Add Value

“Adding value” is a phrase that gets used by many successful entrepreneurs throughout the world we live in. What does it mean exactly? Do you always focus on adding value to others first or what’s in it for you comes to mind all the time? What are your value beliefs in life and business? Are you like the masses who only prioritise themselves over others? We are constantly reminded in business we must take what is ours and not to let anyone get in the way of our dreams and aspirations. Sometimes this can be taken too literal and many people seem to think they must trample over everyone to get to where they want to be. Or sometimes people focus too heavily on money and rewards and not enough on creating value for the world. Always seeking to add value to the marketplace by servicing others with a solution can lead to success in all areas of our life. For example, if the value of your product and/or service exceeds the price you are charging, then there will be no reason as to why your return in the transaction will be a bad one.

The rich are always focusing on how they can bring more value to the marketplace they are targeting. They are constantly looking for any opportunity to bring more to the table than their competitors as this will always give them that edge over everyone else. Common methods for improving one’s value would be through education, experience and collaboration. These methods can help others succeed even if one’s expertise cannot fulfil the market’s requirements as they will always have an alternative solution to provide. We have all benefited from the value of others at times when we could offer nothing in return. Value may not be a direct exchange at the time of transaction, but what goes around, comes around. On the rise to success, you will inevitably benefit from the guidance and patience of those who are more accomplished, and wealthier, than you. Part of being successful in your field is learning the ability to provide as much value as possible, as it is the core to any high performing business.

The core principle of a business is to provide value for it’s customers and clients. It is for this very reason that many of the most successful businesses in the world were started with little or no money as they concentrated on bringing value to the marketplace first, then enjoyed the monetary awards afterwards. Companies such as Apple, Facebook and Google all started out this way where the passion and value came first then they turned into some of the richest businesses in the world. Apple Computers transformed the entire world of computers by making them easy to use for normal everyday people. One of the claims of many Apple iPhone users is that they have never read the instruction manuals. The applications are so simple to set up and use that they literally explain themselves. Convenience and simplicity became a huge source of added value for Apple, and for many other companies that have followed the same process.

Adding value to property to increase it’s overall worth is a common method in manufacturing equity. This could be in the form of a new kitchen and bathroom, landscaping, painting, extension and the list goes on. All of these improvements are done to provide the end consumer – usually a buyer or tenant, with some sort of value. It provides them with a solution to a problem, which in return will incur a fee for the convenience of the end consumer not having to carry out the work themselves. The more extensive the work on the property is, the more equity is created and/or more rental return can be charged for the investment. A simple cosmetic renovation can do wonders to the value of an established property, while homes purchased on large blocks of land represent the opportunity to eventually develop through subdivisions and construction.

Investing in the Australian property market can be very lucrative for people looking to create a business from real estate. Understanding where to add value is key to ensure the asset always stays in demand and optimal profits are produced. Knowing what appeals to the end consumer is very important in order to conduct the correct work to add value to their needs and wants. This will ensure that the market will continue to pay a premium for this value added to their asset, whether it is the asking rental or selling price. On the other side of the coin, people who purchase brand new properties – usually off the plan tend to restrict themselves from adding value to the property to help increase profits. Any options to add value to these types of properties will have to be conducted in the very far future. Most of the time these brand new purchases are bought at a discount through bulk buying pre-sales and are realising a profit due to the increase in capital growth of the area. Therefore, purchasing a property that has potential for you to add value, through renovations and subdivisions , can help fast track you to a successful road to property investing and entrepreneurship.

In summary, just like the title states “always add value”, applies to all things in general. If you always strive to add value to others in your life and business then you will never have to lower your price, therefore always charging a premium for your investment return. Believing in quality and service will enable you to keep your returns high which will leave more money in your pocket and optimise your profits. Instead of having the common mindset of “take take take”, continuously thinking of ways to create value in todays economic environment will help produce the results you are looking for. If you chase money, you will keep chasing your tail. Money eventually follows, it does not lead.

Self-Made Millionaires

Everyone wants to be successful and make money. But some people want to reach out further and become a millionaire.
How to do that? Here are the top 10 habits of self-made millionaires you should indulge in to become successful and a self-made millionaire eventually.

