February 23, 2010

A song, a voice, a contest


There’s a line in Dylan’s It’s Alright, Ma (I’m Only Bleeding)

That goes, “Money doesn’t talk, it swears.”

Though I was seventeen when I first heard it—and I haven’t heard it in ten, maybe thirteen, years—it came to me this morning.

Does that happen to you? Awaking to snippets of songs jangling in your head?

No?

Well, anyway…

The lyrics came to me, I guess, because of this post.

This post about another type of voice.

Not a singing one, this one.

More a foreboding one.

Dire, maybe. Pleading, even.

It’s a voice that, I believe, we all heard growing up.

And, it’s a voice we may have adopted now, perhaps as we address our children.

It’s a voice about money.

It’s a voice cementing our beliefs about money.

And it’s a phrase that, because we heard it from such a young age, we just accepted as true.

You know what I mean?

A mantra spoken over and over, often as an epilogue to a financial request.

“Waddya think, money grows on trees?”

“What am I, made of money?”

Or, one of my favourites,

Yes they might have money, but are they happy?”

If you chuckled as at any of that, it’s likely because you heard the voice too.

But, have you ever paused to consider the impact of that voice? Of those words?

I sometimes do it with friends, family—or clients, even.

Especially when they confide about their business’s dismal (or surprisingly, at times, uncomfortably lavish) financial state.

I ask them to remember that voice, recall its warning—in heavy, apprehensive tones—about the role of money.

And I then ask whether they still believe the voice (most do).

(Which, by the way, is another, important, reason I keep saying that it’s not about the money, but, rather, the discernment—the perception—of money).

You can make a game of it too.

Sit with friends and compare those voices.

See what comes out.

Then, later, laugh about it.

Shake your head.

But remember; those voices—and the words they relayed—are embedded. Deep down.

And many times, they still carry influence.

Leaving you to wonder why you can’t stop from picking up every penny lying by the wet, dirty curb… (A penny saved is a penny earned…. Look after the pennies and the dollars will look after themselves).

Or what compelled you to buy both an iPhone and an iPod Touch… (Oh you, money’s always burning a hole in your pocket).

Well, anyway…

Here’s what I’d like to do.

Have a contest.

I’ll give away a free book (my book, The Net Present Value of Life—in case you’re wondering) to the person who posts the funniest, or most thought-provoking, comment about money. It’s ideally something you heard while growing up. Maybe something a parent said when you asked for money. Or a line a family member recited over and over. Or maybe something you, quite simply, overheard. Please remember, as best you can, to put your reply in context.

Oh yes, the rules:

i) Contest starts today and ends on March 5, 2010 at 5:00PM (Eastern Canada time,  GMT -5)

ii) Contest open to all residents of Canada, USA, UK and Europe with an easily accessible postal address

iii) Prize to be delivered to the lucky winner via regular parcel post (delivery could take a few weeks)

iii) Lucky winner agrees to be identified (name and city/country of residence) in a blogpost, or other social media

iv) Lucky winner also agrees their comment may, at my discretion, be used in a blogpost or other social media

v) Contest is completely subjective and winning entry is selected by yours truly, based on the entry that makes me laugh the hardest, or gets me to ruminate the most

vi) There is but one winning entry. No prizes for runners up, or runners of runners up…

Is that okay? Fair enough?

Good luck.

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January 22, 2010

It’s not about the money


Every word is true.

In the title, I mean.

Every word there is true.

Yet, many are left doubtful,

Skeptical.

Suspicious too.




Business owners, financial professionals and Type-A  go-getters tell me again and again;

“It’s always about the money.”

To which I reply, “It never is.”

Sometimes, a debate ensues—a tiff unfolds.

Waddya mean?”

“You don’t know what you’re talking about!”


It’s hardly worth it; a contretemps with those Type-A, hard-nosed, types…


Have you ever come across an individual (or a business) always broke?

I have.

In a past life (as a financial advisor to business owners), my task was to guide individuals (and businesses) past that cash-poor stage.

To implement budgets; monitor cash balances; set up bank loans.

That was my job.

It hardly helped.

So many—too many—found their way back to impoverishment.


“How is it?” I wondered,

“That no matter how hard we scrutinize numbers—how meticulously we plan expenditures—too many clients return to their “help me, I’m broke” state?”

Undaunted, I’d try again. Climb the slippery slope.

And slide back down again.

It was only later that I discovered what I’ve already told you.

It’s not about money.

It never is, in fact.

When a pattern of repeated, never-ending, fiscal train wrecks occurs—over and over again.

It’s never about the money.

