Home ENTREPRENEURSHIP How to Maximize a Winfall

How to Maximize a Winfall

by Nancy Hamilton

There are 4 ways to profit from the happy accidents of life

Sometimes the best things we experience happen out of nowhere. We don’t try to plan, find them or make them happen. They just appear. These happy accidents happen.

One of my team members told me about Montaigne’s life. It’s called How To Live, and it was a bestseller a few year ago. This is what’s really amazing. It all began as an accident.

Bakewell states that she discovered Montaigne when she was travelling in Europe. She found the only item she could on the train in English, a copy of his Essays. This was going to be horrible, she thought. But it’s not true. It was not only entertaining but also gave her the opportunity to take a different direction in her own life.

Similar things have happened to me in my own life.

A FATEFUL MEETING

Three years ago I spoke at John Maxwell’s event, ” a Day About Books.” This is a typical speaking engagement. I go back into my room to order room service. An introvert is the last thing that I want to do.

This time, however, I decided to have dinner with McLaren. I had previously met him at Blog World. To be completely honest, I was afraid of the meeting. I knew Stu wanted to pitch me for a job, but I didn’t think I needed another chance.

Boy, was I glad that I went ahead and met with Stu. It was a game changer in my business. More details to follow.

SERENDIPITY – REAL, BUT NOT ENOUGH

We all have those moments, regardless of our size or scope.

Serendipity is everywhere, whether it’s meeting our spouse or business partner, finding a new hobby, or discovering a whole new business idea in the shower.

Here’s the key thing. Serendipity alone is not enough. It’s not something you can bank on and it can lead us astray. How do we make the most these happy accidents?

4 WAYS TO MAXIMIZE THE WINDFALLS

My view is that there are at most four ways to maximize the benefits we all receive.

  1. Explore. The most enjoyable way is often the first. It’s all about playing, exploring, and researching.We are always excited when we discover something new. This is the perfect thing. This is the energy we need to feed our curiosity and learn the ropes.

    When I started blogging and tweeting and scoping, it was just me and my curiosity. There wasn’t pressure to make immediate decisions about the future. All of us are at this stage and the idea is just to look at the angles, find out what works, then explore the various ways we can make use of our wealth.

  2. Plan. Once we have that understanding, it’s time to be intentional. It is almost always necessary to have a plan and focus if we are going to make more of a profit. What are the steps to reach the next level?Once you have clarity about your next steps, it is time to set milestones and goals about how you will proceed.
    • When will you finish your proposal if it’s a new idea for a book?
    • What time will you prepare the plan for a new business idea?
    • Is it a new hobby? How do you plan to incorporate it into your daily life?
  3. Evaluate. Now is the time to weigh all the pros and cons. We have only 168 hours per week. Addition of one thing often means subtraction of another. We must consider the opportunity cost.If the windfall has a significant effect on our careers or families, we should also count the switching expenses. What will this mean for our professional, personal, and relational lives?

    When I decided to quit my job as Thomas Nelson’s CEO to become a professional speaker, writer and author, I had to answer these questions. At first, blogging and speaking were more of a hobby. Later, they became side-lines and profitable. They became profitable sidelines, but I was still secure in my day job. Choosing to quit was a significant risk.

  4. Flex. It all comes down to our willingness to take a different path if needed. Or maybe we expect the windfall to be more than it is. Perhaps we’ve miscalculated the cost.

    Flexibility is key to adapting to new realities. While I had lots of fun on my daily Periscope show #VirtualMentor I realized that it wasn’t sustainable for my long-term goals. So I switched my approach.

    But here’s the crucial part. Flexibility not only saves us time and energy, but it also opens us up to better opportunities.

    Although I love public speaking, travel is expensive. When I had my fateful meeting with Stu, he informed me he wanted help me launch a member site. It was then that I realized I could retool and retool the business for online instruction and training.

    Platform University was the result of that decision. Five Days to Your Best Year Ever followed. It has had a profound impact on my professional and personal lives and has helped tens to thousands of people. Stu has also become a close friend and trusted advisor. He is also a partner in many of the businesses I own.

THE DIFFERENCE ELECTRICITY LUCK AND LEVERAGE

Surprise blessings, lucky break, happy accidents or whatever else you wish to call them, are all common. How do we make the most out of these blessings?

It begins with channeling your enthusiasm and enthusiasm, making a plan, and then weighing the cost. Finally, staying open to changes. It’s what makes the difference between luck, leverage and failure.

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