Why Most Business Owners Aren’t Rich

What is the single thing that the pros, the A-listers and the uber-successful people in this industry ALL do, that you probably don’t?

Today I am going to shed some light on this discovery, I will be making a little confession, and for all you UK readers, there will be a unique chance to meet with Barry and I in person.

successful

Over the past two years I have been lucky enough to spend a great deal of time in Masterminds, seminars and private networking events for the 7 and 8 figure earners.

They don’t know it, but during this time I have been studying them, and trying to find out what they do, that I didn’t do, and what most people don’t do.

I noticed a few small patterns, such as:

* They were all very confident in their own abilities
* They tested, and then tested again
* They valued their time very highly

But there was one thing that they all do, and what’s more, they do it on a massive scale and take it very seriously.

Ready?

They invest heavily in their self-education.

Ok, sounds kinda boring right?

But here is the thing… these guys are mega successful, they could all retire tomorrow and never have to work again…

So why bother learning more?

Also, these guys are at the top of their game, in fact, in most cases, there is no other company in their industry that is more successful.

Again, so why bother learning more?

But I realised recently, and in part due to having numerous chats with Barry, who as a self-made millionaire himself, puts self-education as the number one factor in his success… I realised that this focus on improving, and learning more, is what got them there in the first place.

I was more the kind of guy who made the excuses like:

* Most ebooks are probably crap
* If it is so good, why are they telling people about it?
* I prefer to figure stuff out for myself
* etc…

But I can assure you that my attitude has done a 180 degree turn in the past year.

I have bought over 80 books from Amazon alone, and invest over $30,000 per year in my education. That includes books, digital products, travelling all over the world to network with the best, going to events, buying software, being a member of paid sites etc…

Now, could I use that $30,000 and vastly improve my lifestyle instead?

You bet I could!!!

I could go out tomorrow and get a nice new sports car, and it would be great, for 12 months or so…

But I know that the $30,000 is an investment, and unlike a bank account during recession, once you have made a deposit of knowledge in your head, NOBODY can take that away from you.

It is yours for life.

So even if this $30,000 investment earns me just an extra $8,000 per year… if I work another 30 years, that would be an additional $240,000

The reality is that it ALREADY earns me a lot more than $8,000 per year, in fact, it more than pays for itself, and that is not including the new contacts and opportunities I get.

I was lucky enough to see the office of Ryan Deiss in Austin, Texas recently… and what amazed me the most was the amount of products he had there. In fact, there was a special room just to hold them all.

I once quizzed him on it during a meal, and he said: “Dean, even if I buy something that is terrible, at least I will have learnt what NOT to do.”

How different is that way of thinking compared to yours?

So once again, Barry and I are going to be investing in our self-education, video is an area we want to get into, and yes, we could read some forums and spend months cutting through the nonsense, or we could figure it out for ourselves…

OR,

We could fly the Internet’s leading video expert (Perry Lawrence from AskMrVideo.com) from New York to spend a few days with us where he will privately consult with us, ensure we have the right equipment, walk us through making and editing some videos, help us create a studio in our office complex etc…

Which is exactly what we have done.

In fact, we just found out that whilst he is here, he is going to be hosting this video marketing event, so even though we get to spend a few days having one-on-one time with him, we are going to take time out of our weekend and go and see him at that event as well.

And for those of you thinking that we would get free tickets, considering we flew the guy down here in the first place… wrong.  We will be paying full price. (there is a lesson in perceived value here, if you get something for free, you don’t perceive it as valuable)

Anyway, for those of you in the UK, you would be more than welcome to come to this event. We would be happy to meet you for a beer afterwards as well.

Signup here (NOT an affiliate link)

I must stress though, this is not our event, we are not associated with it in any way, and we are not even on affiliate commission to encourage others to come.

If you want to come, then great, makes no difference to us… but, now might be the time to start doing what the pros do, so if you live in or close to the UK, get yourself down to Heathrow on Novemeber 23rd.

Hope to see you there.

Dean

10 comments for this post.

  1. Comment from Jay Adair on November 12th, 2008 :

    Yes! Definitely very important Dean! The difficult thing to achieve though is a balance of work and education. I am swamped with work, finding it hard to delegate, so my learning is suffering. Something has to give :)

  2. Comment from Dean Hunt on November 12th, 2008 :

    Jay,

    Good to hear from you.

    yes, fitting it all in can be tricky… but then again, we all seem to be able to find time to watch X-factor and Lost without any problems.

    BTW, you live nearby, you should pop down and see us, could be really useful for a motorcycle site actually, and would be great to see you in person.

    Dean

  3. Comment from Jay Adair on November 12th, 2008 :

    At Heathrow? Could do, it’s a stone’s throw away, and yes, we’re planning to implement a video service soon for one of the sites.

    We launched a new venture recently, Moto Professional - http://motoprofessional.com - It’s a Pro Photo supply service for the motorsport industry. Video may come to that as well.

  4. Comment from mark on November 13th, 2008 :

    Education through books,seminars and mentoring is important to say the least, but just doing it
    is even more important.

    The amount of crap you’ve learned doesn’t mean squat if you don’t do “Stuff” to make things happen, and have
    fun doing it.

    Mark

  5. Comment from TomL on November 13th, 2008 :

    Very good post.I thought I knew a lot about internet marketing.Recently I joined a private coaching program by Michael Cheney, and now I finally realize what it actually takes to make a living online.So, it pays to learn from those who actually have done it instead of spending years of trial and error.

  6. Comment from Dean Hunt on November 13th, 2008 :

    Mark, yes, taking action on what you learn is a given… but you still need to learn it in the first place, otherwise you are flying blind.

    TomL - Spot on. With enough practice, I could learn to do complex brain surgery by figuring it out on my own through trial and error, but I would kill thousands of people in the process. Ok, extreme example, but the same applies… a wise man once told me that running a business is like walking through a mine-field, and therefore, it is best to walk behind someone else who has croseed it before.

    Dean

  7. Comment from mark on November 14th, 2008 :

    I still think all the education only takes you so far
    and you have to do the rest yourself.

    If you don’t you’re screwed and doomed. And I have to do it myself because I have no successful internet mentor to as Tom says: Walk behind.

    Maybe I’m Stupid, but I’ll continue my self education and doing it.

    Peace,

    Mark

  8. Comment from Dean Hunt on November 14th, 2008 :

    Mark,

    Nobody has disagreed with you, in fact I agree 100%.

    There way I do it is to model myself on people who have been there and done it, learn what I can from them, put my own slant on it where possible, and then put it into ACTION until I have mastered it…

    but the education aspect at the start is still the first step.

    Dean

  9. Comment from David Risley on November 18th, 2008 :

    Great post. While I don’t get anywhere NEAR $30K/year in education costs, I certainly do spend money on it. My wife has gotten irked over it before, but the truth is that these costs come back in the form of higher income. Sometimes the link isn’t perfectly logical, but it always happens that way.

  10. Comment from Brooke on December 2nd, 2008 :

    Ray Kroc said it best with “If you’re not green, you’re not growing.”

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