Are you the type of business owner that gets stressed out at the amount of money going out?
It's easy to get worried about advertising costs, payroll, taxes due, paying for what seems like millions in supplies...
Do you focus on how much that marketing campaign just cost you? Or are you looking forward to how much revenue that marketing is going to bring into your company...
I know so many business owners that act like they're in some sort of trap! They own this business that takes 60-80 hours of their life each week, they're always uptight about having to spend more money, how the cost of everything is going up, no time with the family, whining about employees, distributors, suppliers...
Time to change your perspective, I tell them.
How about looking at the infinite possibilities in front of you? How about focusing on the fact you you've created and built up your very own money-machine. ...BE EXCITED! Stop looking at the cash going out, and start focusing on getting more cash IN. I bet that more often than not, business owners spend more time and energy thinking about outgoing dollars, than incoming dollars. And that is exactly why 95% of independent Canadian businesses end up broke within the first 5 years.
You see; way too many of us are still trading our time for dollars. Even the self-employed, being tied to their work, unable to let it go for a day, weekend, week...
When you focus on creating cash-flow - cash-creating assets, you'll find that all-of-a-sudden...YOU'RE FREE! You are no longer in your business' noose. Instead of owning you, it's become an asset to you. No longer a liability. Make no mistake; businesses can be a liability. Any month that you spend more than it brings in - it's a liability, and you may as well close up and go home.
So tomorrow when you go to your job/business/whatever; focus on the work that makes the cash flow in. Don't focus on the things that make the cash flow out.
Without sounding too cliche; 'work smarter, not harder'. Use leverage, use tools, use people. Do whatever it takes to turn your business into a true money machine. Something that generates cash-flow with or WITHOUT your presence.
-B
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