One of the great challenges in wealth creation, especially if you have your own business (or desire to) is making enough NOW to pay your bills while at the same time creating an asset that can make you money while you sleep and help you create long term wealth.
That truly is one of the great dilemmas I see so many people face.
Some of the soundest and most practical advice I ever received on the subject came from my good friend and business colleague, Denis Waitley as well as from my mentor and business partner Jim Rohn.
Denis shared with me that as impressive as it sounded that he has written 18 books over the past 40 years, the
thing most people fail to realize is that he wrote them all at night during what is most people’s prime time TV time.
So he worked all day and sometimes weekends on his full time gig, his speaking and consulting business, but all of his best-selling books and programs were products of prime time efforts.
Jim Rohn spoke extensively for direct selling companies and one of his best pieces of advice to distributors was to
continue to make a living at their full time job while at the same time building their wealth and long-term assets from their part time direct sales job. First it takes some of the immediate pressure off and allows you to build your long term wealth the right way. Second it allows you to stay in the marketplace and third it makes your success in your part time venture even more impressive. For example, if you are in direct sales the majority of your prospects have jobs. If you are full time in direct sales they might assume they could never reach your level of success, but when you are part time it makes your success even more impressive and most important more relatable.
Same is true if you want to build an online business. I believe with technology today it’s possible for virtually anyone to have a online business on the side. It’s a great way to build a long term asset. It’s also a great way to get your family involved in entrepreneurship. And just as Denis and Jim suggest, you don’t have to quit your day job to get started. In fact, they suggest you don’t.
Now at some point in time if your venture or business becomes wildly successful, it may be necessary to go full time and then by all means do it! But the main lesson is you don’t have to wait to write your first book, start your part-time gig or build your own online business. You just have to be willing to trade in some of your entertainment or prime time TV time into prime time earnings time.
To Your Better Future,
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