Three cheers for the prosperity mindset!

Are "profits" and "wealth" falling out of fashion?

Our society is ill because the economy has been rigged to reward those who speculate rather than support those who demonstrate innovation and initiative.

For the individual that comes face-to-face with this harsh reality , the concept of "voluntary simplicity" or "simple living" can seem like a way to take back control of one's life. A concept popular in Europe and Quebec, this downsizing trend is spreading across the US and Canada as a reaction to the overconsumption mania of the last few decades.

The danger that I see in trying to reduce one's life to fit one's means is that it can lead to a trap. Living small or thinking small is not a virtue if it takes away the joy of living, if it makes fear and guilt the driving emotions of life. I prefer another path: instead of reducing consumption in order to live within my means, I choose to increase my means in order that I may live my full potential. Instead of "voluntary simplicity", I choose "voluntary prosperity".

We have a duty to be prosperous: to generate all of the resources necessary to live to our full potential, so we can do good for ourselves, our family, our community, our environment and our planet.

Living a monk's life by shirking our responsibilities is a selfish luxury at this moment. The challenges facing humanity and the planet are far too big and too important to sit cross-legged and contemplate the universe. The intertwined futures of humanity and the planet depend on how we create wealth from now on.

Even one of the inspirations of the simple living movement, Buddhism, celebrates prosperity. According to Buddhist teachings, you are entitled to as much wealth as you want, provided it is created in an ethical manner, "like bees create honey without harming the flowers". The wealth you create must then be reinvested to benefit as much others as oneself. Therefore, proper wealth, resources created the right way, is a tool to do good. (1)

Many of the economic problems we face today come from the fact that people are clinging to their gains as if they were an acquired right. They fear losing their riches, because wealth is finite, and you must grab your share now before there is none left.

Scarcity thinking is at the foundation of classical economics: that homo economicus is driven by the core emotions of greed and fear: less a resource is available, demand then increases because people want to hoard it for fear of missing out, and prices increase. Those who control the production of the resource can then speculate and "earn" their paycheck.

But deep down, is it still true, especially today?

Although we live on a finite planet with limits to our natural resources, this does not necessarily mean that there is a limit to wealth. The economist Paul Zane Pilzer in his book "The Next Millionaires" (2) postulates that each time we face a crisis due to the lack of a natural resource, humanity usually figures a way to solve the problem.

According to Pilzer, it is not resources that determine wealth, but rather the creativity and innovation of the human brain, combined with the initiative to take action, what Pilzer calls our "technology". The fundamental equation of the economy becomes:

Wealth = Resources * Technology

Now that our knowledge and imagination grows at an exponential rate thanks to the explosion of interpersonal communications, our ability to create wealth also accelerates at breakneck speed.

My definition of success is "to create a life experience that allows us to live our full potential." With the voluntary prosperity mindset, wealth is created when deploying our resources, our innovation and our initiative to do good for ourselves, others and the environment so we can all live to our full potential. More we act to create success, more those who are positively affected by these actions are prepared to invest their time, energy and money to live even more success. This becomes a virtuous cycle.

The voluntary prosperity mindset means choosing to engage with others, to communicate, learn, innovate and take action to confront the obstacles that we face and overcome them in a constructive manner.

The voluntary prosperity mindset is to create projects that help our community and our environment to live their full potential.

The voluntary prosperity mindset is having a sense of optimism, aiming for the stars with big ideas and bold plans, but acting with feet on the ground, to generate positive and powerful results by maximizing the resources we have available right now.

Ultimately, the question we must ask ourselves is this: What is our attitude towards material possessions? As an acquired right and a reward that flatters the ego, or as tools to advance our mission, our vision and our values and create a positive difference around us? Our emotions with respect to the resources available to us, will determine our ability to succeed in adopting a voluntary prosperity mindset.

The more we give, the more we put into circulation the ultimate power, that of passion,which creates a win-win benefit for all: an experience of life that allows each one of us to express our full potential.

And this is the true imperative: living to our full potential. This is why it is so important to stop downsizing our lives and start adopting a voluntary prosperity mindset, one that encourages each one of us to take action and create a happy, healthy and wealthy future for all.



__________

(1) "The Buddha's Teachings on Prosperity: At Home, At Work, in the World" by Bhikkhu Rahula Basnagoda and Arthur C. Clarke

(2) "The Next Millionaires" by Paul Zane Pilzer

What is your currency?

Jay Deragon, on his blog "A Relationship Economy", has been exploring the idea of relationships and knowledge as "currency".

Social media is redefining the idea of currency, because of the value we create through our relationships and the sharing of knowledge.

He posts an interesting video discussion with David Bullock (http://www.davidbullock.net)

Posts:

How do you define currency?
http://www.relationship-economy.com/?p=3943

Do Relationships create currency?
http://www.relationship-economy.com/?p=3924

Is Knowledge Currency?
http://www.relationship-economy.com/?p=3941

Hmmm... food for thought here!

A thought about Business and Vision

Here is your thought of the moment:

To create sustainable business success,
instead of 'competitive advantage' where I win, you lose,
think 'mutual advantage', where we both win.
- Coach Davender

The economic turmoil we are experiencing right now, painful as it may be, is a wonderful opportunity to reconstruct the concept of capitalism towards one that focuses on creating real, sustainable value. Business, when we get down to its core, is how we organize ourselves to move humanity forward. I believe business ranks alongside agriculture as two of the most significant civilizing forces in our history.

Unfortunately many have lost sight of what business is about by focusing on short term gain. Looking only at the next step causes one to drift randomly, ending up in a survival cycle.

To break out of the survival cycle requires that we look up, focusing on a vision that is larger than just me-me-me. In a sustainable model of business, profit is generated by an exchange of something of value that helps you succeed in a way that helps me succeed. Prosperity then becomes proportional to the size of the vision, its positive impact on the world, and our success in making the vision come alive.

