What Would You Do With $100,000?
Written by Dave Lorenzo on January 29, 2018 / Mindset
What would you do with an extra $100,000?
If you don’t know the answer, you’ll never have an extra $100,000.
So much of sales is mindset, that thinking about what you would do with additional money will help you focus on making that money.
How many times have you been in a situation where you needed additional money to pay the rent, mortgage or a big bill? What happened when you focused on that amount of money?
Most sales professionals will say, “I closed a deal for that exact amount.”
Why didn’t you close that deal previously?
You didn’t want it bad enough and you didn’t focus on it enough.
This video explains.
Here is the transcript:
What would you do with an extra $100,000? What would you do with it? Would you invest it? Would you take a trip around the world? Would you pay down some debt? What would you do with an extra $100,000? This is a question I ask all my clients when we begin working together. The way they answer it is very telling. If they don’t know right away off the top of their head what they would do with $100,000, I know they’re not ready to make $100,000. Think about that for a minute. If you’re not prepared, if you don’t have a plan for what you will do with the extra money you’re going to make, then you’re not ready to make that money.
You want evidence of that? Think about when you’re short. If you’re in sales or you’re an entrepreneur, you’re a business leader, and you’re short for making payroll or you’re short for paying your bills, what do you do? You go out and you sell and what happens? You make enough money to cover your bills. Most of the time you make just enough money to pay the bills that you want. When I led sales teams, and I’ve led dozens of sales teams, whether they’re 10 people, two people, or 200 people, one of the things I would encourage the people in sales to do, especially my top producers, is I would encourage them to go out, buy the most expensive car they could afford or buy the most expensive car they even couldn’t afford. It doesn’t matter what the monthly payment is. Go buy it. Buy a huge house in an expensive neighborhood.
You know why I would tell my top producers, my best sales people, to do that? Because that’s how they would motivate themselves to sell. Their instinct is to sell to survive. If you have something specific you want to do with that $100,000, you will make that $100,000. That will fuel you, it will motivate you. But why stop there? Why not let yourself think, “What would I do with an extra $500,000? What would I do with an extra $1 million?” You want to fly on private jets? Start making an extra $1 million a year. You can fly on private jets at that point no problem. You want to own two homes? Make an extra $2 million a year. You want to pay off the home you have now in cash at the end of this year? Go find an account that will give you the money you need to do that. It’s that easy. But you have to believe that you’re going to make that money. You have to believe that you’re that person. That’s why, when you’re short, you’re $1,000 short to paying your bills this month, you’ll go out and you’ll sell $1,000 worth of stuff, $1,000 in money to you worth of stuff to pay your bills. The reason you can do that is because you believe you can. That’s the difference. The $50,000, $100,000 number, it’s a stretch right now, but after watching this video you’ll probably be able to convince yourself, “Hey, I can do that. I can make that extra $100,000 because I’m going to use it to buy a car and take my family on a nice vacation and pay off some of my bills.” You’re going to believe that you can do that and you will do that after watching this video.
But the same thing is true of $1 million. If you said to yourself, “I want to buy a new house in cash. I need to go find someone who’s going to give me $1 million for the value I can provide,” if you said that, it would become so. It may take a year. it may take 18 months. it may take two years. But once you set that point in your mind and you believe that that’s possible, it is possible.
The key is to know what you want to do with that money and then to really, truly convince yourself that you can make that money, it can be there. How do you convince yourself that you can make that money? If someone else who does what you do is making that money, you can make that money too. What one person can do, another can do. It’s that simple. Nobody is head and shoulders above you in the intelligence department. They’re just using a different game plan and they’re working harder. What you need to do is you need to figure out what their game plan is, copy that game plan, and work twice as hard as them. Once you do that, anything is possible. So, believe you can make the money, have a plan for how you’re going to use the money, and then get to work.
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