We’ve all worked jobs we hated. We were underpaid, underappreciated and bored out of our minds. We either quit these jobs or were fired for poor performance because we just gave up. Instead of taking that approach you need to consider every job an opportunity to learn something new that you can apply down the line to find success.

When you give people the tools they need to come up with unordinary solutions, you are enhancing their lives for the long run. You need to take this approach. What if one of your terrible jobs had been one with no pay at all and you needed to come up with some ingenious ways of making money? I bet you could have found a diamond in that rough. This idea can also be used in your own company.

I don’t recommend going into the next meeting declaring that no one will receive pay anymore, but you can tell them that their potential raises, bonuses and other perks are now dependent on their creativity in ways to enhance business.

Let’s talk about a great concept called financial literacy. This certainly isn’t something they taught you in school but is still essential to know. So, what is financial literacy?

The old school way teaches people to be good employees and not employers. This mindset will never make you wealthy. You need to focus on becoming a good employer. You also need to learn how to not only attain wealth but sustain wealth for generations. This is what financial literacy is all about.

So, how do you get out of the rat race and start working toward a wealthier future? You need to understand the difference between an asset and a liability.

Take a look at your own life and you’ll probably find the following:

Assets

• Real Estate
• Stocks
• Bonds
• Intellectual Property

Liabilities

• Mortgage
• Consumer Loans
• Credit Cards

You’ve probably been fooled into thinking things like your house, car and entertainment system are assets. They aren’t! Assets should be continuing to MAKE you money. When you continue to struggle, you are not building wealth. If your primary income is from wages and each time you make more money you pay taxes, you’re not really creating wealth either, are you?

So, if buying a house isn’t an asset (and it’s not because you spend about 30 years of your life paying it off), then what is? Here are some of the best assets to attain and when you can start to actually see wealth being created because of it:

Average time of holding on to an asset before selling it for a higher value:

1 Year

• Stocks (Startups and small companies are good investments)
• Bonds
• Mutual Funds

7 Years

• Real Estate
• Notes (IOUs)
• Royalties on Intellectual Property
• Valuables that produce income or appreciate

So, here are the steps to getting out of the rat race and onto your journey of creating wealth:

1. Understand the difference between an asset and a liability.
2. Concentrate your efforts on buying income-earning assets.
3. Focus on keeping liabilities and expenses at a minimum.
4. Mind your own business.

If you need help getting out of the poor mindset and into the wealthy one, try our FREE test drive and work with one of our experienced business coaches today.

We went through the first three and next time we’ll talk about how to mind your own business to keep your eye on the prize.

In the last post we talked about how to conduct word of mouth research and then put that research to work. Today we’re going to give you some great tried and true ways to use word of mouth when building and executing your campaign.

We’ve done it in a list form, so you can go through and highlight the ones you want to put into action. These are offered by George Silverman which you can find in his amazing book The Secrets of Word of Mouth Marketing.

Here they are:

• Give them something worth talking about
• Cater to your initial customers shamelessly
• Give them incentives to engage in word of mouth
• Ask them to tell their friends
• The customer is always right
• Always tell the truth
• Surprise the customers by giving them a little more than they expected
• Give them a reason to buy, make them come back and refuse service from anyone else other than you
• Make eye contact, and smile, even through the telephone
• Find ways to make doing business with you a little better: a warmer greeting, a cleaner floor, nicer lighting, a better shopping bag, extra matches, faster service, free delivery, lower prices, more selection.
• Never be annoyed when a customer asks you to change a large bill even if he doesn’t buy anything.
• The customer is your reason for being. Never take her for granted. If you do, she will never come back, and will go straight to your competition.
• Always dust off items, but never let the customer see you doing it.
• Never embarrass a customer, especially by making him feel ignorant.
• Never answer a question coming from a desire to show how smart you are. Answer with a desire to help the customer make the best decision.
• Never shout across the store, “How much are these condoms?” or anything about the personal items a customer is buying.
• When you don’t know, say so. Do whatever you can to find out the answer.
• Every customer is special. Try to remember their names.
• Don’t allow known shoplifters into the store.
• Don’t ever let two sales staff talk when a customer is waiting. The worst thing you can do is count your cash while a customer is waiting.
• If you can suggest something better, they will be grateful. Always respect their choice.
• Never pressure anyone into buying anything.
• Never knowingly give bad advice. Just help people come to the right decision.
• Personally visit the store of the competition or assign people to visit and report back to you.
• Hire a shopping service to prepare periodic reports on how your people are treating your customers.
• If you hear of a store where the management is insulting the customers, buy it, then put up the sign “Under New Management” outside. Then sell it later based on the increased sales.
• One expert (in the drugstore’s case, a nurse or physician) who is convinced you are better brings hundreds of customers and their friends through word of mouth.
• Always look for ways to make a stranger a customer.
• People will walk several blocks to save a dollar, or see a smile, or be treated right.
• Always run a sale promotion or an offbeat event. Make them come back to see what you are cooking up next.
• Use the best sign-maker you can find and pay him more than anybody else.
• If someone is mad at you, they will tell everyone who will listen for as long as they are angry, maybe even longer. So correct any dissatisfaction, and ask customers to send their friends.
• Treat your employees and salespeople who sell to you the same way you treat your customers.
• Have a zero-error system. There may be terrible consequences for example, if a mistake is made filling a prescription. Have people check each other’s work for safety.
• Occasionally make intentional mistakes to see if people are checking.
• Always measure your performance.
• Always ask a customer to “come back soon”
• If customers say they are moving away, offer to send them their favorite items by mail.
• Tell jokes.

I know this is a lot of information to digest so we’re going to wrap up this lesson and leave you with the homework of going through and taking a look at the tips and tricks you like best. Also, look for tips that fit your company, products, services and target customers for the most effectiveness.

If you need help with this process, try our FREE test drive and get all the help you need from our experience business coaches.