7 Strategies To Start Growing Your Assets
Jun 01, 2020
It’s been said that to become a millionaire, you need at least seven streams of income. Now, you don’t create all at the same time. Focus on one at a time, and once that one is working, then work on the next one.
We all want to create sexy assets, but for us to succeed at building those assets, there is an underlying problem that we need to resolve. We have to work on our perspective on money and finances.
Here are 7 strategies that will help you grow your assets:
- Mindset- Money problems are mindset problems; there is a disconnect between our mindset and our bank accounts. Money problems are not necessarily more money sometimes is also where are our priorities at this time, is it in the instant gratification? I always say delay gratification and embrace anticipation.
- Create a spending plan- a spending plan is not just a budget, this is not what we are here about, we are here to be intentional about where we put our money and hopefully, we are putting our money is in sexy assets.
- Pay yourself first- We need to create habits where we put ourselves first. Why would we pay everyone else before us? You are paying your mortgage, your debt, car, etc.… Warren Buffet always said, don’t save what is left after spending, but spend what is left after saving.
- Become financially educated, you have to understand money, you cannot say oh I don’t know, you have to say how can I know and put their money in investments in places that are pandemic proof and recession-proof and there are options out there. Still, if we don’t know what they are, we will be missing out. In any adversity, there is an opportunity, instead of focusing on the negative, or how bad things are, look for ways to grow, we are like carbon pieces, that unless there is a pressure we don’t become a diamond.
The best way to do that is by asking yourself, what do people need right now, and figure out a way to give it to them.
What is happening today is going to continue happening, because the market is cyclical, there is a time of compression, and there is a time of expansion, this is nothing new, we just need to be prepared. - Power of Associations, I want you to do a quick exercise: write down the five people that you hang out with the most and calculate their income and add it all together and then divide it by 5, which will equate your average income. So if that is not your desire income, that means that you need to find new associations.
So this is the time to find your opportunity, this is the time to help someone solve a problem, and carve a plan. - Automation - we want to have a plan to make everything automated. Automate and liberate. When you master the art of automation, that means freedom because everything will happen even if you are not there. Everything has been planned in advance. So you could be at the top of the Eiffel Tower, and your business is still running with no issues. Could you imagine what your life would look like if you achieve this?
- Exit strategy- An exit strategy equals nirvana. If you build a business and assets that allowed you to sell it and keep multiplying, even more, your assets, its absolute freedom.
You can probably do this alone, but you will get farther if you have the right support by your side. I am here to help you achieve your financial goals. Just reach out. https://www.sarachevere.com/pages/calendar
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