The thought of building wealth might sound like a daunting task. It’s quite simple, actually.
I didn’t attain success and wealth from flying by the seat of my pants. In my book,
“Wealth Can’t Wait,” I explain a plan that I still use today to increase my wealth.
Like anything else in life, it helps to have a plan.
For building wealth: it’s imperative. As Paul Morris says, it’s “a vision for the future.”
Whatever it is you want to do: invest in real estate, start a business, or expand a business you already have, draw out a blueprint for how you’ll get yourself there. If you’re starting from scratch and want to buy and sell homes, one of the first items on that list would be to figure out how to get your real estate license.If you want to start a business, bolster your knowledge on your particular area of expertise.
No goal is too lofty or impossible. If you plan for it, it’s more likely to happen.
It’s very easy to talk about what you want to do. It’s very easy to make a plan for what you want to do.
Don’t talk about the photography business you want. Go out and take pictures.
Don’t think about becoming a real estate agent. Get your license and learn the market.
While you put your plan to action, align yourself with the right Team of people. Positive people, successful people, motivated people. Be inspired by leaders, experts, owners, innovators. Surround yourself with those who will help you grow, show you the best practices, and support you along the way. Hire talented employees who want to grow and be inspired just as much as you. It’s equally important to delegate others who will handle details, giving you more time to continue motivating the big picture. In turn, your company, worth, and wealth…. will grow too.
This step in PATH is the trickiest and easiest to ignore. You may be a genius, however, forgetting the importance of this step means the difference between short-lived success and ultimate wealth building.
Hire a coach, teacher, counselor, guru, anyone who will constantly move the goal post and push you further.
Michael Phelps didn’t win record setting gold medals from getting in a pool, swimming as fast as he could, and hope for the best - he hired the best coach to push him to greatness, someone who would hold him accountable for building strength, gaining speed, improving technique, all of it. It’s the same for building wealth.
So, while you take the PATH towards wealth, remember there are steps along the way that don’t require a degree or luck, just your ability to put one foot in front of the other.