Which college degree should I take?
This is one of the more common questions I’m asked through social media. The question itself presupposes that I actually suggest going to college, which, for many of my students – I do not. I recently made a Snapchat story about my opinion on College…
If you feel called from deeply within your soul to dedicate your life to something that requires (by law) a college degree, then by all means get a degree! If this is the case, you probably already know exactly which degree you need. In fact, if this is the case, you’re probably not reading this article.
If you’re still reading, there’s a high probability you fit into another category of vocational desire. Perhaps either the “entrepreneur” or the “financial independence seeker.”
If you would love to become an entrepreneur, start a business and achieve financial independence – I personally wouldn’t waste your time and money on college. See, a college degree has very little to do with creating financial independence. When I share this with students, many reply with, “Well, I want to become an entrepreneur eventually, but first I need to get a degree because my mom and dad want me to.”
The harsh truth
You will not become a successful entrepreneur and develop into a great leader if you’re still subordinating to mum and dad. If you haven’t yet built the courage and confidence to follow your heart with priority over pleasing and appeasing the “authorities” in your life, you don’t yet have what it takes to be an entrepreneur. At this point, you haven’t yet given yourself permission to become a leader.
The four pillars of entrepreneurial success
If you aspire to become an entrepreneur and develop financial independence, you’ll need a solid starting point. While this is (obviously) not a comprehensive business plan, the following pillars of success are (in my opinion) essential components of every successful business. In my 1 on 1 coaching sessions, establishing these essential pillars has helped countless students launch into inspiring and lucrative business endeavors more than any other process I’ve stumbled upon.
The four pillars:
- You’re good at it
- You love doing it
- It serves others
- You can efficiently monetise it
When you’re paid for something and it serves others, it could become your job. This is your vocation.
When you’re paid for something and you’re good at it, you can become a professional. This is your profession.
When you’re good at something and you love doing it, you can become passionate or inspired. This is your passion or inspiration.
When you love doing something and it serves others, your mission is emerging. This is your life’s mission.
When you combine your vocation, profession, inspiration and mission – you create a powerful foundation for an inspiring and lucrative career.
This is your most empowered calling on Earth. Following this path will allow you to empower your soul (through fulfillment and service), and empower your senses (through financial wealth).
The overlap between vocation, profession, inspiration and mission is what I call your entrepreneurial “sweet spot”. This is what I’m dedicated to helping people find in their lives. I know first hand when you find it, your life’s different. For me personally, my sweet spot is teaching, sharing, inspiring and guiding. I love doing it. I’m good at it. I get paid well for it, and it serves others. It changes people’s lives.
Try this at home
If you don’t yet know what you’re here to do on planet Earth, you would be wise to complete this exercise.
- Grab a pen and paper.
- Create 4 columns.
- Title the 4 columns: Skill, Love, Service, Money.
- Start with what you’re good at. List all the things that you’re good at. Write an exhaustive list.
- Move to the next column. If you love that which you’re good at, tick it. If not, cross it.
- Move to the next column. Ask yourself: Would I love to serve others with this skill? If so, tick it. If not, cross it.
- Move to the next column. Focus only on the rows with a tick under “love” and a tick under “service”… Write 10 methods by which you could make money from this skill.
- Prioritize the list of 10 methods. What can you begin today? What is a future method?
- Take the highest priority method, and ask yourself: What are the 7 highest priority actions I can take to start monetizing this skill?
- Prioritize your 7 action steps, then chunk each step down into 7 sub-steps. You will have 49 action steps in total.
- Complete one of the steps immediately.
- Keep taking daily action until all 49 action steps are completed.
- Enjoy your new income stream. Reward yourself (with moderation) and continue building your empire.
When you’re good at something, and you love doing it, and you take the time to build and organize a service or product with love, and you serve people with it… it’s the most fulfilling thing you could do. Completing this step-by-step process is how my girlfriend Robyn came about writing her first two books. Since her second book is a recipe book, we’ll often receive Snapchats from readers all over the world who are cooking her recipes. This is very rewarding for her.
