Business Coach : Bring On The Entrepreneurs
-Now moving on to step 16 here. Eventually, you’re going to have to become your own boss, be your own boss. Now, I know anybody watching is going to be like, well, that’s it. I’m quitting my job. No, that’s not what we’re saying. According to Thomas J Stanley, Ph.D., William Danko, Ph.D., these guys did the research for the book, “The Millionaire Next Door” because is their book.
TIM: Great book.
-They said, “Self-employed people make up less than 20% of the workers in America but account for two-thirds of the millionaires.”
-W. Randall Jones in his book, “The Richest Man in Town,” says that, “According to the Federal Reserve Board in 2007, the average net worth of self-employed people was an impressive 1.3 million, more than six times the average net worth of the average worker.” Tim, also in “The Richest Man in Town,” W. Randall Jones says that 94 of the 100 richest men in town that he interviewed– he went to every town across America and interviewed the richest people– again, he says here that 94 of the 100 he found, these guys had the title of “founder.” They were the founder of their own business, OK? And they did it without a business coach.
So what we’re saying is at some point, you’re going to have to start your own business as a general rule, or invest in the business that you work for. Either be an investor where you work or start your own business. How do you know when it’s the right time to jump in to do it? Ask a business coach.
-Well, it’s you want to develop skills. And a lot of people have this mindset, this romantic notion, I want to be an entrepreneur, but I’m stuck in this stupid job. And I’m doing the work and I’m doing everything else, and they’re half hearted into this. And the way they apply themselves working for somebody else, that’s what’s going to show up when they’re working for their own selves.
-And so you set in motion your entrepreneur spirit in how you work for somebody else. Any business coach will tell you that. I like to tell people, pretend that you are a consultant, and this company that you work for is hiring you. And every day, you’ve got to prove why they should rehire you as a consultant to come back. You want to give them your best ideas. You want to give them your best energy.
Because you’re setting in motion your habits of how you’re going to do your own business. And so when you do this, well, when you’ve got the habits nailed down where you got somebody wanting to promote you and move you up, if you get fired from a job– now, sometimes great companies get started when you’re fired. But when you get fired because you’re doing a half assed job in your work, don’t think that’s going to liberate you the to apply the same half assed attitude towards starting a new business, because that’s going to fail.
-I’ve worked with a lot of people who’ve gone from being an employee to being self-employed. And a rule that I like to say– and I don’t know if you’ll agree with this, but I always tell them, in a perfect world, have six months of income saved, six months. So when bad things happen, you can absorb it and not freak out, six months. I always tell them too, don’t leave until you’ve conquered your current job.
So once you’ve got to the top of that job, you’re the best sales guy in that company, you’re the best producer in that company, you’re the best whatever job it is. If you work in the daycare industry, before you start your own, make sure you’re the best daycare provider in that company. So you build that habit we were talking about.
Now, we’re moving on to step 17. Don’t waste time. This ties into some things we talked about earlier. We’re going to hammer this home. Thomas Corley in, his book “Rich Habits: The Daily Success Habits of Wealthy Individuals,” says that “6% of wealthy people watch reality shows compared to 78% of the poor.” Now, we’re not ripping reality shows. We’re just giving unbiased statistics.
Moving on here now. According to “Rich Habits: The Daily Success Habits of Wealthy Individuals,” 63% of rich people listen to self-help audio on their daily commute. What we’re saying is that rich people are always looking for an opportunity to learn more, earn more, to add more value. And poor people are usually distracted, maybe?
-Easily distracted. Now, I want to say self-help audio and then with Thrive15, audio and video.
-While you’re driving, that’s a dangerous thing. But if you’re in a subway, you do it. If you’re in the subway, you do that. If you’re in the bus, you do it. Now, if you’re driving your car and you’re watch some interactive video, I don’t want a part of that– although maybe if your wife can drive or your husband can drive, maybe you can do it that way.
-So why do you want to? I mean, if you’re already rich, if you’re already there, why do you want to do this more? It’s rich people continually feed themselves. It’s this wealth is built on a foundation of learning. And learning is getting new information, so you look at the world differently, different perspectives so you can adapt and begin to conquer and as each new landscape appears differently, so.
-Now I want to give the final two steps here. And if you’re watching this, I’m telling you, if you apply these steps and then you deep dive into the Thrive business coach platform, your growth is going to be explosive.
TIM: Very good.