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Looking For A Business Success Formula? Times It By 10

Is there a mystic formula for Business Success? How are you able to use the "Multiply By Ten" formula to increase the momentum and therefore the success of your own business?

If you blog, try and blog ten times more often per month or even per week; if you create videos, try and put up 10 times as many; if you tweet, tweet ten times more each day.

Offline, if you network, then attempt to go to ten times more events this month, if you cold-call, call 10 times more folk every time and see what happens.

If you make 10 times the effort, then I am willing to bet that you will start to see some Real results!

Nonetheless it won't just be 10 times the results, it's going to be dramatically more results, as the laws of compounding will start to kick in. Every single activity will make a separate momentum of it's own, and that impulse will grow and grow and success will come faster and faster.

The easiest way I can describe this to you in words is by telling you about the small drawing in a book written by Professor Colin Turner, the drawing that changed my life as it showed me how compounding worked, particularly with regards to your financial liberty.

If you take a bit of paper and sketch a line down the left hand side and tag that line "Money" and then sketch a line across the bottom and tag that "Time" so the 2 lines look like the frame of a graph.

Now, about halfway up the Money side line, draw a line that comes out and moves toward the right side of the page. Make that line go up in an exceedingly steady slope, and label that line "Income".

Just beneath where that line started, start another line, moving across to the right, virtually level with the 1st line but not rising in quite such a steep slope. Tag that line "Outgoings".

About halfway across the page, sketch a line connecting the 2 other lines, and put little arrows at each end and label that line "savings/investments"

Final line starts down in the bottom left corner, goes along just above the "Time" line until about halfway across the page when this line should begin to curve sharply up till it crosses the "Outgoings" line. Mark that cross over point in RED PEN and write "Financial Freedom".

Here's the thinking behind this drawing. If you can keep your expenditure lower than your earnings, then the most notable difference between what you earn and what you spend is what you can save initially, prepared to make investments that will themselves get you more money.

It stands to reason, that the larger the opening between revenues and spendings the bigger the amount you can save to invest.

The line that goes along the bottom is the revenue from your investments. The power of compounding (re-investing revenues from your investments into more investments) suggests that, after a set period, your investment earnings grow and finally overtake your outgoings.

This is the point at which you become financially free!

Now again, common sense tells us that, if we are able to earn more and spend less, save to invest more and grow the revenues from our investments, the point at which we become free monetarily will come faster because that small creeping along the final analysis will start to rise faster.

It's the same with business success. It's the same principle. Replace the income label with "Work" and the expenditure label with "Leisure Time" and the arrow in between joining the 2 should now be labelled "Effort" and the creeping line that moves up quickly towards the right should be labelled "Results".

Draw it out for yourself. Do you get the picture? The more work, the less leisure time, the more the effort, the bigger the results in less time.

Assuming
that our business idea is sound to begin with, this being the very first thing to test! Then the more work we do in the beginning, sacrificing our free time, our TELEVISION time, our reading the papers time, our Facebook time even,
will pay dividends re results, even quicker and the following bit of effort expended will build on prior results.

As the work only needs doing once, don't ever forget about it.

One of my coachs calls it "doing the work NOW that no-one else wants to do, to get the results LATER that everybody wants".

Nicola Cairncross is an author, speaker, online entrepreneur and acknowledged expert on how to successfully market your business online. To find more great information on Business Success visit her blog at http://TheBusinessSuccessFactory.com

Sketch turner in...the mai patch!

This entry was posted on Monday, November 21st, 2011 at 1:05 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.