Five Simple Truths about Six-Figure Incomes

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Posted by The Savvy Retiree on September 27, 2016 in Money Saving Strategies, Personal Finances

Craig Ballantyne writing on financial independence

Let’s be brutally honest. If you’re struggling to hit six-figures in earnings, it’s not because you don’t work hard enough.

You deserve more for all the work you do, right? You get in early, you stay (too) late, you read books, you go to seminars, you follow directions, you get along with others, and yet you just aren’t having the big breakthroughs you desire.

Perhaps your family and friends wonder what’s wrong with you. Or worse, they actually believe you do make a lot of money, leading you to suffer from the Imposter Syndrome.

I know how you feel.

Twelve years ago, I was a full-time personal trainer with wealthy clientele at a boutique gym in Toronto. At the same time, I also had a moderately successful online business. The other trainers at the gym thought I was ‘rich.’

“You make over a hundred grand, right?” one of them asked me between appointments.

I wished.

I was literally working two full-time jobs (training and online) and yet still hadn’t cracked the magical six-figure income level.
But within two years everything changed for me.

The secret of my success was getting expert advice from my mentor who had already achieved exactly what I wanted in my career.

When I hired my coach, my online business soon grew exponentially. I was able to quit my day job as a personal trainer, and I had the freedom to work when I wanted, where I wanted, and on what I wanted.

Getting a mentor who can provide you with expert advice and the success tools you need to grow your income is an essential step in your financial success.

But you need the right mindset. And you must learn how to get out of your own way. That’s right, it’s often our own limiting beliefs that hold us back.

However, it’s not your fault. Our money woes are often a burden placed upon us by people from our past – and present – who told us we wouldn’t amount to anything, who said we were “too foolish to succeed,” or who still tell us today that “you can’t do it.”

From our parents to work colleagues to our online critics, we have a lot of mental obstacles to overcome. But you can do it. You can overcome the critics. You can hit six-figures – and then multiple six-figures – when you follow this plan.

1. More of the same won’t work

If you’re not making as much money as you want, then you must do things differently. For example, earlier this year I shifted out of the fitness industry and into a new business. The pivot has turned out to be a success, but this was only possible when I evolved from what was working in the past. And you can do the same. Making more money requires new skills, a different way of thinking, and connecting with people that make you play up a level in life.

2. Income depends on you and your actions

At some point, you have to realize that you can’t hit six figures simply by following the same schedule you are now. You can’t make $100,000 per year doing $10 an hour tasks. Earning more money requires you spending your time working on your highest value competencies, and that means having better time management, better organizational skills, and a different mindset towards how you spend your days.

3. Resistance is internal

We set too many limits on ourselves, both physical and mental. If you are constantly in reactive mode, checking email, putting out fires, responding to other people’s emergencies, or getting involved in useless workplace drama then you are wasting your time and setting up insurmountable obstacles to your success.

4. Your mindset and beliefs are more important than your skills

It also depends on your celebrity and authority – not your expertise. Don’t go chasing another certification. You know how to get results with your clients. What you need to focus on now is getting more clients, not more tools for your toolbox.

5. Speed is the ultimate factor in reaching six figures

My top students at the Early to Rise University, know this rule better than their competitors. Frankly, it’s the number one thing that sets them apart from all my other success stories. When they see an opportunity, they move fast. Whether it’s taking advantage of a trend in the marketplace or a chance to improve their skills, highly successful people are first in line. They don’t dither. They take advantage of their opportunities and implement even faster.

Those are five simple truths to making six-figures. It really is as simple as that.

When you see a chance to get better, when you spy an opportunity to add more value, take it. Don’t wait. Don’t hesitate.

Editors Note: Craig Ballantyne is the editor of Early to Rise.

Image: © Kilarski