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Money-making opportunities surround us. Unfortunately, we’re not always trained to see them, even when they’re right under our noses. Some of us are not as financially literate as we could be. Others tend to be inward-thinking or narrow-minded. Whatever the reason, we may not have a mindset that naturally seeks opportunities to build wealth.
I’ve always had a knack for noticing trends and seeing opportunities, which is why entrepreneurship has worked well for me. But even I have to keep my “money magnet” skills sharp. It’s a fun exercise I’ve used over the years to get my wealth building creativity flowing. It’s easy to do, it takes a few minutes a day, and it’s like playing a game.
Spend a week doing this exercise, and you’ll be amazed at how tuned you’ll be to spot money-making opportunities everywhere. You can do it alone or with a partner, children or colleagues.
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How to do the money magnet exercise
- Choose a time when creativity is high. If there’s a time of day when you’re doing your best to innovate, that’s the time for this exercise. If you are working in a team, choose a time when the atmosphere is positive and everyone is energetic.
- Choose the amount of money you want to earn. It can be a hundred dollars, a million, a gazillion. Money can be a goal, but I find it’s more often a method by which we achieve other goals. Maybe you’re not looking for a specific dollar amount, but enough to grow your business, buy another franchise, take a vacation, or donate a hundred dinners to a food bank. For a fun and creative challenge, try a puzzle like “15 Ways to Earn $100.”
- Choose a time limit for your goal. This step is optional, but changing your goal time limit can make the exercise more enjoyable. If your goal is to make a million dollars, then in different sessions brainstorm ways to make a million in a year, a month, or even a day!
- Start writing (or dictating or typing) your ideas to complete it. You are looking for at least fifteen. If he could even remotely achieve your goal, no answer is too crazy, too simple, too far from reality, or too far off the beaten path. One of the benefits of doing this exercise with children is that they don’t see the obstacles. If you are working with others, remember that this exercise is without criticism. Don’t forget that if you work alone too! Every idea is welcomed.
- Limit exercise to 15-30 minutes. I would suggest producing an idea every two minutes. It keeps you from overthinking and prepares your mind to see opportunities quickly.
- If you get stuck, use the reverse brainstorming technique. Coming up with so many ideas can seem difficult at first. With practice it gets easier. That’s what the Money Magnet exercise is all about! However, if you find yourself stuck, try reverse brainstorming. It means turning the question around for a different approach. If you’re stuck on “how to make a million dollars in a month”, change the question to “my amazing invention is worth a million dollars”, or even “fifteen things that would NEVER make a million dollars”, because that also , can make your ideas flow.
How Money Magnet changes your mind and your life
Now that you’ve done the exercise, made your list, and had fun while letting your monetary creativity run wild. What happens next?
- You make thinking about your goals a daily habit. After doing this exercise a few times, considering creative ways to get what you want becomes natural.
- The more you play with this exercise, the more you will practice seeing real-world money-making opportunities. Your mind will be trained and ready to alert you whenever such an opportunity arises.
- Keep your list! After you have done the Money Magnet exercise several times, review the list. You can have brilliant ideas or ideas that can turn brilliant with a little tweaking. And of course, a good idea can change your whole life! Moreover, ideas have value even when they are not “awesome”. One can often deduce as much from a bad solution as from a good one. Sometimes we see a good answer by looking at a dozen bad ones.
- You practice a variation of the Law of Attraction by first defining something you want and then outlining a few ways to get it. Whatever you think of the forces at work in the universe, it certainly never hurts to think about exactly what you want and why.
When I need a boost for my opportunity radar, I incorporate the Money Magnet exercise into my morning ritual. I run it over to the breakfast table while having my coffee, and it sets me up for the rest of the day. This mini-meditation on wealth growth opportunities puts me in the perfect frame of mind to see those opportunities as they arise throughout the work day. Plus, I’m happily ready to receive what the world offers with a goal in mind and some exciting ideas for getting there.
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