I have been reading Law of Success in Sixteen Lessons by Napoleon Hill for quite some time. I just finished Lesson Nine about “Habit of Doing More Than You Are Paid For”. This is a very interesting philosophy. I can think of many examples where I know this to be true, but this is really a tough philosophy to live by. The reason it is tough is because we are human and self-preservation is in our DNA. We feel as if to always look at “what’s in it for me” mentality. In order to have success at any level we must learn The Law of Increasing Returns.
The Law of Increasing Returns is the same philosophy as Albert Einstein thought about his eighth wonder of the world, the power of compounding interest. The Law of Increasing Returns states by doing more or giving more service than you are paid to do, the universe will reward you with greater compensation than the money you gave up doing the extra work. For example, I helped a friend that I network with train her team on how to use LinkedIn to grow her team’s business. I am a life insurance broker not a social media guru, but I do understand the value of LinkedIn and how to use it to make money. So I gave an hour of my time on a webinar and showed her team how to use LinkedIn to grow their business. I had no compensation nor expectation of getting anything from anyone on this webinar. I did it as a friend. At the end of the webinar I was asked by the group what I did for a living. I told them my “day job” was a national life insurance broker and gave them my contact information in case they had any questions. I was contacted by 7 people on this call and wrote 10 life insurance policies which netted me several thousand dollars in business. I honestly never considered that would happen, but was very grateful that it did. Now I could have charged my friend a couple of hundred bucks for “my time” and ran through the basics and moved on. But instead I gave “my time” and didn’t rush through anything and was rewarded many times over in compensation.
The Law of Increasing Returns is also used by a great networking organization, BNI. Their mantra is “Givers Gain”. If I give business referrals to you, you will feel obligated to give business referrals to me. We both help each other grow our businesses. This “Givers Gain” is the Law of Increasing Returns put into action. You must learn to give by being a good networker. Make no mistake, it is a lot of work, but very necessary to enjoy true success. As Napoleon Hill stated “it is literally true that you can succeed best and quickest by helping others succeed”. Challenge yourself for the next six months to help someone different every day, with no expectation of monetary gain and see how your life changes for the better.
“No man can rise to fame and fortune without carrying others along with him. It simply cannot be done.”—Napoleon Hill
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Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, entrepreneur, insurance agent, life insurance broker, salesman, sales trainer, recruiter, public speaker, blogger and team leader with over 27 years of experience in sales and marketing in the insurance and beverage industries.