Picking up on the last success marketing strategy: this is why I harp on the idea that your business should be something you extract money from, not put or leave money in. (A principle I wish I’d grasped sooner in life.)
So you get to the point where your stack of what Ringer calls “no-touchies” is high enough you have absolutely zero economic need to work, and you are in what Brody called “the safe harbor position.” Then the work you do gets to be a lot more fun. You get to be a lot more selective. And anytime you like, you can just stop.
(To be fair, stopping is not easy. Surprisingly hard. For many reasons. Obligations and entanglements, your own emotions, habit-force. Etc.)
If you aspire to this sooner not later, then there are some important points I often make.
- You have to sacrifice being an Empire Builder. Empire Builders re-invest virtually all into their businesses and extract little.
- You have to determine what your enough-is-enough number is, get there, and secure it.
- You have to keep from escalating lifestyle to match income. Simply put, you must live as far below your means as you are willing, so you move as much as possible to “no touchies.” If you keep buying bigger and bigger houses to live in and furnish, pricier and pricier cars to drive, more and more depreciating possessions, you can never stop. If you actually care about having all your income coming in effortlessly, it cannot come from business – it must come from investments.
Until you hit that point, you’re gonna work. The distinct difference between me and, hopefully, you, vs. the overwhelming majority of people, including business owners, in the dark and clueless about our kind of marketing, our entrepreneurial strategies, is (only) that we have a lot more choice in the type of work we do, how, where and when we do the work., and with whom we associate in doing it.
For example, few salespeople, professionals or business owners get to (believe they can) choose, train and control their customers or clients. We know we can. We can do different work and work differently. We can find smarter, more efficient, more leveragable ways to bring value to market. We can raise expertise and prominence so as to be paid much more for the work we do.
But we ought never seek to avoid work and get unearned income. Get over this foolish, juvenile desire to avoid work. It’s not worthy of aspiration, it’s nothing to brag about.
Any attempt to get something for nothing – even when temporarily successful – invites all manner of tragedy. It is immoral, unethical, in defiance of fundamental universal law.
In selling a proposition, there is advertising or poetic license in language like “easy” and “effortless” and “automatic”. It’s even legal. In advertising, it is called “puffery” – that’s what permits patently ridiculous assertions like “brighter than bright, whiter than white.” I write such stuff, on average, 3 hours a day, 1,000 hours each year (when I work ). But these terms are relative and subjective, not to be taken literally.
In buying a proposition, you are expected to be smarter than that. If you have ever done real manual labor for low wages as I have, then you know that, by comparison, lots of things are “more effort-less”. But if you are a grown-up rational thinker, you know nothing is literally effortless. Not even sleep. Your heart and lungs better be working.