Just read this very insightful quote by Oliver Emberton, Founder of Silktide - Most people spend their money to get the most utility - fun, food, whatever. Entrepreneurs spend their money to make the most money.
This picture is worth a million words. As a consumer we spend money on things for personal gratification - things that give us pleasure, satisfaction, meeting a need, motivation, enlightenment, satiate our ego or whatever else that makes us feel better. They do not help us make more money unless the money is spent on buying an asset of value. An an entrepreneur one needs to spend money on creating assets that will help create more money. This goes back to an earlier post that I wrote on Building your brands and assets. It is these brands and assets that you can monetize and generate more money.
As an entrepreneur it is very important to think this way. Its important to take stock of the assets you have and evaluate if these assets are being monetized properly and at the same time figure out what new assets can be created that can be monetized even more.
Post a Comment