I’ve been a Business Consultant for twenty-five years teaching accountants and helping business owners make more money. My real focus, though, is not on the accounting industry, but on small business owners and how they can turn their operations into a cash cow OR how they can increase their income by ten-fold.
Don’t think that’s possible? You know it actually can be done. I went through this drill as a little practice set with a strategic coach a few years ago in Canada. He sat down and said, “You can increase your business ten-fold.” At first I thought, “Not possible”.
He went on to say, “How much did you make the first month you had your own business or your own job”? I thought back to when I was 12 years old, shoveling sidewalks where I made about $12 a month. He asked domino99 me again, “How old were you when you multiplied that to over $100 a month?” I replied, “When I was 16, four years later, I started my first business-an auto detailing shop, and brought in over $100.00 per month.”
“How old were you when you multiplied that by ten-fold, and were making over a thousand a month?” I was 21, when I started selling life insurance making cold calls on the phone. Nobody else was using telemarketing in that industry at that time, so I was really making good money. He then looked at me, “How old were you when you multiplied that by ten-fold?” I answered, “It went from a thousand a month to ten thousand when I was about 33 years old, when I started working as a Business Consultant for Accountants.
I became a Business Consultant after we went broke with our furniture business. This may seem like an unlikely transition, and you may be asking, “What can I learn from someone who failed”? BUT, that failure caused me to spend years researching why our business was forced into bankruptcy. I learned it could have been prevented if I had gotten good information from our accountant on a regular basis, with a detailed explanation of what the numbers meant.
There was no usable data that pointed out that the business was actually a lot weaker than I thought it was. We did not have accurate numbers at our fingertips daily, or a good understanding of what our numbers meant. We were not basing important business decisions on accurate data and it caused us to go right out of business. My wife and I were sleeping in a car with a four-month old huddled between us as we were trying to keep her warm. It shouldn’t have been like that.
Right at that moment, I decided our future was to teach businesses how to avoid the mistakes we had made and I dedicated the rest of my life to becoming a relentless student of best business practices.
When I began this venture, my income jumped ten-fold, to over ten thousand a month. That was when qiuqiu online I was 33 years old. This one simple exercise gave me the awareness that, “My goodness! I do know how to increase my income ten-fold”.
By the time I was 47, we were doing QuickBooks? seminars. We were teaching accountants and business owners all over the world how to use QuickBooks. Consequently we jumped ten-fold again, to over a hundred thousand a month. I looked back at everything that happened to me and said, “Wow that is quite an accomplishment- from $10 to $100, $1,000, $10,000, $100,000.” Now the next big question was, “KC, when are you going to hit a million per month?”
Well, I’m working on it right now. Maybe it will come in another five to six years, but I’m shooting for it right now. I would love to see myself making a million dollars a month. I would like you to make that kind of money as well. But for today, let’s settle on making $1000 a day net profit or $365,000 a year. That’s how much it takes to be in the top one percent of all the income-makers in America.
I hope you come back every few days to listen in and leave comments or questions on the next couple of blogs, as I continue to give you some specific tips on why we don’t get rich, what kind of things we can do to get rich, and why it is a lot more fun to be rich than it is to be poor.
I’ve got a poor sister, and I can’t figure out why she’s poor. She is smarter and actually a better talker than me. Yet she’s not rich. I keep calling her up and saying, “Honey, why not try the principles I’ve been explaining to you?” She says, “Oh, I might, but it’s a little scary. It might not work,” as if what she’s doing now is working.
We are going to talk about these things in the next couple of blogs, especially on how you can get rich with your business. I hope you can join me.