Category Archives: prosperity consciousness

The Future of Entrepreneurial Businesses

Stewart Borie, a entrepreneurial management consultant and colleague of mine, posed a question on LinkedIn and my answer is below.  His question reads:

What is the trend in entreprenership? Will it explode or will it stay level?

I have been an Entrepreneur and Advisor for over two decades, with a passion for Entrepreneurship and an MBA from Wharton in Entrepreneurial Management. I believe there is the potential for a “perfect storm” of Entrepreneurship in the coming decade. The recession, coupled with an aging population with little savings, a new generation of social networking and new generations of technology enhancing the “flattening” of the world and business, emerging economies such as China and India; all point to a new frontier of entrepreneurship, with waves of new entrepreneurs emerging of all ages. Is it coming? Where will it come from? What will it look like?

His original question can be found here:

http://www.linkedin.com/answers?viewQuestion=&answerLevel=fullAnswer&questionID=542670&askerID=5459625&goback=.hom.mid_1409998237

And here is my answer…

Stewart, I do agree with you that a perfect storm COULD be created. The trends do seem to be going in that direction. And, while the last comment about “consultants drowning people” may be a bit overly pessimistic, the other comment about the percentage of failures and stiff competition is quite accurate.

What I feel we need to remember as we look to the future is the larger cycles that we are experiencing on earth. Check out the DVD called The Great Year, as it talks about the 24,000 year cycles on this planet.

We are, according to the ancient sages and current wise people, on an upward cycle in general. However, what they also say is that we are just out of one of the lower periods.

So, we have a long way to go before our entire planetary consciousness is made up of largely good people helping one another. The entrepreneurial spirit that can and does help people is what I am working to support. Those that see a need and set up a system to fulfill that need can succeed, especially when their deepest motive is to truly be of service, to LOVE others and receive thanks in doing so.

I do believe that you are right, Stewart, there will be an upward growth in entrepreneurial business ATTEMPTS. The main question is, are these entrepreneurs aware of their need to get as much support as possible to beat the odds and approach their market with strength.

And, as we know, there is strength in numbers. As Keith Ferrazzi says, you need a team, a few people who you can trust completely and who “have your back,” and you need a network of advisors who you meet with regularly. You don’t want to go it alone. In fact, it’s almost impossible to succeed by yourself. Micro enterprises do have advantages over big businesses that allow them to change faster.

And, certainly we are experiencing a LOT of changes, faster than ever before, as fewer and fewer people are trusting traditional forms of advertising. Neilsen did a Global Online Consumer Survey in July of 2009 that shows that people are most likely to trust the advice of people they know, and secondarily trust the opinion of consumers who post comments online, especially negative ones.

So, relationship marketing, one-to-one advice, social media, and word of mouth marketing are going to dominate the most successful company’s marketing strategy in the next decade no doubt. Any relationship based on loving service will ultimately grow the brand reputation and thus the revenue. Love conquers all… including prospective clients/customers!

I think, on the flipside, there is in general more FEAR dominant in the world consciousness as a result of the financial melting we are seeing at all levels. It is this fear that could freeze the individuals who would normally take risks and invest money and time.

So, if there is going to be an explosion in entrepreneurship that is SUCCESSFULLY creating new business growth, it will be a sign that love and not fear is dominant in the majority of people’s consciousness.

And, I feel there will be a growth in social entrepreneurship, where people focus on those activities that are most in harmony with other people and the planet, recognizing the divinity within the human heart as well as in nature.  Those businesses that are in line with our upward evolution in consciousness will be those that are led by and have operating principles that are also in harmony.

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Business Coaching – Zero Risk Offer to Increase Your Net Profits

Hi. I’m Andrew Barden, Philanthropic Entrepreneur.


I can help you make more money in your small business at no risk to you. I’ve helped literally thousands small business owners from around the world make more money through improving their marketing strategies and execution of their marketing campaigns.


I don’t charged upfront fees. I work on a contingency contract. Simply put you only pay me a small portion of your increase in net profits. There is never any risk for you when working with me. To learn more about my philosophy and why I call myself a philanthropic entrepreneur, visit http://www.AndrewBarden.com.


