The "F" Word

What's going on? It's Jesse Ecker, and today I'm talking about the F word that is maybe holding you back from reaching your full financial potential. Now, as many of you know, my dad is T Harv Eker. And working with him for the last eight plus years, while also growing up with him, I've learned so much about his concepts and principles. And today's video is a showcase of more of his concepts and principles that I want to share with you. One in particular comes from one of our most famous web classes, Zero to Multimillionaire. If you're interested in learning all the different principles that Harv teaches on that class, click the button below or the link in the comments below and just register for that free web class if this resonates with you. So I think one of the main reasons why I was able to succeed so quickly at a young age is, is because I took advantage of my mentors and my coaches and the networks that I had. I didn't just sit back and let things happen to me. I made things happen for me. And one of the blessings that I would have been able to have was been able to work really closely with Harv for the last eight years. And I've just been a sponge with him. Everything he's saying I'm learning. Everything I'm learning from different books and podcasts and all the different mentors that I've linked up with, I've just been a sponge and very humble with what I've been doing and just going at it and working really hard to learn the commonalities between all these successful people. And one thing that Harv taught me from a really young age, which I didn't really understand until I was in my really working career and starting to get out of my struggles of jumping from thing to thing was this one word, the F word. And that word is focus, focus, focus, focus. Now, there's this, you know, people want this thing called multiple streams of income. And I think there is this misconception where multiple streams of income is supposed to happen with the different businesses that you can possibly get in. But here's the thing. When you are in a business and you are grinding in that business or hustling in that business or doing the day to day with that business, if you're not 100% focused in that business, you will never be as successful as you possibly can. Now, do you need to be focused in that business forever? No. There is a strategy for how you should focus. And when you can start to alleviate yourself and go to start focusing on something else or diversify or go into something different. Now, there's two different parts of this. The first is the misconception of the multiple streams of income. So there's two types of income, active income, passive income, they're different. Active income is income that you work to actively bring in. So if your business requires you to work for you to actually make money, that would be active income. Passive income is something that you do maybe upfront work for or you have someone else doing work for, or maybe it's an investment firm that's doing the work for you and you're earning income without the direct proportion of working. So you've maybe done some work before and you're reaping the dividends and the reward after. So when we talk about multiple streams of income, the misconception is that it can be multiple streams of active income. And the truth is, for the first little bit at least, that is just not possible. You can definitely do it. But your active income is going to be minute and you're going to struggle and, and you're going to be stressed out. If you're focused on having multiple streams of active income. What people are really referring to when it comes to multiple streams of income, it's multiple streams of passive income. Because what can happen is your active income is where you make your bulk of money and you use that active income to invest in passive income. Multiple streams of passive income where you're not working for money. So your focus, the majority of your focus is the active income and, and you let other people like manage your passive income, or you have the law of maintenance where you're maintaining your passive income investments. Okay, so the reason why active income is so, I guess, important to focus on is because when you're starting a business or we're going through business and it's not at its full potential, it needs 100% of your focus. When we are starting a new project, my sole focus goes on to the new project. And this is how we operate. So basically we say, okay, this is what we want to do. This is a new project. This is a new system that we want to put into our business. What ends up happening is I go and dive in completely headfirst into this project. I started from A to Z. I do everything there is to it, I test it, I go with it, I make corrections, I prove the process, I can start to scale it up. And then once it gets to a certain level where we can trust it, then I Put someone into it to run it and then I delegate that to them and then they're managing it and then I can step out of it and go and do something else. Until you actually have a proven process that you can put and replace yourself with or, or majority of what you do replace yourself with, then you cannot step out of something yet. So one of the biggest mistakes that people really make when it comes to diversifying is they don't have anything proven in a systemized way yet for them to actually step out and go and diversify into. Yet people say, well, what about Richard Branson? He's got 100 different companies, right? Well, Richard Branson has a process for bringing in the best of the best to run his companies. Richard Branson is not the CEO of his different companies. He's not the executive chair, like the full on executive board. He brings in qualified people to come and start the company for him. He has the vision, he's the visionary. He obviously is very involved, but he's able to let the people