Book Summary – The Business of Life – How you can prosper in the Information Age – Written by Orrin Woodward & Chris Brady
Orrin and Chris are New York Times bestselling authors. Their main book Launching a Leadership revolution is a good book with excellent calls to action. That book will be profiled in another summary. For now, the business of life will highlight the three C’s (content, commerce & community) and other relevant information.
Why is this important to me? I ask this question as if I am sitting in your shoes. It is time for people to proactively take their futures into their own hands. We are entering trying times with the world economy and global challenges. The world will be a very different place in ten years. The question becomes will you be left behind or will you create your own destiny? The personal debt of U.S. citizens is very high so answering this question may seem like a pipe dream.
Most people I speak with are busy treading water and can’t even think of crafting a life plan because the bills and debt burden are too heavy to escape. What is the answer? The key to happiness and freedom is hard work and the right business. I know money does not make the world go round but it provides the grease so the wheel can turn. Money and stress are inversely proportional. I understand that Fortune 500 executive live with high stress but they are not worried about their next meal. The poor live with much more stress.
Orrin and Chris chat about the 4 main growth industries that provide for business and growth opportunities. We will profile those and highlight other important points.
1.Personal Development – Walk into any book store and you will find the self-help and personal development section packed with people. This market is a multi-billion dollar industry. Personal Development products work, the problem with it is the execution of the material. Most people buy products like P90X which works but they forget to actually do the behavior. This provides for a real opportunity to help and an excellent potential business.
2.Networking – Networking provides the power of franchising without the costs. In the book E-Myth, it states that 80% of businesses fail in ten years while 75% of franchises succeed. The main reason is franchise businesses are systems businesses. This means that everything is scripted and there is very little room for error. You can walk into McDonald’s in New York or California and everything is the same. Systems businesses provide for scalability. Networking is similar but the start-up costs are non-existent. The key here is to find the right leadership and company to partner with. Robert Kiyosaki from Rich Dad Poor Dad is a big fan of networking.
3.Life Coaching – Most people will not invest in a Life Coach. This is a real shame because the biggest way to success is to associate and emulate people who have already done it. Tony Robbins is a huge success and he achieved it in far less time than others because he embraced this concept. Sharing great content and providing direction is a huge business opportunity. Check out thenewboston.com, this website provides free tutorials and has received over 150 Million YouTube visits. Likewise Rossboxing.com has received over 8 million YouTube visits. These guys provide real value that is actionable.
4.Community Building – Building Communities is critical in the information age and much easier than in the past. Good content is the key to building communities. This is still hard work but the benefits are worth it. In the software business, the size of the community is more valuable than the actual Intellectual Property. Examples of this are Facebook, LinkedIn and Twitter.
Understanding what drives you is the key to true meaning in life. When you understand your purpose then money and happiness become by products. All of this does not matter unless you invest in the sweat equity to get it done. Also remember this quote from Albert Einstein – -Great spirits have always encountered violent opposition from mediocre minds.- I hope you have found this short summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days. One thing you can take away from this book is the power of good content. None of the industries profiled above are worth anything without good content. Master content generation and you will be successful in any endeavor you choose.