Mr. Tadlock was the 5th speaker out of 7 at the 2017 National Achievers Congress in Seattle. He spoke about generating wealth through multiple streams of income. For a lot of people who have full-time jobs, I think the biggest step to improve their financial future is to focus on creating just one other source of income. As many people find out, though, once we realize that we can have 2 sources of income, it’s not long before we decide to have 3, 4, 10, etc…
“At age 34, he was a broke, out of work, personal trainer. By age 36, he became 100% financially free by creating multiple streams of passive income in the areas of real-estate, investing, precious metals, e-commerce, and creating one of the largest fitness boot camps in Orange County, CA.
Thomas has successfully led trainings for thousands of individuals, organizations and entrepreneurs nation-wide, including professional recording artists, models, and entrepreneurs. He is a master trainer for 3 different fitness companies and has been featured on multiple fitness DVDs. Thomas holds a master’s degree in Exercise Science & Health Promotion and 8 national fitness certifications.”
Takeaway #1 – When I say something, it means one thing; when you say it, it means everything.
Thomas set the tone with this statement. My understanding is that he was getting at the concept of buy-in. People can tell you day after day, year after year, that you should do something, but unless YOU think you should do it, you won’t.
There are many reasons that you could understand the advice but not take action on it. Here are just a few:
- You think it’s right for that other person, but not for you.
- You think you won’t be able to do it, or it won’t work for you.
- You think you could do it, but you procrastinate.
He was trying to get us to stop being spectators and start being players in the game. Like it or not, money is a game. It is sometimes a cruel and unfair game. And it is definitely one of the most complex games on the planet, but it has rules that we all need to learn and apply.
I already touched on one of the biggest of those rules that I’ve learned, and that’s to not rely on a single source of income. (This is also one of Warren Buffet’s biggest pieces of advice to the average individual investor.)
Takeaway #2 – Focus on the roots instead of the fruits.
Simply put, spend your energy building a strong foundation in whatever you do. If you’re building a business, learn the fundamentals. Focus on making a great product, providing awesome customer service, and giving people more than they expect.
He translated this same saying in a few ways. One of those is that our mental, emotional, and spiritual states are our roots, and the physical result of our environment is the fruit that follows. Therefore, if we cultivate strong roots by learning, staying centered, and working hard, the results will follow.
Another way he talked about this… Thoughts -> Feelings -> Actions -> Results. If we start with our thoughts, they drive how we feel, what we do, and ultimately what we accomplish. This is the power of your brain.
He said that there are three main methods of conditioning our thoughts, so we can achieve the results that we want. After reviewing them, I realized they are just another form of the 3 types of learning:
- Verbal – what we hear (Auditory learning)
- Modeling – what we see (Visual learning)
- Incidents – what we do (Kinesthetic learning)
From his talk, then, what I took away was that we need to use all three of these methods to condition our thoughts to get what we want in life. And this leads into the 3rd takeaway…
Takeaway #3 – Your mind is the thermostat of your life.
If you believe that you are a poor person, and you win the lottery, you will temporarily have a ton of “fruit.” But, if your roots (self-identity, skills, motivation, network) stay the same, then your life will regulate back to where your mind thinks you should be. There are many examples of this exact scenario playing out.
It’s hard to keep my mind set to perfection, and I’m sure you’re no different. But this was a great reminder of one of my favorite quotes:
“Whether you think you can or whether you think you can’t, you’re right.”