It’s Time to Get Mad! By Robert Kiyosaki
December 4, 2009
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REINVENT YOURSELF AND THRIVE IN 2010. By Brian Tracy
December 4, 2009
Internationally known best-selling author, sales trainer and speaker Brian Tracy promises…
“Give Me 60 Minutes And I’ll Show You How To Reinvent Yourself and Thrive in 2010”
Make the Rest of Your Life the Best of Your Life!
Join Me For This Live Teleseminar on December 17th, 2009 at 11am PST
Dear Frustrated Friend,
Brian Tracy is Chairman and CEO of Brian Tracy International, a company specializing in the training and development of individuals and organizations.
He has consulted for more than 1,000 companies and addressed more than 4,000,000 people in 4,000 talks and seminars worldwide. As a Keynote speaker and seminar leader, he addresses more than 250,000 people each year.
Brian’s goal is to help you achieve your personal and business goals faster and easier than you ever imagined.
We live in turbulent times. Not a day goes by without hearing about another company going bankrupt. Layoffs are a daily occurrence.
Real estate foreclosures and personal bankruptcies dominate the news.
You or someone you know may have been a recent victim of this recessionary economy. If not, you will no doubt be affected by the downturn at some time in the near future.
If you’re fortunate enough to still have a job, consider yourself lucky. If you’re a business owner struggling to get by, you may want to consider making a few changes if you want your business to survive.
With 2009 coming to a close, your prospects for 2010 and the future may seem bleak; even hopeless at times.
As you know, we live in a world that can change in a nano-second. One minute you’re riding high, the next you’re shaking your head as you try to figure out what just happened.
So how do you protect yourself from becoming another statistic? How do you safeguard your future and protect your family without going crazy?
Do you really have a choice? Do you have a say in how your future plays out during these uncertain times?
My answer is a resounding YES!
I’ve got good news for you. After more than 3 decades of helping thousands of people just like you to change their futures…I’ve discovered a certain way of thinking and acting which guarantees how your future will play out.
And the best part is that you can start right now. In spite of what’s going on in the world, you can rise above it. You can succeed.
If you’ll share 60 minutes of your time with me…I’ll share the secrets of reinventing yourself.
You heard right! In just 60 minutes, I’ll reveal the very same techniques I used to change my future—back when I was facing a blank wall.
Here’s the thing.
You may or may not believe in luck. Well, I’m here to tell you, you make your own luck. You, and only you, determine your own future.
Like it or not, it is what it is. Now I’d like to share a…
A Short Story
A while back, I remember reading an article about an entertainer; A singer to be exact.
He had reached the end of the line, career wise. It had been years since he had recorded a hit song or had any significant CD sales. In fact, his record company was about to drop his contract.
The joy ride had ended. It was time for him to make a major change. Fortunately, this particular celebrity was able to completely reinvent themselves.
And you know what? Within 1 year of implementing his comeback strategy, he had a number one single. The offers were pouring in.
So what was his secret?
Simple, he reinvented himself. He changed genres and was almost instantly successful in his new career.
It made me think about times when I have faced similar challenges. I didn’t give up. No, I didn’t quit or beat myself up for failing.
Instead I simply changed gears. I reinvented myself and found new success. If I can do it, so can you! In fact…
It’s All About You
So what about you? Can you change genres? Can you make a successful comeback from the curves life throws you?
I think you can. You have a chance to turn things around, if you want to.
On Thursday, December 17, 2009 I will share exactly what you must know to create your perfect future.
You and I, and 99 other serious people, will spend an exhilarating, enlightening, and intimate hour together discussing the possibilities.
