The Law of Capital by Brian Tracy
Law of Capital: Your most valuable asset, in terms of cash flow, is your physical and mental capital, your earning ability.
YOUR EARNING ABILITY You may not even be aware that, unless you are wealthy already, your ability to work is the most valuable asset that you have. By utilizing your earning ability to its fullest, you can bring thousands of dollars each year into your life. By applying your earning ability to the production of valuable goods and services, you can generate sufficient money to pay for all the things that you want in life. The amount of money that you are paid today is a direct measure of the extent to which you have developed your earning ability so far.
|USE YOUR TIME WELL The first corollary of the Law of Capital says, “Your most precious resource is your time.”Your time is really all you have to sell. How much time you put in and how much of yourself you put into that time largely determines your earning ability. Poor time management is one of the major reasons for poor productivity and underachievement in every industry in America. It is the No. 1 problem for both managers and salespeople in every field.|
|INVEST YOURSELF CAREFULLY The second corollary of the Law of Capital says, “Time and money can be either spent or invested.”One of the smartest things you can do is to invest 3 percent of your income every month back into yourself on personal and professional development, on becoming better at the most important things you do. In fact, if you just invested as much in your mind each year as you do in your car, that alone could make you rich.
Invest one hour of your time reading in your field every day. Listen to audio programs in your car. Attend every course that can advance you in your career. Get personal and professional coaching to help you to get the very best out of yourself.
GET BETTER AT THE THINGS YOU DO There is nothing that will give you a bigger and better “bang” for your buck than reinvesting a part of your time and money back into your capability to earn even more. All wealthy and successful Americans have learned this sooner or later, and all poor and unhappy Americans are still trying to figure it out.
INCREASE YOUR RETURN ON LIFE The third corollary of the Law of Capital says, “One of the best investments of your time and money is to increase your earning ability.”
The purpose of corporate strategic planning is to increase “return on equity,” or ROE. This requires organizing and reorganizing corporate activities so that the company is earning a higher return on the capital invested in the organization. In your work life, your personal equity is your mental and emotional capital. Your job then is to earn the highest possible return on your human capital, to increase your “return on energy.” This way of viewing yourself must become a key part of your attitude throughout your work life.
How to Turn Nothing into Something by Jim Rohn
Have you ever wondered how to turn nothing into something?
First, in order to turn nothing into something, you’ve got to start with some ideas and imagination. Now, it might be hard to call ideas and imagination nothing; but how tangible are those ideas? That is a bit of a mystery. I don’t believe that ideas that can be turned into a hotel, ideas that can be turned into an enterprise, ideas that can be turned into a new vaccine or ideas that can be turned into some miracle product, should be called nothing. But tangibly, you have nothing. Interesting! Think of it; ideas that become so powerful in your mind and in your consciousness that they seem real to you even before they become tangible. Imagination that is so strong, you can actually see it.
When I built my first home for my family in Idaho all those years ago, before I started construction, I would take my friends and associates out to the vacant property and give them a tour of the house. Is that possible? Is it possible to take someone on a tour through an imaginary house? And the answer is, “Yes, of course.” “Here is the three-car garage,” I used to say, and my friends would look and say, “Yes, this garage will hold three cars. ” I could really make it “live.” I would take them on a tour throughout the house…. “Here is the fireplace, and look, this side is brick and the other side is stone.” I could make it so real…. “Follow me through the rest of the house. Take a look through the picture window here in the kitchen, isn’t the view great?” One day, I made the house so real that one of my friends bumped his elbow on the fireplace. I mean, it was that real.
So, the first step of turning nothing into something is to imagine the possibilities. Imagine all of the possibilities. One of the reasons for seminars, sermons, lyrics from songs and testimonials of others is to give us an idea of the possibilities; to help us imagine and to see the potential.
Now here is the second step for turning nothing into something: You must believe that what you imagine is possible for you. Testimonials, like “If I can do it, you can do it,” often become a support to our belief. And we start believing. First we imagine it’s possible. Second, we start to believe that what’s possible is possible for us.
We might also believe because of our own testimonial. Here is what your testimonial might say: “If I did it once, I can do it again. If it happened for me before, it could very well happen again.” So we believe not only the testimonials of others who say, “If I can do it, you can do it; If I can change, you can change; If I can start with nothing, you can start with nothing; If I can turn it all around, you can turn it all around.” Then we also have the support of our own testimonial, if we’ve accomplished something before. “If we did it once, we can do it again. If we did it last year, we can do it this year.” So those two things together are very powerful. Now, we do not have actual substance yet, although it is very close.
Again, step one is to imagine the possibilities. Step two is to imagine that what is possible is possible for you. Here is what we call step two: faith to believe. In fact, one writer said this, “Faith is substance.” An interesting word: “substance,” the powerful ability to believe in the possibilities that are possible for you. If you have faith to believe, that faith is substance, substance meaning “a piece of the real.” Now it’s not “the real,” it’s not this podium, but it is so powerful that it is very close to being real, and so the writer said, “The faith is a piece of, the substance of.” He then goes on to call it evidence, substance and evidence. It is difficult to call substance and evidence “nothing.” It is nothing in the sense that it cannot be seen except with the inner eye. You can’t get a hold of it because it isn’t yet tangible. But it is possible to turn nothing, especially ideas and imaginations, into something if you believe that it is now possible for you. That substance and evidence becomes so powerful that it can now be turned into reality.
So the first step is to imagine what is possible, the second is to have the faith to believe that what is possible is possible for you. And now the third step is that you go to work to make it real. You go to work to make it a hotel. You go to work to make it an enterprise. You go to work and make it good health. You go to work and make it an association. You go to work and make it a good marriage. You go to work and make it a movement. You make it tangible. You make it viable. You breathe life into it and then you construct it. That is such a unique and powerful ability for all of us human beings. Put this to work and start the miracle process today!
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