Oct 28, 2020
Welcome back to the Catapulting Commissions show! Our guest today comes from a world-class background. Less than 1% of all football athletes end up in the NFL, and Jedidiah Collins is one of them. He spent several years in the league where he experienced massive growth on every level. From there, Jedidiah went on to become an expert in personal finances and an author. He’s an ESPN writer, keynote speaker, and commission guru, and he’s here to share with us his unique message.
Their first topic surrounds having the correct mindset. Going from undrafted to a top player in the NFL doesn’t come without a dedicated, special kind of drive. Every good journey starts with the end in mind. The journey is only as good as it’s destinations, Jedidiah says. The number skill for success in every aspect is your ability to value what you want more over what you have right now. Continually prioritizing goals over what’s in the moment is key. Jedidah was cut from teams 12 times--not unlike getting turned down from a sale. It hurts, but there is a lesson--every locker room you leave, you have to steal knowledge from someone there. There were three words in every locker room: Be A Pro. It has three aspects, all having to do with your name. Write down your name and attributes you want to be associated with your name. When other people see your name, can they trust it? When people who don’t know you see your name, do you still bring value and give them a reason to know it? You get paid to perform. If you don’t perform, you get cut. The better you perform, the more you get paid.
To keep fighting, it takes sacrifice. Jedidah says it’s a measurement of opportunity cost. This is the value of what you did NOT choose. Every decision you make should be made with your eyes on the prize. Having the ability to understand that there will be things that prevent you from reaching your goal and dismissing them is a vital skill. Build a process that begins with planting a yardstick in the future.
Jedidiah created a process called “The Money Vehicle.” This is the definition of how the finical industry has changed over the past 30 years. People in the past had a simple plan--find a good job and stick with it and you’ll retire at 65 with a pension. Jedidiah doesn’t believe that anyone will rely on that anymore. For too long, we’ve seen money as the destination. That’s not the goal. Money is the tool--it’s a verb. It’s what’s going to take you to a destination. Out of this mindset is the “Money Bucket System” that gives you a cash management system. There are five choices everyone makes with every dollar they have--five places where those dollars go. Society, Past, Present, Future, and Compassion. The world we live in--taxes, anything due before the frist of the month, the day to day things that go through your mind, if you want money to play with, save it for the future, and who or what you can impact other are all places you put your hard-earned money towards. You can automate this and build these choices into your day.
It’s about putting your money to USE. Understand, strategize, and be efficient with your money. These tips aren’t the end of the journey, but the first steps. Building levels to your finance will set your future self up for success. Start looking at where you feel overwhelmed, and approach it with a new mindset.
Things you’ll learn:
In today’s episode, Jedidah Collins shares his story from Rookie to Veteran and the things he learned along his journey. He breaks down the mindset it took to overcome adversity and translate that to sales and financial success.