In this fast moving Teleseminar, internationally known best-selling author, speaker and thought leader Brian Tracy will share with you:
- How to determine who you really are…you might be surprised by what you discover
- How to decide what you really want in each area of your life…cut through the confusion and focus on your true wants
- How to identify your greatest talents and skills…uncover your strong points and paint the best picture of yourself
- How to calculate your true market value…find out what your skills and experience are truly worth
- How to move your current career forward…develop a strategy to give yourself some job security
- How to get the job you really want…don’t settle for second best, position yourself for success in the job you want
- How to maximize your performance, productivity, and output…get more done in less time, and get ahead faster
- How to get paid more and promoted faster…it’s surprisingly simple once you know how. I’ll share my proven techniques with you
- How to develop unshakeable self-confidence and rock-solid persistence…this is key to getting what you really want
But that’s not all.
You’ll discover why you should become a master of your circumstances—or risk being another victim. You have a chance, but you must take it.
One thing you must understand is…
Change is Inevitable
Face it, whether you like it or not, change is coming your way soon.
Today, things change at the speed of light. If you’re not prepared for it you could find yourself on the outside looking in.
Don’t get caught by unexpected, unavoidable, and unpredictable changes going on around you. And why waste your valuable time trying to fight it?
Keep in mind, only spawning fish successfully swim upstream. And then they die.
No need to swim upstream. I’ll give you what you need to control your own tide of success.
As you become a no-limit person, you will become virtually unstoppable as you pursue your bright future with dogged determination and rugged self-confidence.
Here’s how you can…
Together, you and I will explore the possibilities of your successful future.
You’ll spend an exciting hour with me in a live format. This is strictly limited to the first 100 people who respond to this offer by 12 noon PST on Wednesday, December 16th. (3:00 pm EST)
But wait there’s more.
At the end of the call, we’ll open up the lines so you can personally ask me your most pressing questions. I’ll give you straight up, no-nonsense advice to the best of my ability.
If you’ve heard enough…
Remember, attendance is strictly limited to the first 100 people who say YES to this offer
Sorry, but to give you the opportunity to get the most out of this call, we must limit the number of participants.
Plus, I plan to shamelessly bribe you with 4 FREE Gifts!
In addition to your 60-minute live Teleseminar and 30-minute Q&A session, here’s what you’ll get when you reserve your place on the call now…
FREE GIFT #1
Reinvention
My top selling hard cover book gives you the keys to taking control of your life.
How many times have you said to yourself “I have the perfect life, things just couldn’t get any better? You’re making way too much money and you have the perfect job or business.”
Never, you say? Well, maybe it’s time for a change. Could be the time has come to reinvent yourself. It’s never too late to get a fresh start.
In this 224 page book, I’ll share the very steps I used myself and taught to millions of people around the world. Throughout my life, I’ve reinvented myself so many times I’ve lost count. But each time I found it getting easier and easier. Now I reveal the easy way to reinvent yourself for success. Kick start your life now!
Valued at $21.95
FREE GIFT #2
The Law of Attraction in Action
How to attract wealth, happiness, joy, love and prosperity into your life again and again.
The Law of Attraction is one of the oldest Universal Laws known to man. Once you learn the secret to unleashing it’s amazing power, you will be amazed.
Books and movies like “The Secret” have brought this Universal Law to the world.
I spent 20 years studying philosophy, metaphysics, religion, spiritual development, and psychology and success principles. When I finally grasped the secret of how the Law of Attraction really worked; things started to fall neatly into place for me.
And now I want to offer you what I learned in a life-changing 72 minute Teleseminar recording. Why knock your head against a wall trying to figure it out when I’ve done it for you?
Valued at $23.60
FREE GIFT #3
21 Ways to Get the Job You Really Want
Discover how to make your dream job a reality. On this riveting 67 minute CD, I’ll show you how to…
- Realize your full and unlimited potential by getting an excellent job and keeping it…be all you can be
- Learn the strategies for finding your dream job…you’ll be stress free
- Decide where you want to work and who you want to work for…you will be happier and more content
- Get a better, higher paying job immediately. Get the greatest opportunities and best pay now…don’t you deserve it?
Every graduate of my creative job search programs went on to secure better, higher paying jobs. Sometimes within days of my seminar.
