Have you ever wondered what it takes to build a successful business online or offline?
What qualities do the entrepreneurs and business owners who have built these successful businesses have one of these qualities, what are their personalities behaviors, what are the things that they focused on the activities that they did, day in and day out, that brought them the huge success and impact that comes with building a successful business?
Ladies and gentlemen, that has been the question, running in the past few episodes of this podcast.
Welcome and join me on this podcast, the virtual entrepreneur, as we've been exploring, we have been reading the book, The Science of Getting Rich. By WD wattles, written in 1910.
The book talks about the formula that can be applied to getting riches and by riches in this case, we don't meet figuratively what we mean is the need for resources.
We had to establish that in the world of today that we live in if you want to develop yourself develop your talents in both mind-body, and soul, then what you need is you need to use things you need to use tools, and to use these tools, means that you need to have the means to get them right, and they, because a lot of the tools today in society must be exchanged for money.
Money is a curse that we're using to getting the tools we want.
And so the Science of Getting Rich became one of the most important things that we can look at into understanding how any of us ambitious entrepreneurs can go about finding the ways to get the resources we need, so we can acquire the tools that we need to make that positive impact upon the world.
So, in our last episode, we finished up reading the book, The Science of Getting Rich.
If you're new to this podcast.
Thank you for joining us on this virtual on the virtual entrepreneur. And today what we're doing is we are taking the summary takeaway points from all the chapters in the book.
Now, the book had a lot to offer, and these summaries are just my notes, and we are looking at them with the lens of comparing what the book is offering us in terms of how we can use it in our businesses in our daily life, but the focus is on building a successful online business.
Why online, because that's where the biggest impact can be made with millions of people, billions of people around the world.
So, with that said, the first thing that we looked at in the book, The Science of Getting Rich was your right to be rich now.
And one of the key things here we said was if you need to fully develop yourself, your talent in body, mind and soul you need resources, and that was really really heavily talked about the very beginning of the book, right.
And then, that is one way of looking at as in your right to getting those resources, but that is because things cost money.
But another way of looking at which is the way that I heard one of my mentors said was that you have a responsibility as a citizen, as a member of society, to bring about your talents, and to go and to serve the people who you can serve. And so, even though it is your right to have those tools, but it is also your responsibility, that you should have them Because it is by having them, that you become useful to society.
You become a functional member who can contribute with value.
That makes sense, right in the book sage quoted the man who has nothing to give, cannot call themselves a functional member of society, is it, you know, is it proud has been a proud father a proud citizen because they simply have nothing to offer, and I believe we all have something to offer.
Another thing that the book looked at is the idea of these full-proof methods.
And there are ways to put yourself in a position that we are guaranteed to get better results in business today. Right. And one way is location and position, Right, how you're positioning and business location you're using. Now the location may be online, but the way you position it matters, right.
And by positioning here just means do you position yourself as an expert who can offer value, or are you positioning yourself as a student who is learning and sharing what they're learning. Or, there are many ways to position yourself. But the goal is positioning yourself in a way that allows the people who need your services to come to you so they can get the services.
And the other thing is, by modeling, what works. We also give ourself, another bulletproof of foolproof method of that guarantees, much better results.
What I mean by this is, when we model what works. Scientifically speaking, it is guaranteed to give us the same result, or it has a higher probability of giving us the same results, right.
If all you see are people swinging legs to move forward, to walk, then there is a very high probability that any creature with the same figure, same anatomy, if they were to swing their legs, in the same way, they would walk and move forward.
That's the idea here. And the book says, doing things in a certain way, guarantee you getting certain results and scientifically that is the basis for science, right, and then dealing with people, right, dealing with people become a very important factor as well. And the biggest reason why dealing with people is a very important factor is because you go where the money is. But that's not the only thing, right, as an entrepreneur, we are then called on to solve problems by solving those problems.
That is where how we become useful.
Right. And those problems are faced by human beings.
Right, it is the human being who is being who is paying us to solve those problems as intrapreneurs. And then, early on in the chapter. Another key point mentioned was the idea that opportunity is not monopolized, right.
So, yes, there are some areas and industries, we're getting in and thriving is very difficult, simply because how to establish yourself will require a significant amount of resources, and there is already a lot of established companies, huge companies, for example, the transportation industry, right. It requires a lot of investment and there's already a lot of pre-established companies in those areas, so getting it.
As someone who's just starting out may not be the best option to start with. To start with, however, the type of opportunities at any one given time point in a specific direction. And so our goal as entrepreneurs is to look at this tide of opportunities.
Where is the tide of opportunities?
And from what I've learned from what I've observed from my mentors, and my colleagues, and other entrepreneurs in a community of 1000s of people is that the opportunity seems to fly in a place where you can access a lot of people, faster, easier and quicker, and that is online, an online business seems to be able to reach the customers, much, much faster. And the reason is simple communication is instant, right.
