…unless they ask for it.
Seriously. How many times have you tried to convince someone their idea was wrong when they didn’t ask for advice? I’m guessing that nearly 100% of the time they didn’t take your advice.
Roy Williams quotes a friend as saying “Unsolicited advice is abuse.”
Help the people who want and ask for your expert advice. Spend your time there. Everything else is wasting your time.
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I have a big goal in 2010. By December I am going to have 10,000 downloads of our radio show. This morning I upped it to 15,000. This is pretty big considering it took us two years to get to the 1,000 mark.
Click here if you can’t view the video
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I joke often that, in spite of my degree in finance and career in the banking world, had I just read the Book of Proverbs I would have gotten a much better – and much cheaper – financial education. In this series I’ll highlight a few key principles from Proverbs that you can apply to your finances today.
“The rich rule over the poor and the borrower is slave to the lender,” is written in Proverbs 22:7.
The first significant decision I made when I graduated from college was to borrow nearly $20,000 to buy a new car. Did I mention that I had a degree in finance?
I drove that car with a who-cares-you-always-have-payments attitude for one year. Then I had a light bulb moment: I was paying over $400 each month on the loan and losing over $400 a month in depreciation.
That’s a monthly loss of over $800 in value.
The relationship between a borrower and lender is typically very cordial – as long as every payment is made on time (if not, the master cracks his whip). But could there be some other implication in this verse from Proverbs?
What if you took that $400 monthly car payment (or credit card, student loan, personal loan, signature loan, home equity line, home equity loan, timeshare loan, or medical bill payment), and invested it for 25 years? You’d wind up with over $530,000.
And that’s exactly what the lender gets. With the interest lenders make on loans, you’re essentially investing your money to build their wealth.
A slave works for a master without any ownership of or rights to what he produces. Transferring your wealth building power – your income – to a lender will keep you in bondage. Instead, invest your income’s power in the liberation effort! Use every last cent to break the chains of financial slavery for good.
You can be the master.
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I interviewed my friend John G. Miller (author of QBQ, Flipping the Switch and Outstanding!) on yesterday’s radio show and the issue of breaking the rules came up.
Breaking the rules could get you a big raise or even a promotion. It could also get you fired. What’s the difference? Management.
I want people on my team who break the rules. I want them to disregard what our “organization” once thought was best and do what’s right for the customer. ”It’s not our policy” is never said at Lukas Coaching.
The same level of thinking will make you successful in your own business. Jeff Bezos, the founder of Amazon, didn’t play by the rules of book selling when he launched his company. He completely redefined it and now Amazon is the largest book seller in the world.
Where do you need to break the rules?
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