Why am I getting smarter but not richer?

smarter and richer

Great question. Learning more does not make you richer, but if you combine new knowledge with understanding and implementation, you can get both smarter and richer. It will change your life in many ways – including financially. We also look at how artists and coaches can increase their income. You can be good and broke if you don’t know how to build your brand and reputation. 

Episode #670 – June 28, 2019 –

Hi, this is Dan Miller – and yes you’re listening to the 48 Days Radio show – where each week we take 48 minutes to dive into real life questions about finding your passion, deciding what kind of life you want to live – and then finding or creating work that allows you to show up every day, excited to be able to do something that is meaningful, fulfilling – and profitable.  This is where normal, indecision and ambiguity come to die.  Welcome to the 48 Days Radio Show.


I’m investing 3% in my personal growth but all I’m doing is getting smarter, not richer.

I recommend you spend 15 hours per week to build a side business. But don’t spend all 15 hours on gaining new knowledge. Here’s the formula I recommend:

3 hours – reading, studying and gathering new knowledge

5 hours – developing what you’re going to sell

4 hours – working directly with clients

3 hours – marketing your efforts

Find out more about this formula for building a business with 15 hours per week here.

Dan, I heard you say You can make a living selling people what they need, but you can get rich selling people what they want.” Would you elaborate further on that idea and how you have seen that play out over the years?

A great example is a coaching client I worked with this week, who is real interest in renewable energy. We looked at an item people want like a decorative windmill for their yards and how we can add lights to it that are powered by the windmill. This is an example of moving into the arena of things people want.

Even the products and services I provide (coaching, books, seminars, online communities) are things people want because it addresses a desire they have. Can people live without purchasing anything I provide. Yes. But they want to have a better life and change their family tree.

Check out the “Underwear” Blog Post here.

Can I just sell my art without showing my name?

So much of art is connected to the artist. It’s the story behind the art. If you’re going to build a reputation, you have to be willing to stand by your art (even if that’s a blog, a book, a landscape, etc.). Don’t waste your time trying to anonymously put your art out there. Are you going to experience ridicule and criticism, yes. But you can also get rewards and affirmations.

I’m a great coach – why am I not making money?

About 30% of your success will come from coaching well. The other 70% will come from building the business and marketing it well. You may need to write a blog, do a podcast or come out with a book to develop your unique niche in coaching.

Two resources we use with every coach going through our Coaching Mastery Program:

To find out more about Coaching Mastery, where we not only help you learn the nuts and bolts of coaching, we also teach you about the business of coaching (that 70%), click here.

I’m exploring the possibility of becoming a financial coach. Could you make a living at this or would it have to be part of some other business model?

Financial coaches who make money are selling products (insurance, stocks, bonds, etc.)

The people who aren’t selling products are doing it as a ministry or service. They do not see it as a way to provide income.

There is another business model. You can provide free information and assistance via a seminar like the weatherman or a podcast with help and assistance and get sponsors/sell advertising.

Get my Venn Diagram on how I make money coaching/speaking/writing.


“Investing in yourself is the best investment you will ever make. It will not only improve your life, it will improve the lives of all those around you.” ―Robin SharmaClick To Tweet


Dan’s formula for Investing in Yourself, no matter what your income is – 48days.com/invest

Work ideas for kids this summer

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