How to Make More Money

If you're struggling to make more money, you are probably looking around for support, and finding opposition instead. This episode zeroes in on the entrepreneurial opposition known as Crabs. The “crabs” in your life are the folks who try to pull you down, when you're trying to rise. Listen to find out what to do about them. https://kellyhollingsworth.com/37

What's the biggest complaint in the personal lives of struggling entrepreneurs? You want support—from your spouse or partner, friends, and family. What do you get? The opposite. When you're building yourself up to do big things, it feels like they're tearing you down. The folks who aren't supporting you fall into three categories: caretakers, crabs, and cults. Today we're talking about the caretakers, and how caretaking costs everyone money. Get the full show notes at https://kellyhollingsworth.com/36

We tend to think that profits come from a “positive” mindset. Is this true? No. Today's episode explains why a bit of necessary negativity, in the proper dose and at the right time, sets the stage for you making serious money. Full show notes at https://kellyhollingsworth.com/35

Today I'm sharing the exact 7-step recipe for high profit thinking. This action plan helps you make more money, because it creates the mental/emotional state of engagement. As an entrepreneur, you need engagement, because engagement creates contribution. You need contribution, because contribution creates cash. https://kellyhollingsworth.com/34

“Manifesting Money” doesn’t work. Why not? Because commerce isn’t a letter to Santa Claus. If you want to make serious cash, you need to make a serious contribution. High profit thinking is the skill that helps you get this done, because it involves solving real problems. When you do this, you make real money.  Full show notes at https://kellyhollingsworth.com/33

How do you remove the risk from your business? With the skill of High Profit Thinking. The first element of high profit thinking is acting from logic rather than emotion. When you do this, you’ll quickly see that most of the “risks” in business don’t exist at all. They are imaginary, and when you look at them logically, they disappear. Get the full show notes at https://kellyhollingsworth.com/32

If your sales funnel isn’t working, looking at the stats gives you surface-level info. It tells you where the funnel is breaking. But it doesn’t tell you why it’s breaking..  This episode looks beyond the stats, and goes deep into the problem. We will look way beyond, “Do A + B, and you’ll get C” and look at why it’s so darn difficult to do A and B to get C. I’ve never spoken about this before, but if your funnel isn’t working, the villain is low-profit thoughts that put humans in a hierarchy. Left unchecked, these perceptions of inequality result in perpetually broken sales funnels.  In this episode, we’ll examine why women, in particular, are held hostage to income inequality.  Stick with me... I’m saying some of the quiet things out loud. I’m going deep in this episode, but I’m not afraid to dig deep with you, because getting to the root of the problem is what we must do to close the gender earnings gap. When we start talking about the real issues, we can begin solving them. Full show notes at https://kellyhollingsworth.com/31

How do you turn your message into a movement? You create a ripple effect. You drop a compelling message into a still pond. The folks near you hear what you’re saying. They like it. They tell others. Friends tell friends. Word spreads organically. Your reach expands. Your audience grows. The ripple effect carries your message farther and wider than you can alone. The organic growth is exponential. And then, the ripple becomes a wave.    To create a ripple that turns into a wave, you need a single magical ingredient: narrative drive. Listen and learn why narrative drive is the “lightning in a bottle from which great fortunes are made.”    WHAT YOU’LL LEARN FROM THIS EPISODE: Why Capturing and Holding attention transforms your message into a movement The critically important ingredient that turns a ripple into a wave What happens when your writing, podcasts or videos “read like a bat out of hell” What exactly is Narrative Drive? And how do you create it?  Why narrative drive sets you apart from everyone else in your industry Why I teach the discipline I call Speaking On The Critical Path A living example of the glee of Narrative Drive and movement toward happily ever after -- my beloved doggie, Sheffield FEATURED ON THE SHOW:   Stephen Pressfield, The Legend of Bagger Vance   High Profit Presentations -- Target #1 (Distilling Your Message) High Profit Presentations -- Target #2 (Highlighting the Happily Ever After) High Profit Presentations -- Target #3 (Clearing the Obstacles) High Profit Presentations -- Target #4 (Demonstrating Expertise) Gateway to Seven -- Work with me!

