also start by reading more on the subjects of passion and purpose to prepare your mind and guide you in your self-evaluation.
2. Begin to Live With Conviction
When you have figured out what your passion and purpose are, let it reflect in your life. Begin to live every day with your new conviction. Let it reflect in how you spend your time, what you read about, what you talk about, and what you devote yourself to. Begin to see things in your life through the lens of your conviction.
You’ll also begin to consider how you can use your daily encounters to keep yourself in the direction of your conviction.
3. Redirect Your Passion
To connect your passion with purpose, you might have to begin to redirect your passion. This is because you might have been using your energy and abilities on the wrong things. But when you have figured out why you have those energies, desires, and interests as earlier mentioned, then you should redirect your passion towards your conviction.
4. Embrace New Opportunities
What you are currently involved in probably does not represent your true passion and purpose at all. It might be your job or chosen career, things you’ve spent a good part of your years pursuing and developing. You may not have to quit those things, but you can look for new opportunities to express your true passion and purpose.
5. Make Major Adjustments
To really experience fulfillment in life, you might need to make major adjustments. This might affect your current career path or whatever else you are involved in. There is no price that is too much to pay to earn yourself the kind of life that you truly deserve. You don’t have to continue to be what the “system” has made you be when you know that it won’t lead to where you truly belong.
Leon Ho - Lifehack
I am inviting you to check out my resources page. It is completely FREE and has a ton information and some downloads. You can find it at resources.xpansioncode.com.
I will be releasing new episodes every Monday, Wednesday, and Friday!
If you like this podcast, then check out my newsletter called Xpansion Press. Business content delivered to your inbox. Just click here to sign up.
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