A wealth creation strategy enables you to continuously attract money and opportunities in the same way that growing a garden enables you to continuously attract the birds and butterflies.
The following article is based on ideas by Roger James Hamilton, the creator of Wealth Dynamics, someone whose fundamental approach to business success I have a great admiration for.
Wealth Creation – the difference between a Net and the Garden
Using the analogy of money being as tricky and transient as butterflies is a useful illustration. It allows us to draw a clear distinction between the strategies of those who are busy trying to make money (focusing on the Net) compared to those who are building wealth (focusing on the Garden).
The NET approach to money
You want to catch butterflies, so you decide to build a net. Surely, with a net you can catch them more easily than without a net! You read books on the subject and you practice skills in butterfly catching. You find that you are making improvements.
You buy or build a bigger net and get smarter and gradually you do catch more butterflies.
But there is something wrong:
- You find that after many years of this strategy you still need to wake up every day and go out to catch more butterflies.
- You need to hold on to the butterflies you have caught, or they will fly away just as quickly.
- The more butterflies you have, the more difficult they are to hold on to.
- You are constantly in fear that the butterflies will disappear,
- You fear that someone with a bigger net will beat you at your own game.
When the butterflies do disappear, you’re left with nothing.
I know of many people who have become experts at sales, marketing, management, customer service and still struggle to make money.
They carefully follow the strategies they learn, and then remain baffled as to why they do not attract the same opportunities, resources and sheer luck of their role models.
These are people who are trying to make money without first building wealth.
The GARDEN approach to Wealth Creation
On the other hand, wealth creators don’t worry about building a net. Instead, they grow a garden.
By focusing on creating an inspiring garden, they are growing something permanent around themselves. As the garden grows, the butterflies come. As time goes by, you find that the effort to manage the garden falls as the number of butterflies rise. In fact, the butterflies, birds and bees end up pollinating your garden for you. You don’t fear butterflies leaving, as there are always more coming.
If anyone takes your butterflies away, there will be more the next day. Every successful wealth creator is focused entirely on building their wealth foundation ahead of their money making activities. They have built a reputation, a powerful network, a knowledge base, a resource base and a track record. This is their garden, and it has been built not around their expertise, but around their passion.
Every day, they wake up to their passion – not an empty net.
In a speech to a group of students, Warren Buffett said:
“I may have more money than you, but money doesn’t make the difference. If there is any difference between you and me it may simply be that I get up every day and have a chance to do what I love to do, every day. If you learn anything from me, this is the best advice I can give you.”
Attracting More Wealth by Moving Less
Each wealth creator has got themselves into a position where they can stop chasing opportunities as they have chosen to build a wealth foundation around their specific passions and talents. As the American industrialist, Andrew Carnegie said “The men who have succeeded are men who have chosen one line and stuck to it.” Choosing the right line in the first place counts for a lot too!
Warren Buffett attracts billion dollar butterflies because he is specific in what his investment company, Berkshire Hathaway, wants to invest in. He repeatedly says he is looking for businesses with consistent earning power, good return on equity, little debt, good management and that he understands… between $5 billion and $20 billion in size. He doesn’t have to go chasing the business deals, they come to him.
It does mean understanding and then sticking to your wealth profile. As a result:
- Warren Buffett attracts the right deals that suit Berkshire Hathaway,
- Richard Branson attracts the right businesses that suit Virgin and
- Jack Welch – as CEO of GE and one of America’s best known leaders – attracted the right people who suited his leadership team.
Each different wealth profile has a different value that creates this attraction – a different garden they are tending to.
What is your Wealth profile?
To discover your own wealth profile, take the profile assessment. It takes just 20-30 minutes to answer 50 or so questions.
The results could refine your views and your focus significantly. It may also make your passion and path much clearer, leading to less stress and more wealth.