The video presents a transformative personal story centered around the speaker's encounter with Earl Schoaf, who becomes a pivotal mentor. At the age of 25, facing financial struggles, the speaker meets Schoaf who imparts wisdom that dramatically changes his life, emphasizing the importance of personal development and a shift in perspective about earnings and success.

The speaker reflects on Schoaf's mentorship, revealing lessons learned about how success is not merely about working hard but becoming valuable through personal growth. Schoaf's teachings highlight the contrast between pursuing wages and creating profit, advocating for developing oneself to attract success. These principles encourage a mindset focused on personal changes rather than changing external circumstances.

Main takeaways from the video:

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Key Vocabularies and Common Phrases:

1. transformative [trænsˈfɔːrmətɪv] - (adjective) - Causing a marked change in someone or something. - Synonyms: (revolutionary, altering, metamorphic)

The video presents a transformative personal story centered around the speaker's encounter with Earl Schoaf.

2. personal development [ˈpɜːrsənl dɪˈvɛləpmənt] - (noun) - Activities that improve awareness, identity, talents, and potential. - Synonyms: (self-improvement, self-growth, self-development)

That was the beginning of what he called personal development.

3. philosophy [fəˈlɑːsəfi] - (noun) - A theory or attitude that acts as a guiding principle for behavior. - Synonyms: (belief, doctrine, ideology)

Your income is directly related to your philosophy, not to the economy.

4. extraordinary [ɪkˈstrɔːrdəneri] - (adjective) - Very unusual or remarkable. - Synonyms: (exceptional, phenomenal, astonishing)

His name was Earl Schoaf, and he dropped into my life at an extraordinary time

5. wages [weɪdʒɪz] - (noun) - Fixed regular payment earned for work or services. - Synonyms: (salary, pay, earnings)

wages make you a living. Profits make you a fortune.

6. perspective [pərˈspɛktɪv] - (noun) - A particular attitude toward or way of regarding something. - Synonyms: (viewpoint, outlook, viewpoint)

Schoaf's teachings highlight the contrast between pursuing wages and creating profit.

7. marketplace [ˈmɑːrkətpleɪs] - (noun) - The arena of commercial dealings. - Synonyms: (market, trade, bazaar)

The key to understanding economics is that we get paid for bringing value to the marketplace.

8. graces [greɪsɪz] - (noun) - Elegance or beauty of form, manner, motion, or action. - Synonyms: (charm, elegance, poise)

Work hard on yourself and develop the graces, all the stuff necessary to become more valuable to the marketplace.

9. scenario [səˈnæriˌoʊ] - (noun) - A sequence of events, particularly one that's plausible. - Synonyms: (situation, sequence, context)

I find the scenario of the story absolutely fascinating.

10. valuable [ˈvæljʊəbl] - (adjective) - Having great worth, importance, or usefulness. - Synonyms: (precious, esteemed, significant)

We put some of the valuable things on the high shelf

Jim Rohn - The Inspiring Story of a Farm Boy from Idaho - Motivational Speech

As you know my story, I met someone when I was 25 years old. His name was Earl Schoaf, and he dropped into my life at an extraordinary time. So key timing has a lot to do with it. And who knows? Part of the mystery of time is the timing. Part of the timing was that I had just had an experience that I've shared in other seminars. A girl scout knocked on my door and I walked to the door. She gave me the big pitch on the Girl Scout cookies. Best organization in the world for girls, several flavors. Time to buy the cookies. Only $2. With a big smile, she very politely asked me to buy. No problem. I wanted to buy. Big problem. I didn't have $2 in my pocket, and I didn't want to tell her that. So I did what I thought was the next best thing. I lied to her and said, hey, look, I've already bought plenty of Girl scout cookies. We've still got plenty in the house that we haven't eaten yet. She said, oh, that's wonderful. Thank you very much. And she left.

When she left, I said to myself, I don't want to live like this anymore. I mean, how low can you get lying to a girl scout? That's low down. I told myself that day, this will never happen to me again. It was one of those experiences called life changing. I said, I'm going to search until I find better opportunities. So my pocket won't be empty, the bank account won't be empty, and I won't be so far behind on my promises to my family.

Shortly after that, I met Earl Shoaf, who taught me how to be wealthy and how to change my life. So who knows what the connection is, right? Someone says when the student is ready, the teacher will appear. I don't know all the mysteries of that, but it seems like some of those things uniquely happen. Mister Shoaf, over a five year period before he died at age 49, taught me some extraordinarily simple things. He only went to the 9th grade in school, never finished high school, never went to college, never went to university. He put his ideas and experiences in very simple language, which was so important for me, a kid from the farms of Idaho. If it had been technical, I'd have missed it. If it had been mystic, I would have backed away. But it was just basic, blunt, ABC, familiar stuff that I hadn't thought of before he started to remind me. And those ideas changed my life.

