7 Steps to Empowered Wealth: Part 2

As you discovered in part one of 7 steps to empowered wealth, there’s more to wealth than simply having money. It’s about empowering yourself to have the wealth you want to enjoy your ageless lifestyle after 50.

Last week we covered these first three steps to empowered wealth:

Step One:

You must discover your passion, create a vision for your life and then develop product from the topic you are passionate about.

Step Two:

You must develop a wealth attitude to be open to being wealthy and ready to receive large amounts of money when it comes to you.

Step Three:

Become an expert in your field.

Let’s continue now with the other four steps to complete the process.

Step Four: Production

Become a master of product creation. When you’re looking at what form of delivery you want to use for your products, there are 3 factors you want to consider.

1. What is the sales price you will charge
2. What is your production cost as a percentage of sales price
3. What is your closing percentage

These factors allow you to determine how many people you need to talk to for you to sell the amount of product needed to reach your financial goal.

You can easily create a 2-day seminar or an 8 video/audio program in a weekend with some easy to follow steps for creating product. For instance, you can write down 10 topics you want to cover about your subject and interview experts on those topics by phone, email, Skype or Google Hangout. If each interview is an hour, you have 8 hours of content without even starting on the content you will add yourself.

Step Five: Wealth Practices

There are ten wealth practices and characteristics used by multimillionaires to first create the wealth they have attained, and then build on it, that you must develop:

1. Spiritual foundation
2. High self-esteem
3. Consistently reading books and listening to audio programs
4. Continued education through attending seminars
5. Have mentors to speed your growth process
6. Mastermind group to brainstorm with
7. Positive thoughts about yourself and the world
8. Commitment to live your life to its fullest
9. Turning dreams into goals with a plan
10. Step fully into your power

Step Six: Sales

Become a master communicator to create a sales machine. The secret to becoming a master communicator is how you have the conversation. Let me give you the definition of conversation, if you haven’t looked it up lately.

Conversation: an oral exchange of sentiments, observations, opinions or ideas. The key is exchange. A conversation involves at least 2 people actively participating. In many sales situations there is only one person talking.

I know sales is one of those love/hate things. When the topic of sales comes up your initial reaction is either, yippee! or yuk! Not much in between. Even though sales is very exciting to me, I know that for most people it’s something they avoid like the plague.

But, let me ask you something. What’s the difference in how you feel after making a 2-hour presentation to a client and a 2-hour conversation with a friend? One leaves you drained while the other leaves you energized, right? It’s not about who you’re talking to, it’s about how you’re doing it. Too much selling and too much talking leaves you drained because you’re not having a conversation.

When you leave with more energy than you started with it’s because of how the conversation was handled on many different levels. You can achieve this level of communication with anyone.

Whether you are a teacher, attorney, network marketer, speaker, author, expert, a parent or a spouse; you’re in sales. All day long you are involved in one situation after another where you are trying to get to yes with someone. Whether you’re talking to clients, co-workers,  working on getting marketing or networking; in every situation you have a desired outcome that leads to yes for you.

The deciding factor in whether you can get to yes without selling or not in each of those situations is the way you have the conversation. No tricks involved. Straightforward conversation.

Step Seven: Education

Learn the specific wealth principles multimillionaires use to get that way and stay that way. Continuing education is the key here. Wealthy people are continually learning. They read constantly, they listen to educational CD’s and podcasts in their car. They attend seminars. They network and build their sphere of influence. They acquire the tools they will need to build their business and their life before they need them, so they are prepared when opportunities arise. They have a plan for their life that they take action on daily.

It’s important that you have a savings program and an investment program. It’s up to you what rate of return you will get based on what rate you are willing to spend the time and money to learn to get. You have a choice if you put your money in the bank at 1-3% or if you will be consistently getting 15-25% return. Wealthy people spend the time and money required to build their fortune and then preserve it and have their money work for them.

Now that you have the 7 steps to empowered wealth, it’s time to set your goals and get started creating your plan to achieve them as part of your ageless lifestyle after 50. I would recommend you check out the Ageless Lifestyle Guide to Goal Setting and Achieving.