The Science of Getting Rich, a book written in 1910 by Wallace Wattles, is one of the big influences for the Law of Attraction movement. It preceded Napoleon Hill’s Think and Grow Rich (1937), and was credited as one of the inspirations for Rhonda Byrne’s popular movie The Secret (2006).
Since the book is in the public domain, you can read the full book for free here or listen to the full audiobook on youtube here.
This book has some very inspirational concepts (which I summarize below). However, the title itself, and the way the book starts, is hubristic and misleading. I’ll offer my thoughts on that, below my summary of its principles.
Let me share the good nuggets first, so you can see why it’s such a popular book:
Have you delayed your business progress, or felt stuck, because of big questions such as:
These questions carry a finality that can overwhelm. It’s like once you answer it, you lose your flexibility. “The decision would affect so many little things!” you say. No wonder we procrastinate before moving on such an important question. It can keep us stuck for years.
Are you a “perceiver” or a “judger”?
Can you guess what I am?
Entrepreneurs tend to be Perceivers, according to a 2017 study by the company that publishes the famous Myers-Briggs Type Indicator… which is where the perceiver/judger dichotomy comes from.
In this article I'll summarize what I've learned about Perceivers and Judgers, and talk about how each type's strengths are needed in business.
Have you heard that you should “Charge what you’re worth?”... that in your pricing, you should “claim” or “stand up for your value”?
What does that really mean?
How much is your value… how much are you worth anyway? $25/hour? $150/hour? $500/hour? $10,000/hour?
Does this mean that people who charge more are worth more? Words matter. It shapes how we see other people and ourselves. Connecting fee structures to "worth" sets up a deeply unhealthy comparison.
Are you worth more than someone who charges less? Or are they “worth” more than you?
I’ve done 5 months in my side business, working on it for only 2 hours per week, focused on audience building.
There’s now been 2,400 people who have engaged with my content on my secret Facebook page. I don’t even have a website or mailing list yet, but I can always reach those same 2,400 people again using Facebook ads’ “custom audience” feature ("Everyone who has engaged with your page.")
I’ve now spent about $1,000 in Facebook Ads for this new business, or approx $200 per month. All of it has gone towards promoting my content, nothing for sale yet.
If you’re just starting out and can’t spend that much, even $20 per month will help you reach your new ideal audience. The more you’re able to spend, however, the faster your audience will grow.
Here are the lessons I’ve (re)-learned this past month:
George Kao is a Marketing Coach for small business owners, especially solopreneurs such as Coaches and Mentors. He focuses on ethical & effective ways to grow one's platform and build true livelihood.
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Here's why :)