Financial Regrets in Business
I was listening to the radio some time back. The person telling the story did a lot of mission work in third world countries. He told the story of giving these kids a marshmallow and telling them to just hold onto to it and not eat it!
The number of children that did not eat their marshmallow was so small. Some of the children just took a taste while some ate the entire marshmallow right away without hesitation. He told the story of one little girl that ate out the middle to make it look like her marshmallow was still whole.
What does eating marshmallows have to do with Financial Regrets in Business????
FINANCIAL REGRETS IN BUSINESS
One of the greatest abilities in business is the ability to weather the storms. The reference I am alluding to is the financial storms. Let’s assume your business is this Giant Marshmallow. You hand your business to your employees and tell them to take care of your business while you are away. As soon as you leave, they start to eat your business. When you return, some of your employees have eaten all they were entrusted with. Others ate out the core of their responsibilities. But, a handful of your employees maintained their responsibilities.
Your business is not this Giant Marshmallow. You also do not have employees as you are engaged with an online business working in the World of E-commerce. Now, you are the one responsible for your business so, are you eating your marshmallow?
One of the biggest financial regrets in business that I have experienced was eating the seeds of my business. Have you heard that before? Probably not in these terms but I’m sure you have heard another version of this.
In the words of Robert Kiyosaki: “PAY YOURSELF FIRST!”
He realized this as he was rebuilding and paying off a huge debt that his business partners left him with “when they ate the seed money of their business!” (I could spend some time on this but you can pick up one or more of Robert Kiyosaki’s books.)
My biggest financial regrets in business is eating the seed and not paying myself first. When everything goes back into your business (including the seeds for future crops), you are doing no more than gambling against the big houses in Vegas. The odds are stacked against you!
Now, we all have a chance to correct our past mistakes. We are entering a new venture with Compumatrix. With this new venture, I will pay myself 10% and 25% will be used to purchase more “SEEDS” for future crops.