Benjamin Franklin said, “An investment in knowledge pays the best interest.” Over the last decade of growing as an entrepreneur, this has perhaps been my biggest investment that has yielded high growth and high returns in my business – investing in learning, learning from people with real solutions, learning from people who have been there and done that. One of the key pieces of learning that really helped me to structure my business for growth right from the start was financial literacy. So today, I wanted to share 3 reasons why this helped me grow fast, and how it keeps helping me build my business, and my abundance.
Your Decisions About Money (It Determines How You Run Your Business)
There is no argument with the fact that your decisions today makes up your reality in the future. The way you work with money (knowledge), feel about money (money blocks or money beliefs) or make your decisions (fear based or growth based?),determines how fast you can grow it in your life (and business).
There are two very important observations I would like to share with you here. One is that when you decide NOT to do something, for example, if you decide not to take up a marketing course because of lack of funds, it does not mean that things remain status quo.
No decision is also a decision.
Your decision not to invest in your growth directly impacts the growth of your business.
The second observation is this: When you make decisions, do you make them with the idea of where it can take you over a month, 6 months, a year, or more? Or are your decisions impulsive?
Learning about how to structure your business for long term growth, having the ability to take decisions today that will yield incredible results over a period of time is where the game is at. The more you learn and practice decision making based on your understanding of the market, analysing and predicting trends and having a sense of where the market is going, the faster you grow in your enterprise. Your business and financial literacy helps with that.
What You Don’t Know, You Can’t Grow
When I started investing in my own growth through mentors, coaches, trainings and courses, books and participating in seminars, I learnt something crucial – every entrepreneur must learn the language of growth, the language of leverage and the language of money. Business and money have their own language, and if you don’t know the language, you can’t use it to grow either of them.
The simplest reason why many entrepreneurs can’t grow their business is because they don’t know what to do. They don’t know how to speak the right language. And even if they hear information over podcasts, see videos and listen to masters and teachers, things don’t change because you may not be able to fully understand it, or implement it.
This is why it's important to immerse yourself in learning and understanding of the the tools, the strategies, the innovations and new discoveries that could radically change your business, and quickly. Along with study, you need to test out the theories and attain the experience that will help you take better decisions for yourself, and your business.
The three areas where financial literacy can directly help you in upleveling your business are:
- Learning about leverage – how to automate your business and create systems that provide high value, in less amount of time
- Learning about passive income – we will talk about it in the next paragraph
- Learning about financial freedom – you have to understand the fundamentals of your personal finance and how to look at financial management of your business
The three together will give you massive boost in personal and business growth & grow your money.
Structure Your Business As An Asset
There is a natural law to everything in this world. The law follows that in order to get something you want, you have to align yourself to it. If you want to manifest a house, just wishing it will not attract it to you. If you want to manifest a thriving yoga business, for example, wishing and wanting it is not going to help you. If you want financial freedom, reading a few books is not going to help you much. You have to align yourself to the natural flow that will get you there. Getting the right alignment requires study and practice.
Unfortunately, most people don’t understand what these natural flows are, nor do they understand how to get aligned! However, there is a simple way to start figuring it out and that is to follow, emulate, practice and learn about the flows of those who have made their success. In order to understand the flow, you need financial and tactical wisdom.
The biggest boost to our business came when we realized how to structure our business to achieve passive income and cash flow.
Using digital marketing and passive income strategies, you can structure your business to grow fast and give you higher returns in a shorter period of time. In order to gain ideal clients, your business has to be positioned and branded in a way that it establishes you as an expert in the market. There are some incredibly simple tools and strategies to do that and we could go into your deeper strategies on a one-on-one call, if you wish.
However, what is important at this time is to realize that if you don’t structure your business for long term growth, you won’t grow long term.
If you don’t create your business as an asset, which means that you create passive income structures and products in your business that will give you returns for a long time, without your having to work hard for it, you will never create successful and long term cash flow.
So the question is – are you going to be the 1 out of 5 small/home business that succeed or the 4 out of 5 businesses that fail within 1-5 years due to lack of structure and lack of cash flow?
Invest in the right learning. It will take you far and it is exactly what has changed the bottom line for us in our business. I wish you all the best!
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