Making Money Takes Practice
photo credit: midiman
Making money takes practice, just like playing the piano takes practice. No one expects anyone to be any good at the piano unless they’ve put in lots practice. Same with making money. The more you practice the better you get. Eventually making money is as easy for you as piano is for someone who’s been playing for 10 years.This is one of the reasons I encourage entrepreneurs to bootstrap instead of taking outside money. On day one, a bootstrapped company sets out to make money. They have no choice, really. On day one a funded company sets out to spend money. They hire, they buy, they invest, they spend. Making money isn’t important yet. They practice spending, not making.
DefunktOne on November 3rd, 2009 4:28 pm
Well said. I was explaining this concept to someone who wanted to borrow money for a start-up just the other day. You should bootstrap it until bootstrapping is holding your company back from growing.
Until then, don’t waste your time or money chasing that dolla’
Ed Martin on November 4th, 2009 1:13 am
I think it bootstrapping or not does depend on the business, but you are sure right about practing making money. Gotta build up that money making muscle menory.
RedHotFranchises on November 6th, 2009 2:40 am
There are two ways to make money, either by brains or brawns.
neither way, It doesn’t necessarily take too much practice unless you’re working by brawns, With the digital age today, you can simply make money from your own Intellectual Property, all it takes is one great idea to achieve the Holy Grail.
Scalability is the key to success.
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