Turning on the Cash Faucet

March 22, 2010 at 6:55 pm Leave a comment

In our pixelated workshop we learned that money is a representation of value.  Money, in and of itself, does not give you anything.  You can trade it for things you want.

Getting more money is only one way of getting things.  Other ways are:

  • Not needing them
  • Trading
  • Making or doing it yourself

Not Needing Things

empty room

photo by Nanaow2006

The easiest way to have more value in your life is to not need so much.  That starts with shoes and clothes and other stuff. Within living memory, most people had 2 outfits and one pair of shoes.  Houses were not filled with stuff.

The bleeding edge of technology not only means paying to buy the latest, it means paying to discard (or store until we finally throw it out) the not-so-old-and-still-functional.  All these gadgets don’t really help our productivity or our enjoyment.

Now it seems we need more things even though we can still only wear one pair of shoes at a time and we use less than half of the functionality of our tech toys.  Stuff takes up room in our spaces and in our brains and then we have to clean them, worry about them and insure them.  The ultimate insult is to pay to store them.

I’m not a Luddite; I use all 4 of my computers and my cell phone.  But I don’t need always-on internet.  If I’m in a strange city and want to know the best place to get a coffee, I don’t need to call up 4 Square, I ask the guy standing next to me clutching a cup, beaming a satisfied smile.

Spend money on technology that adds to your life.

Trading

Swapping services is a great way to get the things you want/need.  Just make sure to swap invoices and account for the sales tax properly.  It’s a way to get access to a service you wouldn’t otherwise be able to afford.  It’s a way that people can work together by using their strengths to help each other.

I enjoy doing bookkeeping; that’s why I started my business.  It makes sense for me to swap off time with a graphic designer.  We’re both doing what we love; we’re good and fast at it.  We’re both getting professional results.

Making or Doing it Yourself

There are times to get a professional and there are times when what you can do is good enough.

In our household, food is important.  We like to eat well.  Fortunately; Don and I both like to cook.  A Sunday spent making soup, a roast, baking bread and cookies is a day well spent.  We enjoy it and have put in the 10,000 hours to become good at it.

That means we can spend our money on other things or not spend our money.

In business, there are times when doing it yourself does make sense.  I don’t need to hire a cleaner if my kids and I can come in here and vacuum on the weekends.  We get time together, they see my business and they get to contribute to the business side of our family.

Water Jug

photo by Malcolm Teddinick

We don’t need a water cooler service when a jug filled at home works just as well.

I want to tread lightly here because I’m a strong advocate of the “you can’t shrink your way to greatness” school of thought.  I’m just saying to think about how you are spending your money in your business.  Think of your expenses as investments in your business.  If they further your aims, go for it; if not, don’t.

Money is only one way to achieve your business goals.

Advertisements

Entry filed under: 1. Know Where You Are Going, 3. Do It. Tags: , , .

Aside – Books and the way they colour your day Get it out the Door

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


The Three Success Factors

I have worked closely with 100’s of business owners and I have seen too many struggle. I have seen what works and what doesn't.

It takes 3 things to succeed:
1. Hard work - and I know you do that already.
2. Knowledge - domain knowledge: you've got that and continue to learn; and business knowledge: this is where everyone focuses and it's easy to find
3. Mindset - This is the killer app. This is what makes or breaks small business owners.

We work on Mindset here at the Business Owners Success Club: how you think about yourself and your business.

When you focus on a business that gives you what you need to live a Good Life and gives others what they need to solve a problem, everything else falls into place and you have a successful business.

Using that as a framework we work on one aspect of business every month. February is "Your Place in Your Community" month.

In March we will open the doors to our online community. Stay Tuned.

Sign up here to play along.

Categories

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Here’s the short and sweet version

Here’s what others liked


%d bloggers like this: