I recently had the opportunity of studying the cd program from James Arthur Ray called, “Million Dollar Mindset.” James is a best selling author who appeared in the feature film, “The Secret” and has written several best selling books and lectures all over the world on how to achieve “Harmonic Wealth.”
At Aspen Commercial Lending, we are always working to help small businesses succeed. We have found that often we can help you succeed by structuring debt, getting a new working capital loan, and that is usually temporary. That’s why we started this page. Save the link and look for our posts weekly. What we post here will help you grow as a business owner, and when you grow as a business owner, your business will grow.
Let’s start with something I thought was incredibly eye opening and when analyzing our customers I found that they didn’t consider this concept prior to opening their business. Lot’s of authors talk about having Multiple Sources of Income. James Ray talks about it in a little different way in his program, “Million Dollar Mindset.” He said that there are three strategies for earning money, and here they are for you:
- Trading time for money.
- Money earning money.
- Leveraging yourself through others.
“The first strategy says that we trade time for money. Trading time for money is what approximately 96% of our population does. This is someone who has a salary. They go to work and are essentially trading 40, 50, 60 hours a week for a set salary. Ninety-six percent of the population does this, and yet it’s the worst way — in fact, it’s almost next to impossible — to amass wealth. With a strategy 1 approach, you have only one source of income.”
He goes on to talk about having one sources of income is like a diving board at the pool. It has one point of contact that holds it, if something happens to that one point of contact, the board falls into the pool. Most of the businesses that we work with on a daily basis have this same issue, the majority, or all, of their income comes from one source. This source usually requires them to show up to work in order for them to get paid. This is setting your company up for failure.
For more information on the “Million Dollar Mindset” and how to create Multiple Sources of Income in your business, we suggest you take a look at this program by James Arthur Ray.