I hope you enjoy some amazing lessons while you are here. This is a place where we can stay up to date with the incredible principles that produce results!
I hope you enjoy the blog.
~ Brandon Broadwater
I hope you enjoy some amazing lessons while you are here. This is a place where we can stay up to date with the incredible principles that produce results!
I hope you enjoy the blog.
~ Brandon Broadwater
Have you ever found yourself in a moment of self-reflection thinking about your contribution to the world? No? OK, me neither.
But in all seriousness, I strongly believe that we are all endowed with a gift to give to this world and it is up to us to find, understand, develop, and deliver what that gift is. In order to execute on that gift it is crucial that one learns how to Master Your Power Within.
There is a realization that you and I must come to. It is one that will likely require us to visit the altar of sacrifice a time or two and perhaps even make some hefty deposits of sub par self attributes while at that altar.
If we fail to make this realization, we will find ourselves falling short of what we could be, we will not live up to our potential. In fact we may sound like those that Henry David Thoreau described in the enduring book entitled Walden , “Millions are awake enough for physical labor; but only one in a million is awake enough for effective intellectual exertion, only one in a hundred millions to a poetic or divine life. To be awake is to be alive.”
I hope to “Awake” you, at least in this matter, to illustrate What You Owe To The World. When I attended Brandon Broadwater’s 3 Day Event, “Master Your Power Within” I found out how to fully live up to my potential, and give my gift to the world.
If you are in a production based role such as sales, or entrepreneurship. Perhaps you may be a salaried employee, you will find that fulfilling this obligation I speak of will not only enrich the world, but it will enrich your career, relationships, financial standing, and mission in life.
You see, I used to set goals based off of income targets I wanted to hit, or number of products sold, or to win a competition. During that process I certainly attained skills of influence as it relates to sales, and customer interaction. That lead me to achieve a level of success, however I felt bereft of purpose and meaning. I would achieve my goals only to find myself at the mountaintop of success thinking, “Is this all there is?” Or, I would be feeling what Tony Robbins describes as “the ultimate failure.” When he says, “success without fulfillment is the ultimate failure.”
Perhaps your journey may take you to where our paths meet. Maybe it will be on a Personal Results Coaching Session, or maybe at a live event where you can find what it takes to create that fulfillment and come to the realization we have been speaking about here.
I found that if I give my gift to the world just to make a paycheck, achieve a status, or hit a production quota; my production, contribution, or business will forever remain small and incomplete. If I can’t find a way to deliver that gift to the world, my spiritual, mental, emotional, relationship, and business aspects of my life will be forever stunted in their growth potential. However, if you and I realize this one thing, it can change it all. This one thing can truly be the game changer that sets us free.
You and I must give our gift to the world because that is who we are deep down inside. It is who we were meant to be. It is what we were placed on this planet to do, at this specific time. For it is the unconquerable spirit inside us that gives us the understanding, the courage, and the divine attributes that elevate us to the “Poetic or divine life” that Thoreau spoke of.
I don’t know of a single person on the face of this planet who, when they were a child or at another time in their life, did not have some sort of great aspiration to be a develop into a person who was living and breathing their passion. Perhaps in our youthful endeavors we identified the firefighters, dancers, astronauts, princesses, policemen, or professional athletes as the role we may one day want to play. However, most of us do not grow up to be in one of those lines of work, as noble as they may be. Instead, as we grow older we find ourselves focusing on the benefits package of our chosen profession, we may focus on the internal politics of getting promoted, or seek the status of being a business owner or entrepreneur. But what we fail to see, feel, hear, and know is that aspiration we once sought for so strongly.
It starts by doing and achieving our goals because that is who we are meant to be. You become the top sales rep in your organization because that is who you are. You become the best employee because that is what you are meant to do. You become an entrepreneur to create lasting impact on your business community.
As Thorough said, “It is far more glorious to carve and paint the very atmosphere and medium through which we look . . . To affect the quality of the day, that is the highest of arts. Every man is tasked to make his life, even in its details, worthy of the contemplation of his most elevated and critical hour.”
When you Master Your Power Within, I can tell you what is going to happen. I can promise you in fact, that you will find that you achieve your goals almost effortlessly. The stress that you felt before will melt away. You will find an inner congruence and alignment that was lacking previously. You will start to see the roadblocks in your life turn into mere speed bumps. You will see the burdens you had to carry as either needless items to be shed on your journey, as a necessary and a refining load to strengthen your inner being. You will see that your future is as bright as your faith. For you will have begun the path to Master Your Power Within. For this is what you owe the world and yourself indeed.
If you have been in commissioned sales or entrepreneurship for more than a couple of months, you likely have enjoyed the fruits of your labors, but there has been this little nagging problem you have faced. It is something that over time can eat away at you. I know that I have felt the tug of this issue at multiple times throughout my sales and entrepreneurial career.
“Hero to Zero” is what one of my managers used to call that feeling. You may have had a great month or quarter, but you now have to turn around and do it again to be able to bring home those commission checks you have come to enjoy.