The greatest resource of the entrepreneur is also his or her most scarce resource.  It is not money. The scarcest resource you have is your time. If you are willing to invest 30 minutes of your time in your business, I will be willing to do the same.  This could simply be my gift to you or this could be the start of a great business relationship.  When you sign-up for a 30-minute complementary no-obligation consultation, I will help you to assess what might be stopping you from making more money in your particular business. Often it takes an objective third party to diagnose what’s really going on in your business.


Now, given tough economic times and the likelihood that your sales have already been slipping for quite some time,  isn’t now the best time to take action? Isn’t now the best time to consult with experts who have helped thousands of small business owners apply proven principles and strategies in their small business?


I also invite you to connect with me on Linkin.com. Go to http://www.linkedin.com/in/andrewbarden and invite me to connect. You will see there my professional profile that includes testimonials from small business owners and colleagues, other experts who have witnessed the results I can get for small business owners.


I also invite you to follow me on this blow, read the posts, and sign up to be alerted to new posts.


Finally, I invite you to invest 30 minutes in your small business marketing strategy development. Again, there is no risk to you, as these 30 minutes will be a true conversation and focus on showing you immediate ways to improve your marketing strategy, both online and off-line.


During these 30 minutes I don’t hold anything back. I give you my best, with the hopes that you and I might eventually develop a relationship in which I work with you regularly on a contingency contract. I would normally charge $150 for such a diagnostic. But, to start out any business relationship I practice applying the Law of Reciprocity, I “show up giving.” There are numerous Universal Laws that I’ll help you apply.


There are typically two areas that most small business owners neglect.


1. The business owner’s own mindset: developing prosperity consciousness is the first and foremost responsibility of the business owner. Visits my website at http://www.andrewbarden.com where, as part of my philanthropic entrepreneurial mission, I have made available hundreds of files–including pdfs, audio, and video–under the page called “free prosperity downloads.”


2. The psychological profile of the business’ IDEAL client. Without knowing how your ideal client makes decisions you will not know how to most effectively market and sell to your ideal clients. Not knowing who your ideal client is will make its much more difficult to grow your net profits as you will service clients who are not ideal. In general and ideal client is one who is easy to find easy to reach with a message, response to that message, takes action, is easy to sell to, buys more than your average clients, does business regularly would you, and refers all of his or her family and friends and associates to you.


Applying the 80/20 principle, we know that 20% of your revenue comes from 80% of your clients and 80% of the revenue comes from 20% of your clients. Wouldn’t you like to replace the 80% of your less than ideal clients with the 20% of ideal clients less quadrupling your income, basically making more money in less time. This is the power of developing an ideal clients psychological profile otherwise known as psychographics.


Demographics are the first step and also the easiest step in developing a marketing campaign. Too often small business owners stop at a demographic profile by a list and send off a postcard or flyer or brochure. They then sit and wait for the phone to ring, and unfortunately, little to nothing happens. Have you ever found yourself in that situation?


There’s a simple solution that unfortunately most small business owners don’t know. In order for even an ideal client to respond to a marketing message they need to hear the message in veriest formats from 10 to 12 times before they will take action and contact you. This means that if you send out 5000 postcards you don’t send them to 5000 people once. Instead, you send to 500 people 10 postcards with a similar branding theme yet different messages. You’ll have a similar cost as postage is by far the greatest expense. And you will have a far greater response rate and a much greater return on your investment in the end I seen 400% ROIs in direct mail campaigns.


The other crucial principle most small business owners neglect to apply correctly is generically termed relationship marketing. Roughly 85% of all small businesses in the United States are service based. Even if you are also selling products they’re typically is a decision-making process that requires a live person to interact with the buyer. The sales process typically looks like this:


awareness –> like –> trust –> buy –> repeat buy –> refer


So, in the beginning of the relationship you are simply making your prospect aware of your offer. Your next step is essentially to get them to like you. People do business with those that they like, just like people choose to associate with friends for which they have some affinity.


Once you begin to like someone, notice that they care about your welfare, and notice that they are competence in their particular industry, you can begin to trust them and consider doing business with them. At that point you as the seller of your services would begin to talk about the benefits of doing business with you versus other people, and the various advantages and features of your product or service.


