Income is not wealth. People that try to look rich usually aren't.
Financial independence is when your assets are generating more income than you do as a person.
But to start the journey we do need to increase our income generating ability and earning power.
I’m going to give you some core concepts and truths to build your foundation on.
When you know and apply this secret, you’ll become an unstoppable force in your job, career, business, social life and more.
Memorize this law: The market place pays for value.
So the logical question you should be asking yourself is… how do I increase my VALUE to the market to survive and thrive in the new economy?
I’m going to tell you right now by giving you THE formula.
There are (4) ways to increase your VALUE to the market and exponentially grow your “earned” income (the money you work for vs the money that works for you):
- Knowledge - specialized or general, ability to connect the dots, see the bigger picture and solve problems
- Skill - ability to apply knowledge as a craftsman, work with people and solve problems to get things done
- Contacts - ability to make new contacts, socialize, network, develop and maintain relationships
- Action (or work ethic) - all out massive action, hard work and focus can make up for whatever you lack in the other areas (I’ll take desire and work ethic over smarts any day - this is a person who slowly but surely dominates because they never give up, they keep learning and applying)
Doubling your focus and ability in any one of the above categories will double your earned income guaranteed.
If you grow all 4 areas simultaneously, you’re looking at exponential and unstoppable income growth.
Now often for simplicity we'll state this law as "The market place pays for value and you increase your value by increasing your skill set."
But I just gave you the literal formula above that expands this generic "skills" word into 4 very distinct categories.
Now I'm going to take a quick moment to expand it a just little further.
In the new economy there are 3 general categories of power skills that you must learn (and master) to survive the rise of the machines:
- People skills - sales, marketing, management and team development, project management, conflict resolution, public speaking, social and networking (as an introvert, this one is the hardest for me personally by the way)
- Critical thinking skills - ability to connect the dots, see the big picture, abstract, context, relative, patterns, trends, logic, reasoning
- Creative problem solving skills - thinking outside the box, product development, innovation, disruption, optimization
There's one more thing.
STEM and the Trades.
STEM = science, technology, engineering and math.
Trades = people who build and maintain very important real physical stuff with their hands.
These core value "hard" skills are in critical demand in both the new (digital) and the old (physical) economy.
But learning and mastering the above "soft" power skills will hyper accelerate your growth and results if your area of gifting and expertise is STEM or Trade related.
Now here's the bad news.
Increasing your income isn’t enough to become financial independent and free.
Most people who increase their income, without having a strategic money management and investment system only end up increasing their lifestyle and debt.
That’s why in True Wealth Formula we always start with the consumption side of the equation before tackling the production side.
Then once we get the core systems in place (including dealing with and learning to counter our own human nature) we get into mastering the investing game, compounding our money and making it our slave.
But the above should give you a great start.
And if you’re serious about mastering your money, about getting your money working for you instead of you working for your money, you’ll want to signup to learn, apply and master the True Wealth Formula.
Once you learn these TWF principles and secrets, you can NEVER unlearn them.
They literally make you super human because so few people know and understand this information. Even fewer have a strategy to automate the wealth building process.
It took me years and literally a million dollar real world education to learn.
Until then… start thinking about how you can increase your knowledge, skill, contact and action to grow your earned income.
From there, you’ll want to put a system in place to eliminate debt, then make your money start working for you to produce an automated cash flow machine via cash flow assets and wise speculations!