As an entrepreneur or new business owner, you are expecting to start or have already begun to generate income. On the downside, although you have taken this step to growth, you must not let all of the dollars go to your head. Program your mind to consider taking on delayed gratification at all costs.
Delayed gratification requires you to simply discipline yourself to put off spending the money that you do have until a later date that the average individual would struggle with doing. My mentor does a great job in doing so. Making over $300,000 of income with ease, after having built a self sustaining home business, you would assume that he is living life big. Although he has all of the fancy suits and could afford all of his dream cars, he chooses to continue driving his old Honda Civic.
People look at him crazy but after talking with him personally, I completely see where he is coming from. Instead of going out and carelessly buying a new Mercedes AMG or BMW M5, he has both set a standard for himself and a personal goal that trump his wants and dreams.
Firstly, he wants to literally be “financially bulletproof”. He wants to be sure that no matter what circumstance he or his family will encounter, expenses will be the last thing he will have to worry about.
Secondly, he made a pact with himself to not purchase a new car until his business is bringing in a an extra $100,000 or $200,000 a year which, with his mentality and work ethic, is easily achievable. Only then will he buy the car for himself as a reward.
Delayed gratification takes a ton of discipline but can prove to be very beneficial. All you have to do is wait, until you reach that higher height to start enjoying your life to the fullest!
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