*4 mins read*
This weekend I went on my very first business seminar on business/personal development by Kane Minkus of Industry RockStar. This business coaching seminar aims to helps budding Entrepreneurs walk through some of the business hurdles around branding, sales and marketing.
The two and a half day session was jam packed with information and networking with other business owners. Kane had great stage presence and was very relatable , given he has started over 30 businesses and brought 5 of them to over million dollars in revenue. I’ve met art directors, entrepreneurs who have started SaaS businesses and Qigong masters in the seminar.
I’ll quote an extract from his book “Industry Rockstar: Become A Highly Paid, High Profile Person In Your Industry” :
MYTH: The more degrees you have, the more money you make.
There are two types of education: traditional education (university, college and so on) and results-based education. Results-based education is an education that thrives on the amount of real results that you have from that education. Examples of this would be any workshop, seminar, training, or training with coaches and consultants whose job is to have you achieve goals, outcomes, intents and results.
Traditional education is great – but it only gets you so far before you require other skills, especially when it comes to succeeding in business. The most important thing you can have to accelerate your results is to surround yourself with people who are genuinely successful in the fields you want to play in – and play at the top.
One very great secret we were let in on early on, from a top executive mentor of ours, was: “Always partner with best in class”. If you want to be successful you need to be around those that are doing it and are able to teach it. This combination is important.
Often the most highly-paid people in the world are actually sales people, not academics. I have stopped being surprised to find out how many successful people have no degrees, struggled in school or have no formal education in the area in which they are working.
However, they have the most important form of experience: logged hours on their passion, self-education, and results with real customers and clients.
There is actually no official connection between being book-smart and how much money you can make in business. In fact, some of the smartest and most successful people in the world dropped out of school or made their own way from a traditional education.
Traditional education is great, but alone, it is not enough. I am an education junkie. I still research, learn, seek out mentors and attend workshop after workshop, because I love to learn and apply what I learn.
But I also know it is in the application in the real world where it all makes the difference. (I realize that for some technical professions – like medicine, etc. – that traditional education is essential. I’m merely talking about the success rate of the business).
What “Success” is, is determined by each individual of course. However, a business is in business for a profit – so a more successful business creates more profit. It’s like saying a surgeon is a surgeon to save lives – therefore a more successful surgeon will save more lives.
I have coached or trained some of the most brilliant people on Earth (some of which you would know by name) who were financially struggling, broke, or frustrated that they weren’t making more money considering how smart they were… which is further proof that there is no connection between wealth and smarts. It might seem that way, because it would be logical that the more you educate yourself the more money you make. However, in my years of working with people all over the planet, I have met super smart, broke people, super uneducated, rich people and everyone in between.
We do draw a correlation between willingness to take emotional risks and wealth, however.
Successful people follow the new laws, mindset and techniques of business. They are willing to take the emotional risks necessary to succeed.
Do we encouragetraditional education? Of course! Being educated can’t hurt you.
However, if you think that being more educated will equal more money, then you are someone that has bought into the traditional mindset, and you will only be able to use that when getting a higher paid job.
The downside is that you will always have aceiling on how much someone is willing to pay you to work for their company. This book is not about how to be smarter at what you do; this book is about how to build the structure around your already smart-enough brain so you have a money machine that sells your smartness. Being smart with no business structure is like pouring water through your hand – it will all seep out onto the floor.
Pretty interesting hur?
It was also my first time being introduced to Neuro-linguistic programming (NLP) – which is an approach to communication, personal development, and psychotherapy created by Richard Bandler and John Grinder in California, United States in the 1970s.
NLP is basically a connection between the neurological processes (“neuro”), language (“linguistic”) and behavioral patterns learned through experience (“programming”) and that these can be changed to achieve specific goals in life.
On a side note, I’ve been thinking over the last couple of months I’ve actually met up with quite a number of entrepreneurs, sharing my journey and information on how I ran my business and it seems like I have a passion to meet and share my wisdom of people. The field of coaching/consulting/mentoring definitely has some appeal to me. It certainly sounds like this is a service business that could benefit people. *lightbulb moment*
Well, the big takeaway apart from the content of the seminar is to take action, starting today.
I have discovered a little bit more about myself. What about you? 🙂