On Wednesdays, I host a group coaching call for my students enrolled in my 12-week business transformation course. Yesterday we covered the important distinctions between:
Investing vs. Saving
Cost vs. expenses
Profit vs. Revenue
Profit vs. Gross profit
Good Debt vs. Bad Debt
ROI vs. ROE
Price vs. Value
Expense vs. Cost
Income vs. Wealth
If I were to quiz you … would you be able to easily and quickly distinguish between these terms? Would you know the distinct differences and how they are played out in Business and Financial Life?
When it comes to money (lots of it) all of these distinctions are important (so if you don’t know them offhand, as a Money Coach I say “get to studying!”) but it’s the last distinction that I would like to call to your attention here.
Where I see the vast majority of micro-business owners making the biggest financial mistake (that inevitably comes out to bite them between the age of 45-55) is falling victim to the popular belief of:
My business is going to make me wealthy.
If you are (consciously or subconsciously) grinding it out in your business waiting for the day when all of that hard work will “pay off” I’m here to tell you — that’s the path to burnout with little to no “wealth” having been built and accumulated. You’ll wake up at some point thinking — “where did all the money go?” or “I’ve worked so hard, why don’t I have more?” or “why after all these years of working on my business, I’m still paycheck to paycheck with little to no financial surplus or stability?”
It’s a Financial Myth that your business will make you wealthy. Period.
So, if that’s the Truth — the obvious question would be… “Krisstina, if it’s not through my business, then how the hell do I build wealth?”
What a great question!
First — You have to know the difference between Income and Wealth. Once you know that — you’ll quickly understand for yourself why your business isn’t your wealth.
After that — you have to understand Wealth as a distinction then, accordingly, go about building it.
I could continue on and turn this into a very long BLOG about the key elements, strategies, and skills of Wealth Creation. But, if I did, you probably wouldn’t read it anyway — I mean who has time to read these days? So instead — I’m going to TEACH my Wealth Building strategy that has made me a multi-millionaire (on my personal balance sheet ← Real Wealth).
If you’d like to learn my Wealth Creation Strategy through Real Estate Investing, Join me in The Sovereignty Academy CAMPUS for a 90-minute KW Talk w/Q&A. Although I interview many real estate investors on my Wealthy Wellthy Podcast and feature other experts — for the FIRST TIME EVER, I’ll be sharing my own personal strategy that is just that, personal.
This is NOT a public event. It’s for CAMPUS members ONLY. So, if you are not a member yet, now’s the time to join. Ante up for a big win called, in money terms, high ROI.
Add your questions or comments below. I’ll be happy to share more about The Campus or what I’ll be teaching on November 30th. 3:00CT.
**Note: If you are reading this after the date above, don’t worry 🙂 You can still join the Campus! I highly encourage you to do so.**
Here’s to (real) Wealth and Abundance,
P.S. If you are a CAMPUS member, all you need to do is RSVP.
If you are not a CAMPUS member yet, now’s your time to join! I don’t think you’ll want to miss this event. Membership Details are here. Sign up. It’s the best investment you can make. As opposed to other subscriptions — this one will make you money!
P.P.S. For fun, take a look at some before and after of recent (wealth building) projects.