Become a Business Sponge

Invest three percent of your income in yourself (self-development) in order to guarantee your future. - Brian Tracy

Before you start your new venture, commit to becoming a business sponge. Soak up every bit of key information you need to rapidly increase your competence in sales, marketing, time management, and other key entrepreneurial skills that will dramatically affect the ultimate success of your business.

It’s a pretty simple yet seldom discussed fact that competence in various disciplines of business brings success, lack of competence—failure.

If you have no money, then you most likely have never studied money, stocks, real estate, or the power of compound interest. If you don’t have enough customers, then you probably don’t know enough about marketing.

If you have customers but aren’t making enough money, then you probably don’t know enough about sales.

If you are having trouble finding time, then you don’t know enough about time management.

In my mid-twenties I discovered the amazing power of audio learning. I simply switched off the radio and swapped it for the power of great minds like Brian Tracy, Tom Hopkins, Dan Kennedy, Jay Abraham, Zig Ziglar, Roger Dawson, Tony Robbins, and a host of others. I quickly learned more about the real world of business in my Audi GT than I had ever learned in school.

Learning in your car takes away the excuse that you don’t have time and makes it painless. The car, of course, is not the only place you can rapidly gain knowledge. Books, videos, webinars, seminars, and teleconferences can all quickly add to your knowledge base. Focus first on the areas that you know will provide the largest payoff and continue from there.

You must commit a portion of your personal income, 3–5%, and a portion of your week to your own personal growth. If you are not growing, you are shrinking and if you are shrinking you are dying.

The more you know, the more you grow.

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