In this blog I’m going to talk about something which is called the “bling bling” effect. I will start by telling you where I first heard this. This was in a talk once by someone called Mac Attram. Mac is a successful business man and mentor and heads the “Yes group” in London, which is affiliated to Tony Robbins in the USA. For those of you who do not know who Tony Robbins is, well he’s the person who has coached people like Bill Clinton, Al Gore, Princess Diana and others.
The “Yes Group” do admirable things such as helping homeless people and people without food. However they are mainly there to help people realize their business goals and aspirations. I went to one of their meetings in Central London a while ago and thoroughly enjoyed it and can say that it’s a great place to network.
In a talk given by Mac, I heard him speak of the “Bling Bling” effect. Bling Bling as you can imagine refers to flashy jewellery. He mentioned this concept and I will expand on it in my own words. When people start off in their path to creating their own business, or if people have quite a bit of money already and are looking for ways to increase that, they will often come across people who will tell them of the most outstanding projects, offers, businesses, ideas and so on. These people will sound very convincing, sometimes with incredible detail (not all of it accurate) and most importantly will talk of how much money you can make from this.
- At times you will go to conferences and seminars and hear several or a whole number of different “outstanding” (seemingly) ideas all packed with intricate detail of “why they will work” that you will feel spoilt for choice and not sure which one to chose.
Success, and by success here I mean financial success, is not a short-term “Wham, bham, thank you mam!”, overnight process whereby if you sign up to a certain deal you can be making lots of money in a relative short space of time. Success takes time and effort. In addition it takes patience and resilience as inevitably there will be obstacles and setbacks. When you decide after careful research and evaluation to do something. Stick to it. Spend time every day, no matter how small or insignificant it may seem, towards realizing that one goal. Do not be distracted by enticing speech of money you can make here and there. On the other hand do not be totally closed-minded. However in general the focus should be to continue doing what you are already doing, and if by chance an amazing offer does come along, then carry out a thorough due diligence process, and only then go for it.
Due diligence is a technical term which simply means do your homework, find out carefully about the offer that you have heard about. Find out more about the company, or individual, product, idea, market and so on that you are interested in. Do not do things in haste or with the excitement (deliberately) injected in to you by the people who mentioned the idea to you.
In this day and age with the help of Google it is easier to do a due diligence process by finding out information about the company, person and so forth.
So what that means is you do not have to be a total Sherlock Holmes to deduce whether someone is completely accurate or not as Google will help you with that.
If you are already working on one business, only do something else if it does not significantly detract from what you are already doing and also only if you yourself fully understand what it is about and can explain it to a 12 year old. Do not be bamboozled by amazing language, incredible detail and conclude “all these facts, figures, numbers and glossy leaflets or power point presentations” must mean these people know what they are talking about. Some people become so excited, and so convinced by “information” and “facts” above their head which seem so intricate, that it therefore must be true. If you do not understand, don’t go for it. Don’t let false notions that you might be missing out on something amazing, lead you to making a mistake.
Not all that glitters is gold.
– Jahan Choudhry