You may not feel the drag of this feeling for the first few months or maybe the first few years of sales and entrepreneurship, but trust me, eventually you want to focus what you do best instead of chasing down that next prospect so you can bring home a paycheck. You want to increase your staying power like we talked about in our article “9 Things the Poor and Middle Class get Wrong about Money.”
What’s the solution?
Residuals, those elusive sly vixens that we have heard of. We probably all know that one guy or gal who has built up a solid book of business or portfolio that pays them month in and month out regardless of whether they chase down that one extra prospect.
You may be thinking, “Yeah, yeah, this is all well and good. I have wanted to get my hands on some residuals. If I knew how I would have done it by now.” Well, my friend, today is your lucky day!
These are the 4 ways you can get some of that residual income hitting your bank account month in and month out.
There is a company who sells and installs high-end pottery and plants in residential and commercial settings. Initially, they thought that their installs were the most profitable part of their business. However, after a financial analysis, they found that the most profitable part of their business was the weekly maintenance packages they sold their clients to come in and maintain the flower and plants they installed. This routine service they provided their clients led to more installs, but also a stable base from which they could work with. They were not forced to go through the feast and famine cycle just to keep the lights on and the business going every month.
Similarly, I know of an accountant who rather than selling his clients a couple hundred or couple thousand-dollar service at tax time, he turned that into a monthly subscription service. By doing so this takes the bite out of the once per year bill and provides him with year-round income.
Seems like kind of a no-brainer, right? Well, you would be surprised at how many people I have talked to who sell big-ticket items like cars or real estate, who have told me they wish they had residual income. If residuals are not part of your business model, and it is something that you really want, then it might be time to switch businesses.
Insurance and financial services are industries that oftentimes have residual opportunities. Many multi-level marketing organizations have excellent residual opportunities. The actual opportunity itself is not as important as the opportunity aligning to the 4 Keys of Business.
This is actually one of the oldest forms of residual income methods. Using lifetime income annuities can be dated back to Julius Caesar and the “retirement plans” for Roman citizens and soldiers. There are some “financial guru’s” out there who disparage the use of annuities, however, it is pretty tough to argue with a financial vehicle that has withstood the test of 2000+ years. Also, these same “financial guru’s” who preach anti-annuity doctrine also tell you to put your money into a mythical mutual fund that will consistently get your 12% returns, year in and year out. If you have attended our ultimate wealth course, you probably know that mutual funds are one of the biggest scams and rip-offs perpetrated on the average investor. These supposed gurus are probably oftentimes veiled, highly-paid, spokespeople for wall street mutual fund firms, so take their “advice” with a grain of salt.
Real Estate is far and above one of, if not the most dynamic and lucrative residual cash machines out there. There are 5+ ways to get a return in real estate, each one being advantageous and having the ability to be optimized and increased. However, real estate should come with a warning label. That warning label might read that a person could lose big in real estate, especially if you don’t have proximity to someone like Brandon Broadwater who has not only created his own multi-million dollar real estate portfolio but has also helped others do the same. You need to have a level of caution when entering the waters of real estate. However, the good news is that with the right training you can get into real estate very easily and with little, or no money, and it is one of the most lucrative residual income opportunities.
Now, let me make something clear, I am not making a case against commission only sales or entrepreneurial endeavors. I am simply stating that it would be wise to bring in an additional stream of income. That way those commission checks you are earning can simply be the cherry on top of your Money Making Machine.
So who is in? Tell us in the comments how you have created residual income, or how you plan to create residual income.
It was the beginning of the month, I had exceeded sales expectations for the previous month, there was the temptation to let a few days of ease flow by. You know the kind? Feet thrown up on the desk pretending to be getting stuff done?
Nevertheless, I picked up the phone, dialed the number for a customer that I had worked with a few days before, let it get half way through a ring, then quickly hung up the phone. The thoughts came to my mind, “They are not a serious prospect, I don’t want to pester them. They probably are not really in the market for my product, they seemed more like tire kickers to me. I certainly don’t want to be ‘that’ overbearing sales guy.”
I share this story, not because it is unique, but because it is all too common. For some it may only happen on occasion, for others it may be quite frequent. If this has happened to you, like it has to me, chances are that the true motivation behind me not making that follow up sales call was not actually for any of those aforementioned reasons. It could be a variety of well-intentioned excuses, but what it truly boils down to is something of a little bit different nature than being polite.
I see it in myself again and again. You may see and feel it too. Perhaps it is not sales or business related, maybe it is asking for a date, possibly it is when you ask for help, or maybe when you are making a serious life change. Really, that fear and reluctance can strike at anytime, but especially when you are about to do something that could change your life, or, at least, push you in the right direction. I think the real fear behind this is twofold; fear of rejection and fear of the unknown.
Leslie Becker Ph.D. in her “Psychology Today” article entitled, “Love and the Fear of Loss” tells us this.
