Netting 7 Figures A Year – It’s More Than About The Money

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In this episode we discuss the impact of netting seven figures a year. We start our discussion with whether or not people really think they can take their income to that level. Almost everyone has internal doubts that they can do that. Then Kelly and John talk about their experiences once they were each able to take their net income to this level. And how it’s so much more than about the money. Your relationship with yourself changes. From enhanced confidence you see you can make a dent in the world. John also points out something that Brian Tracy has said. “The first million is the hardest. Future millions are inevitable”. And to wrap up the episode John and Kelly talk about how you take your income to that level. It starts with your daily mindset that is established in your morning routine.

About the Hosts:

John Mitchell

John’s story is pretty amazing. After spending 20 years as an entrepreneur, John was 50 years old but wasn’t as successful as he thought he should be. To rectify that, he decided to find the “top book in the world” on SUCCESS and apply that book literally Word for Word to his life. That Book is Think & Grow Rich. The book says there’s a SECRET for success, but the author only gives you half the secret. John figured out the full secret and a 12 minute a day technique to apply it.

When John applied his 12 minute a day technique to his life, he saw his yearly income go to over $5 million a year, after 20 years of $200k – 300k per year. The 25 times increase happened because John LEVERAGED himself by applying science to his life.

His daily technique works because it focuses you ONLY on what moves the needle, triples your discipline, and consistently generates new business ideas every week. This happens because of 3 key aspects of the leveraging process.

John’s technique was profiled on the cover of Time Magazine. He teaches it at the University of Texas’ McCombs School of Business, which is one the TOP 5 business schools in the country. He is also the “mental coach” for the head athletic coaches at the University of Texas as well.

Reach out to John at john@thinkitbeit.com

LinkedIn: https://www.linkedin.com/in/john-mitchell-76483654/

Kelly Hatfield

Kelly Hatfield is an entrepreneur at heart. She believes wholeheartedly in the power of the ripple effect and has built several successful companies aimed at helping others make a greater impact in their businesses and lives.

She has been in the recruiting, HR, and leadership development space for over 25 years and loves serving others. Kelly, along with her amazing business partners and teams, has built four successful businesses aimed at matching exceptional talent with top organizations and developing their leadership. Her work coaching and consulting with companies to develop their leadership teams, design recruiting and retention strategies, AND her work as host of Absolute Advantage podcast (where she talks with successful entrepreneurs, executives, and thought leaders across a variety of industries), give her a unique perspective covering the hiring experience and leadership from all angles.

As a Partner in her most recent venture, Think It Be It, Kelly has made the natural transition into the success and human achievement field, helping entrepreneurs break through to the next level in their businesses. Further expanding the impact she’s making in this world. Truly living into the power of the ripple effect.

Reach out to Kelly at kelly@thinkitbeit.com

LinkedIn: https://www.linkedin.com/in/kelly-hatfield-2a2610a/

Learn more about Think It Be It at https://thinkitbeit.com/

LinkedIn: https://www.linkedin.com/company/think-it-be-it-llc

Facebook: https://www.facebook.com/thinkitbeitcompany

 

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Transcript
Unknown:

How do driven entrepreneurs like you and me? Who want to play the game of life at our full potential? actually do that? So that we met seven figures a year and experience the overall exceptional life? It's all about leveraging our most valuable asset, our brain. But how do we train our brain to actually rewire our autopilot so that all of the right actions and focus happens automatically without thinking, as we create the exceptional life in business health, and our significant other relationships? These are the questions and this is the podcast that answers them. This is where your net seven figures at your freedom begins.

Unknown:

Welcome. I'm Kelly Hatfield. And I'm John Michell. And today, we've got an interesting topic, I think. We're gonna talk about this idea of netting seven figures a year. And I know that sounds like it's all about the money. Right. But it's not all about the money. In fact, interestingly, many of the may be one, the lesser thing, it's about the Kelly, would you agree with that? Yeah. 100%, I would agree with that, I think people can get, you know, lost in that message of netting seven figures, because it feels really overwhelming. And it feels like there's a big, you know, gap to fill to get from where they are to where they want to go? And I think so. So I think there's an immediate resistance. Maybe when people hear that, you know, and I know that people's beliefs around money, also have something to do with their feelings when we say that statement, netting seven figures, you know, and it does make it sound all about the money. Right? Right. Well, and you know, when you don't have money, it is all about money, I mean, dry, or when you don't have enough, no money. And and I think one of the things that I find interesting is that every one of our clients, at some level doubts whether they can net seven figures a year, although, you know, a half of them, typically, already are coming in netting seven, but and maybe it's not half, but you know, a lot of them are, but probably a few more are netting six figures a year, and they all come in, not sure they can do it. And I'm like, boy, I'm right there with you. I thought that myself, I don't know, when I taught you. This. Did you feel that way? You know, I felt I didn't feel that way about netting seven, I felt that way. At the beginning of my entrepreneurship journey. Like I think I set my first goal it, you know, like, I think it was a couple 100,000. And I felt like that was like, huge. You know what I mean? When I first you know, and then it was like, Oh, that was you know, and then it was a million. And that felt like it was gonna be you know, right now, too. I'm talking about revenue. I'm not talking about netting right now. So these these numbers felt big early on. And I think with each hitting each one of those little benchmarks, my confidence grew.

