Episode 27: Three Must-Have Abundance Assets For Life & Business
Do you wish you could create abundance in your life? As we begin a new year, many of us have been taking the time to dream up our goals and make plans for 2022. I want to show you how to achieve those goals and create abundance through the things you already have.
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What Is An Abundance Asset?
I talk a lot about assets when I’m teaching business. I often emphasize how important it is to create and have assets in your business. So, I like to define an asset as a resource with value. They give you a positive return on your investment. Usually, when we think about assets, most of us are trained to think about them financially. We consider them something we can invest money into.
For example, when you look at a balance sheet, you’ll look at assets versus liabilities. Assets produce income and money, while liabilities cost us money. But when you think about assets in your life, you should broaden your view. Step back and look at assets not only as where you put your money, but rather resources around you. If you do this exercise, you’ll quickly realize that money is only one of them.
I truly believe the most important assets that you as a business owner possess are your brain, your time, and your money. You'll notice that I haven’t even included material possessions or the “normal” revenue-producing assets in this conversation. We’re not going to talk about those today. While this isn’t a financial lesson, it will still help your finances! Stick with me here…
Before we get into this, I want you to know that the way these investments should happen is from the bottom up. This means that you should be investing your money into creating more time, which is more valuable than money. Then you should be investing your time and your money into your brain to make your brain more valuable.
Your Brain Is An Abundance Asset
The reason why I put this as number one is because without your brain, you have nothing. If the brain isn’t working, you don’t have any time. Time doesn’t matter. Time doesn’t exist! Without your brain, you certainly don’t need or have use for any money. This is why your brain is your most important asset. Because it is, by far, the thing that will give you the highest return on your investments.
Now that we are beginning a new year, I want you to stop and ask yourself, what can you do to make your brain even more valuable?
Increase your knowledge.
The more knowledge that you have in your brain, the more valuable it becomes. Another way is you can teach yourself skills. The more skills you have in your brain, the more valuable your brain is.
Grow your skills.
When you grow your skillset, you are giving your brain more tools. These tools can help you in every area of your life.
Manage your thoughts
if you have the skill of managing your thoughts, you have the skill to produce the fuel for action. When you manage your thoughts, you are able to produce the emotions that drive action. You also have the ability to eliminate or downgrade any emotion that isn’t producing action. More importantly, you can recognize and eliminate an emotion that is producing an undesirable action.
Grow your ingenuity.
Another way to increase the value of your brain brain is through creating new ideas, new concepts, new things, or new inventions. All things of value in the world today were created by the brain. Right now, I honestly want you to evaluate, how much time and energy have you consciously put into investing in your brain? I’m talking about time and energy to think about what you think about. I’m also talking about money. How much money have you invested in increasing the value of your brain?
Money Is An Abundance Asset
You already know this one, right? But a lot of people will make the argument with me that, money is more valuable than your brain. Instead of spending money to learn new things, they think you should keep your money. They feel that having money is more important than increasing your knowledge. But here’s the thing that I believe and I want you to consider: When your brain has the knowledge to make money, then you don’t need to hoard the money you already have.
A lot of times, people will say, “You need money to make money.” But that’s not 100% true. Because if you have the knowledge and the skill of how to make money in your brain, then you can start from zero and still make money. The true issue here stems from not managing your emotions through the process of making money.
Here’s where those thought management skills come into play. Entrepreneurs often fail at recognizing the emotions and feelings that get into our way. Because of this, we quickly think we have a strategy problem. In reality, we have thought management issues. Entrepreneurship is the sum equation of strategy + mindset management in action.
This year, I want you to be aware of when your feelings are getting in your way. You can do this by recognizing the patterns that happen when you’re thriving in business and when you're not. Those patterns should indicate what state of emotion you were in when you generated a certain result. What I truly desire for those I work with is to empower them to learn how to manage their thoughts, and to learn how to process each emotion and to not make that emotion mean anything personal.
So the question becomes, can you make money more valuable? You can make money grow, but can you make money more valuable? You probably can. Here is how I would navigate this issue:
- I could invest my money into something that makes me more money.
- I could invest my money in something that helps create more time.
- I could also invest my money in my brain, which would also get me a more valuable brain, which is our most valuable asset.
Basically when I think of these suggestions, I am basically investing money in money. Invest money in something that produces more money. So how would I make more money? I would proactively invest this money into a resource that will teach me how to make more money and learn a skill that I don’t have. It could be to invest in real estate, the process of investing and being a successful investor, or another way to make my money more valuable.
Time Is An Abundance Asset
At this point, some of you may be thinking, “Okay, sure, your brain is more important than money, but what about time?” First of all, you have to remember that if you don’t have a brain, then you don’t have time. Often, people want to talk about time management. In this conversation, they also want to talk about how important it is to manage your time as a separate asset.
I absolutely agree that time is one of the most important things you can have. And while all of these assets need to be managed, time is easiest to manage. It’s managing your brain to follow through on what you’ve told yourself to do with your time that is challenging.
If it was simply a matter of managing our time, we would always do the thing that we said we were going to do. Productivity is only an issue when we don’t follow through. But when we procrastinate and aren’t focused, we aren’t using our brains. So I think that brain-management is the most important investment you will ever make in your life.
Brain management is the time you spend with your brain. A big part of managing your brain to create more time involves the money you spend investing in your brain. You have to grow your knowledge, skills, and management. Because of this, I invest money into growing my brain, and then I use my brain to grow my time. In turn, this grows my money! This is also the order I followed to create the results I have in a short amount of time. Talk about quantum leaping,
So how can you make time more valuable? I think that most of us would agree that time is the asset of human life. It is all we have, and it is limited. That’s what makes it so valuable. Time in our life is the limited asset we have. It is how long we have to live, do the things, and experience what we want to experience.
So the question becomes, can you create more time? Now, literally, the answer is no, you can’t create more minutes. But you can create more value within the time that you do have. You can also make each minute more valuable by using your brain and your money to invest in managing your time. So, when you think about time being the most valuable thing that you have, I want you to also think about how much time and energy and money and brain power you put into planning your time. Make sure that you are a good steward of your time.
How I Grew My Assets
I simply invested in a money mindset mentor who literally showed me how to manage my mind. He also showed me how to package and sell high ticket offers. Through that process, he taught me how to navigate the “head trash” that would show up. Once I learned that, I was able to use this investment over and over again. For those of you who work with me, we talk about the Millionaire mindset first. This is what I focused on for a whole year. I paid an investment of $60K, but your girl didn’t have this money seated somewhere. Instead, I swiped my first credit card and did monthly payments. Then, I learned how to use my brain to create offers and monetize my skill.
What is it that you can do this year? How can you invest in your brain? What skills do you need to learn? I challenge you to take note of that and go and invest in that. The biggest investment that always has the largest ROI is an investment in YOU!
This is a game-changer, my friends. I’ve never articulated it or understood how to teach it quite this way.
Sit down with yourself and ask yourself,
- How are you investing your money?
- How are you investing your time?
- And, how are you investing in your brain?
And if you aren’t heavy on the brain in terms of that investment, that will explain why the other two aren’t as abundant as you want them to be. No matter what happens with your money, no matter what happens with your time, your number one investment should always be in your brain. The more money you have, the more time you have. This gives you more to invest in your brain. Ultimately, the more you invest in your brain, the more money and time you will have.
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