To make a sustainable model of business work, we need to make quantum shifts in our thinking:

- shift from "business models" to "transformative vision" ...how does this vision make the world a better place?
- shift from "markets" to "communities" ...how do I engage people in a great conversation about the vision?
- shift from "sales" to "leadership" ...how do I encourage people to take action to make this vision come alive?

This need not be simply wishful thinking or dreaming. The resources of the world may be finite, but our capacity for imagination, innovation and ingenuity is infinite. Our brain power can multiply our resources many times over, if we focus on creating sustainable, win-win value.

The world needs people like you and I who aim for the stars with our feet on the ground. How will you create "mutual advantage" today?



This thought is inspired by an article on the Harvard Business Blog
by Umair Haque, "Why Ideals Are The New Business Models"
http://blogs.harvardbusiness.org/haque/2009/03/ideals.html

This article is from my newsletter archived at http://www.davender.com/newsletter/20090316.htm

Sign up to receive my newsletter
and get a FREE 6-Part e-course on how to Get More and Better Clients:
http://www.getmoreandbetterclients.com

Ten Attitudes To Adopt To Prosper In Difficult Times

I've been following Scott Anthony who blogs on HarvardBusiness.org, and he calls the period we are now living "The Great Disruption". I like this term, because this period of economic difficulty is more than a slowdown, a recession or a depression: it is a complete collapse of all of the ideas we have taken for granted about how we live, trade and prosper.

To succeed as a solopreneur in this chaotic age requires more than hard work, it requires new attitudes, new ways of thinking. Here are ten attitudes to adopt in order to prosper in these uncertain times.

1. Declare Your Independence

Set up your life and lifestyle so as not to be dependent on any one person, client, revenue source or situation. Focus on minimizing your debts, so that you are not a slave to the bank or credit card. Diversify your income sources so that you are not a slave to any one client or job. Clean up what you are tolerating so that it no longer holds you back. Simplify your life so that you are not a slave to the whims of others. Declaring your independence means making hard decisions and taking action so that your independence is meaningful and practical.

2. Ignore Conventional Wisdom: It's All Wrong Anyway

A major cause of the current turmoil is that people thought they had it all figured out, that by following the “conventional wisdom” they could beat the odds. In reality, if you do what everyone else does, you will get the results that everyone else gets. What's so cool about today's situation is that you now have the freedom to act differently, because there are no charts for where we are heading. Those who succeed in this transition time are those who are willing to risk it all to invent a new future.

3. Cozy Up to Chaos

The more you try to hold on to the secure and the familiar, the harder it is to hold on to, because the secure and the familiar is disappearing. The rate of change continues to accelerate. Events halfway around the globe can impact you right here. Accepting that chaos is the new normal, that you cannot predict what will happen around you tomorrow, and set up your plans to adapt quickly to new situations.

4. Get Digital

If you're not online, you'll be in the bankruptcy line. The Great Conversation is happening right on the Web. Get your website up, start your blog, create a professional Facebook presence, get on Twitter, join the discussion! Connect with authors, leaders, role models and peers who you respect and who inspire you. By plugging in to the global meeting of minds, you will get great ideas and join forces with other forward-thinkers and doers who also want to succeed.

5. Express Your Personal Brand

Your personal brand is not just a slogan, it is a message that inspires people to improve their own lives. Stand for something that people value, and use it to stand out from the crowd of "me-toos". People are looking for leaders, for new ideas, and are attracted to people who take action.

6. Be The Center Of Your Own Network

Your network determines your net worth. Build a strong network of personal contacts who know who you are, what you stand for and where you are heading. Invest in your network by helping them succeed also. Find out what are their dreams and goals, what they offer and what they want, and invest the time, effort and money to help them.

7. Be Selfish: Take Care of Number One

If you are not feeling great, physically, mentally, emotionally and spiritually, it is very difficult to create the results you want. Hold yourself up to high standards in your fitness, your surroundings and in the relationships that you have. Make “being healthy” part of your job description. The healthier you are, the more you can help others.

8. If You Want More, Give More

The natural response when times are tough is to cut back, retrench, think and act small. By doing the opposite, by being generous, open, helpful, charitable, and supportive, you will attract attention and gratitude. You become more valuable to the people around you, and you will be rewarded with clients who value what you offer and who are ready to reciprocate.

9. Know Thyself

Prospering in the Great Disruption means that you need to have a strong internal guidance system: to understand who you are, what is the impact you want to create around you, and what drives you to action. Plunge into personal discovery and development and be willing to ask yourself the hard questions. The stronger your internal compass, the better your ability to navigate through uncertainty and difficult times.

10. Live Your Passion

Make sure you are doing what you love, and do it first because you love doing it. Life is too short to spend it doing The more passionate you are about the positive change you wish to create around you, the more you will attract clients who value who you are and what you offer, and who are willing to commit their time, energy and money to you... no matter what condition the "economy" is in.

The reality is that this is a great time to focus on becoming stronger, smarter and more successful. The momentum you create now will give you a strong foundation to build success, no matter what happens in the future.

Focus on your Higher Purpose, and you will succeed in accelerating your Vision from Passion to Profit, no matter the economic conditions!

Article: How To Barter Your Services Profitably

When starting out as a self-employed service provider, especially in a difficult economy, you are often faced with clients who need your services, want to hire you, but are unable to pay you in cash. In your eagerness to start doing what you really love to do, the temptation to lower your price or give your service away is irresistible - and dangerous.

The danger of giving away your service is that it tends to devalue what you offer in the mind of the receiver. As an alternative, consider non-money transactions such as barter (exchange of goods and services in kind) or pro-bono (as a gift, freely offered).

The advantage of creating a barter or pro-bono arrangement is that you can gain experience right away. Creating momentum around your business is very important, so the more clients you have, the better. The biggest disadvantage is that a barter or pro-bono arrangement can be a trap, because it is very difficult to grow a successful livelihood based only on barter or pro-bono, because there is no positive cash flow. And isn't that why you're in business anyways, to make a living doing what you love?