Unknown:

And,

Unknown:

you know, so so the idea of netting seven was exciting to me, it didn't seem like it was impossible, because I had proved in my mind, over the course of my you know, at that point in time, it had been a nine year entrepreneurial journey that I could hit the different,

Unknown:

you know, goals I'd set for myself. So for me, it was more an exciting thing. But it didn't feel like oh, well, I but here's the other thing, too. This is about, if somebody's done it before you they've proved it's possible. Yeah. So for me, you know, I'm like, Well, you know, obviously, I'm talking to somebody. So I've got somebody teaching me who can show me how to get there. But then I know, all of these, you know, other entrepreneurs that have done the same thing and business people and people that I aspire to be so I knew it was possible. And I think that's, you know, for me where the distinction is, you know, I tell you, I don't have much patience for people that say, Hey, I'm making a million dollars a year, and then you dig in and you find out they're grossing a million and they're netting. 100,000, right. I'm like, it's all about the net gang.

Unknown:

You know, forget the gross and but I know when when I was, you know, I don't know, in my 40s I certainly, I thought I was sharp, but you you couldn't prove it by my track record. You know, I was semi sharp, I guess. And so I had, I had that doubt. And then once once I, I did it. I mean, I remember

Unknown:

Going from 300,000. Net one year 2,000,005. And I was like, Whoa, this is good. And I saw that it was way more than the money it was, it changed my relationship with myself my sense of what I could accomplish in the world that I can make a dent in the world, not just a dent in my world, but maybe potentially a dent in the world. Did you feel that way too? Absolutely. And I think too, that's one thing, you know, I want to visit a little bit about, you know, for me, this honestly was never about the money, I never made it about the money and netting seven figures a year. For me, it was real, purposeful, like I knew the more money I earned, the more I could serve, the more value I could bring, I have a real purpose tied to what it is that I do, and being able to provide solutions and help other people grow. And, you know, so for me it and that's just the way I work, if I had set a goal that was specific to money, and I didn't have my purpose tied around it, and, you know, then it wouldn't have felt authentic to who I am. And so I think that's important. You know, when you're listening to us today that you're thinking about that. But for me, it was about and I know this navy sounds corny, or but it was about who I became, on the journey to netting a million dollars, like I, from where I was, to where I am, I had to become like the next version of myself at each one of the different kinds of benchmarks, you know what I mean? I, I had to continue to uplevel. And I'm still like, there's the next version of me that I'm firing to be right now, this isn't a, you know, there isn't a a, a finish line. This is not the finished product, no way baby, there's no

Unknown:

wow, I, I can't wait to see the finished product, or the next version.

Unknown:

But that's that's what this is about. And so for those of you that maybe the idea of netting seven figures a year, sits weird with you, you know what I mean? Or doesn't resonate with you, you've got to understand, too, that it's about what seven figures a year can do for you, for your family, for the people you serve for your purpose, as you mentioned, John, it's about, it's about those things, it's about freedom, it's about freedom, with your time freedom to make decisions about your life that don't involve money. I mean, it'd be amazing to be able to make a decision and move a chess piece around your board of life, and not be Yeah, if we can afford to do that right now. Or maybe like to be at that point where all of your decisions you're making, or you're making in the best interest of you and what's right for you. And money isn't even a factor, or part of the deciding factor in whether you're going to move forward with it with that or not, that's part of the freedom of this too. You know, I tell you, I, I feel so, so blessed to be at that point, you know, Ginger kids, me, she says she knew you're like the president, you buy whatever you want to buy, you never because she handles, you know, all the accounting and brighten the checks and all that. And, and I've thought about that often that, you know, through most my life, I had to be concerned about what I spend and now many has no meaning at all, to me. And I'm feel blessed. And in you know, the other sort of point I wanted to say is that I know this about myself, and you, you know, we're no different than our audience. Really, you know, we're bride, okay. But there's a lot of bright people out there. And I look at our clients, and they all sort of don't really firmly believe they can do it because of course they don't. Because until you do it.

