What is a Givetrepreneur?
Think Giving + Entrepreneur. An entrepreneur is a “the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits” (Source: Wikipedia). By taking business risks combined with giving, we can transform all of our business relationships to deliver abundant success!
I’m listening to an audiobook entitled, “The Go-Giver: a Little story about a Powerful Business Idea” by Bob Burg and John D. Mann. It’s a short book lasting less than 3 hours, but like most classics in this “Fictional Business Story” category like “The Greatest Salesman in the World” by Og Mandino, it’s one you’ll want to listen to over and over again.
In the “Go-Giver” audiobook, you’ll hear the story of Joe who’s a real “Go-Getter” but is facing diminishing returns with his current methods of doing business. He’s hit a wall of sorts that is blocking him from his relentless pursuit of success.
5 Secrets to Business Success
Joe meets a man named Pindar, who is also known as “the Chairman”. Pindar shares with Joe his Secret to Business Success = Giving. Pindar further reveals to Joe the 5 Laws of Giving. Pindar requires that Joe make a commitment to meet with him for 5 days straight, applying each law in his daily work in order to continue to the next days’ training. Pindar assures Joe that this will lead to greater personal fulfillment in work and life which will ultimately lead to financial success. Below are the 5 Laws:
1. The Law of Value: Your true worth is determined by how much more you give in value than you take in payment.
This law really just means that you are giving above and beyond what is expected. You might think this is foolish, that you are essentially discounting your payment. This law isn’t about discounting your current product or service, it’s about investing in a future relationship with your client. By giving more in value than you take in payment, you are marketing yourself not only to your client who feels very well served, but also on all of the people that your client shares how well you treated them. Those are potential clients that your client is introducing you and your company. Those free client references are worth every penny of extra value that your give your current client.
2. The Law of Compensation: Your income is determined by how many people you serve and how well you serve them.
This law realizes the principle of amplification. Amplification is simply “the process of enlarging or adding detail to”. If you want to grow your income you simply need to serve more people and serve them well. Often times this amplification takes place by expanding to a digital business. When your create digital products that contain a great deal of value, they are very easy to mass produce at an affordable price. You can then offer your digital products at a reduced cost but at the same time make more money because you can sell to a larger audience.
3. The Law of Influence: Your influence is determined by how abundantly you place other people’s interests first.
This law relates to how you view people. Are people just something to be used and manipulated? Or do you view people as unique singularly gifted individuals. If you view people as unique and special, you will seek to place their interests first and in so doing serve others in ways that they feel valued. Your influence will spread as the people you serve realize this and like in the first law they share how well they have been treated by you to their friends and colleagues.
4. The Law of Authenticity: The most valuable gift you have to offer is yourself.
This law is one of vulnerability. People appreciate when you share your life story with them. They want to know that you are human just like them. They want to know your foibles and flaws. This type of sharing is endearing and as people realize you are “real” with them, they want to be “real” with you and will become intensely loyal to you and your business.
5. The Law of Receptivity: The key to effective giving is to stay open to receiving.
This law states that we need to be able to receive. So often, as givers we almost feel guilty about receiving. Taking money can seem almost obscene to someone who is truly altruistic. But, if you will just view money as a “Certificates of Appreciation”, then you and your client will view the payment you receive as one of gratitude not one of you taking their money.
Giving is our core value. When you give you will likely receive more than what you give. What will you give today?
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