Understanding This Made Me Rich

When striving for increased profitability, I like to look at it from a perspective of receiving. I want to receive as much as possible, so that I can give as much as possible. Recognize that one is not possible without the other, and you need to receive something first in order to give it. Power of 64 - Make productivity a prime focus of your career or passion. Look to increase your efficiency, effectiveness, and statistical success whenever possible. Buy Low and Sell High - Create a profit margin in order to become more profitable, its a straightforward approach. The key here is not to waste too much time or energy trying to buy at the lowest point and sell at the highest point. Pre-Sell - Consider how you might be able to use your skills, knowledge, and desire in order to broker a deal for others and create additional profit with less effort. Identify Your Timing and Risk Tolerance - Be clear (and reasonable) with the investments you make, taking into account how much risk you are willing to take and when you expect returns on that investment. Take Emotions Out of Spending - Have a plan for the profits you make and stick to it. It can be helpful to predetermine percentages ahead of time for how the money will be spent (or invested), taking emotion out of the equation. Save and Then Save Some More - Make sure that when you are predetermining what you are spending, you are also planning for savings. Referral Agreement - Another way to make a profit with minimal effort comes from effective use of referral agreements. When you are making profitable introductions for others, ensure that you have a system in place to be compensated fairly. Tweet me your takeaway from today’s episode @davidmeltzer  Email Me! david@dmeltzer.com Sign up for my Free Weekly Training https://free.dmeltzer.com/friday-training-1 Text Me! (949) 298-2905  Learn more about your ad choices. Visit podcastchoices.com/adchoices