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Thanks,
V. Gold

What's the Price Tag on Your Time, Talent and Knowledge?

I recently witnessed a multi-million dollar deal unfold after two years.  Two years of time, talent and knowledge put in and no deal!  Not to mention at least $100,000 spent on analysis, studies and reports determining the feasibility of the project.  The principals/key players that were a part of this team didn't get paid for the hundreds of hours that they put into this project.  Why would they work for free?  When you look at the potential of the opportunity, that would ultimately return several millions of dollars in revenue the question then becomes, why would they not work for free?

What are you willing to put in to "the Project" to reap the rewards that you ultimately dream about?  The projects, ventures and opportunities with the highest payouts tend to require a commitment that most people are unwilling to make.  This commitment that most won't make is what keeps most people working for other people as opposed to working for themselves!  This commitment that most won't make contributes to the growing gap between the rich and the poor!

The investment of time, talent and knowledge is the commitment that I am referring to.  Most people feel that if they aren't being paid upfront, it isn't worth their time.  Most people feel that if they aren't being paid up front, they have no reason to waste their talent.  Most people feel that if they aren't being paid upfront, they aren't giving anyone else their knowledge.

The difference between people that achieve and maintain a high degree of life long success and prosperity realize the value of investing in the right opportunities which require a great deal of time, talent and knowledge and no compensation up front but have end results that are immeasurable.  When you put a set price tag on your time, talent and knowledge you can potentially miss out immensely.  It isn't always about how you can benefit today.  What about how you can benefit in the future?  Make it about how you can retire at 40…or before!  Don't limit yourself!

Don't Get Around to It…Just do It…or Not!

How many times do you find yourself saying things such as the following?

1. I'm getting there
2. I'm going to do it
3. I'm going to get to it
4. Remind me to do that later
5. I will, as soon as I get paid
6. I will, as soon as I find some time
7. I will, as soon as I save up the money
8. I will, as soon as I put the kids to sleep

Do these phrases sound familiar to you?  These are phrases that you should make a conscious effort to get rid of, or quite frankly, you will miss out! 

When it comes to business, these lines simply don't work!  When it comes to customer service, what customer will think that it is acceptable for you to constantly be working on it, or getting to it as opposed to having it?  When it comes to a partnership, what motivated business partner is going to think that it is acceptable for you to constantly need to be given reminders to do your work as opposed to having your work done?  The above 8 lines impact your credibility and each time that you say one of these lines to the same individual especially, your seriousness meter is being chipped away at.  People do remember and they are counting, especially when they care!

When it comes to business, if you don't have plans on ever doing something or if quite frankly you are not interested in doing something, than say it!  People will respect you for giving a flat out NO as opposed to giving the run around.  When you give rationale as to why you haven't started something or why you haven't completed something, the only thing that people will remember is that you failed to come through or stick to your word.

Don't be a "Gonna Doer" just simply get to it and be a "Doer" or learn to give people a respectful and professional NO!

The Power of Partnerships!

In business there is a simple truth...

• Like it or not, when we work together more is achieved, more efficiently, and to a much greater effect! 
• Like it or not, the only way to achieve success and prosperity is by working with other people, partnering, collaborating. 
• Like it or not, partnerships will enable you to expand your reach, tap into new resources and gain new strengths and insight.

Partnerships are a key component to growth, wealth, to ultimate business and financial success.  Eliminate the word ME and start focusing on the power of the word WE!

It's Your Business and so Of Course…It's All About You! Right?

I had a discussion with an individual that was interested in utilizing my services to assist them with growing their business.  Since they were relatively new to the world of entrepreneurism I started with some basic questions to help me get a better feel for what the client was hoping to achieve.  The interview went something like this:

• My question: What made you select this industry? Answer: I love the industry.  I love everything about it. 
• My question: Who is your target market? Answer: Everyone, I'm going to target everyone because I have something for everybody.
• My question: How do you plan to market your products and services? Answer:  I'm going to put the word out and my customers are going to spread the word.
• My question: Who is going to help you run and build the business?  Answer: I'm going to do it all.

I'm sure that you get the tone of the entire interview and so there is no need to for me to go on.  A few things that new business owners often forget is that 1) you cannot do everything, be everywhere, or please everyone and 2) business is not about you, it's about other people - other people known as customers! 

