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Education Past Articles Economy & Home Based Business What Drives Your Economic Engine?
Education Past Articles Economy & Home Based Business What Drives Your Economic Engine?
| What Drives Your Economic Engine? |
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Author Jim Collins writes about what he calls a “Hedgehog Concept” in his book Good to Great. He represents this as the core competency at which an organization can become the best in the world. He said it would be the intersection of several other competencies. Using Collin’s model, let’s look at what could and should be done in this industry. Collins asks three questions: 1. What are you deeply passionate about? 2. What can you be the best in the world at? 3. What drives your economic engine? Let’s dig into these three. What are you passionate about? My passion is currently helping people solve their financial problems by learning to be an entrepreneur, building communities and relationships in order to make a difference in people’s lives. What is yours? Are you passionate about helping people, are you a health expert and enjoy doing research, enjoy cars, learning about wine? What is it? Find what it is and learn how to use it! What can you be the best in the world at? Have you taken a skills inventory? What are you good at? How can you use these skills to help you make increase your income? A friend, Loral Lengemeier, suggests creating a cash machine based on these skills and is the fastest way to cash. Like her, I believe starting a business is the key. In a recent survey by Entrepreneur Magazine, they found the same - people knew that starting a business was a path to wealth. The next part of the survey startled us - it was that most people knew it but were unsure or afraid to start one. One of the safest ways is to start by using the concept of a business incubator having a low cost of entry. We have gone thorough thousands of businesses and are starting to details the results on our Cash FLow Potentials site. But the key is finding the thing that drives you from the first step above - Find Your Passion. It seems that people who chase money only for the sake of money, they find that real money and success keeps eluding them. What drives your economic engine? Is it a job, consulting or some form of residual income from investing? In the information age, it is more important now then ever before to have multiple income streams. Growing up they suggested that I might change jobs three or four times in my career but now some of the experts in that field say it might be closer to seven. What is important is that you have contingency plans so that when things change, and they change rapidly, that you have other sources of income so that you are not stressed, put into a corner and given the time to think of options and alternatives. Unfortunately I hope you are not one of the people that has lived their lives living from pay check to pay check being one step from a potential problem in your life that create a financial spiral putting you close to disaster. Now that is stressful! Why not take some time to plan and work on alternatives? There is a good guide that helps you understand this concept from a business perspective. It is called "The Power of Three" and can be found by doing a search on the internet under "Power of Three by Cash Flow Potentials" or by going to the Cashflowpotentials website and downloading it from their download section. For some The Passion Revolution has begun. People are tired of going to jobs each day that they dislike and offer only poor compensation and uncertainty. They want the respect while still being business professionals and having a life with their families. Find out what drives your economic engine and rid yourself of a stress filled life. Take action today to find whatever it is and start building a plan to never be dependent on one source of income again. About The Author: Andrew Van Valer is a noted real estate investor, author, speaker, coach and CEO of Zyzyrgy.com and writes on a variety of subjects related to finance, debt reduction, personal franchises and home based businesses. |
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