It is possible to create barter arrangements that work for you and for your client, if you are prudent and clear about what you want. Successful solopreneurs know that they deserve to be well compensated for the results they create for their clients. Here are ten tips to create and maintain a successful barter or pro-bono arrangement that results in a win-win outcome for both you and your client.

1. Barter is a commercial transaction where you accept goods or services in lieu of money.

This is the Golden Rule of successful barter. Barter is a commercial transaction, with all of the privileges and responsibilities attached to it. You simply accept that the client provide you with goods and services instead of cash. You are the supplier, you set a price for your offerings, and the client proposes to compensate you with goods or services of equal value to the cash price you set. You have the final say as to whether what is offered in barter is agreeable to you. You do not have to accept barter or pro-bono.

2. Be choosy, reserve barter or pro-bono for special cases or as a last resort.

For many people, spending money for an intangible result is the hardest act they can do. Make sure that your clients are not offering barter simply because they are not really ready to commit to results, or because they are trying to take advantage of you. If a client is not able or willing to pay money, it is a strong signal that they are not ready to make a real commitment to you, even though they might really need your help. There should be a very compelling reason for you to work with them for barter or pro-bono: a unique situation where you can gain a lot of experience (far more than usual), because working with this client would give you prestige, or because you can build your business on the references that this particular barter work would give you.

3. The client should offer in barter something that you really need.

Does the barter offer replace something or some service that you already use, saving you time, effort and money? If you regularly pay for massage therapy, and a prospective client offers massage therapy in barter for your services, then it is real barter, since you can redirect your money and see real savings. But if you don't ordinarily go to massage therapy, then basically you are giving away your services for nothing (is that how much you value your services?). The most effective barter arrangements provide you with the goods and services that you need, in a way that works for you, first, and the client, second. If what you need is not what the client offers in the normal course of the client's business, then it is up to the client to go out of their way to provide you with something that you really need (see point #4).

4. What the client offers in barter must represent a substantial commitment on their part.

The client should offer something that requires additional time and effort to create specially for you - it must represent a substantial commitment on their part. If your client makes pies and offers you free pie for your services, this is not a substantial commitment on their part, because they will not be as invested in creating results as you are. The barter must represent for them a visible, conscious commitment, but not extreme hardship. When they are providing you with the goods or services, the barter client must be mindful of the real purpose of the barter. Use your judgment. After all, you are giving up time, money and effort, and you are doing them a favor by accepting barter.

5. Keep the barter/pro-bono relationship business-like.

A big pitfall of pro-bono or barter arrangements is that the commercial nature of the transaction tends to get blurred, and emotions become involved. Create a written, signed contract and issue an invoice for the full amount. Have your barter client do the same. The two invoices should cancel out. Then exchange signed, cashable checks made out to each other on the same date (the date of payment). Issue receipts for the transaction, then cash the checks at the same time. Declare the value of barter transaction as income (for what your barter partner paid you) and expense (for what you paid your barter partner). Pay all applicable fees and taxes, this will keep the taxman happy and encourage you to evolve the relationship to a cash basis as soon as possible. You will perceive yourself to have a real business, not a hobby, and your business will grow much faster. Your client will be reminded of the nature of the barter. It will also be easier for you to maintain the professional-client relationship.

6. Measure your effort in the relationship proportionately to the value of the exchange to the client.

What the client offers in barter has value to the client, but not necessarily to you. Your time and energy is limited and valuable to you, but not necessarily to your client. You have to measure the real value of the barter goods in the client's mind, something that the client would not normally think of. Don't make the error of counting the retail value of the barter goods. A fairer assessment would be to consider the wholesale or bulk value of the goods. Make sure you don't give more effort to the client than what they pay for. This does not respect the value you place on yourself, and it cheapens what you have to offer. It then becomes a lose-lose situation that can end in resentment or hurt feelings.

7. At the beginning of the relationship, set a time limit or conditions to the barter or pro-bono.

You are in business to create a livelihood for yourself, so sooner or later you need to convert the barter relationship to cash. At the beginning of the relationship, in the written contract, specify a time limit to the barter relationship (guideline: no more than 60 days), and specific results that must be attained to maintain the barter relationship. Make sure that the conditions lock the client to the results and the time period, considering even a cash penalty payable to you if the client terminates the deal early (remember, you want to make sure the client is fully committed to working with you). Make timelines short and results tangible and measurable. The client has to see the real worth of what you can provide. Finally, the barter agreement should allow you (and only you) to terminate the relationship at anytime or to ask for cash instead of barter at any stage of the transaction.

8. Make it clear paying clients come first, and barter/pro-bono clients second.

You are offering your livelihood to create results for your client. Other clients who are ready to pay money deserve higher priority and attention. You are doing the client a favor by accepting barter, and this arrangement should not limit the growth of your business in any way. Barter clients get the privilege of your surplus time or resources that are not otherwise committed to your paying clients or to yourself. Don't overextend yourself for your barter clients. Actually, this tip should read: yourself first, paying clients second, and barter/pro-bono clients get what's left.

9. Keep control of the situation.

Barter clients are not regular clients. Barter is NOT a two way street: the client is offering goods or services in kind for your services, instead of paying by cash. You do not become a customer of the client because you accept barter. Failing to remember this cheapens the relationship and works against you. Make sure the barter does not get out of hand: you deserve to be well-paid for the results that you create. This is a favor you extend to the barter client. As soon as you see that the barter client is not as committed to the relationship as he/she was at the beginning, you should seriously consider ending the relationship.

