How to create more wealth through Ikigai and value-based strategies (Personal development wisdom snippets) | #481

What if the secret to financial wealth wasn’t about working harder, but about providing more value in the right way?

Snippet of wisdom 69.

In this series, I select my favourite, most insightful moments from previous episodes of the podcast.

In this snippet, my guest Rich Waterman, who is a Tony Robbins Senior Trainer, discusses how wealth isn’t about luck or deserving more - it’s about understanding how to serve others effectively.

Listen now to uncover how aligning your skills, passions, and market needs can unlock unlimited financial success!

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VALUABLE RESOURCES:

Listen to the full conversation with Rich Waterman in episodes #021-022:

Part 1: https://personaldevelopmentmasterypodcast.com/21

Part 2: https://personaldevelopmentmasterypodcast.com/22

Mastery Seekers Tribe: https://masteryseekerstribe.com

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Want to be a guest on Personal Development Mastery?

Send Agi Keramidas a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/personaldevelopmentmastery

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Personal development inspiration, insights, and actions to implement for living with purpose.

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Transcript

Agi Keramidas: 0:00

What if the secret to financial wealth wasn't about working harder, but about providing more value in the right way? Welcome to personal development mastery podcast, and this is another snippet of wisdom where I select my favorite, most insightful moments from previous episodes. Today's snippet is from my conversation with rich Waterman, who is a senior trainer for Tony Robbins. It is about how wealth is related to serving others effectively, and also the concept of ikigai. Let's dive right in. Okay,

Rich Waterman: 0:43

I want to create more financial wealth. Financial wealth money. Money was invented as a basic an improvement, or more efficient bartering system. So bartering system was, I bring something of you know, I bring a load of pigs to the market, and someone else brings some grain. And we have an I need your grain. You need my pigs. I have an asset. We have an assessment of how many pigs get me a certain, certain volume of grain. Now, obviously that evolved because it didn't make sense for people to sometimes, I didn't want grain. You wanted my pigs, but I didn't want your grain. I wanted something else. I wanted some pots. So then it got complicated, because you needed to get lots of people around in one place. Was obviously our towns and cities and markets and things grew up. So then we created this thing called Money was a representation of value. So that's all you got to remember, is money is just a representation of value. So if you want more money, you want more financial wealth, you just need to provide more value. And the way that I summarize is, how can I be a more service to others? That's how I do it. So contribution is obviously a big part of my my life. The way that I recommend people to create more wealth is I'm a big fan of a Japanese system called ikigai. Been talking about it quite a lot recently, because I think actually there's an element of it now that's even more important. And ikigai are four overlapping circles, and in the middle is like your sweet spot. And my summary, the circles, it may not be the traditional summary, but is, what am I really great at? What am I skilled at? I actually sometimes even just say, Where do I get results? Where can I help people get results? It might be through a product or a service. Where do I know that I can effectively add value to people? That's the first circle. That's my summary of it. The second circle is, what am I passionate about? So some people say on, I just created an amazing business, and I'm a multi millionaire, and I wasn't passionate about the business. They probably were passionate about the doing the business, the actual being a business owner. They weren't necessarily passionate about the content. A lot of people I work with are actually passionate about not only running the business and growing the business, but also the content within the business as well. Reason for that is, if you're more passionate about something, you bring more of you to it, more of your energy. You're more likely to persist. If you have bumps in the road or challenges or obstacles, you'll keep going because you love doing it. So I think it's quite a smart thing to do, to do things you're passionate about, and if you're passionate about it and you're skilled at it, you're really good at getting results with this thing or this product, this service, that's a great start. The third circle, which actually, in the past, I have ignored to a certain point, I think right now is the most important circle, potentially, of the three, which is, what do people need? And so you just need to be aware of what you do and what you're passionate about. How does that match with what people need? So you need to go and ask people, if you think you can help people with things, go and ask them, don't assume anything. One of the biggest mistakes I see with business entrepreneurs. I used to work a lot with coaching startup businesses. Biggest mistake is you fall in love with your product or service. You never check whether anyone actually wants it or not. Keith Cunningham was one of my one of my business mentors. I've got loads of key stuff up here. Lovely man, I'm one of the nicest people you ever meet. He summarizes business as find out what people want. In other words, find out what they need. Find out what people want, go and get it, give it to them. So right now, we really need to find out what people want or need. And actually, ideally, what you need to do is find out what people want, because people are very emotional, will buy emotionally. I know what people want, give them what they want and then deliver what they need as well. Because sometimes what they want and what they need is different, but don't try and be the smart, the smart ass that's selling them what they need without meeting what they want as well. I know what. Want meet that and then deliver what they need as well. That is huge. And then the fourth circle is, will they pay? Who will our people pay? Will put so you can have I'm really good at this thing. I'm really skilled at it. I'm passionate about it. People need it, but sometimes people won't pay for it. One of the challenges with being a coach is what I do is that we got strong desire to serve. And so sometimes people go, you know, I should do it for free, or I feel like I should give this away and feel free to do that when you're making enough money to pay your bills. Yeah. And as you said before, you can do it in parallel as well. Find out what you're skilled that way you get results. Find out what you're passionate about. Definitely find out what people need, and make sure they have ability to pay, or if not, create products or services that at a level appropriate level where they will pay. And actually one of the biggest mistakes people make when creating financial wealth is it's easier to sell a lot of low level products than high level ones. In my experience, is exactly the opposite. I find it easier to sell high level one to one coaching than I do hundreds of 50 pound 100 pound courses or programs or events. Might not be true for everyone. I'm telling you, mindset, but don't think that selling that low level is easier. It's actually not because you've got more competition, because more people are trying to sell into that space, whereas me, being a high level coach, I have less competition because not many people are doing it. It's a different game to play. So I think that those are few thoughts there Agi around that, you know, there is no concept of, Do I deserve it? Do I deserve money or not? There should not be a concept around that, do I deserve money? You know, I don't deserve to be to be wealthy. I deserve to be poor, that type of conversation, because you just got to bring it back to value. Can I provide value to another human being or group of human beings, or, you know, or a collection of them in a business or something like that. There is absolutely an answer to that question of, can I provide value and for every single person on that planet? The answer is yes. You just got to decide what it is, decide whether you're passionate about it, decide whether people need it, and decide whether people will pay and then you will make money. You make so much money you'll make as much money as you want to make. Surround yourself with people that have a really healthy relationship with creating money so people that are wealthy and you admire their values and morals. I

Agi Keramidas: 7:43

thank you for listening. You will find the full conversation with rich Waterman in episodes 21 and 22 it's one of the first episodes of the podcast. The links are in the episode description. If you enjoy listening and appreciate what we're doing here the quick, simple favor I'm asking of you is to click the subscribe button until next time. Stand out don't fit in.