Get a better job and make more money now.
Valued at $23.60
FREE GIFT #4
Simplify Your Life
Take control of your life. Reduce stress and increase your productivity now.
Imagine living the life you’ve always dreamed of. Picture yourself living truly happy and stress-free.
It’s as simple as removing the clutter from your life. Have you ever wondered how busy, successful people seem to get so much done, yet still have plenty of time to do the things they love?
With Simplify Your Life, you can too! Spend 60 minutes with me as I show you how to simplify your life in all areas.
- Feel energized, peaceful and happy…you’ll sleep better
- Put your number one priorities first…do what you want to do
- Increase your income…provide more for your family
- Enjoy more time with family and friends…the real riches of life
My 60 minute CD shows you how you can live a longer, happier, healthier and more fulfilled life.
Valued at $23.60
But I’m only getting warmed up.
When you agree to participate on this life-changing call I want to reward your intelligence by offering you 2 additional FREE GIFTS!
FREE GIFT #5
Maximum Achievement Affirmation
Extensive whole brain research has shown you can learn almost any subject rapidly as a result of using deep relaxation methods. Combined with music, the use of a systemized, organized process can rapidly accelerate your learning curve.
This powerful 22 minute CD includes 10 powerful affirmations guaranteed to nurture your subconscious mind with positive beliefs.
You’ll experience a calm, relaxed feeling as you listen to gentle affirmations combined with soft music.
Change your negative behaviors and adopt new positive habits on a safe, relaxing learning CD. Listen when and where you want.
Relax and allow the positive affirmations into your subconscious mind.
Valued at $19.95
FREE GIFT #6
The Life Planning Process
Discover how to get ahead in life faster than 97% of the population. Do you long to be a top achiever? Do you want to show the world your best stuff?
I’ve studied thousands of successful people and I discovered they all have one thing in common…they all set and accomplish goals lightening fast.
And now you can too! The real secret is writing down your goals. The action of writing them down makes them real in your mind. Once you start thinking on paper you will automatically start to achieve more, faster.
My no BS soft-cover book and accompanying 44 page workbook give you the tools and know-how you need to succeed. Overcome obstacles standing in the way of your goals. Never, ever give up!
The Life Planning Process is your step-by-step manual to setting and achieving all your goals.
Valued at $39.95
Okay, let’s wrap up.
Your next move could change your life forever. Ask yourself if you are living your perfect dream life. If the answer is no, you should be on this call.
You are getting a life-changing 1-hour Teleseminar and 30-minute Q&A session. It’s all live and in the comfort of your own home or office.
Plus, you’re getting 6 valuable, power-packed free gifts. And don’t worry if you can’t make it on the call. I realize you lead a busy life, so just in case you can’t listen in live, you’ll get an MP3 recording so you’ll never miss one exciting minute of the call. And I’ll throw in the digital version of all the products for you at no extra charge.
For all $295 of pure value, your small investment of $97 is a drop in the bucket. Compared to what you’d spend just buying dinner for the next week.
Think about what it would cost to attend a live event and purchase all of these belief changing and profit-pulling products separately.
As you now make the decision to participate on this life-changing call, I want you to remember your investment is completely 100% risk-free.
Yes Brian, I want to get in on the call now. I realize if I am not absolutely delighted with the helpful ideas I learn from you on the call, I will get a full refund.
With that in mind I’m ready to reserve my place on the call.
To your success,
Brian Tracy
P.S. If you don’t need the physical products with your Teleseminar, you can save almost $30 by getting the “digital-only” version of the Teleseminar.
Questions? Email or
call 1-858-436-7300
462 Stevens Ave, Suite 202, Solana Beach, CA 92075
Copyright 2009 Brian Tracy International. All Rights Reserved.
