Hello virtual enterpreneurs. Join me on this episode, as we discuss the keynotes, after reading the chapter of the book by WD Wallace, right, that Walters, Wallace D. Wattles.
I keep mixing, his name is a wonderful guy, I think. So, in this chapter you're talking about the book, The Science of Getting Rich and in the previous episode, we read the chapter. And on this episode we are discussing the notes as to what the chapter what key points we can take from that chapter that relates to our journey as intrapreneurs building online businesses, Whether you're in the business of marketing or affiliate marketing, or in the small business, you are in the right place because today we are talking about using the book, The Science of Getting Rich.
1:06 Using that knowledge to advance yourself in the area of building our businesses. So without further ado, the chapter talks about how riches come to you. Right. And just as a small side note, they're one of the few things that I learned a long time ago there's a proverb that says, when the student is ready, the teacher will arrive, and I think this proverb proverb is very, very powerful and very fundamental in the area of personal development and self development. And the reason why I say those words is because there is this concept that when you are ready, then all the opportunities and possibilities become visible to you, right. It's only when you're looking for something in a very specific way do you see the doors of opportunities open, right.
2:00 And, you know, they say, you know, you can't get different results by doing say everything in the same way, but it's by changing how you're doing things, then began to begin to see all the different opportunities.
2:14 And then there's this key thing that I once heard a very very powerful phrase that says, you know, Sometimes you're so stuck in what you're doing.
2:27 And you go for the low hanging fruits, only reach for what's accessible, and you never really exhaust all the possible resources available to you. Right. And I think that's very fundamental that you never really truly look to exhaust the possibility the possible resources available to you. Right, and you will never know which resources are available to you because you never chose the path to exhaust really look for them until they're all exhausted. Right. And so there's that part of the end I want to just say all this here to set us up as a foundation as a discussable chapter. Now, there are two key values that I took from this chapter there's quite a lot, but I took two, so that we can discuss them and the first one is the idea of creating value, we're going to go back to this, this was discussed in the last chapter, but you're going to dig deeper into this because it's continuation right. And if you want to avoid the competitive landscape, right, because we want to avoid that because competing means we are all doing the same thing and you're playing a game where only one person wins. And in the world of business.
3:46 If you're playing the game of competition. The winner is either the person with the most expensive product, or the person with the cheapest product, and there is no advantage of being in the middle I learned that from Russell Brunson, and when I took one of his programmes, learning on you know how to build your own products and businesses online. And one of the key things I learned is that there really is no other competitive advantage, either you're the cheapest, or the most expensive, right, to be the most expensive you need to give a tonne of value, and to be the cheapest well you just have to really find a way to make more with less. Right.
4:26 And usually in the business of selling material good means you have to secure channels distribution channels and resources, raw materials, but a cost that is much much lower, so that you can always make a profit. Right. And so, if this is the landscape that we are operating in, then know that in a competitive landscape. It's very difficult, because you're always thinking not just about your product and your customer but you're also thinking about the person you're competing against, and that doesn't really offer us an advantage, because just being in the business on its own. There's a lot. There's enough challenges you don't need to add any more. That makes sense. Right. And so creating value. One of the biggest things that I've come to learn is when it comes to creating value.
5:15 You need to understand your key fundamental drive.
5:20 Why are you in the business that you are in. Why are you in affiliate marketing if you're in affiliate marketing, why are you doing the thing you're doing because unless you fully understand why you're doing what you're doing, then you're essentially running around, hoping something will stick right.
5:39 You're aiming at everything there is no direction. And even if there is direction, there is no strong motivation, there is no cause behind it. And, in his book.
5:55 People don't buy what you do they buy why you do it, his book starts with why Simon Sinek, talks about starting with why, and he says people buy why you do not what you do, right, and this comes back to your drive that people will follow you because of what they believe, aligning with what you believe. So, if that is the case, then we really have to think of it in terms of creating value if you're going to create value for someone. The really only best way to do that is if you're clear why you're doing what you're doing, because that allows you to go the extra mile style allows you to really give content with intent to give value with intent, right, because intent is the key word here, right. Passion is nice because passion will create a few, but at the end of the day.
6:51 Your biggest drive goes beyond passion. Right.
6:55 It's the thing that will be attracted to you for that very reason. That makes sense. So now that we've talked about that the next big point is the point of making preparations. And then the opportunity to arrive now we touch this at the beginning, but to summarise it into tied up with the book. The book talks about the idea that you should start living in a certain way. And this may seem like far fetched but let me try and give you how this relates to business. As soon as you start building a business you work, biggest thing you notice is there's a difference between being an employee in your business, in your business and being the owner of the business and being an employee in someone else's business.
7:48 When you are an employee in business. Right. You don't have certain responsibilities, and how you do things matters, right, you do them in a very specific and different way, but as soon as you get into the business of owning a business, you start doing them for very, very different reason. You may do the same tasks, but you need to do them for two different reasons. The first reason is you're doing them as an employee and the second reason is you're doing them, as the owner, right, trying to achieve the overall objective versus achieving the inside of the business objective. In his book, E Myth by Michael Gerber talks about the enterprise, enter pioneer real intrapreneurial myth, which is most people have technical skills, go into business, create a business, but instead of really building a business, you end up creating a job where the boss is a technical, they are the boss, and all they have is a technical skills, And what he says is having very good technical skills, doesn't mean you have really good business skills right that two different things, and to summarise what is really coming onto here is that he says that the way big businesses are built, they were built as if they are big from the very beginning.
9:22 It wasn't built like a small business, to stay small. It was built as a very very big business. They built the business with a grand vision of it being big from day one. Right, whereas a small business is built as a small business, and that is the big difference here. And so taking that into consideration to get where we want to, as intrapreneurs, we have to think as intrapreneurs, we have to act as intrapreneurs. Right, that makes sense because there is no way that you can act as an employee and expect to get results as an intrapreneur. Those are two different things. One of those is you take responsibility for your own action, and the other one is someone else takes responsibility for your action, right, being an employee means you have a boss, being an entrepreneur means you are the boss. Right. And that means that when you get a loss you get a serious loss, whereas being an employee means. Well, there's a paycheck coming anywhere. Right. And that is a very big difference there. So, thank you so much for tuning in, that is me on these notes here.
10:33 They're a little bit all over the place, but I hope you enjoyed that and I hope you got some value from that, if you did go to Herbet marketing help.com You'll find all the past episodes from our podcast, I want you to subscribe to this podcast and I also want you to download any of any of the resources I have for you there, including this book that we're reading, I'm going to put it in there. And this will help you if you want to look it over, later on. If you missed a key concept, and if I have any future resources, I'll put them down there for you. It's a free book, it was written a long time ago so it's completely free. Aside from that, thank you so much for tuning in and I'll talk to you on our next episode. Have a wonderful evening.