Money vs Value

I once went to see Kevin O’Leary at a Fireside Chat at Ryerson University’s Ted Rogers School of Management, just to experience him in a more intimate situation. He was as abrasive and blunt as he was on Dragon’s Den. He still said “it was all about the money” and it made me sad. Read what he says about business being war. I hate war and violence and we do not need more of that in our world.

Doing some research, I’m not the only one who thinks he’s a jerk and as huge a business success as his friend Donald Trump – NOT! Check the link to get some background on his business dealings –I was shocked and surprised. Funny how we give people more credit than they are due if they yell louder than us and toot their own horns more than I feel that they deserve.  kevin-oleary-biz-is-war-quotel

O’Leary “is obviously an arch-narcissist,” noted Henry Mintzberg, the Cleghorn professor of management studies at McGill University. “I don’t know how he manages his companies, but his stereotype is dysfunctional.” I agree, this style is so 70s, 80s and no longer relevant nor desired.

Meeting Dave Chilton, the Wealthy Barber, when he was still part of Dragon’s Den, I spoke to him about Kevin and said to him that the poor man needed a hug. Money is a cold object; it doesn’t love you and never will. It will never replace people and relationships. I find it sad if you think that money will bring you happiness. Only living things like people will do that.

What are the regrets of the dying? NOT that they didn’t make enough money but that they didn’t spend enough time with the people who mattered to them.

They regret NOT living a life that mattered to them.

 

 

 

I was watching a video of one high-priced coach talking to another higher priced coach. Did you know that there was network marketing among  a certain style of coaches? Like a $1,000 coach is coached by a $5,000 coach who is coached by the $10,000 coach who is coached by the $25,000 coach….. you see where this is going. It struck me that all they did was talk about the money that THEY made. Hmm, what’s missing here?

To me, being in business has always been about the ethical exchange of value for money as Darren Hardy states in the top photo.

How can you have a sustainable business if you’re screwing someone out of their hard-earned time and money?

How do you get referrals and testimonials and word-of-mouth free advertising and raving fans if you’re taking advantage and using cult-like tactics to sign people up? Do you ever wonder why the rooms are so cold and the days are so long?

Yup, those are cult-like tactics to be aware of. They exhaust you with an overflow of information, non-stop enthusiasm, over the top hype, that makes you think it’s a great idea to sign up for more of this which appears to be of great value.

BUT it’s only of value IF you implement it in your business AND make more money than you spent on learning it.

Before you hire a coach, ask for their client brag sheet. Here you can find my clients’ successes.

Unlike some other coaches, my clients get real results that they love to tell the world about (see my recommendations on LinkedIn).

A business is only sustainable when you offer value for money. You exchange a product or service that someone else sees a value for them – there’s a return on investment that is greater than what they paid. If you are only out for the money YOU can make, then your business has no hope of being sustainable. If your coaching clients are not making more money why being your clients – then why should they refer you to others?

My philosophy of money is similar to Sir Richard Branson. Money gives you freedom. It gives you choices and opportunities. It also lets you support those who need it more than you do. I love that J. K. Rowling just lost her billionaire status because she gave it away. The only thing to do when you have more money than you’ll need in your lifetime and what I plan on doing when I get to that stage of having too much money.

branson-money-gives-you-the-freedom-to-do-with-your-time-what-you-want-to-do-with-it-richard-branson-81-62-44

Do what you love, the money will follow by Marcia Sinetar was a popular book before The Secret arrived on the scene. As I write in my book The Accidental Farmer: Adventures of a Serial Entrepreneur – being a farmer was never in my wildest dreams but IF I can be a farmer, you can be anything you want to be –as long as you know how to sell and market that is.

I was passionate about growing flowers and everything floral, so that make it easier to put in the 10-12 hour days, 7 days a week for months on end. I knew nothing about farming but I learned on the job and grew to love my dozens of animals, thousands of plant babies and clients who returned every year.

Making money – profits – in your business is not a dirty word, nothing to fear nor shun. If you do not run a profitable business, how will you be around to support your clients next year? People want you to make a reasonable amount of money. If you take advantage of your position as the market bully, there will be no loyalty in the future as you’ve seen during times of natural disasters and some stores jacked up their prices. People do not forget that. Nor do they forget the ones who open up their stores and say ‘help yourself’.

Giving value and getting money in return never gets old and always will win out in the long run!

Do you know your value and how to price it right?

If not, let’s talk. I can help you make sure you’re not leaving money on the table and help you close more business faster, easier WITHOUT being pushy nor salesy. 

Patti Pokorchak 416-951-3842    Patti@SmallBizSalesCoach.ca   @SmallBizSalesCo