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I'm a huge fan of Jim Rohn's wisdom on life, business, leadership, etc.  He's one of the most respected speakers on these topics because of the way he told stories and shared simple wisdom to help us all solve complex problems.  Today I was inspired through an article he wrote a long time ago called "Nine Things More Important than Capital"... (see below)

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When starting any enterprise or business, whether it is full-time or part-time, we all know the value of having plenty of capital (money). But I bet we both know or at least have heard of people who started with no capital who went on to make fortunes. How? You may ask.

Well, I believe there are actually some things that are more valuable than capital that can lead to your entrepreneurial success. Let me give you the list.

1. Time
Time is more valuable than capital. The time you set aside not to be wasted, not to be given away. Time you set aside to be invested in an enterprise that brings value to the marketplace with the hope of making a profit. Now we have capital time.

How valuable is time? Time properly invested is worth a fortune. Time wasted can be devastation. Time invested can perform miracles, so you invest your time.

2. Desperation
I have a friend, Lydia, whose first major investment in her new enterprise was desperation. She said, "My kids are hungry, I’ve gotta make this work. If this doesn't work, what will I do?" So she invested $1 in her enterprise selling a product she believed in. The $1 was to buy a few flyers so she could make a sale at retail, collect the money and then buy the product wholesale to deliver back to the customer.

My friend Bill Bailey went to Chicago as a teenager after he got out of high school. And the first job he got was as a night janitor. Someone said, "Bill, why would you settle for night janitor?" He said, "Malnutrition." You work at whatever you can possibly get when you get hungry. You go to work somewhere—night janitor, it doesn't matter where it is. Years later now, Bill is a recipient of the Horatio Alger award, rich and powerful and one of the great examples of lifestyle that I know. But, his first job—night janitor. Desperation can be a powerful incentive. When you say, “I must.”

3. Determination
Determination says I will. First Lydia said, "I must find a customer." Desperation. Second, she said, "I will find someone before this first day is over." Sure enough, she found someone. She said, "If it works once, it will work again." But then the next person said, "No." Now what must you invest?

4. Courage
Courage is more valuable than capital. If you've only got $1 and a lot of courage, I'm telling you, you've got a good future ahead of you. Courage in spite of the circumstances. Humans can do the most incredible things no matter what happens. Haven't we heard the stories? There are some recent ones from Kosovo that are some of the most classic, unbelievable stories of being in the depths of hell and finally making it out. It's humans. You can't sell humans short. Courage in spite of, not because of, but in spite of. Now once Lydia has made 3 or 4 sales and gotten going, here's what now takes over.

5. Ambition
"Wow! If I can sell 3, I can sell 33. If I can sell 33, I can sell 103." Wow. Lydia is now dazzled by her own dreams of the future.

6. Faith
Now she begins to believe she's got a good product. This is probably a good company. And she then starts to believe in herself. Lydia, single mother, 2 kids, no job. "My gosh, I'm going to pull it off!" Her self-esteem starts to soar. These are investments that are unmatched. Money can't touch it. What if you had a million dollars and no faith? You'd be poor. You wouldn't be rich. Now here is the next one, the reason why she's a millionaire today.

7. Ingenuity
Putting your brains to work. Probably up until now, you've put about 1/10 of your brainpower to work. What if you employed the other 9/10? You can't believe what can happen. Humans can come up with the most intriguing things to do. Ingenuity. What's ingenuity worth? A fortune. It is more valuable than money. All you need is a $1 and plenty of ingenuity. Figuring out a way to make it work, make it work, make it work.

8. Heart and Soul
What is a substitute for heart and soul? It's not money. Money can't buy heart and soul. Heart and soul is more valuable than a million dollars. A million dollars without heart and soul, you have no life. You are ineffective. But, heart and soul is like the unseen magic that moves people, moves people to buy, moves people to make decisions, moves people to act, moves people to respond.

9. Personality
You've just got to spruce up and sharpen up your own personality. You've got plenty of personality. Just get it developed to where it is effective every day, effective no matter who you talk to, whether it is a child or whether it is a business person, whether it is a rich person or a poor person. A unique personality that is at home anywhere. One of my mentors, Bill Bailey, taught me, "You've got to learn to be just as comfortable, Mr. Rohn, whether it is in a little shack in Kentucky having a beer and watching the fights with Winfred, my old friend or in a Georgian mansion in Washington, DC as the Senator's guest." Move with ease whether it is with the rich or whether it is with the poor. And it makes no difference to you who is rich or who is poor. A chance to have a unique relationship with whomever. The kind of personality that's comfortable. The kind of personality that's not bent out of shape.

And lastly, let's not forget charisma and sophistication. Charisma with a touch of humility. This entire list is more valuable than money. With one dollar and the list I just gave you, the world is yours. It belongs to you, whatever piece of it you desire whatever development you wish for your life. I've given you the secret. Capital. The kind of capital that is more valuable than money and that can secure your future and fortune. Remember that you lack not the resources.