Unfortunately, most people sell or create promotions that focus on price, discounts, features, and forgot to establish an awareness, affinity, and trust in the relationship. This is why many advertisements and other direct mail or e-mail campaigns simply do not produce a significant return and often even no return… in fact it is often poor marketing strategy and field campaigns that is the direct cause of small businesses going out of business.


You may have heard from the Small Business Administration how well over two thirds of all small businesses failed in the first four years. And even greater numbers fail in subsequent years. Without effective marketing producing strong returns on your investment of money and time and the sales process that is engineered specifically to cater to your ideal clients preferences, wants, and hot buttons, you’re more likely to fail than to succeed in building your small business.


Growing your business is simple, but, it’s simply not that easy. Why is it not that easy? It is not that easy because most small business owners neglect to understand their own mindset and the mindset of their ideal client. If you work with a business coach who can help you develop prosperity consciousness as well as the psychological profile of your ideal clients your likelihood of succeeding in your business venture increases exponentially.


There are well over a dozen small business coaching companies whose fees range from 3000 upwards to 25,000 or more. Their sales pitch essentially reads like give us your money and maybe will be able to help you. Does that sound like an inviting offer? Of course not.


The most irresistible offer for small business owner who is looking for clarity and confidence in their marketing strategy and campaign execution is to find a business coach who will instead of acting like a vendor will act like a partner. A partner in your business would, like you, be willing to invest their time or what we call sweat equity, at their own risk. Your partner, would then sharer in the net profits with you.


When you hire a business coach who works on a contingency contract you are essentially securing a partner who makes a small portion of your net profits that they help you to create. Sometimes he can happen quickly. Sometimes it may take a few months. But in the end there is an equal investment of time. Doesn’t that sound like an irresistible offer? Doesn’t that sound like the kind of relationship you want to have with your business coach?


In uncertain economic times business owners who will survive will take much more calculated risks. They will do their homework in order to make decisions with clarity and confidence. A business coach who can walk you through a proven system that has enabled literally thousands of small business owners to achieve strong ROIs in various industries in numerous cultures and economic conditions around the world is hands down one of the best partners a business owner would want to have.


Invite me to start that relationship by signing up for an initial complementary 30 minute business diagnostic session. At the end of the conversation you and I will both make a decision to move onto the next step or not. I serve over 70 clients every month as of March 2009, most of them in Los Angeles County. However I’m willing to add a few more. So long as you are fluent in English, and are passionate about growing your small business revenues and willing to commit time and resources to achieve your business goals and we might be a good fit.


I look forward to speaking with you soon. If you are eager to start a relationship feel free to contact me via e-mail at Andrew@AndrewBarden.com or call my toll-free cell phone at 1 – 866-339-4619. This number, again, rings directly to my personal cell phone, so please only call during business hours Pacific Standard Time, from 9am to 6pm, Monday through Friday.


To your success,


Andrew Barden
Founder, Philanthropic Entrepreneur
http://www.AndrewBarden.com

1-866-339-4619

Weathering the Storm – What to do to Stay on Top in a Down Economy

Weathering the Storm -What to do to Stay on Top in a Down Economy

By Robert Imbriale,
The Motivational Marketer

Business owners from coast to coast are worried, scared, and some are even considering closing up shop because of what they see as uncertain times ahead. While it’s true that there will be many business closings ahead, your business doesn’t have to be one of them.

What’s behind much of the fear and worry is the constant barrage of bad news about industry giants failing at an alarming rate. And, it’s not just the what’s in the news. Our conversations have also turned negative about anything related to the economy.

What has happened to many business owners is that they have taken what they have heard or read about in the news and given it more attention than it truly deserves. That has created doubt, which soon becomes fear, and not long after that, you’ll find these same business owners throwing in the towel and shutting their doors forever.

And then there’s the trickle-down effect to consider. When one business fails, other business owners then begin to look at that failure to support their beliefs that things are as bad as they are hearing about in the news.

If your business is going to succeed, the first thing you need to do is shift your attention away from all of this and instead focus on things that are indeed more positive. I’m not suggesting that you ignore it all, but try to at least get a new perspective on it all.