In his terrific book, The Dip, Seth Godin reveals a powerful truth. We all want to work with one person: The person that is the best in the world for the thing we need. He reinforces this excellent point by adding that being the best in the world is seriously underrated. How do you show up as the best in the world? Through Target #4 of your high profit presentation -- demonstrating your expertise. When you demonstrate expertise, your audience will recognize you as exactly who they want to work with--the best in the world.  WHAT YOU’LL LEARN FROM THIS EPISODE: Characteristics of those who really are the best in the world How even small tweaks in language can make a huge impact Two indicators you’re an unrecognized subject matter expert Why unrecognized expertise blocks your fair flow of money Getting fair compensation: what you can learn from posers who make a lot of money If gaining more expertise isn’t the answer, what is? Two keys to getting paid not just fairly, but handsomely Signs you’re in the trap of the unrecognized, uncompensated expert FEATURED ON THE SHOW: Seth Godin is the author of numerous books, including The Dip   High Profit Presentations -- Target #1 (Distilling Your Message) High Profit Presentations -- Target #2 (Highlighting the Happily Ever After) High Profit Presentations -- Target #3 (Clearing the Obstacles) Gateway to Seven -- Work with me!

Is your response rate low? If so, it’s tempting to think that folks don’t want what you’re selling. Or that sales is a numbers game. But that’s not what’s actually going on. All humans are the same. If you’re selling something that one human wants, the rest of them probably want it, too. So why isn’t everyone buying? Your early adopters buy right away. The rest of them need a little more help. There are obstacles between them and making a purchase. This episode explains exactly what the obstacles are, and how a high profit presentation helps to clear them. When you have this, your audience can get what they want--the solution your business offers. And you, in turn, will get what you want. More sales! WHAT YOU’LL LEARN FROM THIS EPISODE: Exactly what prevents your audience from buying (it’s not what you think) How a high profit presentation will clear the obstacles away, so your audience feels free to buy Why I no longer have to sneak into the Ritz-Carlton swimming pool! FEATURED ON THE SHOW: The Ritz-Carlton Hotel -- St. Thomas, U.S. Virgin Islands High Profit Presentations -- Target #1 (Distilling Your Message) High Profit Presentations -- Target #2 (Highlighting Your Happily Ever After) -- Work with me!

In today’s episode, we look at Pierre Cartier’s first attempt to sell the Hope Diamond to Evalyn Walsh McLean. She wanted the diamond. She went to the sales presentation. But she didn’t buy, because he botched the sale. But then what happened? The second time he showed her the diamond, she purchased the stone. How did Pierre Cartier turn a “No” into a “Yes”? With a high profit presentation. Listen to this episode, and learn the exact element of a high profit presentation that Pierre Cartier used to make the sale of a lifetime. WHAT YOU’LL LEARN FROM THIS EPISODE: Why “motivating your buyer” backfires How Pierre Cartier figured out how to sell the Hope Diamond for top dollar Why spinning a web of intrigue about your product doesn’t work Why “What if I told you” presentations repel, even if your product or service works wonders High Profit Presentation Target #2 - Guide buyers into getting what they already want - their happily ever after Shine a light on what you offer, and allow natural desire to bubble to the surface Highlight your customers’ organic desire so they feel drawn towards you Show the contrast between where they are and where they want to be Show them their happily ever after And then get the heck out of the way! FEATURED ON THE SHOW: Wikipedia: History of the Hope Diamond Gateway to Seven -- Work with me!

In the last episode, we talked about why you need a high profit presentation. It’s like a faucet that brings money directly into your business. But how do you change an underperforming presentation into a high profit one? Over the next few episodes, I’ll guide you on the high-profit messaging targets to aim for. But before you can fix any presentation, it’s important to recognize a low profit one in action. Low profit presentations use a lot of words, but they don’t convey a lot of meaning. This can kill your business. Why? If your offer doesn’t feel meaningful, your audience doesn’t see how it will make a difference in their lives. And then, they don’t buy. So how do you convey meaning? The first step is distillation. When your message is distilled, it’s like a martini. Simple, clear, and potent. When your audience consumes it, they feel something. “When meaning goes missing, so does money. Distilling your message lifts the meaning of your offer out of the murky depths and into your message where your customers can see it.” -- Kelly Hollingsworth Is your message murky? Undistilled? Let’s fix that!   WHAT YOU’LL LEARN FROM THIS EPISODE: Why you should avoid low-profit presentations at all costs The definition of “demonetized zone” (and how to get out of one) How to think about meaning, so you make more money Why meaning is crucial: When meaning goes missing, so does money Why I don’t use the term “impact.” (it’s a cliché generally used by struggling entrepreneurs) Why your high-profit presentation doesn’t have to be perfect (conveying, even imperfectly, that “happily ever after” can happen gets you clients) Target #1 - Distilling your marketing message -- Clarity + Simplicity = Potency. Potency in messaging creates PROFITS Potency / Power: How it’s like a martini Makes your audience feel that meaningful, positive change is possible Enhances the most powerful parts of your message Clarifies and simplifies the hero's journey for your customer The formula for potency: Meaningful Transformation expressed with Clarity + Simplicity Clarity brings meaning to the forefront. Removes murkiness, and is like a sunken ship pulled to the surface Simplicity removes the unessential. Cuts away the barnacles, strips away any unnecessary gunk FEATURED ON THE SHOW: Bustle.com: 7 Shocking Facts About Drinking Clear Alcohol Vs. Dark Alcohol Gateway to Seven -- Work with me!

