If you exchange gold for dollars, you receive dollars, but your gold is gone.
But if you share your wisdom even without any expectations then:
- Your intelligence sharpens;
- Your understanding multiples;
- Your perception expands;
- The listener gets enriched.
A service business, no matter if you are a practicing doctor, engineer, or a consultant, is like gold-trade. You (or your people) sell time for dollars.
While a product business is like wisdom-exchange, you sell a reusable unit of your visualization married with your risk-taking abilities. You get dollars, but it costs you a fraction of time, and hence, it can be exponentially grown!
Often, a service business is more exciting and tends to attract employees and customers, whereas a product business is usually dull and requires continuous learners and hustlers to be in the grind (and get unimagined benefits in many cases).
Investors want to invest in businesses that have the potential to grow exponentially. It is not about their liking, but it is about the design of how the investment business works no matter the mode of investment.
- As a founder, you decide you want to do what? Trade of wisdom or gold?
- As an employee or professional, you decide with which company you want to work? Where you can learn to be wise, or you can learn how to trade gold?
Know that the investors are not in the gold-trade. Although it is possible to “productize” a service business!
Think for yourself!