I’ve always said that the fastest and most effective way to become great at anything, is to model, study, and learn from those who are in the position you want to be.
For anyone who wants to get rich, a great person to model is someone who is already rich, yes or yes?
However, there can be a very, very big problem with this.
When you look at someone who has ALREADY made their fortune, they are doing things much differently now than when they were not multi-millionaires yet and still working their way up.
Most of my students see a lot of wealthy people that are involved in multiple businesses and have many different incomes and think, “Well, if they have it, then so should I.” True or true?
NO, WRONG!
Having multiple streams of ACTIVE income is NOT what you should do…
Want to hear why?
Before I explain, watch my video below to hear a quick story about how I made this common mistake (that cost me BIG time) by trying to have multiple streams of income BEFORE I got rich, so you can avoid the same mistakes I made.
This video is a sneak peek of my FREE web class, “Zero To MultiMillionaire.”
Click here to learn more about it.
Two Reasons Why Most Aspiring Millionaires Never Make It
As I mentioned in the video, I was clueless in business and personal development at the time. I didn’t know what I was doing to myself…
I was chasing after every opportunity because of two reasons that end up being huge pitfalls to a lot of would-be entrepreneurs:
1. Wanting to make money faster
In terms of making money faster, let’s just put this reality check into perspective: It takes every bit of energy and focus you have for you to succeed in any one thing.
Your first million dollars ain’t happening overnight. That might work for a lucky few, but not for most. For most self-made millionaires, success isn’t a sprint, it’s a marathon. Seemingly “overnight successes” are almost always people who have been working day in and day out for years before they made it big.
That’s not to say there’s anything wrong with wanting to achieve maximum results with as little effort as possible.
In fact, this is something you can learn in my free signature web class,
“Zero To MultiMillionaire.”
2. Wanting a backup
I wanted a “backup” in case what I was doing didn’t work. In my mind, I thought that if I had more than one business it would be “safer” — it would assure me of some kind of success because I’d always have something to fall back on.
The truth is, when you overextend yourself by trying to have too many things going on, you end up not being able to succeed in ANY of them.
Here’s the deal, and I’ll reiterate this because it’s important:
It takes an enormous amount of energy to get something going, especially at the beginning.
If you don’t use 100% of your energy to get something off the ground, you’re not going to make it over the chasm. You’re going to fall into it.
If you don’t use 100% of your energy to get something off the ground, you’re not going to make it over the chasm. You’re going to fall into it. Share on XHere’s The Rule: Focus, Focus Focus!
Many people ask me: “Harv, what about multiple streams of income?”
That’s a great idea only after you have one stream going beautifully. Yes, rich people are diversified… but only once they are rich! You don’t get rich by being diversified, you get rich by being focused.
It’s hard enough to be successful at any one thing. Do you think you could be successful at two or five things all at once? Are you kidding me? I can’t.
Focus on the part that is going to make you rich, leave everything else UNTIL you succeed.
I learned the hard way, so hopefully, you won’t make the same mistake I did. Don’t fall into this trap! I see it every day and wish I someone told me this 30 years ago.
Which is why I created a signature FREE web class to help you do exactly that. It’s called:
Zero To MultiMillionaire:
“The Ultimate Business Success Formula”
I’ll be teaching 6 proven principles that helped me go from broke to rich, and I’m certain they can do the same for you.
In this class, you’ll learn:
- The unique character traits 90% of ALL self-made millionaires have in common, and how you can have them too
- How to identify and eliminate the things you might be doing that are preventing you from success
- Specific business strategies that will actually produce LONG-TERM wealth in your life
- And much, much more!
Click here to register and select a date and time that works best for you. See you there!
Does any of this sound familiar to you? Is your focus spread between multiple businesses or opportunities? What’s keeping you from making a choice and sticking with just one?
Leave us a comment below, we’d love to hear from you!
For Your Freedom,
UP NEXT:
5 Simple Steps To Generate Million-Dollar Business Ideas
I see focus in two different ways, The first way or route to take is this one FOCUS (Fix On Christ Unlimited Supplies), without this route the other way to stay focused is most of the time harder than any route you ever will take. Since I start to follow Harv many years ago, I lost some businesses too, because my focus was totally out of focus. I try to run a few at a time and believe me, it is not possible if you are the main “gong” in your business because you will mess up everything completely because you as a human only have one pair of hands, feet, ears, and eyes and only 24 hours a day and if you don’t have the correct people in your business that can take the responsibilities over from you, disaster is staring you in the face.
