Your Five Resources
By John Counsel
These five well-rounded stones are your key personal resources in small business (including network marketing and party plan) – resources not available to BIG business in anywhere near the same degree.
1. Your mind
2. Your relationships
3. Your acquired forms of personal leverage
4. Your bestowed forms of personal leverage
5. Your mediums of exchange1. Your Mind
This represents your true Competitive Edge in small business – your ability to outthink and outsmart the competition. The great advantage you have over BIG business here is the degree of integration possible because one person is so thoroughly familiar with ALL aspects of the business.
2. Your Relationships
Three kinds of relationships, all of which provide resources you can’t provide personally (see the Chapter on Leverage).
Customer relationships
Internal relationships
External relationships3. Your Acquired Forms of Personal Leverage
These are the ones you can learn and teach. They’re duplicable.
Knowledge
Attitude
Skills4. Your Endowed Forms of Personal Leverage
These are the ones you’re born with — you either have them, or you don’t. You can’t learn or teach them. They’re not duplicable. But they make a significant difference when added to knowledge, attitudes and skills. Without knowledge, attitudes and skills, they’re effectively useless.
Gifts
Talents
Abilities5. Your Mediums of Exchange
This is your time (endowed) and money (acquired). Their only value lies in what they can be exchanged for. They're freely interchangeable and the basis of all employment — including “self-employment.” The whole point of being in business for yourself is to sever all connection between the two – because that’s the only thing you can’t have, with less risk, in a job!
Taken from
“Don’t Go Into Small Business
Until You Read This Book!”
by John Counsel
Small Business Books 1996
© 1996, 1997 by John Counsel
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