Making Money with Friends Fri, Oct 09, 2015
I love money. Does that sound bad? Everyone needs it, everyone wants it. But talking about making money is often considered to be somehow "dirty" or greedy. So, in the vein of self-improvement, I'll be sharing the various little snippets I come across regarding how to make and handle money in a healthy, sustainable way. We already do a lot of these things as a company; the trick, then, will be to scale down the strategies to a personal level.
The first lesson I have is: Part of everything you earn is yours to keep. What does that mean? Isn't everything you earn yours to keep? Well, yes and no. Don't you need to pay for food, and clothing, and shelter? Isn't part of your paycheck already gone on its way to your necessities? However, you should always keep a fraction to "pay yourself." Think of this differently than just "saving;" think of it as building your fortune. I never used to segment my money, so I would consider all that I had to be fair game for spending. Thus, my savings never grew. As a broader example, around 17% of NFL players report bankruptcy within a decade after retirement. How is that possible when they make so much money during their careers? Because they act as though all of their money is meant to be spent, even when they no longer have an income. Treat your money "tree" with respect. Water it regularly, and don't pull it up by its roots. Let it grow slowly but surely, guarding against the uncertainties of the future.
SlideBelts has seen a steady increase in sales and success over the last few years. So, what do we do with all this new money rolling in? The shortsighted leader would take it as an excuse to bump up his own pay, or perhaps to expand recklessly. Instead, we've carefully reinvested profits back into our core infrastructure and our people. Our tree is growing, and its roots go deeper.