In episode #24, I explained the female earnings plateau. Women’s earnings level off around age 41. Men’s earnings continue to climb until age 53. As a result of this discrepancy, the gender earnings gap widens as we age. In our twenties, women earn about 12% less than men. In our fifties, women make 28% to 31% less than men. How perverse is this result? As women gain industry acumen, experience, and expertise, the earnings gap widens??? This is obviously a problem. But fortunately, there’s an easy solution. The key to busting through any earnings plateau is what I call a High Profit Presentation. When you have a high profit presentation, you get recognized as the expert that you are. You get clients. And you get paid. In this episode, I explain what a high profit presentation is. And how your high-profit presentation fits any opportunity or circumstance. We also discuss why a high profit presentation constantly fills your money bucket. And how to know if you need one. To give you added framework, I even touch a bit on some high profit thinking that is integral to high profit presentations.  “A high profit presentation is like a faucet. When you turn it on, money flows out of it.” Kelly Hollingsworth WHAT YOU’LL LEARN FROM THIS EPISODE: Why a high-profit presentation is the solution to the gender earnings gap How a high-profit presentation helps you bust through your earnings plateau Why a high-profit presentation is like the perfect pencil skirt (hint: it goes anywhere, and it’s perfect everywhere) What happens when you have a high-profit presentation 5 signs that you need a high profit presentation: You’re afraid to dip into your money bucket, because your business feels unreliable You’re relying too heavily on referrals, and losing sight of being in service to your customers You’re dumping a ton of money into advertising You’re attracting bargain hunters who want discounts from you—but who are happy to pay full-price to your competitors You’re making endless presentations but getting only “maybe.” Not money FEATURED ON THE SHOW: St. John Santana Knit pencil skirt Gateway to Seven -- Work with me!

If you listen to this podcast regularly, you know it's my mission to solve the gender earnings gap. But you might not know about the female earnings plateau. It's a big reason the gender earnings gap exists. Women of all ages can experience income stagnation. But around age 41, it kicks into high gear. Your expertise grows. But your earnings do not. This is the female earnings plateau. In this episode, I tackle the stats and psychology behind this plateau. I explain what causes it. Why it’s a problem. And how to reject the lie that “you can’t fix your earnings plateau on your own." Nothing is a problem unless it stands between you and what you want in life... And what I see are so many women who want things in life. -- Kelly Hollingsworth WHAT YOU’LL LEARN FROM THIS EPISODE: How to know if you’re in an earnings plateau Earnings gaps stats that may surprise you Are government and corporate laws, acts and standards the answer? Guidance on why having a big “why” doesn’t matter—and why you should just pursue what you want Even deeper reasons to close your personal earnings gap Traditional solutions that aren’t solutions at all Real solutions to bust through and become a women who makes more money FEATURED ON THE SHOW: Payscale Studies: Payscale.com/data/gender-pay-gap The Guardian: Gender Pay Gaps series Gateway to Seven -- Work with me!

