hob Bare on Monetize Your Mind with Patrick Dougher on Creativity http://www.MorePowerToPublish.com Bob Bare gives great advice on monetizing your creativity. How to get more money from your ideas.
Patrick: Welcome to Monetize Your Mind. I’m Pat Dougher. I’m usually the host of The Business Spotlight, but this week we wanted to give you a special addition on how to make creativity earn you some extra money. Monetize Your Mind is about bringing the gifts and tools and things that will help you pluck from air (PFA) the extra revenue from you because all of us have wealth between our ears. We just need to pull it out.
Today we’ve got Bob Bare. Bob is an accomplished entrepreneur. He’s had several very successful businesses. He’s a published author and now even has a publishing company.
Bob, as the host of the show, thanks so much for doing this.
Bob: Thank you for being here with me, Patrick.
Patrick: It’s my pleasure. I know that a lot of the design of Monetize Your Mind is to create extra wealth for the listeners, the viewers, the people who are trying to create a legacy or maybe even take their gifting and bring it to the marketplace. You have tools to help them monetize that.
Bob: Patrick, on the way over here to the studio, I was thinking about a story I really wanted to share. It made a big impact on me when I was young. I used to listen to someone named Earl Nightingale and he used to tell a story about a speaker/writer named Russell Conwell. Millennials may wonder why I would be telling a story about somebody who was born in 1843 and died in 1925.
Patrick: An old dead dude.
Bob: The baby boomers like me will understand that there are really some valuable things to be learned from the past. Russell Conwell told a story called Acres of Diamonds that really relates to what we’re going to talk about, monetizing your mind. This was actually a speech that Russell Conwell gave 6,000 times. He turned it into a book and used it as a fundraiser to found Temple University in Philadelphia.
In the story, he told about a man who lived in South Africa who was a farmer, and this farmer had dreams of becoming wealthy. He wanted wealth and he had heard all these great stories about people discovering gold nuggets and diamonds. He said, “I would really love to have a diamond mind. If I can find diamonds, that would be so much better than being a farmer.” So he sold his farm and he took off searching the world. He died in poverty, died broke.
In the meantime, the guy that bought his farm was out walking one day and he saw something glinting by the edge of the stream. It turned out to be a diamond in the rough, and it turned out that one of the largest diamond mines in South Africa was on the farm that this guy sold. The point that Russell Conwell made in Acres of Diamonds was that we all have acres of diamonds in our own backyard.
I want to narrow that down even more – not in our own backyard. We all have a fortune between our ears. So many people are looking for a guru, looking for someone to tell them what they should do without realizing the value they have themselves.
Today and in the next few programs, we’re going to be talking about how to get that value out of your mind – how to get the intellectual property that you have in your mind and monetize it and turn it into a stream of income.
Patrick: I know that one of the things you’re exceptionally good at is breaking down a complex idea into its components. It’s a little bit like taking the puzzle back apart and saying, “Here are the parts,” and then bringing them together and showing people how to put the puzzle together in a way that makes a lot of sense.
We’ll have slides that people can get if they e-mail you or go to your website, www.MorePowerToPublish.com. They get some information about that.
What are the four basic concepts that we want to cover on Monetize Your Mind?
Bob: The first one is understanding the value that you have in your mind. We’ll talk about this in the next segment, but it’s more than just your knowledge. There is a lot of value that each person gains through their experience and their lifetime that we’ll talk about.
Then you can take that value and use it to create content. The world is really hungry for content. On the Internet, it’s easy. You can build a website, but unless you have content in that website, it’s really rather useless. How do you take the intellectual property that you have in your mind and turn it into content that the world wants?
And then, how do you take that content – the third section – and begin to repurpose it in various ways and reuse it in ways that will be effective in ways that people will want? We’ll talk about that.
Patrick: That’s creating your content?
Bob: Yes. Next, we’ll give an overview of one of the workshops we have coming up. More Power to Publish is actually teaching people methods and systems of taking content and monetizing it. We’ll get into that and explain that a little bit.