Get Up Early:

If you want to reach the millionaire status, you need to start your day early. When you get up early, you have time to do things and plan your day. It makes you more productive so that you can achieve more. Self-made millionaires get up as early as possible to spend quality uninterrupted time on themselves to help kick start their day.

Gratitude:

Becoming successful requires personal development as well. Gratitude is game-changing. Successful people are always grateful for what they have. To strive for more but do not take the people, relationships, skills or resources they have for granted. This produces positive energy straight away as it is almost impossible to be stressed and grateful at the same time. Focusing on gratitude will almost guarantee a happier life.

Education:

To become successful, everyday should be a day to learn something new. Your education should never stop. Take lectures, read books, attend seminars but educate yourself as much as you can. Some of the most successful entrepreneurs still have a habit of reading for hours a day to continue to grow and expand their minds. Education is one of the most important habits of a self made millionaire.

Stop Watching the News:

It takes consistency and using your time productively that makes one successful. Successful people do not waste time to watching TV especially news. News even if breaking news, they are in the past and create tension and negativity. They disturb the peace of mind. Stay clear of that. If the news is big enough in the media, someone will end up telling you about it in passing. Remember, the media are paid to sell papers and stories, not to inform you on official literature and learning.

Build Relationships:

Create a circle of successful and ambitious people around you. They could give you worthy advice, help you. Whether they are successful or striving to be, combined skills, ideas and talents of such could create something amazing for you. We all specialise in different fields that are our area of expertise. Build and feed your team to help leverage yourself to your destination faster and easier than doing it on your own. All self-made millionaires surround themselves with people smarter than them. You are only worth as much as your network.

Find Mentor:

Getting yourself a mentor could lead you to earn wealth much faster. Mentors give one insight on strategy so that you can plan ahead for the big picture. Mentors participate in your success journey actively and regularly while teaching you the ropes sharing valuable life lessons from personal experiences and what they learnt from their own mentors. Instead of learning costly mistakes from their own failures, self-made millionaires try and not make the same mistakes their mentors have made in the past. Mentors can also hold you accountable for any task you set out to do.

Exercise:

Exercise boosts both your mental and physical health. Make a habit to exercise for 30 minutes in the morning preferably to get an active and energizing start your day. Exercising gives you the strength for rest of the day. Without physical fitness, it is very hard to achieve mental fitness. Endorphins are released in the brain after exercise and if done first thing in the morning, this can set you up for a day of success through positive thinking and mindset. Physical fitness goals are just as important as financial goals, as without our health, we will not be able to enjoy the fruits of our hard work for long.

Take Action:

Millionaires who made it on their own plan and take action for their dreams/goals. They are obsessed with their vision and set out to achieve that. They not only dare to dream but achieve it also by taking action. Executing ideas and plans are probably the most overlooked habit that the average struggle to implement. You can have the best plan and strategy in the world, however if you do not action then the goal will always remain an idea. The ultimate thief of a good idea is procrastination and lack of action. Self-made millionaires make a decision to take massive action and execute the process and if they make mistakes, they learn along the way.

Leverage:

No doubt one has to work a lot to become a millionaire but self-made millionaires are smart. They do work themselves but not everything. They have the skill to get things done by using their resources intelligently. Just like building relationships, they leverage off the experts. Also leveraging off OPM (Other People’s Money) allows self-made millionaires to play with bigger numbers which then result in higher investment returns. This helps increase their net worth position as opposed to using their own funds returning a smaller profit.

Give Back:

The very essence of a successful life is the spirit of giving back. The heritage of our deepest desires and dreams to succeed is giving a portion of our lives and giving back to those who helped them in the way, or becoming someone who gives back to the community. Successful people can also give back by helping others to transform their dreams and become successful. Self-made millionaires understand the struggle and difficulty of getting to the top of their game and endeavour to help lift as many people up as they can. Giving back can include donating your time, knowledge, money and other resources to help make our world a better place.

Adopt these habits and see how you achieve success as a self-made millionaire!