It doesn’t matter if you make $10,000 or $400,000 a year, if you want to become wealthy you need income first. You could be in poverty, you could be making $30,000 a year with a family of four, you could be a single mother making $19,000 or maybe most or all of your money comes from the government. We all start from somewhere. Maybe you’re in the middle class. Maybe you only have enough money left each month to go to the movies and have dinner out once a month–and if you go twice you won’t be able to make your bills on time.
Maybe you’re making between $70,000 and $110,000 a year and have been for a while. You’re better off than those in your neighborhood. You have a better car, you don’t worry about bills, you don’t worry about new clothes for your kids—but you never have quite enough to make a big play to push into a wealth position. You feel like you’re never going to get rich.
No matter how much income you have, creating income is the front door you must walk through before getting wealthy. You need to learn to create revenue… and then get even better at it. I create more revenue in shorter periods of time now compared to in the past. I first had to learn to create revenue—and then I got better at it. Income is your first step, your entry, your front door to wealth.
You must fortify this thing and make it strong. You have to add value to what you do to make it bigger and you even if you hate your job—or your current position in life—never complain about the income. No matter how small it is, how dirty your hands have to get, don’t complain. I’ve done jobs I hate. I still do jobs today I hate. I never complain about them.
Never complain about the job you have. Your job is creating income and making sure you have a job that will be there for you tomorrow. Once you’ve made sure of that, fortify it and make sure you cannot be replaced by some piece of technology or new employee. Make sure you become that person the organization you are with wants to continue to send income.
All wealth starts with this front door
right here: Income.
Once you have begun to create income your only concern should be to increase your income. The only thing you should care about is, “How do I increase this income I created from this first job?” I’m not saying to get a second job, a third job or a fourth job. I’m saying to increase the income of the first stream you created. Get it?
Whether you are mowing lawns or selling stocks as this first stream of income, once you have fortified this income don’t go start a new business. Don’t look for a second flow elsewhere. Make your first flow bigger, make it juicier, and increase the intensity of it. Don’t even worry about saving right now—all you want to do is get a job and increase that income flow.
Most people are satisfied because they are comparing their situation to someone else’s and that’s where they stop. They stop their wealth creation once they have surpassed someone else’s situation in life and then wonder why they never become wealthy. People don’t get wealthy creating one income flow and never increasing that income.
Think of it like water. You’re at an oasis, you drink and get one bottle. You think you’re fine, you’re hydrated and that’s good so you go on your way. Then another guy comes by and drinks and fills up a bottle, then waters his camel and fills up that bottle again and again before leaving. He knows when he’s further on he won’t have access to that oasis. And you go to take a sip and your one bottle already went empty miles back, so now you’re thirsty again.
Don’t depend on one flow that never increases. Your first flows of income must be symbiotic. The dictionary defines symbiotic as, “having an interdependent relationship.” What that means here is that once you have one flow you don’t go make a second flow somewhere else in another company, for another business or with something that isn’t like your first flow.
For me I worked a sales job. I got paid $250 every week. I created income, but I couldn’t become wealthy making $250 a week so I had to figure out how to fortify that. I worked commission so I had to learn how to get our product successfully into the hands of someone who wanted it—more sales meant more income. I increased my income from $250 a week to $2,500 and my confidence exploded.
I had to find a second flow that went with my first flow—sales. So I started helping with financing deals. I started to bring in more leads and take them to the service department and the repair department. Instead of the company paying outside people to bring in leads they started to pay me to bring leads to different departments. A second flow symbiotic to the first. I didn’t go anywhere and it helped my first flow grow.
Your flows must work together to
make each flow stronger.
You must be able to control the space around you before you can go wide. This company I started bringing leads to sold warranties as well, so I asked if I could bring them leads for that and what happened? Another flow of income. I looked into referrals and made buddies with the other people I competed with—I couldn’t sell every customer so I gave them to my competition for a referral fee. That way I could make money on any lead, sold, unsold, another department, anywhere that lead went I got a flow.
Then I started buying our product and selling it from home. Now I’m 25 with my base income, my commission, my service leads, financing, referrals, buying and reselling the product—one place and now I have around 7 flows of income. All from different sources but all from the same location. I didn’t have to go anywhere else for all this. I’m up to like 12 hours a day. I didn’t get a second job, a third or fourth job. Seven flows with only one job.
What’s the point of all this? Control the 3 feet around you before you go out and try to conquer the world. You need to be able to dominate your space before you can go out, fortify that first flow and build your other flows next to it. You need symbiotic, parallel income flows at the job you have now.
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Grant Cardone is a New York Times bestselling author and an internationally renown speaker on leadership, real estate investing, entrepreneurship, and finance. His 5 privately held companies have annual revenues exceeding $100 million. His latest book Be Obsessed or be Average released October 2016. Grant is a Faculty member at XTRAcredits who provides professionals across NOrth America including Certified Financial Planners at FPSC and CFP Board, pre-approved courses in the areas of sales, leadership and communication and you can learn more at Grant Cardone.com