paulstuart
05-26-2005, 04:52 AM
V.A.L.U.E.-based Wealth Creation Principles - By Paul Stuart
Don't Invest one cent of your hard-earned money until you check this guide...
Yes, I mean it.
Do you know that 9 out of 10 businesses failed in the first year? And out of the 10%, only 20% last for the next 5 years.
Why is this possible? Don't entrepreneurs during start-up done enough research? Is doing well in a business a matter of luck or are there princples to creating wealth?
To the Men and Women Who Want to Quit Work Someday and start a business:
After experiencing in many business, doing some research and reading many books, I glad to say that there are basically 5 essential principles of wealth creation.
They are the V.A.L.U.E.-based Wealth Creation Principles!
V- Value
I have many people coming to me, asking me how one can earn more money... My first question to them is 'What is Money?'
--> To have more money, we ought to know what money is.
You see... in the past, there is no such thing as money, we simply barter the things that we want. Money is used as a measurement of value.
Therefore money is a value.. So in order to earn more money, one has to create more value. The more value you create the more money you will earn.
---> With this in mind, evaluate the business that you are doing or about to do... Are you creating great value to your customers?
----> Wealth Creation = Creating Values
A- Audience
Creating value is extremely important, but your earning will be limited by your number of audiences (customers, prospects)
For e.g. A Success Coach vs a Singer. Who do you think will give more value to an individual? Without a doubt, it would be a coach.
Yes, of course; a Coach is capable of moulding the future of a coachee while a Singer may only provide some entertainment values.
However, who do you think will earn more money?
Because of the nature of work, a Coach's 'Audiences' are limited to 5 coachees and a Singer maybe a thousand.
Let's say the value created by the Coach and Singer are $500 and $50 respectively.
In this example,
Money = Value X Audience
Coach's income = $500 X 5 Audiences = $2,000
Singer's income = $50 X 1,000 Audiences = $50,000
---> Is your business capable of reaching the masses?
----> Wealth Creation = Creating Values X Audience
Internet is definitely a method to achieve this.
L- Leveraging
Leveraging is the key to multiply your business.
--> 'Give me a lever long enough and a place to stand, I can move the world.'by Archimedes
There are many forms of Leveraging, I will simply highlight two.
First, you got to have more people working with or for you and when this happens; you are multiply you.
Second, leverage on the synergy of a team. It is when one plus one equals many as mention in TEAM- Together Everyone Achieve Miracles.
---> Do you have a great team to work together with and are there alliances you can form to reach your business goals?
----> Wealth Creation = Creating Values X Audience X Leverage
U- Uniqueness
An Entrepreneur doesn't really have a business, if it performs the same activities as its competitors.
To be successful you should have a business, which has strong points of difference from your competitors'.
When you have a unique business; you control 2 important areas. They are the prices or rates of your products and the location of your business.
And you could not be doing a business that have many competitors selling the same products.
When you have a unique business, people comes to you and you control the prices!
---> What are the uniqueness of your business?
----> Wealth Creation = Creating Values X Audience X Leverage X Uniqueness
E- Efficiency
What is the different between a person who has earned a million dollars and a person who has not?
The answer is 'the person'!
YES, the person who is you determines the entire formula to your wealth creation.
When you are more efficient, you can reach your goals faster.
In what scenerios, will you be most efficient? Basically, when you are doing a business that (1)you enjoy and (2)you are good at.
Choose a business that you are passionate about; this is when works meet play and you need not work another single day.
Your strengths or your full potential when fully unleashed will bring your business further as your strengths in most cases are many times greater than your weakness.
---> How to make your business enjoyable and increase your ability to do it better?
----> Wealth Creation = Creating Values X Audience X Leverage X Uniqueness X Efficiency
The Above-mentioned are valuable lessons that I learnt for my many years
doing business..
In conclusion, I would like to share a simple but powerful quote from one of
my mentors,
'There are no successful businesses; there are only successful people'
The only way to have a permanent successful business(wealth creation) is to
be a successful person.
Stay focus and stay successful.
Other articles:
http://www.selfgrowth.com/articles/Stuart1.html
http://www.selfgrowth.com/articles/Stuart2.html
http://www.selfgrowth.com/articles/Stuart3.html
Interesting Site (http://www.usd10.ws)
Don't Invest one cent of your hard-earned money until you check this guide...
