Understand Leverage And Become A Top Entrepreneur
What if you had 9 identical siblings with the same mind and talent? Essentially, yourself only multiplied. My name is Cäsar Jacobson, I’ve always been a person of passion, not necessarily talent, but I did figure out that I can outwork talent to come out on the top.
I was taught, like many of us, to “Get good grades, go to college, and get a good job.” Somewhere along the line I realized that no matter how much I climbed the corporate ladder, or increased my own personal effort, I wasn’t going to create wealth working for someone else. I realized I should be multiplying my efforts in the form of leverage, rather than adding hours to my efforts; this is called ‘Working Smart’.
There are entrepreneurs and there are people who work for entrepreneurs.
Becoming Your Own Boss
In 2012 I nearly went back to University to become an Emergency Surgeon and leave the field of Biotechnology – however – I had many friends that were surgeons/doctors and I noticed they never had free time to spend with their families much less travel. It dawned on me that if you’re not financially set, you rarely (if ever) have any time you’re likely also living with “too much month at the end of your money”.
So how does the average person create a life where they’re their own boss and in control of their own time and still have the ability to create an income larger than a doctor or lawyer? What about a Paediatric cardiologist, with a team of 10, owning their own clinic with a 12 year learning curve? Well, an entrepreneur can make monthly what this cardiologist can make annually. In fact that same entrepreneur may even own the hospital of said Cardiologist – heck, he too could be a surgeon and also be an entrepreneur. I don’t say this to degrade the noble profession of a surgeon, but merely to shed light on what is available to someone if they simply work smart – we are not born knowing what is available to us.
Our vision is limited by our subjective reality, its important that we don’t listen to the opinions of those that aren’t working towards creating the life you want.
Entrepreneur Key To Success – Understanding Leverage and Residual
Quite frankly we need doctors and lawyers, but we also need people to own hospitals and create empires – or even more simply put – how does one even start becoming an entrepreneur and be successful at it?
As an entrepreneur, you often have the ability to work when you want, but that’s equally a problem. As an entrepreneur if we don’t treat the beginning stages with ‘job’ like tasks we won’t necessarily create an income. Many entrepreneurs kid themselves about ‘income producing activities’ and we leave too much money on the table. If we accurately identify income–producing activities, we can more quickly free up time down the road and make money without exchanging time/ hours for dollars.
Highly successful entrepreneurs do not necessarily need to go to university or college to create wealth but they do need to understand Leverage and Residual.
What is leverage – leveraging the time and effort of yourself (and others) while creating a monthly income stream without working hours for dollars. We’ve all heard of Warren Buffet – but did you know he started with putting out one gum–ball machine, returning at the end of the month to collect his quarters – until he had hundreds of gum-ball machines? He did not need to stand next to the machine and encourage pedestrians to place a quarter in the machine in exchange for gum-balls. He had a “system” that worked for him. Eventually he used the pool of funds for a larger business. Fast forward and he is now one of the worlds most brilliant investors. Too many of us are exchanging our time for money – so we only get paid on the efforts of one person rather than of many.
As someone who listened to the norms of society in my earlier years, I had a late start to an entrepreneurial mindset. Yet, early enough to start in my 20’s, now nearly 30 years old, it’s safe to say that in today’s society that’s quite young to essentially grasp the concept of outwitting ‘Corporate America’ ( or other economies containing groups of similar mentality ) and outworking those with more talent.
There are many noble, essential, and rewarding careers that are considered JOBS in today’s society. However, say in the case of our surgeon, what if you were a surgeon who owned your very own surgery center where you profited the time and effort of other surgeons. You’d go to ‘work’ when it was most convenient for you rather than as needed because your income wouldn’t’ depend entirely on your presence to perform work. We should ask ourselves, what if I was unable to attend work for 1 week, 2 weeks, 1 year? Would our job, status, future, and growth be at risk?
We often don’t think far enough ahead because it seems like society trained us to be content with being mediocre. In order to be great we must suffer the loss of social esteem from the financially ignorant; many people know what money is, they just don’t understand how it can work FOR them rather than working FOR it. Money is simply a fiat, its consensus reality, it has value only because everyone agrees it has value and unfortunately many of us are slaves to money instead of having money work for us in a way that is life changing.
Now, as the following may appear to be off topic, it’s very much related – now – I am not religious, BUT I do have Faith and believe in our Lord and Savior, Jesus Christ, and as the Bible says “A righteous man leaves an inheritance to his children’s children” – A rich man has money, a wealthy man has both time and money, a righteous man has time and money passed down like a baton for future generations. Whether you’re one of faith, or not, the Bible unarguably has systematic steps in how to create a successful future. I also don’t believe people should use the bible as a crutch to remain average, and not challenge themselves, as I have seen some do.