that he hires do the actual work. If you're the one doing the actual work, you should not be diversifying because your focus needs to be there. If your focus is not there, you're going to struggle. And the reason is because you need to focus 100% to actually succeed. It's not a walk in the park to just make a million dollars. You, it's not a walk in park to make $100,000. You need to put the work in, the energy in, the effort in and the focus in. So if you are not doing as well as you want to be doing, then my suggestion is to look at what you're actually doing. If you're spreading yourself out too thin, it's because you're not focused on the specific things that are going to make you the most amount of money. So one of the things, one of another principles is a really great saying that I live by now. And it's something that obviously I heard from my father, Harv, but I also heard it from another very famous, well known business person, Keith Cunningham. And both of them say, it's not what you do, it's how you do it. And let me say that one more time, it's not what you do, but it's how you do it. So if you're taking a proven strategy, a proven principle, and you don't get results on the first time that you did it, guess what? It's not the principle or the strategy that's faulty. It's how you did it, it's faulty. So if you go and now try something new and you take your focus off of what you did, we just wasted your goddamn time of what you just did, there's no reason for you to jump to the next thing if something didn't work the first time. Gut check. Most people do not get a one hit wonder their first time. Most people are not overnight success from trying something once, trying something twice, trying something three times. The successful people know, and successful people know, that when you first are starting something, you're trying to prove it, you're trying to test it, you're trying to get as much data as possible so that you can prove your hypothesis or prove your thought process around it, that it works. If you see some glimmer of light and you see that there's some hope and then all of a sudden it didn't work as well as you wanted it to and now you're going to the next thing, you just wasted a huge opportunity. So the way that you succeed in business is, is you focus, you focus, you focus on what you're doing, you focus in your business on the strategy and the principles and the products that you are going to be the best at all, right? So what we're seeing in the market right now is the people who are focused, who are specialized, who are going deep with their customers, are reaping the rewards. The people that are spread thin and that can do everything for everyone are not because they are not specializing or focused in one dimension or one thing that's going to really help someone succeed. So that really helps someone solve a problem. It's really hard to be the generalist that's really good at solving everyone's problems. It's impossible. We want to be deep and we want to be focused, right? So I want you to think about yourself. Where are you spreading yourself too thin? Where are you jumping from thing to thing to thing, from strategy, from strategy, without really correcting and continuing what you're doing? When I say correct and continue, I mean, you look at what you did, you look at what worked, what didn't you correct, what didn't you try it again with the things that worked and trying something new with didn't you look at it again, you say what worked? What didn't you look at it again and do it again. And eventually if you don't give up, if you keep moving forward, if you keep progressing, you will be successful. And that's how it works. It's not, let me try this. If I don't hit A home run. Oh my God, it didn't work. Let me try this. Let me. If I didn't hit a home run, it didn't work. That's not how it works. We need focus, focus, focus. And that's today's principle that comes directly from Harv Eker T. Harvoker. And it's just something that is so, so powerful, so simple, yet so many of us get confused with, you know, with what we're actually doing because we have this thought. We see other people on social media, we see things happening of like, oh my God, this person's so successful doing what is one thing. Oh my God, there's another person who's really successful doing this other thing. And I'm going to just try it all because maybe, you know, something will stick. Well, it just doesn't really work like that. So it's not what you do, it's how you do it. So pick one that resonates with you fully. Pick one that you feel like you're going to have the best chance in, that feels good for you, that you feel like you have the knowledge and the skills for and focus on it, go deep in it, take the correct and continue and start to build it. Build your active income so that you can then diversify with your pass passive income and become financially free. I hope this video was enlightening for you. Whatever you got from it, I hope you take away something massive from it. I hope you really focus on what you're doing. This principle of focus is one of the six principles Harv talks about on a zero to multimillionaire web class that's completely free to attend. This web class talks about the differences of what Harv did when he was broke to to when he was really rich. So he Learned Obviously hindsight 20 20, the six differences that made the difference from him being struggling and broke to extremely wealthy and financially free. And he shares those six differences on that web class. If you're interested in attending that free web class, all you need to do is click the link below this video or in the comments below there'll be a link and go ahead, register for that web class. Find a time that works for you and enjoy it. Thanks so much for watching this video. I appreciate your time, I appreciate your attention and I'll talk to you soon. Bye for now.