Patrick: We’ll also be showing a couple of other slides that talk about repurposing and even More Power to Publish. This is Monetizing Your Mind. It’s a gift today. Hopefully you’re seeing it either in Houston or DFW. Monetizing Your Mind. This is Pat Dougher. We’ll be right back.
Patrick: Welcome back to Monetize Your Mind, where creativity earns you extra money. This show is really about giving you tips, tools, and techniques to help you generate more revenue from, as Bob was saying in the last segment, the diamonds in your own field.
Bob, we want to go a little deeper into the components and the pieces of creating the revenue. We actually stopped with one of the slides coming up on repurposing. Do you want to cover that real quick? Then we can get back into the value of this show being the value of your mind.
Bob: In repurposing, we’ll be talking about the various ways of taking one piece of content and recreating it and reusing it in various venues and methods. People sometimes feel like they have to be doing all of these different things, and actually if you can capture content and your ideas in one format, a lot of times you can have other people take that and repurpose it. We’ll talk about that.
Patrick: One of the things we were talking about before the show is that everything that you create – when you talk about More Power to Publish, old schoolers will sit there and thing that’s a book. But a lot of other people understand that people like to eat their information in multiple formats – whether it’s Kindle or some other digital e-form, whether they like to listen to it or view it. Whatever it is, there are always six or eight other uses for everything you create.
Bob: I like to help people create books. I like to help them find out how to take their ideas and the vision that they have and turn it into something written that expresses what they want to express. There’s an art form in that.
I have friends who are book coaches and book strategists that are great at doing that, but in the process of teaching people how to do that, they can actually use that system as a metaphor and it doesn’t have to be creating a book. It can be creating a stream of knowledge that they can license, for example – a stream of training, a stream of videos.
Patrick: And all of that has turned into a stream of revenue, right?
Bob: That’s right. And that’s how you monetize your mind.
Patrick: That’s so cool. I know that we’ll talk about your More Power to Publish Workshop. That’s one other slide we have, and I’d love to look at that real quick.
Bob: And if they want to go to the website, www.MorePowerToPublish.com, they can find out more about the workshop that’s coming up May 17th-19th in Irvine, California. We have some really great experts, well-known people, who will be there pulling back the curtain and explaining this. We’re sure to have other presentations and formats of it because we’ll repurpose the content, of course, from that conferences and make it available to people.
Patrick: That is awesome. One of the things I’m going to go back to is the value of your mind. There’s a lot of information in that slide. What is it that you want to cover in this segment when you look at that slide?
Bob: I want to cover some of the different aspects. When people talk about the value of their mind or the value of the intellectual property that someone has in their head, they think of knowledge. It’s a lot more than just knowledge. Of course, as we specialize, as we learn, as we study our niche, we learn certain aspects of knowledge, but other people can learn that also.
But it’s some of the other things that are actually that create the value that we can monetize. One of them is experience. It’s one of the things that I discovered when I wrote my first book. I had it all laid out, step by step. This was More Power: An Entrepreneur’s Road Map to Success. This is what you need to do to be a successful entrepreneur. I turned it over to a wise book strategist and she read it and said, “You know, Bob, this is all true and it’s all right, but it’s really kind of boring.”
Bob: She said, “Why don’t you tell some stories? Why don’t you tell experiences that you had? When you talk about failing at something, why don’t you tell us what it was like and what happened when you failed and what you learned from it? When you succeeded and were extremely successful in one particular venue or avenue, why don’t you tell us about that? Tell us some stories. Tell us stories of other people.”
It’s actually our experiences that become very important. People love to hear the stories of how we did it and of how that happened. For our listeners, you’ve had experiences. You’ve had things happen to you that would be really valuable for me to hear about. You need to realize that your background and your experiences are valuable.
The next thing that is valuable is perspective. A person’s perspective can make all the difference in the world. There are people who have such an amazing perspective on the economic situation in the world. They might have a completely totally different perspective than I do on how to earn income from your assets. In your own field and in your own niche, you probably have some perspectives and some understanding, some wisdom, about your field that’s very valuable to other people. It’s important to take what our listeners have and help teach them how to pull that out, how to draw them out, and how to monetize that.
