100-Year-Old Advice For Entrepreneurs Today
From the Recaps Archives posted on 4/27/2019
100-Year-Old Advice For Entrepreneurs Today
By Christine McAlister
3 lessons from a little-known genius
“Making chalk mark on generator: $1 Knowing where to make mark: $9,999.”-Charles Proteus Steinmetz
Have you heard the story of the man who identified the cause of Henry Ford’s broken generator and charged him $10,000 — roughly $150,000–200,000 in today’s dollars — for this seemingly simple service?
Charles Steinmetz, circa 1915 (Image courtesy of Wikipedia)
My great-great Uncle Howard worked for Henry Ford and was witness to this event, and my dad got to hear this tale told at every holiday gathering growing up.
Why do I share this legendary lore now?
I believe Mr. Steinmetz has a lot to teach entrepreneurs today.
Here are my three 100-year-old lessons I think all entrepreneurs today can learn from Mr. Steinmetz.
Lesson #1: Value Your Zone Of Genius
If you’re a service provider, you have probably been guilty of devaluing your work before.
It happens innocently enough. The fact is, when what we do is so easy for us and we get so much joy and energy from doing it, we tend to not place as high of a value on the actual process of completing it — and one way that often shows up is that we have a hard time charging premium prices for it!
“Why tip someone for a job I’m capable of doing myself? I can deliver food. I can drive a taxi. I can, and do, cut my own hair. I did, however, tip my urologist, because… I am unable to pulverize my own kidney stones.” — Dwight Schrute, The Office
Our favorite fictional straight-shooter summarizes this well. Dwight clearly places a higher value on something he himself cannot do. The problem comes when we do not place a higher value on what we do so well, because we forget that it doesn’t come as easily to others.
Have you ever felt or thought something like this?
“I would do it for free; so it feels weird to charge someone for it!”
“Can’t everyone do this? It’s so easy for me!”
When something comes so naturally to us and we love doing it, it DOESN’T mean that everyone can do it; it means that it’s very likely our Zone of Genius, and it is the very thing it would be wise to double-down on offering and charging for.
Have you found yourself saying these same things? How have you overcome them, or how will you begin to shift them now?
To continue reading, please go to the original article here:
https://medium.com/thrive-global/100-year-old-advice-for-entrepreneurs-today-d8fad36256b1
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
VELOCITY OF MONEY - From Virginia Gentleman
I know I don’t have to state the obvious …GO HAVE FUN WITH SOME OF YOUR NEW FOUND WEALTH. However, I would like to pass on some words of wisdom.
As we get ready to punch it in, please remember to act like you’ve been in the End Zone before. Take a deep breath and exhale slowly as you collect yourself with the full intentions of acting with class and integrity.
Respectful treatment of others will be an inherent responsibility of your new status, as well as respectful treatment of your money and assets. You owe this to yourself, your family, your neighbors, and your heirs.
(Dinar Recaps Note: This post is for informational purposes only. It is not legal, tax or investment advice. Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.) Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records!
Iraqi Dinar Breaking News: How to Prepare for a Last-Minute RV, Go Bag Essentials
Wed. 4-30-2025
The air is thick with anticipation, fueled by whispers and rumors of a potential revaluation (RV) of the Iraqi Dinar (IQD) and Vietnamese Dong (VND).
From Recaps Archive by request……..
Note: All items on the checklist may or may not apply to your own individual circumstances…some of the items listed may or may not still be applicable at your exchange apt....ask your banker at the time of your appointment.
Suggested Bank appointment for Currency EXCHANGE Instructions/Checklist
For your own records
Bank Name_________________________________________
I have________________________ IQN(Iraqi)currency
From Recaps Archives
Keep Believin' In The Unbelievable! by Dr. Dinar
Sheesh. They can put a man on the Moon. Or at least we think they can anyway.
Could've been Hollywood magicification for all we know.
Without a doubt the lighting situation was highly suspect.
But let's go ahead and give 'em the benefit of the doubt, just for the sake of discussion.
From Recaps Archive by request……..
Note: All items on the checklist may or may not apply to your own individual circumstances…some of the items listed may or may not still be applicable at your exchange apt....ask your banker at the time of your appointment.
