Too many business owners spend equal time and energy—if not more— in the expense section of their statements as they do on the income part. This is wrong because income is more powerful than expenditures. What I mean by that is you can grow your income more than you can reduce your expenses. I Use Something Called the 95/5 Rule.
“Spend 95% of your time on managing how to increase income and 5% of your time managing expenses.”
Saving money, cutting back, and anything to do with controlling expenses is all about a budget whereas the main focus in your business needs to be on income creation. Imagine for a minute what would happen if your gross income was 10X MORE than it currently is. How would that change your life and business? I want you to have a successful business powering a personal income and lifestyle you can enjoy. Are you spending 95% of your time and energy on income, or are you more worried about your expenses and cutting back Remember this, when you play not to lose, you generally lose. This goes for sports teams AND businesses.
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Grant Cardone is a New York Times bestselling author, the #1 sales trainer in the world, and an internationally renowned speaker on leadership, real estate investing, entrepreneurship, social media, and finance. His 5 privately held companies have annual revenues exceeding $100 million. Forbes named Mr. Cardone #1 of the “25 Marketing Influencers to Watch in 2017”. Grant’s straight-shooting viewpoints on the economy, the middle class, and business have made him a valuable resource for media seeking commentary and insights on real topics that matter. He regularly appears on Fox News, Fox Business, CNBC, and MSNBC, and writes for Forbes, Success Magazine, Business Insider, Entrepreneur.com, and the Huffington Post. He urges his followers and clients to make success their duty, responsibility, and obligation. He currently resides in South Florida with his wife and two daughters.