Article for WISE Prosperity Online Magazine

by Christopher Music on August 16, 2016 No comments
How Much Income Can You Earn? One of the chief challenges in small business is earning of enough income to not only cover the expenses of operation, but to create an abundant income stream to the owner(s).  But how can one predict and control the amount of income generated by his small business? Lack of income seems to be a continual problem for many small business owners.  It is a constant refrain that one never has enough money and that the cost of doing business squeezes profits to unsupportable levels.  While this may be a common circumstance, it is not necessary. In HCO PL, LRH unveiled the secret to how much income one can earn.  He stated, “The income potential of any usual group is established by the demand for income and not any other important factor.”  So, the amount of income one can earn will be simply regulated by how much income one demands. Let’s take a good look at this statement. “Potential” means “how much one can do.”  The difference between a “usual” group and, by contrast, an “unusual” group would be the method by which they achieve their income.  A “usual” group would be a company that would have to exchange a product or service to receive money from the public it serves and an “unusual” group would be one that could derive income through taxation or subsidy, for example, without the requirement that they produce and exchange something that is demanded by the public.  Since you are a small business owner, you most likely fit into the “usual” category. “Established” means “to put there” and “demand” means “to claim as if by right.” Now, who establishes the demand for income?  Who does the action of putting it there?  You do!  The owner, the executives and the employees.  Everyone involved in the business enterprise must have a demand for the company to earn money or there won’t be any.  It is up to the company leadership to instill that demand by aligning the group to its purpose and reasons for growth and expansion. What is the difference between a company earning a gross income of $200,000 per year and one in the same industry earning $2,000,000 a year?  The second company made the decision that earning less than $2,000,000 per year was unacceptable and the owners and top executives demanded that sufficient production occurred in that company to realize $2,000,000 per year.  That is the difference. How much income did your company earn over the last 12 months?  Whether it’s a good number or a bad one, it IS the amount of income that was demanded by the group over that period of time. Now, if it is an unacceptable number, do not fall into the trap of believing that any other reason given is the cause—a slow economy, competition, interest rates, the price of tea in China—because underlying these apparent reasons lies the fact that the group simply did not demand enough income.  The group’s members did not decide that anything less was unacceptable. A clarification must be made at this point.  If “demand” means “to claim as if by right,” then when does one obtain the right?  After production and exchange occurs.  One can go around demanding any amount of income but he doesn’t have the right to it until value is delivered.  For example, a dentist does not have the right to claim a fee for a dental procedure until either a contract is entered into to deliver the imminent service or after the actual service is delivered (depending on payment methods). So you want more income?  Deliver more value.  That is done by organizing the group for production and hammering away, getting real products out to a public that demands them.  Income will not occur by sitting around dreaming and wishing or blaming someone else for your lack of affluence. The solution to more income lies in the above reference.  A business will be as successful and affluent to the degree that the group demands income. This is easier than it sounds.  May you flourish and prosper!

christopher

P. Christopher Music, also known as "The Financial Prosperity Coach", is a 23+ year veteran of the financial planning profession and a TWO-TIME best-selling author and financial prosperity expert. He has been seen on NBC, CBS, ABC and FOX affiliates around the country as well as published in Forbes Magazine, Newsweek, The Wall Street Journal and various healthcare industry publications. He is an international speaker and can be booked for corporate and industry events by visiting www.PChristopherMusic.com

Christopher MusicArticle for WISE Prosperity Online Magazine