Mister Shoaf was the one who, when I said, this is all they pay, replied, you've been working six years, Mister Roane, how come you're not doing better? I said, this is all the company pays. He said, that's not true. I said, no, this is my paycheck. This is all the company pays. He said, no, this is all the company pays you. I thought, that's a new way to look at it, right? He said, doesn't the company pay 2345 times this amount to other people? I said, well, yes. He said, then this is not all the company pays. That's all they pay you. And if you qualified, wouldn't your income grow 2345 times? I said, I suppose so. He said, we don't. We don't have to work on the company. We have to work on you. That was the beginning of what he called personal development.

I told him, things cost too much. He said, no, you can't afford them. I thought, well, that's a new concept. I hadn't thought about that. We put some of the valuable things on the high shelf. So you can't get to them until you qualify. If you want the things on the higher shelf, you have to stand on the books you read. Every book you read lets you stand a little higher so you can reach the things on the higher shelf. I learned those concepts. It was incredible. Here was the most important one. Success is something you attract by the person you become. That phrase changed my life. Success is something you attract by the person you become. Success is not something you pursue. It's like chasing a butterfly. You can't quite catch it. Success is something you attract by becoming an attractive person. Those were new concepts to me.

I was just working hard, trying to make a living. Here's what he said to me that changed my life. And I got a chance to teach this in Moscow and across Russia. Three visits, now the fourth. Here's what shaft taught me. Profits are better than wages. Nobody taught me that in high school. Nobody taught me that in my one year of college. Nobody taught me that profits are better than wages. wages make you a living. Profits make you a fortune. How could you work on both a living and a fortune? He said, you could start part time working on your fortune while you're working full time on your living. I thought, wow. Now it's fun to get up in the morning. Not just to get up and go to work to pay the rent, but to get up and go to work to make a fortune. First, to make a living for my family. Second, to make a fortune. And he taught me how to make both a living and a fortune.

Guess what I did? I learned how to make both a living and a fortune. And I found out anybody could do it once they get the information. At age 25, I started receiving this extraordinary information. Here's what he said. Your income is directly related to your philosophy, not to the economy. I thought no one ever told me that. I kept hoping the economy would change. He said, no, your philosophy has to change. I assured him that I had my fingers crossed. He said, that won't help. So I asked, what could I do to change my income and multiply it by two, by three, by five, by ten, and then multiply it by ten again? What could I do? He started giving me the disciplines and the process of learning the skills to change my life. This was an extraordinary man. Those were extraordinary times for me. Life changing in every manner you can imagine, but very simple ABC concepts. Here's what I learned. Not to search for the exotic until you've discovered the basic. Those basic philosophies that he shared with me during that time were life changing.

And he called it personal development. If you change, everything will change for you. You don't have to change what's outside. All you've got to change is what's inside. To have more, you simply have to become more. And then he said, don't wish it was easier. Wish you were better. Don't wish for fewer problems. Wish for more skills. Start working on yourself, making these personal changes. And he said, it'll all change for you. Now. This isn't the only measure I understand. There are many other things to count. But to see if there may be some errors in your judgment and lack of discipline in your life, we might as well start with money, because it's so easy to counterme. So let's just start there and see whether or not maybe we have messed up. Here's how I explain it to kids. We get paid for bringing value to the marketplace.

The key to understanding economics is that we get paid for bringing value to the marketplace. The marketplace is also described as reality. Now, it takes time to bring value to the marketplace, but we don't get paid for time. Its very important for kids as well as adults to understand this. We dont get paid for time mistakenly, some people say, well, im making about $20 an hour. Not true. If that were true, you could just stay home and have them send your money. No, its not true. You dont get paid for the hour. You get paid for the value you put into the time.

So we don't get paid for time. We get paid for value. Now, since that's true, here's one of the key questions of the is it possible to become twice as valuable and make twice as much money in the same time? Is it possible to become three times as valuable as you are now and make three times as much money in the same time? Is that possible? Of course. All you have to do to earn more money in the same time is simply become more valuable. America is unique. It's a ladder to climb. It starts down here at about $4 an hour. There was a big argument last year in Congress about the starting place. Should it be five? Should it be five? Should it be five?

Well, no, it doesn't need to be five. Why not start with four? It's a ladder, right? This is not a bed. This is a ladder. It starts at $4. Now, someone said, well, it should be five. Should it be five? Well, maybe if you're going to stay at the bottom for the rest of your life, it probably should be five. But that's kind of a pitiful way to live. Start and not grow. Start and not change. Start and not become more valuable.

The whole scenario of life is to start, number one. And what? Become more valuable number two. So America has a ladder to climb starting at $4 an hour. The more valuable you become, the higher you move up the ladder. Top income last year, about $52 million. The guy that runs Disney, would a company pay someone 52 million for one year's work? And the answer is, of course. If you help a company make a billion dollars, would they pay you 52 million? The answer is, of course. It's chicken feed. It's not much money. Why that much money? Because he has become so valuable now.

Why would we pay someone only $4 an hour? They're not very valuable to the marketplace. We've got to make that distinction. To the marketplace, you might be a valuable brother, a valuable member of the community, a valuable member of the church, a valuable member in the sight of God, to the human family, of course, those kinds of values. But to the marketplace, which is called what? Reality. Reality is, if you're not very valuable, you don't get much money. Those are the facts. How do you get more money? Simple. Become more valuable. Somebody says, well, I'll go on strike for more. Major problem with that. You can't get rich by demand.

