5 Quick Steps to Double Your Wealth Building Efforts

5-quick-steps-todouble-yourwealth-buildingImagine you’re sitting in the stands to witness a competition.  On each side of the arena stands one magnificent, very large, muscular draft horse.  As you notice that each horse is attached to a sled weighted down with 8,000 pounds, you question their ability to pull. Then, on command, each horse, eyeing the other, pulls their attached sled with somewhat exerted effort to the center of the arena.

Then these two separate forces and their sleds are harnessed together.  But, in addition to the 16,000 pounds already on their collective sleds, another 8,000 pounds is added.  Once again, on command, these two spectacular forces move the weight of their combined sleds together in the same direction. Simply by pulling in the same direction two individual forces increase their results by 50% more.

But that’s only the beginning.  Over time as these two forces link themselves in perfect harmony through hours of dedication and training their results become quite amazing as their capacity to pull exceeds 32,000 pounds; double their individual efforts.

Now let’s take this simple “horse sense” lesson and apply it to our wealth building.  Doesn’t it stand to reason that when we harness our efforts with those around us, our results will far outpace anything we can accomplish pulling solo? Yes, I believe even double.

Let me give you 5 Quick Steps to start your “pull team” on the road to doubling your wealth building, right now. Realize that this is the quick start; it’s the beginning.  Just like our example, it requires time to deliver an unstoppable force.

5 Quick Steps to Double Your Wealth Building Efforts! 

1. Decide to start; Now.  Who is it you need to be in complete financial harmony with to double your efforts?  For most of us, it’s our spouse or significant other that is our harness mate.  If you’re single, it’s the person in the mirror you need to be pulling with, not against.  A friend or associate can also provide wisdom to help you direct your efforts in the same direction.
Action: Decide right now to align your financial sled with that special person; go to them and ask them to join you.

2. Name your financial pull team.  This is one of the most overlooked steps for creating wealth. You’ve heard me say it many times that something magical happens when you name your efforts, your personal financial efforts. All of a sudden what seems like a loosely perceived force becomes unstoppable.  My favorite name for a pull team is Team Pinkerton.
Action: Name your pull team

3. Decide on responsibilities.  Even though you are both equally pulling in the same direction each of you have separate responsibilities to the team.  Remember, responsibilities doesn’t equate to ownership.  Ownership is 50/50.
 Action: Decide on individual responsibilities, i.e. checkbook, budgeting, tracking expenses, logging goals, etc.

4.  Make a pact to communicate.  To be a successful pull team you must communicate. Here’s what I’ve found are the “musts”.
Weekly- Once a week, you discuss your weekly financial life activities.
Monthly- Once a month, you meet to review and discuss your monthly budget to actual results.Yes, this requires you to set a budget and compare actual results.
Annually- Towards the end of the year, review your goals and set new goals for the coming year.
Emergency meetings- Agree to call emergency meetings when the need arises.

Action-Pull out the calendar with your pull mate and start filling in the meeting dates.

5.  Define your Financial Life Goal (FLG).  What’s the one wealth building goal you and your financial partner are putting all your efforts towards? Obviously you’ll have numerous short, intermediate and long range goals built into your planning. Your FLG is the one goal your efforts are always pointing and pulling towards.
Action-Write down your Financial Life Goal.

I encourage you to harness up and get in step; and start pulling your wealth building sled towards that goal that for so long seemed like an unobtainable dream.

If you need a little help with your “pulling” check out my website to learn about my 10 simple steps to uncommon wealth.