Last time, we answered a listener’s questions about making money vs. saving the world. In this episode, she’s joining me on the show to discuss her questions and concerns. What You’ll Learn: How your unsupervised brain can drain your energy Why energetic drains from an unsupervised brain also drain your MONEY Ways to shift your world view so that you can make more money Featured on the Show: Join the Women Making Money Facebook group. Book a Call with Kelly

In today’s high-profit thinking Q&A, we resolve a listener dilemma: How do you balance making money and saving the world? Which do you do first? The answer is, you do both, because making money is how you save the world. What You’ll Learn: How to decide how you are going to make money Why money isn’t made ratably over time—there’s an incubation period Why making meaningful money usually involves some form of suffering (spoiler alert—the journey through hell helps to ease other human suffering) Why the thought Some people can’t make money prevents the person who is thinking it from making money Why commerce and art are one and the same thing Why you should do the thing you’re called to do (hint—it’s your unique and special way of saving the world) Why there’s no need for entrepreneurs to “give back.” Rather, there’s simply a need to give in ways that end senseless human suffering How to leave the politics to the politicians, and get on with the serious business of doing what you were put on this earth to do Featured on the Show: Join the Women Making Money Facebook group. Book a Call with Kelly Whirley Pop Popcorn Maker

Every instance of underearning has the same underlying cause. It’s a beast that’s running amok through your life and family. Listen to this episode to find out how to identify the beast. How to drive a stake through its heart. And how to bury it in the ground forever. Your whole family will benefit. What You’ll Learn: How to identify the beast that causes underearning Why underearning passes from generation to generation How you can stop it in its tracks. Featured on the Show: Join the Women Making Money Facebook group. Book a Call with Kelly Email Kelly about creating a High Profit Home

Do you dread confrontation? If so, you are at risk for underearning. Why? Because whenever you do things differently, people are going to confront you. Making serious money is a very different thing to do, and people are going to confront you when you do it. What You’ll Learn: The four tests for underearning we’ve discussed so far The fifth test for underearning—dread of confrontation Why people will confront you when you do things differently (including making more money) Why the ability to disregard confrontation will help you make more money Featured on the Show: Join the Women Making Money Facebook group. Book a Call with Kelly

Are you conflicted about getting clients? On the one hand, you want them, but on the other hand, you don’t? That internal conflict puts  a residue on your marketing message. And that residue can repel clients. Listen and learn why this happens, and how you can attract them instead. What You’ll Learn: The three fears that cause a marketing message to warn clients away How fear of autonomy affects your marketing message, in very subtle ways Why it’s so important to resolve internal conflicts about wanting clients vs. not wanting them—it costs you money! Featured on the Show: Join the Women Making Money Facebook group. Book a Call with Kelly Taylor Swift’s album Reputation

If you’re not spreading the word about what you do, you are under earning. This episode will identify the fear that’s causing your silence. And what to do about it. What You’ll Learn: How fear of desire keeps you silent about your business Why business is a skill-based game Why there is no “maybe” in money—you either get the money, or you don’t How skill ends your fear, and your silence, so you can get in the game and spread the word about your business.

We tend to think it’s difficult to get clients. But here's the truth. People who don't get clients scare them away. Listen to this episode to find out if you are doing this, and how to stop. When you know how to get clients, it's easy to stop underearning. What You’ll Learn: The second test for under-earning: Are you warning clients to stay away from you? Why the ability to get clients is the gateway drug to a seven figure income Three signs that you’re scaring clients away

Underearning is a cancer that eats away at your life. Listen and learn what underearning is. What it isn’t What causes it. And how to find out if you have it. What You’ll Learn: The exact definition of underearning The first test to determine if you are underearning—someone is marking up your services and keeping some or most of the money How to apply this test Why underearning is so prevalent among women (we are constantly groomed to do it) How to put a stop to it Featured on the Show: Join the Women Making Money Facebook group. Book a call with Kelly

The art of overcoming objections is both profitable and fun. Listen to this episode and learn how to do it quickly and effectively. What You’ll Learn: Three reasons you should learn to overcome objections The two kinds of objections How to tell when an objection is “legit” (real) or illegitimate (illusory) What to do in the face of a “real” objection How to dissolve illusory objections Featured on the Show: Book a call with Kelly

Feeling distracted? Unfocused? Foggy and Confused? Today’s episode reveals the hidden cause of distraction. It’s NOT your smart phone. It’s actually something you’ve never heard of. Listen and find out what it is. AND what to do about it. What You’ll Learn: The real reason you’re distracted. The problem is “disintegration.” The storytelling principle that fixes it. It’s called “integration.” How to get integrated so you can FOCUS EFFORTLESSLY and START MAKING MONEY. Featured on the Show: Book a Consult Call with Kelly Save the Cat by Blake Snyder

