Driving: $688.39[/columns] [columns width=”1/2″ last=”true”]
$216.99[/columns] [/box] If you’re wondering why my bank account is smaller than what I earned, it’s because I paid my condo dues for the month + other expenses. As an aside, I have no plans to reveal how I spend every single cent, but I’m sure you realize that I have very little wiggle room.
The $50,000 Breakdown
My goal is $50,000 in the bank. Of course, I will need to earn more for living and business expenses. After thinking about it, I figure $80,000 is a good number to shoot for. $50,000 in the bank. $30,000 for living and business expenses. Bueno.
Breaking down the $80,000 comes to $6,666.67 per month (Bible thumpers and the superstitious, please ignore all the sixes), which is about $222.22 per day. I’m not going to start off earning that much, because it may take awhile to lay the proper foundation, but my plan must compensate for that later on.
Am I Really Committed??
When I see that number, the $222.22 per day, everyday for a full year, I see a goal that demands consistency from me. It seems that the core essence of any goal contains the seed qualities that are required to meet it successfully.
Since the goal has at its very core “consistency”, then my effort must be consistent to match it. This doesn’t mean that my efforts are any “harder” or “easier”, it just means that they’re consistent.
And consistent means commitment. And that’s a critical point for me. I believe making my situation and goal public is indicative of my renewed commitment. Living within my own bubble was not getting it done.
The Probability Test
And there’s another factor at play here: belief. I have to believe I can accomplish my goal, so knowing this, I ran it through my “Probability Test”.
The Probability Test measures how certain I feel about accomplishing a specific goal, which also reveals the probability of a a specific event happening in my life.
As a side note, do you know where the origin of “probable” comes from? Take a look:[box type=”1″]ORIGIN late Middle English (in the sense ‘worthy of belief’): via Old French from Latin probabilis, from probare ‘to test, demonstrate.’[/box]
I thought that was interesting…
So here’s the Probability Test. Take your goal, or any statement or affirmation, and ask the following questions, using your statement or goal:
Do I hope I will have $50,000 in the bank from my efforts despite never having accomplished this before?
Do I believe….?
Do I know….?
The continuum looks like this, with the likelihood of events happening increasing as the feeling of certainty increases:
Hope (Possible) ----> Believe (Probable) ----> Know (Done Deal)
Doing this test requires an acute awareness AND naked honesty. Long story short, I felt strong in between BELIEVE and KNOW, and even though I felt something in HOPE, my feelings were stronger in the BELIEVE range, leaning toward KNOW. If my feeling was more in between HOPE and BELIEVE, then I’d probably adjust my goal a bit.
Of course, I do this in a matter of moments, so it’s not as drawn out as I lay it out here. It’s just a way to check in with my heart and make sure all systems are go.
So now that my goal is set, I chose to re-examine my strengths, knowledge, skills, and life experience.
Who Am I?
No need to go into this all here, we could be here forever, but let me touch on a few things. If you haven’t done any of the many personality assessment tests, the “why you do what you do” tests, or even an astrology reading, then you could be missing some pretty cool insights into YOU.
You don’t have to believe it all, just take it as an outside observation and consider it.
Anyway, without getting into my life experience, and how it colors everything I do, I thought I’d at least go over some of these tests and see if I could gain some additional insight.
Meyers-Briggs Personality Test: INFP[box type=”1″]INFPs are effective in occupations involving a lot of intellectual work that is focused on humanities and social science, spirit and soul, inspirational activities, and requiring creativity. Social workers, psychologists, life coaches, addiction rehab counselors, mental and community care staff, children education, teaching, and also creative script writing are just some of the examples of suitable occupations for INFPs. They also succeed at academia thanks to their intellectual strength.[/box]
You can take a free test here: www.humanmetrics.com/.
DISC Profile (See Image)
To learn more about the DISC Profile, you can go to www.discprofile.com/.
Measures “conation” or your Modus Operandi (See Image)
To learn more about Kolbe and their tests, you can go to www.kolbe.com.
My Strengths Finder 2.0 results
In order of strengths: Relator, Empathy, Learner, Connectedness, and Futuristic
To learn more about Strengths Finder 2.0, you can go to strengths.gallup.com.
