The long and short of it is, you always want liquid money to help you navigate tough times. If things are rough, the last thing you want is the added stress of worrying about making your mortgage payment.
If you’ve got 2 incomes coming in, you each want 6 months of an emergency fund saved, if you have 1 income/you’re flying financially solo, you want a year, and if you’re a rockstar, you’ll have 5 years.
These may seem like longshot goals, but we assure you they are very possible. Not only that, but they are a true godsend when hard times come a’calling; and trust us, they always do.
There are specific, measured, and NEW actions to understand, put into action and MASTER. This course is your game plan to do all three and bank the results.
What you’ll get:
Post Pandemic Productivity & Profitability
Daniel Burrus is considered one of the World’s Leading Futurists on Global Trends and Disruptive Innovation.
The New York Times has referred to him as one of the top three business gurus in the highest demand as a speaker. In this episode we
discuss the coronavirus pandemic and how it impacts you.
Are you the best at what you do?
Everyone wants success, but very few achieve the success they dream about.
This personal challenge e-book describes the personal evolution necessary to become a super-star.
We all must heed the warning of the dot-com busts that have come before us. Tech stocks are great, but they can’t be your sole focus. They’re hot right now, but slow and steady wins the race. Tech changes abruptly and outdates itself constantly. And frankly, tech stocks are living large right now but on borrowed time. Diversify!
This next tip goes out to all the business owners, especially the new ones. You’re starting out or trying to persevere during an economic climate we’ve never seen before. Hats off to you. But, especially if you’re new, please make it your priority to get cash positive as soon as you can (this may seem obvious, and much easier said than done, but we believe in you, you little mogul).
If you do climb to the summit of success, congratulations! Now live like you could fall off the peak at any time. Save your money. Success is fun and it’s also wildly unpredictable, so skip the BMW and Rolex for now. Lots of financial gurus out there like to set a percentage that you should save, but we’re here to ask, “Why limit it?” Save as much as possible. Every month. Just do it.
We know they’re called “financial advisors” in the real world, but the real world is boring and ours sounds cooler. Regardless of what you call them, once you start saving it’s time to call in the experts to help you manage your money in more effective ways.
Especially if you’re running a business, you don’t have time to manage a roster of investments. Or maybe you don’t want to; there’s no shame in consulting an expert and having them manage this critical component of your financial life. Invest in yourself. Literally.
We always hear people saying we should live in the moment. And sure, in terms of family and life, you should. BUT not financially. It’s easy to think that if times are good now, they’ll always be good.
This is false. I know we’ve said this before, but we’re saying it again. Save. Your. Money.
Don’t celebrate at the expense of saving. Make your money and be smart about it, not just happy about it. We bet the inventors of the VCR wish they’d done this (we actually don’t know their current financial conditions, but you get the idea).
Set goals, exceed them, think on ways to move forward with an eye on moving up…but always anticipate the downtimes. And be prepared for them. It’s a dance of managing risk while you’re seeking opportunities- that feels like a Pasodoble to us, but we’re no experts.
Like we said above, investing now is much different than investing 100 years ago. Things taken as gospel back in the day make no financial sense now. Things progress at such a rapid pace that it’s important to invest now with an eye on the future- where will X product be in 10 years? Is it adaptable to inevitable technological changes?
This is also key for your own business. In terms of ideal financial situations, you need your income to outpace annual inflation. This means your business has to endure and grow consistently. So you’re going to have to try and anticipate what your customers want not just now but in the future, so you’re growing with your clients.
And, perhaps most importantly; beware of inaction. This idea of planning for a future that hasn’t happened yet aka “I’ll tackle my savings when…” This has a compounding effect most people don’t notice till it’s too late. If you don’t start saving as soon as you can, down the road you have to save all the more to catch up.
Our last tip for you is to just be flexible. You need to have a general strategy for both your business, investments, and money in general, but it has to have some bend to it. Things are going to evolve in ways you can’t predict, and having financial tools in place that will help you absorb impact from those changes means it has to be adaptable.
Until next time, flexible savings equal long-game financial freedom!
Be sure to listen to all of episode 581 for more details on how to make your investments and business strategy adaptable to ensure endurance! Then head over to our Insider’s Club to take the assessment and learn what skills you can optimize for success. We’re here to help provide you with the tools you need to effectively improve upon your skillset and move to the top sales spot on your team…We’ll see you on the inside.
If you enjoyed this episode please take a second to rate & review. Each review helps us help more people just like you make a difference in this world! Don’t forget to take a screenshot, share it in your Instagram stories, and tag us @jeffreygitomer and @jengitomer. See you next week!
Oh, and one more thing. If you’re interested in learning more about this week’s guest, Louis Llanes, or purchasing his book see the link below:
Purchase a signed hardback copy of Financial Freedom Blueprint: http://www.pathtorealwealth.com/shop-books
Or purchase the ebook or paperback copy available on Amazon HERE: https://www.amazon.com/Financial-Freedom-Blueprint-Accelerate-Prosperity-ebook/dp/B09KMCB8P2
Known as the King of Sales, Jeffrey Gitomer is the Author of 16 best-selling books including the Little Red Book of Selling, the Sales Bible, and his newest book Get Sh*t Done. In 2008, he was inducted in the Speakers Hall of Fame – the highest award in the speaking industry. His world-class list of clients include companies from Fortune 500 companies around the world. His digital Learning academy and signature course, The Seven-Figure Sales Formula, offers individuals and teams real-world sales strategies they can implement immediately.
Jen Gitomer gained her prowess in NYC as both a salesperson and award-winning sales leader for a Fortune 500 company. She is the best-selling Author of Sales in a New York Minute, CEO and Founder of Breakthrough Business Babe and a master business growth coach.
Jeffrey and Jen thank you, Diehard, for helping Sell Or Die achieve more than 2 million downloads!