One Decision Separates the Wealthy From the Non-Wealthy
One Decision Separates the Wealthy From the Non-Wealthy
Dr Benjamin Hardy
“Courage can be developed. But it cannot be nurtured in an environment that eliminates all risks, all difficulty, all dangers. It takes considerable courage to work in an environment in which one is compensated according to one’s performance. Most affluent people have courage. What evidence supports this statement? Most affluent people in America are either business owners or employees who are paid on an incentive basis.” — Dr. Thomas Stanley
The problem with most people’s lives is that they are being shielded from the consequences of their behavior. There’s little to no accountability.
The fastest way to make success inevitable in your life is to only do work that is incentive-based. Only do that which you are rewarded and punished for the quality of your work. Everything you do needs to matter to the outcomes, consequences, and results you get in life.
So what is the decision?
The decision is to take complete ownership of every decision in your life. And how you do that is by only doing things in which you are compensated based on performance.
This goes completely against the norms in society. It goes against public education — which shields people from progressing at their own rates. It goes against most job structures, wherein a person is paid an hourly rate or salary.
If you want to make dramatic strides forward, you must only work in environments where the consequences of your actions are immediate and REAL. You need to be demanded by your situation to come up with a result.
This article will show you how:
Are You A Part Of The “Results Economy”?
Founder of the exclusive entrepreneurial coaching platform, Strategic Coach, Dan Sullivan distinguishes between those who are in the “Time-and-Effort Economy” with those who are in the “Results Economy.”
If you’re in the time and effort economy, you are focused on being busy. You actually believe the amount of time and energy you put into something merits praise. Those who are focused on being “busy” are protected in some way from the consequences of their actions.
They’re not being forced by necessity to come up with a solution. Chances are, they are an employee. They are part of a bureaucracy. And they’re striving to follow rules rather than break them.
Conversely, when you are in the results economy, you are only focused on achieving a specific result. You are focused on results because if you don’t get the result, there will be consequences to pay — for you and others.
You’re not worried about your reputation. You’re not worried about following the rules of ridiculous systems which are seeking to make you their slave anyways.
Dr. Thomas Stanley found in his research that those who are paid based on RESULTS are most courageous and also the most wealthy.
You actually have to take risks.
You can’t be sheltered from the consequences of your behavior.
And you certainly can’t be a part of a system which supports “busyness” to maintain the status quo. Hence, Dan Sullivan says:
Entrepreneurs have crossed “the risk line” from the “Time-and-Effort Economy” to the “Results Economy.” For them, there’s no guaranteed income, no one writing them a paycheck every two weeks. They live by their ability to generate opportunity by creating value for their clientele.
Sometimes, they — and you — will put in a lot of time and effort and get no result. Other times, they don’t put in much time and effort and get a big result. The focus for entrepreneurs always has to be on results or there’s no revenue coming in.
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https://www.theladders.com/career-advice/one-decision-separates-the-wealthy-from-the-non-wealthy