Follow the Cash

Discussion in 'General Advice' started by macbuy, Feb 25, 2008.

  1. macbuy

    macbuy New Member

    No, I'm serious...apparently it IS that easy! I got this video through my advanced 1-800 / voicemail provider's monthly newsletter:

    http://gotvmail.com/newsletter/02-2008/entrepreneur-video.html

    Worth discussing. I understand the basic point, but doesn't it cost money to make money, too? Most startups don't make a profit their first year out of the gate, but start to do well gradually (that's how it was for me, anyhow). You're of course supposed to be concerned primarily with MAKING and not spending money, but it seems easier said than done to me.
     
  2. aplina

    aplina New Member

    sorry cannot watch you video , hate virus. what is it about?
     
  3. pcwork

    pcwork New Member

    Most programs that are too good to be true are usually scams
     
  4. macbuy

    macbuy New Member

    It's not a "program," the video is just describing one of the many routes to business success -- in this case, a practice entitled "following the cash". I was just considering that this is often easier said than done, since businesses take money to operate, and many small ones don't even make a profit the first two or so years out of the gate.
     
  5. dmitch31

    dmitch31 New Member

    I understand what the guy is trying to say. To apply it to our own situations as people trying to work at home we would need to use some smaller scale examples. For example... people start a business and they get caught up spending more time and money setting up the office, painting the office, choosing decorations for the office, buying a fax machine and other office equipment, etc. All the while, they're not engaging in the activities that they need to do to make money.

    Here's a real work example. My nephew was telling me that he needed to buy a new video camera for his multimedia company. The truth is, however, that his multimedia company is not making enough money yet to afford a new video camera and he really needs to just make do with the camera that he has now (which is perfectly adequate). Part of his problem is that he just wants to buy a new camera for the fun of it. I steered him straight, but what he and others like him would do would be to go ahead and buy a new camera because they "need it for the business". And right when they 'buy the camera' they immediately go into the red.

    I think the whole point of that video could be simplified a great deal by saying - spend your time on the activities that actually make you money instead of spending time on activities that you "think" you need to do to "run a business".

    Make sense?
     

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