High Profit Thinking is a skill. When you have it, you develop, cultivate and hold beliefs and opinions that are fuel for making money. What You’ll Learn: In this episode, you’ll learn: What is a high-profit thought? Why you should think high-profit thoughts Three low-profit thoughts that are costing you cash How to get help with high-profit thinking Featured on the Show: Fire Tower Ranch Book a Call

Are you hiding your desire to make money? Covering up the expertise that will make you money? If so, it’s time to come out of the closet. When you do, you’ll start making cash.  What You’ll Learn: The two types of money closets Why it’s so easy to stay in a money closet Why coming out of the closet makes you more money. How to come out of the closet without feeling terrified. Featured on the Show: Book a free, invaluable call with Kelly Ken Coleman’s advice to Rachel from Michigan (begins at minute 21) Dave Ramsey The Debt-Free Scream Women Don’t Ask by Linda Babcock and Sara Laschever

Here’s the only business plan you’ll ever need. No matter what business you’re in, these are the seven simple steps to making more money. What You’ll Learn: The seven-step business plan that you need to make more money. The two different kinds of under-earning, and why they fall on gender lines How women and men under-earn in different ways An example of how you can use the skill of coaching to help your audience out of fear so they can get unstuck (and buy your amazing offer) Featured on the Show: My Facebook group for women: Women Making Money Book a diagnostic call with me here Long Term Capital Management Victor Niederhoffer

When is it time to level up? To bust out? It’s time when your outer world feels too small for your inner reality. People may say this is greedy, but it isn’t. This episode explains why. What You’ll Learn: How you’ll know when it’s time to grow Why growth is never greedy What you need to know if you’re waiting for applause Why self-concept is such an important part of entrepreneurship Featured on the Show: Guess Who’s Coming to Dinner

An ultra-simple business is the best. How do you get one? Using my simple three step process to streamline your business. Listen and you’ll learn what it is. What You’ll Learn: My simple three step process to streamline your business. First, you assess the critical path between your clients and success. What must happen to get them to their happy ending? Second, you take a hard look at each of the items on the critical path. Do they really need to be there? Third, you sever yourself from the weight of conventional wisdom, and cut everything that’s unnecessary. You’ll also learn the reason we are afraid to cut things out. We are following imaginary rules. They’re imaginary, because when you break these “rules” the only thing that happens is you make a boatload of money. Featured on the Show: The Critical Path (what it is, and how it will help you streamline your business) Conventional wisdom (and why you don’t need it to make more money)

Delivery Dread. It keeps your business small. It keeps your income low. Listen and find out where it comes from, and how to solve it. What You’ll Learn:   Exactly what “delivery dread” is Where it comes from What to do about it Why delivery is the one place where your business can shine The skill that helps you TOWER above your competition It’s the fifth skill that creates an income that goes to seven figures and beyond Featured on the Show: Cheer with Monica Aldama Kitchen Nightmares with Gordon Ramsay

Sales is not a numbers game. If you have the right bait, the right vibe, and the right skills, your closing rate will skyrocket. What You’ll Learn: Sales is not a numbers game. There are only three reasons you’re not closing at a very high rate. You’re fishing with the wrong bait. You’re scaring the fish away. You don’t know how to get them in the boat. This episode explains how skill solves all of these problems. So you can help your clients get the solution you offer.

How do you dissolve fear? With Skill. Specifically, the skill of HIGH-PROFIT THINKING. It’s different than mindset, and this episode explains why. What You’ll Learn: That fear has a smell—this is backed by science! How to be attractive (in life and in business)—be one of the “cool” people Why we want to be around the cool people How “alpha energy” makes you a cool person The skill that creates alpha energy—HIGH-PROFIT THINKING Why being an “alpha” isn’t just for men. It’s not a gendered term! What it means to be an alpha Three benefits of the alpha state Why the alpha makes more money How mindset is different than HIGH-PROFIT THINKING Why the few people willing to develop the skill of HIGH-PROFIT THINKING make all the money Featured on the Show: Jerry McGuire (my favorite movie)

The second skill for a seven-figure income is SPREADING THE WORD. In this episode, you’ll learn the recipe for a marketing message that goes down like a milkshake. What You’ll Learn: The human brain prefers to receive information in a certain way. This episode will give you a recipe that makes your audience hungry to hear everything you have to say. In this episode you’ll learn: Why it doesn’t matter WHERE you go to attract clients The reason HOW you say something matters a great deal The three ingredients that make your marketing message irresistible Why these three ingredients are critical I’ll also walk you through an example of how I used the three-ingredient recipe in a Facebook Post. Featured on the Show: If you’re a female human, join my Facebook Group Women Making Money. Inside you’ll find instructions to win a Louis Vuitton bag if you post a review of the podcast Band of Brothers: a story about WW II that goes down like a milkshake