Maximize Profits. By Brian Tracy
November 16, 2009
Sales are only one barometer for success. Your ultimate goal is to increase profits in order to achieve the greatest possible return on your investment of money, time, and energy. Every customer, activity, product, or service yields a specific profit of a specific amount. In some cases, you may actually be losing money in one or more of these three areas. One of the most important things you can do for your growing business is to determine where to focus the investment of your time and money based on the return thrown off by this investment.
Personal Profitability
To truly analyze the profitability of your business, you must first examine your personal rate of return. From this personal perspective, what is your major expense? It’s your time. By now, you should have developed the habit of continually asking yourself this basic question: Would I pay someone else my hourly rate to perform this task? If not, you are failing to maximize the return on your time. In other words, you are investing your time in an area that yields less than the optimum rate of return. You are incurring a “loss of opportunity” cost. This, in turn, affects the overall profitability of your business.
People Profitability
Payroll represents one of the largest expense items for most businesses. As a business grows, it typically hires additional staff according to the most pressing need at the moment. Once a person has been hired, often she or he can become a permanent fixture, even when the company’s needs change. Many entrepreneurs are too busy creating products, designing services, and generating revenues to pay close attention to employee performance. Over time, the result can be an inefficient and ineffective staff and a bloated payroll.
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“Become Financially Independent and Never have to worry about money again!”
Now is the greatest time in human history to become a self-made millionaire—and I’ll show you how in just one-hour! You’re never too old or too young to start investing in yourself and your family. Learn how to create your own financial fortress that will keep you and the ones you love safe from whatever the future brings! Learn more here >> |
Customer Profitability
Some customers are more profitable than others; some may actually be costing you money. Can you identify your most profitable customers? Do you know any who are unprofitable? There is not necessarily any connection between the size of the customer or the volume of business he produces and his profitability. There are several questions you should ask as you examine your customers profitability: How often does each customer purchase from you? What is the average size of each purchase? What is the profit margin of the product(s) purchased? How much time is spent providing customer service after the sale? What is the “product returns” record of each customer?
Concentrate on Profitable Customers
Many companies regularly “fire” the top 10 percent of their customers. They stop doing business with those who generate the least revenues or yield the lowest on their return purchases, choosing to concentrate on their more profitable customers and attracting more like them. At the very least, be diligent in rooting out those customers who actually cost you money—regardless of the revenues they generate. You cannot afford to carry this unprofitable load.
Action Exercise
Identify your most and your least profitable customers. Focus on the most profitable.
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“Learn how to build loyal customers who buy from you over and over—
and tell their friends!” A satisfied customer is 10x easier to sell to than a new customer. A referral from a satisfied customer is 15x easier to sell to than a cold call. Now you can develop a customer service strategy that will get people to buy from you over and over again, increasing your sales, income and profitability. Learn more here >> |
Do What You Do Best; Delegate the Rest.By Brian Tracy
November 16, 2009
There is a strong likelihood that the things you do best are those for which you would pay another person your hourly rate. Another way of stating this is, “delegate any tasks that can be performed by a person earning less than your hourly rate—or your desired hourly rate.”
Delegate to a Person with Demonstrated Competence
Having determined what to delegate, the next step is to select the person to whom you will delegate the task. If you delegate an important task to a person who is incapable of performing adequately, you are setting that individual up for failure while inviting disappointment and frustration on your part. This is not to say the person has to be as capable as you. But he must have sufficient skills and experience to effectively perform the delegated task. Choose carefully. It is in the best interest of the person to whom you are delegating and of course, in your own best interest as well.
Define the Task Clearly
Be clear as to your intended outcome. What is the end result you want to achieve when the delegated task has been completed? Make every effort to describe this clearly to the person to whom you are delegating the task. Then ask her to repeat her understanding of the assigned task. If her description is not an accurate summary of what you want to accomplish, explain the differences in detail and ask her to again feed back to you her understanding of the assignment. If the two of you do not start out on the same page, there is little likelihood of success.
