Growing Your Business: Money Is About Priorities

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Money is entirely about priorities. People can spend it any way that they choose. They can buy fancy cars that suck up a lot of gas, or they can buy more economical vehicles that are more energy efficient and socially responsible. People can be selfish or people can be lavish, but the one thing that we can all agree on is that people can spend their own money in any way that they want.

Several years ago, I called a family member and asked them if they wanted to take their family to Disneyland with our family. My wife and I thought it would be nice for all of us to go together. The family member responded that they didn't have the money to go to Disneyland. "Sorry, thanks for the invitation, but we can't join you." As it turned out, two weeks later, the same family member took their kids to Knott's Berry Farm.

The lesson here is that somebody might not have the money for Disneyland, but they have the money for exactly what it is that they want to spend their money on.

So, when you are asking people to get involved in your projects or to advance money to you or to buy things from you, you always have to think about the situation from their perspective because that is the only perspective that matters to anybody.

Everybody gets to spend their own money in exactly the way that they want to, so you have to tie yourself into their priorities. I was recently listening to a book on tape by Dale Carnegie. In his world famous book called "How to Win Friends and Influence People," Mr. Carnegie was saying that he loves strawberry pie and whipped cream, but when he goes fishing he doesn't bait the hook with strawberries and whipped cream. He baits the hook with the kind of worms that the kind of fish he is fishing for are going to enjoy. That's how he gets them to bite!

That is how life works: we have to tie ourselves into the priorities of other people, and when we do that, we become successful. If people can spend money on whatever they want, then we have to demonstrate that what we have is something that they should want. And once we create that process and put everything in motion, the wheels of commerce begin.

So, as you are working hard every day to build your company, or as you're building your career, be well aware of the priorities of the people to whom you are selling and marketing. They can spend their money, or their company's money, any way that they want. Your job is to position what you have as something that your prospects want. If they say "No" you will know that means that you haven't appropriately tapped into the "want factor" that they have for the priorities of their own money.

About Joel G. Block

Well known in the business community, Joel Block is a best selling author, speaker, and business strategist. Frequently a principal in his transactions, Joel has raised tens of millions of equity dollars for his ventures, which have included real estate syndications and privately held businesses.

Joel’s career is highlighted by the launch of a financial publishing company which he grew nationwide and later sold to the Los Angeles Times. More recently, Joel works with scientists, engineers, technologists and others to help them optimize their entrepreneurial opportunities. Would you like to get a private phone consultation with Joel? Visit www.joelblock.com/capital for details.

Also, be sure to check out our newest project: a blog to organize the blogs that cover entrepreneurship: http://www.entrepreneur-hub.com

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