I have a lot of people come to me because they want to start a business, claiming that it’s not about the money. However, I’m here to tell you that money is a necessary part of the conversation. While it can’t be the only conversation, understanding ways to make money for yourself and your business is important. Additionally, being creative with your resources is key to advancing as an entrepreneur and solving people’s problems. I explain more below.
Ways to Make Money from Money
If you stop and think about it, most people lean toward money as being VERY important, even though they may try to convince themselves that it’s not everything. After all, even when trying to convince themselves of money’s insignificance, many can’t help but focus on getting it.
In turn, people’s perceptions, thoughts, habits, and actions reflect that. Their path then becomes too much about looking for money. Suddenly, looking for money becomes your job — including when you’re thinking about starting a new business.
In scenarios like this, money isn’t part of the conversation, it’s the only part of the conversation. It’s your highest priority when making your decisions.
However, remember that looking for money is not a job. Looking for money is not your business.
No, your business needs to focus on solving problems for other people, creating a profit for yourself, and taking that profit as a reward. That’s business, and that’s how you’ll responsibly manage your success.
Ways to Make Money | Be Creative with Your Resources
As many of you know, my first big success was with the fitness business I created and sold. However, before that I would sell things like watches and perfumes.
For example, when I was in Florida I set up a stall in a flea market. It cost me $7. In those days, I was so broke that this $7 meant I wouldn’t eat the night before.
Still, every market day I went to the guy who had the perfumes and begged and pleaded for him to take my nice watch as collateral.
I said, “You keep this watch until I bring you back the money to pay for this inventory. If I can’t, I’ll give you back the inventory — and it’ll be today. I’m only going out for two hours.” He agreed, and I got about six or seven samples, around $300 worth, which he spotted me for a $1,000 watch.
I got back to my table and started barking it up. I would yell, “Discounted perfume! Go to Nordstroms, go to Saks and pay full price, or you can get it right now. Do you have your Mother’s Day gift yet? You know Mother’s Day is coming up soon!”
As soon as I said the words, “Mother’s Day is coming up,” I saw people stop dead in their tracks, come to my booth, and go, “What is this?”
“I have discounted perfumes,” I would say.
“Okay, I’ll take two for my mother and my sister.”
“I don’t have two right now because I’m already sold out, but come back in two hours. Are you going to be around here?”
“Yes, I’ve got a lot of shopping.”
With this system, I started to sell product that I didn’t have just from those samples. How did I do it? I started in a way that I could start with the money that I had. I worked with what resources I had in a way that opened possibilities of making more money with that money.
Ways to Make Money | Solve People’s Problems
Additionally, I was solving a problem. I made people think: “I’ve got to get my mom something for Mother’s Day. What a hassle it’s going to be later in a department store when I could solve that problem right now for half price.” I started with seven bucks and ended up with $115 for just a few of hours of work.
Of course, there was nothing passionate or important to me about selling perfume or watches. That’s why I was never going to find lasting success doing that. Still, the lesson I took from that experience was that I didn’t let lack of money stop me from gaining access to more money or keep me from practicing responsible money management. Lastly, I didn’t let a lack of money dictate my success and happiness.
That’s how this money thing works, folks. Your happiness and success is not going to be based on money. Nor will money limit you from making more money now! Tell us some of your creative or clever ways to make money in the comments below. We can all learn from each other!
For Your Freedom,