Build A 6-Figure Business

Earn good money doing what you love and still have time to play!

Think Like A Kid To Get Wealthy

Children as a group are possibly the best salespeople in the world.

When a child decides she wants something she will try to get it at any cost and only give up when she realizes there isn’t a chance in hell of getting the wanted item. This is why they are so successful in their pursuits. It has nothing to do with mother nature making them oh-so cute and impossible to say no to.

I love watching kids, especially when I’m in a store to see how they go about getting what they want. Here’s what makes them so effective:

LACK OF FEAR

Children aren’t generally afraid to ask. They hear the word ‘no’ all the time but when they want something else they will ask. They’re willing to risk hearing ‘no’ because there is a chance that you might say ‘yes’.

QUICK RECOVERY FROM REJECTION

A kid can hear a very firm ‘no’, have a cry over it and yet five minutes later they are asking for something else, possibly even the same thing that was denied only five minutes before. When they come to ask for it again they usually have a new strategy.

Lots of adults get overly deflated by rejection; they wallow in it for way too long before sliding on to the next thing.

POSITIVITY

If your kid sees something she likes on TV she’ll ask for it even if the economy is going down the toilet. She doesn’t know about the economic situation and quite frankly, doesn’t care. She wants what she wants and she’ll fight for it.

I’m always saying this but I’ll say it again. News, ALL news, is designed to keep us scared, negative and constantly in fear. You don’t have to watch a news channel for 5 minutes before the next bit of negative news comes on: someone died, or a plane crashed, or war has broken out in [name country] or there’s a new natural disaster somewhere in the world.

It’s depressing and it has a long-term impact on your behaviour. For instance, when the recession started there was no end of bad financial news. It stopped many of us from taking risks such as starting a business.

The collective psyche of people tells them to save more and spend less. Spend more and save less has only one outcome: the economy contracts even further, people lose their jobs and you have a never-ending cycle of contraction.

For those that don’t immerse themselves in bad news, reject it and instead adapt their behaviour to make profit in a different way, the outcomes are different: in If You’re Not First You’re Last by Grant Cardone he says that when the economy is going down he ups his marketing spend and begins to take even more massive action because people’s default response is now ‘no’. You have to work harder to convince them to buy.

FOCUS ON THE GOAL

In that moment when a kid decides she wants something that becomes her sole focus. She will try one strategy after another to get that thing until she gets it. She doesn’t get distracted.

STRATEGY REFINEMENT

Kids learn early what works. For some parents / aunts / uncles crying and whining work so that’s what they will do. For me, if you cry or whine I feel nothing. I hate criers and whiners. It makes me not want to give them what they want even more. I was raised like that. My dad would send you outside if you started crying and I’m glad he did because I learnt how to justify my wants instead.

For kids that learn to argue their case and justify, the world is their oyster – most adults are amused by the stories kids can come up with to ensure they get what they want.

I was once out visiting my brother in Indiana and my 3-year old nephew decided he needed money. His dad said he didn’t have any and he immediately said, “But Ant [that’s how they say Aunt in ‘Merica] Heather has money!” We all laughed. He didn’t talk much at that age but he was obviously watching things closely.

CLOSING THE DEAL

When does a kid stop? When she’s tried everything and decided nothing is going to work this time around.

If we could keep a fraction of these sales skills into adulthood we would all be a lot more successful. Unfortunately though, before we reach the teen years we become socialized to behave ‘normal’ – we’re more fearful, we’re broken by rejection and we give up all too quickly.

If you can dig out your inner child, you’ll sell way better and enjoy an overall more wealthy life.

A Scarcity Mindset Keeps You Poor. This Is How It Works…

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One of the best things I did in 2014 was to invest in my personal development by taking part in Entrevo’s KPI Coaching Program: a 40 week program aimed at entrepreneurs looking to become a Key Person of Influence (KPI) in their field. The final module, Partnership, taught by Julia Langkraehr had a lot of thought triggering sentiments. There were many things I loved about the session but in the top 3 were the things she said about having an abundance mindset.

