Uncover Your Own "Acres of Diamonds"

And now for another Impact Principle.

Although the speech was delivered over 5000 times from 1900-1925, Russell Conwell’s classic book Acres of Diamonds isn’t just a motivational talk - it’s a wake-up call. A reminder that what you’re looking for might already be within reach.

You don’t want to be like Ali Hafed. Here’s an edited excerpt.

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…Ali Hafed owned a very large farm. It had orchards, grain-fields, and gardens. He had money at interest and was a wealthy and contented man.

…Ali Hafed heard all about diamonds, how much they were worth…and he went to his bed that night a poor man. He had not lost anything. But he was poor because he was discontented. And discontented because he feared he was poor.

An old priest told Ali, “Oh yes, there are plenty of them. All you must do is to go and find them, and then you have them.”

…then Ali wandered across Europe…when his money was all spent and he was in rags, wretchedness, and poverty…he stood on the shore of that bay at Barcelona, in Spain. This poor, afflicted, suffering, dying man could not resist the awful temptation to cast himself into that incoming tide.

…The man who purchased Ali Hafed’s farm one day led his camel into the garden to drink. Ali Hafed’s successor noticed a curious flash of light from the white sands of the stream. He pulled out a black stone…

…The old priest saw the black stone and said, “That is a diamond.” They rushed out into that old garden and stirred up the white sands with their fingers…more beautiful and valuable gems appeared. (They had discovered the diamond-mine of Golconda, the most magnificent diamond-mine in all the history of mankind.)

…Had Ali Hafed remained at home and dug in his own cellar, underneath his wheat fields, or in his garden, instead of suffering wretchedness, starvation, and death by suicide in a strange land, he would have had his own Acres of Diamonds.

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I read this book many years ago. Its truth stuck with me! It is a primary reason I do what I do, and practice alchemy helping people turn lead into gold.

In our blog post of March 8/24, we talked about how “small hinges, swing BIG doors.” Acres of Diamonds reminds us to look for these “small hinges” right where we are.

As a Fractional Chief Revenue Officer, my focus is on finding Acres of Diamonds in sales, marketing, partner channels, and customer service (and fundraising and donor relations).

We "pull back the sheets" and collect and analyze data. We help you gain insights, find quick wins, and uncover high impact opportunities. We 80/20 everything!

If you're a small business owner grinding away or a nonprofit leader working to make a difference in the world, this message is for you.

Let’s dig into seven key insights from the book - and what they mean for your mission, your business objectives, and your everyday personal and family life.

1. See What Others Don’t - The Hidden Treasure in Plain Sight

It’s easy to think the grass is greener elsewhere. A bigger market. A flashier idea. A new shiny object. A wealthier donor base. Surely success is out there, right?

Conwell flips that idea on its head. He challenges us to sharpen our vision, to look again at what we already have.

Maybe that small-town community center you run is sitting on untapped partnerships. Or your modest product line has a niche audience you haven’t noticed yet.

Seeing what others don’t see isn’t about having superpowers. It is about being more present, more curious, and more aware than the average person.

2. Opportunity Under Your Feet - Dig Where You Stand

You might be sitting on your own Acres of Diamonds without knowing it.

Business owners often chase more traffic, more leads, and new markets without fully serving the customers they already have.

Nonprofit leaders often overlook assets in their own backyard. This could be a core group of donors, key Board members, community influencers, or networks of relationships.

Your next big opportunity may not require a major pivot or external funding. You might only need to take deep look into what you already have.

3. Don’t Neglect the Obvious - The Power of the Familiar

Sometimes we get so used to our environment that we don’t recognize the value within.

The clients or donors that are always there when we need them. The offer that produces the highest conversion rate. The product or program with high impact, low effort, and a high ROI.

The routine can be ripe with opportunity. Maybe a tweak to your website exponentially increases traffic and page view times. Maybe creating upsell and cross-sell products or bundling services drives sustainable revenue. Handle obstacles and honor potential right in front of you.

4. Knowledge Is Capital - Learn, Grow, Prosper

Conwell believed in the power of knowledge. The kind you gain from paying attention and the kind you gain from analysis.

For entrepreneurs and nonprofit leaders alike, “sharpen the saw.” (Stephen Covey) Be a lifelong learner. And know your niche, know your numbers, and know your audience.

The more you understand history, the world, and future demand, the more equipped you are able to spot “diamonds.”

5. Wealth as a Responsibility - Serve with What You Have

One of the most powerful ideas in Acres of Diamonds is about wealth, and how you define it and are responsible using it. (for good I hope)

Whether you run a for-profit business or social enterprise, your resources can make a difference, for you and for others. You can employ people needing a second chance, support a local initiative, or reinvest in your community.

Wealth is a mindset. It isn’t just what you have. It is what you do, with what you have.

6. Money with Meaning - Use Wealth for Good

There’s nothing wrong with wanting to increase your topline or add profit (surplus) to your bottom-line. But the real question is: What is your WHY?

When revenue and profit are tied to purpose, they carry more weight. Your customers feel it. Your donors experience it. Your team lives it. Whether you are creating jobs, feeding families, or fighting for justice, you are delivering impact.

Use your resources with integrity, and you multiply your impact.

7. Turn Lead into Gold - Transform Struggles into Success

The real world is real! Overwhelming, confusing, complex, changing, and moving fast. Sales are down. Donors are leaving. You can’t sleep.

In every obstacle, there is opportunity! They present moments for alchemy, creativity, and innovation. Conwell believed that with the right mindset, even the biggest mess you find yourself in can become a transformational breakthrough.

Lean into the hard stuff. Lead becomes gold through perspective (80/20), persistence, and pressure.

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You don’t need to look for your Acres of Diamonds in some other town or city. Instead, look within and be present right where you are. You are standing on potential. With vision, wisdom, and heart, you’ll uncover more than you ever imagined.

If you’d like help to find your own Acres of Diamonds, click here.