James Schramko here, and I want to talk about being empty.
I went to the shops today, and my car had a full tank of fuel. And my car can travel a long way on a full tank of fuel, and I was feeling relaxed and comforted knowing that I can just drive around; it’s stress-free. In the same way that if you pay your tax on time, you’ve got a little bit of money in your account.
You can hand over your credit card to buy something and not wonder if it’s going to clear or not. These are ways that you’ve got a little bit of reserve and it sort of made me reflect that a lot of business owners are coming from a place of the empty tank; the fuel warning light is on, down to the last drop.
It’s stressful. It puts you in a position of compromise and you don’t make great decisions. It means you have to accept bad customers. It means you’re constantly under stress; your adrenal gland is going to fatigue you. It’s not a good way to live.
So, a couple of tips here; one is try and build up a bit of reserve, a little bit of extra fuel in the tank. Pay your tax bills on time. Put a little bit of money in your account. And one way to achieve that might be to spend less than you earn. And a simple way to do that is earn more, and certainly my book, Work Less Make More can help you with that.
The other thing is spend less. Don’t buy things until you can actually afford them. Don’t worry about having things to impress other people. Just focus on your offer that converts. Build a little surplus so that you don’t have to compromise. You can come from a place of calm and confidence and you’ll see that life is much easier when you’ve got some fuel in the tank.
I’m James Schramko. Hope you’ve enjoyed this training.