In order to succeed in life you have to partner with people; it’s the only way if you want to succeed in a big way.

The reason many don’t partner up with others is that they are fearful of sharing and falsely believe that by sharing there will be less for them. This zero-sum-game philosophy can be eliminated in many ways:

  • Develop an abundance mindset – a mindset that acknowledges that there’s more than enough for you and everyone else
  • Instead of wanting a piece of the pie for yourself think about how you can grow the pie so that there is more for you and your partners
  • Start seeing everyone as a potential partner

In order to rise, lots of people think they need to push others down. This is not just down to individuals but also big corporates and politicians. Instead of just highlighting their pros against the competition some take it a step too far and use underhand tactics to sabotage the competition – that’s a scarcity mindset in action.

Of course, in this case it could make sense, there’s only one spot for prime minister or president.

Anyhow, this discussion got me thinking about my high school days back in Malawi. I distinctly remember having the belief that I was only a great student if I had all the same resources as everyone else and still did better. Due to this point of view I made it a point to help anyone with their work, if they asked.

Unfortunately, I was also acutely aware that some of my peers hated the fact that I did so well and were not beyond sabotaging me.

I was in boarding school so to protect myself I used to keep my folders in my locker instead of my food and clothes! The only thing that was worth protecting in my opinion was my school notes; everything else was replaceable – no one wants to get to exam week and find that their notes have been stolen.

Teenagers don’t realize that when they say cruel things to each other those things are remembered for a lifetime.

The night before my final Further Maths A-level exam I recall lamenting in trepidation to one of my fellow A-level students; she slept in the room next to mine. I was the only Further Maths student. The class had started off with three people but the other two had dropped out because they thought it was too hard.

When all was said and done I got a grade B in Further Maths and 3 As in Maths, Biology and Chemistry. It turned out that the exact person who knew how nervous I was about the exam was going around telling friends that, “It’s good she got a B in Further Maths, she was overconfident.”

I always had an inkling that this person did not wish me well despite any help I gave to her. This one statement confirmed her character to me and well over a decade later I know I can never trust her (it might also confirm that I can hold a grudge!)

She very unfortunately has a scarcity mindset. Her smile is but a veneer. To work with her would mean I would have to be wary.

The point I’m trying to drive home here is that in addition to having an abundance mindset yourself, surround yourself with people who think in the same way. Two heads really are better than one but they have to be the correct two heads.

When you start out in business, look out for people you can partner with. Importantly, don’t be overambitious – if you have no email list and a very small social media following don’t get disappointed when those that have worked for ages to develop their own following ignore you when you try to partner with them. You need to have something to bring to the partnership. If you have a great brand or a great product try to offer that to a collaboration.

Growth takes a significant amount of hard work and time but eventually that hard work does pay off and the partnerships you attract because of it get better and better.

How To Convert Low Energy Into High Income

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We all know someone with more energy than us. For some unknown reason even if you can produce just as much work as they can in any given amount of time, they seem to be able to just go on for hours and hours. They seem to need less sleep than you do and even after a game of squash or whatever it is they’ll shower and just rabbit on where as you need a break. I’ll call these type of people Energizer Bunnies.

Energizer Bunnies are exhausting to watch…so how can you work on their level? How can you compete with this type of energy to build a successful business and life.

Pretty much, something’s gotta give.

You just have to focus on fewer tasks than they do and make more sacrifices. If you try to do everything that they do you will just burn out.

For the most part, I need 8 hours of sleep a night and this is how I achieve the same or better academic and financial goals as Energizer Bunnies. I hope these tips help you too.

Firstly, I remember one little piece of advice my daddy gave me when I was a teenager, he said “Heather, there is a time for everything.” By this, he meant that sometimes you have to give up all or most of the fun stuff for a while in order to enjoy yourself properly in the future. If you try to have all your fun now as well as get your academic or financial success it just ends up with you having to work harder for longer.