10. Create low-cost opportunities for participation for clients who do not have enough cash to pay your full rate.

Create options that can help lots of people at once, in ways that don't require as much investment of your time, money and energy. Options such as teleclasses, free introductory workshops, group coaching, newsletters, etc can still help people who don't have, or are not ready to commit, money for your most valuable services. Clients who spend time in your group activities also become longer term and more valuable customers, since they will get to know you and understand how you operate and what you have to offer. Reserve your most valuable time and energy for clients who are willing to fully commit their time, money and effort to have you help them create powerful results in their lives. Creating a "tiered" structure of offerings will ensure that the right people will come to you at the right time, ready to pay you what you deserve for a successful livelihood. And if this does not satisfy the client, say no and look elsewhere. There are always people who value what you offer and who are ready to pay you the rate you deserve!

Davender Gupta is a business leadership coach and Certified "Book Yourself Solid" Coach whose mission is to guide passion-driven solopreneurs, professionals and people with Big Ideas to accelerate their Vision from Passion to Profit. Join the discussion on his blog frompassiontoprofit.com and his main site coachdavender.com He welcomes your questions by e-mail at coach@davender.com or by phone, toll-free, at 1-888-788-8844.

As posted on EZineArticles.com: http://ezinearticles.com/?id=1747213

Article: Your Two-Page Business Plan - Cut the Fluff, Get to the Good Stuff

One of the biggest advantages of being a solo-professional in the hyper-dynamic marketplace is the ability to quickly make decisions that adapt to changing conditions.

The value of your business plan is not its weight in paper, but rather in the clarity of the thinking at its core. Too many solo-professionals get stalled by their business plan, because they get caught up in details that are eventually inconsequential to their desired result or overtaken by events in the real world.

To make good decisions in a quickly changing environment, a clear strategy, based on simple principles, provides better guidance than a plan that is thick, detailed and difficult to adjust. By cutting out the fluff and focusing on six core questions, you can create a concise, dynamic template that will clarify the core of your success strategy for yourself and your colleagues.

The purpose of a clear, concise two-page business plan for solo-professionals, is to demonstrate that:

1. that your business project can make money,

2. that you can attract and serve clients who value what you have to offer and who can commit to you, and

3. that you are clear about what the resources you need and the actions to take.

When you can make your case using brief, precise statements, then you will be able to transform your passion into profit.

Set aside your old business plan brick and answer each of the following questions in a couple of sentences:

1. What is the key, compelling result you create for your client?

People don't buy your product or service, they invest in the results that your product or service provides for them. Describe your business in terms of the impact you make on your customer, how their life is changed for the better. Aim for the impact with the greatest value. Keep it simple, go for the WOW. In reading your statement, the response should be "this is something I gladly would spend my own energy, time and money for!"

Bonus points if you can state your compelling result in ONE sentence, 10 words or less.

2. How do you generate profit?

A successful business must have, at its core, a profit engine, where you input your products and services and the client inputs their investment of time, money and attention, and both of you benefit. What is your "value proposition"? A strong value proposition is a tight, focused mechanism that involves an offer, a customer, a consideration (money, time, effort commitment), to create the compelling result. How is this effect created? How do customers invest in it? Where do you generate your income, and your profit?

What is the reason why customers care that you exist? What is your long-term value proposition that will keep customers coming back again and again? Or that will create a permanent, powerful and positive change in the client's situation?

Is your value proposition scalable (i.e. can you quickly grow the number of customers without adding appreciably to costs)? Are there multiple points where customers can interface with you?

Note that your value proposition must focus on something other than reducing a customer's costs or saving money, because this is only a temporary advantage.

The simpler your value proposition, the simpler your profit engine, the sooner you can generate revenue, and the more successful you will be.

3. What can get in your way?

You can bet that at least five other people in the world are working on the same idea as you. How will you anticipate the obstacles that can slow you down:

- who has a business who can make the need for your product or service evaporate?

- where can you be blocked or sideswiped (technology, legislation, economy, environment)

- by what alternative ways can customers can achieve similar results?

In a couple of sentences each, identify the primary traps and how you can overcome them. Be brief and to the point.

4. What is your secret sauce?

What makes you THE go-to person for what you have to offer? What are the most compelling features that make you stand out from everyone else? How are your advantages something that make it difficult or impossible for someone to copy? Think long and hard about your answer to this question, because the more special your "secret sauce", the stronger your business will be.

5. Who is involved with you to make this happen?

Your partnering strategy can make or break your execution. Partners can give you the weight and leverage you need to make a big impact fast. What kind of partners and team do you need to make this happen? How quickly can you spool up your idea? How much are you going to do in house, and how much outsourcing? Who is in charge of what?

6. What is your next step to build your business, and what do you need to make it happen?

Be very specific about the next step you are taking, and what resources you need to make it happen. Have specific 90-day, 6-month, 12-month and 36-month goals.

Remember: keep each response short and powerful. Cut out the fluff and get to the good stuff. Your answers to these six questions should fit on the front and back of one standard letter-sized sheet at 10 to 12 point font. Bonus points if you only need one side.

The more concise and precise your answers to these six questions, the more successful and profitable your business project will be!

Davender Gupta is a business leadership coach and Certified "Book Yourself Solid" Coach whose mission is to guide passion-driven solopreneurs and beginning network marketers to accelerate their Vision from Passion to Profit. Join the discussion on his blog frompassiontoprofit.com and his main site coachdavender.com He welcomes your questions by e-mail at coach@davender.com or by phone, toll-free, at 1-888-788-8844.

Posted on EzineArticles.com: http://ezinearticles.com/?id=1694982

Revolutionize Your Pricing!

What would happen if you double or tripled your rates, today? Is it suicidal... or smart? Come join the discussion on ThinkBigRevolution here: http://is.gd/9cB1

Ten Reasons Why Now is the Best Time to Be a Solopreneur

We are living in revolutionary times. The massive dislocation of the white-collar corporate workforce, triggered by the collapse of mega-corporations, has let loose millions of well-qualified professionals who have realized that there is more to life than working in a large organization. Whether by circumstance or by choice, many talented and motivated professionals recognize that they are better off building their own business rather than wait for someone to rescue them. This wave is fuelling the a boom in entrepreneurial startups.

