I’ve been reading the book, The Einstein of Money, about the legendary investor — the inspiration for Warren Buffett and countless others — Benjamin Graham.
While I’m not personally an active investor in anything but guitars, a couple of cars, and rare books on marketing and metaphysics, I wanted to learn what this icon had to say about money.
As I was reading it, I was reminded of my own formula for attracting more money.
It goes like this:
Profit = P + P.
I failed algebra in the ninth grade (retook it with a different instructor the next year and got straight A’s, thank you for asking), so my formulas are simple.
They need to be, so I can understand them.
Mine goes like this –
Profit equals your Passion plus the Public’s Interest.
Here’s an example:
Waaaaay back in the early 1990s, I was inspired to learn all I could about Bruce Barton, the now forgotten ad man of the Roaring Twenties, cofounder of BBDO (the giant ad agency), a bestselling author of many books, including The Man Nobody Knows (still in print today), and so much more.
I was fascinated and mystified by the man, his enormous successes, and the strange reality of his being virtually forgotten by the 1960s.
All my research led to my writing a book that became (and still is) one of my most popular ones.
So let’s see how the formula worked in this case:
My Passion urged me to investigate Bruce Barton.
There was no rhyme or reason to it.
No contract from a publisher.
No one paying me. (I was in fact broke at the time and struggling.)
From outer reality, there was no evidence at all that a book on Barton would go anywhere.
But I followed my passion anyway.
When it came time for me to title the book, I knew the Public didn’t care about Barton.
After all, he was already forgotten by the 1930s and dead by the 1960s and a footnote in advertising today.
The Public would not buy a biography of Barton.
What would the public buy?
What was their interest?
I knew from my own interest in self-help, self-development and success literature, that the Public has a solid, always hungry interest in success.
So I titled the book The Seven Lost Secrets of Success.
I used the formula of Passion (my interest in Barton) and added Public (their interest in Success) and created a new product (a retitled book).
But did it lead to Profit?
The book was first published in 1992. It quickly went through numerous editions, being sold to my mailing list at the time (this was before the Internet, so it was all snail mail).
One mutilevel marketing company loved it and bought 19,500 copies of it for everyone in their business. (!)
Later, a big publisher bought it from me and published it.
It’s still in print today.
So, yes, it led to Profit.
The formula works
The problem with most people is that they never focus on passion to begin with.
They just chase money.
Money is a lousy motivator.
Passion, on the other hand, is real fire.
But when people follow their passion, they often forget to think of what the public wants.
The public pays for it, so you need to tie your interests to their interests.
You have to find the intersection of your passion and their desires.
While someone later came out with a biography of Bruce Barton, it did not sell well. I’m glad Barton got the attention and respect a biography gives, but from a Profit standpoint, thinking of what the Public wants is wiser. (Actually, if you look at the subtitle of the biography on Barton, you’ll see that the author tried to widen his reach to appeal to the public by not just writing a biography of Barton, but by making it about America itself.)
Here’s my formula again —
Profit equals your Passion plus the Public’s Interest.
A lot of my thinking about this developed decades ago, when I read a little book from 1928 called, How to Profit from that Impulse. While that 68 page book, which was about poetry, didn’t reveal any formula that I remember, it got me thinking about how to profit from your passion. That led, in time, to the formula I just revealed to you.
I’ve applied this same formula to my music.
When I decided to become a musician, I did enough research to shockingly discover that there are 3,000 new albums released weekly. (!)
That’s overwhelming competition.
How would I ever stand out in the crowd?
I looked at my Passion (making original music), thought about what the Public wants (to be healthy and happy), and opted to become the world’s first self-help singer-songwriter.
My Product/Profit became a new category of music that I call Healing Music.
This has paid off with seven albums so far, all doing well enough for me to be encouraged to make more. (And I will, including me playing the saxophone on a future album.)
As you can see, the formula works.
You just need to apply it.
Here it is one more time for you to ponder —
Profit equals your Passion plus the Public’s interest.
I’m still reading The Einstein of Money, but doubt Benjamin Graham had much to say about my formula for success. And remember that even high rollers and big time investors are often motivated by something other than money.
As Donald Trump once said –
“Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.”
Play the game of attracting money, try out my P=P+P formula, and see what you think.