I thought he had a point so I took what he said on-board.

With this in mind:

  1. I sleep for 8 hours almost every night. I rarely compromise on sleep to get work done because my quality of work is far higher and I am much more productive when I feel well rested.
  2. I don’t party or go clubbing much at all. Mostly because after about the age of 23 I stopped enjoying it. I’d been partying since I was 15 and it kind of got boring. If I did still enjoy partying I would just have to do it less often to produce the same amount of work as Energizer Bunnies.
  3. I’m disciplined about my leisure time. I love going to dinner and hanging out with friends, however, because I know I can hang out and chat forever I decide how much leisure I plan on having in advance (if I am working on something). Even with that kind of structure I can have plenty of unplanned fun but at the end of the day I have disciplined my mind to know that no matter how much fun I’m having, if there’s work to be done the next day fun must be cut short.
  4. I get help. A cleaner does all the domestic cleaning for us so I can save time. If I expend energy on cleaning I have less energy for running my business. This is one thing I don’t compromise on. If you live in a small manageable flat, this might not be necessary for you. Look at the things that take up your time and eliminate those. If you can get free help and support from friends and family, do that.

 In summary, don’t try to live the life of the Energizer Bunny.

Decide for yourself what a fun, balanced life looks like. For example, in my world, “fun” involves having more free time to hang out with my husband and kids, reading books in cafes whenever I want, eating out wherever I want and whenever I feel like it, sending my kids to good private schools and getting my cleaner to come more often. Even if the Energizer Bunny posts numerous social posts of them moving from one party to the next, flying to various exotic locations and playing lots of sport I know those are not my goals so comparing myself to them is fruitless.

The problem some find is that they do want to live the same life as their Energizer Bunny friends. If that is the case you just have to accept that in the short term you’ll need to have less fun and work harder so that in future your hard work pays you enough income to buy more leisure time.

There’s a time for everything.

So, how do you keep up with your more energetic friends?

Husband Gambled Her Fortune Away – $250k/Month Gone!

 

How life changes. A year ago I told you about a lady I admired. She built her business from nothing to over £2 million in revenue per year.

Now, what do you do when your business is doing so well?

Get your husband to quit his job and join the business, of course!

Alas, if only she’d known.

I do agree, in principle, that if you’re making that kind of money it’s great to get the family involved and keep as much of it in the family as possible.

Why should your husband slog away at a regular, dull job if he can add value to your cash cow of a business?

Anyhow, I digress. She made her husband The Business Development and Operations Manager. He was in charge of all the bank accounts and any strategic development of the business.

Little did she know her husband had taken up gambling; he was secretly using business proceeds to cover his losses.

She was shocked to find they couldn’t make payroll one month. She rushed to the bank and it was indeed completely empty.

They had to take a bank loan to pay their staff.

She was obviously very upset but things were about to get worse.  A week later she discovered that her agency could no longer supply nurses to the National Health Service because the Government was clamping down on exorbitant agency fees. They had sent out a circular asking existing suppliers to make an application so that they could be ring-fenced when the new legislation came into force.

Her husband had indeed received the circular but he hadn’t got round to dealing with it and missed the deadline.

Not only was their fortune gone, the source of that fortune had now also been pulled from right under their feet.

They are still trying to find their way around this situation.

Gambling is as addictive as class A drugs. Once a person is hooked they’re no longer the same – they lie and do many things that would not normally do. This is essentially what happened here.

They went from “balling” to struggling virtually overnight. After a 4 year period during which money was no object, it’s now a real struggle.

It is such an upsetting story. I’m still holding out for a happy ending but for now, let’s not lose the lessons from this experience:

  • Success requires continued work. Success is very much like getting a grade A in school. It’s easy to get an A once but to keep getting an A you need to keep working hard.
  • Check your financial position weekly, at least. As a small business, never stop checking your business bank accounts – whoever is in charge of accounts should give you a daily or weekly report.
  • Your hard work can be completely erased by a deceitful partner. It’s impossible to keep tabs on every move your partner makes so if you run a business together, work out your different responsibilities and have a system of checks to ensure you’re regularly updated on each other’s progress in the business.

