This week, I’ve been writing about wealth.
My mission is to make one million entrepreneurs wealthy.
I’m going to start with fitness entrepreneurs. Because they deserve it.
The Two-Brain Map to Wealth
Wealth doesn’t mean waste. Or greed. Wealth is simply the freedom of money and time. And wealth is the entrepreneur’s goal.
On Tuesday. I published, “What Is Wealth?” here. And yesterday, I dove deeper with “Defining Real Wealth.”
One of the great benefits of mentoring gym owners and fitness entrepreneurs first is that they understand how to achieve things.
To achieve almost anything, you must start with the end in mind. You must have a clear picture of what you want. We call this a “goal,” and the best goal-achievers in the world have coaches—in sport, in fitness, in business and in wealth.
The next step to achievement is to get a clear picture of where you are. We call this an “assessment,” and the best achievers in the world aren’t scared to self-assess. Athletes review tape, exercisers start the clock, entrepreneurs compare their metrics.
Next, we work backward from the goal to the starting line and plot the journey in broad categories. Athletes might periodize their training around GPP, then strength, then speed and then taper into the sport-specific training as their competitive season approaches.
Entrepreneurs move from Founder Phase to Farmer Phase to Tinker Phase to Thief Phase. Take the test here to see where you are, or buy the book to get your plan.
I wrote “Founder, Farmer, Tinker, Thief” to give entrepreneurs these broad categories—but also to break their journey down into tiny steps.
When you draw a map, you start with the endpoint. Then you find the starting point. You identify the phases of the journey (car ride to the airport, flight to Heathrow, flight to Nairobi, bus to the remote village). Then you fill in all the little steps: call the Uber, check in at the counter, pass through security, and so on.
We’ve done that for wealth.
For the first time, entrepreneurs can see both a clear goal and the steps to get there.
Why Hasn’t Anyone Done This Before?
Many experts and consultants sell wealth online. But none of them have ever actually defined “wealth” before. Isn’t that funny?
But if you’re a CrossFit aficionado, you’re aware of this problem, because while thousands of people were selling “fitness” before Greg Glassman, he took the time to define it. That’s what made CrossFit powerful.
Without a clear definition of “wealth,” no one was able to identify the broad stages of the journey to it. After we defined wealth, it was still a challenge to break down the transitions from Founder to Farmer to Tinker to Thief. But we did it.
And knowing those phases meant that we could identify the absolute criteria for progress: “You can’t be considered a Farmer until you have X.”
From those criteria, we could break down the steps.
For example, a Farmer must spend time working on the business instead of working in the business. That just means more time on sales and marketing and vision and less time making the doughnuts.
But there are several steps to achieve that goal, and after mentoring over a thousand entrepreneurs, we know the steps well. This process is called the Value Ladder (read about it here), and it’s one of dozens of step-by-step tactics we mentor Farmers through.
Can Non-Entrepreneurs Become Wealthy?
Of course. In our society, almost everyone can retire around age 65. Through careful sacrifice and discipline over four or five decades, workers can squirrel enough money away to have free time when they’re elderly.
But entrepreneurs don’t want to become wealthy on someone else’s timeline. We don’t want to wait. We’d rather make a huge investment of money and time up front—probably making someone else wealthy—and then achieve our own wealth early.
Why Get Wealthy at All?
When you’re in Founder Phase, you probably don’t have enough money. Your focus is on paying the bills, not accumulating wealth.
But as your business grows, your responsibility broadens. Soon, you’ll have staff to support. You’ll have clients who depend on you. And your business will grow.
So you’ll broaden your platform. And you’ll set aside money to cover unforeseen expenses. You’ll pay yourself (and your staff) more. You’ll want to reinvest. And you’ll want to share.
The bigger your platform, the more you can share with the world. This might mean bigger jobs for others or better facilities for your clients or less stress for your family.
Eventually, you’ll want to eliminate financial stress altogether and achieve financial independence. That’s wealth. You deserve it.
The reason my mission is to make 1,000,000 fitness entrepreneurs wealthy is because they’re generous.
Their wealth doesn’t accumulate in some hidden vault; it’s used to leverage a greater service to the world.
You can talk with a certified Two-Brain mentor for free. Click here to book a call.