We all are yearning for financial FREEDOM. They say wealth is just a code for “freedom”, which is the ultimate gift of life. Why do we go to work every day? Why do we go to school for certain degrees? Why do we go after certifications that add value to our resume? Why do we set goals for our life? These actions lead to our “Why”, for everything we do or fail to do in our lives. Some people create financial goals that will help them reach the land of financial freedom. Some people have a certain amount of money to be saved before they retire comfortably. Wealth is built by one good decision at a time. Therefore your destiny is determined by your decisions.
In the book, “Wealth Can’t Wait”, by David Orsborn and Paul Morris, they suggest that everyone should create a wealth vision. They explain you have to plan for wealth, take action steps to move yourself forward, work with people that have knowledge about wealth creation and hold yourself accountable. Martin Luther King once said, “The line of progress is never straight.” You have to be intentional on learning everything you can about wealth creation and implementing the strategies into action. Thinking of yourself as a corporation, you will naturally build wealth. Corporations have multiple streams of revenue. Studies say the average millionaire has seven streams of income.
Everyone earns two forms of income. Earned income is where you put the time in and work for it. Passive income is where it comes without any time or work rendered by you. Shift your thinking from working for money to working for WEALTH! This mindset will inspire you to start thinking about new ways you can increase your income streams. Osborn and Morris, also explained, “The seven habits that build wealth.”
Live life by design. Start with the end in mind.
Make business decisions based on solid fundamentals. Do your homework, read and research first.
Stick with what you know and drill deep. Build where you can make a difference.
Earn more by learning more.
Chunk down big goals and hold yourself accountable daily.
Spend less than you earn and invest the rest.
Let go of the small stuff.
Write down your vision and make it plain. Helen Keller is coined for saying; the worst thing is to have sight with no vision.” Wealth creation starts with a decision to implement the daily habits that lead to financial freedom. Spend less than you earn. Save money to invest in vehicles that create more money. Wealth is what you don’t see and can’t spend.
Quote of the Day: “Energy and imagination are the springboards to wealth creation.”-Brian Tracy
The Shoe Dog Billionaire, by Phil Knight is a remarkable story that explains the honest path to business success. From running track at the University of Oregon to meeting his first business partner Bill Bowerman who coached him in college. Bowerman, the mastermind behind the first designs and implementation of improving the experience for every athlete performing in Nikes. The book takes you through a roller coaster ride of how Knight started Blue Ribbon Sports and changed the name to Nike in 1971. Winning law a suit from one of the biggest Japanese shoe companies that he partnered up with to create shoes for his company Blue Ribbon Sports, to owing $25 million to the United States Custom Service.
Knight had a unique leadership style of giving
autonomy without affirming you of your success. Knight would push you to never rest
on your laurels, but to build a hunger for more. Knight was an athlete at heart
with a competitive spirit to always find a way to WIN. His leadership style
pushed you to discover your unique gifts and to maximize them to your best
ability. What Warren Buffet calls, defining your circle of competence. By the
90s Nike had finally overcame there achilles hill, “Adidas” as the number one shoe
company in the world.
The Nike swoosh logo that Knight paid Carolyn
Davidson only $35 to own, changed the brand to what people now know worldwide. The
growth of Nike skyrocketed after the change of their logo and helped expand nationally.
Despite the growth, Knight was constantly looking for ways to be mentally present
and balance family life with his wife Penny and two sons. Success demands
sacrifice. Knight believed, “Hard work is critical, a good team is essential,
brains and determination are invaluable, but luck may decide the outcome.”
From signing the likes of Tiger Woods, Michael Jordan, Bo Jackson, and Andre Agassi, Nike has recreated the shoe and sports apparel industry. With over 1.152 retail stores today and a networth of 34.8 billion. Nike employs over 73,100 people worldwide. They consistently pivot and innovate on all levels within there company. I will leave you with the last passage from the book She Dog Billionaire that defines who Phil Knight is and what compelled him to keep going through the storms he endured. “Have faith in yourself but have faith in FAITH. Not faith as others define it. Faith as you define it. Faith as faith defines itself in your heart.
Quote of your Day: “Without continual growth and progress, such words as improvement, achievement, and success have no meaning.”-Benjamin Franklin