Loser's Debt: If you are starting don't do this

[RogueInnovation]

"If you show me how to make a million dollars, or if I make a million dollars this is what I will do"

Dreamers dream, and as a result they do not understand the consequences of their promises.
The reason you do not say what you will do with a million dollars when you begin is because it is like acrewing a million dollars in DEBT.
- I will buy my parents a house
- I will give it away
- I will put it into an account and live off the interest

You would not get a million dollars debt from a bank, throw it at your parents new house, and then work 9-5 for life to pay it off, because that is not altruism, its vanity, its dreaming, and it is pointless.

Do not aim to spend money on anything EXCEPT solid business fundamentals.
I am saying this for the guys that are lurking and are just NOT clear on what they want to do, or are not clear on how to handle cash.

The first rule is NEVER create deficits. Never by promising, never by making commitments to purchase.
Instead, spend only on what makes money, get to a position of strength, and at that time, offer people some of your TIME to help work on and solve problems.

In short, if you are creating DRAMA for your inner monologue, you are just creating burdens, in order to justify change. In the real world, this drama gets you into DEBT.
Promises of this nature are not altruism, but its very antithesis, a mentality that expects payoff by "willpower" and ego alone.

Further:
Why do we make these commitments? Aside from the insecure feelings and wanting to succeed?

It is because you believe "you can do it", and that you will endure. And this is a VERY good trait, when it is also BUSY failing a thousand ways, so it can find one way that reveals a SLIGHT return.
Slight returns become investment opportunities, IF we learn how to leverage them (CENTS is a good model for this), but larger opportunities and companies are created by optimising those small advantages time after time after time. Eventually you will start making some leaps, eventually you will run, and eventually things will become clearer.

Do endure, but do not create deficits to endure through. Digging holes, and sabotaging progress, is not what you do if you do not know how to succeed yet.
To succeed, AIM to be more OBSERVANT to details that matter and do not get lost in the free for all that is "who deserves it more".
If you intend to endure the journey, STICK to that promise, roll up your sleeves, and get to the task everyday, you have a chance to build something that will work.

You will probably succeed, so long as your ego doesn't get its fill before you do.
Let your ego starve, so you don't have to.

 

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