Sunday, December 7, 2008

Rule #1: Invest in Yourself

By Ian Pelham

If there is one rule that stands head and shoulders above all others, it is the one that says, "Invest in Yourself!"

This saying gets repeated over and over again by a great many people and yet it is possibly one of the least acted upon rules out there. Chances are you don't really know what it even means. Let me explain.

An internet business doesn't exist in a world of bricks and mortar, only in the virtual world of the internet, and in the heart and mind of its owner.

In short: YOU are your internet business. You are all that your internet business really consists of.

If you had a real world business you could make improvements to the building or to the landscaping and people would see that improvements had been made and be drawn in to see what kind of improvements had been made in the merchandise that was being offered.

With an online business you can change the look of your website but to make any real impact on your internet business you need to make improvements to yourself. You need to invest in yourself. It's not easy but you can't improve your internet business unless you improve yourself first.

The question you might ask is, "How do I invest in myself and what do I invest in myself"? Well, I'm not talking about getting a $200 haircut or a designer suit. I'm talking about learning and expanding your knowledge base so that your business can benefit from it.

If you devote only one single hour a day to reading newsletters or articles that pertain to your business, it will add up to a lot of hours every month and you will be investing in yourself.

Enrol in a couple of courses, listen to teleseminars and webinars. These are the kinds of things that allow you to invest in yourself most effectively. This is the most important thing in online marketing.

Following on from investing in yourself is the principle of "Abundance Thinking".

What is 'Abundance Thinking'? There are two ways to think about business. The first is to believe that there are only a set number of customers out there and that you need to steal customers from your competitors in order to survive. This is 'Limited Supply' thinking and it is a very damaging way of approaching your business.

Limited Supply thinking may earn you a living, perhaps even a decent one, but it won't allow you to make the most money you possibly can. It's the complete opposite of Abundance Thinking.

'Abundance Thinking' believes that there is a more than enough business to go around and that we will do best by working with others to provide customers with the best possible experience. Customers aren't stupid, they know that when you advise them to buy something from someone else it costs you a sale. This very fact that you value their welfare over you making a sale earns you trust, which can reward you with more sales from them over the longer term.

Abundance thinking places the good of the team above the good of the individual in the belief that as the team prospers, so each individual prospers accordingly. This allows a team to be built with individuals bringing various specialist skills to the table whereby the customer has the best possible deal, the team wins the business and each individual earns more than they would have done had they tried to win over to customer on their own.

Limited Supply thinking is characterized by holding on firmly to what is yours, and refusing to share anything with anyone. A great deal of decisions are made according to what your competitors are doing. It is a very defensive method of thinking and very rarely are the customers welfare taken into account.

Abundance thinking is a proactive, offensive method. It concentrates on building good relationships with customers, suppliers, even competitors. It is the mark of a well adjusted, mature, competent and successful person.

Abundance Thinking allows you to share effectively with others whilst enabling you to make the most of the opportunities you have.

Abundance thinking is contagious. People will consider changing their methods of business when they see the way it works, plus many people will consider doing business with you since you will have earned their trust.

Abundance Thinkers experience more success than Limited Supply thinkers, especially in the realm of joint ventures.

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