In this week’s session, I’m going to talk about the concept of “What does wealth mean to you?” I was introduced to this many years ago when I read the book, “The No BS Guide to Time Management” by Dan Kennedy.
Everyone has their idea of what true wealth is. I know there was a point in my life when I viewed true wealth as making millions of dollars. Having achieved that, I realized that money isn’t the only part of wealth. Our time and how we spend it is much more important. Time is the only commodity that you can’t earn more of. Our time on Earth is limited. We can either choose to continue going through the status quo of life and taking what the world gives us or we can make the choices that will positively influence our future. It takes laser-like focus and sacrifice to make those changes. However, it is well worth it when it pays off. Being able to make enough money to do the things that you want to do with the people we love is how I define true wealth. Fortunately, for all of us, we live in the greatest country in the world where if we have a dream and the oomph to work hard towards that dream, we can make it happen.
A big hindrance of building wealth is opportunity cost which is spending your time on wasteful stuff instead of on important action items like revenue producing activities.
For example, let’s say you have a 9 to 5 job and you make $20 an hour or $800 per week. After work, you grab some dinner and either hop on the internet or watch some TV. The average American watches over 28 hours of TV per week. Wow. That’s over 1,400 hours per year. Crazy, huh? Now, what if you spent that 28 hours each week running a side business instead, how much do you think could you earn per hour owning a side business? $20 per hour? $50 per hour? How about $150 per hour? If you do the math, you’ll quickly see what a bad investment of your time that TV is. And once you get your side business going, you can get rid of that 9 to 5 job once and for all if you choose to.
The first step toward building the wealth you deserve and desire is to set your goals.
Ask yourself these questions:
What would I like to do for fun that I can’t afford right now?
If I could travel anywhere, where would I go?
How much would it cost me?
How long will I have to save to do these things?
What am I doing right now to bring myself closer to these goals?
The tax business is an amazing way to be in control of your own destiny and work towards achieving these goals. It is seasonal and just about everyone in the country is a prospective client with 150 million tax returns filed each year. 62% of those returns are prepared by paid preparers and that has been consistent for many years. In fact, it is up from only 46% in 1985. In the case of Happy Tax, you don’t need to quit your job or learn taxes in order to get started earning money as a franchisee. Plus, you don’t need to sign risky leases or hire costly employees. Our model is revolutionizing the industry. Clients want convenience and professionalism. Our cutting edge platform provides both for consumers as well as giving you the foundation to achieve the success you desire.
Have a wonderful and productive rest of the week and take care.