PS – Want more? The definitive audio course on attracting money is still The Secret to Attracting Money.
thank you……. would really love to work with u, now itz up to u to decide… no matter wot I still like u as I’m truly grateful to u for the rest of my life for shedding light on me…
Its great that you want to work with Joe Vitale
But what are you offering? What is your proposal?
Do you think just because you said “I want to work with you but its up to you”
he is going to run to you?
People are busy. Dont make people (especially someone as successful and busy as Joe Vitale) to come to you. Go to them with an amazing win/win proposal, and then if its the right time and in accordance to his vision, he will work with you.
It astonishes me how so many people will put a comment on the blog of someone rich and famous saying things like
“I have something for you. Get in touch with me”
“I want to be rich. Please contact me and teach me”
They are coming from a place of laziness and selfishness
I was like this. I expected things on a platter without offering anything of value. But thanks to the books of Joe and others I realise that I have to offer value first.
Start reading the book “The go giver”
its available on amazon.com
The Go Giver is a fantastic book! I reread it on a regular basis, just to remind myself of its wisdom.
I agree with you about so many coming from a place of laziness and lack. I made a comment about this on the post about the Illuminati.
I love this post! You are so very right, people with a passion in the heart have a different aura :). They speak from the heart, they explain things passionately, they feel good that they have the chance to talk about their passion with other people that show the same interest or would like to learn more.
I guess we are all teacher at our core :). And it’s wonderful when we have the opportunity to share those teaching, to inspire others.
Superb. …undoubtedly genuineness
Magnific… Thank You for the Oppotunity to Inspire me.
I’m realising, thanks to inspiration from Joe, that a lot of what the public want to see from you (in life and business) is the spirit and bravery to take on a mammoth task, to stare down the seemingly impossible, and make it a reality.
The fact I’ve been directed to this post, at this exact point in time just serves to prove that alignment, and natural flow are tools that work. As long as you have something to work on. THAT can be manifested, just open your mind.
Love and gratitude.
As always, a delightful post. Your formula rocks. It works, I can attest. May I suggest that you add another P to your formula? It’s related to Passion, but in my view is different, and equally important. It’s Prowess. Mastery. Ability. Competence. Pick your choice, but without having a skill to deploy your Passion is potential, at best. In your case, your Prowess is writing. So you were able to deploy this skill in creating and marketing a product (book), which appealed to the public’s interest. Thanks for your commitment in growing yourself, facing your fears and leading by example. –Glenford Smith
As a follow up to my previous Comment suggesting you add “Prowess” to your Profit = Passion + Public’s Interest formula, I’d like to add…
I’ve discovered that many people know what they are passionate about. They even grasp your crucial distinction about the need to connect with the public’s interest. But they never take the time, or develop the discipline to attain mastery in creating a specific product to offer the public. In other words, they haven’t created a solution to a problem the public is facing. So, they have the passion, but isn’t able to practically help the public. As you and many other success teachers have said, success is a function of meeting other people’s needs. I believe that means a specific product, service, something. You are a great example, here, if readers care to study you. I have, for over ten years, incidentally. You have created books, Nightingale audio programmes, seminars, Miracles Coaching Programme. You write this excellent blog. You have and continue to create musical albums that people can buy and enjoy. So, yes, you are tapping into your Passion, but is serving the Public through practical solutions to the concerns they are most interested in. Keep up the good work!
I’ve been an ardent student of yours for many years, and have benefited enormously from your work and example. God bless! –Glenford Smith
Thank you for being you. For many years your work has been an inspiration, not only to me but to countless others.
I have to be honest – I keep trying to not like your message.
So many go after the empty promises of just money.
The single most effective clearing method I’ve ever been blessed with is Ho’oponopono. (A mysterious little book came upon my path … I’d be happy to share with you anytime.)
We come from a similar place – the zero point. What a gift.
Trying not to like your blog, I clicked. (I admit it.)
Same thing with your new album. Just a quick listen …
reminds me of Johnny Cash, old soul haunting melodies laden with timeless wisdom.
Dare something worthy, indeed.
thank you, joe
Can’t wait to work with you
This is one of the best explanation about getting profits I have ever read. Simple and clear.
Thank you Joe!