For instance, yesterday, I was at the local packing and shipping store where business was booming. In fact, the owner told me he was having a great holiday season, despite what the fact that if you believe what you’re hearing about in the news would make you think this could simply not be possible.
I’m sure that you won’t see a story about this business in the news, either, so don’t go looking for it.

Now, I’m not trying to blame the news media for all our troubles. These companies are nothing more than businesses that respond to what their customers buy. We buy bad news hundreds of times more than good news. If we bought only good news, that what you’d see more of. So it’s not entirely the media’s fault.

Closer to home, I started to look for signs that things weren’t quite as bad as I’d heard. Sure enough, there is the landscape crew out on my front lawn, so I asked him how his business was doing. It was slower, but he was still getting big landscaping jobs, one totaling more than $125,000.00!
In my own business, I’m seeing more and more clients contacting me for my executive level coaching services because they are looking to make this coming year better than the previous one!

“What?” People actually not looking at things from a negative perspective? Well, they’ll see, you think to yourself because you “know” they just can’t be right.

Then you look a little deeper at what’s really happening right now and what you begin to see is that this is the perfect time to be positive about the future.

Think about it this way. When the economy was bubbling hot, houses became almost unaffordable as prices rose to record-setting highs. Yes, cheap money was indeed behind all of that, but had it continued to go the way it was going, in just a decade from now, the average home in this country might have topped a million dollars!

Things are simply adjusting and getting back to more reasonable levels. And, as in any adjustment period, it’s going to be a little uncomfortable for a little while. And, there is a lot you can do right now to take advantage of all the changes.

Here are some suggestions for you.

First, go out of your way to find stories of success. Find people who are now talking about better times ahead instead of hanging around people who can only parrot what they hear in the news.

Then, start creating your plans for this next year by putting down on paper everything you wish to have and do in the next 12 months. Go ahead and be bold here because big dreams are what create big results.

Next, create, find, invent a way to get yourself around people who are positive, upbeat, and who are seeing all the opportunities that are now being created that could never have been if things had stayed the way they were. Engage in conversations of success and what you want your business to do, and what you’re planning for the next year.

This is where a good coach can be extremely valuable to you and your business, and it’s a worthwhile investment if you simply can’t find anybody to motivate you and hold you accountable.

If you do these simple steps, what you’ll find is that things aren’t quite as bad as they are made to appear, and in fact, there are many places that are thriving right now.

Think about this. Each and every day billions and billions of dollars changes hands on the Internet. That number may be lower than it once was when it broke all previous records, but it has not stopped! It’s just lower, and nothing more.

Your job is simply to find new and innovative ways to tap into the money stream that is flowing and will continue to flow, no matter how bad things may get out there.

Realize that millionaires are made in good times and bad. It’s not about what’s going on out there as much as it is about how you think about and what you do about it.

Your success comes from seeing things that other people can’t or won’t see. Every smart and successful business owner sees things as they want them to be rather than as they are.

They put their focus on what they are trying to create instead of what they are getting because they realize that what they are getting right now is simply a result of what they did, or failed to do, in the past. What they get tomorrow and beyond will be the result of what they do today and everyday going forward.

In a nutshell, you can, and you should be planning for a great year ahead. You should be thinking about how you want your business to look a year from today, and start working on those plans right now.

If you’ll do these things, and I mean really do them, instead of just giving them lip service, I know you’ll be pleased with the results you’ll get in the coming year, regardless of how bad the media tells us things are out there.

Remember, drama is what sells newspapers, not stories of success. Go ahead and buck the trend, plan ahead, and create a business that will stand the test of what’s ahead… and cash in as all your competitor’s go out of business because they got scared and their customers now start buying from you!

Think about it. You can either struggle in the coming year, or you can thrive, and it’s really all up to you.

About the Author

Robert Imbriale is the author of the best-selling book, Motivational Marketing. He is a successful business coach, and seminar leader who has helped hundreds of thousands of business owners create bigger, more successful businesses, and he can help you too. Tell him what your biggest challenge is with your business right now! Go to http://www.AskRobertImbriale.com If you would like to have Robert help you with your business, you can reach him at 1-800-541-3816 or at http://www.RobertImbriale.com

Read Outliers: The Story of Success, by Malcom Gladwell

Andrew is reading Outliers, The Story of Success, by Malcolm Gladwell

Psychological Factors in Achieving Professional Success


Professional success is all about psychology.

