Money Follows Mastery

Money Follows Mastery
| Myron Golden |
0:00 What is Mastery?
When I teach entrepreneurs about business, one of the things I teach is the purpose of learning: mastery. I believe one of the reasons people find themselves frustrated, disillusioned, overwhelmed is because they thought that because they passed tests and got good grades, that automatically means they're prepared for life.
Mastery is the ability to execute effortlessly without the use of conscious resources. And we've all seen mastery exhibited by people who've mastered their craft. They've mastered their niche. And it's really fascinating because when somebody is a master, they can take something very, very complicated and make it look effortlessly easy.
I'm a black belt in martial arts. I've broken like five concrete slabs on fire with my bare hands. And I'm a golfer. Golf is way more harder than breaking five concrete slabs with your bare hands. But when you watch professional golfers, it doesn't look that hard. They make it look so easy that you got people out there chopping up the golf course in all kinds of crazy ways.
2:10 Money Follows Mastery
We should all have mastery as an objective for our learning, for our growing. We should be seeking mastery. Not just, "oh, I learned it." The purpose of learning is mastery. If I have not mastered it, it means I haven't learned it until I can execute it effortlessly without the use of conscious resources.
There are levels to mastery. There's the Tiger Woods level in golf, and then there are the other levels, right? So there are levels to mastery. The more you master your craft and the more you master creating a value that serves a broad array of people, the more money you're gonna make. That's just real life.
We have to master so many different things to have run a successful business that it feels like it's impossible. And so there are a couple things that we can do though in the arena of mastery that will help us build a successful business so that money can follow our mastery. There are several things we can do and that we can take control over how much wealth we are able to create in the businesses that we build.
04:02 Decide
We have to decide that we are going to seek mastery. The prefix "de" means "of" or "from." The suffix "cide" means "the cut." So when I decide something, I'm not choosing. Decide means cut yourself off from any other possibility.
So let's say in order for me to build a successful business, I have to master one, lead generation. Two, lead conversion. Three, customer ascension, and customer retention. So let's say those are the four components of business that I need to master in order for me to build a successful business that makes a significant amount of money for it to support me and my family, as well as the families of the people who work on my team.
5:18 Master One Component at a Time
Let's say now these are the components, but each one of these components have sub-levels. If I'm gonna generate leads, that means I need to have an opt-in funnel, a lead magnet, an autoresponder and I need to know how all those things work. Mastering this one thing is more than just mastering the words to be able to say, "lead generation," right? I need to understand how I need to get better at my communication, and I need to get better at communicating value, positioning, preframing, etc. Then when I come down here, I need to get better at creating perceived value and creating intrinsic value. I need to get better at taking a product and turning it into an experience, and then I need to get better at branding, right?
Now I've got all these things. I've got four things times... now I'm up to seven. Like I can't even remember all those things. So that's why I master one component at a time in any new discipline. It doesn't matter if you're gonna learn how to play golf, it doesn't matter if you're gonna do martial arts.
07:27 Biblical Principles on Riches & Righteousness
19:06 On Wisdom, Understanding, and Ignorance
24:33 Are You Someone’s Asset?
29:51 Where Attention Goes, Intention Follows
36:47 Master Your Mindset
39:47 Master Your Skillset
41:01 Master Your Toolset
45:21 All Work Works
Money Follows Mastery
| Myron Golden |