Bank appointment for Currency EXCHANGE Instructions/Checklist
For your own records
Bank Name_________________________________________
I have________________________ IQN(Iraqi)currency
Occasionally Dinar Recaps will be posting Exchange Tips and information from our archives for our newest readers that may be helpful for you at our exchange appointments and Post RV. Not all information may apply to you and your personal situation…..Take what you like and leave the rest: Some you may want to save for your own personal records! We hope all our dreams come true very soon ~ Your Dinar Recaps Team
Possible Bank Perks to ask for at your Exchange Appointment .
AUM - Assets Under Management
1. No fees ever for foreign currency exchanges
From Recaps Archives
Services You Get As You Get Richer
1. Housecleaning Services (Your time is worth more than the effort it takes to maintain your living space)
2. Personal Trainer (Reduces stress, improves your health)
3. Personal Chef (Customize your nutrition. Saves time from planning/cooking)
4. Advisors in All Areas (Attorneys, tax planning, estate Planning, etc.)
(Note: This Article can apply to Lotto-Winners, A Big Inheritance and Dinarians!)
This story appears in ESPN The Magazine's Dec. 8 Big Money Issue.
HERE'S A CHALLENGE: Imagine what it feels like to be 21 years old, extremely successful, famously wealthy, wildly stressed and unbearably miserable. How, you might wonder, can all those conditions exist simultaneously?
Start here, with Cowboys All-Pro offensive tackle Tyron Smith, talking to his mother on the phone one day in 2012, his second year in the NFL, during a time of growing tension between him
"We've found a house," Frankie Pinkney told her son.
From Recaps Archive
*A Source Is A Source* By Dr. Dinar
We've all heard the song "Whatever Gets You Thru The Night" by the amazing John Lennon. Combined with the talent of Elton John on backup vocals and piano, that song had all the ingredients, a recipe for a "win" if ever there was one.
After nearly a decade on this journey to the RV/GCR, it's pretty much come down to just that. Whatever it takes to help get you through the night and on to the next day. The next week... the next month.
To simply hang in there, especially during the toughest of times, when hanging in feels like the last thing you have the strength to do. Yet somehow we all have to muster the strength to hang in there and cross that finish line, shoe box full of currency held high.
From Recaps Archives
Note: All Dinarians should read this.....So it will NOT happen to you!
Investorchick at TNT: Lotto Winner Loses It All
I had the pleasure of meeting a very charming senior in the last few weeks. It's my friends mother and this lady is in her 70's.
She won 5 million dollars in the year 2000. I saw a copy of the cheque on the fridge at her son's house. I did a double take because I've never seen a cheque that large.
From Recaps Archives
Keep Believin' In The Unbelievable! by Dr. Dinar
Sheesh. They can put a man on the Moon. Or at least we think they can anyway.
Could've been Hollywood magicification for all we know.
Without a doubt the lighting situation was highly suspect.
But let's go ahead and give 'em the benefit of the doubt, just for the sake of discussion.
DON’T QUIT
When things go wrong as they sometimes will, When the road you’re trudging seems all uphill,
When the funds are low and the debts are high, And you want to smile, but you have to sigh.
When care is pressing you down a bit- Rest, if you must, but don’t quit.
Iraqi Dinar Today Video Update Tuesday AM 5-28-24
WOW JP Morgan Chase Bank & World Trade Organization Approved – 4:40
WOW Its ,Massive New exchange rate Set 3.86$ - 5:11
Chase Bank Wonderful Announcement On IQD New Exchange Rat – 4:48
Congratulations ✅ Revaluation Done Go And Your Dinar & Dong On New Rate – 4:23
Iraqi Dinar Video Update Thursday Evening 5-23-24
PM Of Iraq Announced New Rate – 3:10
Chase Bank Announced About IQD RV - 4:14
Iraqi Dinar International Revaluation - 4:56
Iraq Currency Printed New Notes IQD RV – 4:32
From Recaps Archives
15 Things To Do If You Get Rich All of a Sudden
In this Alux.com video we'll try to answer the following questions:
What should you do if you get rich all of a sudden?
What do to if you inherit money?
How to manage a large sum of money?
What should you do if you get rich?