If you decided to go into business without the expectation of making any real money, then great, it can be all about you!  However, if you are like most people and you want to turn a significant profit, your level of thinking has got to be centered around what your targeted market of customers want and less on what you think, feel and want!  It's not about you!

For more on costly mistakes to avoid when starting a business, read my E-Book, "Make Money Not Mistakes."

Assets Worth More Than Money!

You are probably asking yourself, what on earth could I possibly be referring to?  What could possibly be worth more than the almighty dollar?  Could it be gold or silver?  Want to keep guessing?  Three Assets Worth More than Money and Why:

1. Knowledge:  I could give you $5 million today to do with it as you wish.  If you aren't a very smart person, what are the odds that you would have more than $5million in your bank account 6 months from now?  A person with a lot of money and zero knowledge will quickly equal a broke fool!  Think about some of the famous athletes, actresses and musicians who went from having it all to practical homelessness.  No need for me to site names.  A person with knowledge will take that $5 million and turn it into $10 million dollars plus.  Simply from seeking additional knowledge and making smart, informed decisions before spending a dime!
2. Motivation:  If someone lacks the motivation to actually make things happen, their future probably isn't very promising is it?  Let's use the same example from above.  Say you have got $5million in the bank but have zero motivation to do anything other than spend money? What are the odds that you will be able to keep money?  Slim to none right.  You might even have the money today to hire people to do all of the things that you have been told that need to be done to make things happen, but if you lack the self motivation to validate that what you've been told is true and to jump in and become involved to ensure that things are truly on track, the odds are that you'll probably end up being yet another riches to rags statistic.  A motivated person is typically great at making more money than they have today while an unmotivated person is a prime candidate for having a million in the bank today and a negative balance tomorrow!
3. Faith: If you are lacking in your faith this presents an all together different set of problems than knowledge and motivation.  If someone doesn't have faith in themselves, in their partner, in their business, in their products, in their services, or in the case of a believer like me, in God the future will probably not look to bright.  A person with no faith is an empty and typically confused person for the most part.  To put it into another perspective, if you have faith in something, you typically have a strong conviction and belief in what you are doing.  If you lack faith in the $5 million dollar investment that you are contemplating making, the odds are that you probably shouldn't be making that investment and you shouldn't have any real expectations of a return off of that investment.  If you are without faith, it will be extremely hard to move forward and make smart business, financial and life decisions.

You have got to have knowledge, motivation and faith.  These three elements are powerful and worth so much more than a dollar today. As the late Jim Rohn once said "the real value of building a million dollar business is NOT the million dollars.  It’s the learning and knowledge we acquire earning that fortune.  Take a million away from a millionaire, who made that money themselves, and they can make another million."

What Does an Education Equal These Days?

While attending a training seminar earlier this month in San Diego, one of the speakers said something that spoke volumes!  Something that many people often fail to realize!  I cannot recall his name off hand right now, but his quote went something like this…"education equals education…education does not equal income."

These words rang significant to me because over the past few months I cannot count how many individuals I have spoken to, who have lost their jobs, some who remain unemployed and are returning to college or attending for the first time in hopes of finding a higher paid and more stable job in the future.  This made me think….but I didn't want to discourage any of these individuals from furthering their education as I am a firm believer and supporter of higher education and continuous learning.  At any rate, the question that pops into my head is, after you get the education, what's next?  After you walk across the stage and receive that diploma, what's next? 

Education  equals education, period!  Education doesn't come with guarantees, though it does come with many statistics and possibilities.  Education does not equal Income which is what many people fail to realize!  If you are going to school to make more money, I challenge you to research the percentage of college graduates who remain unemployed and/or are working at places such as Starbucks in this economy!

My point is this, if you want to further your education, that is great - I encourage that BUT don't go through life putting your destiny in the hands of someone else's business (your employer) when you could be building your own business and legacy!  There is nothing wrong with working for someone else as long as your remember that nothing lasts forever.  While you may be employed and making a great salary today, there are no guarantees for that salary tomorrow.  Start working on a B Plan, C Plan and even a D, E and F Plan!  Not sure about how to get started?  Ask me how today!