Here’s a quick little story showing you why “normies” (people who aren’t active investors, entrepreneurs, INTRapreneurs, independency-driven, nonconformists, etc)… have it all wrong with money.
While sitting outside around a bonfire with neighbors we got talking about expensive cars.
I’m no car guy nor pretend to be nor want to be…
But I mentioned a friend who is.
Who drives around $200k+ cars.
And he ain’t broke and can probably afford a few of them.
“What does he do?”
Asked one of the neighbors.
He’s a real estate investor and owns three other businesses as well.
The neighbors’ response?
“Is he born with money???”
That’s^ a typical (false) money-belief of “normies”.
In fact, when Trump’s success is thrown into the conversation most resort to saying:
“Well, he was given $1 million when he was young!!!”.
This is one of the biggest obstacles (money beliefs) for early entrepreneurs and investors.
That you need money.
Money does help… but not knowing what to do with it can mean it’s thrown in the trash as fast as a dirty diaper.
I know from experience.
Having close to 6 figures to “play with” when starting on my very first entrepreneurial venture: wholesaling.
Not saying it all went away (I bought and sold mobile homes with a portion of it).. But A LOT of that “hard cash”… well… I’m not too sure where it went; a little direct mail here, some tools here and there, marketing, etc.
Not saying this to scare new investors.
But to squash the idea, money helps launch a successful business.
(just look at VC-funded businesses… How many turn a profit? Very little)
Focus, discipline, and resourcefulness (and a little splash of luck sometimes) is the recipe.
-Paul do Campo
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P.P.S. Understand that I don’t mean anything derogatory about the word “normies”. But mainly, it’s hard to have a conversation about anything business, investing, and money-related with anyone who’s NOT any of the listed categories above.