 

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To read previous articles and quotes from the Jim Rohn Weekly Newsletter Archives; to get a complete listing of Jim Rohn's books, audios, videos and seminar schedule; or to place an order, visit: http://www.JimRohn.com or call 800-929-0434, Monday through Friday, 8:00 a.m. - 5:30 p.m. CST.

The third P in my 7 P's formula to generate extraordinary results is to "Prioritize".  I have found in my own life and in the testimonials of others who have lived their dreams and changed their world that focus precedes success.  In coaching entrepreneurs and top sales executives, anything they want to improve upon requires them to focus on it and to prioritize it over everything else. 

There’s a great proverb that says: ‘Whatever you treasure, there your heart will be also.’  So a real understanding of whether or not you treasure extraordinary results is to just look at the acronym and see if your heart is focused upon generating the results you so desire...

Time - Are you investing the necessary time to improve in this area? 

Resources - Are you invest your resources (money) into improving your resutls? 

Energy - Where are you spending your energy to improve your results in this area?

Abilities - Are you leveraging your abilities in such a way to generate improved results? 

Space - What occupies your space?  Are there books, CD’s or other resources surrounding you to help you grow?

Utterances - Are you having conversations with mentors, coaches, teachers in the area you'd like to improve? 

Recreation - Can you find enjoyment and fun in doing what's necessary to improve your results? 

Eager - Are you eager to do the activities necessary to help you grow in this area?

After assessing what you treasure you can re-prioritize some of the areas you're falling short on (if applicable) and get back on track to achieve your dreams.

 

Received a great reminder today on how we can misinterpret the word "NO" and thought it was worth sharing.  In my life as I've pursued my own dreams and goals I've personally misinterpretted the word "NO" and gotten discouraged. To live your dreams you will encounter lots of "NO's" so we need to remind ourselves that this is all part of the process to achieve our goals. When I called every professional football team in the world in 1995 trying to get a tryout and earn a spot on their roster this is what it looked like..

No - No - No - No - No - No - No - No - No - No - No - No - No - No - No - No - No - Yes!

Unfortunately, the YES turned out to be a NO after the tryout so I went back to work and the "No's" continued...

No - No - No - No - No - No - No - No - No - No - No - No - No - No - No - No - No - Yes!

This YES was the one I needed and it earned me a job that lasted for 4 years in the Arena Football League with 2 trips to the National Championship game and 1 big dream accomplished (to play professional football).

Have you given up on your dreams or slowed your pursuit of them because you've heard a couple "NO's"? This little article below may be just the type of coaching you need to break out of you "NO" slump and find the "YES" that unlocks the door to your dream(s).

Hooray! The Prospect Said NO!
 
by Richard Fenton & Andrea Waltz
 
You walk out of the office, shoulders slumped and head hanging low. The meeting did not go the way you had hoped.

Shoving through the glass doors and exiting the building you heave a sigh, the words of your prospect still ringing in your ears, "No, we're going to pass."  Motivation is dwindling fast. For a moment, you think about heading back to the office and blowing off your last call of the day in favor of catching up on paperwork.

But what if it didn't have to be this way?

Imagine getting a "no" from a prospect and then pushing through those same doors happy, excited and energized.  Imagine actually thinking to yourself, "Hooray, the client said no!"

In order to tap into the "power of no" there are 3 key strategies that you can apply today.
 
1) Change your mental model of "success" and "failure."
Most people operate with the following mental model: 

SUCCESS (Yes) << YOU>>  FAILURE (No)

They see themselves in the middle, with success on one end and failure on the other. They do everything they can to move toward success and away from failure. But, what if that model was wrong?  What if that model was reconfigured?   

YOU >>  FAILURE (No) >>  SUCCESS (Yes)

What if, rather than seeing failure as something to be avoided, it became a "stepping stone" on the path to success? Put another way: Yes is the destination, but "no" is how you get there. 

To achieve significant success in today's world, top performers do not see success and failure - yes and no - as opposites, rather opposite sides of the same coin that depend on each other.

Success is, to a large degree, a numbers game.  As such, one of the fastest ways to increase your success is to intentionally increase your failure rate. In other words, increase the number of times you hear prospects say "no" to you.  Of course, increasing the number of times you hear "no" will eventually increase the number of times you hear "yes".

2) Create "no-awareness" by counting your "no's".
Here's a question for you: How many total "no's" did you personally obtain yesterday?  Last week?  Last month?  Where are you for the year?  Do you know?  Well, you should!

Most people, if they actually counted the number of times they hear "no" during a typical day or week, would be shocked to see how low that number actually is.  If you don't know your number, it's time for you to start counting every "no" you hear, because the very act of counting your "no's" will increase your no-awareness and that, in turn, will enhance your no-focus.
 
3) No doesn't mean never, it means not yet.
Woody Allen said that 80 percent of success is simply showing up.  While the power of showing up should not be underestimated, the reality is that showing up - in and of itself - is usually not enough.  The key to success is to show up, and then to keep showing up!  In a word: persistence.

Is this to suggest that when someone keeps telling you "no" you should stay at it forever?  No. Though Winston Churchill famously declared one should never, never, never quit... knowing when to quit is an important skill.  The problem is most people think that time has come long before it actually has!