I have seen people live by the belief that they “only desire to give, with no desire to create an income”, it’s important not to convince ourselves that creating an income is frowned upon, if you wish to ‘give’ – then understand this, the MORE we are able to make, the MORE we are able to give due to the TIME and MONEY freedom available to us. I believe it’s selfish to remain average, I also believe it’s selfish to believe that ‘self made millionaires’ exist – millionaires and billionaires have teams that helped them reach the pinnacle and the truly wealthy ones have helped others to create wealth or an understanding of ‘self’ by investing in themselves and in others.
Many don’t understand how true wealth is created; they believe that saving money and getting a good job will create it. But then “wealthy”, I find, is subjective – because what $500.00 is to one perhaps, is like $5.00 to another. We should have the ability to save or invest far more than we are spending. However, when we have a job this is nearly impossible.
This brings me to the point that all highly successful entrepreneurs have multiple streams of income – hopefully working for them in different time zones in multiple economies. I once, too, believed I had to show up to work at 9 am, or I wouldn’t get paid, and with a job that bears true. But entrepreneurship requires sacrifice and hard work in the very beginning, short-term sacrifice creating long term gain. There are many books I often suggest for entrepreneurs, as we need to exercise and feed our brain. One book called The Richest Man In Babylon is a book most suited to this blog, it teaches someone who is exchanging time and money to pay himself 1/10 that of which he’s made, and over time invest saved funds into a business after receiving advice from people deemed worthy of advice in the industry they wish to invest in. One step at a time, with patience yet rigorous consistency and action we find ourselves climbing up a ladder that is only controlled by the extent of our vision.
Many of us play God when judging other people. “he’s just a baker”, “he has no education”, “he’s a doorman at Walmart” or the opposite “he’s too successful to see my opportunity” or “he has too much money, he wouldn’t be interested in tacking on another endeavour” – quite frankly I’ve witnessed more millionaires come from NOTHING or no education, than from money or substantial educational background.
Furthermore, the more success one has attained, the quicker they understand future businesses presented to them. My degree has no correlation to my knowledge of how money works, or where I learned to create money. Oprah Winfrey grew up in poverty; she’s been homeless, abused and now, she’s a global icon. Bryant McGill, once morbidly obese, homeless, bullied; now a Best Selling Author, Speaker, Coach, Thought Leader, & Social Entrepreneur; another profound global icon. Or how about Nick Vujicic? A motivational speaker born with Tetra-Amelia Syndrome, a rare disorder characterized by the absence of all four limbs, yet profound career, beautiful wife and children. These three came from nothing or were equipped on what appears to many to be a ‘lesser playing field’
So what are we asking ourselves? Can we do it, or HOW can we do it?
– Cäsar Jacobson
If we lack the vision to see what an individual is capable of, we also lack the ability to become our best selves. The poor often have a ‘hunger’ for more, this is not always true – but it’s extremely important to remove your judgment. There are some businesses that, upon hiring, have the need to sift through applicants to find the one best suited. But remember, some of the best CEOs were started at minimum wage and through loyalty and hard work climbed the corporate ladder. However, often these individuals soon realize they could have had more time, money, and freedom creating their own system that worked for them rather than against them in the form of leverage and residual rather than by salaries and bonuses.
During my early to mid twenties, I competed in Pageants to better my social skills and stage presence, and eventually won the title of Miss Canada 2013; the key here is that I had to lose several pageants, in order to win a national title. There were times I was too scared to get on stage, a time when I forgot my own name due to stage fright, a time when they forgot I was even IN the pageant competition because I never made a bold enough effort to make myself known due to the lack of self-confidence.
Over the years, I started to realize that I needed to be the pink elephant. A pink elephant is someone who knows they’re different, so why try and fit in? So I started becoming unapologetically myself. Some will talk, some will gossip, some will de-edify; It’s part of becoming great, you have to understand that you cannot please everyone. If your goal is to please everyone, you cannot drastically benefit the life of another in business or personally.
Just like the Pink Elephant, whether we realize it or not, attention is currency; we must be bold with our efforts in order to be great, confidence without egotism and the desire to always be learning – gains you humility and wisdom in all that you do. Grant Cardone says, “if I can get half the world to hate me, the other half will pay me”
We must make sacrifices, we must always be willing to learn, we must get uncomfortable, and understand that we will always have time to create change or start a business. Mainly, when we set goals, we have to be honest with ourselves about these goals – if we do not take the actions towards the goals we subconsciously lose respect for ourselves and eventually our self esteem goes with that. The average person sleeps 56 hours a week, 35 hours a week are spent eating, showering, and traveling – 40 hours are spent working – leaving 37 hours to start or better an entrepreneurial endeavour outside of their current schedule.
Remember, you’re uniquely designed in a way nobody else is, or ever will be again! You must discover your own inner greatness and own it. It’s something internal that you project into the world not something that you can copy or reflect from others. You can however learn from mentors, we all stand on the shoulders of those who have gone before. Embrace your very best selves and run with it! Then anything you do will be authentic, it will be the very best of you and you will naturally become your own brand; and that has power. Never fear failure, failure is inevitable on the road to victory, fear never trying. You may also refer to a blog I am releasing called ‘The Things Financially Successful People Do Differently, And What they Won’t Teach In School’