How can I help a client who wants to become wealthy but has no references or knowledge about it?

Summary

The speaker reflects on the misconceptions of wealth and the value of learning from self-made individuals. They emphasize the importance of understanding wealth's impact on life quality and suggest talking to successful people, especially in retirement homes, who can share their experiences and insights. The speaker also discusses the limitations of charging by the hour and the significance of belief in achieving success, highlighting that many millionaires and billionaires started from nothing and that belief is the key to trying with full determination.

Takeaways

• 💡 Wealth is not just about money; it's about the quality of life and personal growth.
• 👨‍🏫 The speaker once perceived college professors as wealthy, but now acknowledges that many are underpaid and have shifted from teaching to preaching.
• 🏛 The speaker believes that colleges have lost academic prestige due to the focus on politics rather than education.
• 📈 To understand wealth, one should seek advice from self-made individuals who have experienced the journey from nothing to success.
• 👴 Retirement homes are a good place to find self-made individuals willing to share their insights and experiences.
• 💼 Success often comes from learning from those who have been there and done that, rather than trying to reinvent the wheel.
• 📊 The speaker emphasizes the importance of charging for value rather than by the hour, which can limit earning potential.
• 💹 The speaker discovered that charging a sliding scale based on what clients could afford was more equitable and reflective of their value.
• 🎓 Success is often perceived as luck or intelligence by others, but the speaker encourages a belief that if others can do it, so can you.
• 🎸 Learning to play an instrument, like the guitar, is an example of how success is about making music rather than technical complexity.
• 🌐 Modern technology provides access to learning tools and resources that were not available in the past, making it easier to develop skills.
• 🚀 Building wealth is about tenacity, determination, and hard work, but it all starts with a strong belief in one's own ability to succeed.

Q & A

What is the speaker's initial misconception about wealth?

The speaker initially thought that college professors were rich, indicating a lack of understanding about what constitutes wealth.

Why does the speaker believe many college professors are underpaid?

The speaker feels that professors are underpaid because they have shifted from teaching to preaching, which has diminished the academic prestige of colleges.

What does the speaker suggest as a way to understand wealth?

The speaker suggests talking to self-made individuals, particularly those in retirement homes, as they can provide insights into wealth creation from scratch.

Why does the speaker think self-made individuals are willing to share their experiences?

The speaker believes these individuals are open to sharing because they enjoy discussing their journey and discoveries, and they don't want others to reinvent the wheel.

What advice does the speaker give regarding the value of services provided?

The speaker advises that the value of services should not be based on the client's wealth but on the provider's own worth and the change they bring to the client's life.

How did the speaker's approach to charging for services evolve over time?

The speaker initially used a sliding scale based on the client's wealth but later shifted to charging by the change they provided, considering what the client could afford.

What is the speaker's view on the limitations of charging by the hour?

The speaker believes that charging by the hour limits one's income because it is capped by the number of hours in a day, which can be both good and bad.

What alternative method does the speaker use for charging clients?

The speaker charges by the change they create for the client, using a sliding scale based on what the client can afford.

How does the speaker address the misconception that success is due to luck or intelligence?

The speaker encourages people to believe that if others can achieve success, they can too, by adopting a mindset that dismisses exclusionary excuses.

What example does the speaker provide to illustrate the simplicity of learning to play the guitar?

The speaker mentions Crosby, Stills, Nash & Young, whose songs use a limited number of chords, emphasizing that success in music is more about making it sound musical than technical complexity.

What is the speaker's opinion on the importance of belief in achieving wealth?

The speaker believes that a strong belief in one's ability to achieve wealth is crucial, as it drives tenacity, determination, and hard work, and without it, one may not even try.