One of your goals for the new year was to accumulate enough money to allow you to build an orphanage, to set your husband or wife free from the corporate world, in short, to gain enough money to accomplish what you must.
Some people have a hard time with wealth. I know I certainly did. My dad was a minister, on the mission field for over 30 years in Brazil. Money? What little we had was to be used in the work, and if there was any left over, my parents always felt bad about buying anything for themselves.
Boy, is that messed up thinking.
So scrap that thought and let’s agree that money isn’t the root of all evil and that God’s kids should have as much of it as anyone else and not feel guilty about it. Are you with me?
Most people I run into at meetings and conventions talk, but, they aren’t serious about becoming wealthy. There are five main ways fortunes are made in this country; see if you fall into one:
First, self-owned businesses. Entrepreneurship of all kinds. 74% of self-made millionaires in America – not only in this generation and in this century – but last century, too – were self-employed.
A few people inherited their own businesses, but if you started yours from scratch, you’re in good company. In the 19th century, great fortunes were made by Andrew Carnegie, Jacob van Astor, Thomas Edison, Commodore Vanderbilt, J.P. Morgan, not to mention thousands of others who did not receive celebrity status.
Man, in the last few years, we’ve seen people like Bill Gates, Steve Case, Larry Ellison, Ross Perot, and Sam Walton start businesses from scratch – they started with nothing!
Second source of millionaires are corporate types. People who rose through the ranks and were given stock options. Some of these made so much – Michael Eisner of Disney – $126 million in a single year. Lee Iacoca of Chrysler, $26 million.
Thirdly we have doctors, lawyers and other professionals. The top five earn 10 to 20 times as much as the average in this field.
Fourth are sales consultants. Five percent of self-made millionaires are men and women who are tops in sales in their field.
Finally, one percent come from people in all other areas. Inventions, show business, sports, authors, books, songs, lottery winners, inheritances.
Bottomline, there are so many ways to become self-made that if you are really serious, you will make it. I love the self-employed group. I walked away from corporate America in 1998.
Okay – time for some work. If you’re serious – decide what it is you really enjoy doing and then throw your whole heart into doing it extremely well. There is a direct relationship between excellent performance and big income.
Secondly, be brutally honest with you – on an ongoing basis. Is what you are doing right now going to lead you to the financial place you can afford to fund your goals? Or, do you have to make some serious changes? Whatever you answer here – act on it right now. And then write me about it. I love to hear your stories. I promise to help if I can.