You all know I’m a big fan of Brian Tracy and today I have decided to bring you a great article from Brian on The Law of Capital.

 

If you don’t know who Brian Tracy is you can read about him on my Brian Tracy page from the menu – but let me just say he is quite phenominal!

 

Here we go with Brian’s article – I hope you enjoy it – I did!

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.

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.

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.

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.

Learn The Universal Laws of Success and Achievement Today!

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.

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.

Increase Your Return on Life
The next 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
Learn The Universal Laws of Success and Achievement Today!

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!

Brian Tracy is a mentor for me. He has so many outstanding courses available and is a Faculty member and Lecturer at Success University. Instead of having to buy all his products individually, I have access to Brian Tracey 24/7 in my Success University learning center – what a bonus!

Get a free trial to Success University now and enjoy the benfits of world class leaders such as Brian Tracy and incredible programs like The Law of Capital.

This entry was posted on Wednesday, April 22nd, 2009 at 9:04 pm and is filed under Personal Development Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.