March 22, 2006

Shut Up and Make More Money as an Entrepreneur

Let’s discuss one more point about the TV show The Apprentice. As most of you know I am NOT an advocate of watching Television because I have found a direct correlation between income production and the amount of television watched. Do you want to know what it is?

Here it is…

The rule of thumb is the more television you watch the lower your income. The television is what we refer to as the EIR.

What’s an EIR?

It’s the Electronic Income Reducer!

Yes it’s true. (I will discuss this more in depth in a future blog entry)

As an Entrepreneur you can’t afford to make this mistake.

…And we can learn from it as well when we select programs that will enhance us. I believe The Apprentice is one of them.

There is anther important lesson to learn from this show that I wanted to share.

At the very end when the loosing team was in the boardroom is where it really got interesting. Team members were shirking responsibility left and right (I will discuss this at another time as well) and then Brent opened his big mouth… and it cost him.

So what did Brent say?

Brent started to accuse the project manager for the loss and actually said “her leadership stank and he could smell it where he is sitting.” That was the beginning of the end. Donald Trump didn’t think that the project manager was that bad. He thought the idea wasn’t as good as the other teams. He also thought that was harsh.

Unfortunately for Brent his big mouth cost him the chance to become the next apprentice. Had he kept quiet and focused on the real issue, which was the idea and the design of the product. He may have lasted another week if only he shut up. Because he came out and attacked, the team turned on him and Trump sent him packing.

As an Entrepreneur this is a very important lesson. Learning to Shut Up is a valuable skill to have. In fact, during the sales process the more you talk the less you make. Conversely, the less you talk the more you make! You can learn more about this in Chapter 13 in my book Wealth Without a Job.

Would you rather be right or would you rather be rich?

Remember keeping quiet is just as important as participating as an Entrepreneur. Sometimes it is more valuable to just keep quiet.

To Your Success,
Andy Fuehl