I don’t usually suggest that you ignore the advice of the person who is an ‘expert’ in their specific field.
If you recall, in yesterday’s article I mentioned that if someone who is successful is teaching you and they say you should do a specific thing as part of a system or process, you should do it.
You’d be a fool to not follow their advice.
However… not all advice is equal.
Sometimes, the experts in a specific field can become so focussed on what they know and see as important, they struggle to see the bigger and better picture.
I was reminded of that recently while watching the documentary Glastonbury: 50 Years And Counting.
Unless you live under a rock or you are reading this email overseas, you cannot have missed the fact that the Glastonbury Festival happened again this weekend.
It is usually held on the last weekend of June.
The BBC became the GBC for the weekend with hours of live Glastonbury performances and related shows on their iPlayer app.
For those who don’t know anything about the Glastonbury Festival, it is a huge music festival held in Somerset here in the UK.
Started in 1970, it is now classed as a Performing Arts Festival because it has so much more going on than just music performances.
It has grown to become one of the world’s biggest and most popular festivals with around 138,000 people attending each year.
In the documentary Glastonbury: 50 Years And Counting, the festival owner Michael Eavis, 86, was interviewed about the history of the festival where he talked about certain events during the festivals history.
At one point he talked about how in the early years of the festival, a disappointing turn out had his bank manager advise him to quit before it cost him a lot of money and broke him.
Looking at the footage of the festival this year and all of the years since he was given that advice, I can only assume that he ignored his bank manager.
A very wise decision indeed!
Michael had a big vision.
He wanted to put on a festival which had a purpose.
That purpose was to raise money for specific causes such as CND, Greenpeace and Water Aid.
He wanted to use entertainment and music to raise money to help other people.
The Glastonbury Festival raises around £2 million each year for humanitarian and environmental charities.
It is safe to say that the world would be a far different – and a lot duller – place had Michael Eavis followed the advice of his bank manager.
Ignoring it was probably the best decision he has ever made.
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The Glastonbury Festival is now a part of modern British culture in the same way as Wimbledon.
The biggest names in music have performed there in front of thousands of festival goers and millions of viewers tuning in from around the world.
It is a huge success despite being told that he should have quit many years ago.
If there was ever an example which gives you a solid reason as to why you should be careful as to what advice you take, this is it.
It’s up there with The Beatles ignoring Decca’s A&R man who said that they would amount to nothing insisting their sound was outdated and ‘on its way out’, and JK Rowling who carried on despite her Harry Potter story being rejected twelve times.
I’m sure Michael Eavis’ bank manager was great at what he did which was looking at the figures in front of him at that time…
But that is where he becomes the problem. He is looking at the figures which are in front of him on that day.
Those figures are based on what happened in the past.
He can look at past events and look at what the results were from those events and project a possible outcome that would follow if things didn’t change… but things can and do change.
And we humans can work damn hard to create those changes which a bank manager cannot see or use in their sums.
Michael did right to ignore his bank manager due to the fact that there is a year between each festival and a lot can happen in a year… if you chose to make it happen.
A bank account is very often a reflection of your past actions and so if you spend a year working hard at something, what could be classed as a disaster the previous year, could become a huge success the following year thanks to your hard work and persistence… making your bank account look a lot different to the previous year.
Just because the finances looked bad after one festival, it doesn’t mean that it would be twice as bad the following year.
You cannot necessarily predict what would happen if you do things differently.
Yes, if you do the same thing as before with the same amount of effort and try nothing new, then you could quite easily predict the right outcome… but only a fool would do the same thing again which originally lead to failure.
You don’t need to be a bank manager or an accountant to know that if you lost a lot of money doing something and the same thing happened again, you will lose more money.
That is obvious.
It is your job to ensure that the same thing doesn’t happen again.
As an example:
In the 1990’s, tens of thousands of people scaled the security fence gaining free entry to the festival causing overcrowding and safety fears as well as annoying those who had paid a large fee for their tickets.
To prevent it happening again and to prevent a possible tragedy happening with large fines, lawsuits, and risking being shut down, Michael Eavis changed the fencing system and improved security.
This put a stop to the problem and prevented the festival being closed for good.
To prevent the same problem from reoccurring, he made changes to how they did things.
This is where those who just look at figures often fail because they cannot, and don’t account for changes and increases in human effort and efficiency which can change how a project finishes.
Just a small increase in effort can amplify the results considerably.
Spending half an hour each day working on a project is going to reap more financial rewards than not doing anything, that is obvious… yet half an hour is nothing when you stop and think about it.
Looking out of my window the other day I saw two dog walkers stood chatting and they were there talking for half an hour at least.
30 minutes flies by, yet if you had used that amount of time working on a product building a fully automated passive income system, you could have a system in place ready to make money in as little as 30 days… maybe less.
30 minutes per day over a 30 day month will result in 15 hours of work… people have created products which have earned them thousands of pounds in less time.
Spend an hour or more each day working on your project and you will either have your product finished faster, or a far superior product which can command a higher price.
It is all about getting started and being consistent.
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Kind Regards
John Harrison
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