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“How to Make More Money, Have More Vacation Time, and Get More Done”
Do you want people to look to you as an example for success? As someone who gets things done on-time and right the first time? Learn how to transform into someone who is always at the top of their game—but still has time to enjoy being with the people they care about most. |
Set a Deadline
Set a clear deadline for completion of the delegated task. Do not be vague. An ambiguous target such as “sometime next week,” or “as soon as you can get it done” will not serve either of you well. Without a clearly defined completion date, there will be no sense of urgency, and the job may very well drag on ad infinitum, frustrating you both.
Establish Benchmarks
It will be important for both of you to be able to gauge the progress being made as the delegated task is carried out. Specifically, how will you measure this progress? Reach agreement on the yardstick by which you will make such judgments.
Agree on Consequences
What will be the consequences of the person successfully completing the delegated task? Are these consequences known by the person charged with the responsibility of carrying them out? Are they important to him? Will they serve to motivate him? The consequences do not have to be enormous, but they should be meaningful to him. Otherwise they will have little effect. Their emotional import is what will have the greatest affect.
Put it in Writing
Before the delegated assignment is launched, there is one additional important step. Have the entire process described to this point documented in a written agreement. Then, have each of you sign it. Psychologically, this final step transforms your mutual understanding into a commitment.
Action Exercise
What one activity or task that does not represent the highest and best use of your time, but that is nevertheless important to the success of your business, will you delegate?
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“Influence People and Get What You Want – Using Only Your Words”
It’s a simple fact–the most successful people in the world are also the best communicators. Your ability to communicate with others will account for fully 85% of your success in your business and in your life. My CD will teach you how to persuade and influence others by speaking to them. |
Four Parts of Visualization. By Brian Tracy
November 16, 2009
There are four parts of visualization that you can learn and practice to assure that you use this incredible power to its best advantage all the days of your life.
How Often?
The first aspect of visualization is frequency, the number of times that you visualize a particular goal as achieved of yourself performing in an excellent way in a particular event or circumstance. The more frequently you repeat a clear mental picture of your very best performance or result, the more rapidly it will appear as part of your reality.
How Long?
The second element of visualization is the duration of the mental image, the length of time that you can hold the picture in your mind each time you replay it. When you deeply relax, you can often hold a mental picture of yourself performing at your best for several seconds, and even several minutes. The longer you can hold your mental picture, the more deeply it will be impressed into your subconscious mind and the more rapidly it will express itself in your subsequent performance.
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“Relax and allow affirmations to go through your subconscious mind!”
According to whole brain research, you can learn subjects quite rapidly as a result of deep relaxation and music used in a systemized, organized process. Because of this, it is also possible for you to learn new belief systems using the same techniques. Click for more >> |
How Clearly?
The third element of visualization is vividness. There is a direct relationship between how clearly you can see your desired goal or result in your mind and how quickly it comes into your reality. This element of visualization is what explains the powers of the Law of Attraction and the Law of Correspondence. The vividness of your desire directly determines how quickly it materializes in the world around you. Here is an interesting point. When you set a new goal for yourself, your image or picture of this goal will usually be vague and fuzzy. But the more often you write it, review it, and repeat it mentally, the clearer it becomes for you. Eventually, it will become crystal clear. At that point, the goal will suddenly appear in your world exactly as you imagined it.
How Intensely?
The fourth element of visualization is intensity, the amount of emotion that you attach to your visual image. In reality, this is the most important and powerful part of the visualization process. Sometimes, if your emotion is intense enough and your visual image is clear enough, your goal will immediately come true.
Of course, the elements of frequency, duration, vividness, and intensity can help you or hurt you. Like nature, the power of visualization is neutral. Like a two-edged sword, it can cut in either direction. It can either make you a success or make you a failure. Visualization brings you whatever you vividly and intensely imagine, whether good or bad.
Action Exercise
Continually feed your mind with clear, exciting, emotional pictures. Remember, your imagination is your preview of life’s coming attractions.
