This is part 2 of what I learned from Eben Pagan.  Check Out Pt 1 Here

Money isn’t Real

Money has no intrinsic value meaning that there is nothing backing money. Focusing on Money doesn’t build wealth. We need to focus on Value.  Alot of what Eben teaches is all about creating value which he does through information products.

Moving the Free Line

All of us as humans have justice mechanism.  Meaning that we are constantly worried about things being fair.  We are very worried about getting ripped off.

There was an interesting experiment done with two people.  Person A was given $100 dollars and the choice of how to split the money up.  Person B decided whether or not they got money.  When person A split the money 50/50 person B agreed 100% of the time and both people left the experiment with $50.  However when person A got clever and decided that he would split the money up $80 dollars for himself and $20 for person B.  Person B would say No a certain percentage of the time and neither person would leave the room with any money.  The people who ran this experiment were baffled, logic would say that person B would just take the $20.

That’s not the way it works, as humans we hate to see the other person get the better deal so much that we are willing to forfeit our profit.  Eben says that a lot of us sabotage our own success by doing this.  Eben says that by learning to love getting the short end of the stick you can become very wealthy.  Giving away $1,000 of value and then asking for $100 back.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Filed under: Uncategorized

Like this post? Subscribe to my RSS feed and get loads more!