DAY FOUR: GET CLEAR ON YOUR EXPERTISE
Challenge of the day: write out your skills and talents!
This is day four of my five-day challenge, Confidence to Quit, and if you want to share this with your friends, please do so on social media!
Quit your job. So all of my entire work, my entire company is all about quitting your job, and creating your own business online. It’s great that we have some new people in here, and stick around to the end: I’ll take Q and A at the end, so do stick around if you have some questions about all the things we’re talking about today.
Get clear on your expertise
Today is day four, and today we’re going to be talking about getting clear on your expertise. We’ve been talking about money worries, personal confidence and fears about that in the last few days, and I think one of the main reasons that we don’t have that confidence to actually get started in business is that we aren’t confident in our own expertise. We aren’t confident in the skills and the talents that we already have. And I’m actually creating a whole body of work around this over the next month or so because this is something that’s really key. And it’s something that really holds people back, and I don’t want you to be held back by this anymore.
People are so worried about quitting their job and bringing in their own money, and having to use their own skills without some sort of set salary each month. They’re so worried about making money, but I wish I could show you the tax returns of some of these people [my colleagues], for what they’re making online.
If you’re in a corporate job, you’re probably earning something between 3 and 10K a month. That is the smallest amount of money that you can expect to be making in this world. Because it’s really nothing to do with being the world expert, or being the best, and I’ll go into that in a second. It’s more to do with leveraging your product, and getting it out there to more and more and more people.
And that’s why the online aspect is so amazing because there’s seven billion people in the world, and three or four billion people with internet access. So how could you possibly not find 100 or 200 people to buy your thing, you know it just doesn’t make sense.
It’s actually quite ridiculous to think that it would be physically impossible for you to make your salary. Let’s say you’re making 5K a month just for the sake of argument; to think that you couldn’t make that in your own business, to think that being in the corporate world is all you can do, that is a really restrictive way of thinking. Because the upside of business is so, so much more than that, and I know I’ve been saying this every single day, but it’s so true.
Don't Compare Yourself to Others
So one of the reasons that we feel like this is that we have a bit of a judgment around money and earning power. And there’s no element of deserving, there’s no moral judgment to do with money.
It’s a case of having a smart strategy, marketing correctly, getting out there, and having a good quality of product – that is it. It’s not like you need to be better than them or smarter than them. People really hold themselves back because they compare themselves to other people, and they think that the other person is better in some way, and therefore they deserve to make that money – and you don’t. And that’s really not true at all.
We see this in the normal world, the offline world. We’ve got nurses and doctors, and nurses and teachers and firemen in the UK earning, say, £20,000 a year. And then we have a footballer who is on £20million a year. Is that footballer an exponentially better person? Is he exponentially more skilled? Is he doing an exponentially more important job for the world? No! He just knows how to market his skills.
I actually did an entire study on this when I was at university: I studied economics. There’s this concept called economic rent: basically, it means that there’s a sort of baseline level of what you can charge for services, and then there’s this upswing of costs and prices. And that is all based around things like branding and perceived value and this intangible benefit that a person can give for their work.
And the reality is actually that the difference between a gold medal winner and a silver medal winner is just this much [tiny], and the difference between one footballer and another footballer in terms of their actual skill is this much [tiny], but their salaries can vary so, so much more or less. And my point is that that person isn’t working any hard than that nurse, he may even be working less hard. He’s definitely not working a hundred or a thousand or ten thousand times harder, to earn ten thousand times more. He is not a better person; he’s not even smarter. He probably has even less education than some people working on the front lines. But he’s captured a demand; he’s using a skill. He’s captured the demands of a population who want to pay to see football games. So his club wants to pay him and he’s upped his rent and that’s basically what it is.
You don’t have to be an expert
It’s nothing to do with being smarter or better or more intelligent or having more innate skills in that sense. You don’t have to be THE best, that is my point. The difference between the number one footballer in the world and the number fifteen footballer in the world isn’t much. The difference between the number one footballer in the world and the number one thousand footballer in the world is probably not much.
So you don’t need to be the best person in the world. You don’t need to be the expert or the world leading renowned source on whatever it is that your area of expertise is. All you need to do is to be three or four steps ahead of your target audience. So you just need to know how to get them from this point to that point. You don’t need to know everything there is to know about whatever your topic is.
And if you think about this logically, it really makes a lot of sense. If you want to learn piano, you don’t go to Lang Lang, the internationally acclaimed concert pianist who plays for royalty. He’s not going to teach you piano. It’ll be the piano teacher in your neighborhood, who is good at piano, but she’s not the world’s best expert. She is just a few steps ahead of you; she just knows how to play, and she knows her scales, and she can read music. And that’s enough to get you going. And that is my point: you do not have to be the world leading expert in whatever field it is you want to go into.
So that is something that people really don’t quite understand and it really keeps them out of the game because they are pushing and pushing and pushing and trying to learn and become the best and the best. And they’re also sort of competing with other people, thinking “Well, that person knows more than me, so I better learn more before I get started.” And that’s not how it should be. If you would just get out there and market your skills, get a couple of clients, help people, you would see how totally needed you are. What amazing results you can get for your clients, with the skills you have right now, right this second.