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“Unlock your potential and become everything you are capable of becoming, right now!”
When you learn how to Unlock Your Potential, you will be able to visualize your future goals and turn them into reality, simplify your life and overall feel fantastic about yourself and every area of your life. |
Believe in yourself
November 15, 2009
The Secret to Your Success: Making the Web Pay Big. By Brian Tracy
November 13, 2009
What’s Limiting Your Online Profits?
If you’re like most entrepreneurs and small business owners, your web site is at best, only bringing in a trickle of sales. It could be flooding your bank account with profits.
What can you do to turn this around? How can you realize the promise of Internet marketing to reach more customers, help more people find and purchase your products or services, and make a whole lot more money? How can you make your site and your business a huge success?
Typically, online profits are limited by three things: the lack of visitors, qualified leads and, of course, sales. No matter how hard you work or how much money you spend on advertising, without making specific changes to improve these three things, you can’t grow your business online. If your strategy isn’t working now, sticking with it will just get the same results—or lack of results.
The Secret to Web Sales.
The secret to successful online marketing is to get the information you need to build traffic, increase leads and close more sales. Without this essential information you can easily get frustrated, give up or go broke.
An Online Wealth Building System
You need a proven web marketing system. I’m amazed at how many entrepreneurs are trying to sell online without one.
Discover the fastest way to increase your profits online.
With a proven system for attracting visitors to your web site, generating leads and maximizing sales, you can easily double or triple your online profits.
Do What The Brian Tracy Staff Did
I’ve had a web site up for many years, but it wasn’t always as successful as it is now. In early 2007, my staff went looking for ideas on how to improve it, make it more helpful, and more profitable.
Here at Brian Tracy, we try to practice what we preach. No matter how successful we are, we know that to continue growing, we need to keep looking for even better ways of doing things.
After sifting through tons of information and resources, we purchased one web marketing system and used it to help grow our business. We put it to the test and discovered that it worked amazingly well.
Our solid profits grew even faster and instead of shooting in the dark, we had a clear plan of what to do first, second, and third to make the briantracy.com site even more successful.
Which web marketing system did we use that can help you, too?
The One Proven Web Profit-Building System
The ‘Insider Secrets to Creating Web Sites That Sell’ by Charlie Cook is the online wealth building system we discovered. Want to make it work for you, too?
It’s full of proven ideas and tips you can use to:
Attract More Visitors,
Everyone knows that at top position in the search engine can bring tons of visitors to your site. Discover how to get a lot more traffic from the search engines.
Generate More Leads
If a visitor leaves your site without contacting you, you’ve lost the sale. Find out how to convert at least 10% of visitors into qualified leads.
Convert More Prospects to Buyers
Just because someone has given you their contact information doesn’t mean they’ll buy from you. Learn the secret to converting prospects to buyers.
Maximize Customer Spending
When someone finally buys from you, you have a golden opportunity to help your customers get more of what they want. Discover how to up-sell and cross-sell and increase per-sale profits by 30%.
Increase Repeat Sales
Once a client has bought from you, it’s twenty times easier to get them to do it again. Use this follow-up technique after the sale to get the next one and see your profits soar.
As an exclusive offer to my readers, I’ve persuaded Internet marketing expert, Charlie Cook, to offer this proven online money-making system practically free for your review. Use his comprehensive web marketing system to bring in more profits each month.
Claim your copy here.
Your Most Important Job…By Robert Kiyosaki
November 12, 2009
Your most important job is to change your negative opinions of yourself.
What setbacks and negative opinions in life have you had that you can use to empower rather than drag down your potential to succeed in life and financially?
In what way have you already done this? Let’s Discuss!
If the World is Dumping Dollars, Why Are You Saving Them?
——————————————————————————–
If the World is Dumping Dollars, Why Are You Saving Them?
