Working 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.