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While the world is focused on money lost, here's how to win $
Money is the devil they say...
I've been thinking a lot lately about our green currency. After all, who hasn't been following the massive unemployment numbers? The evisceration in sales across nearly every industry? The words depression... recession... downturn... playing on the tv like a depressing robotized rap song. Sidenote: if you haven't listened to UK drill rap, it's a thing, and it's kind of fantastic.
So as I thought about Benjamins, I got myself all worked up over the nomenclature people use these days to talk about money. The interwebs are littered with quotes like the below:
“Time is more valuable than money." - Jim Rohn
“It doesn’t matter about money; having it, not having it. Or having clothes, or not having them. You’re still left alone with yourself in the end.” - Billy Idol
“Money is like muck—not good unless it be spread.” - Francis Bacon
So directionally I understand where these gents are going. They have wealth and they've reached a tipping point where more of it is really not impactful on their life. I begrudge them their success not at all. BUT in this world we live in today money is a necessity, not a nicety. Too often we diminish the importance of it, we make people feel dirty for the want of it and guilty for the "privilege" of having it. We lambast those billionaires who have accumulated it, those millionaires who drive too nice of cars and separate the elite from the rest.
All that really does is keep the separation growing, instead we should be teaching others how to accumulate it. Money is not a constrained resource, at least not if we continue in a capitalistic society. You can earn AS MUCH as you earn. The unfair advantage comes from knowing how to earn. So today I thought I'd share a few tools that have helped me accumulate. These are nuggets, seeds to be planted... but you know what happens to seeds? They grow into forests.
So while the world is focused on the money we've lost, and the haves vs the have nots, let's plant seeds. They'll come out of this with nothing but vitriol and we, we will have green trees my friends.
First Money Mindset:
Ramit Sethi talks about What the Wealthy Discuss that Most Do Not - It's not about penny pinching it's about revenue stream adding.
How to Buy A Business w/ Future Revenues - This podcast is the best example to date of the thing that seems HUGE to most of us, buying a business. The truth is that these mom and pop businesses are not just for the uber-wealthy to buy, in fact the structure lends itself to small people like me and you. Listen to this podcast, let me know if you want to know more. I find this fascinating!!! 7 million boomers retiring and ready to sell their businesses.
Side Hustle Nation - My favorite site for layering on side businesses and revenue streams w/ 100's of ways to get additional revenue.
Next Money Inflow:
THE NUMBER 1 THING I RECOMMEND EVERYONE TO DO - Have your own website. Mine is in my name, yours can be whatever you want, but in this age websites become increasingly like business cards. You can set one up in 1 hour for $20 on squarespace and $4 monthly hosting. I have an entire post on how to do this because I think it is so critical.
Fundera - A site that helps you access as many small business financing options as possible. They also help with PPP and SBA loans right now so it's timely. It's worth at least filling out your applications here if you haven't and qualify.
Trends.co - My friend Sam Parr started the Hustle (now $2MM subscribers generating more than $10MM in revenue from a newsletter). He started a new business called Trends.co that hits on the Trends no one is talking about, I immediately signed up. Sam is brilliant.
The truth is money is just a tool or dare I say, a weapon.
The question becomes do you want to hold the weapon... Or let someone else?
Happy Questioning,
Codie Sanchez
Cannacurious? Want to get into the game... here's our contrarians guide
IG: @codiesanchez
EEC: www.entourageeffectcapital.com
This article is presented for informational purposes only, is an opinion, and is not intended to recommend any investment, and is not an offer to sell or the solicitation of an offer to purchase an interest in any current or future investment vehicle managed or sponsored by Entourage Effect Capital, LLC or its affiliates. Any such solicitation of an offer to purchase an interest will be made by a definitive private placement memorandum or other offering document.