Bootstrapping

saving moneyWorking Like You’re Poor

Bootstrapping or working like your poor is a very good way to become a better business owner.  The biggest mistake that I made is that I didn’t do that.  Once I found a good investment and was making money I went out and made another investment.  After that next investment I repeated the process.  I basically tried to buy my way to success instead of working my prospecting system and understanding that I needed to grind my way to success.  I’ve learned a lot from those experiences.  However, at the same time I’ve incurred a ton of debt.

The biggest problem with not having a good bootstrapping mentality is that you’re often a victim of shiny shit syndrome.  That’s exactly where I went.  I would pay 10s of 1000s of dollars on all different courses to be better at this or be better at that.  Self-improvement is a great thing, but doing well my first few years I should have had some money saved up to acquire an asset.  Instead we needed to grow our home and I acquired another liability.

The last thing I talked about was knowing yourself.  This goes hand in hand with that.  Know that you like to spend money.  It’s a consumerism tendency.  We’ll get to that when we talk about the virtual realities in later blog posts.  What you want to remember now is that… you’ve been wired to spend money.  Save it, invest it and let it grow.

Awareness

Knowing Yourself

Knowing exactly who you are right now and how you think is of utmost importance.  It’s amazing how in-cognizant people are about themselves and their surroundings.  Being able to understand who you are and why you make the decisions you make is very pivotal in growing professionally.

To this day it still amazes me how little people know about themselves. In the video below, Gary Vaynerchuk talks about Self-Awareness and how powerful it is.

Amazing video.  He has so much mojo when he speaks.  You can tell exactly what he’s saying is right on the money.  I love listening to him speak.

My biggest mistake is that I was very unaware of how to get myself out of the “funk”.  I would just let it take over me.  I would get lazy and unmotivated.  I’d find myself just watching TV or playing video games.  Sometimes I’d just waste hours on end playing with my phone watching non-sense videos on Facebook.

I had tried everything so I thought.  The problem was that I tried everything once.  I didn’t establish a repeatable process for preventing those instances of low motivation.  Once I did, it was amazing what I could accomplish in a single day.