How much of your business and your career is about building wealth?
We had some discussion about this recently in our regular Wednesday morning small group focused on applying one's Christian faith in the workplace. Part of that meeting's agenda is reading the Proverbs Chapter of the Day aloud (there are 31 chapters, one for every day of the month) and this book of wisdom addresses the topic of wealth repeatedly.
Participating in the discussion, I chimed in with this: "Wealth isn't about how much you have; it's about how little you need." I'm not sure where it came from, so if you can find it somewhere, please advise so I may give its source proper credit. If it's original, so be it; I'd like to verify that if possible.
At any rate, this morning I was reading my daily Writer's Almanac from Garrison Keillor who mentioned that August 30 is Warren Buffett's birthday. Days earlier my friend and business partner Dr. Marvin Arnsdorff told of his experience in Lincoln, Nebraska, attending a event in which Mr. Buffett commented, as part of a panel of experts, on the new documentary "I.O.U.S.A." (I need to see this one.) It is estimated and widely believed that Buffett is second only to Bill and Melinda Gates among the world's highest net worth individuals/couples.
At any rate, when something as eclectic as the name Warren Buffett hits my radar screen twice, close to home and in short order, I look at that as something beyond mere coincidence, in which I don't believe, and observe and reflect on the possible significance.
So here's an excerpt of Keillor's take on the life of Buffett:
"Despite his massive wealth, (Buffett) lives relatively frugally, still residing in the home he bought in 1958 for $31,500, driving his own car, and allotting himself an annual salary from his investment company of about $100,000. In 1988, he said: 'I don't have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks on society. It's like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. And the GNP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don't do that though. I don't use very many of those claim checks. There's nothing material I want very much. And I'm going to give virtually all of those claim checks to charity when my wife and I die.'"
Buffett may never make it in an episode of "Lifestyles of the Rich and Famous" because his idea of wealth isn't to flaunt as one of the haves and separate himself from the have nots. He simply doesn't fit mainstream media's stereotyped look of the wealthy. His is, however, closer to what you'll find in reading the biography of Sam Walton and others for whom wealth is simply an outgrowth of what they enjoyed doing and did very well. Sam Walton drove that same old red pickup, it is said, until his passing. Nothing flashy, nothing jet set about it.
So how will your wealth be apparent when your ship comes in? Will you continue to live as you do now or will having more than you'll ever need change your lifestyle permanently? For all the silliness of "The Beverly Hillbillies" television series, the Clampett family illustrated very clearly that taking the folks out of the hills doesn't take the hills out of the folks. Buddy Ebsen's memorable character usually looked curiously at the trappings of the ultra well-to-do. Jedd Clampett always seemed to rise above and remain connected to his former way of life.
Moreover, what's stopping you right now from claming the wealth that is yours with the lifestyle that so many enjoy along with the freedoms of the United States of America? Remember, it's not how much you have (Good luck scoring near the top on that constantly moving target of conspicuous consumption!) it's how little you need to have joy, purpose and peace in your life.
Keep the faith,
John Earl Carroll
Saturday, August 30, 2008
Tuesday, August 5, 2008
Bouncing or building?
A client recently described his business (bustling in the midst of what many consider an "Oh, woe is me," economy) as playing that game in the arcade where the object is to strike the toy animal in the split second that its head pops out of a hole. Working effectively in the basics of relationship selling, this client is growing his young firm and refining systems to service what he sells.
I sense that many people operate their careers by playing a form of this game. The object, it appears, is to guess where the money-making opportunity will pop up, be standing there and ready to pounce, cat-like, before the money and the opportunity go back into hiding.
This "career roulette" seems particular evident in today's economic climate. People are second-guessing their choice of employment withi many looking around for something better. They may be coming off some abundant years in which their standard of living rose as quickly as their personal income. Then, with a slowdown in their business, the discomfort sets in and they begin looking around for the Next Big Thing.
I'd like to have a dollar for every time someone has asked me, "So, are you still doing the same thing?" If you're asking whether I've stuck to the knitting and continued to improve in my chosen profession and craft of organizational development and related disciplines, yes. It's what I do. Sure, I've tried some things through the years that simply don't fit within my gifts and passions. I've also learned the accompanying lessons, some more costly than others. The point here is that I never left.
How about you? As you look back on your career, are you bouncing or building? If you're bouncing from opportunity to opportunity, from job to job, looking for that big payday, you've probably experienced disappointment more than once. If the mother lode continues to elude you, perhaps there's a message in there.
If, on the other hand, you're building, you might be experiencing the ups and downs that come with the cyclical economic times in which we live. If you're building, you're looking for and trying approaches that will apply the very best of what you've learned to take full advantage of marketplace opportunities.
