Understanding The Principles Part 1
Today we have a very special edition of the Rise Up & Live Free podcast. In this episode, Brad will be covering the principles. He is definitely the guy for the job. Brad has studied economics, accounting, and statistics and spent time on wall streets, taken companies public, and managed hedge funds.
Brad is the renaissance man of money, and well, he loves it! We say this with boldness because it’s not coming from a place of egocentrism. What he really loves is what money represents for him and the life it allows him to build. We’re taking this episode to explain why you should understand and love money so that you can make the investments that truly matter.
The reality is, investing is easy as long as you know the principles. You have to first realize that you are not your business. This episode is not going to cover the specific tactics that you should do.
Because tactics can be dangerous if you don’t understand the principles. Once you have those down the tactics become incredibly clear. Our goal is to help you increase your financial IQ and become empowered around the conversation of money.
“Tactics are like scissors to a four-year-old if we’re missing what comes before.”- Bradley Gibb
The First Principles to Understand
Everything you think you know about money is wrong. At some point, you’ve been disillusioned with the status quo. Maybe it was as a student, or perhaps it happened while trudging day after day in a cubicle. Whenever that moment happened to you, I’m sure you came to the same conclusion the rest of us did. This just couldn’t be it. There had to be more.
Maybe after a while of not fitting in, you did something about it. You made a change and finally had a surplus of income you could get comfortable with. But here’s the catch. You were probably told to put it towards retirement.
You have to stop trying to hand over your money so someone else can take care of it. Control over your finances means you are the driver. The idea of giving your money to another business (which you know nothing about) is insanity.
The first thing to understand is that you literally have a superpower. If you’ve made a dollar in your business, online, etc. that’s not someone writing you a paycheck than you have a skillset better than anyone on Wall Street. You can literally make money. They cannot.
This is where the gift of personal development comes in. Your business only grows at the rate of your willingness to grow.
Give Yourself Permission to Accept This Principle
“You literally have a superpower”- Bradley Gibb
You are your greatest asset, and your business is your greatest investment. The places you need to be investing in are your mindsets, your skillsets, and your networks. If you don’t have the results you want, then you lack in one of those three areas.
Inside your business, there are three areas that you need to look at as far as investing. It is your marketing, your processes, and your people. Here’s the truth, the skillsets that make you a great entrepreneur are the same ones that make you terrible at managing money.
The real problem entrepreneurs face is that they are hunted by a wolf they cannot see. If we lack the skillset to create certainty and abundance, then this wolf will always hunt us. Making more money does not cure this, but changing our skillset does.
Your business is on its way to irrelevance. The stats don’t lie. The majority of the top-earning businesses weren’t around a decade ago. It is an ever-changing market, so what do you do?
You have to start keeping the money that you make.
Remember, you are the most important person in your business. You are in charge. You set the rules. Start with factoring in what you need to run your lifestyle. You need to get paid first.
We’re continuing this conversation next week, but in the meantime, connect with us over on our Cashflow Tactics Facebook Group. We’re a community of people dedicated to becoming financially free. And if that sounds like you too, then join us!