6 Ways to Grow Your Personal Economy If you learn to recognize opportunity you won't have to worry if the economy is good or not.
By Grant Cardone Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
The media tells you the economy is improving, that industries are going up and that there's more money to go around. When people think things are going well, they get confident and less resistant to spending their cash. Last year they didn't think Christmas would even happen, now they're ready to buy two trees. Regardless of what is going on in the world, you want to focus on creating your own personal economy that's not tied to current events. Don't wait for someone to tell you that things are good or bad. There's always an opportunity for you to schedule more appointments, get more deals, and increase your profits. How do you do it?
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Create massive expansion in any economy:
1. Increase your think.
Don't think small. Think bigger. The bigger the problem the more money is available.
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2. Reduce your time.
Shrink the time down to accomplish your targets. Don't waste Friday, Saturday, or Sunday drinking with your friends.
3. Fill your pipeline.
Keep your calendar full. Don't bet on one deal or client. Have so many appointments and clients on your list that one won't make or break your success.
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4. Stay super focused.
There's misinformation everywhere. Get rid of the junk and remove distractions. Don't lose sight of what you need to do to reach your target.
5. Follow the money, not just the hustle.
Windows are closing. Maximize what you can while it's still available. Is it in the auto industry, online or in real estate?
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6. Stack and pack
Get it. Keep it. Put it away. Generate as much income as you can and put it away to invest in income-producing assets.
To put it together, you have understand how income flows work. Most people rely on one flow of income like a salary. Salaries are a hammock -- a place where you sit back and enjoy if it's good enough. Sounds nice, but what do you do when something unexpected happens? Just like the ups and downs of the economy, you have to plan for the worst.
Look for ways to increase your main flow of income and build as many secondary flows that you can. When you're looking to move from one flow to the next, make sure they are symbiotic and reinforce what you're already doing. Too many people pay attention to a secondary flow and let go of the first one. Always protect your main flow and use it to fuel all others.
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Just because things appear to be going well, you have to be prepared for the worst. If you have no money, don't blame the economy. Go to sleep like your broke. Wake up hungry. Get ready. Stay ready. Build up your personal economy to such massive levels that no economic event can take it away from you.
