A Lesson In Money Management

Ezine » Gambling » A Lesson In Money Management
Author: John Colanzi

It disturbs me when I read about marketers who've lost a
ton of money promoting their ventures.

I've seen messages by marketers who've spent as much as
$9,000 without making a cent. What's even more disturbing
is the fact that many of them have spent that money and
haven't learned a thing.

They've not only spent all their savings, they think the
problem will be solved by spending more money. They're
chasing their losses.

They aren't building a business, they are gambling. The
more they lose, the more they spend.

There's only one question to ask yourself before parting
with your hard earned money.

"Will spending this money make me more money?"

I learned that lesson in the brick and mortar world real
fast. I had just hocked my soul to buy a small business.

Before I even made a profit, I asked a friend about
knocking down a wall.

I still remember our conversation.

"Paul I'm thinking about knocking down that wall."

Paul looked at me and said, "John do you really think it
will make you more money?"

That answer was a wake up call. My decision was based more
on ego, than it was on sound money management.

I'm still thankful I never tore down that wall.

Every dollar you spend, must bring back more than a dollar
in profits.

If you break even, you've lost money. You have a hole in
the bottom of your bucket.

You must save money in your personal life and in your
business venture as well.

The next time you're ready to spend money on a product or
service, ask yourself; "Will this make me more money?"

If the answer isn't a resounding yes, put your credit card
away. Make decisions based on profits, not ego.

About the Author

John publishes the "Street Smart Marketing"
newsletter. To subscribe
mailto:[email protected]
Download your free copy of Secrets of Success.

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