I hope this helps. Please share your story, do you know anyone who’s been pulled down by a gambling partner? Have you? What happened and what was the resolution?

$250,000 per Month Lost Because He Followed His Heart

I was inspired to write this post by my cousin’s husband who missed out on a massive opportunity. Financial freedom was within reach and he let it slip. I’ve known him for well over 10 years now and in all that time he’s dabbled at starting this business and that business but not succeeded…yet.

Personally, I don’t think he was passionate about anything he started – it was always more about making money and as I explain in my book, Build A 6-Figure Product Business, money has to be a by-product not the main reason for you starting something.

Anyway, he comes by the house and says, “Heather, you know, two years ago a friend of mine needed help setting up a nursing agency and she asked for my help. I helped free of charge and after everything was set up she asked me to join her as a partner in the business. I refused because I hate all the bureaucracy and box ticking required to work with the National Health Service (NHS), and today she has 80 nurses on her books.”

That didn’t mean anything to me so I started digging into the numbers to understand why this was such a big thing. If there’s one thing you find out very quickly about me, it’s that I always jump straight into the numbers. I once met a stripper as I was walking through town and even then I started asking about the numbers right away but that’s another story.

These were the numbers:

  • The agency only deals with contracts rather than filling in day spots here and there. This means that they place their nurses in a hospital for 3 or 6 months and sometimes longer.
  • The hospital pays the agency £41/hour per nurse.
  • The agency pays each nurse £29/hour.
  • The agency therefore keeps £12/hour (£41-£29) – essentially this is their fee for finding the jobs, negotiating contracts and so on.

If every nurse works 8 hours / day and works just 20 days /month – how much does the agency earn per month?

They get:

£12 x 8 hours x 20 days x 80 nurses = £153,600 (that’s about $250,000) PER MONTH

The costs of running this kind of agency even with two or three well-paid staff will only be a fraction of this. I am guessing £30,000 ($50,000) per month at the most

THAT IS AN INSANE AMOUNT OF MONEY. HE TOTALLY LOST OUT ON A MAJOR OPPORTUNITY.

Keep in mind that many nurses will frequently choose to work the 12 hour shift and will frequently work 22 to 24 days per month so most of the time this number will be higher.

My cousin’s husband is already a medical professional and he lost out on this opportunity for the simple reason that he didn’t want to deal with a few forms. That is outrageous.

Why Can’t He Join The Practice Now?

Initially he could have joined the business with his input being his hard work because that’s what both him and the other party had to offer; setup costs were affordable. However, you can’t join a business that is making almost £2m ($3m) a year already without making an equity investment and with that level of revenue he can’t afford to buy an equity stake.

Why Should He Have Joined Despite Hating Paperwork

Yes, I am big proponent of running a business you are passionate about but…

…The fact is, no matter what your passion is, to get the job done there will always, always be tasks involved that you hate. Despite this, as your business grows, you can pass those tasks on to someone else: an employee or even a third-party company. You just have to put your head down and get things done in the early days until you get to that stage.

In the end, he lost out big time and all it took this lady to grow the business to this size was two years. Two years is nothing, when you’re busy it passes by in the blink of an eyelid.

To show you just how much this lady (of African origin like myself) is living it up: He was chatting with her, telling her about all the costs he had at that time with his wife and kids going on holiday etc. and without him even asking she brought out a cheque and gifted him £5,000 ($8,000), just like that! Who does that?

That’s what I call #success.

Do you have a friend that lost out on a big opportunity for a small reason? Did you? Please leave a comment and tell me all about it.