“Sometimes people are overcome – even paralyzed – by the feared or expected pain associated with . . . loss. So they try to protect against their pain. They might try to hold tight to the moment, such as by taking a picture. Or, by making sure that a relationship stays positive, avoiding conflict at all costs. Unfortunately, these efforts break the living connection, making the object of their love more of a possession. People may tend to the object; looking at their photograph — or doing everything “right” for their partner – but they are no longer fully open and connected. Inevitably, the love dies. Sometimes people defend against the feared or expected pain from loss by staying emotionally distant from people. They might even keep their lives small and controllable. But this leaves them feeling cut off from an important part of themselves that is curious, wants to explore and grow, or even has a hidden passion. As a result, they remain stifled and feel empty or dead inside. If you realize that you are protecting yourself from the pain of loss, you have a decision to make. You can let that moment of realization slip by and continue to live a defended life. Or, you can take action toward breaking loose.”
Now she is obviously speaking in the context of love and relationships. Yet I’m sure you will find, as I have, a correlation to that description of reluctance and fear in just about any aspect of our lives. Also, our romantic and most intimate relationships can be studied to find metaphors for other facets of our life.
But here is the thing, that same fear you and I may have of the unknown or fear of rejection can become the very energy and enthusiasm that excites you for the future with just paradigm shift.
That cold call, or that date, or that meeting with your boss; that may very well be the best thing that ever happens to you. Perhaps that cold call will turn into the best sale of your life. Perhaps that date may be where you meet the person that you want to spend the rest of your life with. That meeting with your boss may be when you finally get that promotion. Think about it!
We may find ourselves at an edge. We may see stepping of that edge as a terrible leap of faith. It may cause us to be scared to death. It may be something we at first shrink and try to pull away from. When in reality we should learn to Master our Power Within and courageously breakthrough that edge. For what often matters is how we approach that edge oftentimes more so than actually going through the edge at times.
I once sat in a conference once and listened to Mark Hoog. He has a few simple precepts that he lives by. More often than not, if there is something that will rock the boat and disrupt the patterns we have been running in our life, we find reasons why we can’t do that thing, why we shouldn’t do it, and why we wouldn’t. This is what Mark does differently, he focuses on why he could, why he should, and why he would.
When presented with an opportunity we almost instinctively start coming up with reasons why we cant do it. We start subconsciously (or perhaps consciously) start reasoning as to why we should not do it, or why we wouldn’t want to.
What if, when we are presented with an opportunity to buy something meaningful that will improve our life, we instead started our internal dialog by asking ourselves why we could, why we should, and why we would? What if rather than just dipping our toes in the water we jumped right in? What if we focused on how this next day, decision, prospect, or date may be the best we have ever had?
Before we begin, you need to know there are two ways of approaching life:
We need all the help we can get, and I wouldn’t be in the place I’m at today making millions of dollars unless somebody showed me how.
I’ve been doing this for 10 years and have spoken internationally for a long time. Thousands of people have learned these things and I’ve seen them get results. All I got to say is… if they can do it, you can do it.
I’ve known car salesman that didn’t know what to do next to get out of that system to go to a 6-figure income. And they did it in less time than they thought possible.
Can you do it? Of course you can, with the 4 Keys of Business.
The 4 Keys of Business are the most fundamental piece to making sure that you have success in any endeavor. This can apply to real estate. It can apply to a multi-level marketing company or network marking company. And it can apply to a business such as a small business or startup. It can even apply to a major corporation.
Predictability is the 1st Key of Business. Ask yourself “is it predictable?”
For example, one of my first businesses was a window cleaning business. I had over 30 employees and I asked myself, “Is this predictable?” It’s summertime but cleaning windows in a city where it snows in the winter isn’t predictable. It’s predictable that you won’t make money. But can you predictably make money consistently day in and day out? The answer to that business was “no” because it was seasonal. Unless I could make a year’s worth of income in 3 or 4 months in the summer then it wasn’t worth it. I needed consistent income year round.
Guess what happened?
Well, I ended up selling that business and asked the person who was buying it, “What are you going to do in the winter time?”
He said, “Your clients who pay $2-300 to get their windows cleaned are the clients who have houses that are too big to reach windows. They’re also too high to hang Christmas lights, so for the same price as windows we’ll do their Christmas lights and now we’ve got a year-round business.”
I sold the business because I couldn’t figure out how to get predictability up to an 8, 9 or 10 on the scale… but they could. I’ve taught about how you are the number one asset. Your mindset is the number one asset. When we say ‘is it predictable’ we need to use creativity to see if it’s only a 5, for example, how can I get it to an 8? How can I get it to a 9? Or even to a 10?
As we measure up our business endeavors to this 1st key of business, “predictability”, we can see the end from the beginning. We can predict and know if this company’s going to make money. That’s a critical question to ask. Take a network marketing company for example. Say you’re selling your favorite vitamins. Is it predictable?
It’s going to be a level 10 if you have leadership skills, motivation skills to help manage a team and can motivate other people to help you do it. If you don’t have those skills then your predictability’s going to be a lot lower. It has nothing to do with the vitamins.
Let’s take real estate, for example. It’s one of the most common assets that the rich and the abundant have to make money. How does real estate measure up? Is it predictable?
If you get a tenant that has good credit the chances of them paying rent are sky high. If you have the system of a credit and criminal check before you move a person into a property then the predictability goes from maybe a 3 or 4… to a 9 or 10!