Unknown:

You don't know that you can do it. But I'm just saying to our audience, and again, you got to be an entrepreneur, I doubt you're gonna be making a million a year net if you're working with somebody, but if you're an entrepreneur, you may not think you can do it. But I'm just telling you can and it starts with controlling your morning mindset. Your your morning routine is going to determine where your life goes, right? Yep, it sets the entire tone for your day. The entire tone for your day happens first thing in the morning, you know, and that's why with the 12 method, the 12 minute a day methodology why that's so critical because it's, it's, again, getting your subconscious mind

Unknown:

aligned for the day, you know, your reticular activating system is laser focused and look is looking for the things that it needs to be looking into and bringing into your awareness, you know, that are going to serve what your goals are, which is what you are also reminding yourself up of each day when you're reading this 12 minute a day methodology. So it is the primer, that sets the tone for the entire rest of your day and just critical. You know, that is the linchpin. Well, and you know, the, the reality is, and I don't know that we've always done a great job of explaining this, but this is so simple, it hurts 95% of your daily actions are unconscious, you know, either you either buy that, or you don't buy it, you can go Google it, if you're not sure about it. But I'm telling you is true. But but if you can grasp that one thing and think about it, it's a game changer, because I see what happens. Oftentimes, when I talk to people about it, they hear it, and it goes in one ear and out the other. And they go, Wow, that's interesting. Yeah, that's, that's cool. But they do nothing about it. Whereas, you know, when I got that, from reading, thinking Grow Rich, initially, I'm like, this is a game change, this die. Now I get how profound This is that 95% of my daily actions are unconscious, because

Unknown:

my daily actions are determined my success in each area of my life, and I don't control it. And in yellow, that's it evolved, I saw I controlled my intentions. And it's through that morning routine, that you create the repetition, that the subconscious mind needs to influence those unconscious daily actions, but but at the end of the day, it all comes back to 95% of your daily actions are unconscious. And when you get that your life is never the same, I think, yeah, no, absolutely. And I want you to be thinking about this as you're listening is, so your subconscious is, those are your current gifts, unless you're pro, you're, you're reprogramming this, and you're, you know, setting the tone for it every day. Your subconscious is there, your current habits, you know, the other your current patterns, they're the stories that you tell yourself about yourself. They're all that baggage that you've got that you've been dragging around with you forever, and the grooves on the record player that just keep it's, it's, it's those things. So if you've got stories about money, and what money means, if you've got stories about yourself that man and every time I hit this level, I just can't seem to get to the next thing. If that's what's running on your subconscious right now on your you know, in that autopilot, so unless you are doing something to inform it and to re format that subconscious from your, the way you've been thinking about life, to the rewiring to work yeah, and into where you want to be going. And the habits that you need and who you need to be to, to show up as that version of yourself, then you're it's practically impossible because that subconscious is so powerful, that unless you're doing something to actively influence it and be intentional about it, man, you're making it about seven figures harder than it needs to be.

Unknown:

If you're not doing anything about it with your morning routine, then then you're you're innately wired for survival and your fear based and your reactive. And so, you know, it's this, this just seems so simple to me that that ultimately your life is determined by your, your morning routine.

Unknown:

And you know, one other thing I think that was interesting when I turned 50, I saw as materialistic as it was that I had to start netting seven figures a year. And that's all I thought about I thought, you know, I don't know what my, what type of nest egg I need. But I do see clearly I got to start netting seven figures a year and netting two or 300,000 a year in and cut it. And so off I go.

Unknown:

But you know now in coaching clients and I think I hit this after I started netting seven figures a year. I'm like, Well, what is the number? What is the number I've got to have after tax that will allow me to never have to work again and have freedom. And and I came to realize and I think this is true with a lot of people even today that the magic number is around $5 million after tax. Plus you got to have your your house paid for. Now I wanted a nice house, you know, maybe a $4 million house. Back then and

Unknown:

And so that's 9 million after tax, which meant I had to make $15 million.

Unknown:

Well, if you'd told me that when I was 50, and I was had a history of making 200,000 a year, I'm like, Oh my God, you mean, I got to not only now take my income to netting of over a million dollars a year, but I got to do it for like, 15 years. I'm like, wow, that that is feels like too high a

Unknown:

mountain to climb. But what I realized is that once you start netting that first million, netting multiple millions is inevitable. And I remember hearing Brian Tracy talk about this. And he says, the netting of the first million is the hardest. Netting future millions is inevitable. Yeah. And that's always stuck with me. And boy, I saw it to be so true. But if you've never met netted a million a year or even come close, boy, that's how it works. You get the the the flywheel spinning. And, and I know for me going from $200,000, initially to 1.5 million was infinitely harder than going from 1.5 to 5 million. I mean, it was like way, way ways here. So just so you know. Yeah. Just look forward to everybody. Yeah. Yeah.

Unknown:

So I guess the takeaway from from this is, first of all, you can net a million dollars a year and you know, if other people in your industry are doing it, why can't you always got comfort in that, but I think that's the first takeaway is that it's possible. The second takeaway would be, it's way more than about the money it's about. It changes your relationship with yourself. And that changes your relationship with everybody else. As a thing else to add to that. I couldn't have said it any better myself. So let's just mic drop on that. Okay, that sounds good. Okay, we'll see you next time.