Early on in my entrepreneurial sales career I was introduced to some simple, yet extremely valuable concepts, as well as, a unique way of looking at my “commission only” sales income. These concepts helped me to develop a strong entrepreneurial mind-set, which in turn helped me to create my own financial and career security.
Concept 1 : Do -vs- Make
We can either “do” something or “make” something in this life. Both actions can create real value but only one has potential to create massive wealth. If I “do” something chances are I’m getting paid to perform that task. And I’m probably getting paid the minimum amount that it costs to replace me. (economic definition of a wage) If, however, I make something then I’m much more on the creative side, which can miraculously morph into crazy wealth. Damian Hurst’s Diamond skull comes to mind (£50m anyone?)
Concept 2 : You must pay for things that either you can’t do or don’t want to do (for efficiency’s sake)
This concept is simple yet profound. It’s about how I viewed my spending. A business person pays for things she either can’t do or doesn’t want to do. I can’t fill in my corporate year ending, thus I pay a professional accountant to do it for me. I don’t want to “do “x” (x could be answering phones, data input, etc.) which of course creates an opportunity for someone to fill that role.
Working with these two concepts has always kept me highly motivated and on track in terms of my spending. And alas, one of my key take home’s was when I discovered that I actually had more security than someone who works for a boss.
My security was and is wrapped up in my ability to produce and income for myself and so too is yours. Don’t you just love entrepreneurship?
[feature_box style=”3″ only_advanced=”There%20are%20no%20title%20options%20for%20the%20choosen%20style” alignment=”left”]Dominic Kotarski – International Consultant – Author – Coach – Trainer – Speaker