Guide to Wealth Creation & Entrepreneur Success

Prioritisation: The Key to Scaling Your Business

When you're in the start up of your business phase or going from zero to six figures, you have to do a bit of everything.

You have to juggle many tasks. You can't be too selective. You need to put some money in the bank and get the tanker moving. However, this becomes chaotic, overwhelming, and you create a lot of admin from scaling up a business, making more sales, and having more customers.

So you can become a victim of your own success, where you:

• Make some money and put some cash in the bank
• Drown in admin and low priority tasks
• Let those tasks get in the way of what made your business successful: sales, marketing, and generating cash

So there comes a time in your early business journey, where you need to get very good at prioritising. And the best way to prioritise, in order to scale a business from six to seven figures, commercially focusing, is on HVTs and IGTs.

The Three Types of Tasks

High-Value Tasks (HVTs): Generate significant long-term value, such as strategic planning or forming partnerships.

Income-Generating Tasks (IGTs): Directly result in revenue, such as sales and marketing. Your goal is to ever increase your income-generating time tasks. Why do a $20 task when you could outsource it for $10? And you could replace that same unit of time, doing a $500 or a $5,000 task. Income-generating tasks are tasks that put money in the bank.

Lower-Value Tasks (LVTs): Include admin, onboarding, or processes that are essential but generate minimal revenue. These should be outsourced or automated. You need to pay people who have a lower cost than you to do these lower-value tasks, or have system software and processes to manage them.

These could be money-saving, money-making, revenue-generating, sales, marketing, upselling, cross-selling, referrals, partnerships, collaborations, and then high-value tasks or highest-value tasks are the tasks that can generate income or generate income later.

How To Prioritise For Financial Growth

There's two types of money:

• Money-today: Cash in the bank now (from IGTs)
• Money-tomorrow: Future income from asset building

Examples of some of the best money-tomorrow tasks:

• Forming collaborations and partnerships
• Negotiating contracts
• Building effective software solutions
• Writing best-selling books
• Launching and creating content for membership sites
• Business planning and recruitment

When Jeff Bezos was being interviewed, the interviewer said that he'd had a good quarter. He said, “I knew that five years ago,” because of his long-time horizon planning.

A common trait of the richest people in the world is they have a long-the-longest time horizon. If you have a time horizon planning decades into the future, which is a high-value task, you're highly likely to become extraordinarily wealthy.

Now, you need to do an exercise:

Note your 3-5 highest value tasks:

• Collaborations and partnerships?
• Recruiting top senior talent?
• Developing intellectual property?

Then list your income generating tasks:

• Consultations?
• Hiring a sales team?
• Launching new products?

Everything else:

• Delay it
• Delegate it
• Delete it

How To Use Money Effectively

Money is a tool for:

• Leverage
• Speed
• Enabling growth
• Exaggerating your positive traits
• Buying assets
• Securing your future
• Protecting against uncertainty
• Freedom and control
• Insurance and guarantees

When you understand this, you can notice your strong feelings about money. You can calm these feelings and stop judging them.

Then, you can use this knowledge to attract more money. This will help you have more money flow through you. Remember, the more you make, the more you can give.

Building Multiple Streams of Income

The average millionaire has between 3 & 9 income streams, depending on the source of your information.

They certainly have more than one, unlike most people who only have the income from their job.

The Right Way to Build Multiple Streams of Income

The problem is, most people build multiple income streams the wrong way and end up with no income streams.

The wrong way to build multiple streams of income is to:

• Start 3-5 income streams at the same time
• Spread yourself too thin across multiple business models
• Can't gain any momentum or compounding
• Lose time in distraction and task jumping
• Become overwhelmed, and unable to focus
• Can’t be specific with your targeting or attract a specific client type
• Won’t have brand equity

The right way to build multiple streams of income is to:

• Develop 3-9 over 3-10 years+
• Focus on one main idea/business model/niche
• Get good and earn well in one vertical within that niche to begin with
• Add additional income streams from the same niche over time

Examples of Wealth Creation Through Income Streams

Phase 1: The First £100,000

• Worked for a property sourcing company, finding property deals for others
• On evenings and weekends, I started sourcing properties for myself

Introducing the 70/20/10 Rule

A twist on Pareto’s 80/20 principle:

• 70% of time = Main income stream
• 20% of time = Secondary income stream
• 10% of time = Future ideas or setup

Phase 2: Shifting Into My Own Business

• 70% = Sourcing properties for others (my main job)
• 20% = Sourcing properties for myself on the side
• 10% = Researching how to start my own company

Phase 3: Becoming My Own Boss

• Launched my own property sourcing company - this became the new 70%
• Continued sourcing for myself as the 20%
• Started writing books and course materials (future 10%)

Phase 4: Growth and Expansion

• Training courses became a major success, generating over £250 million in sales - these became the new 70%
• Personally invested properties became 20% (345 properties over time)

Additional Income Streams Developed Over Time

From one model (property), we also made millions from:

• Property management
• Property development
• Business and property education
• Insurances
• Referrals
• Property networking events

All of these ventures were built off the back of one business model. This is the most sustainable way to build multiple streams of income over time.

Doing Hard Things: The Secret to Success

If it’s hard now, it’s probably good. Millionaires consistently tackle hard tasks. They deal with:

• Sales rejection
• Firing staff in uncomfortable situations
• Criticism and haters
• Legal cases and disputes

Successful entrepreneurs don’t avoid these challenges. They face them head-on. Hard tasks lead to growth and success. Over time, what once seemed difficult becomes routine, and new challenges are sought.

Strategies for Tackling Hard Tasks

• Start your day with the hardest task (Brian Tracy calls this “eat the frog”)
• Build momentum early by securing wins
• Confront sticky situations directly to minimise stress and save time later

Why Doing Hard Things Pays Off

Hard tasks:

• Build resilience
• Helping you stand out from others who avoid them
• Lead to growth, breakthroughs and milestones - e.g. a million to the next ten million

The bigger the risk, the bigger the reward. Hard tasks are essential for wealth creation and entrepreneurial growth.

Key Takeaways for Wealth Creation

Prioritisation Is Key

Focus on high-value tasks and income-generating tasks to maximise productivity and financial growth.

Understand Money’s Role

Treat money as a neutral tool for leverage and freedom.

Build Strategically

Develop multiple income streams within a niche over time, applying the 70/20/10 rule.

Embrace Challenges

Tackling difficult tasks is essential for success and long-term wealth creation.

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