I bet this title made you think WTF??
Let me explain…
When starting a business or even maintaining a current business it is important to forget about making money. What I mean by this is simple. Ideas and businesses built on making profits are not as successful as ones built on passion and drive to do something positive. Business built on making money have faults and cracks. When money is on the mind of a business especially in early development it shows. If Betty Sue started her cupcake shop just to make the largest profits possible, don’t you think she would be slacking on a few key features which will make her successful? Really good cupcakes? Happy customers?
If you are developing a business and are focused too much on financial projections, profit margins and bottom line profits. First of all I want to say, as a start up, you should not even think about that. Financial projections is guessing and guessing is a waste of time. We can talk more about that later.
Just start your business or idea and do it with what you have. Be passionate about it and do it well and money will follow.
Some of you are probably thinking a multiple of arguments or questions right now. How do I get financing to start a restaurant or build my spaceship without putting together numbers for investors or banks? BAD IDEA! Scale down your idea to do what you want on your terms or assemble a team to achieve your goal. If you can’t do it with what you have, adjust the idea. For a restaurant, if you want to make the best burgers in town. Start off selling burgers during lunch time in a popular area from a street car. If they are good and do it well, you’ll make enough to grow, promise! If you want to build a spaceship, read my post about no one needs an idea guy and get a skill and a team to build it.
How do I pay myself if I don’t concentrate on making money? If you truly are passionate about something do it on your off time. Are you passionate about tv? I bet you do a lot of that! Build your life around being able to do this and then slowly you will be able to focus on it full time.
Even Lil Wayne after he talks about making money and money is everything.. blah blah. That guy has more passion and dedication to be the best at what he does then anyone. He lives and breaths his passion. So obviously, after years of dedication and practice money will come.
There is no such thing as a guide to making money! Do not let money deter you from developing your ideas. If your idea is too large at first and can’t be achieved by you and your team. Scale it down. Make it work with what you have and focus on what’s important. It will evolve and grow into something amazing.
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