Morning Meandering on the Topic of Profit

img_5873-2Supposition…what are your thoughts?

Conscious, ethical profit is a wonderful thing. It’s the return on your labor and your genius. It’s wonderful, that is, until it becomes the sole motive in society. That can turn the noblest endeavors into pure evil.

The wonder quickly becomes a massive negative incentivizing things that ought not be incentivized. We often refer to profit as the bottom line, forgetting that in an enlightened society people must always be the bottom line.

Ray

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Multiple Income Sources – Day 35 of 365 Days to a Better You

Multiple income sources

Today’s post may or may not apply to you, in your estimation, but I’d contend it does apply to all of us today. There are a lot of us, to one degree or another, who are living in an old paradigm when it comes to money and financial security.

I’m 54. My parents generation had a mantra that you got a basic education (maybe including a college degree or maybe not), you got a job, you worked hard, you saved what you could, you stayed loyal to your company and they would take care of you. My generation came along and realized this abject loyalty to a single employer was not being returned by employers. Our belief was that you got an education that included at least a bachelor’s degree and maybe an advanced degree. You viewed jobs the way a monkey views branches on trees. You swing from one to the next, trying to advance as you go.

Both of these paradigms have one thing in common. They both rely on you allowing someone else – a single company or multiple companies – to determine your financial success.

The two newer generations coming up now get kind of a bad rap from the two previously mentioned generations. They’re lazy. They have no direction. They don’t really care about getting ahead. At least, that’s the perspective through the eyes of our old paradigms.

The reality is, they’ve accepted something that shatters the two previous generations’ paradigms. There is no security in a safe corporate job. Plus, it sucks your soul and damns your independence and creativity in return for a paycheck. They’re not playing.

What this has created is a rebirth of entrepreneurism. If you go back a few generations ago, people largely controlled their own financial destinies. They owned a business or a farm. Then factories happened and Walmart happened and that idea of making a go of the world on your terms was decimated.

However, today’s technology and this innovative young generation have turned the tables on that world view. They want to live their life on their terms and they’re finding ways to run “lifestyle businesses” that allow them to earn the money they need while living the life they want right now – rather than waiting for their allotted vacation or retirement time.

Power hack: OK, Ray, so why are you telling me this? The system on which the older generations (including mine) base their paradigm is gone. The corporate career is not safer or more secure. For most people it does not provide financial freedom and the lifestyle we’d choose.

I’m not telling you to quit your corporate job, but I am suggesting you find a way to augment your lifestyle and your income using the tools and ideas that are driving this new generation.

We’ve all learned not to put all your 401(k) investments in one fund. The best practice is to spread the risk. Only we don’t do that with our incomes. We rely on the job and if something happens to the job, we get another job.

What if you turned your passion into a viable revenue stream or multiple revenue streams to open the door to more options than you have today? What if you took a page from this younger generation and refuse to rely on corporations to decide your financial future?

Would it change your future more than another night of reality TV? Would it put the passion back in your day, your week, your year? I can’t tell you what that “side hustle” is for you. I can only tell you that the smart money for living your best life relies in having other sources of income beyond the J-O-B.

Brainstorm some ideas. How could you make a growing side income doing something you love? Need more help?

Checkout these articles with tons of ideas for side-businesses.

You are all the best!

Ray

Loving this content? Check out the TAS website and YouTube channel for more.

Make Meetings More Productive – Put a Stake in the Ground

In the corporate world and often in our personal life, analysis paralysis or eternal collaboration can make you unproductive. Get more results in your meetings by being the one who is willing to put a stake in the ground.

34 Entrepreneur Affirmations

Today’s quote:

“An entrepreneur tends to bite off a little more than he can chew hoping he’ll quickly learn how to chew it.”
~ Roy Ash, Co-founder Litton Industries

A hundred years ago many of our ancestors were business owners – entrepreneurs, craftsmen, farmers, or professionals. Slowly, we began transition into a society of corporate employees. By the 1980s, Wal-Mart was putting the final nail in the coffin of main street small businesses and we became largely a corporate culture.