Reaching For The Sky – How To Conquer Self Limiting Beliefs

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Fact: you are capable of a lot more than you think you are capable of. 
I was driving around with my husband one weekend looking at plots of land and various properties.In addition, we drove to a few car dealerships and asked for quotes on cars. Whenever I liked something I said, I want that or I’m going to get that.

Finally, after two days of hearing me say this so many times, my husband asks: with what money!

I smiled and said, “You don’t ever need to worry about that. First, you decide what you want and then the money somehow finds you!” It sounds crazy, I know, but if I limited my heart’s desires based on the funds currently available I’d probably be nowhere right now.

I’m sure I’ve written about this before but the first time I ever wanted something crazy, I wanted to go to The University of Cambridge. I told my friends what I wanted and only after I got in and got a scholarship to attend did some admit that they thought I was insane for wanting to go to this Cambridge place that many thought was unreachable.

When I had this desire I didn’t know where the money would come from, all I knew is that I had certain things in my control: hard work, achieving the best grades I could, getting the teachers to like me and back my application and if it came to it, begging whoever would listen for help and advice. I almost never thought of the money issue because that would have discouraged me and it was 100% out of my control. I focused exclusively on what was right in front me – the next A grade.
In the end, I went to Cambridge.

Since then there have been many triumphs and of course, a few failures or life lessons, as I like to call them.

My latest fantasy moment occurred after I quit my job and realized I didn’t want a service business coaching people on how to get into investment banking after all;what I wanted was a product business.

Problem: I needed £80k to £100k($130k to 160k) to get it off the ground. Eek!

Now, I could have written a business plan and tried to get investors to be honest, very few people (even friends and family) are willing to fund a business in a genre that they think is overcrowded like the hair industry – and pretty much every industry outside of technology.

I had two solutions:

Solution 1:start off small, sell things that will keep me earning and enjoying a lifestyle based on working from home.

I did that and incurred some mocking but I didn’t care because my small business was earning enough to keep the bills paid. Okay, if we are being fully honest, I did get a little upset at some of the mockery. I’ll still never forget someone “laughing at me” me for selling wide-tooth combs on instagram – they made some comment about how desperate it was to be selling combs to earn a buck…whatevs, don’t worry hun bun, haters are always going to hate, just focus on your goals and your dreams.

When I had this desire I didn’t know where the money would come from, all I knew is that I had certain things in my control: hard work, achieving the best grades I could, getting the teachers to like me and back my application and if it came to it, begging whoever would listen for help and advice. I almost never thought of the money issue because that would have discouraged me and it was 100% out of my control. I focused exclusively on what was right in front me – the next A grade.

In the end, I went to Cambridge.

Since then there have been many triumphs and of course, a few failures or life lessons, as I like to call them.

My latest fantasy moment occurred after I quit my job and realized I didn’t want a service business coaching people on how to get into investment banking after all;what I wanted was a product business.

Problem: I needed £80k to £100k($130k to 160k) to get it off the ground. Eek!

Now, I could have written a business plan and tried to get investors to be honest, very few people (even friends and family) are willing to fund a business in a genre that they think is overcrowded like the hair industry – and pretty much every industry outside of technology.

Solution 2: just focus on onestep at a time and hope that I’ll save enough by the time I was ready to hire a manufacturer. So…I hired a formulating company.

Do you know how silly I felt walking into a meeting I’d arranged at an established factory as the 30-year-old CEO of Neno Natural to an audience of 3 people ALL over the age of 50 with a long career in formulating and producing beauty products? Very! To boost my confidence I was dressed well and I looked good in my makeup.

I came out shining.

They thought I was smart and they said the business I was proposing excited them above and beyond many other clients they were doing things for.

Over the course of 12 months I paid for the formulation and as we approached the 15th month enough money appeared to enable an order. Some of my earlier investments paid off and I was able to pursue the dream. That’s life.

If you set your mind on something, you will get it, I promise you. That stuff they tell you about self-belief making things happen? It isn’t just “stuff”, it’s for real!