If you want to make more money, storytelling will help. Why? Because human nature is human nature. EVERYONE wants a happy ending. If your business creates (and communicates) a happy ending through the power of storytelling, the world will beat a path to your door. What You’ll Learn: The first (and most important) skill for creating a business that goes to seven figures and beyond is the art and science of commercial storytelling. In this episode, you’ll learn: Why storytelling is so important for attracting an audience and creating sales The three layers of story that come together to create the “click” in your business What happens when you create the “click” How to create it faster Why it’s difficult for entrepreneurs to create the “click” on their own How Gateway to Seven will help you create the click in a matter of weeks Featured on the Show: Legally Blonde The Blind Side The Bourne Identity

If you want to make more money, the first thing you must do is invite yourself. Making serious money is a game for those who self-select. This episode explains why, and lays the foundation for an income that goes to seven figures and beyond.

Feeling stuck? If you’re not moving the needle in your business, fear is often the culprit. But you’re not suffering from clichés such as the fear of success, or the fear of failure. Listen to this episode to learn THE FIVE FEARS that are really at work, and what you can do about them.

Napoleon Hill’s famous book THINK AND GROW RICH. It’s the “business bible” of hedge fund managers and other high earning entrepreneurs. This episode takes a look at its teachings. And offers a fresh perspective on how to make its advice more believable in the modern age. Welcome to How to Make More Money, a podcast that helps you get seriously good at the game of making serious money. I'm your host Kelly Hollingsworth, and I'm thrilled you're here today. Today I thought we would dive right in and discuss Napoleon Hill's famous book, THINK AND GROW RICH and specifically how we can take its teachings and dial them up a notch to create a contemporary approach to making money that meets the demands of this century. If you haven't read THINK AND GROW RICH in a while, or if you haven't read it at all, I don't suggest that you rush right out to buy this book. In my mind, there are better books on the subject of making serious money, but I came up in the hedge fund industry and THINK AND GROW RICH is the Bible in that business. So let's not dismiss this book entirely out of hand. Many of the highest earning business owners on the planet love this book for good reasons. So today I'd like to recap it's major lesson and why it's so valuable. And then I'd like to add a few thoughts of my own to help all of us make this idea that you can THINK AND GROW RICH a little more believable and more applicable to a modern business environment. So the book opens with its famous introduction, "Truly, thoughts are things," that's a quote. "Truly, thoughts are things." What Hill means by this is the basic gist of the book that men really do THINK AND GROW RICH. He mentions women too here and there in the book. So women are of course not excluded. If you have a human brain, women included, you can use it to make money. The idea that money is created twice, first in your mind, and then in reality, isn't new, nor is it controversial. We convey this concept in many different ways. Napoleon Hill says, "Thoughts are things, men really do think and grow rich." In the modern parlance of Jack Canfield and others we say, "What you think about you bring about." Brooke Castillo would say that, "Thoughts create results." Ed Seykota says that, "Everyone gets what they want." All of this is super powerful and super helpful, but if you're struggling to make money, believing that money comes from your mind can feel like a tall order. Can you really just think and grow rich? So here, my background is a lawyer is going to come in very handy because the answer is yes, and no. And now I'll explain why. The premise of THINK AND GROW RICH, that thoughts are things and that men truly can think and grow rich is illustrated in the books retelling of the story of Edwin C Barnes. Barnes had a burning desire to become a business associate of the great inventor Thomas Edison. Barnes didn't know Edison and didn't have any money to travel to East Orange, New Jersey where Edison lived, but his desire was definite. So he hopped a freight train, presented himself at Mr. Edison's laboratory and announced he had come to go into business with the inventor. And everyone laughed. And Edison gave him a job sweeping floors for nominal compensation, but Barnes' desire was so great that he kept showing up to the lab and doing the menial work until an opportunity to partner with Edison presented itself. Edison’s salesmen weren't enthusiastic about a new invention called the Edison dictating machine later known as the Ediphone, which is I understand thinks was an early version of the tape recorder. In any case, Barnes was excited about the Ediphone and he stepped in with a plan to distribute this invention. Distribution went well according to THINK AND GROW RICH and Barnes became wealthy as a result of his partnership with Edison. That's the basic story. From it, Hill gleans 13 principles that sum up to the idea that you can use your mind to make serious money. And I first encountered this idea as a 20 something hayseed from Idaho who landed her first real job in the hedge fund industry. Initially, I was a fraud examiner. I flew around the country examining both legit and illegitimate hedge funds, looking for improprieties. And that's where I first began meeting these guys who managed hedge funds and who believed that you can think and grow rich and who worship at the throne of Napoleon Hill. And yes, when I say they were guys, I mean, they were all guys. I'm the only woman I know who has managed her own hedge fund. But in any case, as I said earlier, all these guys think that their Bible is THINK AND GROW RICH. That's the Bible of that business. And at the time when they were sharing this idea with me, I hadn't read the book and it made perfect sense to me that this idea you can think and grow rich would work for hedge fund managers because what do hedge fund managers do? They think about what to do in the market, and if they think that in the right direction, i.e. to buy when the market's going up, or sell when it's going down, then they do make money. They do get rich. It wasn't until later, this made sense to me initially, it wasn't until later when I actually sat down to read the book that I realized that the idea of think and grow rich was intended by the book to apply not just to hedge fund managers, the book was intended to apply to everyone no matter what business you're in. And that was a head scratcher for me. And here's why. If all you're doing is trading financial instruments, it's just you versus the market's direction, what's in your mind is all that matters. However you play it, buy low and sell high or sell high and buy low, trading is a one person game. Yes, of course, there's someone on the other side of the trade who's selling the financial instrument that you're buying or buying what you're selling. But as long as there's liquidity in the market and a stock or a futures exchange between the two of you, you don't have to know them and they don't have to know you for a transaction to