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The 5 Elements of All 6-Figure Earners

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6 figure earners

It’s easy to identify what differentiates the “mediocre” entrepreneurs from the ultra-successful ones. But merely identifying these elements is not even half the battle. You must execute upon them! If you have been following my work, you already know that I am super-tactical which is why I am going to give you five specific elements that you can immediately start using to clearly differentiate yourself from the “mediocre” to the ultra-successful entrepreneur.

With evolving technology and incredible competition, it’s time for you to level up, stop making excuses, and start moving through life with a sense of urgency like you know you’re capable of. Less talk, more action.

Your ability to change your business—and your life for that matter—begins in the mind. Once you are able to make that first mental shift in what you focus upon, you can start to take the necessary actions that will turn your dreams into reality. However, this is where most entrepreneurs fail. They learn what steps are necessary, mentally prepare to take those steps, but ultimately fail to take action.

Let’s face it, life is a game and it is all about the way you play it. In order to play a successful game in the new economy, you need to do more than just master your mindset to become a 6-figure earner. It is now time for you to develop your brand new strategy that incorporates these 5 crucial elements to help you start taking the actions necessary to become a 6-figure earner.

1. Compelling Vision

Create a vision so inspiring you can’t stop thinking about it. In fact, make it so inspiring it keeps you wide awake at night. Keep your daily focus and thoughts on achieving this vision. Once you have truly sold yourself on your vision that is when the magic starts to happen.

Write down your goals by creating a specific plan inclusive of the exact dates each one will be achieved. To help you get started right this second, download my one-page productivity plan. Remember, your vision should resonate with your true passions and must be so compelling that it drives you to action each and every day. Once you have the this clear vision in mind, everything else will start falling in place naturally.  

2. Sense of Urgency

Once you have your compelling vision, this should come naturally, but cannot be overstated—do EVERYTHING with a sense of urgency. From taking phone calls to making decisions to creating products and services, if it can be done today, get it done. Period.

Too many people wait on the sidelines to make a decision or make a move. What the hell are you waiting for?  The time will NEVER be just right. Super successful entrepreneurs are always thinking and doing actions that are two steps ahead of their competition. If you are not moving with urgency then you are already ten steps behind.

Once you are there, the holy grail of entrepreneurship then becomes getting your team to act with this same sense of urgency. Get them on board your bullet train, not stopping or slowing down for anything or anyone, and mountains can truly be moved.  

“Without a sense of urgency, desire loses its value.” – Jim Rohn

3. Multiple Income Streams

You have your vision and your sense of urgency, now apply that to everything. Not just to your one big idea but to every idea you have. This is where the fun begins. I have to tell you that it is absolutely incredible the number of entrepreneurs I have met that have built not one but multiple successful businesses in less than 12 months and you can too.

I worked hard to build my own empire and continue to do so each and every day, which as a result, I have had the opportunity to generate multiple streams of income in a wide variety of different types of businesses: The GameChangers Academy, Young Entrepreneurial Lifestyle podcast, world-wide speaker and mentor, Young Ambition clothing line, author of best-selling books including 6 Months to 6 Figures and The Entrepreneurial Blueprint, contributor to numerous world-class publications, active real estate investor, and the streams go on. I don’t say this to brag but show you how much opportunity there is out there right now.

Remember, the golden rule in business: “Cashflow is King”. The average millionaire has seven different streams of income. The key is to master one, before you start another.

4. Produce with Excellence

Having multiple streams of income means that everything I do and put my name to is planned, well-thought-out, and executed with excellence. I refuse to associate my name with anything that is not going to add massive value to my ever-expanding tribe and is not 100% congruent with my own vision for my brand.

This is why even the free content I make available to all of my loyal fans is produced with excellence and far exceeds the vast majority of paid-for-content put out by others. I make sure everything I do provides phenomenal value for those I impact, customers, and clients—you must do the same.

