Saturday Success: 3 major problems, wealth in 2 steps & business advice for all
Making life & money work for you.
Welcome back to the Saturday Success Series email!
This week we have:
Master Yourself: 3 major problems
Master Your Money: Get wealthy in 2 steps
The Weekly Special: Advice for business
The goal here is maximum value, so let’s get to it.
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Master Yourself
You can only control yourself and be a role model for others.
Our society is kinda wacked.
You might’ve noticed this yourself and are sort of sitting there like “yeah, no duh”.
We’re more divided than ever. We sweat over the dumbest stuff. We argue over everything you can think of.
Inflation is high. Morale is low. Mortgage & rent are high. Savings are low.
And a question many ponder is, how did we get here?
Well, the quick answer is, we got here slowly then very quickly.
There were slight shifts, the those shifts snowballed. And now we have 2 main problems.
These problems are the root of what’s wrong.
Problem 1: The belief that everyone’s opinion is equal.
Problem 2: The belief that every feeling is valid.
Problem 3: The belief that feelings are more important than facts.
Truth 1: all opinions are not created equal.
An opinion from Bob down the street is not equal to educated opinion from an expert in said field.
Some of those among us are real, deep thinkers. Others are reactive, first level thinkers. Their opinions aren’t equal.
Truth 2: not every is feeling is valid.
Sometimes your feelings are ridiculous. And that’s okay.
Happens to all of us.
The difference is, reasonable people understand that not all of their feelings are valid.
Unreasonable people do not.
Truth 3: feelings are not more important than facts.
I feel like I should be able to play in the NFL. I love the sport. I know a lot about it.
But the fact is, I’m not qualified. I don’t deserve a tryout.
And we’re slowly making this shift to accepting unqualified people or people who don’t belong doing something and acting as if it’s not absurd to have them in certain roles.
People say they’re in danger because the wrong pronoun was used. That’s a feeling.
The fact is, you’re not in real danger. Unless you consider hurt feelings dangerous. Which scarily enough, some people do.
You can’t fix society. But, you can fix your mindset.
Build these truths into your mental models. Accept them. Work inside reality. Your results will be superior.
Master Your Money
First things first- wealthy is a mindset, not just a financial goal.
Wealthy people appreciate freedom, security & the ability to be generous. They also like to build generational wealth.
Rich people enjoy things. Flashy houses, cars & watches. And they want them now. They also tend to spend most of what they make.
Wealthy people build in terms of decades, not days. You want to be wealthy.
Step One to Wealth: Create a positive cash flow.
Create a cash flow sheet. It’s simple- what comes in, what goes out and how much you invest each month.
If you find yourself in a negative cash flow…you spend more than you earn…fix it immediately. See where you can cut costs.
To increase cash coming in focus on increasing your earning potential. This means skill building, side hustle creation, second jobs, etc.
Step Two to Wealth: Purchase assets with your positive cash flow.
What are assets? Anything that will make you more money over time.
This is stocks, real estate, crypto, etc. The barriers to entry are low. You can open accounts with low to no minimums.
You can purchase fractional shares of stocks. You can purchases pieces of crypto coins. You can even crowdfund real estate (Fundrise).
You’re not too broke to invest. What you will be is always broke if you don’t.
The formula for financial success is simple enough. It’s just hard for most people to follow through.
With money you have to:
Earn it
Keep it
Grow it
Earning- pretty easy. Build some skills and get a job.
Growing- pretty easy. Invest for the long-term.
But keeping? This requires your discipline and mastering your own psychology.
The human mind wants to think in short term goals. Our instincts are based around surviving today. Not planning for retirement in 20 years.
But, you can override this.
It helps when you focus on cash flow & assets at the same time. Cash flow helps you live well today while assets build your tomorrow.
Weekly Special
Advice for Women (And Honestly, Men) in Business
I had the privilege of serving as a panel member for my company’s International Women’s Day webinar.
Here were the questions & my answers. My hope? They help you like they helped some of our listeners.
As members of a younger demographic, what have your experiences been as young women in the business world? Do you feel as though you’ve been given equal opportunities, chances for advancement and support?
I’m in a unique position.
I’m gay.
Being gay comes with its own set of issues as to how the world views you. But in business, it’s been a good thing.
Most leadership roles are held by men and many men are scared to mentor women.
Most of my mentors are men. Being gay breaks down that barrier and they’re more comfortable speaking with me & helping me. No agenda, no wife worrying about why we’re speaking at 8pm, etc.
It’s not fair, but it’s reality. The dynamic with straight male/female mentorship is different.
What are some frustrations and challenges you’ve had as a woman, whether it be in school or in the workplace?
Biggest frustration of mine? Being matter of fact comes off as rude.
My brain tends to work more logically than emotionally and I’m usually eager to get to the point. It feels like it’s more acceptable for men to do this than women.
I think it’s important to keep in mind when dealing with anyone in business- people rarely have ill intent. Be open to various communication styles.
What are 1–2 mistakes you’ve learned from or things you would have done differently as it relates to your career?
Not taking chances sooner. Or asking for things early on.
Make the jump to the new job or role. Ask for promotions or opportunities.
The worst case? You get told no. A lot of times a ‘no’ now is not a ‘no’ forever.
In your experience, what’s the advantage of having women’s voices heard and their influence felt at a company? What traits do women bring to the table?
I think every woman is different in personality obviously, but women tend to be more empathetic.
They understand feelings better and humans are feelings based whether we believe it or not.
Humans make decisions and buy things using our emotions then justify with logic. Women are better at understanding the underlying emotions.
What are some ways that male and female bosses differ, insofar as management styles?
Most of my male bosses were more blunt.
Women tend to spend more time explaining their reasoning.
Men should probably spend more time explaining too so everyone’s on the same page.
What can businesses do better regarding their female staffers?
Some women may be more nervous about speaking up, so asking for their input is a good start.
Whenever you notice team members leaning toward the shy side or not giving feedback, ask them. Maybe you have to do it privately, just do it.
What are some of the smartest business lessons you’ve learned that can help anyone — regardless of gender — succeed?
Be likable. People like working with and doing business with people they like. So, don’t be a jerk and avoid jerks.
Engage. Lean into your work and your company’s vision & culture. I hated my job at 24, until I realized I was the problem. So I decided to try. To work hard and show up every day with a good attitude. Now it’s been 11 years of bliss :)
Can you share some tips for having a good work life balance?
Schedule your days.
I build rest and fun into every single day. I know what I should be doing and when, which reduces stress and ensures everything gets done.
What advice would you give to your 14-year-old self?
The single biggest piece of advice I have- start investing now.
Invest in:
Your health.
Your financial future.
Your best relationships.
Your education and skills.
You’ll learn the life lessons as they come and that’s the only real way to learn them. But you can’t get back time you weren’t investing.
Thanks for reading! If you found this valuable, please share with someone who could use it. See you next Saturday!
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