I had to learn to commit and keep my focus on only one business and to develop me myself and not the business.
Thanks, Harv for all the learning material and the knowledge I could learn over the last 10 plus years, although I’m not where I suppose to be yet I’m positioning myself every day to achieve my goals.
Blessings
Christo
Hi Mr.harv
I strongly believe that I can be rich and do whatever ot takes to make it real. But the only problem that I have is that I don’t know where to start !! What kind of project that I want to do or kind of services that I can provide toother people. I am a student now. I’m doing my master degree majoring in engineering. but I’m pretty sure that s not what ´s going to make me become rich workinf as engineer is not what will make me becme financially free. So this is my probleme in choosing what’s best for me at least and idea from where i could start. I’m 23 years old I’ve been thnking of this since I was a little kid and I really feel lost but I know that once I get an idea ? I will not give it up. Please help me
Hi Soukaina,I am not an expert though I would like to help you.I thank GOD that you are very young and being educated.Well that aqll sounds fantastic.
You did mention that you had a passion while you were small kid,it will be wonderful if you could find out what you are good at and love to do.
Finish your degrees and I mean further your studies as a PhD in Engineering and maybe persue a teaching career.
Well my Dear,heres what I can help with for now and I am sure Mr.Ecker is an Expert in Business and Finance and he will be appropriate to guide you.
Have fun and GOD bless you and your future endeavors.
Your Truly.Rob.
Hi Soukiana, one habit that is essential to start is your FFA (financial freedom account). Have you seen the information on the jar system? That way even when you “don’t know” you are “putting away” for the opportunity when it arises…… or that Jar will eventually build into the financial freedom!! Either way you are guaranteeing your success through habit. Google Harv Eker Jar System, lots of Video’s about it. Good Luck
Thank you for this amazing post Harv! I totally agree with you that it’s important to FOCUS, FOCUS, FOCOS on one thing and be really good at it. In addition, Detach yourself to your emotions of making money fast since there’s no such thing quick route to richness. We really need to work harder and harder and harder.
Thank you again for this amazing post and have a great day Harv. GOD Bless!
What do you focus on? I believe the clarity of what you desire in the twelve areas of life is first. Then picking the foundational goals and then having one overriding goal. Here we are talking money and career areas of life. We also have to look at lifestyle, habits, practices and the rhythms we incorporate to keep the FOCUS.
mONEY COMES FROM PROVIDING VALUE TO LOTS OF PEOPLE, So if we focus on what value we can provide to others we are rich. you have to be rich, = have something of value to get money, a method of exchanging value an saving value.
MAJORITY OF THE PEOPLE:
Don’t understand how money works
Earn low rates of return and pay too much tax
live from paycheck to paycheck
live on the edge
Spend not save
caught in the high interest debt trap
retire in poverty
MINORITY OF THE PEOPLE:
Plans for future
Put their money to work for them
have their money professionally manage
have emergency fund to shield from financial storm
HOW WE SPEND OUR MONEY MATTERS!
I have a businedd that I am fosucing on but it sure gets hard sometimes with the planning and the managing of it. But it is finally get to the point to where now I can see some light at the end of the tunnel. I am determined to stay focused on this one thing until I master it and become the best at it. I am reading your book now, and it is very helpful and enlightening. I am finally learning how to manage the money that I am making, which I think was a BIG Problem for me. I’m loving the mason jar idea. Thank you Mr. Harv for all your advice and webinairs they are truly helpful and enlightening.
You’ve identified my biggest problem- focus!!! You see Harv, I have ADD and besides that I have a horrible short term memory. If you asked me what I did two days ago I can’t tell you. So every morning I have to get up, focus on what needs to be done and work on getting it accomplished , except that I spread out into so many activities that many times I come to the end of the day or end of the week and I haven’t accomplished the most important thing. The hardest thing for me to do is Time-blocking. I just can’t seem to sit down at the same time every day and make the business calls I need to make. I have too many other things I’m doing for and in my business and when I get to the end of the week my weekly report is empty. Shameful! So I need to stay focused on my ONE business, and I need to stay focused on my ONE money-making activity of my business, and do it every day consistently.
Nice reminder!
I used to have a thought of getting successful in many fields and it made me to be distracted and not focus on what I was doing.
Now, that I’ve learnt that focus on one thing is a great way to be successful in everything I do, I always practice it in every aspect of my life and it gives me better results in everything I pursue.
Thank you Harv for the post!