This dedication to excellence in everything that I do requires that both myself and my team makes every single minute count. There is a purpose for every task I undertake and a specific outcome for everything I do, both personally and professionally. Too many people put their name to mediocre and insanely useless material because it is easy.

Don’t do anything because it is easy. Pay attention to everything, you must be detailed oriented, and fiercely selective with what you choose to do and whom you choose to work with. Everything must be cloaked with excellence.

“Perfection is not attainable, but if we chase perfection we can catch excellence.” – Vince Lombardi

5. Right Now Matters

If you have come this far, you are already ahead of the pack. Now it is time to finish off the competition and distance yourself from others and more importantly from the person you were yesterday.  This is one statement I cannot reiterate enough and you must believe it when I tell you that right now matters.

You know how short life is, so do not waste your valuable time wallowing or hanging out with those that do. Focus on what you need to accomplish right now to achieve your vision, and make every single minute and each day matter. Track your progress and keep the wheels moving, in doing so mastery can be yours.

I challenge you to forget about the newest video video game, what sports game is on tonight, and what closet you were going to re-arrange, and start producing!  If what you are going to do right now does not produce income then do not do it. If you are serious and committed to your success, your next hour, next day, next week, next month, next year, next decade will be focused on these 5 elements.

Once you understand that right now matters, the rest becomes history. I want to help you cut your learning curve in half so I created a free video series on how to make your first $1,000 as an entrepreneur at 6m6f.com/1k.

Peter Voogd is a 2x Best Selling Author, and the founder of the prestigious Game Changers Academy.  He’s been labeled the leading authority on Gen Y leadership. He’s been featured in Forbes, Entrepreneur Magazine, inc.com, Time, HuffPost along with many other international publications.  He’s trained over  6,000 young entrepreneurs personally and his podcasts, videos, websites, and social media reaches over 1 million people monthly.  He’s known for his No BS approach to life and entrepreneurship.

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Success Advice

Why One-Size-Fits-All Leadership Will Always Fail (and What Works Instead)

The surprising truth about leadership styles that can make or break your team’s success.

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Why one-size-fits-all leadership doesn’t work
Image Credit: Midjourney

Leadership has always been as much about people as it is about performance. Ken Blanchard, in his influential book, “The One Minute Manager”, put it simply: different strokes for different folks. (more…)

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What Every New CEO Must Do in Their First 100 Days (or Risk Failure)

Your first 100 days as CEO could define your entire legacy, here’s how to make every move count

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When Tim Cook took over from Steve Jobs at Apple, the world watched with bated breath. Jobs wasn’t just a CEO; he was a visionary, an icon, and a legend of innovative leadership. (more…)

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Entrepreneurs

The Leadership Shift Every Company Needs in 2025

Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

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Bridging the gap between employees and employers
Image Credit: Midjourney

In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”

While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.

Why This Gap Exists

Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.

What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.

Tools and Techniques to Bridge the Gap

Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.

1. Practice Mutual Empathy

Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.

2. Maintain Professional Boundaries

Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.

3. Follow the Golden Rule

Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.

4. Avoid Micromanagement

Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.

5. Empower Employees to Grow

Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.

6. Communicate in All Directions

Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.

7. Overcome Insecurities

Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.

8. Invest in Coaching and Mentorship

True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.

9. Eliminate Favoritism

Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.

10. Recognize Efforts Promptly

Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.

11. Conduct Thoughtful Exit Interviews

When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.

12. Provide Leadership Development

Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.

13. Adopt Soft Leadership Principles

Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.

The Bigger Picture: HR’s Role

Mercer’s global research highlights five key priorities for organizations:

  • Build diverse talent pipelines

  • Embrace flexible work models

  • Design compelling career paths

  • Simplify HR processes

  • Redefine the value HR brings

The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.

Treat Employees Like Associates, Not Just Staff

When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.

Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.

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Entrepreneurs

What Makes an Entrepreneurial Leader? Traits of the World’s Best Innovators

Inside the mindset of entrepreneurial leaders who transform risk, passion, and vision into world-changing results.

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entrepreneurial leadership skills and traits
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