Investment & Financial Articles
Title: A Lesson In Money Management
Author: John Colanzi
Article:
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:streetsmart@rapidreply.net Download your free
copy of Secrets of Success.
http://www.internet-profits4u.com/streetsmart.exe
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