Yes, I mean it.
Do you know that 9 out of 10 businesses failed in the first year? And out of the 10%, only 20% last for the next 5 years.
Why is this possible? Don't entrepreneurs during start-up done enough research? Is doing well in a business a matter of luck or are there princples to creating wealth?
To the Men and Women Who Want to Quit Work Someday and start a business:
After experiencing in many business, doing some research and reading many books, I glad to say that there are basically 5 essential principles of wealth creation.
They are the V.A.L.U.E.-based Wealth Creation Principles!
V- Value
I have many people coming to me, asking me how one can earn more money... My first question to them is 'What is Money?'
--> To have more money, we ought to know what money is.
You see... in the past, there is no such thing as money, we simply barter the things that we want. Money is used as a measurement of value.
Therefore money is a value.. So in order to earn more money, one has to create more value. The more value you create the more money you will earn.
---> With this in mind, evaluate the business that you are doing or about to do... Are you creating great value to your customers?
----> Wealth Creation = Creating Values
A- Audience
Creating value is extremely important, but your earning will be limited by your number of audiences (customers, prospects)
For e.g. A Success Coach vs a Singer. Who do you think will give more value to an individual? Without a doubt, it would be a coach.
Yes, of course; a Coach is capable of moulding the future of a coachee while a Singer may only provide some entertainment values.
However, who do you think will earn more money?
Because of the nature of work, a Coach's 'Audiences' are limited to 5 coachees and a Singer maybe a thousand.
Let's say the value created by the Coach and Singer are $500 and $50 respectively.
In this example,
Money = Value X Audience
Coach's income = $500 X 5 Audiences = $2,000
Singer's income = $50 X 1,000 Audiences = $50,000
---> Is your business capable of reaching the masses?
----> Wealth Creation = Creating Values X Audience
Internet is definitely a method to achieve this.
L- Leveraging
Leveraging is the key to multiply your business.
--> 'Give me a lever long enough and a place to stand, I can move the world.'by Archimedes
There are many forms of Leveraging, I will simply highlight two.
First, you got to have more people working with or for you and when this happens; you are multiply you.
Second, leverage on the synergy of a team. It is when one plus one equals many as mention in TEAM- Together Everyone Achieve Miracles.
---> Do you have a great team to work together with and are there alliances you can form to reach your business goals?
----> Wealth Creation = Creating Values X Audience X Leverage
U- Uniqueness
An Entrepreneur doesn't really have a business, if it performs the same activities as its competitors.
To be successful you should have a business, which has strong points of difference from your competitors'.
When you have a unique business; you control 2 important areas. They are the prices or rates of your products and the location of your business.
And you could not be doing a business that have many competitors selling the same products.
When you have a unique business, people comes to you and you control the prices!
---> What are the uniqueness of your business?
----> Wealth Creation = Creating Values X Audience X Leverage X Uniqueness
E- Efficiency
What is the different between a person who has earned a million dollars and a person who has not?
The answer is 'the person'!
YES, the person who is you determines the entire formula to your wealth creation.
When you are more efficient, you can reach your goals faster.
In what scenerios, will you be most efficient? Basically, when you are doing a business that (1)you enjoy and (2)you are good at.
Choose a business that you are passionate about; this is when works meet play and you need not work another single day.
Your strengths or your full potential when fully unleashed will bring your business further as your strengths in most cases are many times greater than your weakness.
---> How to make your business enjoyable and increase your ability to do it better?
----> Wealth Creation = Creating Values X Audience X Leverage X Uniqueness X Efficiency
The Above-mentioned are valuable lessons that I learnt for my many years
doing business..
In conclusion, I would like to share a simple but powerful quote from one of
my mentors,
'There are no successful businesses; there are only successful people'
The only way to have a permanent successful business(wealth creation) is to
be a successful person.
Stay focus and stay successful.
Other articles:
http://www.selfgrowth.com/articles/Stuart1.html
http://www.selfgrowth.com/articles/Stuart2.html
http://www.selfgrowth.com/articles/Stuart3.html
Interesting Site (http://www.usd10.ws)