Your middle-class friends will try to talk you out of making investment decisions they don’t understand. They’ll say, “You don’t want to fix toilets in the middle of the night.” (By the way, I’ve never had to go fix a broken toilet because of how I manage properties.) That’s a middle-class story of what they think the rich and the abundant are doing.
I’ve made millions of dollars and invested in millions of dollars of real estate and made millions in business. Real estate measures up to a high level of predictability on the 4 Keys of Business.
Have you ever struggled to set the price for your product or service?
Have you ever given a discount because the person was a family member, friend, or a “good person?” There have been times when I have struggled with this BIG TIME. And since you’re here, you’ve struggled here too.
If you find yourself in the middle of this dilemma… you’re in good company. Some of the world’s greatest men and women have been here too.
AND… there’s one Higher Law (or principle) that brings clarity to the situation and help you find the solution.
You will struggle to get by in life until you figure out this principle and get your priorities in order. You may make a living, barely getting by, but you will not find abundance in financial matters. In short… you will live a life of financial mediocrity. Or worse…
However, if you want to crack the code of abundance and start thriving financially, let’s ask the question:
Can I share with you the lessons that have cost me $30,000+ and over 2,000 wasted hours?
I have learned this lesson on many occasions, through several teachers that profit is indeed an essential part of any business equation, BUT it’s not the end-all-be-all to a transaction or business plan.
I’ve damaged many relationships by pushing for profit in the past. Other times I focused so little on profit that I couldn’t make ends meet.
I wasn’t worried about profitability because somehow, someway it was all going to “work out.” I have learned the hard way that is not how the laws of business operate.
One limiting belief we must eliminate is that it’s wrong to make a profit.
If we don’t charge a person for our services, that person will not value that product or service. It’s that simple.
I look at times when I have made huge financial commitments of $10k or even 6+ Figures. Those investments came with a significant price tag that caused me to take my commitments to those products seriously.
On the other hand, there are some sales training programs that I spent $100 on and haven’t even looked at. It’s like buying books and just leaving them on the shelf, unread.
If you give away your services for free or for “mates rates,” it will not serve your clients because they did not pay a significant price to take you or your product seriously. If a client is not charged enough they will not implement your advice, appreciate your services, or respect your products. We do them a disservice by charging them less because they aren’t as committed as they could be.
The esteemed sales trainer and motivational speaker Zig Ziglar said this regarding sales processes:
“The sales process is something we do for the prospect and not to the prospect . . . If you are truly professional you will seek every legitimate means for persuading the prospect to take action for his or her benefit.” Secrets of closing the sale Page 31
Your clients will benefit by being committed to taking action if they pay a substantial fee or commission.
If you are not certain of the value that you provide, then it is pointless to charge a significant fee or commission. Because everything within your being will indicate to your client that you are not certain and confident in your ability to charge that fee.
If you are having difficulty in consistently finding that certainty and level of confidence I would recommend reaching out to one of our master coaches and book a Results Coaching Session, or attend a live event.
I have given products and services away for free, I have given up commissions for a person and they (customers and clients) did nothing with it, so it did not benefit them. So it is in their best interest as well as yours to pay you well.
The money your clients pay you in fees and commissions is secondary to the results and certainty that you deliver through your products and services.
Cheering you on,
In the world today we don’t talk much about altars. Perhaps only talking about a wedding ceremony being performed. However, there was a time where altars played a significant role in someone’s day to day life. Now, I am not going to get into a discourse on Mosaic law, nor of sacrificing the firstlings of the flock.
But when we do make these visit’s as often as needed and sacrifice what we ought to, we will find our life moving forward in ways that are even greater than we could have ever imagined.
“The Altar of Sacrifice”
So, you may be wondering what in the world I am talking about. That’s ok, hang with me. You will see that visiting this altar will become something you look forward to even if your first few visits are less than pleasant.
Chances are if you are reading this post, I know some things about you. So I am going to talk about you for a moment? Cool? (Disclaimer: If I am wrong about you, please tell me nicely that I should discontinue my career as a fortune teller, ok?)
If you are reading this post my guess is that you are a person who has lofty goals and ambitions. The kind of person who has a drive and desire for greatness in many aspects of their life. You have likely achieved a high level of skill or mastery in certain aspects of your life, however, you are not seeing the level of success or fulfillment that you would like. There is probably have an area or two of your life that you have put some serious effort into, but you keep coming away from that area confused as to why you feel like you are spinning your wheels.
Well, we are not going to talk about getting unstuck, we covered that in this series of posts, check them out here.
I have found that we as human beings don’t like to sacrifice. If left to our own devices and preferences we would much rather live a comfortable life devoid of any sacrifice. However, we end up sacrificing things all the time. Literally every day. The problem? We sacrifice the wrong things.
Oftentimes we sacrifice what should be our long-term primary priorities for short-term secondary activities.
What we should be doing is sacrificing our secondary activities and sub-par character traits.
If only there was a dealership for these type of things. Imagine walking in with an unfulfilled life and character and walk away with a brand new shiny excellent character. (Well, there kind of is. Check out one of our live events.)
