Going from Employee to CEO
Scaling Your Bank Account from $0 to Many $00000’s.
These are very hard to do and yet most of us go about them all wrong.
I have certainly made these same mistakes we all make in climbing the ladder and building our wealth. Maybe even more than I would like to share.
- I have done plenty of side hustles (failed and won some)
- I have started businesses and run myself ragged to make more money, finding that I never quite had the freedom I had expected to come from running my own business.
- I still make some of these same mistakes, but I have learned.
I have learned from reading, podcasts, videos like this one, and mainly from others mistakes. Here’s what I have found. There is a better way than the relentless side hustle grind.
Apologies for the long post, but it seemed worth the time to put this in front of you since it’s one of my greatest take-aways in last couple decades. If you don’t want to read through the whole thing, you can just watch the video.
In this video I break down some of the lessons from one of my favorite books by Robert Kiyosaki (who we were lucky enough to partner with in my book The Miracle Morning for Salespeople co-authored with Hal Elrod). Robert’s book, Cashflow Quadrant, is in my top reading list for aspiring entrepreneurs, entrepreneurs, serial entrepreneurs, and small business owners.
Through coaching and training thousands of employees, entrepreneurs, and small business owners I have seen people become stuck again and again.
Let me break it down for you.
Different methods of income generation require different technical skills, different educational paths, and different types of people.
The two quadrants on the right side (B & I) are the primary paths to financial freedom. The ones on the left… well they are not.
The majority of Kiyosaki’s book teaches the unique skills and mindsets required to succeed on this path. Let’s break them down with some NEW and BETTER ways to achieve them.
E – Employee
I am sure all of you are aware, most through first-hand experience, of this quadrant. Many refer to this as the rat race. We trade all the profits of the company for a steady, reliable paycheck and the safety and security we believe we find in a job. Maybe not so stable with 20% unemployment and huge furloughs and lay-offs, likely with more to come. But I digress. People stay for the obvious benefits and slowly their income increases over time, but for many not even at the same rate as cost of living. We work everyday for the man (or woman) and the owner takes all the risks and reaps all the benefits of our hard work.
S – Self-Employed
Sort of a double edged sword here in my opinion. This is where I see most people falsely believe they are business owners, but really they own their job. If they stop going to work everyday, their income dissipates into nothing. People get stuck here for a number of reasons, but fear probably leads the pack. Often people find themselves working harder to be their own boss, and earning little more than they did as an employee, but most are happy with their decision to be their own boss. These roles often come with extra hours and nights and weekends to hit higher income numbers, and the flexible schedule they had hoped for is not always found. They tend to lack leverage, and therefore struggle to scale.
B – Business Owner
The business owner quadrant is my focus right now, because I believe it’s the key to unlocking the whole quadrant. Is there more risk for your reward, probably some, but you have control to mitigate risk and the power to scale rewards. Business owners have leverage of technology, systems, and most importantly people. They have lots of employees (E) who are willing to trade time for a paycheck and help scale the owners profit. When driven to a large enough size, they even create a level of freedom that is likely never to be found in the E or S blocks. For me that’s reason enough to find your way into the B quadrant. However, one of the other reasons is being able to scale cashflow from your business or businesses in order to jump to the next quadrant.
I – Investor
This is the magical quadrant where all the little money soldiers you’ve earned go out and recruit more soldiers. This is the quadrant where passive income can compound and continue to grow to create generational wealth, allow for greater charitable contributions, leave a legacy, and truly create financial freedom. The problem, you need capital in most cases to do this. The best place to create enough of that capital to really fund investing at a high level is definitely the B quadrant.
NOW, ASK YOURSELF: What quadrant do you currently spend most of you time in now?
As I mentioned before I have watched people get stuck in these other quadrants for years or even decades. Some find themselves permanently trapped in the E and S quadrants, and that is why I created this video to help show you that you can make the leap.
- You don’t have to side hustle your way into it.
- You don’t have to give up all your income.
- You don’t have to compete with the 95% of start-ups that fail.
- There is a better way.
Watch the video and if you want more information on how to leap into the B quadrant with little of your own capital and learn how to successfully acquire your way into immediate profits, full-time income if you choose to operate, and the opportunity to grow an asset you own then checkout more information on our course and mastermind to learn the proven methods to find, negotiate, structure, fund, operate, and expand your business.
Co-founder, Unconventional Acquisitions