When starting any business, whether it is full-time or part-time, we all know the value of having plenty of capital or money... And yet I bet we both know—or at least have heard of—people who started with no capital and then went on to make fortunes. How is this possible?
Well, I believe there are actually ten things more valuable than capital which can lead to your entrepreneurial success. Let me give you the list...
Time.
Time is more valuable than capital. The time you set aside not to be wasted, not to be given away. Time you set aside to be invested in an enterprise that brings value to the marketplace with the hope of making a profit. Now we have capital time.
How valuable is time? Time properly invested is worth a fortune. Time wasted can be devastation. Time invested can perform miracles, so make sure you invest your time.
Desperation.
I have a friend, Lydia, whose first major investment in her new enterprise was desperation. She said, "My kids are hungry, I've got to make this work... If this doesn't work, what will I do?" So she invested $10 in her enterprise selling a product she believed in. The $10 was to buy a few flyers so she could make a sale at retail, collect the money and then buy the product wholesale to deliver back to the customer.
My friend Bill Bailey went to Chicago as a teenager after he got out of high school. And the first job he got was as a night janitor. Someone said, "Bill, why would you settle for night janitor?" He said, "Malnutrition." You work at whatever you can possibly get when you're hungry. Years later, now Bill is a recipient of the Horatio Alger award— rich and powerful, and one of the great examples of lifestyle that I know. But remember, his first job—night janitor. Desperation can be a powerful incentive. When you say, "I must...."
Determination.
Determination says, "I will..." First Lydia said, "I must find a customer." Desperation. Second, she said, "I will find someone before this first day is over." Sure enough, she found someone. She said, "If it works once, it will work again." Then the next person said, "No!" Now what must you invest?
Courage.
Courage is more valuable than capital. If you've only got $10 and a lot of courage, I'm telling you, you've got a good future ahead of you. Courage in spite of the circumstances... Humans can do the most incredible things no matter what happens. Haven't we heard the stories? There are some recent ones from Kosovo that are some of the most classic, unbelievable stories of being in the depths of hell and finally making it out. It's humans. You can't sell humans short. Courage in spite of—not because of—but in spite of... Now once Lydia has made three or four sales and gotten things going, here's what now takes over.
Ambition.
"Wow! If I can sell three, I can sell 33. If I can sell 33, I can sell 103." Wow. Lydia is now dazzled by her own dreams of the future.
Faith.
Now she begins to believe she's got a good product. This is probably a good company. And she then starts to believe in herself. Lydia, single mother, two kids, no job. "My gosh, I'm going to pull it off!" Her self-esteem starts to soar. These are investments that are unmatched. Now here is the next one, the reason why she's a millionaire today.
Ingenuity.
Putting your brains to work. Probably up until now, you've put about 1/10 of your brainpower to work. What if you employed the other 9/10? You can't believe what can happen. Humans can come up with the most intriguing things to do. Ingenuity. What's ingenuity worth? A fortune. It is more valuable than money. All you need is $10 and plenty of ingenuity.
Heart and Soul.
What is a substitute for heart and soul? It's not money. Money can't buy heart and soul. Heart and soul is more valuable than a million dollars. A million dollars without heart and soul, you have no life. You are ineffective. Heart and soul is like the unseen magic that moves people, moves people to buy, moves people to make decisions, moves people to act, moves people to respond.
Personality.
You've just got to spruce up and sharpen up your own personality. You've got plenty of personality. Just get it developed to where it is effective every day—it's effective no matter whom you talk to—whether it is to a child or whether it is to a businessperson. A unique personality that is at home anywhere.
My mentor Bill Bailey taught me, "You've got to learn to be just as comfortable, Mr. Rohn, whether it is in a little shack in Kentucky having a beer and watching the fights with Winfred, my old friend, or in a Georgian mansion in Washington, D.C. as the Senator's guest." Move with ease whether it is with the rich or whether it is with the poor. And it makes no difference to you who is rich or who is poor. A chance to have a unique relationship with whomever. The kind of personality that's comfortable. The kind of personality that's not bent out of shape.
Charisma and Sophistication.
And lastly, let's not forget charisma and sophistication... Becoming the person you want, while attracting other like-minded individuals into your ever-improving life.
This entire list is more valuable than money. With ten dollars and the list I just gave you, the world is yours. It belongs to you, whatever piece of it you desire, whatever level of excellence you wish for your life. I've given you the secret. What you choose to do with it is up to you....
To Your Success,
Jim Rohn
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