How to Build Wealth in Sales
Sales is the BEST PROFESSION to build wealth and create financial freedom.
Here’s my definition of Financial freedom: The ability to do what you want, when you want, with who you want, without having to worry about money.
Last week I had the pleasure of taking a spontaneous trip to Lake Arrowhead with my family.
We rented a beautiful Lake House right on the water, and didn’t think twice about going.
Devoting 20 years to my sales career enabled me to get here.
You see, I don’t come from wealth.
When I started in sales twenty years ago, I had 0 dollars to my name.
I had to move back home with my parents after teaching English in Venezuela for a year.
I left behind a woman I loved, and promised her that I would find a way to bring her to the US within a year.
I found a job selling copy machines door to door, and was able to save enough money to fulfill my promise, bring her to the US, and pay for her college at 23 years old.
Sales allowed me to do this.
When your why is strong enough, you will always find a way how.
Over the past 20 years, I’ve saved enough money from sales to retire at 42 years old and run my coaching business full time, which is a dream come true.
Here are the 6 keys to accumulate wealth at all stages of your sales career:
1. START WITH WHY – know exactly how much you money you need to make and why. Be detailed and specific.
DREAM BIG and VISUALIZE a brighter future where you can have everything you want and more. Experience it and FEEL IT in your mind first. Then go CREATE IT in reality.
This is the entire premise of Napoleon Hill’s masterpiece Think and Grow Rich.
2. RAISE YOUR STANDARDS FOR YOURSELF.
Ask yourself the following questions:
What type of person do I need to become to bring this vision to life?
What changes do I need to make in how I show up every day?
3. CREATE A SALES/BUSINESS PLAN and back into it.
Understand your commission structure details and map out exactly how much you need to sell to achieve your desired income.
Quota is never the target for top performers…it’s ALWAYS income.
4. WORK ON YOURSELF AND MAKE THE CHANGES YOU’VE IDENTIFIED to bring your vision to life.
“If you work hard on your job, you make a living. If you work hard on yourself, you will make a fortune” – Jim Rohn
5. Always live below your current income, rather than adjusting your lifestyle to match your growing income.
I just read that 50% of people making over 250K/year still live paycheck to paycheck because their cost of living rises proportionally to their income.
Regardless of how much money you make, if you spend it all you will never accumulate wealth.
Don’t make this mistake. If spending money will put strain on you financially, don’t spend it.
6. Invest as much as you can every year.
Real estate and index funds are my preferred investment vehicles.
In today’s video, I take you through Steps 1-3 and share my vision for a DREAM LIFE.
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