This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.
My question is around raising our “need line.” I’ve heard you say we always get what we need, and we have to raise our need line first before we can significantly increase our income. What I need to make is $35K a month. But my goal (what I want) is to make $100K a month.
Back when you picked your goal of making $50K a month, what were you planning to spend the money on? Did you do anything to raise your need line, so that you HAD to make $50K a month? Did you back-engineer to get to that number?
Great question. I don’t think there was anything specific that I needed to spend that money on.
At that point in time, I had already moved beyond the idea of spending money on a specific thing. My focus was on bootstrapping my business, so I needed more money in general to advance the company.
I was doing a tremendous amount of traveling, and it was all first class. I needed to expand my team and hire the people who I needed to hire.
I also needed a larger amount of money consistently, so that I wasn’t chasing as many sales on a regular basis. I was spending all my time on the phone, making sales, and it still wasn’t enough at the end of the month. It didn’t matter how many hours I spent making calls—I still didn’t have enough money at the end of the month. So I needed to balance that more in my life and my business.
I was like, “This is insane. I’ve got to change this.” The change came from needing to leverage how much I was actually making per sale, so that I had more to work with.
I didn’t back-engineer to get to my goal of $50K a month. I just picked that number because it was a simple idea of turning my annual income into a monthly income. I really wanted to make that quantum leap. Bob Proctor is the one who put that idea into my head.
One of the cool things about turning your annual income into a monthly income is, it’s already working within an established belief system.
You already believe you can make that amount of money—you’re changing the timeframe in which you earn that money.
You already have the belief that you can make your income annually. Why is that important? Because most of us don’t have negative connotations when it comes to time, not like we do with money. So we’re not changing the belief around the money; we already believe we can earn it.
We’re changing the belief around the timeframe in which we earn it, which is a big difference. And that allows people to make that quantum leap much easier.
P.S. Whenever you're ready… here are 3 ways I can help you grow YOUR business:
- Listen to The Successful Mind Podcast. Three times per week I drop cutting edge information and strategies relating to success mindset, leadership, wealth creation, and relationships.
- Join other like-minded small business owners in my Transformation Facebook Group! Allow us to be a place to share ideas, get advice, and meet others who value truth and growth!
- Join me at The Art of Success Virtual Summit! This October 2021, I'm getting a group of amazing business owners together for 3 days to work on exponentially growing their business.