In today’s post I am going to share some wisdom I learned from Dan Kennedy in his great book “No B.S. Wealth Attraction for Entrepreneurs.
I’m sure you probably already know that I am a HUGE Dan Kennedy fan.
I’ve devoured most of his materials and I credit his training and mentorship to my success in business.
In fact, if you were only going to study ONE person about how to be a successful entrepreneur, in any industry, he would be the guy that I recommend.
Like his other books, this book is fun, easy to read, well written, and loaded with great content.
As you can tell from the title, it’s about WEALTH ATTRACTION for entrepreneurs.
It’s not just about making money.
It’s also about keeping the money that you earn and growing it into a fortune.
In the paragraphs below I am going to share some of my favorite quotes from the book.
Each quote is in bold and italics.
After each quote I will share my own two cents about it.
# 1 The queasiness about price, about who somebody is selling to, about their ability to pay, and about their ability to afford it is deadly. And the truth is, anytime you start to make those decisions for other people, it really reflects more about what’s going on internally with you than it does about anything else.
Don’t pre-judge people.
Let each person you talk to decide what is best for them.
# 2 It is a huge, huge mistake for you to accept any part of the suggestion that money’s tight or hard to get, that your customers don’t have money or won’t spend it.
People have money for the things they want to spend money on.
# 3 I am also absolutely convinced that if you don’t do well financially in America today, it is either due to utter ignorance of opportunity or choice. It is definitely NOT due to lack of opportunity.
There is plenty of opportunity out there in the real world if you go out and seize it.
# 4 You don’t get what you deserve. You get what you negotiate.
You get what you earn!
The more value you bring to the marketplace the more money you make.
# 5 You get what you deliberately and intentionally attract, by who you are but also by what you think, say and do, and get others to do.
This is the law of attraction at its finest.
# 6 Money has no moral conscience.
Money is neither good or bad.
It’s what we do with it that counts.
# 7 If you think that you should be financially rewarded because you are honest, hard-working, and kind to old people and pets, you’re in for a very disappointing life.
To make money, and lots of it, you must PRODUCE results and you must bring value to the marketplace.
# 8 Too often, achievement, accomplishment, and ambition are defined as greed.
There’s nothing wrong with wanting more out of life.
It’s okay to be selfish and worry about your own success.
# 9 Greed is attempting to get something for nothing, to take without exchange.
All deals should be mutually beneficial for both parties so it can be a win-win transaction.
# 10 You have a legal responsibility to pay the minimum taxes required of you.
Study the tax law and deduct everything that you LEGALLY can.
Pay what you owe, but not a penny more.
# 11 If you can arrange your business structure or affairs differently or relocate your business in order to pay less taxes, it is your sworn responsibility to do so.
As a business owner, it’s your responsibility to look out for the stakeholders (you) and do what is best for you.
# 12 The entrepreneur’s responsibility is this: maximum profit and wealth to his shareholders.
I couldn’t say it better myself.
# 13 Every man’s tragedy is somebody else’s opportunity. That’s commerce.
One person’s failure is another person’s opportunity.
# 14 Entrepreneurship is all about opportunism.
You make your own opportunities.
# 15 The incredible commonality among successful entrepreneurs is having been broke or formerly gone through bankruptcy.
# 16 Entrepreneurial success and wealth creation, as well as wealth attraction, require a willingness to risk and experience failure and the emotional resiliency to recover from it quickly, decisively, passionately, and persistently. Hardly anybody gets to success through a straight line.
Success as an entrepreneur is about having a vision, learning as you go, making adjustments as needed and sticking with it.
If you’re scared to fail you will never succeed.
# 17 Every client I’ve ever had who has made a fear-based business decision has later regretted it.
Don’t let your fears get the best of you.
# 18 Few people are attracted to whiners, complainers, excuse-makers, or wimps. Hanging out with a victim is not appealing to most reasonably sane people.
There is no such thing as a successful victim.
Be careful who you hang out with.
You might end up just like them.
# 19 Power is derived from taking responsibility, weakness from disavowing it.
You must take 100% responsibility of your own life if you want to be successful.
# 20 Most people speak lack, poverty, inadequacy, doubt, and fear.
We become what we think about.
Program your mind with positive thoughts if you want success.
# 21 Experienced sales pros know it is infinitely harder to make the sale you desperately feel you must make than the sale that doesn’t matter one way or the other.
When you don’t care whether people buy or join, or not, you will make more sales.
# 22 If you know more about x than your intended clientele, you ARE an expert. It doesn’t take much to be an expert.
You simply need to know more about something than the person you are talking to knows about it.