Anyhow, I’d love to carry on this discussion with you and help you realise your dreams, if you want to start a product business sign up to The Money Spot program. You can join for as little as £49.99/month or come to my upcoming workshop on How To Build A 6-Figure Product Business.

Problem Solving – How To Think Out Of The Box

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Too many people try to solve every problem they encounter by themselves. This is not only a waste of time but it’s completely unnecessary. I came up with this insight as I watched my 8-month old son trying to solve his problems.

I noticed that every time he wanted to get to something, if there was an obstacle in his way he continually tried to climb over the obstacle or push through it when he could simply walk around the obstacle and avoid it entirely.

One time, there was a ball behind me and he kept trying to squeeze through my legs when there was ample space to crawl on one side of me. Another time there were some cushions in his way, and yet, another time his little girlfriend Maya was in his way; she really didn’t appreciate having a 9 kg boy trying to climb over her.

His problem solving skills are still in development, of course, but some people do exactly what he was doing throughout their lives.

Today’s tip is simple: Think about how you can avoid your problems. Instead of climbing over them, can you work around them? I’m not suggesting you take short cuts, no, I’m just saying the solution is sometimes a lot simpler than you think.

If I’m struggling with an issue I refer it to my mastermind group. I have weekly mastermind calls with my entrepreneur friends and often, we problem solve together. There’s nothing like a fresh pair of eyes.

Note that I don’t go to non-business friends to solve business problems; I only go to those of my friends that are in business because they are better equipped to give good business advice.

I started my business in 2012 and it took about two years to build a good quality, credible network of friends.

If you wanting to accelerate the growth of your product business with my coaching program, you can either join the online solution or come to my upcoming live workshop. Alternatively, call to discuss the best solution for you.

Visualisation: The Reason You’re Not Succeeding

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How often do you think about how you’re going to live life in your 60s? Here are alternative outcomes.

Living Off The Kiddies

Some will reach the age of 60 without a single saving. You will depend on your kids for money, for food and perhaps even need them to house you somehow – if they are willing. For many this will not happen because life has been unkind to you, it will be the result of a series of bad choices such as having more children than you can afford to support and not saving enough.

Be in no doubt that if you find yourself in this situation you will be a burden to your children. In the ideal world children don’t want to have to look after their parents financially and if they just earn enough to support their family will resent having to look after you because you didn’t plan for old age.

Could this be you?

The Art of Visualisation

Visualising is like fantasising. You visualise a specific event in the future in very specific and detailed terms and think about how much you will enjoy it. Scientists have confirmed that visualising can lead to the achievement of real results.

In a well-known study on creative visualisation in sports, Russian scientists compared three groups of Olympic athletes:

  • Group 1 received 100% physical training;
  • Group 2 received 75% physical training with 25% mental training;
  • Group 3 received 50% mental training with 50% physical training;

Group 3 had the best performance results. This indicates that some types of mental training, such as consciously invoking specific subjective states, can have significant measurable effects on biological performance.

Further to this, some celebrities have argued that they have achieved certain results in their life by visualising them first. These include Oprah, Will Smith and Jim Carrey.

Visualising helps you to focus on a goal. If you can find just ten minutes a day to meditate and visualise the things you want to achieve you will increase your chances of achieving them.

Most people don’t think too far beyond the next couple of years, if that. Those that do are at an advantage. Of course you shouldn’t live so far in the future that you cannotenjoy the present. That said, thinking about and planning for the future is enjoyable in itself –just do it!

“Ordinary people believe only in the possible. Extraordinary people visualize not what is possible or probable, but rather what is impossible. And by visualizing the impossible, they begin to see it as possible.” Cherie Carter-Scott

How To Increase Will Power To Enjoy More Success 

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A series of good habits is pretty much all it takes to foster a culture of success in all areas of your life.

To form a set of good habits all you need to do is adopt a couple of good habits at a time through repeated action. Don’t commit to adopting too many habits all in one go.That is more than the average person’s will power can handle. However, once a good habit is formed it gets easier and easier to build on that base to form more good habits.

