IS YOUR THINKING KEEPING YOU POOR?
50 WAYS THE RICH THINK DIFFERENTLY
Professional member Douglas Kruger is a tour de force to be reckoned with on the speaking circuit and as an author. He is one of our busiest speakers on the business circuit and writes prolifically – books, blogs, weekly newsletters and more. He is a content machine, and a passionate one at that! At the 2016 PSASA national convention, Douglas was inducted into the Speakers Hall of Fame and for good reason.
In August 2016, Douglas published his fourth book with Penguin, and the second one in 2016 alone. I said, he is a machine. As a Penguin-published author myself, I know it is no mean feat for a publisher to publish just one of your books a year, let alone two! So, I asked Douglas to give us a brief synopsis, especially for speakers, of his new book, Is Your Thinking Keeping You Poor? 50 ways the rich think differently.
“We’d like to book a speaker, but we can only offer a quarter of your fee.”
“Interesting. I’d like to buy an S-Class, but I can only afford one of the wheels.”
Value is a fascinating concept. In my new book with Penguin, ‘Is Your Thinking Keeping You Poor? 50 Ways the Rich Think Differently,’ I explore the idea that high net-worth individuals constantly seek out ways to raise the value of what they do. They don’t focus on working more hours. They focus on becoming more valuable per hour. And when they get it right, clients pay the high fees, because the perception of value is convincing.
Lessons from Lamp posts:
It’s a morally awkward analogy, but consider: How is it possible that one impoverished prostitute working on a street corner might endanger her life for a total return of R50, while a high-end escort working in an apartment can command R20,000, for ostensibly the same service? Leaving morality aside for a second, the answer lies in perceptions of value. There is a radical difference to be realized financially by those who can portray, and deliver, a different level of…um…service.
It’s not about a ‘Gig.’ It’s about Changing a Company’s Direction:
As speakers, some of us are happy to accept R4,000 for an engagement. Others command upward of R40,000. If we believe that we are charging for ‘an hour of speaking,’ we miss the mark, and our marketing will show it. However, when we begin to understand that we actually charge for ‘results for a corporation,’ the dynamic changes completely.
Sure, it’s the same thing, in terms of the delivery mechanism: an hour on a stage. But the intrinsic value of what we deliver during that hour is radically different, and the entire course of an organization may be altered as a result. In fact, if it isn’t, we likely haven’t earned our premium fee.
It’s ideas like these that I’ve explored in my new book, which is a compendium of all the best insights from wealth literature, combined with my own lessons learned the hard way over the years. I’ve wrapped it up in humour and stories – as speakers are wont to do – but I’ve kept it truthful and hard-hitting, favouring accuracy over political correctness or cosseting mistruths.
Understanding value is one of (but only one of) the primary differentiators between families who work hard, yet remain trapped in generational cycles of poverty, versus those who become self-made millionaires. Ultimately, it’s not about how many coins you possess – it’s about how your mind is wired. The answers do exist, and they are accessible. Here are 50 of them…
Ed: Thanks for this insight into our own business and our thinking Douglas. This is the perfect book to read in our current challenging economic climate in which we need to break down the barriers in our own minds first to create and attract prosperity.