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The Law of Capital
By: Brian Tracy
The Law of Capital - your most
valuable asset, in terms of cash flow, is
your physical and mental capital,
your earning ability.
Your Earning Ability
You may not even be aware that,
unless you are wealthy already, your
ability to work is the most valuable
asset that you have. By utilizing your
earning ability to its fullest, you
can bring thousands of dollars each year
into your life. By applying your
earning ability to the production of
valuable goods and services, you can
generate sufficient money to pay
for all the things that you want in
life. The amount of money that you are
paid today is a direct measure of
the extent to which you have
developed your earning ability so
far.
Use Your Time Well
The first corollary of the Law of
Capital says: "Your most precious
resource is your time." Your
time is really all you have to sell. How much
time you put in and how much of
yourself you put into that time, largely
determines your earning ability.
Poor time management is one of the
major reasons for poor productivity
and underachievement in every
industry in America. It is the
number one problem for both managers
and salespeople in every field.
Invest Yourself Carefully
The second corollary of the Law of
Capital says: "Time and money can
be either spent or invested."
One of the smartest things that you can do
is to invest three percent of your
earnings every month back into yourself
on personal and professional
development, on becoming better at the
most important things you do. In
fact, if you just invested as much in
your mind each year as you do in
your car, that alone could make you
wealthy.
Invest one hour of your time reading
in your field every day. Listen to
audio programs in your car. Attend
every course that can advance
you in your career. Get personal and
professional coaching to help
you to get the very best out of
yourself.
Get Better At the Things You Do
There is nothing that will give you
a bigger and better "bang" for your
buck than reinvesting a part of your
time and money back into your
capability to earn even more. All
wealthy and successful Americans
have learned this sooner or later,
and all poor and unhappy
Americans are still trying to figure
it out.
Increase Your Return on Life
The third corollary of the Law of
Capital says: "One of the best
investments of your time and money
is to increase your earning ability."
The purpose of corporate strategic
planning is to increase "return on
equity" or ROE. This requires
organizing and reorganizing corporate
activities so that the company is
earning a higher return on the capital
invested in the organization. In
your work life, your personal equity
is your mental and emotional
capital. Your job then is to earn the
highest possible return on your
human capital, to increase your
"return on energy." This
way of viewing yourself must become a key
part of your attitude throughout
your work life.
Action Exercises
Here are two things you can do to
apply this law immediately:
First, take a list of your output
responsibilities, the things you do that
represent accomplishments, not
activities. Examine the list and rank
the tasks by priority, on the basis
of the value of the work to your
company.
Second, take a list of all the
things you do, day in and day out. Take
this list to your boss and ask him
or her to rank your tasks in terms
of how valuable he or she considers
them to be. Then resolve to
work on your most valuable tasks
every minute of every day.
This is only 1 of 149 Universal Laws
of Success and Achievement
Universal Laws are at work whether
you know about them or not.
These laws explain why some people
are more successful than others.
By knowing them, you can explain and
predict the workings of the
world - and allow them to work in
your favor.
Learn The Universal Laws of Success and Achievement Today!
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