Although many new businesses are started with the intent to grow the company, hire employees and create equity in the organization, there is another choice available to those who prefer the concept of creating a business where they are the sole owner, shareholder, employee and beneficiary of the equity that is generated.

The objective of these "Solopreneurs" in growing their business is not to hire employees, but rather to expand their passions, talents and abilities to a point where they can create a prosperous livelihood simply doing what they love to do.

Here are ten reasons why now is the best time ever to be a Solopreneur:

1. Most organizational jobs are too small for our passion.

The function of most job descriptions is to limit the scope of action of people and to put some order into what can naturally be a chaotic situation. From a control point of view, this makes sense. But what happens is that it limits people's freedom to learn, grow, and experiment with their talents and passions. In the end, people feel that their jobs are limiting, and they see their only "out" is promotion, find a new job, or to shut down their own sense of aliveness (which I have witnessed too many times). The autonomous Solopreneur can create a business that is as big as they want.

2. In the end, you are responsible for your own future.

The illusion that being employed equals security does not stand up to scrutiny. There is no such thing as lifelong employment any more. True security comes from taking control of one's own life. The Solopreneur has complete control over the direction that their business takes, and eventually develops skills and self-knowledge that become the ultimate insurance for the future.

3. There must be more to life than making a living.

We want to see that what we do makes a difference in the world, and leaves a legacy. My own engineering career is documented by dozens of reports, proposals, concept papers that were works of art but basically just sit on a shelf or were tossed in the recycling bin years ago. Nothing lasting ever came out of it...even projects that were essential at the time have since been abandoned or rendered obsolete. If the purpose of living is to be "productive", then, from a certain point of view, life can be quite meaningless. But if the purpose of living is to express who we are, then life takes on a whole new angle (which leads to the next point).

4. We all have a yearning to excel at something.

We each have passions, talents and abilities, and this mix is unique to who we are. Corporate jobs don't recognize this, since corporations are organized on the assumption that "process is king" and people are interchangeable. The passion to excel, to stand out in some way, is essential for us to experience success in life. The successful Solopreneur, being autonomous, strives to stand out in the area which he/she has the most passion.

5. Life spans are longer: the cycle of school - work - retirement has lost its meaning

Back in the 1850s, when the basic structures of economics were invented, life spans were short and work was physically hard. It was necessary to put boys and girls to work as soon as possible so that they could be as productive as possible. Very few people lived until age 60. In the last 30 years, life spans have dramatically lengthened so that most of us, at age 60, are still very productive. Yet we are still focusing our lives on planning for our retirement, when we still have 20, 30 (and maybe more) quality years left in our lives. This doesn't make sense to rush into jobs, making every minute as productive as possible. Our longer life spans mean that we can afford to take time out to learn, rest, refresh and experiment with new ideas.

6. The cost of the tools to be a company of one has diminished to basically nothing

It used to be that you needed to work within a company to have to tools to do your job. Now, the cost of the tools needed to be effective in self-employment has drastically come down. Long distance calls have become basically free. The Internet makes access to global information basically cost-free. A home office can be well-equipped for under $2000 with all the latest tools. Solopreneurs can easily assemble a better toolkit for their own business than if they were doing a similar job in a corporation.

7. The era of the megacorp is over

The biggest problem with the mega-mergers is that their focus on serving large customers means that the individual or small customers are overlooked or ignored. With the massive downsizing of the workforce, the economy is gradually being restructured in such a way that the small entrepreneur and Solopreneur actually has a greater economic clout than government and corporate policies allow for. A personal prediction of mine is that the next economic downturn will have a major impact on large corporations, but the entrepreneur economy will survive quite well because we are now large enough that we can trade with each other...

8. Life is moving fast because there are more people, more opportunities, more ideas

This is very obvious, as illustrated by the pace of technology. Organizations have a lot of inertia, and cannot move very fast to take advantage of opportunities. Solopreneurs live for instant opportunity!

9. Networks of peers are more efficient than a structured team organization

Networks of Solopreneurs can quickly organize to take advantage of instant opportunities in ways that structured organizations can't (as illustrated by the growing demand for consultants and contract employees within corporations). The biggest advantage of networks of Solopreneurs is that they can quickly organize to ignite new ideas and new projects. Peer networks are proactive, structured teams tend to be reactive.

10. The spiritual revival

The wave of awareness that I see growing on a weekly basis is fuelled by the realization that there is more to life than work and money. People want to feel grounded in something bigger than they are. The life of the successful Solopreneur is very spiritual, because of the level of awareness in oneself that is required to stay focused and motivated.

Ignore the prophets of doom, for they only speak of the death of the mega-corporation. Now is the best time ever to embark on the adventure of becoming a Solopreneur. In the 21st Century Economy, small is beautiful, small is smart, small is the new big!

Davender Gupta is a business leadership coach and Certified "Book Yourself Solid" Coach whose mission is to guide passion-driven solopreneurs and beginning network marketers to accelerate their Vision from Passion to Profit. Join the discussion on his blog frompassiontoprofit.com and his main site coachdavender.com

He welcomes your questions by e-mail at coach@davender.com or by phone, toll-free, at 1-888-788-8844.

Posted on EzineArticles.com at http://ezinearticles.com/?id=1672352

The nature of profit

I'm worried that in all of this discussion about the "Big Bailout", the concept and the merits of "profit" get lost.

The problem right now, as I see it, is that we have forgotten what profit means... Profit is not extortion, it is not injust, it is not unfair, it is not evil.

Profit, as I define it, is the value that I add to an exchange, a value that expresses the positive impact that this exchange represents for the client.