As I always say, leadership is a function of a clear vision. He with the clearest vision leads the way. Those in the fog must follow. Individuals who have cloudy minds, fogged over by the injected values, opinions, and expectations of others will tend to remain followers until they see the light of their own soul and give themselves permission to move toward it.
As you move toward your own light, a sense of clarity, certainty and enthusiasm often emerges. This enthusiasm becomes magnetic to others, and you will naturally tend to develop a following.
With the recent development of social media, it is now easier than ever to create your own following and become a leader.
With a social media exposure of just 20,000 followers (which is not much in the realm of social media), you have a ready-to-use platform to share your products and services with the world. If your first product is, say, a book – you might make $10 profit per sale, and you might be able to sell the book to 5% of your followers.
20,000 x 0.05 x $10 = $10,000
You’ve just made ten thousand dollars in profit from one small product. This is where you start!
Getting a project off the ground is usually the most challenging part, but once you’ve got momentum, objects in motion tend to stay in motion. To the degree of quality, service and value your product provides – word of mouth can (potentially) turn each product you create into a perpetual income stream for life. This is what happened to me with my first paid educational product, Infinite Prosperity.
New to the game
If you’re stuck on the first column, and you truly believe you’re not that good at anything yet, it will be much harder to become a successful entrepreneur. This comes back to personal development. You need to go and grow in something! You need to get good at something. It’s mind-blowing how many people message me and say, “I’m not really that good at anything, I just want to be financially independent.”
Another harsh truth
If you’re not good at anything, you’re not going to make money. End of story. That shouldn’t be a mystery. You need to be good at something if you want to make money. Even if you want to create zero-sum income streams that don’t directly serve others like trading or poker, you’ve got to be good at that! So, at some stage in your life, you will need to develop some kind of skill in some area. Any area will do, but as long as it’s something you love doing, I guarantee you can make money from it.
Charge in fair exchange
So, you’ve found something that you love, it’s something that you’re bloody good at, it’s something that you’ve taken the time to package in a way that’s serves other people and meets their needs. Now you need to charge for it. My advice is to charge in fair exchange. In my experience, it is unwise to overcharge or undercharge. If you rip people off, your income won’t be sustained long term. If you rip yourself off, your wealth and inspiration won’t be sustained long term. The wisest thing to do is charge a price that’s fair for the customer and fair for you, then you’ll not only grow sustainable wealth, but a loyal community of clients that keep coming back. Love yourself enough to charge well. Love your client enough not to rip them off.
Live an inspired life
So, your products are growing, your leadership is growing, you’re serving people, you’re making money, you’re growing wealth, you’re growing income. There’s two things that you might wish to do from here.
- Get the income, and use it to outsource all the low priority, uninspiring chores in your life. I’m releasing a program about this in 2017 called the Inspired Life Program. It teaches you exactly how to go through all the uninspired chores that you have to do, and outsource them to someone who is more inspired and more qualified for the job. If it’s uninspiring, outsource it! If you don’t like cleaning, don’t clean. Get a cleaner. They’re very cheap.
- Take a portion of your income and invest it to grow wealth. In my financial education program, Infinite Prosperity, we teach students both passive investing philosophies and active trading strategies. Whether you desire to become an active speculation day trader, or perhaps prefer to remain a long-term investor who harnesses 4 dimensions of investment diversification using unleveraged index funds, the Infinite Prosperity course has you covered. Our first two lessons are free!
You’re doing what you love. You’re doing what you’re good at. You’re serving and fulfilling the needs of others. You’re generating income by charging in fair exchange. Your products and services are created with love, so word of mouth reviews allow you to keep expanding your income. You’re taking that income and liberating your life from low-priority, uninspiring chores. You’re saving an ever-increasing portion of your income to create stability buffers. Once stabilized, you’re investing and/or trading to grow and accelerate your wealth.
This is the recipe for an inspiring, empowering and fulfilling financial life.