And then we also talked about the three types of business in terms of looking at, opportunity, and the ties opportunity, We talked about product-based business service-based business and information-based business.
Now, when it comes to product service and information based really information can be packaged as service, or as a product. Right. And it can also be packaged as a community. Right. so there's a lot of these new ways of doing businesses that are not so new, but they're being applied in a very
modernized way. I think that's the best way to use that. Right. And so our goal as intrapreneurs is to see where we can find is to find where we can fit in and thrive.
And in the online world, the big, the easiest word we use all the most common word used for this is finding a profitable niche. Right. And if you're new to this podcast, you may not know this but we have a full episode just talking about how to go and look at the three core markets, and then dig deeper inside to carve yourself a profitable niche. So if you're not gonna listen to that. I'll let you jump in back to that episode.
So that was earlier in the chapter and the next thing that the book talked about there was this principle, which was belief, right, and belief may be referred to much as faith in the book, but the goal here is believing in yourself, right, and believing in the model that if this system has worked for others, it will work for you.
Right, so if you're going to build a business.
The goal is to model what has worked, because if you've seen it work, then it has a much higher chance to work for you as well. Right. Then the next thing the book touched on was the idea of increasing life. Right, so this competition.
And then there's creative, right, and the goal is to focus on the creative side of things, rather than competing because when you're competing in the world of business today, you're most likely competing on price, but if you're creating value. Well then price incomes irrelevant. Right.
And then if we go on to the next few points here, which by the way just too quick, short, mid-episode announcement there. I had mentioned earlier that we will be inviting guests over. And the goal in inviting guests will be.
There's a lot of points here as you can see, there's a lot of concepts that will be involved in in the creation of business. and the goal is by bringing experts in their field. People who have really set out to go about making that change and have made a positive impact and building multiple-figure businesses.
What we're going to do is we're going to be learning from them, because it's by seeing what works, right, we're going to do, we're going to do what we are saying, right, we're going to walk the walk, talk, what's the phrase, is it, walk the talk. I think that's the phrase.
So, I have a few guests and I think one of the first guests that you're going to have onboard is David Trotter.
David is an expert in social media marketing and has built his own multiple-figure businesses, a business that has gone on to help a lot of entrepreneurs, create social media material. So, we're going to have an interview with David, and then we're going to look into David's experiences, and some of the lessons that we can use from his scenario and apply to our own case, right. So, with that said, for updates just go to Herbert, marketing, help.com, and you'll find all things, two related to the virtual intrapreneur.
The next thing that the book talked about was making preparation, and by making preparation, in this case, was essentially preparing for your customer experience, right. And also be prepared for growth, right, because it's only when your, how you build a business is, you know just from what you're seeing is not just creating something. There is also the expectation element right, what do we expect to see as a result, as it grows right in the future.
Five years 10 years 15 years from now, and for some entrepreneurs actually they expect to have sold it. Right. And so you start building with that vision in mind, that makes sense. So preparation becomes a very important thing. Then the next thing that we saw from the book was gratitude, this concept of gratitude in the way we translated that is to train ourselves to see problems as opportunities.
And the reason why that becomes really, really important is that if our job is to go and solve problems and get paid to solve them, then obviously problems are our opportunities.
Right. Every time the tide shifts, new people get problems, new people get opportunities. And the goal here is to just balance the scale, right.
So that was the next thing that the book talked about which was the concept of seeing, gratitude, right, and then from there on, we went on and talk about the idea of being hungry for success. And what we mean here by this essential ease.
Do you really want it, right, as a business do you want your business to be the thing imagine it to be, because there's a very big difference between saying I wanted and really wanting it. It's easier to say I wanted in DS, not as easy to say it. It's not as easy to want it. And one thing I've noticed and I've learned is, when we say we want something as intrapreneurs usually thoughts of doubt or fear of uncertainty, start to settle in.
And one of the things that I've learned is that we need to learn to observe those doubts, fears, and unsettled and address them because those are just telling us, there's a little bit of information that we need. Or maybe there's a little bit of experience that is setting us back that is holding us back.
Or maybe our beliefs are being tested right by our subconscious. And so there's all these good things, and my goal is essentially to bring other coaches business coaches, so that they can give us some of their insights into some of these concepts, which are very important, by the way, in building businesses.
We also talked about studying what others are doing right without getting caught in all the noise in what is happening today. And so the goal there was to model what works to model how content is being produced, but by being mindful and conscious, right, rather than by being mindless, that makes sense.
And then the next thing we talked about was this concept of focus and right we end here what we really meant was, Are you customer focused, or are you product-focused, right, and if you've been listening so far, you probably can see why being customer focus will be more important than being put up focus, right, we are solving problems for people, not for beings, right. And so, sometimes a lot of Intrapreneurs go into business making the mistake of focusing on the product, especially if the product is very innovative, it's very new. That makes sense.
And so we want to be very specific on how we approach that. And then later on towards the end of the chapter, some of the key concepts that we explored were right, your vision, your mission, your purpose and your faith, and by faith here. We are not being religious or anything like that.
