To Spend More, First Make More

Jack Canfield's Success Principle #60

If we're going to overcome as survivors of abuse or trauma, we must work hard to first provide for our basic needs. When we're no longer worrying about physical or financial survival, we can focus on learning ways to thrive emotionally and spiritually.

Jack believes that there are two ways to have more: spend less on mundane things to save for what we want; or earn more to begin with. I think that doing both is a good idea.

Figure out how to make more money.
Before we can begin making more money, we must set a goal that spells out exactly how much we need. Remember, we must have goals that we turn into affirmations on index cards or in a goals book if we want to achieve our dreams.

Jack provides five ideas for making more money, as follows:

1) Become an intrapraneur.
By definition, an intrapraneur is an entrepreneur who gets hired by his or her own company to fill a niche that the company can't. Obviously, to do this, we must first be employed.

In my opinion, following this tactic of becoming an intrapraneur would more likely net us a nice raise or a promotion, rather than a new stream of income. We would have a better chance if we figured out what our company isn't doing well and then start our own entrepreneurship to fill that need.

2) Find a need and fill it.
Thomas Edison said, "I find out what the world needs, then I proceed to invent." There are unmet needs all around us, and if we're creative, we can find ways to make money from them.

When I was studying interior design, I kept hearing from everyone in the business, "Good luck finding someone to make window treatments!" At that time, there were very few drapery workrooms and few choices in ready-mades.

I decided to specialize in window treatment design by opening my own drapery workroom. Word got out that I could design and fabricate custom window treatments, so designers began hiring me to handle tasks that most of them knew little about. They were relieved, and I was making great money doing something that I loved.

We can look around and think about something that needs to be provided, solved, addressed or eliminated. Our aging population and single parents have needs that go unmet every day. If we ask what's missing, we will find a way to make people's lives easier or more fulfilling.

3) Think outside the box.
Sometimes there's a need that is partially being met, but we can think of ways to do it better. If we think outside the box, we can come up with solutions that pay off great benefits.

When my son was in public school, he was not learning as one would expect. By the time he got to fifth grade, he could barely read. I spent a fortune on private schools for a few years, but I wasn't seeing much improvement.

Twenty years ago, home schooling was considered radical. In the state where we lived, it was barely legal. Considering home schooling was outside-of-the-box thinking, but I finally decided that it was what my son needed.

Within a year, he was reading at the level of an eleventh-grader. While I wasn't getting rich through home schooling, the benefits were outstanding. I saved a lot of tution money that was being wasted, and my son grew up knowing how to learn.

We can all see ways of improving things if we look around us. There are gaps in services everywhere, and by thinking outside the box, we can make or save money by doing things better.

4) Start a business on the Internet.
In today's market, anyone can start up a small business on the Internet, even if they've already got a job. We can fill the needs of very narrow markets by reaching millions of shoppers worldwide.

I recently set up an internet business to sell quilts. With the help of the Small Business Development Center director, I managed to get myself online within about a week. It cost me $25 for a vendor's license and a few hundred dollars worth of materials.

You can see the results of my Internet efforts by looking online at www.etsy.com/shop/hopequiltsofohio. For help with your own business set-up, go to www.sba.gov/sbdc.

5) Join a network marketing company.
There are thousands of companies that sell their products through network marketing. I've been involved in several of them, without great success. I do believe it's possible to make a good deal of money this way by selling vitamins, cosmetics, and so on; but I don't believe I was very good at it, because it wasn't my purpose. Unless we feel passionate about what we're selling, we can't usually sustain the effort.

Ecclesiastes 5:18 (NIV) reads, Then I realized that it is good and proper for a man to eat and drink, and to find satisfaction in his toilsome labor under the sun druing the few days of life God has given him--for this is his lot. If we're going to choose extra work for ourselves, we should make sure it's something we enjoy.

Create multiple sources of income.
Of all the advice on financial success in this book, I believe this is the smartest tip. Too many of us have placed all of our faith in our jobs. When we get laid off, our health fails, or our job gets eliminated, where does that leave us? If we have multiple sources of income, we can create economic security.

While building multiple sources of income, it's important to look for business opportunities that require very little time and money. No matter what we decide to do, our extra work must match our purpose if we want to succeed at it.

Today's Challenge
Brainstorm ways to earn more income, using Jack's five suggestions above. Write them down and begin exploring the one or two that feel right for you. Remember to pursue the ideas that are in alignment with your purpose.

Jack Canfield, America's #1 Success Coach, is founder of the billion-dollar book brand Chicken Soup for the Soul© and a leading authority on Peak Performance and Life Success. If you're ready to jump-start your life, make more money, and have more fun and joy in all that you do, get your FREE success tips from Jack Canfield now at: www.FreeSuccessStrategies.com