Thinking-Rich.com

If the idea of competition leaves you with a chill of fear, you need to step back and re-assess the product or service you’re offering. Even if you’re providing the most common widget in the world, no amount of competition can harm your business if you’re offering it in a manner no one else can.

I found that competition was supposed to be a menace and that a good manager circumvented his competitors by getting a monopoly through artificial means. The idea was that there were only a certain number of people who could buy and that it was necessary to get their trade ahead of someone else. … There are always enough people ready and anxious to buy, provided you supply what they want and at the proper price, and this applies to personal services as well as to goods. - Henry Ford

Supply what your market wants at the proper price. This doesn’t mean the cheapest price. In fact, you can charge much more than your competition for what appears to be the same service - if you offer a perceived added value. Find out what your competition is really selling for their price. Then do more.

• Do you offer a guarantee and They don’t?
• Do you offer a free ebook that explains how to get the most from the product or service and They don’t?
• Do you offer a discount on multiple orders and They don’t?
• Do you present yourself as a person your customer can relate to and They don’t?
• Do you offer any kind of customization and They don’t?

Here’s my favorite one … Are you making some sort of difference in the world that your target audience can relate to?

The best thing you can possibly offer an enlightened consumer is the proof you’re not doing business as usual. If you want wealth from your business, show how you having wealth can better the world/environment/kids/potbellied pigs/whatever. Show your gratitude by giving. And it doesn’t have to be money that you’re giving, especially if you’re just now building your fortune. Give your time, your ideas, donate some of your product/service to a worthy cause.

If you plan to become as wealthy as you deserve to be, it’s never too soon to start showing your gratitude. For what you’ve received and what you plan to receive.

Give more, get more. Jump into the flow and your competition will forever be staring at the dust in your trail.

~$~

Never say debt.

I don’t want to discuss debt often on this blog. Although it may be a very important issue to you, it’s not something you should set your focus on. Why?

Because what you concentrate on, you create.

Thinking of debt is not thinking rich. It’s not allowing or accepting abundance. It brings feelings of guilt, regret and nagging self-doubt. Every moment you spend thinking of the debt you’re in is a moment lost. It certainly does nothing to bring you closer to wealth.

But debt is bad, right?

Yes and no.

But we have to think about it to make plans to get out of it, right?

Yes and no.

Many of us were raised in times when any kind of debt - other than a home mortgage - was considered almost criminal. People “lived within their means” and paid cash. You didn’t buy things on credit unless you were fantastically rich or miserably poor.

Those days are so gone. Just like the days when a single breadwinner at an average day job could provide home, health and happiness to a spouse and 2.5 kids. Like the days when one car could carry the whole family and be counted on to last a good ten or 15 years. Like the days before planned obselesence was factored into every device we purchased.

Sometimes, debt is a necessity. When you’re starting a new business, you might find you have to accept some debt to produce wealth. If you’re investing in real estate, avoiding debt is difficult unless you’ve already amassed your riches.

Not to say that suddenly debt is a good thing. It’s just a real thing. And the only way out of debt is to concentrate your efforts on what you need to create, not what you need to delete. Thinking rich means creating the wealth to effortlessly remove your debt. When you’re making enough to provide for your basic needs, there will automatically be less debt creation. And when you’re bringing in abundance beyond your needs, there will be debt reduction.

So focus your thinking and planning on manifesting wealth. Continue to live richly and wisely. The only time you need to concern yourself about your debt is when it’s time to make your monthly payment. Do it and then forget it. You have more important things to spend your mental and emotional energy on … like thinking rich.

~$~

Here’s what can happen late at night with a calculator, a stream of consciousness and the thought of making (not necessarily manifesting) $3 million in one year …

Would you rather come up with three million $1.00 ideas or three $1,000,000.00 ideas?

Truth: I’m afraid of one million dollar ideas.
Truth: I am not afraid of one dollar ideas.

Why?

I’m afraid of one million dollars ideas because I don’t yet have the knowledge of how to implement them. I can barely conceive what one million dollars equals. I need to learn to visualize it in terms I can understand at this point in my development. I don’t know how much money it would cost to create a one million dollar idea.

I’m not afraid of one dollar ideas because they are plentiful and easy. No real effort or cost needed.

But … there are only 8,760 hours in a year. That’s 525,600 minutes. That means I’d have to repeat the one dollar idea almost six times each minute.

Truth: I am not afraid of one hundred dollar ideas.
Truth: I get a little nervous about one thousand dollar ideas.

One hundred dollar ideas are very doable. I can create a $100 piece of art with materials I already have on hand. I could write an article or some sponsored blog posts on an easily created free blog. I can sell $100 worth of stuff on eBay.

I’m nervous about one thousand dollar ideas because I don’t give my abilities enough credit. This is a product of my scarcity mindset. There are few things I could create that I can justify paying $1,000 for, so it’s hard for me to imagine someone else willing to do so.

But … with 8,760 hours in a year, I’d have to implement 3.5 one hundred dollar ideas each hour to make $3 million. If I overcame my fear of one thousand dollar ideas, I’d only need to implement 3,000 ideas - or one about every three hours.

Truth: Ten thousand dollar ideas spread across the year don’t really frighten me.
Truth: One-hundred thousand dollar ideas spread across the year aren’t so much frightening as just harder to conceive. What do I have to offer that is $100,000 in 12 months?

But … I would need to implement one $10,000 idea every 29 hours to make $3 million. I would only need to implement one $100,000 idea every 292 hours to make $3 million - that’s one about every 12 days.

To break it down: $3,000,000 =

$1 ideas: 3,000,000
$100 ideas: 30,000
$500 ideas: 6,000
$1,000 ideas: 3,000
$2,000 ideas: 1,500
$5,000 ideas: 600
$7,500 ideas: 400
$10,000 ideas: 300
$25,000 ideas: 120
$50,000 ideas: 60
$100,000 ideas: 30
$500,000 ideas: 6
$1,000,000 ideas: 3
$3,000,000 ideas: 1

Clearly, the $3,000,000 idea is the way to go unless you get bored easily. If so, the $500,000 ideas would keep you occupied a bit longer.

~$~