Then the Internet was born and there was a resurgence in entrepreneurship. That trend found new meaning as the world sunk into a global depression in 2008. Today more and more people are connecting with their entrepreneurial roots and realizing that their future and their financial security relies on their own efforts. Fewer and fewer people are willing to put their fates in the hands of institutions, including corporations.

We won’t see the end of cube farms any time soon, but everyday more people are waking up to the power within them to control their own destiny.

These affirmations are for the people who get up every day, bite off more than they can chew, and make it work.

  1. I understand my customers’ needs and I meet them. I understand my customers’ expectations and I exceed them!
  2. I am a visionary! I see trends well ahead of the competition.
  3. Day by day, I am building the foundation of long-term business success!
  4. My formula for success is in place. Now I am all about execute, execute, execute!
  5. A successful business person lives within me and today that person is running my business!
  6. I believe in my idea and I know I can bring it market successfully!
  7. I am in the right business at the right time with the right message! Today I capitalize!
  8. Day by day, my business and I are growing and learning together!
  9. Today and every day, my business generates an ever-growing revenue stream!
  10. I trust my talents! I trust my instincts! I grow my business with determination and integrity.
  11. Today I am attracting new customers from unexpected sources!
  12. Today I remember there is more to business than the bottom line!
  13. Knowledge is a commodity. It is innovation and imagination that will set me apart from my competition.
  14. Day by day, I am proving myself to be an expert in my field!
  15. (Your business) is my passion and I know sharing that passion with others brings me success!
  16. Today and every day, my business grows and thrives!
  17. Those who need my services are on their way to using them. I am thankful for the opportunity to serve them.
  18. Today I am molding my business into an unqualified success.
  19. I am flawlessly executing my business plan and I am succeeding brilliantly!
  20. Today my business has more satisfied customers than ever before!
  21. Excellence is my personal brand! My commitment to it is unwavering!
  22. My top-notch vision drives my bottom-line success!
  23. My business is on a roll! This is my breakthrough year!
  24. I am a thought leader in my industry. I’m always innovating for success!
  25. Today I model success with integrity in every business interaction.
  26. The success of my business rests on relationships. Today I am building strong relationships!
  27. Right now I am attracting clients that will be my foundation for growth well into the future.
  28. Today I am building a business that will one day allow me to walk the beaches of the world!
  29. Today my talents and my products combine to create a successful business!
  30. My business succeeds as much as my mind allows. Today I am open and ready for BIG success!
  31. The best business plan I can have is to be totally myself. Today I AM!
  32. My business success is accelerating to heights I only dreamed of.
  33. I am a brilliant, successful business person.

Follow your bliss! Experience your bliss! Become your bliss!

Ray

Ray Davis is the founder of The Affirmation Spot. He’s been studying and practicing personal development for 30 years. He’s also studied many of the world’s spiritual traditions and mythologies.

Find more TAS motivational content.

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Steve Jobs and Bill Gates Give Advice to Entrepreneurs – The Affirmation Spot for

Today’s Affirmation:

I am flawlessly executing my business plan and I am succeeding brilliantly!

Do you have a business or an idea for a business? Wish you could pick the brain of two the most successful entrepreneurs of this generation? I came across this great little exchange of business people asking questions of Bill Gates and Steve Jobs. It only runs about 5 minutes, but there are some good nuggets in here for business and entrepreneurial people.

Stay inspired!

Ray

Tim Sanders on Scarcity – The Affirmation Spot for Thursday June 23, 2009

Ray’s Daily Affirmation:

“I am abundant and more so every day!”
(Choose from 100s mp3 affirmations at The Affirmation Spot)



Speaker and coach Tim Sanders discusses how to overcome the scarcity mindset in the current environment. Scarcity is a sense of insufficiency and lack. It creates fear and doubt. Let your goal today, in your work life and personal life, be to release your scarcity mindset and step into abundance.

