From Scarcity to Abundance: Key Strategies on Achieving Personal and Financial Milestones with Sharon Lechter

0:00Assets are sexy and the older you get the sexier they become. Why are we crazy for screaming that out? Assets truly are sexy because it gives you choice. We're here with Sharon Lecter. She is the number one bestselling author of all time. Advise to presidents. Success, significance, impact, influence means that you're creating a positive impact on someone else's lives. I've never heard an answer like this on the subject of success day-to-day basis. Mark this time in history, I blew Brad's mind. So my first question, Sharon, is the amazing Sharon Lecter, one of my great friends and great teachers.

0:38What is success to you? My definition of success is how you feel about yourself when you look in the mirror. Are you living a life of significance? Are you impacting people in a positive way? So that's my definition of success. How you feel about yourself when you look in the mirror. What's your formula then for success? How does success happen? It really is P plus T, which is your passion plus your talent. And so for me, my passion came from anger because I was mad we weren't teaching kids about money in school. And my talent was over 35 years as a CPA, many, many years in publishing. And so most of us stopped there because we think we have to do it on our own.

1:18And I know you sing the same song. Business is a team sport. You have that power of associations. The next element is times A for association. power of association and then times a taking the right action so many times we know what we're supposed to do but we don't do it and then the final element is plus f faith and that's having faith in yourself having faith in what you're doing having faith that it's needed necessary and having faith that you'll succeed how does failure almost teach success i don't know anybody that's perfect. We all have to make mistakes and hopefully we learn from those mistakes so we don't repeat that same mistake over and again.

2:01And I tell people, a mistake, a failure is an occurrence. It's not a definition. I would not be where I am today if it weren't for all the mistakes I made before today and learning from them. How do we succeed at great thinking, positive thinking, whichever term you want to add to it? Particularly in my world of teaching people about money and financial education. So many of us were raised in an environment where we heard things like money doesn't grow on trees, pinch your pennies, save for a rainy day, we can't afford it, my most favorite one. And so I want to help people not just understand how to improve their credit score, not just how to get out of bad debt, but how to change their mindset from that scarcity mindset to one of abundance.

2:46So instead of saying I can't afford it, change your words, your vocabulary to how can I afford it? Because that opens your mind, it triggers your entrepreneurial spirit. And so your vocabulary, the words you choose that trigger your subconscious as well as your conscious helps you create a better, more abundant mindset. What's the key to success at influence? Absolutely. Influence, I also use the word significance. Because as I talked about success is how you feel about yourself in the mirror. You know, success, significance, impact, influence means that you're creating a positive impact on someone else's lives.

3:26And as I said earlier, your legacy is created every single day with every heart you touch. It's not what you leave behind. Create your own world of positivity, become your own beacon of light, and you will attract other people to you. You will become an influencer. What are the key success factors for wealth in life? How does someone have wealth and succeed at that subject? You're financially free when the income from your assets exceeds your monthly expenses. It doesn't have to be millions of dollars, but assets is the definitive word here, my favorite word on earth. We are taught to exchange time for money, and that gets us on the wrong path.

4:07That's the employee mindset. And it's so important to understand that your personal asset column is your business. You're personal. And so you're the CEO of your own life, whether you're an employee or not. Are you creating a foundation of financial freedom? I think we're in Vancouver, British Columbia, and you had me and a couple of hundred of my team screaming at the top of our lungs, assets are sexy. Why are we crazy for screaming that out? Sometimes people are so jaded in how they think that you have to figure out a way to open up their mind. And that kind of does it and gets people excited.

4:43because, and I always say assets are sexy and the older you get, the sexier they become because assets determine your quality of life. Are you still gonna have to work every single day? And something that's been so apparent in the last few years with the pandemic is, are you in control of your life? You're either in control of your money or money's in control of you. Assets truly are sexy because it gives you choice. You either lay down at night, frustrated, afraid of making payroll, afraid of somebody coming to take your car away. And so I want to help people move from that stress, that drama around money to one of celebration and confidence that when you lay down at night, you know that your family is taken care of.

5:27How does an adult get started or at least get on the right track of financial education? The first step is to figure out where you are. In doing that, you can find those areas of small things, those little wins. And some people have this giant, big BHAG, big, hairy, audacious goal, and it stunts them. They can't even take the first step because what they see is such a big goal. Let's divide that into little goals. And I also have the term little wins. Little wins feed you. They give you that motivation to keep going. All of a sudden, you're going to be a lot closer to your big hairy audacious goal because you've been practicing along the way having those little wins what's the key to getting from good to great was exactly back to the word that i've said a lot and that's power of association aligning yourself with the right people also making sure you don't align yourself with the wrong people and understand how you can go and expand exponentially increase what you're doing and so when we built the rich dad brand just like when you build Action Coach.

6:35You build the brand that other people want to align with. And that's what allows you to scale. They come to you. They write you the check. They want to take what you've developed and share it with their audiences. And that allows you to take it to the next level. You know, someone's already doing a million. How do we get them to think of a billion? Like, how do you change the M to a B type thing? You've always had massive, massive goals. How does that happen? There's a mantra that I have that I didn't share yet. When I made the decision to leave public accounting, I went from an employee position to being an entrepreneur, and I've never looked back.

7:13And it was because I said, why not? Why not do something different? Why not take the path less traveled? Why not find somebody that can help me accelerate? And that's what we're talking about when you're talking about going from a million to a billion. You have to accelerate. And in the world we live in, you know, speed to market is everything. And so you need to have the right people on your team, have the right audiences, figure out what is the problem you solve? What is the need you serve? And how can you find someone who has influence over that market that you can either use as an affiliate or use them as an influencer to support you in getting that?

7:50because they validate what you're doing. That's the importance of an affiliation, just like Disney validated our technology. Same thing in today's world. As you want to continue growing, who can you align with that can become a megaphone for your message, your product, your service? Don't try to do it on your own. Business is a team sport. All right, and thanks for joining us on the Big Success Podcast. I want to give you a free gift, but first, make sure you hit that subscribe button. subscribers, make sure we get a better podcast, build it bigger, and create more great content for you every single week.

8:27Now that gift, jump on bradsugars.com. You'll see the big success starter. It's a free video training course. Dive on over bradsugars.com. Let's get you building your success.