3 Steps To Creating a Seven Figure Business with 5% of the Effort

One of the biggest questions I get from entrepreneurs is, “How can I create a seven figure business without killing myself?”  There seems to be this misconception among aspiring millionaires that they must work longer hours, and do the plethora of tasks they hate.

In this post I’m going to show you how I increased my income by 1,109% in less than 6 months, while cutting my workload by over 90%. After implementing these 3 steps, I freed up over 7 hours a day to do the things that truly inspire me. And it’s at that point that exponential growth becomes almost effortless.

Thanks to this new way of doing business, I was able to accomplished more on this two-hour cruise around Sydney Harbor in Australia than I used to get done in a month!

I recently gave a talk titled “Top Down Productivity – Eliminating the Bullshit from your day“. Today I’m giving you the top 3 things you could put into your daily routine that could literally take you from wherever you are today, to a point of total freedom to do what you want, when you want, with whom you want.

Step 1 – Write Out Your Life Mantra

Before you dig into the income producing stuff, you need to take a few minutes to figure out why you’re doing what you’re doing. This is similar to “finding your purpose”, but this gives you something practical that you can use every day.

Assuming you live with no financial, geographical, or time restrictions, what do you want to experience every day? This is much deeper than surface-level materialistic things. This could be a state of mind or feeling you get when you do something that really turns you on.

My life manta is as follows:

“I live with gratitude all the time. I have an eagle eye focus on achieving my goals, while enjoying every step in the process and being thankful for every moment. I live with no stones in my shoes.”

In other words, it doesn’t matter what I’m doing or the situations I’m going through, I can always turn inward to being grateful. After all, you could have billions in the bank or all the time in the world, but if you’re not grateful, then none of that matters.

It’s important to note that your life mantra should be written in the present tense. This isn’t something you hope, wish or dream for in the future; it’s something you live today.

Step 2 – Determine Your Top Profit Generating Activities

“Work, work, work. If I work just a little bit harder, then I’ll reach my goal.” This is the typical mindset of an entrepreneur spinning his or her wheels. Some people think if they only work a little longer, smarter, or harder they’ll achieve their goals.

But it doesn’t matter how hard you work if you’re doing the wrong things. The highest performing (and often the wealthiest) entrepreneurs I know really only do one or two things throughout the day. Seriously, I suggest that there’s an indirect relationship between the amount of work someone does and the amount of money they make. For example, Richard Branson once said that he only spends about 15 minutes a day “working in or on his business”.

The real magic happens when you start doing what you’re programmed to do the best. Some people, myself included, are great at implementing visions, but hate tracking the small details to bring a project to completion. Where others, like my Operations Manager, are great at tracking and managing details crucial to finishing a project. On the other hand, you have people that hate details and high-level thinking, but have a knack for connecting the right people.

My buddy David Gonzalez, co-founder of the Austin Internet Marketing Party, recommended an awesome Wealth Survey to me a few weeks ago. For about $100, you can take a test that gives you a 30-page breakdown of what wealth building activities will yield you the highest result. It also shows you who you should align yourself with to do all the other tasks in which you’re not predisposed to excel.

According to this test, there are only 8 ways to generate wealth. Instead of trying to copy the actions of other successful entrepreneurs, this test tells you exactly where you should aim your focus and effort. Even more importantly, it tells you what you shouldn’t waste your time doing. It’s like that old saying that goes, “Focus on increasing your strengths, not trying to improve your weaknesses”.

If you want to take the wealth survey, click Dave’s affiliate link here to show him some love for sharing this with us.

Step 3 – List and Track Your Big Active Projects

Now that you know the top one or two activities that will deliver the biggest profits and personal fulfillment, it’s time to brainstorm a few things that you can start working on that will produce huge results. Just as the title says, these are “big active projects” that will require many actions, and may require the help from different people.

For example, one of my biggest active projects right now is developing a mental training program for high-performers in skill-focused activities like trading, sports, or professional speaking. There’s no way I could complete this project on my own. In fact, I’ve partnered with two other trainers who have extensive knowledge on the cognitive mental structures of high performers. And as a creator, my role in this project is to take the high-level vision and design the business systems. I don’t need to be involved in every aspect of the project. If I was a control freak and felt like I had to do everything, it would create massive bottlenecks that would drag out the completion date, if not kill the project all together.

The Ultimate Secret to Becoming a Millionaire in a Fraction of the Time

There’s something I remind myself of every day – “Things usually take twice as long and cost twice as much, so bust your ass to control the controllable and forget about everything else”. Even though I’m only in my mid-20′s, that idea has probably saved me from a few mental breakdowns and gray hairs. It’s also given me the power to persevere through times where it seemed like there was no hope. In fact, it’s when I break through those pivotal moments that I see the greatest progress.

If you want to get on the fast track to earning seven figures while living your dream lifestyle, then simply start by doing the following:

1. Write out your life mantra
2. Discover your one or two top income producing activities
3. List out and track your big active projects

You probably won’t be able to just quit doing everything you don’t like today, but the first step is becoming aware of the things that will generate the biggest results for you. From there, you can start working to eliminate or delegate everything that you shouldn’t be doing. And if you push to spend the majority of your time on your top income producing activities, you’ll see greater progress in six months that you’d see in 10 years just trying to “work” your way through life.

Got questions or comments? Connect with me by popping in a comment below!

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