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# 23 Wealth won’t find you if you are at home slouched on – or hiding under- the couch.
Wealth and making money are often disguised as hard work.
# 24 Just about the only reason for their meteoric success was simply getting into motion, before they were ready.
If you wait for the perfect moment to do something it will never happen.
There is no perfect time to get started.
The time is now.
# 25 If poor people knew how shockingly ordinary millionaires were, there’d be a lot more millionaires.
There isn’t much difference in ability, talent or skill from a broke person and a millionaire.
The major difference is the way they think.
# 26 Everybody has ideas. Everybody has latent talents. Everybody has ability. Few act on them.
An idea is useless if it isn’t acted upon.
# 27 Businesses must be market driven, not personal joy driven.
For a business to be viable and profitable, there must be a legitimate demand in the marketplace.
# 28 Bigger is not necessarily better. More gross may produce less net but also may move you from master to slave before you realize it.
The NET profit is what really matters.
Sometimes, bigger is better, but not always.
There is true beauty in small but profitable.
# 29 Time on a job, years doing a job, does not increase the inherent value of the job being done.
Experience is overrated.
It’s your competence and performance that matters.
# 30 Owning your business for ten years does not entitle you to anything more than your newest competitor of one year. What you get comes from the value you create and deliver.
Just because you’ve been around longer than another business doesn’t make you entitled to anything.
# 31 Income is temporary and perishable. Value and equity can be built to last.
This is probably the most important advice in the entire book.
# 32 If you know marketing, you are in the ultimate power position.
Your product or service is not your business.
It’s your ability to effectively market your product or service that matters most.
# 33 The quicker you align your present behavior with the behavior of people who already have, are achieving, and are experiencing the results you aspire to, the faster you get those results.
Surround yourself with people who have what you want and inspire you to greatness.
# 34 Wealth is not about income.
Wealth is the number of months you can live without working.
# 35 It is not about following the masses.
Look at what the masses do and do the opposite if you want to succeed in life and business.
# 36 All businesses succeed or die on effective marketing systems.
Marketing is the most important activity in any business.
# 37 It’s vitally important to mentally and physically move away from being the doer of the activity of your business as rapidly as possible.
If you are the business, you don’t own a business, you own a job.
# 38 A far more valuable employee is the one who can “sell” our product, not the technician.
It’s easy to find people to do the technical work of a business.
Sales is the most important job in any business.
Without sales there will be no technical work.
# 39 As a business owner, your most highly compensated role is the ability to lead, inspire, and teach others to complete the day-to-day operations of your business.
As an entrepreneur, you must be the visionary and system developer, not the doer doing the technical work.
# 40 It’s the person who can implement systems that can be taught to many and inspire them to high accomplishment who income has unlimited ceiling.
The people who do well in any industry, especially network marketing, are people who can develop systems that anyone can follow.
# 41 Most entrepreneurs operate by the seat of their pants, without well-thought-out, proven, step-by-step systems for every aspect of their businesses. I believe the amount of wealth you are able to accumulate as an entrepreneur is directly linked to how systemized your business is.
Without a system, it isn’t a business.
If everything relies on you it is not a business.
# 42 This trend of wanting “results” without doing anything has become huge.
We live in a society where people want it and they want it now, without having to do the work.
Success does not work that way.
You have to put in the work and fail your way to success.
# 43 Income is NOT an asset. You need to convert income into wealth deliberately and systematically.
An asset is something that provides ongoing income.
As an entrepreneur you do not want to trade hours for dollars.
Instead, you want to build an asset that generates cash flow with or without you.
Otherwise, your business isn’t a business, but a glorified job.
About the Book
“No B.S. Wealth Attraction for Entrepreneurs” was first published in January 2006.
It features 292 pages and was published by Entrepreneur Press.
The ISBN is 978-1932531671.
As of March 2016, the book has 28 reviews on Amazon with an average 4 star rating.
It is available anywhere books are sold.
About Dan Kennedy
Dan Kennedy is quite perhaps the world’s greatest marketer.
He is a self-taught marketer who has personally coached and mentored most of the world’s best marketers.
He is also my # 1 business mentor of all time.
In summary, “No B.S. Wealth Attraction for Entrepreneurs” is a great book.
Overall, I give it 4 of 5 stars and consider it a must read for any network marketer, marketer or entrepreneur.
What are your thoughts?
What is your favorite quote mentioned above?
Leave a comment below to let me know what you think.
I look forward to hearing from you.
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