1. Are You Thinking BIG Enough?
What is your current annual income level? Are you satisfied with this level? If not, ask yourself how much income you want to earn. Think about this number—what is it?
If the number you determined is less than double your current income level, you probably are not thinking big enough. The reason is that you will not have to make any significant changes in what you are currently doing to earn more money.
This number also may not be large enough to motivate you into the powerful action required to increase your income. The predictable result is your income level probably will not change much from where it currently is now.
To move into a higher realm of income potential, you literally have to train your mind to think bigger. The reason is, as a culture, we are accustomed to our income increasing, on average if we have worked for someone else, about 3-5% a year; the typical pay raise for satisfactory performance in a good economic year.
You want to dream up a number that really feels larger to you. If the number you thought of earlier doesn’t get you emotionally excited thinking about it, feeling challenged, or even a bit scared about how you’re going to achieve that income level—then, the number you thought of is not large enough! You want this income number to be a stretch for you so you creatively think of ways to achieve that number.
The challenge I want to put forth to you is to think about doubling your income in the next year. This number may seem impossible, but I assure you, it is not. You can accomplish this goal by breaking this amount down into four 90-day periods. This means you will be increasing your income a minimum of 25% over the next 90 days, from what it currently is now.
Action Step: Think of an annual income amount that is at least double what you are currently earning. Write this amount down on a piece of paper. Now, take the number you wrote down and divide it by four.
For example, if the annual amount you wrote down was $100,000, dividing by four equals $25,000. This number is your 90-day income goal. You are on the path to doubling your income in one year!
2. Why Do You Want to Earn More?
Why do you want to earn more? What will you do with this money? Will you invest in your retirement, pay off debt, or invest in your children’s college education? The money “why” aligns your passions with your efforts. In order to take the steps you need to increase your income, you need to feel an emotional charge for the reason—or the “why.” This becomes a powerful motivator to do what activities you must do to increase your income.
Action Step: Write down one money “why” you want to increase your income. Feel passionate about this reason, and what you will do with more money in your life.
3. Create a Plan to Increase Your Income
You have tapped into your new income amount and your money “why.” Now you need a plan about how you will achieve your income goal. Start thinking creatively about the programs and services you will offer, develop a promotional strategy, and get selling! Be creative about what you can do to generate this income.
Again, you are thinking in a 90-day timeframe about the activities and tasks you must do to create this income.