1) Most professionals, whether business owners or executives managing a team, need to be aware of their own psychology, how their mindset affects their effectiveness in all aspects in their business. 98% of our processing and behaviors are governed by the subconscious mind. In order to not simply react habitually to experiences throughout the day, professionals need to take the time each day to work on developing an optimal mindset for business success.

2) If you are in a service business, and 85% of small businesses in the US are service businesses, then you absolutely must have a thorough understanding of the psychology of your current and potential clients. I’ve noticed that most sales people, marketing strategists, and business owners have NOT taken the time to develop the imaginative skills required to truly place oneself in the mind of their clients. Once you can do this, you’re business will grow substantially. Why? All of your marketing messages will hit home and activate prospects. All of your sales strategies will include hot buttons that trigger the right response from prospective clients. And you’ll both retain and be able to upsell to your client base because they feel that you really truly “get” them. When you consistently solve someone problems exactly as they need them to be solved, you will keep loyal clients for life, who will naturally refer business to you.

3) Finally, as small businesses grow, especially from solopreneurs to 5 or 10 employees, it will be crucial that you choose partners and employees very carefully. Then, once you feel you’ve found the right people with the right mindset, you’ll need to treat them like family. Remember that people join companies but leave bosses. How you treat people when you let them go will also affect people that you retain. Know that the emotional life of your partners and employees is often more important that you realize. Ask yourself how you’d address issues with your brother or sister, and then treat your partners or employees like that. And, the Golden Rule can be aptly refined to the Platinum Rule: treat others as THEY would like to be treated. In order to do that, you need to develop a psychological sense of how they would prefer to be treated. Sometimes you can use your imagination and be accurate. Sometimes it’s best to simply ask them. Would you want to be respected and appreciated in a similar way? When you apply the Platinum rule to all of your relationships, be they partners, employees, or clients, you will have a thriving business. You are activating the Law of Reciprocity. Be of service to everyone in your life and they, directly or indirectly, will be of service in return.

If you refuse to see the world from the perspective of others, you will find that relationships don’t serve your goals. When you help other people achieve everything they want, they will help you achieve everything you want. Develop these psychological talents and you’ll find success chases after you instead of you chasing after it.

The Money Speech – an old classic worth reading

“The ‘Money’ Speech” – From ‘Atlas Shrugged’ by Ayn Rand

atlas shrugged cover

I just became familiar with one of Ayn Rand books, “Atlas Shrugged.” particularly the famous “money speech” by Francisco. It is a classic that is worth posting here.

You may have to read it a few times to really understand it. And once you really get it, it can save you a lot of money in financial education and personal development in understanding about abundance and prosperity. If you haven’t yet downloaded all the free PDFs, Word docs, audio, and videos on developing Prosperity Consciousness on my http://www.PhilanthropicEntrepreneur.com website, feel free to go there after you read the below and learn how your mindset often matters more than your marketing when looking to start or grow your small business.

This book will gain popularity in the next year due to several factors. Alan Greenspan, former chairman of the Federal Reserve Board took this book to heart and writes about the influence it had in his life when he read it in the early stages of his professional life. Likely by 2010, a movie is coming out in the theaters and Angelina Jolie is one of the main characters in the movie. The book turns 50 years this year.

Here below is the classic ‘Money’ speech from the book:

Francisco’s ‘Money’ Speech from -Atlas Shrugged-

…..
Original source: Part II, Section 2, pages 382-387 of the paperback (35th anniversary edition)
…..
Rearden heard Bertram Scudder, outside the group, say to a girl who made some sound of indignation, “Don’t let him disturb you. You know, money is the root of all evil – and he’s the typical product of money.”

Rearden did not think that Francisco could have heard it, but he saw Francisco turning to them with a gravely courteous smile.

“So you think that money is the root of all evil?” said Francisco d’Aconia. “Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?

“When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears nor all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor – your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money. Is this what you consider evil?

