He was flat broke at 25, until he met an extraordinary Teacher…
The Teacher was Earl Shoaff.
The Student was Jim Rohn.
Jim himself then went on to be a world class teacher and business coach, producing protege students like Tony Robbins.
I learned many life-changing financial philosophies from Jim Rohn. When I first heard his principle, “Work full time on your job, part time on your fortune”, it had an immediate effect on both my mind, and my finances.
This principle allows you to build a financial wall around you and your family, providing freedom for your future, with the option to decide either to stay in your job because you love it, or focus on scaling your part-time enterprise to eventually ‘Fire your boss’.
In my definition, success is having Time and Money Freedom. I know that if I stay in a Job for 10 years or more, it’s impossible to achieve either of those, plus I’m burning my time, and not paying any attention to building my future security.
For example, if you’re an engineer, look for engineers 10 or 20 years ahead of you, do they have time and money freedom? or still, they need to wake up early and to work for 8 hours every day? I know an engineer who has time and money freedom but he’s the owner of the company.
And I know getting started on your own business part-time is one potential path to creating freedom in your future life. We all know that being in business is very challenging unless you have established the skills and mindset of an entrepreneur.
The Good news is that in today’s generation, working on your fortune part time is available, and you can even keep your job to pay for your daily expenses while working part time for your future dreams.
More and more people are searching for ways to escape the 9-5 rat race. Automation is going to have a major impact on the labor market and the structure and future of work.
Work used to be a fairly settled affair. You would finish school and get a job. Most people would stay in that same job for 10, 20 years and sometimes even for life. Our parents and especially Grandparents held very different values relating to work and career. After 25 years service at one or two companies, they shuffle into retirement by being awarded a watch! (Which is a weird gift since office clock-watching is no longer their concern).
But today people often find themselves working harder and harder but feeling less secure than ever before and something has to give. It is well known that the number of people starting their own thing increases when the economy is slow, especially since the blooming of the internet. This is definitely the case today as more and more people wish to take back some control of their lives.
Research shows that over 500 000 people planning to start their own business next year, in the US alone. People have very different reasons for wanting to do this. Reasons often revolve around having more money so as to be able to afford material things such as a nicer car, a bigger house and nicer holidays.
I understand now that there are others like me, they have dreams and aspirations but their current job is not getting them any closer. They want to break free of the 9 to 5 grind and start making their dreams a reality. If you are one of these people this site is dedicated to you.
If you are caught in the ‘Rat Race’ and find yourself in a place of dissatisfaction with any area of your work life, I urge you to look into the many opportunities that are on offer today, and your first step is part time Entrepreneurship, and the main thing is to take action, and just get started on your journey.
Now here are two very simple concepts that Jim Rohn taught that are crucial to making changes in your personal philosophy:
“Formal education will make you a living, self-education will make you a fortune.”
Start working harder on yourself, than you do on your job. Your pay grade is based upon how much value you bring to the market place. So self-development is central to your finances, success, and life in general.
“Profits are better than wages”
This principle is important in achieving our dreams as Jim Rohn said: “Wages will make you a living, profits can make you a fortune.”
It’s exciting to work every day working your fortune, rather than going to work just to pay the rent. That leads nowhere, and after 20-30 years you’ll pretty much be at the same level in life.
One of my mentors who is a very successful entrepreneur, said to me, “Leroy, wages are designed to pay the bills, it’s not designed for our dreams”. Profits are better than wages. If you’re smart, work full-time on your job and part-time on your fortune, you can achieve your dreams.
You will find how much more exciting it is to get up in the morning and go to work on your fortune, even if you’re only spending a few hours a week doing it.
You must understand that a job gives you a linear income, linear income means no work no pay, while business can give you a passive or leverage income which will take care of your retirement.
It’s ok to make a living, but don’t forget to design your life.
So start thinking bigger and further, and let the adventure begin.
Author | Speaker | Coach
Founder, Success Mentors Academy™
Creator, 7-Step Online Business Blueprint
“A Year From Now You’ll Wish You’d Started Today!” – Karan Lamb