This is a post to inform everyone of my biggest business mistake, so far.. I have been doing numerous ventures online since before I was a teen and have always enjoyed it. As far back as I can remember while making money online I have made the same mistake. Can anyone guess?
NOT SPENDING MY MONEY CORRECTLY
no! No! NO! it isn’t because I go out and waste it like many of the people I know, or because I bought a new mercedes, and I actually am very wise with my finances and do save a great portion of them.
The problem is that saving them in the bank or spending them on things I don’t need is entirely wrong! When I made my first $100 online instead of saving it or going out to eat, what should I have done? Spent every penny of it back into my business to help it grow. This is the smart way to invest in yourself and one mistake that hits me hard when I think about it.
So, lets say you are making just 2k a month from your websites and your only 13 years old. You still do not need to put 2k in the bank or spend it on a ps3, instead save a little bit buy the things you need and that are important and put the rest directly back into your business and you will see that 2k a month grow to 5k in no time flat unlike the others who stay happy and save the 2k every month and will continue to make 2k dollars! I hope this can help someone.
-Justin Chelf
September 4th, 2008 at 9:41 am
Good quick post there Justin. Its so true too. Also, that’s a hot Benzo you’re sportin, and I felt compelled to click on some of the Adsense ads just because you may need some help paying for the insurance and/or gas to keep that sucker going! Kudos to see you doing much better these days in terms of success, you really deserve it!
September 4th, 2008 at 9:55 am
Justin. That is the exact reason why most people end up with nothing. If you SAVE your money, in the end you will make more. I had the same problem with spending and then waiting for the next wire. I just bought this new house with my earnings and hell.. I could put 10k a month into the mortgage OR I could invest the money and use the interest I make to pay it off. You know i still need to party like a Rock Star, but there are cheap ways of living, having fun and SAVING!