In calculus, a branch of mathematics that is the language of physics, each number has a "real" and "imaginary" term. The real term is what we can touch and count, and the imaginary term represents potential. As numbers are manipulated and combined through the equations of physics, the imaginary terms join to become real, and sometime real terms become imaginary. Electricity, magnetism, gravity, quantum mechanics, all these are physical phenomena that can be represented through the calculus of real and imaginary numbers. (for a deeper explanation, see here)

I believe that business is a similar transformational process. As I input or invest the real resources of time, money and effort into my business, I also invest the imaginary, intangible resources of passion, mission, intention, values and trust.

Profit, the value that I add to the exchange, is also represented by "real", tangible, and "imaginary"-intangible terms. The real terms are representable in accounting language: return on investment, increased cash flow, savings and so on. But these real results have to also be balanced through the intangible benefits: how has this transaction helped my client fulfill their potential just a little bit better? To improve the quality of their life? To advance community, nation, humanity, the environment, the planet?

Any business transaction has to generate a value added that is win-win, in the short term as in the long, in the tangible as in the intangible, in the local as in the planet, to you as to me.

When I sacrifice the intangible profit of doing good over the long term just to temporarily increase my tangible dollar results in the short term, the core reason for being of the business starts to rot, and you get the empty shells of the major institutions and corporations that you see today.

Business is about creating a bridge of trust between two people in order to exchange resources of value in order to mutually improve each other's lives. Business is personal, it is is a sacred responsibility. Focus on creating tangible and intangible value that expresses who you truly are, and you will build something that will make a lasting impact on the world.

Irrational commitment

"You can do anything if you have enthusiasm. Enthusiasm is the yeast that makes your hopes rise to the stars. Enthusiasm is the sparkle in your eye. It is the swing of your gait, the grip of your hand, the irresistible surge of your will and your energy to execute your ideas. Enthusiasts are fighters. They have fortitude. They have staying qualities. Enthusiasm is at the bottom of all progress. With it, there is accomplishment. Without it, there are only alibis."
-- Henry Ford

A recent post on my favorite marketing blog by Seth Godin talks about "Irrational commitment".

In this difficult economic period, as storm clouds gather and threaten to discourage people from following their dreams, it is time to be irrational and go against the conventional wisdom. Like the old business maxim "Buy low, sell high" - now, when the business cycle is slowing down, is the best time to launch your vision. In the next 12 to 24 months, you can test ideas, build your systems, create a strong foundation and be ready for the next upswing that will definitely happen.

Make an "irrational commitment" to success - a commitment based on passion and enthusiasm, and it will power you to create the future that you really want...

Instead of filling a need, fulfill a desire

It's in all the Business 101 texts: to be successful in business, all you need to do is to find an urgent need and satisfy it.

That may seem logical, however the story continues from there. Because if all I'm doing is satisfying a "need", then what happens is that I'm engaged in a race to the bottom, a direction that leads to disaster.

Say you're very hungry and you're offered the choice of a Big Mac right away, or a freshly prepared, balanced and nutritious meal two hours from now, what do you think you'll choose? Many (most?) people choose the Big Mac, but why?

It goes back to the basic Maslow's hierarchy of needs: when physiological needs like food, shelter, sex are lacking, this creates stress. And people want to relieve that stress quickly, cheaply, with the least effort and investment.

So if I aim my product or service at meeting a need, then all I am doing is relieving stress, and I have to compete with other ways of relieving the stress that are cheap and quick. No wonder MickyD's business is booming, it's not about the taste or the quality, it's about that quick hit.

If I focus on the values at the top of Maslow's need pyramid, around self-actualization, then I attract people who are motivated to seek more. A person seeking self-actualization appreciates the experience of the home-cooked, balanced, nutritious meal: they want a fuller experience of taste, they recognize the long-term benefit of nutrition, they appreciate the time and care that goes into preparing the food.

By directing my offer to fulfiling desires, it may take longer to build my business, but it will be stronger and last longer, because then I can build in other values like loyalty, trust, even love...

Focus on filling needs, and you become a commodity, where you are judged on price alone, with the winner being the lowest cost option. If you choose this direction, take your money and run, because it is very difficult to create a lasting business because you will always be fighting against slim margins to eke out a profit.

Shift to fulfilling desires, and you attract those who want more and who are willing to commit (invest) more time, energy, patience and money in what you offer. You will have fewer clients, but they pay better and are much more fun to be with.

So if you're tired of being a slave to your customers, it is time to turn conventional biz wisdom on its head. Focus on igniting and fulfilling a compelling desire, and you will work less, make more and have much more fun with people who value who you are and what you offer.

A thought about effort

A quote I included in a response to a client today:

"Opportunity is missed by most people because it is dressed in overalls and looks like work."
--Thomas A. Edison

Separate pain from pleasure

Last week I read a post on Seth Godin's blog titled "Bait and switch", about the importance of separating any painful parts of the buying process from the pleasurable parts.

I smiled and filed it away for future reference, when just a couple of days later this very issue came back to bite me in the gluteus maximus.

I lead a great Leadership Weekend event last weekend for a local network marketing company. It was a lot of fun, but I was somewhat apprehensive before the event, not really knowing the people that would be there. I usually have at least a short personal conversation with each participant before hand, this time it did not take place because it was a team leader that convened the group of 11 participants at very short notice (one week). Oh well, trust in the process, I told myself!

The short timeline between the offer and the delivery made me decide to allow registration on site just before starting the event. I thought it would simplify the payment process by reducing the before-event paperwork. I sent out registration forms with the amount clearly indicated, and a pre-event welcome e-mail to those e-mail addresses I received before the event. Each person was to bring their registration form and payment to me during the check-in (30 minutes before the event).

The team leader verbally asked me about two participants who wanted a further discount, and two couples who wanted to attend each by paying only one registration per business centre. Wanting to be nice, and not really thinking it through, I sort of waved, smiled and said uh-huh (an unconscious yes) and quickly forgot about it. Unfortunately I had no complete list of names nor a list of who was paying how much and how, so I had no idea of who I said yes to.

