Five things you need to know about Money

1. There’s never been a time when money was so cheap. Neither has there been a time when its been so disrespected. Money, today, buys so little of things that cost so much. Money is not used as a vehicle to move ideals forward, and is often spent on silly things. If you seek to get rich quick, understand this: Quick Money rewards work without discrimination to value. Long Money requires you to invest in others, as well as yourself. Long Money eats Quick Money for lunch!

2. Getting rich quick suggests that Money is mainly respected as a reward. Creating wealth usually requires study, time and discipline. Success and money are different things. Sustained, multigenerational wealth – Long Money – is a form of success. Quick Money is fun, but doesn’t last. Turning Quick Money into Long Money is an art.

3. The ways by which money works are not a new phenomenon. We use Bitcoin the same ways we used pebbles. Some people amass wealth and some work from greed. Money isn’t happiness; it’s a part of gaining experience. For many, this is often where life really begins. The value of anything you buy is determined by what you’re willing to pay. In the 17th Century in Holland, tulips sold at what we now consider crazy rates. The Dutch realized that the value of tulips was more about how they sold them than what they were selling! Those who want it first, pay full price; those who are willing to wait for it, pay at discount.

4. Know your own worth. Whether you’re selling talent, skills, ideas or knowledge, it’s important to know who your buyer is and where your market is. Think this way: Who, What, When, Where, How. Who – Who is my customer? Who is going see the value, as I frame it, for what I’m selling? Know that because you love it, or because you’re really good at it, is not always gonna be the buyer’s guide. What – What is my value proposition? What makes my ‘sell’ pop? When – When am I – or my ‘thing’ – ready to go to market? Have I thought it all the way through? If you’re selling a song, does it message well now? If you’re selling your ability to teach, are you fully learned and credentialed now? If you’re selling an app or a technology, is it functional all the way and will it integrate or service wide as is; or is it a great idea in beta stage and ready to be sold for that, alone? Where – Where will I launch my service or my product? Broadway shows launch off broadway for a reason. They test the ‘hit’ value on off-markets so that they work out the glitches, gain the buzz and hone the players to top performance! How – After all is ready, HOW is the secret formula to success. No matter that the product or service is ready and great, HOW it’s perceived is where the money is. This is why some terrific ideas that take years to come to fruition as products – really great products – fail; yet, some successes appear to be ‘overnight successes’. If you want proof, ask Issa Rae of Insecure.

5. Know your true motivation about money. Understand what money really means to you. How does it align with your value of yourself, to yourself and how you value life. Mother Theresa and Gandhi died broke. Elvis Presley and Michael Jackson left fortunes. Yet, some would say Mother Theresa and Gandhi lived rich lives and Elvis and Michael died broken. Whatever your true motivation, it’s your right. Just be honest about it and then dedicate to it. If you’re a manager of people, remember that you cannot achieve your monetary goals without lifting those you lead. If you seek stardom, remember that you may shine like sun or moon, or burst and fade like a meteor – depending on how you serve your customer. Always attach your true desire to service you are prepared and happy to give. From these will come your wealth.


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Janice Bryant Howroyd

Businesswoman, entrepreneur, educator, ambassador, author, mentor and Presidential Special Appointee, Janice Bryant Howroyd is the Founder and Chief Executive Officer of The Act •1 Group, a global leader providing customized cutting edge solutions in the human resources industry.