I can think of times where I had to sacrifice what I thought my skills were as a salesman. I had to sacrifice what talents I thought I had. What I mean is I remember stepping into a new sales role thinking that I was going to be a rock star without really having to change much. I thought I was good enough. I thought I didn’t need to learn the program, I had it all made, after all, I was the top producer at my last gig, what could go wrong?
So . . . What ended up happening was that the universe gave me a big ol’ piece of humble pie. The Universe “gave me a spankin'” as Brandon Broadwater would say. I had to give up my pride and what I thought I knew in order to become better and excel at my new position. I had to become more connected to my family, I had to strengthen my faith, I had to work and pray for my communication to be effective and persuasive.
Imagine with me for a second a life without fear. A life without doubt. A life without negativity. Imagine, living a life full of excitement and love for who you are and what you do. Imagine with me for a second a life where you do not have to worry about money. A life of significance and contribution. A life of continual progression, self-realization, and joy.
I can tell you that it is possible to live that kind of life. In fact, that is the very kind of life we create here at Master Your Power Within. That is the very kind of thing we learn about and teach at our Seminars. That is what our Master Coaches do on our Results Coaching Sessions.
If we want to live that life of excitement, love, and financial freedom, then why don’t we start sacrificing the right things? Ask ourselves, is this something a top performer would do? Is this something that a healthy person would eat? Is this something a financial wise person would do?
Then book a Results Coaching Session or come to an event. Come join us to see what living an abundant life is like. Come join us to find out the Higher Laws and principles that will take you to the next level.
There is something that every great public speaker, every great sales professional, and every great teacher has learned. Some of them have consciously, and purposefully learned it, and others may have just picked it up without knowing consciously what it is.
Around here at Master Your Power Within, we are not into just rolling the dice to see how things work out. We have learned that it is much better to consciously learn and implement strategies for personal development and business improvement.
There are hordes of mediocre public speakers, mediocre sales professionals, and mediocre teachers. The problem is that these people may be incredibly intelligent people. They likely are highly knowledgeable and may even know more than the great people I talked about before.
If you were incredible at making pizza, but when it would get delivered to a customer it ended up looking like this . . .
You likely wouldn’t have repeat customers.
So it is with the information that we convey. Whether that is in a sales conversation, getting a date, or educating about a complex topic. We must know how to hold our listener’s attention in such a way that they are eager and hungry to know what we are going to say.
The challenge with this delivery comes oftentimes in terms of us striking the right balance. Once we learn about this simple strategy it can be relatively easy to make a person hungry for our information, but we can run the risk of dragging it out too long until they are starving. Or we may do the polar opposite and try to feed those who are already full.
No, we are not talking about a “groundbreaking solution in construction to frame walls on-site 10x faster and more precisely.” Like a quick google search may lead you to believe.
Whether you want to admit it or not, you begin every conversation with some sort of conscious or unconscious objective in mind. Whether that is to close a sale, get a date, or just get directions to that new pizza place.
*****When we talk about influence I feel it is important to discuss and qualify the term “Influence.” We are definitely not talking about brainwashing, subliminal programming, or manipulative devices. What is going unsaid here is that all of us here at Master Your Power Within assume that skills of influence are going to be used for good. Some of the ways Brandon Broadwater uses influence skills is to serve, Brandon will use influence skills to keep audiences engaged in learning material that can change their life, or he will use influence skills to help others to break unhealthy habits that some people have carried with them for decades, or influence others to make a life altering change. As with most powerful tools, influence can be used for good or ill, let’s make sure you are using it to serve the world in positive ways. Deal? ;)*****
Just the other day my 4-year old little girl came to me with some killer pre-frames.
Her: “Hey Dad!” (Pre-Frame #1)
Me: “What sweetheart?”
Her: “Since I have been soooo good today, and since I have folded the towels, and been nice to my sister, can I watch a show?” (Pre-Frame #2)
Me: “How can I say no to that.”
Her: “Thanks Dad!”
That is a rather simple set of Pre-Frames, albeit cute, but simple. Let’s talk about a few more examples and then we can dive into specific strategies you can use to start “Pre-Framing.”
If I were to introduce a lecturer to you by saying, “Today we are going to hear from John Doe who got his PhD in Theoretical Physics. I was in his graduating a class, and I have it on good authority that he plagiarized his thesis from Einstein’s work.” How are you going to feel about ol’ John Doe?
“Today we are going to hear from John Doe who got his PhD in Theoretical Physics. I was in his graduating class and I thought that his thesis was akin to Einstein’s work. In fact, I would say it bears many similarities.”
[Step 1] “There is something that if you don’t have in your life, you are going to experience a great deal of pain. Maybe not at first, but over time you will feel it take an increasing toll on your body and mind. You will start to feel a level of discomfort, and you will likely end up not getting very far.
[Step 2] On the other hand if you have this one thing, you will find yourself able to climb mountains and walk the streets with a level of confidence that you likely wouldn’t have otherwise. You will be able to avoid the pain and medical issues that others may have without this. Your body will be in better alignment. You will be able to make a fashion statement if you so desire, and you can take your pick of a great variety of different options.