Stay inspired!

Ray

2009 Affirmation

“This year I am absolutely committed to being the person I came here to be!”

With Liberty and Justice and Fewer Customers for All

Today’s Affirmation:

“My world is what I make of it and I choose to make it a prosperous place to be.”
(Click the affirmation to hear the mp3 version)

skull_money

There are positives in everything and the current economic and mental environment is no different. However, just as in our individual lives, our collective life must be driven by productive, empowered thoughts followed by committed action if we are to succeed.

Einstein’s famous quote is true here in spades – the level of thinking that got us here will not get us out.

We are in a recession. That’s not a big revelation to the employees who have lost jobs or companies who have seen their stocks tumble in recent months. What is a recession? Well, the technical economic definition is three consecutive quarters of shrinking GDP.

In the old days, recessions use to be called panics. This is probably a more apt term than the sanitized word recession. The word panic indicates human thoughts and human responses to a situation. To be clear, our economy is having a giant panic attack.

Now is the time that the power of our thoughts can be exposed as cause and solution to these issues.

I would argue that recessions are as much psychological as they are economic. I’m not suggesting that some pretty big mistakes (perhaps even corruption) did not occur in our economic structure bring us here. Only that the extent to which we experience the recession has and continues to rely on the thoughts of people and the actions that flow from those thoughts.

Henry Paulson and other leaders since have tossed around words like “recession”, “depression”, and “catastrophe”. We all have images in our minds that correspond to those words and they are not good. So people begin acting in a way that follows the thoughts that have been planted.

Markets didn’t drop 40% in recent months because companies were suddenly worth 40% less than they were before. They dropped because human beings experienced panic and sold, sold, sold.

Credit didn’t dry up because banks (especially after the government bail out) didn’t have funds. They dried up because humans at banks experienced panic that if they loaned money they wouldn’t get it back.

Fewer Customers for All?

The layoffs that are occurring right now are happening because CEOs and CFOs are experiencing panic. They have been taught that they must captain their “ships” to maximum profit at all costs. In a normal situation, that makes perfect sense. The market determines winners and losers and those that don’t succeed retool or go away.

Layoffs happen as a result, but in calm seas those laid off can swim to other “ships”. They can continue to be consumers. All is good.

This environment is different. Corporate leaders must show vision, courage, and thinking beyond the quarterly numbers for their own sake and that of the broader economy.

In the current economic and mental environment, this usually smart business response – cutting labor costs to save – is counterproductive. This is a stormy sea (mentally and financially). As “ships” continue to throw people overboard to save themselves, they forget that all the other “ships” are doing the same thing.

They forget, at their peril, that their own choices magnified across the economy only deepen and worsen the situation – feed the storm and make it stronger. Because while a company sheds employees to save costs, other companies are shedding that company’s customers and potential customers.

This short-sighted approach means fewer customers and potential customers for everyone. It slows possible recovery and deepens the abyss.

When the entire fleet (economy) is experiencing seas like these, enlightened business minds should see that layoffs are not the way to economic survival. They are the way to further collapse.

Corporate leaders need to step up and stop the job carnage now before they decimate their own markets. Will profits drop for a while, if you keep employees? Perhaps. Perhaps not. Employed people make better customers than unemployed people.

What will you tell WALL STREET? Well, I’d say Wall Street isn’t in much of a position to judge anyone right now. Maybe this is an opportunity reverse the business power structure and gain back some ability to make long-term decisions for your company rather than having to “manage by the quarter” for Wall Street analysts.

Minds can and must change.

Working together and with the right mindsets, we can come out of this situation stronger and better. There is much opportunity in all of this. We may see the emergence of new virtual entrepreneurism that makes corporate structures obsolete. This all could be transformation as much as recession.

Regardless, it is our thoughts created this circumstance and they will lead us out of it. The question is how long will it take us to get it?

Stay inspired!

Ray