Patrick: Very cool. One of the things that I see in what you’re doing, Bob, that is really important is that you’re showing people the keys to creating great wealth from what’s between your ears. This is Monetizing Your Mind. We’ll be right back.
Patrick: Welcome back to Monetizing Your Mind. I’m Pat Dougher. The host of the show is Bob Bare. Bob’s a very successful entrepreneur and publisher. He’s really trying to give you keys to creating wealth from your creativity. So often we don’t realize the value of what’s between our ears.
With that, Bob, let’s go further into this.
Bob: One thing I want the people to understand is that you can learn some of the things we’re talking about. One of the other things I wanted to talk about that’s really important in monetizing your intellectual property is innovation. Some people love innovation. I love innovation. I don’t like to do things like everybody else. I like to come up with new ideas.
There are other people that find that difficult, but it’s possible to learn systems. It’s possible to learn how to be creative and how to be innovative. There are books on the subject. Sometimes working with someone and having training with a person is a lot better than a book because the person and you can go back and forth and stimulate thoughts.
In one of the books that I’m writing, rather than just sitting down and writing it, I’m having somebody interview me. The lady that’s doing the interviewing asks me questions that I would never have thought of. She makes me think. She makes it difficult, and it forces my mind to be creative to come up with answers. So one of the things that I like to teach people is forms of innovation that they can use.
Patrick: One of the things, even, with innovation and some of the things we’ve talked about thus far is that if somebody feels like, “Oh, I ain’t that creative. I can’t do that,” and you say, “Wait a minute. Do you know what? A lot of times it’s just placing yourself in a position where you’re around other creative people.”
You and I both have been part of Mastermind groups or coaching sessions where somebody will, like you say, ask you their questions or they’re ask questions about a way to break through what’s in the way that are so creative and so out of the box, it jolts you into a position of, “Ah, I get it,” and you have a breakthrough. Would you agree?
Bob: Yes, absolutely. But to be that way – to be innovative, to be creative – it really helps to set aside some time. So many times, with all of us, we get so tied up with the things we’re doing. We get so involved with the day-to-day running of the business that we don’t have time to think.
It’s actually a good thought to schedule some thinking time on your calendar. Take a couple hours off, set an appointment, and say, “I’m going to be gone here.” Go to Starbucks and sit down – not with somebody else – and just think. Those are when innovative and creative moments come, when you actually get away from the office and allow yourself some time to be creative.
Patrick: I think it was George Bernard Shaw who said that the most valuable thing that somebody can do that he gets paid that most for is to think, and so few people actually take the time to think. I think Henry Ford said something very similar, that the highest paid thing that he does is to think.
Bob: Another very important skill, Patrick, in monetizing your mind is communication ability. That is something that you can be trained in, too. You can receive training in how to relate to different type of people, how to communicate better, how to do presentations better. I like to teach authors that every author should be willing to become a speaker because today is a very relational society.
People want to get to know authors. They want to have a personal connection. Whether it’s a book signing or whether you’re going to an association meeting and standing up and talking to people, people want to get to know you. That should be a great compliment. If you can have someone come to you and want more of you, that is so much better than you having to approach people and try to sell them something. It’s important to have people want to get to know you.
Patrick: Even beyond that, for a lot of authors, one of the reasons they write the book – or hopefully they at least acknowledge this – is that they then can charge more fees because they’re the obvious expert. We do TV because it helps to show the authority that you have established because you know what you’re doing and you can help others.
Bob: One of the things I love to do is find something that someone is passionate about. I hate it when people are trying to monetize themselves by doing research and finding out where demand is, whether they’re into that or not.
If I can find out what really gets somebody excited – what they really want to talk about, what they really want to communicate about – and take that particular subject and get them going on that, that’s what’s in their head. That’s their intellectual property. That’s what we can really monetize.
Patrick: Even beyond that, I call it nine pound pearls. You’ve paid more than anybody ever should have to purchase that wisdom. We say we wish we could have paid for it by reading a book or hearing a tape or a cd or something. But for a lot of us, we had to walk through the experience. But once we do, now we’ve got the authority and – I hate to use the word “anointing,” but it’s kind of like that – that breakthrough concept that when you speak in that area, it changes lives and you become that spiritual bolt cutter for others.