Now, a lot of literature out there talks about how will power is limited, however, what you don’t often hear being discussed is that “the will power muscle” can be grown. The more you exercise your will power the more will power you gain.

In this article I aim to help you understand will power a little better so that you can use it to your advantage.My writing on will power is informed by several books that I have read including The One Thing by Gary Keller and Jay Papasan as well as The Power of Habit by Charles Duhigg.

Will Power Is Limited – What Does That Mean?

When you wake up in the morning you have a full tank of will power. Over the course of the day, every time you encounter a situationthat requires you to exercise control, that will power is used up. This means every time you encounter a situation you have less and less will power to deal with that situation.

Once you form certain habits or standard responses, those challenging circumstances cease to tax your will power. I’ll give you some examples that are very common in every day life.

Examples of Instances Where Exercise Will Power Is Used Up

Food

You wake up in the morning and face the first challenge:Crunchy Nut Cornflakes or Oats

If you don’t particularly like oats but choose to eat them anyway because they are good for you then that decision uses up a bit of your limited will power for that day.

If you set a given standard that you’ll eat oats for breakfast everyday except Saturday you cease to use up any will power at breakfast because the decision of what to eat has been decided beforehand;you’ll eat oats at breakfast out of habit and you might even start to like them.

Challenge 2: Around 10 a.m. you feel hungry. 

If someone offers you a biscuit or slice of cake you will take it. If you’ve developed the habit of always carrying fruit with you to snack on when mid-morning hunger hits then you’re equipped not to give in to sugary treats. Carrying fruit around with you is a good standard habit.

Temper

Every time you get annoyed or upset but manage to handle a situation without letting emotions get the better of you, you use up some will power.

In The Power of Habit by Charles Duhigg he recounts a very interesting experiment. Two groups were invited to take part in a study:

  • Group 1 were treated nicely by the experimenters and at the end were asked to give suggestions on improving the experiment etc.
  • Group 2 were just told to do it; they were not told why they were doing the study nor were they welcomed to suggest improvements

After that, each group was asked to do a boring task. A series of numbers popped up on a computer and every time a 6 was followed by a 4 the participants were told to press a certain button. Interestingly, group 1 did well and managed to continue doing this rather mundane task for the entire 12 minutes whilst group 2 kept making errors and for the most part couldn’t do the experiment for the full 12 minutes.

The conclusion was group 2 had used up their will power in the first part of the experiment. However, because group 1 were made to feel like they were helping and were an integral part of the initial phase of the experiment their will power wasn’t used up by the time they were set in front of the computer.

To the extent that we feel in control of a situation(as group 1 were made to feel) we don’t use up will power.

Money

Most people purchase whatever they want to buy if they have the money (or credit) and every time they stop themself from purchasing something their heart desiresthey use up some will power. If you adopt the standardthat you only go shopping for, say makeup and clothes, on a Sunday then every other time you see something nice in a street window you don’t purchase it on impulse because it’s not Sunday. By the time Sunday arrives you might decide you don’t want whatever it is that looked amazing in the week.

In conclusion, any situation that requires you to exercise self-control uses up your limited will power. If you set up some rules for dealing with these situations then you don’t have to think up a reaction every time; this will result in less usage of your will power. The better you get at managing your will power using a bank of good habits and pre-set standard responses, the less of it you will use up unnecessarily

To your success.

Poor Habits Keep You Poor – 10 Good Habits For Success

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When I got downstairs this morning I opened the cereal drawer and remembered it was my first day off healthy eating and tracking every morsel I eat on the myfitnesspal app to congratulate myself for losing 5 kg in a month. I did the funky chicken, I high-fived my husband but then after those first few happy moments I couldn’t do it. Yes, I was going to eat more liberally than usual but I couldn’t not track my food and I decided I still wasn’t going to eat cake or any dessert because I want to lose more weight before I do that.