Having looked at these test results again, I do see a pattern, one of which is, ironically, that I’m good at seeing PATTERNS. I know, circular. And I’ve always had this desire to do things differently (I’m telling you, it’s hard-wired in), which is also reflected in my DISC and KOLBE results.
I’ve allowed that characteristic to hinder me in many ways, but now I must turn it into a powerful ally. It also frees me to explore new possibilities. The only problem is, earning money is usually EASIER for people who stick to simplicity and WHAT’S BEEN DONE BEFORE. Creating new business models is usually not a good idea.
And a big thing for me is this LOVE for LEARNING, and seeing how everything connects in unique ways. Man, I could learn and connect ideas together all day, and do it for and with other people. I definitely believe this is a skill that I can monetize ASAP (probably because I’ve done it before #duh).
I also love to brainstorm, I could probably do that all day, too. But how to get paid from that??
Anyway, let’s move on to how I (or anyone else) can generate income.
How We Make Money
Let’s talk Cashflow Quadrant. According to Robert Kiyosaki, there are four ways to bring in the loot. Here are the four:[box type=”blank” class=”border-dashed2″]
Sidenote: The difference between an an entrepreneur and a self-employed person is that a business frees you because of systems, whereas the self-employed still do the bulk of the work.
Business earns money whether you’re there or not (most of the time), unlike the E or the S quadrants. And the I quadrant, or investor, is barely in the picture when it comes to “working”, but is compensated extremely well.
So, I’m already doing the E or employee thing. It’s not bringing in much, but I see that I must re-graduate (since I’ve done it before) up to the S or self-employed again. Doing the B is not as easy, although I’ve done B activities, such as designing websites, writing a book that is downloadable, etc.
So, my strategy here is obvious. Move from E to S immediately. Then work B into the mix for leverage. Without leverage, I will always have to show up to earn anything, which is going to slow me down significantly.
There’s another way to view this:
- Consulting/Coaching = 1 : 1
- Training/Teaching = 1 : MANY (Better leverage)
- Ultimate Leverage = Work really hard ONCE : Almost unlimited ROI
Now imagine them performing in concert. That’s 1 : MANY.
Now imagine them with CD’s, T-shirts, coffee mugs, etc. Now we’re talking ULTIMATE LEVERAGE.
From what I’ve written, it’s clear that I have to start my consulting/coaching biz ASAP. I can do it in a few areas, one being life coaching (doesn’t excite me as much as it used to) or digital marketing for small businesses (much better).
Life coaching is something I’m good at, but I would have to rebrand it somehow. I think once it went so mainstream and everybody became one, I lost interest. Just a personality quirk of mine, I suppose. But it is fun with the right clients, so this is something I can brainstorm and flesh out a bit more.
I already have a website up that I can easily add coaching services to at wakeupsmiling.com. In the meantime, I can continue to blog over there until I can figure out what to offer folks.
I’ve also written a book, Butt-Naked Abundance, but it’s not ready for primetime. As I explained to someone recently, the book’s concepts are raw, like cocoa leaves. Lots of potential to turn it into something powerful like cocaine. But I want it to be like crack when I re-release it, and I will need outside help to make that happen.
For the digital marketing services, I already started building a website for that at www.value-detectives.com (it’s still in progress, so don’t pay too much attention to the content).
It would be mainly business to business services (B2B). I can offer website design for small businesses, shooting video commercials for them, reworking their website message to boost conversions, improving their tracking and metrics, and figuring out an integrated strategy with them so their marketing efforts aren’t so disjointed.
The digital marketing biz is very appealing because of the potential effects from small efforts. If I can help a local entrepreneur solve a problem that generates a strong ROI, then that effect impacts more than the business owner. It affects their staff and employees, their vendors and suppliers, the community, and their families.
Those are my initial thoughts, but now I must act.
Next Steps[list type=”checklist”]
- Complete Value Detectives homepage by August 19th, 2012
- Complete reading The $100 Startup by Chris Guillebeau (There’s some great exercises in there)
- Brainstorm potential ideas and services to offer for Wake Up Smiling
This list will be updated week to week. Anyway, hope y’all had a wonderful week, and here’s to growth for all of us.
If you have ideas, I’d love to hear your thoughts, comments, and feedback.