occur. They don't even have to agree with you. And they don't agree with you. They're taking the other side of the trade. So it's necessarily the case that they don't agree with you. So if you're a trader and not an entrepreneur, you could live in a cave, never come into contact with another human soul and do just fine making money with your own thinking and a working internet connection. But business is different. When we're talking, not about trading financial instruments, but about selling goods or services in the marketplace, then what happens? We see that business is a two person game. It takes a customer to make money in commerce. So what's in your mind isn't all that matters when you're an entrepreneur. When it takes two to tango, you don't just need to worry about your own thoughts, you need to worry about the other person's thoughts. What your customer is thinking. Does he or she agree to buy from you or not? Do your prospects need or desire what you sell or not? When we think about business as a two person game, as the two person game that it is, this is where it becomes readily apparent that the power of one mind, your own in entrepreneurship, isn't going to be enough to get you there. In commerce, money doesn't come from your mind all by itself, but rather from a meeting of the minds between buyer and seller. Which brings me to a joke I have loved since I saw it in a standup comedians act years, or maybe even decades ago. I don't remember when it was, I don't remember his name, but I'll never forget what he said. He talked about going away to college for his freshman year and when he came home after the first semester, he told his dad, "I've decided to major in philosophy." And he said that "This is of course every parent's dream." His dad thought about this for a minute and then said to his son, "Hmm, why don't you get a double major in communications? Because then you'll be able to think out loud." Why did the dad in the joke recognize the need for his son to be able to think out loud? Because he doesn't want his son living in the basement. The moment the kid says philosophy with no other skills attached to it, the dad gets a vision of the kid living in the basement, perhaps forever. It's instantly and abundantly clear to this father with all his common sense, that mindset isn't enough. If his kid is going to make any money, he can't just think, he has to be able to think out loud and do it well enough for others to want to buy whatever it is that he's selling. This is the missing piece that has always bothered me about the story of Edwin C. Barnes and his partnership with Edison in the book, THINK AND GROW RICH. To be fair, Hill addresses the need for a meeting of the minds in the first few pages of the book. He doesn't use those words, but there's an excerpt in the book in which Hill describes what Edison had to say years after his first encounter with Barnes. Here's a quote. Edison is being quoted here. "He stood there before me looking like an ordinary tramp, but there was something in the expression of his face which conveyed the impression that he was determined to get what he had come after. I had learned from years of experience with men that when a man really desires a thing so deeply that he is willing to stake his entire future on a single turn of the wheel in order to get it, he is sure to win. I gave him the opportunity he asked for because I saw he had made up his mind to stand by until he succeeded. Subsequent events proved that no mistake was made." That's the end of the quote. That's Edison talking. Of this quote by Edison, Napoleon Hill goes on to say, "Just what young Barnes said to Mr. Edison on that occasion was far less important than what he thought. Edison himself said so. It could not have been the young man's appearance, which got him his start in Edison's office, for that was definitely against him. It was what he thought that counted. If the significance of this statement could be conveyed to every person who reads it, there would be no need for the remainder of this book." I agree that it's a significant statement. What Barnes thought when he met Edison, mattered. So let's repeat this part to make sure it sinks in. "Just what young Barnes said to Mr. Edison on that occasion was far less important than that which he thought. Edison himself said so." With this, I wholeheartedly agree. Belief in your product comes first. Without it what you say isn't going to help you much if at all but let's not forget something really important. Edison's quote that I just read to you about his first encounter with Barnes occurred years after their first meeting and years after their fruitful partnership. With the benefit of hindsight, Edison could recast that story and essentially say something along the lines of "Yes, of course I knew I was going to go into business with Barnes. I took one look at him and I knew he meant business." And this is essentially what he did say. And I quote, "When a man really desires a thing so deeply that he is willing to stake his entire future on a single turn of the wheel in order to get it, he is sure to win. I gave him the opportunity that he asked for." But is that what really happened in the famous first encounter between Barnes and Edison? Did Barnes walk into the lab with that thought, I'm going into partnership with Edison, looking like an ordinary tramp and who knows what he actually said and get what he wanted. Was just the thought enough to get it done? No. In that first encounter, the thought was not enough. Barnes did not get the opportunity he asked for. He wanted a partnership with Edison. And in that first encounter, he received not a partnership, but a broom. Today in many businesses around the world, if this encounter happened just as it's described in THINK AND GROW RICH, Barnes would have gotten not a broom, but the boot. So what can we glean from this? What you think matters. Your belief, a product of your brain matters. But why does it matter? If you don't believe, your buyer won't either. So belief is important because it's a big contributor to creating that all important meeting of the minds that is inherent in every commercial transaction. But here's the thing, it's necessary but insufficient. Mindset is what got Barnes in the door. It got him a job sweeping floors. What got him the partnership with Edison was not mindset, but the message of how he was going to distribute the Ediphone. That's what sealed the deal. So it's not just enough to be able to think. You also have to be able to think out loud and to do so well enough that it creates a meeting of the minds between you and your buyer. What I'd like you to take from this is that if you want to make money and you're not trading your own money using stocks or derivatives or doing something else that you can do all by yourself in the comfort of your cave, if you are instead in business and you want some clients to buy the amazing product or service that you're offering, what's in your mind, isn't all that matters. Mindset plus message equals money. That's the formula because people can't read your mind. What people hear in your message is what causes them to buy, not just what's in your mind. So that's what I have for you today my friends. The foundation of our work in the show is going to be based on the formula, mindset plus message equals money. So stay tuned for more on how to do that and thank you for being here today.