[Step 3] And it is just one thing . . .
(Pause for dramatic effect)
[Step 4] A Pair of Shoes”
Now that I have brought this up you will likely start to notice Pre-Frames everywhere. Those who are skilled at influence use them frequently.
*A word of caution*
It is easy to get carried away with Pre-Frames. I have been to trainings that were just one big Pre-Frame for an upsold product or course. The actual “training” I attended did not teach me anything, or give value, it was just Pre-Framing for the next course. Don’t do that.
***In case you have not yet read our article on The Poor, The Middle Class, The Rich, and The Abundant, take a quick look at our previous article entitled, “Why The Poor and Middle Class struggle.” Reading that article will help set the context, and lay the groundwork for what we are jumping into today. If you don’t take the time to read it, you run the risk of fundamentally misunderstanding this whole article. Just know that when we reference the Poor, Middle Class, Rich, and Abundant, we are not simply talking about financial standing.***
In life in general, and especially with money matters we need to be aware of, and eventually fix what is wrong, if we hope for things to go right.
If we are about to endeavor on a journey, we would be wise to prepare ourselves against the elements, the threats, and pitfalls we may face along the way.
Perhaps you are in the thick of adversity and pain in your life right now, and this article will come as a boon to you and your situation.
Or perhaps life is pretty darn good right now, and you are feeling a little like this. If that is the case, you may be wise to take some advice from the Former President of The United States, John F. Kennedy who said, “The time to repair the roof is when the sun is shining.”
There has been much debate as to what it is that makes a difference in the socioeconomic standing between “the have’s and the have not’s.” Most of this commentary almost inevitably ends up in finger-pointing political debates which is typically less than productive and does not move anyone forward in productive ways.
This article will do just that, help you and me move forward in productive ways. It will also pull back the curtain on some of the critical elements that create and build wealth. The paradox is that many of these points discussed may at first glace seem common sense, we may even have an intellectual understanding of these points. However, the challenge in life and in money is to bridge the gap between what we may intellectually know and what we actually do and implement. Oftentimes there is a great distance between what we know and what we do. An honest and critical evaluation of self will bring to light newfound insights and execution steps.
The Rich and the Abundant make different choices than The Poor and Middle Class. I think we all know, but tend to forget that the decisions that we make, even the seemingly small and insignificant ones, will determine the quality and direction of our lives. We would be wise to start, if we have not already, to identify what choices we are making now that are not taking us in the directions we want to go. Then we ought to equally identify those choices we can make that will take us where we ultimately want to end up. Read on for more details about these choices . . .
The Poor and the Middle Class do not see, or believe, that the stepping stone to their future is right here, in front of them. It is found in the present. They fail to see that they can do something now. Far too many people have turned down building a business, or investing in real estate because it would only create “ONLY” a few hundred dollars of monthly residual income. If a person were to take action and increase their residual income by just a few hundred dollars a month, a few years down the road that person could quit their day job if they wanted to, get out of debt, go on that trip they have always wanted, or a host of other life-fulfilling activities. The Poor and Middle Class underestimate the power that little steps can end up creating big results.
When The Poor and the Middle class come across “The Deal of the Decade,” they back down. They give in or give up. Why? because they have not invested in themselves to be able to trust their decisions. They get so mentally tired from making poor choices again and again that it becomes a self-fulfilling prophecy, they cannot seem to make a good decision. What we all need to understand is that courage is not an attribute that we are born with, but a skill that is learned.
I am not merely speaking about High School or a University Education. I know tons of people who went through the higher educations programs only to never pick up another book for years or even their entire life! Sometimes the Poor and Middle Class are closed off to learning in new ways. One thing that I have found out is that you can either spend some money to learn and be trained by a mentor OR you can miss out on, and even lose money, by just trying to figure it out on your own. Or as Brandon Broadwater puts it, a person can, “Spend your money learning, or lose your money learning, either way you’re going to learn.” Worse yet, most of the time when trying to figure it out on your own most people will have inconsistent, hit or miss, results. The middle class, and certainly the poor do not put in the time to learn about money. Rather they spend most of their time working for it.
Far too many middle-class investors only play offense in their investments. They focus solely on asset and materialistic accumulation rather than focusing on critical aspects such as cash flow. They risk losing all of their “nest egg” to the poker players on wall street, they do nothing to invest in assets that are insurable. Instead of creating income producing assets, they tie their money up in mutual funds and 401k’s. To paraphrase a Warren Buffett quote, “Middle Class investing is like waiting for sex until you are 50.” Meaning that if you are waiting until that magic day when you have “enough” money saved up is going to have you always chasing a horizon, one that you can never reach. I know plenty of retirees who, even after accumulating a significant sum have trouble spending that money because they want to leave it to their kids. Or they postpone and tie their money up for years when they could be diverting that money into things like a self-directed IRA to buy real estate, or starting a business that can not only be “your retirement” but also provide income while you are enjoying your working years.
