3 of my favourite business books that led me to the importance of personal branding
Rich Dad Poor Dad by Robert T. Kiyosaki
Multiple Streams of Income by Robert G. Allen
Expert Secrets by Russell Brunson
Reading these made me realise that the path to wealth is not by selling my time and my life to a job that I hated, but rather it was to buy and control assets.
These assets could include property, a business or my personal brand.
All of these are good paths. But probably the personal brand is the easiest one to build, especially now with the rise of social media and the scalability of the internet.
Firstly build these assets, and then find a way of monetising them most effectively.
I actually read "Multiple Streams of Income" when it first came out in 2000. I remember having my mind blown by this book, as it opened my eyes to how I could escape my stressful job as an accountant which I hated. I had been looking for ways to leave this job for many years, and this book gave me some ideas for a blueprint.
We only have x amount of time, so the key to acquiring these multiple streams of income is not to work harder and harder with more jobs and side gigs, it was actually to acquire assets of some kind.
He talked about various ways of acquiring assets such as the stock market, property, network marketing and info products. The idea was not to expose yourself to too much risks by having all your eggs in one basket, as any of these could go down. So much safer to spread your assets around, and then protect them with a limited company.
"Rich Dad Poor Dad" talks a lot about the value of having an asset rather than just selling your time for money. There is a lot of truth in this. Just look around at people you know who are rich, and people you know who are poor. The poorer people lack assets so are forced to sell their time for whatever market rate they can get, which is often very low.
Richer people have assets of some kind, and derive some kind of income from them. Maybe dividends, rent etc, or if they have a personal brand they can easily monetise this with info products, or selling their endorsements etc.
To acquire these assets it can often make a lot of sense to use other people's money in whatever form you can get it. eg loans, mortgages or equity share.
Those books were great, and gave me a vision, but they did not give a clear path to achieve that. Property was probably the most obvious path, and I followed that with a lot of success.
It was not until 2017 many years later that "Expert Secrets" had come out. A lot had changed in the 17 years since the other two books came out.
Social media had really taken off. The traffic on the Internet had become vast, and we were surrounded by many people who had built vast wealth on the Internet. Also demographic targeting by Facebook ads had become very sophisticated, and it was very easy to create beautiful web sites and social media profiles with zero technical skill.
The sub heading of Expert Secret's book is "The Underground Playbook to find your message, build a tribe and change the world". It is really a fantastic book, and it gives a step by step path how we can do these things relatively easily. Or at least much more easily than amassing a massive property empire, or vast stocks and shares portfolio starting from nothing.
The idea advanced in the book is that it all starts with finding our voice. I know a lot of people find that hard, but really it is just practice. It is just a case of doing it. Of making videos, audios, writing blog posts, and expressing yourself. Just make yourself more visible.
Then you need to develop some sort of framework. A path from A to B. Just break it down into steps, and start teaching it.
Some people will like you and others will not. This is much better than being really bland and boring and trying to please everyone which never works, as people will just ignore you.
Then the people who like you will join your tribe. You just need to scale all this up with traffic, and learn how to monitise this in a win-win way. Give away a lot of stuff for free, then start charging for info products, and have different levels of access to you and your time.
This is how people make a lot of wealth on the internet. And it is the path that I am following and teaching.
A new edition of "Expert Secrets" has just come out this year. It is updated and massively expanded from 268 pages to 355 pages. You can get it free plus shipping plus bonuses at https://magneticproperty.com/expertsecrets .