In his latest Conspiracy of the Rich Bulletin, Robert Kiyosaki gives some frightening insight into how the world’s central banks are preparing for the collapse of the dollar – and how you can too. Don’t get caught in the coming financial storm! Find out how to find your financial high ground.
On November 3, the International Monetary Fund sold India 2,000 tons of gold for $6.7 billion. What is interesting is that India purchased the gold at the highest price in history. In other words, they do not care what the price of gold is. They simply do not want counterfeit money. This purchase makes India’s Central Bank, the 9th largest holder of gold.
– Excerpt from Robert’s Conspiracy of the Rich Bulletin
The Message is spreading!
Conspiracy of the Rich: The 8 New Rules of Money
– over 6 weeks on The New York Times® Bestseller List
- Now in Stores!
Proving it has the right message at the right time, Conspiracy of the Rich is enjoying it’s sixth week on The New York Times Bestseller list. If you haven’t purchased your copy, now is the time to read the book that is capturing the nation’s attention.
Over 1.2 million people visited the Conspiracy of the Rich website, making it an Internet sensation. Now you can read the print version of the book with exclusive and expanded content not found online!
A new Author’s Note and Afterword by Robert
Integrated feedback hand-selected from over 10,000 comments
A bonus Q&A chapter where Robert answers your questions
Secure your copy of Conspiracy of the Rich today, and be a part of publishing history. Order now!
Read Roberts latest update
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© 2009 The Rich Dad Company | 1-800-308-3585
Ricardo’s Law of Comparative Advantage. By Brian Tracy
November 5, 2009
Ricardo is perhaps best known for his theory of comparative advantage of nations, which postulated that specialization leads to wealth, and self-sufficiency leads to poverty. Such a proposition was initially regarded as preposterous—and often still is by those who do not truly understand the principle. Through his research, Ricardo demonstrated that trade between two countries can be mutually profitable, even when one country is more productive than the other in every commodity that is being exchanged.
England and Portugal
Ricardo used trade between England and Portugal as a prime example. Portugal could produce both wheat and wine more cheaply than England, giving Portugal an absolute cost advantage in both commodities. Delving deeper into the economics of these two countries, Ricardo found that one unit of wine in England cost the same amount to produce as two units of wheat, while in Portugal, the production cost of one unit of wine was the same as 1.5 units of wheat.
Lost Opportunity
Even though Portugal could produce wheat more cheaply than England, every unit of wheat it produced cost the country the opportunity to make a higher profit by producing one unit of wine. This is known as a lost opportunity cost. From this perspective, Portugal had a comparative cost advantage in the production of wheat. Ricardo went onto show how both countries could benefit by trading these two products with each other, with Portugal focusing on the production of wine and England focusing on the production of wheat.
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Take a Free Total Business Diagnostic that normally sells for $295. Analyze your whole business in less than 10 minutes.
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Application in Your Life
At the personal level, this is why, in our coaching program we stress the importance of determining your highest-value tasks—the 20 percent of things you do that yield 80 percent of your desired results—and then focusing on these high value tasks while delegating (or even eliminating) the rest. A second lens through which you have learned to view this principle is that of your hourly rate. Anything you do, for which you could not pay someone your desired hourly rate leads to a lost opportunity cost.
Application in Your Business
Ricardo’s Law of Comparative Advantage is equally relevant in the management of your business. To the extent that you invest any of your business’s resources—the money, time, and energy of your employees, your physical plant and equipment, your intellectual capital and the like—in activities where another company has a comparative advantage, you incur a loss-of-opportunity cost. In some cases, the loss can be significant.
Action Exercise
Which of your products or services represent the highest return on investment of your business’s resources? These represent your business’s areas of comparative advantage.
“How You Can Start, Build, Manage, or Turnaround Any Business”
Most people who start or manage a business simply don’t have the skills needed to make their business profitable. It’s not their fault. They just haven’t learned HOW to build a profitable business.
What you will learn in this program will give you the essential tools for creating a business that can flourish in any market. Click for more >>
