“Damn the torpedoes! Full speed ahead!” – Admiral David G. Farragut
I’ve known Joe Vitale, the rich and famous Internet marketing guru, for decades. During that time, we’ve talked a lot … and he’s given me lots of great advice and guidance.
But something he said a few months ago at ETR’s Bootcamp radically changed my life and financial situation for the better – and it can do the same for you.
During a terrific talk at the Bootcamp, Joe talked about the importance of taking swift action when you have a good business idea.
“Money loves speed,” said Joe, repeating it several times.
This thought resonated strongly with me, because if I think about the mistake I’ve made that’s cost me the most money in my life, it’s clearly a failure to take swift action.
I have a lot of ideas. We all do. An idea has no value by itself, though. It only gains value when you put it into action. And too many of us, me included, are better at thinking about doing things that can make us money … than we are at actually doing them.
We get excited about the ideas, while, in reality, it’s the actions that make the real difference.
It reminds me of something the late science fiction and science writer Isaac Asimov said.
Asimov was one of the world’s most prolific writers. He wrote and published more than 475 books during his lifetime – which is even more amazing when you consider that he didn’t publish his first book until age 30 and passed away at age 72.
Asimov said he often received letters from people saying that they had a great idea for a science fiction story. They suggested to Asimov that if he would write a story based on their idea, they could split the money 50/50.
“I have a better idea,” Asimov always replied. “I’ll give you the idea, you write it, and we’ll split it 50/50.”
The point, of course, is that having the idea isn’t so hard – and, by itself, doesn’t generate a dime of profit. The hard work – and real payoff – is in writing and selling the story … or creating and marketing the product … or investing in the property or fund … or launching the business venture.
My colleague, best-selling self-help author Robert Ringer, thinks action is so important that he wrote an entire book (titled Action) to communicate that essential idea.
And it’s not just action, but FAST action that can really make you rich and famous.
Not only does fast action help you launch your product or marketing campaign before your competitors do … it also ensures that things actually get done and out the door, rather than sitting around on the back burner, withering away from age and inattention.
All really successful people act upon the belief that money loves speed – and, in return, that has made them rich.
Michael Masterson says it this way: “Ready, fire, aim!”
As Michael explains it, the ordinary businessperson is oriented toward planning rather than action. His approach is “Ready, aim, fire” … which translates into spending so much time planning, researching, taking surveys, doing market studies, and having meetings that the idea never gets off the ground.
Or, by the time the idea’s ready to launch, it’s already been done by someone else. Or the opportunity to profit from it has already passed.
Point is, the most important thing to do is simply … something. In business, that “something” is to actually create a product and run a test marketing campaign to prove that the market wants what you are selling and is willing to pay for it.
“Until you’ve done that, you don’t have a business,” says Michael.
In other words, when you have an idea for a product, service, business, or promotion, don’t just talk about it or think about it or write a business plan. Go out and write it, create it, produce it, and test market it. Put it out there and find out whether people want what you are selling – at the price you want to charge.
Ready, fire, aim. Money loves speed. Take action.
So make a New Year’s resolution to move forward with one of your business or marketing ideas and test it during the first quarter of 2007.
No procrastination. No talk. No planning it to death. No excuses. As Nike says, “Just do it!”
One other thing: This article isn’t just a “pep talk” based on what I “think” sounds like a good idea. Since putting Joe Vitale’s “Money loves speed” idea into practical action, I have increased my personal income by $4,000 a week.
That works out to an extra $200,000 a year added to my bank account.
This may be “chump change” to rich guys like Michael, Robert, and Joe (and, who knows, maybe to you, too). But it’s not to me.
So I thank Joe Vitale from the bottom of my heart.
And I promise that you too will thank Joe Vitale for his “Money loves speed” idea. And I guarantee that putting it into action will be the most important – and profitable – New Year’s resolution you’ve ever made.
Ed. Note: Bob Bly is the editor of ETR’s Direct Marketing Masters Edition, a program to help you start your own successful direct-mail business.]