All About That Money
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All About That Money
It’z All About That Money”, is a title of a song by the rapper Daz Dillinger. And if the truth be told, in the business world, it really is all about that money.
Let’s suppose that you’re at work one day and you are really pissed off at your boss. You’re thinking about that wonderful day when you can tell him or her where to go and walk out the door. You are considering becoming an entrepreneur.
If you took some community college courses in entrepreneurship, they would tell you that you need a business plan, funding sources, a management team and a good idea. All of that might be true, but there is much more to the story. What really matters is it what does it take to succeed on a daily basis? Over the years as a New Jersey business broker and C.P.A., Brad Palmer has found that most successful entrepreneurs have certain personal attributes that have strongly contributed to their success. If you are a Pollyanna, or a person who views the world through rose colored glasses, you might not like what he says, but here goes anyway. Here are Brad’s observations.
First, money should be the most important thing in the world to you. For most people, money is not the most important thing in the world except to the extent that they need it to buy food, clothing, shelter and other material items. There are people, however, for whom money is the most important thing, and if you are not one of them, you are going to be at a disadvantage from the beginning. Brad has also observed that most successful entrepreneurs were money focused at a very early age, in many cases while they were in their early to mid teens. MONEY MUST BE VERY IMPORTANT TO YOU.
Second, as a corollary to money being the most important thing, you should be willing to do anything legal to obtain money. There are people in the world who will marry someone for money, stay married to someone for money, live someplace that they hate for money, and engage in an occupation or business that they hate for financial advantage. Successful entrepreneurs tend to have this attribute. They will put up with almost anything in order to achieve their financial goals. YOU MUST BE WILLING TO DO ALMOST ANYTHING TO OBTAIN MONEY.
Third, most successful New Jersey entrepreneurs that Brad has met have what might best be termed situational ethics. While they might not be criminals, ethical concerns are not the first thought in their heads upon arising in the morning or the last thing they think about upon going to bed at night. For those of you old enough to recall the adage from the 1960’s, “if it feels good, do it”. The idea here is that if it’s legal to do it, then do it. Stiffing people in bankruptcy, firing people because it’s profitable, shading the truth in advertising is all fine if its legal. MOST SUCCESSFUL ENTREPRENEURS HAVE SITUATIONAL ETHICS.
Last, when it comes to relationships with people, it helps to have a chameleon personality. What Brad means by this is that you have the ability to make most people think that you like them and respect them, even if you can’t stand them or really have a low opinion of them. This is especially important if the people in question are in a position to do something for you of a financial nature such as investors and customers who control the money that you need. You need the ability to compartmentalize or to separate your personal feelings about people from what you need to do to get them to do what you want them to do. MOST SUCCESSFUL ENTREPRENEURS HAVE THE ABILITY TO WIN PEOPLE OVER DESPITE THEIR PERSONAL FEELINGS ABOUT THEM.
So go take your community college course, write your business plan, and play with your Excel spreadsheets. Read books on entrepreneurship and develop various strategies. But remember, when the day is done, “It’z All About That Money”.
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