The Law of Exchange is seen in nature, life, and business. Learn how it works so you and your company will advance. #000094
Law of Exchange
By Gary Shotton
Hello my name is Gary Shotton and today we’re going to talk about the “Law of Exchange”. You know, there are certain key lessons that could make the hierarchy of importance. And, make what I would call the top of the list on the keys to wealth. You know, if you are going to open up a door you might have one paddle lock on it and then somebody that wasn’t quite secure might have another padlock and if you weren’t real secure you might have as many as seven eight ten padlocks on a door. If you were wanting to git through that door then you’d have to pull out those seven keys and you have to unlock each one of those seven blocks in order to be able to enter through into the new other side of the door opening. Well, you’re on this side of the door and the other side is well and i would say that there’s certain keys but you’ve got to put into place turn make work for yourself in order to get into that wealth.
Category and we’re not talking about riches that’s not the same money and riches are a sub component of a bigger thing that we call well your health your relationships with your family your relationships around your attitude in life I mean there’s things that are way beyond just riches that I consider the important things to well now what do I mean by law of exchange well if you believe it all in creation which I do we were created in a way that we have exchanges of things I bring in oxygen for my body to breathe and work and I give out carbon dioxide I’m exchanging oxygen for carbon dioxide the plants do the opposite they exchanged carbon dioxide and put that oxygen that’s an exchange there’s something done that transforms something into a medium that benefits the other person so when you’re working on a job.
I have the opinion that your law of exchange your primary tool of exchange is your time you put in 40 hours or 50 hours and you received a paycheck at the end of the week you put in another 40 or 50 hours you exchange your time for that money you stop working that day guess what they start stop giving you a paycheck so you have this law of exchange working on all the time in your life in a more broad sense you know if somebody was lonely I would say start giving out a compliment and be open and an end and friendly you would have friends in exchange for that so there’s all kinds of things that tie into this law of exchange and one of that comes important to you as a as a business owner is the ability for you to be fair the ability to make an exchange that was fair just I would just ask just a few minutes ago about a property a piece of land that was a cost where I have my building and is that land worth
In this case a certain dollar figure certain amount of money and I said you need to calculate the square footage in our case divide that into the price that they’re asking and use those numbers to come out to so many units of money per square foot now that person is going to exchange money for that piece of the land I I have workers here and so what we’re fair what’s fair well you shop around and you find what other lands of similar value there some are going to have stronger points and some have lesser strength I to them to arrive at a price but you’re going to have to come with the understanding that you have a fair exchange of that money you’re going to have to become skilled in knowing how to exchange money not how to change American dollars into Mexican pesos but how to be fair in the way you spend your money the wet what you get in return for your money and any time that gets out of balance any time that that gets lopsided.
Anytime anybody gets greedy it gets too much over a period of time that relationships going to fall down now you may be surprised here for the last four years we have not been increasing our price to our customers for any reason at all aww if there’s a mistake or they change the design then we get a reported but our customers are expecting us to actually lower our price in one particular customer they’re very open about it they expect what’s called a cost management partnership where we’re expected to bring to them each month a certain dollar amount of suggestion savings in the parts that we’re going to give to them so in this exchange process I’m exchanging my information my ability to make the car cheaper but not making it more and so you’re going to have to be able to negotiate be able to determine what’s fair in each one of these cases.
You’re going to have to be able to use the law of exchange in hiring people you’re tiling people come on board with you that are giving up a portion of their life is what you’re paying them a fair wage including all the benefits all that all the things that go with it is that fair in exchange for them working for you 20 years 30 years they’re going to have to decide but I think I have a responsibility also this law of exchange is paramount for you to understand that you’re always going to be dealing with the law of exchange it’s impossible every time you breathe in carbon carving oxygen and give out carbon dioxide you’re a part of the law of exchange every time you buy or sell a product you’re part of a law of exchange we’ve used dollars or pesos or whatever currency you or further working in as the exchange medium but eventually is it a fair exchange.
I hope this helps i hope that you work on this my assignment would be to just think it through them i got a fair exchange here am I being too greedy on something have I got too good of a deal it’s too good of a deal right now it’s probably not going to last very long I work on the premise that we have many parts that we fill we want to make a fair margin of profit on every single part now some we do better and some we do not so good but it’s a similar margin of profit on everything we make and now we’re in business for a long term our customers know that we’ve had customers now for 30 years another customer for 30 years and another customer for 20 years and that has made up ninety percent of our business for many a big part of my years of ownership here so we’re committed to be fair in the exchange what we send to them they get a fair return for what they paid us hope this helps thank you for being a part of this please share this with others thank you.
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