Fast Track To Wealth – Part 2

Fast Track To Wealth – Part 2

June 29th, 2016 // 1:53 pm @

Fast Track To Wealth – Part 2

Last week we talked about the power of price and the role profit plays in your ability to fast track your wealth.

In simple terms, you spend less than you make, personally. In business, the same applies but it is more complicated because you have to invest in the business, in your people, in your systems and most importantly in your customers.

This is something most do not do – ever.

That is why price links to profitability, because the value you extract from each and every customer is what determines how much you can reinvest in (and still profit from) the relationship.

Of course every business has a threshold of overhead that has to be achieved before you make any money – but – when factoring in price you must have a “profit” per customer, service, program, transaction, relationship that you can count on.

This way you have a controllable math problem. For every customer paying this price, I get to add more money to profit in these increments and therefore I am able to accelerate both my investment into creating more of these customers and turning more dollars over into wealth.

There is another factor that is a substantial leverage point to growth and profitability when you are wanting to accelerate your wealth.

That is your ability to condense time – the distance between a point of contact and money – the space between today and cash-flow – the effort, complication and delay from when you begin a project or initiative and its resulting in money.

If there were a one-two punch to fast tracking wealth in addition to the price it would be how effective you are at condensing time.

Let me explain, in most businesses customers buy when the customer is ready; in other words the business has no control over its own outcomes and it can’t predict or rely on what is going to happen or when.

This is not a good wealth building strategy.

You want to have control over the customers’ decisions by deliberately and methodically shortening the time between first point of contact and money.

The key way to do that is through trust building and structure in the intake and engagement process from lead into prospect into sales process.

Once you have this fixed and you can condense the time from marketing to money, you will be able to reliably turn cash-flow into profit. For most every business, your bills and overhead repeat every 30 days, so your ability to turn profit every 30 days from your efforts and customer flow is critical to fast tracking wealth.

The next component of condensing time is how you invest into getting more customers, creating more profit and expanding your income streams and opportunities so you start seeing more icing on the cake, as I like to call it.

If you focus on condensing time and maximizing profit, you will then be ready for the ultimate wealth building concept and one that will alter the way you look at your business.

This is what I call the art of acceleration. I have shared it here once before but never in the way that I’m going to talk about it next week. It is very simple – life is short – you must learn to better utilize your time and all the resources you have access to within your time, life, and business.

In order to get more out of every day, week, month and year, is through the art of acceleration. If you have no control over this then you have no control of pretty much anything in your business. It is unpredictable and inconsistent and that is no way to build wealth.

I will help you break the link between time and money, between effort and growth when we reconvene here next week. Now we will put all of this together and master the art of acceleration.

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