Masterminds & Mentors

As an owner and entrepreneur, I am constantly trying to juggle the needs of my business against my available resources, such as my time, money and other things I value.  As my business grows, I know that I will be required to “spend” more of my resources to achieve my desired end result. I base the “spending” of my resources on my perceived value of what I am trying to accomplish.  When resources are limited, however, giving up those things I value becomes a real challenge between doing what I know will be most efficient and effective and get me to my goal faster, or taking a short cut in the hopes that what I save will offset any inconveniences that may arise.

 Here is a short story to illustrate my point.  Last weekend my dad and I were taking some valuables to a donation site. One of the items was a 7ft pre-lit Christmas tree that was used for only 1 year. The second-hand store would not take the tree since it was past the season and did not want to hold on to it for a year. Understandable.

 We didn’t want to return the box to the garage before finishing our errands and I laughed as I said to my dad,” how about we carry it around with us during our errands and possibly someone might take it from the back of the trailer.” We both laughed. Returning from our first stop, the box was still in the trailer. Jokingly, we marked “$49 or best offer” on the box and continued on with the errands. Wouldn’t you know it, when we returned to the car from our second stop the box, tree and all was gone.  Just like that!

This is the perfect example of when convenience (the tree was right there in plain sight, easily accessible) meets perceived value (it’s worth at least $49 but we can get it for FREE!)  While this example is in the extreme, (and I certainly don’t condone the idea of stealing, but you get the point), in our world today there is so much offered to us for free.  Free gifts.  Free training.  Thirty day free trials.  Free shipping.  Kids eat free. Free. Free. Free.   All in the name of “try me first, I’m bigger, I’m better, I will meet your needs!”

 There is much offered out there for free. Webinars, tools, etc.  Good tools. Not so good tools. Information galore; good, bad and indifferent.   And, while I too, look for free; I am also cognizant of the proverbial sayings…

 …You get what you pay for

Nothing good in life is free…

…What you put in is what you get out

 What happens if your FREE item isn’t quite what you envisioned or doesn’t  work quite the way you wanted, how invested would you be in spending your time and your energy into make changes or improvements in your item to make it meet your expectations and your needs?

 I would bet that the person that took our Christmas tree felt he was getting a good deal because he felt there was value in what he got and he didn’t have any “skin in the game,” he didn’t have to spend any of his valuable resources to acquire the item.   However, when he plugs the tree in and finds the lights don’t work as expected, he will probably not be spending his time to improve what he has.  He will go and seek another opportunity for another FREE tree.

 The point here is this, while Free is not always bad, it’s not always good either, especially when it comes to business success.  If you are looking to create new and lasting relationships or build something entirely new or create something fresh from something that already exists, you must invest something of personal value and worth, tangible or intangible in the creation.  If you have little invested, you have little to lose, and it’s hard to stay motivated and on task if you can’t be bothered to commit-and risk losing- specifically something you value, in the name of the thing that you want.  This is where “perceived value” and “skin in the game meet.”    

 Morale of the story:  If you rely on FREE and don’t bother to invest something of yourself in what you expect as an outcome, you will likely experience a delay or possibly not achieve your desired end result.

 That being said, ask yourself, “How invested am I in my personal or business success?”  In order to achieve your desired end result, are you willing to invest of yourself and your resources to ensure a profitable outcome or are you willing to take chances on what others have to offer for FREE.  There are no guarantees in life, but there is a much greater potential for that success when you have “skin in the game.”

Footnote:  This Blog Post is the result of a collaborative effort of Coach Gibbs and Coach Sherry.  It proves the quote from Brian Tracy, “Teamwork is so important that it is virtually impossible for you to reach the heights of your capabilities or make the money that you want without being very good at it.”