The First Step to Rich



What is the difference between those who enjoy business, personal, and financial success for the long term and those who do not?


The SBA reports that half of all businesses will close within their first 5 years, 70% will close within 10 years, and a mere 25% will be left standing come the 15 year mark. The outlook for employment security really is not much better. Even when you consider mature, stable adults, 31% end their jobs in 1 year or less, and 65% will end them in 5 years or less.


As the years go by, your chances of failure go up. Yet despite these statistics, many people do continue to thrive regardless.


So what are the wildly successful people doing that most of us are not?


Before I answer this, ask yourself the following:


·        What if you were doing the work you wanted and spending time with the people you wanted to be with?

·        How much time would you have left over each day if you did not spend half of it worried about money?

·        Where would you be right now if you knew not only how to attract money, but how to keep it flowing in your life to build the lifestyle of your dreams? 

·        And, most importantly, what if you knew the answer to the question, what is the purpose of my life?


The people who enjoy success in all areas of life do so because they possess one thing that most people do not:  CLARITY. 


The key to achieving the life of your dreams lays in knowing what you want and where you are going, not just in regards to your business and finances, but in your personal life as well.


In other words, it is a failure equation to lose one in the hopes of achieving the other.


It’s a lot like the “YOU ARE HERE!” star found on maps in shopping malls and theme parks


Without that little star, you would have no idea which way to go. You could end up wandering for hours, wasting time and energy and going in the wrong direction. When this metaphor is applied to your business and finances, we could be talking about hundreds of thousands of dollars wasted and years of your life lost to the wrong things.


Your FIRST step to clarity begins with creating your “Money Map”


When Shawn and his wife Krista started their online business, they were excited to have identified a specific niche. Things took off for them right away, and by the end of their first year, they had deposited over $300,000 in funds. The president of the bank himself came out to meet Shawn in the lobby, congratulating him on their success.


Six months later, they filed for bankruptcy.


“We were making so much money,” remembers Shawn, “We said yes to everything. The piece that was missing was what we had spent, somewhere around $400,000.”


Most people don’t want to take a close look at their finances. Either they don’t have the time, think it will be too depressing, or are afraid of the changes that may be required of them.


Truth is, not looking at your finances causes much more of an energy drain than the time it takes to get clear about your numbers. 


SECOND step: Design Your Life


Successful businesses start with a business plan; a successful budget begins with an income statement and a balance sheet.


What does a successful Life begin with?


You guessed it – the same principles that apply to financial success also apply here: you must begin by knowing where you are now and where you are going. This knowledge provides the compass to guide your decisions, your priorities, and behavior. It also dictates the budgeting of time, energy, and money.


When you don’t have clear direction, you go through life reacting to what happens. You work for money, spend your paycheck and pay the bills, all the while feeling restless and unfulfilled.


Most people don’t sit down and take the time to do the work of figuring out what they want


And it does require work.


Being rich doesn’t just happen.


Going back to that star on our map, until you invest time in getting clear about direction, any efforts you make are potentially superfluous. As Stephen Covey is famous for saying, you have to put first things first.


The FINAL step: Ask the Vital Question


“If you could spend your days doing what you love whether or not you received monetary compensation, what would you do?” 


Building a successful business and life warrants focused attention from the imagination. It requires that time be set aside to identify and form the bigger picture of what you want.


Only after you are able to see where you are going, who you are with, what you are doing and why you are doing it can you begin to take the steps that will get you there.


There is a lot of information out there about how to make money. Promoting a balanced life is also a hot topic. But I believe that in order to achieve success for the long term, the two must be planned for together. 


Are you willing to make some important investments in clarity?


Before you answer that, ask yourself the following:

·        Are you tired of living month to month?

·        Are you tired of being worried about paying the bills?

·        Is there a mission somewhere inside you, waiting to be discovered?


Money is the tool we need to help us achieve our goals. Success with money begins with getting clear.

Can you tell me exactly what is coming in and going out?

Success with your business and personal life begins with the same kind of clarity.

Can you tell me your definition of a RichLife?


About Beau Henderson

Beau Henderson is a financial advisor, author, coach, radio personality, and CEO of RichLife Advisors. He has helped over 3,000 clients to not just improve their relationship with money, but to live the life of their dreams.


  1. denny hagel on June 3, 2011 at 8:59 am

    This valuable information needs to be given to every newlywed couple! Great post Beau!

  2. Victoria Gazeley on June 3, 2011 at 10:31 pm

    These are supremely important ponderings, Beau – thanks for bringing them back into the forefront.  I've been fortunate in that my financial plan has unfolded pretty much as planned, but it never hurts to revisit it once in awhile. Thanks so much for the always valuable posts!

  3. Sharon on June 17, 2011 at 7:44 pm

    I like your idea of designing your life, that way you have more control on what happens. Interesting comment by Shawn were he spoke about how they said yes to everything. I understand that research shows that lottery winners usually lose all their winnings within 2-3 years and are often in more debt that before they won the money.
    Sharon Worsley
    4 Diamond Leadership ™

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