By contrast, let’s talk a little bit about how the poor handle their “investing.” The Poor end up taking the approach of hoarding money so they can spend it on consumer items. They live in a mindset of scarcity vs one of abundance. It is safe to say, that most investors who have a Poor mindset do not save or invest in their future because they are too worried that they may lose what they now have. They will not let go in order to gain.
An example of an insurable asset would be real estate. If the real estate burns down, they have insurance for that.
Asymmetric risk vs. reward means that a person could be wrong, or lose 4 out of 5 times, and still get their money back or come out ahead. Most poor and middle-class investors take literally 100% of the risk in their wall street investing in hopes of a return. The Rich and the Abundant make sure that if their investment goes south they can recoup the vast majority, if not all, of the return.
To better understand the investing mindset of the Rich and the Abundant, we need to think and operate like a bank. For example, a bank takes your money in a CD and gives you 1% return, for 1-3 years. They assess a penalty to you if you pull your money out early. So they are locking you in for a set time period (Bank 1, You 0). They in turn loan that money out at 3%-12%+ (Bank 2, You 0). Then at the end of your term you walk away with a few extra bucks (You, finally, 1) and the bank has likely made 100%-1,000% on your money. End result (Bank 3+, You 1).
Let’s say that you have cash sitting around and an associate approaches you about using your money to buy land and start a car wash business. You could structure the deal so that not only will you make a healthy return of interest on your money as long as the business does well, but you could also be the sole owner of the land and buildings if the business goes south. That way if the business plan works, you get a healthy return. If it doesn’t you have a real, tangible asset you can sell to get your money back.
This is just a quick sample of how the rich and abundant think, and use their money for investing.
If you are investing in Real Estate, don’t fall in love with the paint color, or the appliances, fall in love with the numbers.
When everyone else is freaking out because of a market crash, the Rich and Abundant have learned how to mitigate risk and are excited because everything just went on sale. To learn more about that, do a quick search about Sir John Templeton, and see how he made his BILLIONS.
The Rich and the Abundant pay less, as a percentage, of tax. While the Poor and Middle Class pay, as a percentage, the highest amount of tax. Love him or hate him, take Donald Trump for example. His team of experts have used IRS tax codes to their advantage so that he has not paid federal income tax in years. The man is worth Billions and Billions of dollars and he has not paid Federal income tax in years. How? Because he and his team know the IRS tax codes to their advantage.
Through a business entity you get to change the order of how tax is paid. See the example below for illustration.
Love it or hate it, this is how IRS tax code (and tax code in many other countries) works. So you might as well make use of the gift that is a business entity. However, owning a business is not the only way to lower your taxes. Talk to a qualified Accountant or Attorney. Don’t endeavor to go the DIY approach on this one. I know far too many people who are stepping over dollars to pic up dimes. They don’t want to spend a few hundred dollars for professional advice and they miss out on thousands of potential tax savings.
Poor and Middle Class spend money they don’t have to make people think they are rich. The Rich and Abundant don’t always ride in flashy cars or wear expensive clothes because they don’t want people to know, or don’t care if others know that they are rich. So much of what we do comes down to status.
We may have the goal to be a millionaire so that we can finally spend quality time with our family. It is not really about the money it is about the emotion and the freedom to do what you want.
What if you could change your spending patterns and still achieve the same results?
The Abundant understand the psychology of money and spending patterns.
The Federal Reserve has stated that “52 percent of Americans would not be able to cover an emergency of $400.” Other sources have stated that 76% of Americans live paycheck to paycheck.
These are both examples of a lack of staying power.
So what does “Staying Power” mean?
Or as Brandon Broadwater has said, “The seeds of our actions need time to come to fruition.”
If you are starting a business you should probably shouldn’t quit your day job right away. If you are going to invest into the stock market, you should probably not invest your entire life saving and all of your available credit into the next hottest stock.
About the only thing that most financial gurus can agree upon is that it is wise to have an “Emergency Fund.” 3 months to 1 year of monthly living expenses saved up.
The Rich and Abundant do this by creating residual income, as well as multiple streams of income. That way if one of their streams of income dries up, they still have several others.
How do they do this? Most prevalently the Rich and Abundant own cash flowing real estate. They also own businesses, annuities, dividend paying stocks or bonds. All of these can produce a paycheck. Month in and month out, increasing their Staying Power.
This is by far the biggest mistake that is made. Now with social media, it is becoming easier and easier to gain proximity. I don’t think that people stay in Poor or Middle-Class mindsets because they want to. They don’t stay Poor or Middle Class financially because that is what they have always dreamed of. It is because the people they hang out with and associate with are likely Poor and Middle Class too. They just simply need to be “shown how” from someone who has already done it, from someone who already lives in the Rich or the Abundant quadrant.
It is much less prevalent today as it once was, but it used to be common practice to become an apprentice to learn a skilled trade such as carpentry, blacksmithing, etc. Apprenticeship is however, still alive and well today in the medical profession. A person does not become a doctor unless they have done their “residency.” A soon to be doctor does not do residency because they don’t know what they are doing. They have spent years and years in schooling to learn and understand their trade. There is are elements that cannot be taught in a textbook, they can only be learned from working closely with, and being an understudy to someone who is a master at what they do.
