Most of us wait too long to start digging. Start today!
matthew henderson:
Good morning. So, when are you guys going to start digging your well? It’s Matt from the Business Mind Podcast. Today, we’re going to dig the well.
…All right. So I hope you guys have been doing amazing. I have been, and it’s been a little bit since I did a podcast. It’s probably been, I don’t even know. Well over a week, maybe closer to two. But I have just been really busy. So I couldn’t really get time to sit down and do a recording and give the content that I always want to give. So if I don’t have the time and I just can’t make it happen, I prefer to just wait and get you guys the good stuff when I can. So that’s why today we’re going to talk about when you are digging your well? And for those of you who are thinking, “I don’t know what the heck you’re talking
about,” that’s all right. I didn’t know what I would’ve been talking about either a couple years ago, so that’s okay.
Well, what I mean by it is we all run into points in our companies or when you’re starting something out or maybe you’re working, but you’re financially trying to start up a second business or, quote unquote, side hustles or a passive income stream, right? Because I am all about setting up
multiple passive income streams. And for those of you who have heard my story, I apologize to anybody listening on iTunes, because I have yet to be able to get all of my earlier episodes transferred over and added to iTunes. So if you haven’t heard my whole story, I’ll give you a brief synopsis. But a few years back, I was financially struggling quite a bit. And I’ve been working and I have my job, but as I’m trying to grow a business, obviously money is tight when you’re growing a business.
And I was outside actually cutting my lawn. I know, it sounds basic, but out cutting my lawn. And I started listening to podcasts. So that tells you how many years ago it was now. I’ve created my own podcast since then. But I was listening to a podcast. I was actually listening to Pat Flynn’s podcast, the
Smart Passive Income Podcast. And he had a discussion regarding passive income. And at the time I wasn’t really even sure what passive income meant. And little, wow, hard for words. It’s tough to get words out today. But not only did I not know what it meant, once I did understand it, I couldn’t come up with the idea of how to implement it into my life and into what I was doing. The thing was for me I actually had a little bit of extra time. I didn’t have any extra money. So probably in the same boat as most people out there in the world. And I definitely needed to make a lot more income.
So just to give you a reference, though, since that time I have doubled my income. So these aren’t just stories. But I have doubled my income since that point. And now I want to teach everybody else how to do that as well. And it doesn’t just have to come from promotions at your current job or,
wow, I’m saying, “Um” a lot today, huh? It doesn’t have to just come from promotions at your current job or, Jesus. Or working at different things at your business. But as I’ve explained in some recent episodes, it does come down to education. So now let’s get back on track to why I was saying when is it time to dig your well?
So in my situation, what happened was it kept slipping. And what I mean by slipping was my finances kept slipping, where I saw that I knew I wasn’t making enough money and I couldn’t figure out how to generate that next source of income at all. So I had a little bit of extra time, no cash. So that’s why I was actually outside cutting my own lawn, which, if you’ve read any of my emails, if you get any of my emails, or if you have been reading anything or listening to any of my podcasts, I actually hate cutting lawn. I know it’s no big deal, but I hate cutting the lawn. Anyway, I digress. But I want you to think about where I was and see if it’s somewhere where you are. You have a little bit of extra time in your day, like that time you’re sitting down watching TV. And you need to generate more income.
And that’s when I was listening to the podcast from Pat Flynn when he starts talking about passive income. And I realized that’s exactly how I needed to start making money. Now, the problem was is I understood the concept of how I needed to start generating more money. However, I didn’t quite know how to get from point A to point B. And by the time I figured it out, I had waited too long in general. I mean, my money was done. I was down and out, flat broke, unable to pay all of my bills in the same month, which is a huge problem when you’re a homeowner because there are a lot of bills and they don’t ever stop coming in. And that’s why I bring up the concept today of digging a well. There’s a phrase, you don’t dig your well when you’re thirsty.
And that’s exactly what I did. I wasn’t just thirsty. I was already falling over dehydrated and on the verge of not making it. And then I started to dig my well. And by digging my well, I mean, I’m either starting to create a new business that generates money, adding new skills to my skill set so that I can use those to elevate myself with my current business or at a job that you’re currently at, whatever it is. And that’s what digging the well is. You need to start elevating yourself, creating your business, learning that
new skill before you actually need the money, because when you need the money, it’s so hard to find anything to help give you cash to get started. The problem with starting to dig the well when you’re already down and out and you’re already thirsty is that you’re going to run out of energy, right?
I mean, if you’re actually thirsty and you have no access to water, if you wait until the point that you are tapped out. If you were stranded in the middle of nowhere and you waited until you were actually thirsty to start looking for water, the odds are you would die. You’re not going to make it. You might not ever find that water. Now, if you have water, you start looking for water. Well, the odds of success are pretty good. So that’s what I’m trying to create for everybody here is dig your well before you’re thirsty. Now I’ve been lucky in the past and been able to actually scrape by and limp myself into getting my businesses started. And it slowed the growth of everything. It slowed how long it would take for me to start generating money from the businesses.
And that’s why I want you to dig your wells before I did, because, for me, it was so difficult to try and get things going at a point where I didn’t have a dollar to spend to do it. But I didn’t have enough money to feel comfortable enough to not get something going. So that’s what I want you to do today because, just recently, some of the wells that I dug nine months ago actually just started filling up with water. And literally it happened this week. So I’ve been working on these things nonstop since then. It’s
been nine, 10, 12 months that I’ve been working on some of these things. Not seeing much of a result, but that’s what it takes. It takes constantly chipping away at stuff and digging a little deeper until you hit water. And that’s what’s happening for me.
I’ve been digging and digging and digging and getting concerned and even more worried. And the money keeps getting tighter and tighter. But, now I just started to hit water. So from this point on, now I can start to rehydrate, right? Just to keep with the analogy here, I can start to rehydrate while I continue to dig. And this is going to get a lot easier. It’s going to get a lot easier now to make my money. So today, that’s the goal. Start digging your well. Start figuring out where you have to get your money from and decide exactly what you’re going to do and how you’re going to get from A to B. That’s what’s going to give you success, because I waited too long. Don’t be like me. It was stressful and still has continued to be a stressful moment for me.
And I don’t think anybody should have to go through that. So here’s my tip for today. For those of you who are listening and you have a minute, if you could leave me a review wherever you are consuming this, whether it be on iTunes, Spotify, Google Podcast, anchor.fm. Anywhere that you’re getting this podcast, please feel free to go out and give me a review. I would love to hear what you have to say. If you have any questions or if you’d like some help from me, please reach out, [email protected]. I would love to help you get your business up and successful or get you started in your business so that you can get ahead and get your well dug today. All right, everyone. Have an awesome week and get out there and excel. All right, we’ll talk to you again soon.