I have formed the habit of eating smaller portions and even when I have a scheduled day allowing crazy eating, I don’t want to do it.

This reminded me how so many goodthings are accountable to good habits. Habits, both good and bad, are very easy to form.

According to The One Thing – The Surprisingly Simple Truth Behind Extraordinary Results By Gary Keller And Jay Papasan, habits have been empirically shown to take an average of 66 days to form but can take as little as 18 days and as many as 200 days depending on the complexity of the habit one is trying to form.

This sentiment is reinforced in the book I am currently reading The Power of Habit by Charles Duhigg. He reminds us that  “habits are not born, but created. Every bad, good or insignificant habit starts with a psychological pattern called a “habit loop.”

Okay, so, what sort of habits build wealth?

I’ll give you a few that you can easily implement. Some good habits I’ve had since before I was a teenager like the habit of enjoying work; however, I continually work on adopting more and more new good habits.

Eating healthily is a habit I struggle with and I always seem to slip back after a life change like getting pregnant or moving house; I revert to eating huge portions and too much unhealthy food then I decide enough is enough so I start working on reforming good eating habits again. I call these lifestyle changes. Since 2005 I have had 3 or 4 lifestyle changes.

On the plus side, each time I slip back I don’t lose every good habit, just a few of my old habits creep into my life again. Anyhow, what can you start working on today?

  1. Wake up early and go to bed early. Sleeping well is key to productivity and eating healthily.10 p.m. to 6 a.m. is a good target; 9 p.m. to 5 a.m. works for some.
  2. Read a business or life-enrichingbook for 30 minutes daily on your commute to work. I have reviews on manyfantastic business books. If you struggle to find time for reading pay for a subscription with audible.com. I pay for their annual 12-book deal so I can listen as I walk the baby or jog.
  3. Instead of watching 3 hours of TV in the evening watch just one pre-selected hour then work on a personal project the rest of the time. The habit of watching excessive TV is much easier to kick than you might think.
  4. Work out at least 3 times a week for 30 minutes each time.  You don’t need to go to the gym for this. Do strength training – squats, lunges, push-ups, sit up, planks etc. Even if you can’t do them now within a short space of time you will get better and better.
  5. Every week spend time with one of your intelligent friends; you know, those girls or guys that always leave you a little inspired to be better. Don’t have any of those? Well then maybe it’s time to find new friends.
  6. Set a weekly budget then get that amount of cash in your wallet and leave ALL your cards at home. You will get into the habit of spending better so fast. It’s so much harder to spend cash than to swipe a card.
  7. Only check your emails and social media at specific pre-set times each day.
  8. Turn off all notifications – yes, even email notifications. EVERYTHING. My phone only alerts me when I have a text or when someone is calling. All my other apps: Facebook, whatsapp, instagram, mail etc. are off.
  9. Give yourself a treat only when you have succeeded with your goals. It gives you something to look forward to and focuses the mind.
  10. Review your life periodically. Say, on the last day of every month. Is everything working as you planned? If you fail to plan, you plan to fail.

Finally, note that everyone has a limited amount of will power. If you stop yourself from doing something that you want to do, you use up a bit of that limited will power such that by then of each day your stock of will power is almost depleted. Consequently, don’t try to implement too many things at once. Work on one or two habits at a time. Once you form the required habit introduce a new one.If you take this approach it will feel less taxing because once a habit is formed it’s automatic, you don’t have to think about it

Forming good habits is one of the elements we focus on in the Success portion of The Money Spot Program on how to build a 6-figu
re product business.

If you would like to build a product business and if you want to maximize the chance of building it into a 6-figure annual income then you should do The Money Spot Program. Live the life you want. This year the workshop is at New Hall Spa Hotel in Birmingham, UK on 17 & 18 October. A night’s accommodation is included. Join us. If you’re based in London the train out there is less than 1.5 hours and if you’re in Europe you can fly into Birmingham International Airport.

If you can’t make the workshop then the online-only course is waiting for you.

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