Thursday, August 05, 2010

Create wealth by REUSING what you already have and are

Here's a success secret that not too many people know. You'll see shortly why Einstein was totally right when he said that imagination is more important than intelligence.

Here's the secret principle for creating massive wealth:

Reuse what you already have and are.

When people seek wealth leading, of course, to financiall freedom (if your annual passive income surpasses the cost of sustaining your favorite lifestyle), they usually focus on acquiring MORE.

More assets, more clients, more products, more markets, etc.

Nothing wrong with that, except that it's arithmetic, not geometric.

Arithmetic, means 2 + 3 +4, etc.

Geometric, means 2 X 3 X 4!

Arithmetic gives you a score of 9, while geometric gives you 24.

Each number can refer to the value of each asset you have. So "2" could refer to the value of your cell phone, "3" could refer to the value of your laptop, etc.

So 2 + 3, means you're putting your cell phone beside your laptop. Together, they have -- on a balance sheet -- a combined value of 5.

2 X 3, however, means you use your cell phone IN CONJUNCTION with your laptop, so as to reuse both in a second way.

Reusing ANY asset in a DIFFERENT way, will AUTOMATICALLY increase its value (no matter what your accountant will say, since he focuses on the book value of an asset and NOT on its "use value").

This is why Swiss knives are so popular: you can use them for SO MANY DIFFERENT PURPOSES.

Okay, here's an example of how you might be using your cell phone IN CONJUNCTION with your laptop.

Your laptop is connected to the Web, and on your cell phone, you have a client. So you walk him through an online PowerPoint presentation that you've uploaded on Google Docs.

Your cell phone is used WITH your laptop, to create value (educational value in this case).

Specifically, your client gets audio and visual.

In such a case, your cell phone has a HIGHER value, and so does your laptop.

This HIGHER value is added on top of the initial value of a cell phone (talking) and the initial value of a laptop (working alone).

Your mission, should you choose to accept it, is to identify all your current assets and devise ways to use them DIFFERENTLY, either by themselves or in conjunction with other assets.

Notice that this geometric method of increasing your value, does NOT require that you spend cash on acquiring NEW assets (equipment, client list, prospect list, furniture, etc.).

However, it does require imagination. You must imagine what MORE your current assets CAN do for you (or for your client).

It requires right-brain thinking. It requires that you "unfocus" temporarily from what you THINK an object is designed to do, and then you give that object a NEW function or usage.

A rather extreme example of how a person has used his imagination to create massive wealth, is Craig Newmark, founder of Craigslist.

He used the Internet in a DIFFERENT way, to enable millions of people to anonymously do transactions with millions of other people.

Today, 50 million users use Craigslist every month.

My point is that wealth comes from your imaginative reuse of existing assets.

In the next post, I'll talk about how I use Audacity (a free sound editing software application) in conjunction with Windows Movie Maker (also free) to create instructional videos I upload at www.youtube.com/sensemontreal.

Notice that, once again, these apps by themselves don't offer as much value as when you use them TOGETHER.

It is by making assets work TOGETHER in capitalistic fashion, that you create massive wealth.