How to Avoid A Financial Mauling
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And here’s your host, Matt Hardy.
Today I want to talk about the best way to increase your business knowledge.
The more sincere title is “The Fastest Way to Greatness.”
There’s a quote from Henry Ford that I like.
“Let me remind you that I have a row of electric buttons in my office. All I have to do is press one of them to call the person who can answer any question on any subject I wish to know, relative to the business at hand.”
I think this is important to remember when it comes to business – you can learn just about anything you want from other people’s knowledge and experience.
Henry Ford had a row of buttons.
We have the internet and other people’s experience.
So if Henry Ford was smart back then, how much smarter do we have the potential to be today with all of the information that is available to us?
Learning from other people is the quickest way to grow your business knowledge and the potential value that you can provide customers.
Let me put it this way:
You get paid more now than when you first started working at your job, or when you started your business.
And why is this?
It’s because with all your learning & experience you have been able to increase your efficiency and provide more value to your employer, your business or your clients than when you first started.
And how do you increase your efficiency and value?
By growing your business knowledge.
And if you can do that by learning from other’s experiences and insights, you’ll be saving yourself valuable time and the wasted energy of trying to re-invent the wheel.
Why go through all the pain and suffering of trying to study and figure out what’s already been done?
By using the wisdom of others, you’re able to grow your business knowledge and the value you can give exponentially.
It gives you the foundation from which you can continue to develop your own unique ideas to get further ahead.
It’s the reason why you’re listening to this podcast – because it’s the fastest way to grow your business knowledge.
Now, I’m not meaning that you should blatantly rip off someone else’s ideas.
But you can take what they’ve already proven to work and modify and adapt it to suit your purposes.
I think it was Charles Colton who said: “Imitation is the sincerest [form] of flattery”.
But I think Oscar Wilde said: “Imitation is the sincerest form of flattery that mediocrity can pay to greatness.”
At any rate, we learn, we adapt and we apply to suit our needs.
One time I remember sitting in Church listening to the pastor, and in the middle of his sermon, I remember thinking, “Man, that was a good point. I was just thinking about that a while ago.”
Then I remembered that I had been speaking to him the week before his sermon, and he just made THE EXACT SAME POINT.
And it stood out in my mind, because when I was speaking to him earlier, I remember him saying, “Ya, that’s a really interesting thought.”
He had blatantly ripped off my point word for word in his sermon.
I thought it was kind of ironic because the point I had made was about giving credit where credit was due.
I call it, “The Goodwill Hunting Rip Off.”
In the movie Goodwill Hunting, Matt Damon plays a math prodigy with a photographic memory named Will.
And in one scene he’s in an on-campus coffee shop where one of his friends named Chuckie (played by Ben Affleck) tries to pick up a girl.
In this middle of this, some ivy league guy named Clark interrupts the process and tries to run Chuckies’s show by embarrassing him in front of the girl.
It goes like something like this:
Chuckie: Are we gonna have a problem here?
Clark: No, no, no, no! There’s no problem here. I was just hoping you might give me some insight into the evolution of the market economy in the southern colonies. My contention is that prior to the Revolutionary War, the economic modalities, especially in the southern colonies, could be most aptly described as agrarian pre-capitalist.
Will: Of course that’s your contention. You’re a first-year grad student; you just got finished reading some Marxian historian, Pete Garrison probably. You’re gonna be convinced of that ’till next month when you get to James Lemon. Then you’re going to be talking about how the economies of Virginia and Pennsylvania were entrepreneurial and capitalist way back in 1740. That’s gonna last until next year; you’re gonna be in here regurgitating Gordon Wood, talkin’ about, you know, the pre-revolutionary utopia and the capital-forming effects of military mobilization.
Clark: Well, as a matter of fact, I won’t, because Wood drastically underestimates the impact of social…
Will: “Wood drastically underestimates the impact of social distinctions predicated upon wealth, especially inherited wealth”? You got that from Vickers’ “Work in Essex County,” page 98, right? Yeah, I read that too. Were you gonna plagiarize the whole thing for us? Do you have any thoughts of your own on this matter? Or do you, is that your thing, you come into a bar, read some obscure passage and then pretend – you pawn it off as your own, as your own idea just to impress some girls and embarrass my friend?
Will: See, the sad thing about a guy like you is, in 50 years you’re gonna start doin’ some thinkin’ on your own and you’re going to come up with the fact that there are two certainties in life: one, don’t do that, and two, you dropped 150 grand on a freakin’ education you could have got for a dollar fifty in late charges at the public library!
Clark: Yeah, but I will have a degree. And you’ll be servin’ my kids fries at a drive-thru on our way to a skiing trip.
Will: That may be, but at least I won’t be unoriginal. But I mean, if you have a problem with that, I mean, we could just step outside – we could figure it out.
Clark: No, man, there’s no problem. It’s cool.
So if someone rips off your original thought, it’s not the end of the world.
Because, at the end of the day, you know that you’re the original source.
And you’ve got plenty more great ideas where that came from.
If people can’t develop to where they are able to come up with their own original ideas, they will always be second best.
And no need to hate – everybody’s got to start somewhere.
People gotta have the basics down before they can form their own original opinion.
We just keep moving on, learning, growing, developing and innovating.
We learn from others as a starting point and then graduate to where our learning comes from doing.
If nothing else, if people rip off your stuff, it just means that you probably had a legitimately good idea.
This is one of the reasons why I try to include different links at the bottom of these podcasts on the website – to try and give credit where credit is due as much as possible.
We don’t want to start from square one and re-invent the wheel every time we start a project – if we learn from others who have already done it and then modify and tweak it to come up with an original, custom fit solution for our purposes.
But in order to do this, we need to keep learning and growing.
Here’s to increasing your business knowledge by standing on the shoulders of the greatness that has gone before us.
Want more customers, more sales, and more business? If you need to grow and develop your business, we have the answer. Visit BizDevShots.com now and click on the Biz Growth Solutions tab at the top of the page to find your solution.
I hope you got something out of this podcast.
An idea you can use.
A different thought or viewpoint.
Or maybe you found it mildly amusing.
At any rate, can you refer this podcast to one other person you think might find it entertaining or useful?
Because I want to help as many people as I can, in as short a time as possible.
Here’s something to listen to while you think about it…
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