200. Think "earnings per minute"
People who get rich don't think about "yearly salaries" and they definitely don't read salary surveys.
They are more concerned about "profit rate," which is grossly defined as the rate at which you "work less and less while earning more and more."
For them, the expression "time is money" has an added dimension. It doesn't just refer to the fact that "time is precious" but also that "how you use other people's time IS the way to make money."
But why should you learn to use other people's time?
It's because people will never give you their money unless they give you their time first, and if they don't give you their time, they most certainly will never give you their money.
What is the best way to get people to give you their time? Teach them something valuable or useful.
Progressive.com for instance got it exactly right. They openly share information even about their competitors (!) so that potential customers can make the right choices.
The world is indeed moving towards greater transparency. If you know something valuable, you should let all your connections know RIGHT AWAY. Unless your info has to do with some nuclear launch code, it will most likely become obsolete soon. If you don't share it now, it will be worthless in a few days / weeks.
By the way, the CIA does sell its intelligence products to allied nations. The intelligence community is a very "incestuous" circle where everybody sleeps with everybody else, it seems.
Anyways, I was saying that teaching is the best way to sell. When you teach, you necessarily sell. But when you sell, you don't necessarily teach.
Most people I know are very smart, yet I'm surprised they never looked into the possibility of setting up a blog to share their knowledge. I don't think it's laziness, I think it's just that people are not used to share their knowledge.
Even universities still don't get it. In their communications with alumni, they never teach anything new. They only invite alumni to events like barbecues or ask for donations, etc. They're universities, they should teach!
I suspect individuals will catch up and leverage technologies sooner than institutions.
And it's so easy! With www.audioblogger.com or www.odeo.com, you don't even have to type! You can just record your voice and talk about a topic you are knowledgeable about.
Blogging (whether through texts, audio files or video files) is a GREAT way to establish your credibility. It makes it so much easier for people to trust you.
At this point, I should explain what I mean by "earnings per minute."
Actually, it should be "earnings per minute per person."
It's the idea that you can "earn" a lot of money by capitalizing on every single available minute of every person you know, or who knows about you.
Indeed, in the new economy, making money is not about selling your time (which is what most workers do), but buying other people's time and using it to sell something to them (whether you made that something or bought it from someone else).
How do you buy other people's time? With knowledge -- the new currency of the cyber-economy.
They are more concerned about "profit rate," which is grossly defined as the rate at which you "work less and less while earning more and more."
For them, the expression "time is money" has an added dimension. It doesn't just refer to the fact that "time is precious" but also that "how you use other people's time IS the way to make money."
But why should you learn to use other people's time?
It's because people will never give you their money unless they give you their time first, and if they don't give you their time, they most certainly will never give you their money.
What is the best way to get people to give you their time? Teach them something valuable or useful.
Progressive.com for instance got it exactly right. They openly share information even about their competitors (!) so that potential customers can make the right choices.
The world is indeed moving towards greater transparency. If you know something valuable, you should let all your connections know RIGHT AWAY. Unless your info has to do with some nuclear launch code, it will most likely become obsolete soon. If you don't share it now, it will be worthless in a few days / weeks.
By the way, the CIA does sell its intelligence products to allied nations. The intelligence community is a very "incestuous" circle where everybody sleeps with everybody else, it seems.
Anyways, I was saying that teaching is the best way to sell. When you teach, you necessarily sell. But when you sell, you don't necessarily teach.
Most people I know are very smart, yet I'm surprised they never looked into the possibility of setting up a blog to share their knowledge. I don't think it's laziness, I think it's just that people are not used to share their knowledge.
Even universities still don't get it. In their communications with alumni, they never teach anything new. They only invite alumni to events like barbecues or ask for donations, etc. They're universities, they should teach!
I suspect individuals will catch up and leverage technologies sooner than institutions.
And it's so easy! With www.audioblogger.com or www.odeo.com, you don't even have to type! You can just record your voice and talk about a topic you are knowledgeable about.
Blogging (whether through texts, audio files or video files) is a GREAT way to establish your credibility. It makes it so much easier for people to trust you.
At this point, I should explain what I mean by "earnings per minute."
Actually, it should be "earnings per minute per person."
It's the idea that you can "earn" a lot of money by capitalizing on every single available minute of every person you know, or who knows about you.
Indeed, in the new economy, making money is not about selling your time (which is what most workers do), but buying other people's time and using it to sell something to them (whether you made that something or bought it from someone else).
How do you buy other people's time? With knowledge -- the new currency of the cyber-economy.
posted by Super Peter at 10:12 PM
<< Home