So that is the first thing. Please just remove any judgment or any sort of moral weight that people put on money. It’s literally just a case of getting out there in front of more people, and having more people buy your thing, and more people desire your thing, and you will get more money. That’s basically how it is.
It’s nothing to do with being better, smarter, working harder, etc. It is none of this “I need to fight and suffer and push for this money.” You can just create the structures that allow you to have a decent amount of money. I’m not talking millions, you can use this to make millions as well, just on leveraging out the numbers of people who want your things. But with the business models that I teach, if you take on four or five clients a month, you can be at 5K a month. And it’s really not that hard to find four or five people a month, it’s just 50 people a year. It’s really not that difficult; you probably have them in your phone book already.
Use the skills you already have
So the next thing I want to talk about a bit is having this expertise, having the skills. You have so many skills already that you just disregard because they’re not considered important in the "normal" jobs market. And it’s things like how to lose weight, or you have the experience of losing weight. Maybe it’s personal experiences. Maybe you went through a divorce and you learned how to cope, and you have something like this emotional experience. Maybe it’s something like you’ve had a few jobs and you’re really good at writing CVs, and it gets you the job, but you never really think about that as the skill.
Or you’re great at interviewing. Or you’re amazing at managing conflict and you can actually package up those skills and share with other people how they could manage conflict in their workplace or in their relationships or whatever it might be. There’s so many skills that are required that people could learn that you probably have innately. And you just work out what your method is and then teach that method.
And you already have this skill. You don’t need to go and get a Masters degree, you don’t need to go and get some kind of certification or qualification or some bit of paper that says “I know how to manage conflicts.” There’s probably not a Masters degree program like that out there. That’s the other thing: so many of these skills don’t have formal education around them. So there’s nothing that you could actually do to make yourself ‘more of an expert,’ as it were.
What do you know how to do?
So have a good think about what it is that you actually do know how to do. What could you actually help people with? There are so many things where you are a couple of steps ahead of the majority of the population and you could really be helping people. And by you sitting at home complaining that you’re not the expert, worrying if you’re good enough, being scared to actually get out there and make the sale and market yourself, you’re actually holding back that skill from getting out to other people who it could help. You’re actually stopping money from being made, happiness from being improved - everything that’s going on in the world - by you playing small and sitting there. And that’s something that people don’t really seem to get because they’re so caught up in their ego, and their own worries, and their own personal stuff that they forget they’re actually of service to the world.
Imagine I was sitting at home being scared to make this video, and you weren’t listening to it and watching it, and you didn’t know that you could quit your job and would spend your life in your career unhappy. It’s exactly the same with whatever your skills and your interests are and you actually getting it out there and making something of that and putting it out there into the world.
So the challenge today is just an exercise to get you a little bit more into this mindset of what could I do? What experiences and skills do I have? So I want you to think about a time, about a year ago: where were you at in your life, what were you struggling with? Was there some kind of big event going on in your life? Maybe it was 6 months ago, 18 months ago, but around about a year ago.
And have a think about who you were at that time and what were you struggling with. What was on your mind? What was it that you wanted to achieve but you couldn’t quite manage it, or what was lacking in your life that you wished you had? And write that down.
And then think a little bit about what kind of help were you looking for to address that problem. If somebody could have said, “hey Rosie, here is this solution to this problem,” – what would that solution have been for you? Now maybe you’d broken up with your boyfriend and you wanted to get over heart break. Or maybe you were desperate to learn how to save money. Or you maybe you really wanted to go traveling. Or maybe you wanted to lose weight. What were the things that were on your mind and just weighing on you at that point?
And then think again about how far you have come since then. What have you learned on that subject that you could potentially help people with? And then continuing on with this exercise, I want you to think about maybe three years ago. Where were you at? What were you doing? What was worrying you and pressuring you, and what were you struggling with? What was the solution that if you could have dreamed up a solution for yourself? And then how far have you come since then?
And then I want you to go back five years, maybe it’s seven, maybe it’s ten years ago, whenever in that timeframe there was the next big period of your life where there was a bit of a struggle. And go through the exercise again: what were you struggling with? What was on your mind? What was worrying you? What solution did you wish you could have for that problem – even if it seemed totally outlandish and totally impossible? And then how have you grown since then, how did you get past that, what did you learn back then?
And you can do this obviously with different time periods in your life; those times aren’t the important factor. It’s more for you to go back and revisit those times in your life and see where you’ve grown. See where you’ve learned, see where you’ve picked up skills or got through experiences and you have something that you could share with other people. And have a little bit of a think about that. Maybe that will jog your memory, inspire you with some ideas.
So if you have any great ideas, I would love for you to come into the Living Rosy Facebook group and join me in there. Let me know what sort of ideas came to you, and I’d love to have a bit of a chat about those business ideas. That sounds amazing.
Up Next: Money Secrets Challenge
The next thing I want to talk to you about before I start taking Q and A is join me next week, I’m doing a Money Secrets challenge. There are so many myths and so many misunderstandings going on around starting a business: the money that’s required, the money you can make, all the monetary reasons why you think you can’t start a business and I just want to demystify all of that because I started Living Rosy on a very tight budget. It is totally doable, so I would love for you to join me there, and the signup page for that is livingrosy.com/entrepreneur-money-secrets.
So it was great speaking to you guys; I will speak to you tomorrow for the final day of the challenge!
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