Did you know 95% of businesses will never reach a million dollars in turn over, of the remaining 5% only 0.08% will reach 5 million dollars in turn over. And of the remaining 4% only 1.5% will reach $10 million dollars in turn over. Finally only 1 in 25 companies will only last 10 years and 96% of businesses won’t make it past 10 years.
Yet 94% of self made millionaires “did it” in business and I believe 15 new millionaires are created everyday in this country. So how come a seemingly large number of people have enormous success and a phenomenal number of people don’t.
So what makes all the difference? I believe I know…
The secret is in mastering a finite number of skills. The secret is in being an EXPERT at one thing at a time not being an EXPERT in everything, you see the better you are at something the more you get paid.
The big distinction between rich and poor is that rich people are EXPERTS at something, they MASTER one thing at a time and they learn to master things in increments. When I say increments I mean as you learn more and become better at something your income will grow incrementally in proportion to your knowledge and skill.
How do you know if you are skilful at something? Particularly when it comes to making money, I would say check your bank account. After all you can make excuses or you can make money, you can’t do both.
So if you want to get paid a lot, you have to become a ‘Master’. Remember, “Every Master was once a Disaster”.
In a business sense if you want to be part of the successful 4% that last 10 years or more, the thing you need to do is become an expert, a master in certain skills. The number one skill to master is Marketing.
So why is Marketing so important?
First and foremost there is NO money in your product or service, all the money is in your MARKETING of your product and service. Equally important is the fact that without marketing nobody knows about you, nobody knows that your product or service exists.
The first sign that your marketing is weak, is your bank account. So if you want to get rich you should become an EXPERT MARKETER because it’s the highest paying job on the planet.
So what is the definition of marketing? Here’s my interpretation, It’s “The business activity of PRESENTING products or services to POTENTIAL prospects in such a way as to make them EAGER TO BUY”
The three most important parts of that paragraph are “PRESENTING” which relates to exposure, “POTENTIAL” which relates to possibilities, and finally “EAGER TO BUY” which relates to desire and results.
The big leap for most people is realising you’re in the marketing business NOT in the business of providing products and services. When you realise this, as we do, all that changes is the XYZ. By that I mean you’re a marketing company that happens to sell XYZ. And for us the XYZ can come and go which ultimately means more opportunity for the marketers amongst us.
So I will leave you with these three questions:
1. What do you need to do to become a ‘Master’ of marketing?
2. If you did, how would your business need to change?
3. What effect would becoming a ‘Master’ of marketing have on your business financially, how much more successful would you be?
You see from my extensive experience most business owners, regardless of how well they are doing, could be doing a whole lot better. In fact most business owners are leaving more money on the table unbanked, than what they actually do bank.
So the greatest money making skill you can master, a skill that will put more money in your bank, than anything I know of, a skill that can be learned by virtually anybody is “Mastery of Marketing”.
All the best,
Committed to Elevating the Financial Wealth and Wellbeing of Society
Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism
P.S. If you’ve missed any of my previous Rants, I have them all available
for you to see on my website.