When starting any enterprise or business, whether it is full-time or part-time, we all know the value of having plenty of capital money. But I bet we know or at least have heard of people who started with no capital and went on to make fortunes. How, you may ask yourself.

I believe there are actually some things that are more valuable than capital that can lead to your entrepreneurial success. Let me give you the list.

1. Time

Time is more valuable capital than money—time set aside not to be wasted, not to be given away. Set time aside to be invested in an enterprise that brings value to the marketplace with the hope of making a profit. Now you have capital time.

How valuable is time? Time properly invested is worth a fortune. Time wasted can bring devastation. Time invested can perform miracles, so always invest your time.

2. Desperation

I have a friend, Lydia, whose first major investment in her new enterprise was desperation. She said, “My kids are hungry, I gotta make this work. If this doesn’t work, what will I do?”

She invested $1 in her enterprise selling a product she believed in. The $1 was to buy a few fliers so she could make a sale at retail, collect the money and then buy the product wholesale to deliver back to the customer.

My friend and mentor Bill Bailey went to Chicago as a teenager after he got out of high school. The first job he got was as a night janitor. Someone said, “Bill, why would you settle for night janitor?” He said, “Malnutrition.”

You work at whatever you can possibly get when you get hungry. You go to work somewhere—night janitor, it doesn’t matter where it is. Today, Bill is rich and powerful and is a recipient of the Horatio Alger Association of Distinguished Americans award. But his first job was night janitor.

Desperation can be a powerful incentive. It’s when you say “I must.”

3. Determination

Determination says “I will.” First Lydia said, “I must find a customer.” Desperation. Second, she said, “I will find someone before this first day is over.” Sure enough, she found someone. She said, “If it works once, it will work again.”

But then the next person said, “No.” Now what must you invest? That’s next…

4. Courage

Courage is more valuable capital than money. If you’ve only got $1 and a lot of courage, I’m telling you, you’ve got a good future ahead of you. Humans can do the most incredible things no matter what happens. Haven’t we heard the stories? We hear them in the news all the time. You can’t sell humans short. Have courage in spite of the circumstances, not because of.

Once Lydia had made three or four sales and gotten going, here’s what took over…

5. Ambition

“Wow! If I can sell three, I can sell thirty-three. If I can sell thirty-three, I can sell 103.” At this point, Lydia was dazzled by her own unlimited dreams of the future and driven by a strong desire to achieve them.

6. Faith

Lydia believed she had a good product. She believed she was with a good company. And she then started to believe in herself. Lydia, single mother, two kids, no job. “My gosh, I’m going to pull it off!” Her self-esteem started to soar.

These are investments that are unmatched. Money can’t touch this kind of investment. What if you had a million dollars and no faith? You wouldn’t be rich, in fact, you’d be poor.

Now here is the next one, the reason why Lydia is a millionaire today.

7. Ingenuity

This is the time to put your brains to work. Probably up to this point, you’ve put about 10 percent of your brainpower to work. What if you employed the other 90 percent? You have no idea what can happen. Humans can come up with the most intriguing things to do.

What’s ingenuity worth? A fortune. It is more valuable than money. All you need is $1 and plenty of ingenuity. Figure out a way to make it work, and make it work again.

8. Heart and Soul

There’s no substitute for heart and soul—certainly not money. Money can’t buy heart and soul. Heart and soul is more valuable than a million dollars. With a million dollars but no heart and soul, you have no life. You are ineffective.

Heart and soul is the unseen magic that moves people. It moves them to buy, to make decisions, to act and to respond.

9. Personality

Everyone’s got personality. Spruce up and sharpen up your own personality. Get it developed to where it is effective every day, to where it’s effective no matter who you talk to—whether a child or a businessperson, whether a rich person or a poor person. A unique personality is at home anywhere.

My mentor Bill Bailey taught me, “You’ve got to learn to be just as comfortable, Mr. Rohn, whether it is in a little shack in Kentucky having a beer and watching the fights with Winfred, my old friend, or in a Georgian mansion in Washington, D.C. as the senator’s guest.”

Move with ease, whether it is with the rich or with the poor, because it makes no difference to you who is rich or who is poor. Take your chance to have a unique relationship with whomever. Adopt the kind of personality that’s comfortable and doesn’t get bent out of shape.

Lastly, let’s not forget charisma and sophistication. Blend charisma with a touch of humility. This entire list is more valuable than money. With one dollar and the list I just gave you, the world is yours. It belongs to you, whatever piece of it you desire or whatever development you wish for your life. I’ve given you the secret. Capital. The kind of capital that is more valuable than money and that can secure your future and fortune. Remember that you lack not the resources.

JIM ROHN is a world-renowned business philosopher
and author of
The Five Major Pieces to the Life Puzzle,
The Treasury of Quotes, Leading an Inspired Life,
The Seasons of Life and Twelve Pillars.