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 heard that you should “Charge what you’re worth?”... that in your pricing, you should “claim / stand up for your value” ?
Let's look more deeply at this.
How much is your value?
How much are you worth? $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 very unhealthy comparison.
Are you worth less than someone who charges more?
One of my clients was concerned about her financial future. As an entrepreneur now, instead of working for an organization, she’s no longer building up her pension. Now it’s up to her to create her own retirement plan.
This is making her susceptible to the hype of marketers who are promising 7 figure incomes. Maybe some of you can relate.
I say it all the time -- be wary of signing up for any program that tempts you with high income possibilities. They’re usually expensive, and are often a bad investment.
Also, it’s not healthy to be in an environment that keeps prioritizing the dream of huge external rewards: it’s important to understand your own extrinsic vs. intrinsic motivations in business.
Still, it is wise to plan for one’s financial future...
However, instead of dreaming of huge returns from get-rich-quick schemes, what can we do to make sustainable and realistic progress towards for retirement?
Over the years, I have seen a lot of people making this mistake -- buying into expensive business/marketing training/coaching programs.
In these programs, they're with a group of hundreds of other students, with high hopes that the energy of the program will somehow propel them toward success...
As someone who has sold such programs myself, and have partnered with dozens of others to sell these, I can tell you this:
These programs are highly profitable for the seller, there's no doubt.
But they are also a very poor investment for the buyer...
Over the years I’ve seen many people try to work on their “money mindset”...
Is it actually effective?
So many friends and colleagues have spent thousands of dollars (and years of effort) working on healing or clearing their money blocks, or dissolving “limiting beliefs”… and yet, years later, they are still struggling with the same money issues...
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 :)