Someone says, I'm waiting for a raise. It's easier to climb than to wait for a raise. Why not just become more valuable rather than wait? That's the key to all good things becoming more valuable. Why would we pay someone $400 an hour, they've become more valuable to the marketplace. See how this works? This is so easy. This is America. This is a ladder. How far is it from four dollars to five dollars? It's not far. If you work for McDonald's, haul out the trash, they'll pay you $5 an hour. If you whistle while you haul out the trash, they'll pay you $5 an hour. You get an extra dollar just for a good attitude. Wear the hat. $5, and then you just keep becoming more valuable. More valuable. More valuable.

Now, let me give you the secret. Shof said, here's the secret, Mister Rohn. Learn to work harder on yourself than you do on your job. Once I got that, it turned my life around. Learn to work harder on yourself than you do on your job. He said. If you work hard on your job, you'll make a living. If you work hard on yourself, you can make a fortune. Economics is the least of the values you can start earning in terms of equity. If you start working harder on yourself than you do on your job.

Work hard on yourself and develop the skills. Work hard on yourself and develop the graces, all the stuff necessary to become more valuable to the marketplace, your whole life can explode into change. Promotions, no problem. Becoming more valuable to the company? No problem. Money, no problem. Economics, no problem. Future, no problem. If you just go to work on the right thing, not get things out there to change. Don't try to change the seed. Don't change the soil. Don't change the sunshine. Don't change the rain. Don't change the mix of seasons. Let the miracle of everything that's available work for you and start working on the inside.

Work on your philosophy. Work on your attitude. Work on your personality. Work on your language. Work on the gift of communication. Work on all of your abilities. If you start making those personal changes, everything will change for you.

The whole drama of life is unique. The Bible is one of the most fascinating books to read because it is so unique in its presentation. One story says God and Satan were chatting away one day. Now, see, I wouldn't have thought that. Isn't that unique? They're chatting away, chatting away and looking down on what's going on on the earth. Now, see, that, that's unique. I thought, how often do they get together and chat and talk about all this stuff? I don't know. But the drama of the story is absolutely fascinating. I mean, it's unique.

On this particular occasion, the story says God got a bragging about one of his favorite people job. He got to saying, job. Job. He's my favorite friend, Job. He's the greatest, he's the richest, he's the most powerful. And I'm taking good care of my friend, Job. He kept saying, job, job. Finally, Satan got it up to here with Job, Job. And he said, yeah, God, job, job, your special friend. You've got this wall built around him. I can't get to him in my normal fashion. And God said, well, he's a special friend of mine, right? We got this thing going, so I'm taking good care of him.

Now this conversation is going on. I find that fascinating. I find it unique. Finally, in the scenario of the story, Satan says to God, I tell you what, God, if you were to take that special wall of protection down from around your special friend, and if you were to let me at him, I promise you, in a short period of time, doing my specialty, he will curse you to your face and then die. God said, you're out of your mind. He would never do that. Not my special friend. Satan said, would you like to wager? Wow, isn't that fascinating? God says, hmm, interesting question. I wonder what job would do now.

See, job doesn't know this is going on. Isn't that fascinating? That's a fascinating story. Finally, according to the scenario of the story, unbelievable. God went for the bet and he had just one requirement. He said just one thing. Satan said, what's that? God said, well, you can't kill him because he's my special friend. Sisi Johnny. Satan said, bah. Okay, okay, I don't need to kill him, but you just take the wall down, let me do my number, and I promise you he will curse you. God said, no way. And Satan said, I will do it. And the bet was on. Isn't that fascinating? That's fascinating.

According to the terms of the wager, God did as he was required by the wager. He took the wall down from around his special friend. When he did, according to the story, Satan did one of his all time famous numbers on the man. First, he took his family. Second, he took his wealth and destroyed him. And blow three, took his health. That's called the triple blow. Your family, your fortune and your health. In one of the last scenes, Job is sitting on the ashes with everything gone, and he is scraping his sores with a rock. His wife comes along and she's observed all of this scenario. She says to job, it looks like your friend has forsaken you. Why don't you just curse him and die?

Satan said to God, here's where it happens. God says he hasn't talked yet. And isn't that fascinating? That's fascinating. While they both watch, wondering the outcome of this wager, Job says, from his ashes, never. I will never curse my friend. God said. I knew it. I knew it. And he picks up the bet, ten to one, or whatever it was. It doesn't say what the wager was. Isn't that fascinating? Now, the rest of the story says God did make it up to his friend job. When you play these kinds of games, you do have to make it up. What shall I do? I know what I'll do. I'll just give Job twice of everything he had before. Wow. And job became, according to history, one of the richest, most powerful men in the known world. But isn't that a fascinating scenario? Don't you find that fascinating?

Inspiration, Philosophy, Motivation, Personal Development, Mindset Shift, Wealth Building, Daily Wisdom