For example, if you happen to be a real estate professional, you have some choices. You can bounce to another business altogether since sales are down from their all-time high perches of just a couple years ago. You can also build by adapting your selling and service to opportunities that the market affords you. An enterprising entrepreneur in a free market economy can always find and exploit a niche if one looks closely enough and is willing to be flexible.
I find that when you love what you do, you're more likely to get better at it, find something closely related to it or simply retool your approach to do what you've been doing more effectively and efficiently. When you're in it for the money, it's easy come, easy go, and the repeated pattern of bouncing commences once more.
As my friend and mentor Nido Qubein says, it's not about timing the market; rather it's about time in the market. I encourage you to go to your favorite search engine and find Acres of Diamonds, a talk given by Russell Conwell, founder and first president of Temple University. Read or listen closely to the message in the story and consider the diamonds under your own feet right where you are. Then get moving to use your gifts, work within your God-given passion and make the most of what's right in front of you right now.
Keep the faith,
John Earl Carroll
I sense that many people operate their careers by playing a form of this game. The object, it appears, is to guess where the money-making opportunity will pop up, be standing there and ready to pounce, cat-like, before the money and the opportunity go back into hiding.
This "career roulette" seems particular evident in today's economic climate. People are second-guessing their choice of employment withi many looking around for something better. They may be coming off some abundant years in which their standard of living rose as quickly as their personal income. Then, with a slowdown in their business, the discomfort sets in and they begin looking around for the Next Big Thing.
I'd like to have a dollar for every time someone has asked me, "So, are you still doing the same thing?" If you're asking whether I've stuck to the knitting and continued to improve in my chosen profession and craft of organizational development and related disciplines, yes. It's what I do. Sure, I've tried some things through the years that simply don't fit within my gifts and passions. I've also learned the accompanying lessons, some more costly than others. The point here is that I never left.
How about you? As you look back on your career, are you bouncing or building? If you're bouncing from opportunity to opportunity, from job to job, looking for that big payday, you've probably experienced disappointment more than once. If the mother lode continues to elude you, perhaps there's a message in there.
If, on the other hand, you're building, you might be experiencing the ups and downs that come with the cyclical economic times in which we live. If you're building, you're looking for and trying approaches that will apply the very best of what you've learned to take full advantage of marketplace opportunities.
For example, if you happen to be a real estate professional, you have some choices. You can bounce to another business altogether since sales are down from their all-time high perches of just a couple years ago. You can also build by adapting your selling and service to opportunities that the market affords you. An enterprising entrepreneur in a free market economy can always find and exploit a niche if one looks closely enough and is willing to be flexible.
I find that when you love what you do, you're more likely to get better at it, find something closely related to it or simply retool your approach to do what you've been doing more effectively and efficiently. When you're in it for the money, it's easy come, easy go, and the repeated pattern of bouncing commences once more.
As my friend and mentor Nido Qubein says, it's not about timing the market; rather it's about time in the market. I encourage you to go to your favorite search engine and find Acres of Diamonds, a talk given by Russell Conwell, founder and first president of Temple University. Read or listen closely to the message in the story and consider the diamonds under your own feet right where you are. Then get moving to use your gifts, work within your God-given passion and make the most of what's right in front of you right now.
Keep the faith,
John Earl Carroll
Friday, August 1, 2008
Fasting for fun and profit
If you think the news is all bad these days, you're not alone. News junkies everywhere are feeling the effects of their addiction.
Author Wayne Dyer defines addiction as the condition of never getting enough of something you don't want. Think about it: do you really want more bad news? By sticking to a regimen of audio, print and online news feeds that you consult several times daily (or hourly) you're probably piling bad news on top of bad news. When this happens within a period characterized by wide swings in economic conditions, it may feel as if there's just no end to the bad stuff.
What do you believe?
In the movie Pretty Woman, the prostitute Vivian, portrayed by Julia Roberts, reflects exactly what happens when we've heard negative things repeatedly: "The bad stuff is easier to believe. You ever notice that?"
So what do you believe? Whatever the news editors, broadcasters and columnists are delivering? Remember that their first job is to get you to come back later today, tomorrow and again the next day. If good news could get that done, media would be singing exactly that tune. It appears, however, that people feed early and often on the "bad stuff" and keep coming back for more.
What is most critical for you in the current economic climate? Is it to be informed up to the millisecond on global, national and local news and headlines with in depth commentary on virtually everything? Or is it to focus on what is most important for you personally, professionally, spiritually, mentally, emotionally and physically? if you believe the strong will survive even the most adverse conditions, you'll want more of what strengthens you.
So here may be the most critical question: do you really believe that most of what you see/hear/read in the news strengthens you? if you're not sure, consider how you feel after giving your undivided attention to 30 minutes of news or news commentary.