This is a business show, with the aim of making positive impacts to our community neighborhoods in our countries and our goal in talking about faith is simply to believe in ourself believe in our ability, and belief in the idea that we have the resources and the tools to make and shape.
Businesses you want to grow, and that is the goal here, and so the best thing I can talk about mission, vision, and purpose is.
One thing I've learned is that vision is what you envision, at the very end, what do you imagine the big picture of what do you imagine to be when it's finished, when everything is said and done and dusted.
When you plant a seed, you imagine a tree with fruits, falling. During the summer, fall into the ground, right, read, ready to eat. Right. And so, with vision, it's that full picture and then with a mission. It's what we are doing every day to get there.
That's what I remember learning.
So our mission is where you're doing to get there. And then our purpose becomes, why are we doing right, so if you planted a tree, while you're doing your visual beat when it's fully grown, the apples and, you know, falling down all nice and tasty.
And then with the mission would be, you know, watering the tree, every single day planting grass cutting out the weed, grass, and all those things to make sure that there's enough room for the tree to grow, right, and then the purpose will be obviously the environment or the aesthetic beauty of it.
And so in the faith and the faith, the faith is our ability, or belief in ourselves, to accomplish that goal. So that's the way I have learned it, if you've learned differently, please do feel free, feel free to message me a voice, with a very nice example and we can share it because I think the more we can understand this concept, the easier it is for us to create a very consistent and concise message towards our customers.
So, that's it.
Another key concept explored towards the end of the chapter was the concept of being successful today. And what this mean meant was doing every task that was meant to be done today, successfully so that tomorrow. We can also do another task that is meant to be done tomorrow, successful, and the goal in doing that is very very simple.
It's that success is cumulative, and that means to get a successful end result, we must complete each day successfully.
That was the key takeaway from that section of the chapter there. And so, from their own. We went on to talk about the idea of reviewing your purpose and I think what you really meant here on this point was. So in everything that you do.
You must do it with the same intention of your vision of attaining your vision, right. So if you're buying, what you call us fertilizers for your plants.
You wouldn't buy fertilizers that will pollute the rivers and all those. If your goal is to get, you know, green earth by green and just mean, what's the word I'm trying to use eco friendly, right, because you can't be Planting green tree here. While polluting a river down there.
Right, so you must do everything that aligns with your mission and your vision. Right, so by renewing by reviewing our purpose, We are reviewing our key ability to bring about the vision that we have envisioned, right.
It doesn't make any sense to me, you know, planting a tree here destroying the soil over there. It just doesn't. So you want to be consistent in your action, as well as in your thoughts, I suppose.
So there's a very good example, by the way of this in the book Start With Why by Simon Sinek where he explains how Apple has a mess had a message or an ad that a vision statement that said in everything we do. We believe in thinking differently, and then they go on describing the product. And I thought that that was a very powerful example.
Another key point that we talked about we touched on where the thoughts were the idea of putting the thought of increase.
And what this means essentially from my point of view or from how I understand it in terms of business is, you know, going that extra mile, right, removing that inconvenient or doing it with the intention that you're doing business with another human, right, rather than doing it because it just has to be done.
And so those, that's what I got from this, and from what I've learned from the entrepreneur in the past. It seems to really resonate with that point there.
And then the other concept that I learned was that we touched about what was the concept of fast track and slow track, right, if you have the vision to plant a tree or to plant a forest, right, planting a tree means you can do it by yourself. But planting a forest means that you might need to get the entire community involved.
Right, so if you have a business, do you need to be big?
did you want to be small?
So if you're using those examples, then essentially what we are trying to say here is right.
Being on the fast track and being on the slow track just means you need to understand the pace you need to go, and the resources you will need to get to where you want to go, because you can get there faster but only if you take the right approach, and with the right resources and the right tools and the right workforce.
That makes sense.
And then the last thing we touched on was focused in terms of thoughts, words and actions right now. And the reason why we say that was because our thoughts, our words, and our actions become our behaviors, and these, in turn, influence our businesses, from how our customers will see it, the cultures that form in the business, and everything else, and everything else that goes on, including the interactions with business partners.
Look, there is a tonne to be said about what an intrapreneur could take from that book, and I want to thank you for having joined us on that book reading.
So that has been the end of that book reading, and these are the key takeaways, but there's a tonne more that you could take. When you read for yourself. And as I said before, we're going to have the book on the website.
And so, at Herbertmarketinghelp.com
We're gonna have the book there so if you had to download that and read it for yourself, that will be available to you so that you have that knowledge and information at your disposal.
So, that is me at the end of this episode as I said, in the next episode we are going to have guests, and you're going to have more content on other books, and a lot of all these things that we need to understand about business, and the goal, as always, is to create a successful online business.
With that said, thank you so much for tuning in on this episode of The Virtual Entrepreneur. And as always, I will talk to you on our next episode.
Have a wonderful evening.