Welcome to HOW TO MAKE MORE MONEY, a podcast that helps you get seriously good at the game of making serious money. I’m your host Kelly Hollingsworth, and I’m thrilled you’re here. Before we get started with the episodes, let’s make sure you’re in the right place. If you’ve heard that money is created in your mind before it appears in your bank account, and you want to know how to make that happen for yourself, stay tuned. If you secretly wonder if mindset is enough--can you really just “think and grow rich?”--then this podcast is especially for you. Hit subscribe on your phone right now, because the truth is, there are situations where making serious money requires more than mindset. We’re going to cover that, too. In this show, we’re going to cover everything it takes to make serious money. And now, you may be asking yourself, who am I to talk about what it takes to make serious money? We're going to get to know each other over time, you and I, but for now suffice it to say that I grew up in poverty. I started my first business when I was 13 years old, cleaning houses for $5 an hour. And I became one of the few women in the world to manage her own hedge fund. On the road from housekeeper to hedge fund manager, I cracked the earnings code, my friends, and not just for me. I’ve mentored and advised some of the highest-earning business owners on the planet. I’ve coached entrepreneurs on five continents on how to make more money. My clients routinely double, triple, or quadruple their earnings when they acquire and apply the skills you’re going to learn in this podcast. It’s everything I know about making more money, and I can’t wait to share it with you. So if getting seriously good at the game of making serious money is what you want to do, then you’re in the right place. All you have to do now is hit subscribe on your phone, and let the games begin.