T. Harv Ecker has one of my favorite all time quotes that I try to live by every day. He
says,
“How you do anything is how you do everything!”
A simple quote, but so, so powerful!
When I first read this book my team was just hitting the million-dollar
level and I could see the possibility for everyone on the team to truly prosper in selling at least $2500 a month. When they sold $2500 a month in our company, their commission was 40% so everyone was earning $1,000 a month.
This $2500 became the benchmark sales for our team. I offered some fabulous incentives around this benchmark and
we focused on holding SIX parties a month to easily hit the $2500 level holding FOUR $625 parties a month. But, after reading “Secrets of the Millionaire Mind” we discovered a unique way to manage the money earned from the profits of selling $2500 or more a month.
T. Harv Ecker says, “the single biggest difference between financial success and financial
failure is how well you manage your money. Managing your money allows you to eventually create financial freedom.”
Your direct sales business is your vehicle to creating financial freedom! When you create a consistent income every month that is designed to help you pay off debts, save for a special fund like college
or travel, or invest in a retirement account, you are managing your money to create financial freedom.
T. Harv Ecker suggests you open 6 accounts.
1. Your FINANCIAL FREEDOM account. He suggest you put 10% of every
dollar you receive (after taxes) into this fund. This money is only to be used for investments. When do you get to spend this money? NEVER! It is never spent—only invested.
2. Create a FINANCIAL FREEDOM JAR in your home and deposit money into it every day. It could be loose change, $1, $5, $10. The amount doesn’t matter.. The HABIT
does! The secret is you’re placing “daily” attention on managing your money.
3. Create a ‘PLAY ACCOUNT.” Harv says, “you have to have balance in your life.” He suggests you put 10% into your “play” account every month and you HAVE to spend it!
5. Put 50% into a NECESSITIES account. Yes, half of what you earn is necessary for you and your family! This is a good rule to live by and know that you’re contributing to the family budget every month with this percentage.
6.
Put 10% into a “GIVE” ACCOUNT. This could also be part of a tithe for your church or supporting a needy child, or your company sponsored philanthropic program.
Don’t wait because you think you don’t have enough money. Start very small. You don’t have to earn a fortune to get rich. If you manage your money with this program, you can
become financially free on a small income!
Here’s how $1,000 income you earn every month from selling $2,500 (or more) a month would look like
- $100 to your Financial Freedom
account
- $100 - $3.33 per day into your Financial Freedom Jar.
- $100 to BLOW or “Must” spend account
- $100 to your Education account
- $500 to spend on necessities added to the family budget
- $100 to give to your favorite
charity/church
We all worry about having enough money to pay the bills, or feed the family. But what you learn from this book are “Millionaire Mind Actions.” After every chapter, Harv says,
“Touch your head and say… I have a millionaire mind!”
and he shares two or three actions to take to help you change your mindset about money and how to accumulate wealth.
You might think right now your small
home-based direct sales business is far away from generating thousands of dollars of income every month, but if you begin to understand the opportunity you have to grow a larger and strong income every month, you’ll realize you are actually sitting on a gold mine to be smart about managing ALL the money you earn from holding parties and having fun in your own business.
Bottom line, reading this book is a fantastic exercise to think about the value your business brings to you and your family!
If you haven’t read this book, pick it up very soon and get your mindset ready to earn big and save big in the coming new year.