How to get stronger sustainably
Here are three tips to help you survive and thrive the onslaught of bad (and worse) news:
1. Do a news fast - Set a day when your routine usually includes consumption of news and plan ahead to do without for a 24-hour period. If this is too much all at once, try skipping a regular period of news, such as you might normally get in the morning while you're getting ready to head off to work, for five straight days. If you're worried that you might miss something, don't. Two reasons why: first, the big stuff will still find you somewhere in your regular movements during the day - glancing at a newspaper headline here or walking by a television news cast there - so if there's an earth-shattering event, you'll know. Second, we're surrounded by amateur CNN correspondents who will fill you in on something they've consumed in their time spent with the news.
2. Fill the void with mental protein - If you're skipping news you get while driving, substitute instructional or inspirational audio, even a book on tape. Just make it something that feeds your mind the good stuff. If you have none, check a title out of the public library to sample it free of charge. If you're skipping news at home or at the office, pull out a book that gives you new perspective on your work or priorities. Make sure it's insightful, educational, even motivational in content and make it a meal.
3. Get around positive people - Remember that misery loves company and people talking about misery love audiences. Don't even buy a ticket for such performances. Instead, find someone who is getting things done regardless of the economic landscape and meet that person over breakfast, lunch or coffee. Even a short discussion with an individual with a possibilities perspective can make all the difference in your day, week or month.
Yes, I know what I'm suggesting here. You're reading this through a medium that delivers news. You don't have to give it up altogether. Just give it a break - systematically and purposefully - and see how you feel after a day or two or even a week. You're likely to see and feel a difference that puts you in a more productive and positive mindset.
Keep the faith,
John Earl Carroll
Author Wayne Dyer defines addiction as the condition of never getting enough of something you don't want. Think about it: do you really want more bad news? By sticking to a regimen of audio, print and online news feeds that you consult several times daily (or hourly) you're probably piling bad news on top of bad news. When this happens within a period characterized by wide swings in economic conditions, it may feel as if there's just no end to the bad stuff.
What do you believe?
In the movie Pretty Woman, the prostitute Vivian, portrayed by Julia Roberts, reflects exactly what happens when we've heard negative things repeatedly: "The bad stuff is easier to believe. You ever notice that?"
So what do you believe? Whatever the news editors, broadcasters and columnists are delivering? Remember that their first job is to get you to come back later today, tomorrow and again the next day. If good news could get that done, media would be singing exactly that tune. It appears, however, that people feed early and often on the "bad stuff" and keep coming back for more.
What is most critical for you in the current economic climate? Is it to be informed up to the millisecond on global, national and local news and headlines with in depth commentary on virtually everything? Or is it to focus on what is most important for you personally, professionally, spiritually, mentally, emotionally and physically? if you believe the strong will survive even the most adverse conditions, you'll want more of what strengthens you.
So here may be the most critical question: do you really believe that most of what you see/hear/read in the news strengthens you? if you're not sure, consider how you feel after giving your undivided attention to 30 minutes of news or news commentary.
How to get stronger sustainably
Here are three tips to help you survive and thrive the onslaught of bad (and worse) news:
1. Do a news fast - Set a day when your routine usually includes consumption of news and plan ahead to do without for a 24-hour period. If this is too much all at once, try skipping a regular period of news, such as you might normally get in the morning while you're getting ready to head off to work, for five straight days. If you're worried that you might miss something, don't. Two reasons why: first, the big stuff will still find you somewhere in your regular movements during the day - glancing at a newspaper headline here or walking by a television news cast there - so if there's an earth-shattering event, you'll know. Second, we're surrounded by amateur CNN correspondents who will fill you in on something they've consumed in their time spent with the news.
2. Fill the void with mental protein - If you're skipping news you get while driving, substitute instructional or inspirational audio, even a book on tape. Just make it something that feeds your mind the good stuff. If you have none, check a title out of the public library to sample it free of charge. If you're skipping news at home or at the office, pull out a book that gives you new perspective on your work or priorities. Make sure it's insightful, educational, even motivational in content and make it a meal.
3. Get around positive people - Remember that misery loves company and people talking about misery love audiences. Don't even buy a ticket for such performances. Instead, find someone who is getting things done regardless of the economic landscape and meet that person over breakfast, lunch or coffee. Even a short discussion with an individual with a possibilities perspective can make all the difference in your day, week or month.
Yes, I know what I'm suggesting here. You're reading this through a medium that delivers news. You don't have to give it up altogether. Just give it a break - systematically and purposefully - and see how you feel after a day or two or even a week. You're likely to see and feel a difference that puts you in a more productive and positive mindset.
Keep the faith,
John Earl Carroll
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