“Have you ever looked for the root of production? Take a look at an electric generator and dare tell yourself that it was created by the muscular effort of unthinking brutes. Try to grow a seed of wheat without the knowledge left to you by men who had to discover it for the first time. Try to obtain your food by means of nothing but physical motions – and you’ll learn that man’s mind is the root of all the goods produced and of all the wealth that has ever existed on earth.

“But you say that money is made by the strong at the expense of the weak? What strength do you mean? It is not the strength of guns or muscles. Wealth is the product of man’s capacity to think. Then is money made by the man who invents a motor at the expense of those who did not invent it? Is money made by the intelligent at the expense of the fools? By the able at the expense of the incompetent? By the ambitious at the expense of the lazy? Money is made – before it can be looted or mooched – made by the effort of every honest man, each to the extent of his ability. An honest man is one who knows that he can’t consume more than he has produced.

“To trade by means of money is the code of the men of good will. Money rests on the axiom that every man is the owner of his mind and his effort. Money allows no power to prescribe the value of your effort except by the voluntary choice of the man who is willing to trade you his effort in return. Money permits you to obtain for your goods and your labor that which they are worth to the men who buy them, but no more. Money permits no deals except those to mutual benefit by the unforced judgment of the traders. Money demands of you the recognition that men must work for their own benefit, not for their own injury, for their gain, not their loss – the recognition that they are not beasts of burden, born to carry the weight of your misery – that you must offer them values, not wounds – that the common bond among men is not the exchange of suffering, but the exchange of goods. Money demands that you sell, not your weakness to men’s stupidity, but your talent to their reason; it demands that you buy, not the shoddiest they offer, but the best your money can find. And when men live by trade – with reason, not force, as their final arbiter – it is the best product that wins, the best performance, then man of best judgment and highest ability – and the degree of a man’s productiveness is the degree of his reward. This is the code of existence whose tool and symbol is money. Is this what you consider evil?

“But money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. It will give you the means for the satisfaction of your desires, but it will not provide you with desires. Money is the scourge of the men who attempt to reverse the law of causality – the men who seek to replace the mind by seizing the products of the mind.

“Money will not purchase happiness for the man who has no concept of what he wants; money will not give him a code of values, if he’s evaded the knowledge of what to value, and it will not provide him with a purpose, if he’s evaded the choice of what to seek. Money will not buy intelligence for the fool, or admiration for the coward, or respect for the incompetent. The man who attempts to purchase the brains of his superiors to serve him, with his money replacing his judgment, ends up by becoming the victim of his inferiors. The men of intelligence desert him, but the cheats and the frauds come flocking to him, drawn by a law which he has not discovered: that no man may be smaller than his money. Is this the reason why you call it evil?

“Only the man who does not need it, is fit to inherit wealth – the man who would make his own fortune no matter where he started. If an heir is equal to his money, it serves him; if not, it destroys him. But you look on and you cry that money corrupted him. Did it? Or did he corrupt his money? Do not envy a worthless heir; his wealth is not yours and you would have done no better with it. Do not think that it should have been distributed among you; loading the world with fifty parasites instead of one would not bring back the dead virtue which was the fortune. Money is a living power that dies without its root. Money will not serve that mind that cannot match it. Is this the reason why you call it evil?

“Money is your means of survival. The verdict which you pronounce upon the source of your livelihood is the verdict you pronounce upon your life. If the source is corrupt, you have damned your own existence. Did you get your money by fraud? By pandering to men’s vices or men’s stupidity? By catering to fools, in the hope of getting more than your ability deserves? By lowering your standards? By doing work you despise for purchasers you scorn? If so, then your money will not give you a moment’s or a penny’s worth of joy. Then all the things you buy will become, not a tribute to you, but a reproach; not an achievement, but a reminder of shame. Then you’ll scream that money is evil. Evil, because it would not pinch-hit for your self-respect? Evil, because it would not let you enjoy your depravity? Is this the root of your hatred of money?

“Money will always remain an effect and refuse to replace you as the cause. Money is the product of virtue, but it will not give you virtue and it will not redeem your vices. Money will not give you the unearned, neither in matter nor in spirit. Is this the root of your hatred of money?

