Secrets of the Millionaire Mind. Wealth File 4

Harv gives you the law of income which states,

you will be paid in direct proportion to the value

you deliver in the marketplace.

Value in the marketplace is determined by supply,

demand, quality and quantity.

How many people do you serve? And how good is your service?

How important is the result you deliver? Are you solving an aspirin problem or a vitamin C problem?

A business that solves an "aspirin problem" is one that addresses urgent, painful issues that customers need fixed right away, like a leaky roof or a broken phone. People are actively looking for a solution and are willing to pay to solve their immediate problem. On the other hand, a business that solves a "vitamin C problem" focuses on long-term benefits or improvements, like offering a gym membership or healthy snacks. Customers might not feel an immediate need for it, but they know it’s good for them in the long run.

Aspirin problems are problems for which the client definitely, absolutely, positively must get a solution. The problem is too big to ignore. If it goes unsolved, there'll be hell to pay. They want and need a solution. They want it now. And they will pay any price for the solution. If they don't solve the problem now they will die. Or maybe not so dramatic, but it is absolutely imperative that they solve the problem. Think of yourself when you have a severe headache - everything stops - you can't function until you get your aspirin.

The "aspirin problem" business model tends to be better in terms of immediate demand and quicker sales because it solves urgent, pressing issues that people are motivated to fix quickly. Customers are often willing to pay more for solutions to these problems because the pain or inconvenience is high.

On the other hand, a "vitamin C problem" business can build long-term, loyal customers, but it usually requires more effort to convince people of the value. The demand isn't as immediate, so sales might take longer to build.

Vitamin C problems are a little less dramatic. The consequences of not solving vitamin C problems are mild. Nobody's going to die. Vitamin C problems are important, but they're not life and death. In an economic downturn, vitamin C problems are the first to experience budget cuts.

Ultimately, the better model depends on your goals. If you want fast growth and immediate cash flow, solving an aspirin problem might be better. But if you're aiming for sustainability and long-term relationships, the vitamin C model could be more rewarding. And if you're up to it, you can combine both models and create a best of both worlds kind of business. That's what we mean when we talk about thinking big. We mean put aside your limitations and decide exactly what you want.

Harv says most people choose to play small because of fear, or they feel unworthy of success. Refer back to the exercise we did in the previous chapter. What negative feelings come up for you when you think about being rich? These associations will determine whether you play big or small.

So the cure for this is to think beyond yourself. What's your mission in this world? What's your purpose? What's your contribution to the world? What value do you add to others?  The bigger the value, the more likely you are to succeed. Remember though, you don't determine the value. The marketplace does. Somebody defined an entrepreneur as as someone who solves problems for profit. Which means, the bigger the problem you solve, the more money you make.

Harv issues a challenge: if you're not gonna solve the problems you are uniquely skilled and gifted to solve, then who will? If you are equipped to solve the problems and you don't, then you are selfish. How would you feel if your child was sick and dying, and the doctor had medication, but refused to offer your only child the medication she needs? You would probably sue the doctor, wouldn't you? Now why are you selfish with your gifts? Why don't you offer your services to the people who could benefit from your talents and expertise?

He quotes Marianne Williamson who said, "Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won't feel insecure around you."

Because in the end, small thinking and small actions lead to being broke and unfulfilled. Bigthinking and big actions lead to having both money and meaning.

And he closes the chapter with another powerful exercise for you to start thinking big and taking bigger actions.