How do you know the perfect time to quit?  Unfortunately, there is not a definitive number of "no's" at which one should throw his/her hands up and go home - after all, every situation and every prospect is different.  So the answer always begins with an analysis as to whether the person you're trying to sell to is a qualified buyer.  If they are unqualified (they neither want nor need what you have to offer), then you should pack it in and move on.  However, if they do need what you've got - even if they don't want it yet - then pursue them for as long as it takes!  
 
So the next time you walk out of a prospect's office having collected another "no", remember these five key points and say, "Hooray! I just got a no!" Because when you increase your failure rate and go for "no", the "yes" will eventually come... they always do!
 

Richard Fenton & Andrea Waltz are the authors of "Go for No!", a short powerful story written specifically for sales professionals in every industry who must learn to harness the power of no to be successful.  They are also the creators of the new personal development video documentary, "Yes is the Destination, No is How You Get There!"  To learn more, visit www.goforno.com or call 800-290-5028.

Do you dream of realistic ideals that are easily achieved or do you dream of things that others would think are impossible? Most of the people we read about in books today that lived successful and significant lives understood this concept of dreaming big and impossible dreams. They gave their lives to a greater cause that demanded more than others thought they could offer or do in a lifetime and now we reap the benefits of their ability to think big.

Think for a moment of the modern conveniences we share in every day; automobiles, airplanes, microwaves, television, internet, etc. Each of these items was created from an individual (or team of individuals) who had big dreams and they worked them from impossible to possible to the benefit of us all.

So you say “I’m not an inventor so why should I dream big?” Understandingly so, not all of us we’ll have the great minds to think of the next creature comfort invention but we do have the ability to think big in regards to the categories of our Life Plan. What is something big you’d like to achieve in the area of your Career (or Business), Education, Family/Relationships, Finances, Health, Pleasure/Leisure, Public Service and/or Spiritual life that would be considered impossible considering the circumstances?

Let your mind consider the possibilities and put it in your personal Life Plan. To put these outlandish dreams into your plan will begin the change in your philosophy on what is truly possible and it will give you a sense of excitement and adventure to your life.

If you continue to believe that you’ll never work in that perfect career, get that college degree, rekindle a relationship with an old friend, be worth a million dollars (or more), lose 40 pounds, take a trip around the world, give a million dollars to charity, gain an understanding of your faith, etc. then it will never have a chance to become a reality. Begin to change your philosophy on what is possible in your life by adding a few impossible dreams to your Life Plan. Once they ‘re created be sure to add a few “possible” Goals and Action Steps that you can achieve right now to move you in that direction.

“Follow your dream…take one step at a time and don’t settle for less, just continue to climb. Follow your dream…if you stumble, don’t stop and lose sight of your goal, press on to the top…For only on top can we see the whole view, can we see what we’ve done and what we can do, can we then have the vision to seek something new… Press on, and follow your dream."

Amanda Bradley

Perspective
The second P in my 7 P's Formula for extraordinary results is to have the right perspective on your opportunities and future. Ancient wisdom tell us ‘As ye believe, so shall it be done unto you.’  So if we want to achieve extraordinary results we first need to believe it’s possible. 

Today you may see a journey ahead to your goals that is too overwhelming to even think it's possible.  My advice is to start with believing you can achieve something smaller that is more achievable to you and focus in on making that one thing come to reality.  You'll be amazed at what a little success in a small accomplishment can do for your perspective on the future.

Remember, if you think putting in a little extra time, work and effort to achieve your goals is an inconvenience or too hard then you will most likely quit early. Your perspective determines the path you will take and not all paths lead to the accomplishment.

 

What's The Secret Formula to Achieve Extraordinary Results?

Here's the first "P" in my 7 P's Formula...

Purpose
Write down what you want to achieve and as many of the reasons why you want to achieve it as you can.  I've learned the more reasons you have to achieve different results, the stronger your desire will be to commit to the efforts necessary to make it happen.  Take a moment and clarify how the following areas of your life would improve if you were able to achieve your goal(s)...

• Family - How would your relationship with your spouse, kids, parents, brother, sister, etc. improve?

• Faith - How would your faith and spiritual life be enhanced?

• Friends - How would your friendships improve?

• Fitness - How would your health improve?

• Feelings - How would your feelings improve about yourself, your future, your opportunities?

• Fun - How much more fun would you be having in life?

• Firm - How your career/business improve? 

I've learned it's far greater to be clear on the reasons WHY you want to achieve some worthwhile goal than it is to understand HOW to achieve it. When the reasons WHY become stronger they will act like a magnet that pulls you through the difficulties of the HOW portion. 

"Skills multiply labors by two, by five, by 10, by 50, by 100 times. You can chop a tree down with a hammer but it takes about 30 days, called labor. But if you trade the hammer in for an ax, you can chop the tree down in about 30 minutes. What’s the difference between 30 days and 30 minutes? Skills. Skills made the difference.

So do what you can—labor. But also do the best that you can do—improved skills. And you will find that the labor combined with skills will start producing miracles. Miracles with your money. Miracles with your family. And miracles in every part of your life."

Jim Rohn
America's Foremost Business Philosopher