I’m heading out the door for the weekend. Hopefully, the weather holds up and we’ll get a chance to take the kids out for apple picking, a little leaf peepin’ (the foliage has been dramatic this fall), and squeeze in a couple of soccer games in between. Come Sunday, I’ll be laying horizontally on the couch watching the Pats take on the Ravens.
My children started in a new private school this year and I’m amazed at the quality and quantity (this is a good thing) of homework they bring home every night. One of the little essays I was reading, that my third-grader took home, was about compound learning and how it applies to learning and growing. Here’s my spin on compound learning – with respect to earning more money and acquiring more skills.
The Phenomenon of Compound Learning
When you invest your time and energy in mastering a financially valued marketing skill, it will help you make good money almost immediately. Every year that you continue to use it, you’ll find that it will get easier to create bigger personal paydays and make quantum jumps in income.
Over time, your income will be in an entirely different tax bracket. And not because it was handed to you, but because you made yourself into an entirely better, and perhaps even more desirable, person to do business with.
Let me lay this out for you so you can see what I’m talking about.
If you were to learn a special marketing skill today – say, how to create a killer headline. You can apply that to a direct mail piece (like a postcard) and increase the response rate (i.e. hot prospects making your phone ring) for that marketing piece.
If you then learned the skill of writing compelling copy, you can couple that with a killer headline on a direct mail piece and get a dramatic increase in your response rate (phone ringing like grand central.)
Now that you’ve honed two valuable marketing skills, you can create a 3 piece direct marketing campaign. This will really kick up your response rate. – which might well be worth thousands, maybe tens of thousands, of dollars to your security business.
As you apply that same molecule of knowledge over and over again you’ll get stronger at it. And that improvement will result in higher response rates and higher net dollars to you.
As you add more magical arrows to your security marketing quiver, your postcards, sales letters and overall speaking and writing skills will achieve more powerful responses (more HOT prospects responding to your offer), because your entire sales funnel will be operating together fluently, with other tricks and techniques.
The Power of Leverage…
And that’s not the only way investing in learning a financially valued skill is like investing money. Because once you learn a financially valuable marketing skill, the amount of money you earn from it is mostly about leverage – about knowing how to apply that knowledge to increasingly lucrative security opportunities.
In other words, the same skill that can earn you $50,000 when your security business is relatively small might earn you $100,000 or even $250,000 (ore even 10 times that much) if you are able to [scale] your business with your marketing efforts. Your knowledge compounds like interest over time and so can the opportunities toward which you apply it.
This is what you want – to be able to earn a great deal more money in the future for the same amount of work you are doing now. That can best be ensured by learning valuable marketing skills now to make your business grow and then enjoying the increase in earnings when it does.