Do you have what it takes to achieve financial success?
Barbara Stanny in her book “Secrets of Six Figure Women” explores the strategies that financially successful women – from entrepreneurs to corporate executives to freelancers and part-timers — employ to reach their highest income potential.
According to the author, here are the eight secrets of six-figure women:
1. Financial success is possible in almost any field, and lack of education doesn’t have to hold you back.
While there are careers that will never really make 6-figures such as kindergarten teacher or a nun, there’s really no reason why women can’t earn 6-figures if that is what she wants. Education may for some open doors to better opportunities; it is not the sole barometer of success. Even those who haven’t even finished high school can make a lot of money as long as they are willing to try things that others think they could never do.
2. Working hard doesn’t mean working all the time.
High-income earners are exceptionally hard workers. But working hard is not necessarily measured by the amount of time put in, but more the intensity of focus. It is about working smarter, even knowing when to stop and relax before they wear out
3. Focus on fulfilling your values rather than financial gain.
While money is important, it is not the sole motivation for success. Six-figure women earners are driven by a vision of their lives based on their cherished values – e.g. recognition, security, challenge, or independence.
4. Loving what you do is much more important than what you do.
Passion is more important than what you do or how hard you are working. If you love what you do, the work will feel more like fun, play and inspiration. And when you are having fun and loving what you do, money is easy to come by.
5. Feel the fear. Have the doubts. Go for it anyway.
Women who earn 6-figure income have a strong belief in their own selves. They are supremely confident. However, a strong belief in one’s self doesn’t necessarily mean that there is an absence of self-doubt. They experience fear, but instead of running away from their fears, they embrace what they fear the most and just plod on.
6. Think in terms of trade-offs, not sacrifices, to find a workable equilibrium.
Women are constantly faced with work/family dilemma, and they are constantly balancing these priorities.
7. Sometimes you just have to shrug it off and have a good laugh.
When women are at the top, they sometimes experience prejudices. Instead of losing their temper, perspective or footing, this is one problem that it may be best to just have a laugh.
8. Appreciate abundance.
Six-figure women appreciate what money could bring to their lives – and embrace it. Money can afford high-income earners with opportunity, freedom, and well-being.
While none of the above will put more zeroes on your paycheck, but in combination with the appropriate strategies, they become a formula for financial and personal success.