Successful entrepreneurs have self-discipline with the use of money.
The power of money allows you to facilitate the exchange process of goods and services. It is the heart of your business and Vision. Any plan or strategy without money or budget is dead. You need money to drive your project. If you have money and use it strategically, you have an excellent chance to be successful.
“Any good business person applies financial discipline to everything they do. The movie business is and should be no different; I don’t believe you have to sacrifice creativity to have business success. To the contrary, great art requires discipline.”
Paula Wagner | America Film Producer
The Creative Power of Self-Discipline with Money
The power of money allows you to facilitate the exchange process of goods and services. The power of self-discipline allows you to apply consciousness of practicing self-control of your behavior to adhere to best practices in the use of money. It is the power that enables you to commit your mind and act to use money strategically. Without having self-discipline with money, you may fail to build your success regardless of how much money you have in your control.
Money is not only a medium of exchange but a strategic resource. Since it is a vital resource, you must adhere to the best practices to use money wisely to build your success. Most ordinary people do not adhere to the best rules on the use of money. Those who adhere to the rules, use the same amount of money to make themselves successful. Having a clear understanding of the power of money will help you adhere to the best self-discipline practices with the use of money.
Facts about Self Discipline with Money
With years of experience in my business and by reading the history of successful people, I have discovered two important facts about money:
Value any amount of money you earn or spend
You must value any amount of money you earn or spend to create your success to build your fortune. If you value a small amount of money, you will definitely value a large amount of money you earn or spend. But if you don’t appreciate a small amount of money, you will definitely not value the large amount of money you receive or spend.
Practice self-discipline with any amount of money you earn or spend
You must practice self-discipline with any value or amount of money you earn or spend to build your success. If you value self-discipline in a small amount of money, you will definitely have the self-discipline for the significant amount of money you make or spend. But, if you don’t value self-discipline for a small amount of money, you will definitely not have the self-discipline for the significant amount of money you make or spend.
Money and Investment Formula
Self-Discipline with the use of money is a broad area covering best practices such as setting priorities, planning, investing, spending money, and saving. This book is focusing on planning and the use of money in investment. There are different money-use formulas that can help you to use your money strategically and build your success. You can use the 10% to 50% or 50/50 money use formula.
- Under the 10% to 50%, you invest from 10% to 50% of the money you receive as revenue.
- Under the 50/50 formula, spend less than what you invest. Invest 50% of the amount of money you receive as revenue. Practices 50/50 will help you to invest more in your Vision to build your success. Use the 50/50 formula for any value or amount of money you receive, whether big or small. Don’t save money rather, invest every cent you can spare.
You can also create a vision board for your financial goal to keep your passion burning as you see it every day. It will allow you to apply conscious and subconscious to practice self-control of your behavior to adhere to best practices with the use of money.
How to boost and practice Self Discipline with Money
An Entrepreneur can use the following steps and techniques to boost his or her self-discipline with money use.
Step 1. Create your Vision and financial goal board
Create your Vision and financial goal board. Place it securely in your bedroom. Take a picture of the board and save it on the screen of your mobile phone or computer where you can easily see it every day. Read, visualize, and meditate every day to keep the passion burning until you make it.
Step 2. Prepare your financial plan
Prepare your business plan daily, weekly, monthly, and yearly. Your daily financial plan should be prepared one day before implementing it by adhering to the 10% to 50% or 50/50 money investment formula. Follow this formula to use any amount or value of money. Read, visualize, and meditate on your work plan in the night and put it into action the next day.
Step 3. Meditate and visualize
Use the power of meditation and visualization to activate the picture of your Vision and financial plan. Practice more to access wisdom from your soul and spirit guides to keep your passion burning. Write any new insights you get from visualization and meditation.
Step 4. Practice positive affirmation
Use the power of affirmation to create what you want with the power of your words. Do it every day in the morning, afternoon, and evening to make what you wish for money. What amount of money do you want? How do you use your money to generate more money? Write any new insight you get from affirmation.
Step 5. Work hard by following your daily financial plan
Take responsibility and work hard by tracking your daily business plan. Work hard, work hard, and work smart, by following your daily financial plan.
Step 6. Conduct daily review
Conduct a self-review every day by answering the following questions:
- Do I use money according to my plan and budget?
- What percentage of funds were invested in my Venture?
- What do I need to maintain or improve to adhere to the plan and budget?
Write answers and take action to improve until you make it.
Step 7. Favorable environment
Stay in the presence of the right successful people and friends with a positive mindset. Use the right success resources, including books, videos, and other publications to learn more about the best practices in money use.
Source: 3 x 7 x 21 Success Formula