My program requires a significant investment of time and money, and I could feel the tension of each person as they checked-in. On one hand they were not sure what they were getting into (my courses are not like regular network marketing training sessions).

As I counted the registrations coming in, I was realizing that I was receiving about 20% less income than expected, my tension level started to rise (not a good thing minutes before starting an intensive coaching weekend!)...

Then two people showed up with the form amounts crossed out and lower amounts written in. I thought it was an error, so I asked that they fill out a new form with the requested amounts. One person did so without comment, the other hummed and hawed and insisted that she pay the discounted amount. I wanted to coach her on the importance of commitment, but time was ticking and my tension put me in a bad place to ask coachly questions, so I accepted her offer.

There were less than 10 minutes before the scheduled start. The 20% less income, plus another third of the payments were post-dated cheques, that I do not usually accept in these types of short-term programs, made so that I ended up with about 1/2 of the amount in-hand that I expected. I was letting this monkey-mind thinking momentarily put me in a regret-resent cycle. I had to ground myself to let this go, and fast!

I did that, and the rest of the weekend was powerful and successful for all.

Afterwards, I heard through the team leader that the two people who had asked for additional discounts still had some bitterness towards me - which brought up that resentment in me again! So to counteract it I moved into action and ended up setting a meeting with the team leader and the president of the company, and then more time with the two people to make sure everyone was satisfied.

Hmm. It's too bad that this experience tarnished an otherwise great experience. Now I understand what Seth was saying about separating the "pain" of paying and paperwork from the "pleasure" of the experience they signed up for.

Lessons learned for those of us who provide services, especially coaches or speakers or trainers:

1. Make the fee clear up-front, on paper. Have any special discounts or payment plan agreed clearly by both parties, with your signature or initials on the order form.

2. Avoid middle-men negotiating a fee on your behalf. When the team leader came to me with requests for further reductions off the already reduced fee that I agreed to, I should have taken the names of each person and spoke directly with them.

3. Separate "pain from pleasure": Make sure the payment process is complete before the people wake up the day of the event. I used to be really strong on this but have allowed myself to erode my discipline in this area. I think that charging a premium for same-day registration is warranted, because of the additional paperwork.

4. Make sure each participant in a coaching or training program is qualified to be there! Although I made sure each person got great value, I was not clear on the competence level of each person before the event and made some assumptions in my approach that I had to change on the spot. I could see that some people were somewhat out of their element. The main issues around the event fee were with people who were not really properly qualified to be there in the first place (i.e. if people are fussy about your fee, they are not ready for you!)

5. When you have a system, use it! Normally, like I said, I have a pre-event interview or at least a participant information form that I get my public clients to complete before the event starts, so I can ensure they are at the right place to fully benefit. I allowed the time pressure to make me short-circuit my process for this closed group, and am now paying the real price in time, money and trust.

It's too bad that a couple of relatively minor issues stained what was otherwise a powerfully positive experience for all. It cost me time and trust to repair the fences with the team leader, the individual participants, and the president of the network marketing company.

Lessons learned, and to be incorporated as I update my systems, policies and forms!

A little game to get back on track after your holiday

One of the biggest problems that solos have when coming back from vacation is that the phone ain't ringing and the bills are piling up!

Here's a quick little game to get things moving again.

Take a piece of paper, and make a little list... of ten people that you can call right away (or when you get back from vacation).

These can be past clients, networking colleagues, or even all those business cards you collected last spring and that are still not filed!

The object of the game is to find at least four people on this list who are willing to meet with you over coffee (ice cappucino?) or lunch in the next five working days, for a little "discovery" session.

Share with your coffee partner your goals for the new season, and what kind of clients you like to work with. Encourage your partner to do the same. Do a little brainstorming, aim to come up with at least one referral name for the other person and for you, then do the same with the name you get referred to you.

This will start to stir things up around you, and I'm convinced that before you know it, that phone will start ringing again!

That is, if you make that list right now... Do it! I'm convinced this little game will pay off big for you!

Now that you've made your list, and your calls, you've won! Go out and enjoy the rest of the day!

Put some gas in the tank (i.e. go get clients!)

This came to me in a discussion this morning:

"A business without clients is like a car without gas... pretty to look at but doesn't get you far."
- Coach Davender

First date, then marry (not the other way around)

Yesterday, an enthusastic client came to me, all bubbly about a new service offer she's putting together with another participant in my coaching program.

She was telling me about how they are going to link their websites together, put together a pamphlet to describe their new service, and asking me my opinion about their new name...

Then I asked her: "Do you have a client yet?"

That stopped her cold.

I learned the hard way this year about how to do (and how not to do) a strategic alliance. Back in November 2007, I was wondering how to promote my new coaching program "From Passion to Profit", a 12-week intensive to help solos move from being poor to being profitable. And I was also very enthusiastic about finding clients but somewhat overwhelmed faced with that task.

At the time, I had met a forward thinking entrepreneur who was promoting a new web-based network marketing system, and who was looking for content. Being experienced at content creation, we quickly decided to combine forces where I would provide workshops and content for their system, and I would promote their system through my network. I believed that they had a farther geographical reach with my list than I had with mine, so it would give me a bigger platform to promote my program too. A win-win!

After launching the alliance to great fanfare we quickly realized that it was just not working out. Few people showed up to our joint events, I was getting more clients through other means, and the focus of their marketing efforts was also shifting to what was more profitable for them. On their side, as on mine, our hearts were just not in it. Luckily we both realized it and we quietly abandoned the joint project.

What I learned from that experience is to make sure we are first generating the interest and the sales, then look at how a public joint alliance can improve the relationship.

