Being WEALTHY means 3 things:
a) FULFILLMENT: Being deeply fulfilled in what you do.
b) INCOME: Earning the amount of money that allows you to do what you want, when you want, and with whom.
c) IMPACT: The feeling you get when you know you’re making a big difference in the lives of many people!
WEALTH, when put this way, is easy to understand… but not so easy to create.
(Especially if you’re a heart-based, service-oriented type of person who cringes secretly when you hear that you have to SELL!!!)
But don’t worry! I’ve got a brilliant little formula that will make your journey to WEALTH faster and more enjoyable.
W = V x I
In this formula, the ‘W’ stands for WEALTH.
Unfortunately, most people have too narrow a definition for this word. Often, they equate WEALTH with money, only. But as I just said, my definition of WEALTH has 3 components: Fulfillment. Income. Impact.
So… how do you increase the three elements and consequently your overall Wealth? Let’s look at the other letters.
The ‘V’ in the formula, stands for Volume. In this context, VOLUME refers to the amount of people who get exposed to your message, your products, your programs and your services.
In other words… how many people are actually being served by you and the things you’ve created and promoted?
The more people you are serving… the more WEALTH you’ll create for yourself.
The ‘I’ in the formula stands for, ‘Intimacy’.
In this context, ‘Intimacy’ refers to your ability to make a deep, significant TRANSFORMATION in the life of any person that decides to work with you. In other words, when people purchase your products, programs and services – their lives are positively and significantly impacted!
So, there it is… WEALTH = INTIMACY x VOLUME
Now, here’s the GOLD!
“Your potential to create WEALTH is a factor of the VOLUME of people you get your message out to, times the INTIMACY you create with those people!”
Okay – let’s take it a step further. Let’s apply this formula in a practical way, so you can get a very deep comprehension of how to use it in your business.
Most ‘healing’ or ‘heart-based’ businesses have an inherent riddle; you can either help a LOT of people a LITTLE bit, or help a FEW people a LOT.
In other words, as the volume of people you try to reach goes up – it is often more difficult to make a deep transformation with each one of them. If you want to go deep, it is often easier to keep the number of people you interact with small. Does that make sense?
This seems to be the main dilemma.
The goal I want for you – and what we’ll discuss for the remainder of this blog post – is how YOU can have a HUGE (and truly deep) impact on a MASSIVE (or truly large) amount of people!
Stay with me.
In order to figure out how to do this (help LOTS of people in a VERY DEEP way)… let’s look at some very common ways of facilitating Transformation in your clients. We’ll apply our new FORMULA for WEALTH to each example and see how they stack up.
EXAMPLE #1 – “1-on-1 Sessions”
I got my start in business, as a personal ‘Life Coach.’
I worked with my clients individually, helping them find and create everything they desired in their life and in their business.
I was able to provide a TON of value during my 1:1 sessions, as I could really tailor each session to my client’s specific needs in the moment.
In other words, using our formula, the INTIMACY of the sessions was very high – but there was a severe cap on the Volume.
HIGH INTIMACY x LOW VOLUME
I helped my clients make a Deep Transformation during the sessions for sure, but I could only work with a limited amount of people in one week. There are only so many hours in a day, after all! So again, even though the Intimacy was high, my Volume remained low… and therefore, my WEALTH was also low at that time of my life. I simply wasn’t helping enough people.
In an effort to increase my wealth, I decided to up my Volume! I started to lead…
EXAMPLE #2: Teleclasses & Webinars
This is an extremely common occurrence for Coaches, Practitioners and Heart-Centered Entrepreneurs looking to work with larger groups of clients.
I don’t know about you, but I’ve been on a teleclass before that had 10 thousand people on the line at once! The Volume on teleclasses and webinars can be very, very high!
Unfortunately though, due to the distance and the fact that the level of personal interaction between the facilitator and the people on the phone/computer is low… the ability to deeply serve each participant is severely handicapped. (On that big teleclass I was on, I felt like a ‘number’ not a person).
LOW INTIMACY x HIGH VOLUME
To use our formula, the Intimacy on the teleclass was low, even though the volume was high.
1:1 Sessions have high Intimacy, but low Volume…teleclasses and webinars have high Volume, but low Intimacy. Both amount to a low potential for creating WEALTH!
So, what do you do?
Here’s my best recommendation…
EXAMPLE #3: LIVE Workshops
If you’re serious about maximizing your ability to create True Wealth through serving others, you simply must…Lead Live Workshops, Retreats and Seminars!
In my business, I lead workshops for as few as 6-8 people at a time… and others for as many as 200 people at a time.
The Volume of people I’m serving each year is very good… and, because each event is LIVE – the Intimacy I am creating when I am working with my clients is also very, very high!
I’ve found that leading Live Workshops, Retreats or Seminars is truly the SWEET SPOT where both the Volume and Intimacy can be kept as high as possible!
(Of course, the key is to design your events like mine! Make sure there is tons of personal attention, lots of coaching and mentoring, and ample Question & Answer periods).
When VOLUME and INTIMACY are high, so is your capacity to create WEALTH!
Workshops, retreats and seminars have the highest potential for revenue, impact, and personal fulfillment! Yee haw!!!
W = V x I
Whether you’re leading Workshops, Retreats and Seminars already… or you’re just looking to get that part of your business started… the next issue you’ll face is, “How do I fill my live workshops, retreats and seminars?”
Well, of course, you’ve taken a HUGE step in this regard by registering for my upcoming webinar entitled…
“Fill Your Workshops… with EASE!”
(Avoid the 3 Massive Mistakes Workshop Leaders Make
that Keep Their Event Rooms Empty)
On this Webinar, I’ll take you through the absolute best ways to fill your LIVE, group workshops!
Of course, what I share on the webinar will also help you fill your virtual events (teleclasses, webinars) and all your 1:1 sessions.
You will be emailed your confirmation for the webinar… just be sure to be on time and I’ll take care of the rest!!
I look forward to meeting you on the Webinar, and helping you create a whole lot more WEALTH in your life.
Until Then… BE BRILLIANT!
Callan Rush xo
Excellent article. I love your definition of wealth.