“Or did you say it’s the love of money that’s the root of all evil? To love a thing is to know and love its nature. To love money is to know and love the fact that money is the creation of the best power within you, and your passkey to trade your effort for the effort of the best among men. It’s the person who would sell his soul for a nickel, who is the loudest in proclaiming his hatred of money – and he has good reason to hate it. The lovers of money are willing to work for it. They know they are able to deserve it.

“Let me give you a tip on a clue to men’s characters: the man who damns money has obtained it dishonorably; the man who respects it has earned it.

“Run for your life from any man who tells you that money is evil. That sentence is the leper’s bell of an approaching looter. So long as men live together on earth and need means to deal with one another – their only substitute, if they abandon money, is the muzzle of a gun.

“But money demands of you the highest virtues, if you wish to make it or to keep it. Men who have no courage, pride, or self-esteem, men who have no moral sense of their right to their money and are not willing to defend it as they defend their life, men who apologize for being rich – will not remain rich for long. They are the natural bait for the swarms of looters that stay under rocks for centuries, but come crawling out at the first smell of a man who begs to be forgiven for the guilt of owning wealth. They will hasten to relieve him of the guilt – and of his life, as he deserves.

“Then you will see the rise of the double standard – the men who live by force, yet count on those who live by trade to create the value of their looted money – the men who are the hitchhikers of virtue. In a moral society, these are the criminals, and the statutes are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law – men who use force to seize the wealth of disarmed victims – then money becomes its creators’ avenger. Such looters believe it safe to rob defenseless men, once they’ve passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

“Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed. Money is so noble a medium that it does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot.

“Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it becomes, marked: ‘Account overdrawn.’

“When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and lose their lives for the purpose of becoming the fodder of the immoral. Do not expect them to produce, when production is punished and looting rewarded. Do not ask, ‘Who is destroying the world?’ You are.

“You stand in the midst of the greatest achievements of the greatest productive civilization and you wonder why it’s crumbling around you, while you’re damning its life-blood – money. You look upon money as the savages did before you, and you wonder why the jungle is creeping back to the edge of your cities. Throughout men’s history, money was always seized by looters of one brand or another, but whose method remained the same: to seize wealth by force and to keep the producers bound, demeaned, defamed, deprived of honor. That phrase about the evil of money, which you mouth with such righteous recklessness, comes from a time when wealth was produced by the labor of slaves – slaves who repeated the motions once discovered by somebody’s mind and left unimproved for centuries. So long as production was ruled by force, and wealth was obtained by conquest, there was little to conquer. Yet through all the centuries of stagnation and starvation, men exalted the looters, as aristocrats of the sword, as aristocrats of birth, as aristocrats of the bureau, and despised the producers, as slaves, as traders, as shopkeepers – as industrialists.

“To the glory of mankind, there was, for the first and only time in history, a country of money – and I have no higher, more reverent tribute to pay to America, for this means: a country of reason, justice, freedom, production, achievement. For the first time, man’s mind and money were set free, and there were no fortunes-by-conquest, but only fortunes-by-work, and instead of swordsmen and slaves, there appeared the real maker of wealth, the greatest worker, the highest type of human being – the self-made man – the American industrialist.

“If you ask me to name the proudest distinction of Americans, I would choose – because it contains all the others – the fact that they were the people who created the phrase ‘to make money’. No other language or nation had ever used these words before; men had always thought of wealth as a static quantity – to be seized, begged, inherited, shared, looted, or obtained as a favor. Americans were the first to understand that wealth has to be created. The words ‘to make money’ hold the essence of human morality.

“Yet these were the words for which Americans were denounced by the rotted cultures of the looters’ continents. Now the looters’ credo has brought you to regard your proudest achievements as a hallmark of shame, your prosperity as guilt, your greatest men, the industrialists, as blackguards, and your magnificent factories as the product and property of muscular labor, the labor of whip-driven slaves, like the pyramids of Egypt. The rotter who simpers that he sees no difference between the power of the dollar and the power of the whip, ought to learn the difference on his own hide – as, I think, he will.

“Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to be the tool by which men deal with one another, then men become the tools of men. Blood, whips and guns – or dollars. Take your choice – there is no other – and your time is running out.”