I recently met a coach/therapist that helps people get past their fears through a powerful and fast process. One of my clients was stuck, where we were going in a loop over the same fears over and over again. Out of curiosity, I placed a hold on my work with this client and referred her to the coach/therapist. She quickly was able to unblock my client, who returned happily to me and we continue forward.

After that happy result, I've referred other types of clients, allowing me to see how the coach/therapist works. I now consider her my "secret weapon" in helping my clients move quickly forward. There are not too many referrals from her to me, but that's okay, because her main client base is different than mine.

I consider this alliance highly profitable for me, because my clients get quick and lasting results when they work with her, then come back ready to move forward with me. We don't need to announce our relationship, it just works.

So strategic alliances are strange things, just like dating and marriage. I recommend trying things out in an informal referral relationship at first. Let the clients decide how they see the partnership. Get clients, make money. Then see if formalizing the alliance will truly improve client attraction and retention. But you've absolutely got to have clients first!

Lessons learned:

1. First test the alliance by actively referring clients between yourselves, each providing his/her own service. This helps to understand the "touch points" between you and your alliance partner, and how the combined service really works from the client point of view.

2. When the volume of clients being passed between you is sufficiently profitable, then that's the time to consider joint marketing. On the other hand, like me, you may find that keeping each other's independence is more valuable.

3. Consider joint marketing like a marriage, for better or worse you are blending (or blurring) your positioning and reputation with that of the other person.

4. At all times, consider the profitability of the alliance. If it is not profitable, don't do it. It may be that what you really want is an accountability buddy or a mastermind group colleague. Don't seek a strategic alliance just to soothe your loneliness!

5. Alliances are great. I highly recommend finding a compatible alliance partner. Just make sure that whatever you do builds your profit as well as stoking your passion! (...for your business project and vision, that is!)

When you find a fellow solopreneur that you like to work with, go first for the profitability, then go for the splash!

Touching the sacred

While riding the bus today (Mar 4 '07) I happened on the CBC Radio One program "Tapestry", a "weekly exploration of spirituality, religion and the search for meaning". "Tapestry" happens to be one of the CBC radio shows I really like, because their guests often get me thinking.

This week's guest was Bo Lozoff of the Prison Ashram Project and the Human Kindness Institute. Bo Lozoff dedicates his life to promoting the practice of human kindness, especially in prison populations around the world.

At one point he mentions the "Sanatana Dharma", or the central teachings of Hinduism. Mr. Lozoff has a beautifully succinct way of describing it, which I found later on the net in a sermon he gave:

(...) There's something in the East called Sanatana Dharma, which roughly means "Eternal, Universal Truth," and it consists of only three principles:

1. There is indeed something transcendent, beyond comprehension, something divine. It's real. It exists.

2. Each of us -- you and I, not just the Dalai Lama, St. Francis, Mother Teresa -- but you and I, can and must directly experience this divinity.

3. That is the only purpose of life. Everything else, who we are, what we look like, how old, how wealthy, how poor, how much or how little we suffer or find happiness, what we do for a living, what we do in the world, how many children we have, EVERYTHING else is a support system toward our direct experience of the eternal Great Mystery. [emphasis mine] (...)

Bo Lozoff then goes on to say on the radio program "if we do not strive to touch the sacred, then we are wasting our lives" (this is the part where I grabbed my pen and paper and scribbled it down)

Where am I going with this?

It was the "touch the sacred" part that really connected with me. This is a powerful reminder to me about the importance of discovering my life mission, vision and permission, to use it to ignite my passion and to live it through everything that I do.

Being a solopreneur, being an entrepreneur, the whole point of this way of life called "business" is about creating a means to channel our passion and make a difference in the world. In business we have the freedom to choose our direction and the initiative to move into action. This is why I believe entrepreneuring is such a high calling...

Business is more than just making money to survive... if that's all that I'm doing (surviving), then I am not really living, I am just existing. What Bo Lozoff is reminding me is that it is my duty to live a bigger picture, to strive towards a higher vision.

Bottom line? If what I am doing right now does not fire up my passion and make this world a better place, it's time to change what I'm doing!

This is why I put so much emphasis on exploring mission (who I am), vision (what I want) and permission (why I want it), to ignite passion and channel it to power oneself "from passion to profit", where profit is about the intangible experience as much (or more) than the tangible financial impact.

If "success" is creating an experience of living that fully expresses "Who I Really Am", and if this transcendant, higher, sacred energy as described in the Sanatana Dharma infuses this "Who I Really Am", then as a solopreneur, channelling my passion through my livelihood to make the world around me a better place, I can think of no higher calling, no better way to "touch the sacred".

There has to be more to life than just money...isn't there?

About the thought of the week:

"To laugh often and love much; to win the respect of intellingent persons and the affection of children; to earn the approbation of honest citizens and endure the betrayal of false friends; to appreciate beauty; to find the best in others; to give of one's self; to leave the world a bit better, whether by a healthy child, a garden patch or a redeemed social condition; to have played and laughed with enthusiasm and sung with exultation; to know even one life has breathed easier because you have lived - this is to have succeeded." - Ralph Waldo Emerson

It is too easy, as a solopreneur, to lose sight of why we do what we do, putting in insane hours, willingly investing our life energy into chasing a dream... The danger is that the grind of the survival cycle can also wear down our passion for what we are doing... while we focus on simply bringing in enough revenue to hang on another week, or month, or day...

There are many easier ways to earn a living. However, in my humble opinion, none are as rewarding as creating a livelihood from one's passion.

The calling of the solopreneur is to live life to the limit, to love every aspect of being, and to return this love to others in the form of the benefit we are creating from transforming the vision from passion to profit. "Profit" in its grandest sense - the tangible and intangible positive benefit that all stakeholders can share in to further their own experience of life.

In this "Valentine's week", this is the thought that I send to you. As says another person I truly admire, Dr Myron Wentz: "Love life and live it to its fullest, in happiness and health."