It’s about the discernment of money.


I discovered something else too.

Nothing is ever the way it appears.

Or, as I prefer reciting it,

“It’s not about what it’s about.”

Hopeful lovers repeatedly barrelling into doomed relationships.

Ex-smokers repeatedly finding a lit ciggie wedged between stained fingers

Wannabe exercisers repeatedly promising, “Tomorrow, for sure.”

It’s not about any of those.

It’s about something else.

Always something else.


It’s in the book (my book).

Available now.

An obvious plug.

That’s what this paragraph’s about.


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August 26, 2009

Profit and social responsibility. Mutually exclusive?

I’m fed up. I’m really fed up of the business bullshit—the attitude and the rampant narcissism, the lingo and the catchy acronyms, the stance and the phony dance.

Business today, contrary to its supposed intent of exchanging a sound product for an honest dollar, has become entertainment. A diversion, an aspiration, and a television show.

For how long, I wonder, has business been fashionable? Was business always fashionable and it was only me who hadn’t noticed?

For how long, I wonder, have self-important CEOs and money managers been vedettes—celebrities and icons? What, other than their ability to amass (and then blow) a fortune, makes them more important—more notable and more readable—than the workingman (and woman)?

How long ago did the pursuit of money, and nothing but the mere pursuit of money, become so admired? Something to talk about, something to broadcast and write about—in envious and respectful tones.

Why does the press, and the business press in particular, gush with glee over business rationalizations, business mergers and blockbuster buyouts? Do they know—really know—what that means? What it implies?

More importantly, though, what has all this fascination and emulation wrought?  Ponzi schemes and fraud. Cooked books and sorrowful failure.  Madoff and WorldComm. Nortel and GM.

It’s time, I believe, for a rethink.

It’s time to reframe what big business and big finance are supposed to be about.

Just as social media is redefining the dissemination of information, perhaps it, too, can reset the metrics of success.

Rather than obsess on the bottom line, business—and big business in particular—should keep only one eye on that. And the other on responsible customer care, responsible innovation and responsible governance. Rather than growing the business by buying out large competitors (and assuming ever-more debt), corporations should grow their social consciousness with responsible, empathetic action.

After all, is it a given that profits and social responsibility are mutually exclusive?

Only in the hearts and minds of big business, I fear.

Is it time for a change? Is it time to end big business’s seemingly contradictory attitude of narcissism (when they’re profitable) and entitlement (when they’re not)? Yes I believe it is.

Do I expect things to change? Maybe one tweet at a time…

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July 18, 2009

5 ways to know you’re rich

It happened again—an email landed in my inbox guaranteeing me another sure-fire way to make millions. There are, it appears, a lot of people interested in my balance sheet and my financial position—total strangers, concerned about my wealth. Imagine that.

But had any of them read my prior post, they’d have realized they’re wasting their time. The reason, you see, is that, while there is a pervasive belief that life would be so much better with so much more money, I happen to be in a minority position that believes it’s not about the money. Now, don’t get me wrong. I’m not saying I don’t need money, or money’s evil, or anything like that.

What I am suggesting, though, is when we discuss money, what we’re really revealing is our attitude, and our perceptions, about money. That premise of mine, by the way, gets challenged. A lot.

Imagine my surprise, then, when I found this on telegraph.co.uk “A brain scan study has shown that no matter how wealthy you are, money is most rewarding if you have relatively poor friends, peers and colleagues.”

The Telegraph’s article describes a scientific experiment that used scanners to measure the part of the brain where a person’s “reward centre” is located. In their study, scientists discovered that when a participant won money, it triggered a noticeable increase in their reward centre. What was surprising, though, is those same participants registered an even more marked increase in their reward centre when they got more money than anyone else.

All of which, I believe, reinforces the suggestion that it’s not about money, it’s about being richer.

And so, with that in mind, here’s my unscientific list that identifies…..

5 ways to know you’re rich:

1)      Do you earn at least $25,400 per year? Based on statistics from the World Bank, 90% of the world’s population would agree that you’re rich. If you earn more than $33,700 you’re in the top 5% of the world’s income earners.

2)      Own a computer? If you do, you’re rich. Almost 91% of the population can’t afford one

3)      Own a TV? 75% of the world doesn’t. Televisions, I guess, are the trappings of the rich.

4)      Made a phone call recently? Did you know there are about 2 billion people who have never used a phone, ever? Want to feel rich? Just pick up and dial.

5)      Own a car? You, my friend, are rich. 90% of the world’s population can’t afford that privilege

You see? It really isn’t about the money.

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