When we talk about monetizing your mind, we’re talking about giving you tips and tools and techniques to create more revenue in your life. We’ll be right back on Monetize Your Mind. This is Pat Dougher.
Patrick: Welcome back to Monetize Your Mind. This is Pat Dougher. Today we’re talking about how creativity can create more revenue and wealth in your life because everything that you have purchased in the way of wisdom can be offered into the market place to be a diamond that can create real wealth in your life.
Bob, what are we covering this time?
Bob: Patrick, you were so right when you said I was going to try to cover too much. This is really important and to get this down – the fact and the understanding, first of all, that people have a lot of value in their experience, in the perception, and also that they can be trained and that they can learn ways to more effectively bring that out, ways to more effectively monetize it – is the first step to really have that understanding.
We were talking about communication ability. One of the reasons you need to communicate well is because when you create a team around you – whether that’s employees, partners, or just your vendors and the people you work with – they really help you monetize what you have to say. It’s other people that can add so much value and give you so many great suggestions.
You’ve done that a lot for me. You help me understand how to express myself. You help fit our program into the right time span, and it’s important. That’s why we want to keep going forward over the next few additions of this describing more ways and more concepts that people can take what they already know and make more use of it.
Let’s just mention a couple other things, and that is the fact of having connections with other people and networking. We know that’s important but it’s actually becoming more and more important because now our connections are spreading out so far with social media – with LinkedIn, with meeting people – it’s becoming very important who you know and who you get to know. It helps in being able to create new connections and to create new ways to monetize yourself.
Another important thing that you can learn is uniqueness. It’s like your mind is its own fingerprint. Each one of you has unique abilities, unique perspectives, and unique ways that you have something that you’re passionate about. You have something that you make an impact in the world with. You have something that you can make a difference in the world with.
I love when I can help people who have a message – a positive message, especially – that will help shape and change society for the better. One of the things I love to do is find people like you who have a message and want to make an impact with that message and help train you in ways that you can get that message out to people and you can fulfill your dharma, your calling. You can fulfill what it is that you have that’s important. There’s value in that. There’s value for you.
There are certain things that you need to give away, but then there are certain things that people don’t value unless there’s a price tag on it. It’s importance to know the difference between those two things.
Patrick: Yes. In a sense, people will take everything you give them, but why not take those nine pound pearls – those gifts – and offer them into the market place and send an invoice. Let somebody pay you for them. They’re worth a lot. You paid more than you ever thought you would for them.
Bob: And a lot of times the value you have is much higher to other people than what you realize. Another thing that I like to train people to do is to reach multiple people at once. One on one is nice, but if you really want to make an impact – if you really want your message to make a change and to reach a lot of people – it helps to be trained and have knowledge on how to expand and how to leverage the knowledge you have in your head so that more people are served and more people are helped.
I think it was Zig Ziglar who said that the way to really make a lot of money is to help more people. The more people you serve, the more you will be served.
Patrick: That’s right. I know that it has to do with the more that you are able to help people get where they want to go, you’ll be taken care of. You’ll do just fine. And that’s the thing when we look at what we’re doing with monetizing your mind. Taking that concept and bringing it to the market place is about giving people the opportunity to connect to you (www.MorePowerToPublish.com).
Use your knowledge and your gifting to create the wealth in your life. How many of us have been in positions where we would go to work at 8:00 and by 8:05 we’ve literally been reduced to an ooze that kind of slimes around the rest of day. By 5:00 we get to go home and our family gets that to recharge, and we go back and do that gain. Ouch! Hello?
That just doesn’t feel good. But when you get to roll your wisdom – things that change other’s lives – everything about you gets charged from that because you release your gift in the market place. And you people will pay you for those diamonds.
What’s so cool is when you get to earn what you really bring to the table. You earn that and get rewarded for the acres of diamonds that are between your ears. You can do that by connecting to Bob Bare at www.MorePowerToPublish.com.
We’ll be back next time with another addition of The Business Spotlight, but you can catch us here again next month with Monetize Your Mind, where creativity makes you money.