Now if you are going to become something other than a Doctor, or another skilled trade, you will likely have a difficult time finding a person who is willing and able to have you be their apprentice. It is near impossible to find a mentor who is not only masterful at their trade, but who has the ability to teach what they do. There are plenty of top producers out there, but it is rare to find one who can teach how they achieved their success. This challenge is only compounded when everyone who has attended a weekend seminar, or read a book is calling themselves a coach or a guru.
This is where Brandon Broadwater and Master Your Power Within comes in. Brandon and the Master Your Power Within team have handcrafted programs and courses that are calculated to help their students become masters in real estate, business and entrepreneurship, and master teaching.
Far from being an out of touch academic or philosophical lecturer, Brandon Broadwater mentors and teaches strictly on topics and trades with which he can be, and has been determined to be a masterful practitioner. He offers students of Master Your Power Within that proximity and mentorship that is critical to achieving success in the aforementioned areas in the most direct manner possible.
We will come to find that either we figure the money thing out and we get more freedom in our lives, OR money is going to drive us AND will dictate most of our decisions.
If you want to help others avoid these Poor and Middle-Class money mistakes, share this article with a friend or on your social media profiles.
The journey from surviving to thriving lies in the mindset. If we don’t figure out some clear distinctions about 4 critical mindsets laid out in the Prosperity Quadrant™, we will surely fall short of what we could be, and do, and accomplish. We will certainly find ourselves struggling more than we need to.
Chances are pretty good that you or someone close to you falls into some of the traps that we will cover in the article here today.
Below is a breakdown of The Prosperity Quadrant™. It is important to note that we are not solely talking about a person’s financial status, but even more so about their mindset and attitude.
Those who are in the poor quadrant may find themselves constantly struggling to be able to keep their relationships together. They likely base their life decisions on circumstantial situations, rather than rock solid principles. The poor find themselves lacking and wanting in just about every facet of their lives. Their money will always run away from them because of mindset and patterns of spending. Their lives are dominated by scarcity. They likely have not achieved any high level of success in their endeavors. They are imprisoned by their attitudes and oftentimes their financial and physical situation.
The Middle Class are those who have some aspects of their lives put together. For a financial example, a Middle-Class person is likely someone who has a strong steady job that has provided them with a decent income. However, they are likely spending beyond their means in order to impress others or to convince themselves of some sort of internal inadequacy or shortcoming. The middle class will do things to keep up with appearances, they are often driven by emotions and the views of others rather than working from a sound base of knowledge. The middle class may spend more on a home or a vehicle because of the way it looks, rather than what makes fiscal sense.
How can you know what someone’s priorities are? It is where they spend their time.
The Poor and Middle Class may say that money is not important. But they spend most of their time working for it. Their mentality is incongruent with their actions.
The Rich are those who have achieved a certain level of success or status. They have probably accumulated a great deal of wealth in a financial sense, or a particular level of wealth in some aspect of their lives. Perhaps someone may be rich in their relationship with their children, but it could be in detriment to the relationship with their partner or spouse. Perhaps someone may be rich in aspects of personal health and fitness, to the detriment of their ability to connect with and influence others. The rich have indeed conquered foes on the field of battle, however, they may fail to realize that they have not yet won the war.
The Abundant, are those who have breakthrough success. They are those who live a life of harmonious balance. Those who are Abundant get on the other side of leverage, with both their money and their time. A key misunderstanding about those who are Abundant is that they may devote an equal amount of time or resources to all important aspects of their lives at all times. This is not so. A harmonious melody often has crescendos, ebbs and flows, even times of silence. This is what living a life of Abundance is like. Not sacrificing the relationships for the cause of making money, however realizing that money is still a very important and healthy part of life.
Those who are Abundant typically have access and proximity to knowledge, which is foundational and rock solid. The Abundant live a life of principle and as such experience a great deal of joy. When faced with adversity or tragedy, the Abundant will be able to keep perspective as to what is most important, and they will “stay the course.” Living a life of Abundance is something we all ought to strive for. As Brandon Broadwater says, “The Rich may have all the things that money can buy, but the Abundant also have those things which money cannot buy.”
The Prosperity Quadrant™ can be a great measurement tool, in documenting our progression and success. It can help us identify where we are at in our transition to greatness and abundance. By understanding and utilizing the quadrants we can better identify errors in our thinking and attitude. Oftentimes if we catch those thinking or attitude errors soon enough, we can prevent them from manifesting in our daily lives.
As Brandon Broadwater mentioned on the video, Master Your Power Within® is a company that works with individuals to help them transition to a life of abundance. Master Your Power Within® has literally helped thousands of people change their life for the better.
Whether that means increasing your income, investing in Real Estate, improving the relationship with your family and loved ones, Fixing Your Health, or finding out spiritual matters and principles that will improve the quality of your life. Brandon Broadwater and Master Your Power Within® can help. So come join us at a live event, or on a Results Coaching Session.
See you soon!
Thank you for attending the Path to Prosperity™ workshop! As a thank you, please download this exclusive excerpt from Brandon Broadwater’s book, The Prosperity Pendulum.