Control The Space
What do I mean by controlling the space? It means to own and stack more debt. However, the word debt itself is frowned upon. Yet, debt is the best thing any business can have. Can we all agree that debt is not the real issue at hand? Think about that for a second.
The biggest misconception in life is, "All debt is bad debt". That's not true, it's all backwards. However, that's what most people have been taught. We've all heard the following during our childhood:
1) Save money for a rainy day.
2) A penny saved is a penny earned.
3) Make sure you put away 15% of your income every month.
4) When it comes to money, don't take any risks.
5) Save while you're young.
Now that's all wrong. All it tells you is one thing: contract. Back up, retreat and hide because the world is a scary place. What you're really being told is,
"Don't try to earn more money, stay safe and conserve every dollar you have!"
If you follow that mindset, the market will eat you up. You'll end up living an average life. Now I KNOW no one wants to be average, so much as living an average life. Debt is not your problem, income is.
Take this into consideration, Coke-cola has 14X more debt than they have revenue. Caterpillar Inc. has 16X more debt than revenue- even Apple, Facebook, Amazon, the list can go on. They all have debt; owning debt is how they grow. I believe in debt so much that I'm in debt myself buying Amazon stocks (NYSE: AMZN). You want to grow your business? Welcome debt.
“Spend the money, control the space.”
-Mark Zuckerberg
Now look at number two. Let's keep it real, if you're saving pennies, you're only ever going to make pennies. You're will not get anywhere in life by saving pennies on the dollar. Lose that price tag mentality. A price tag does not exist, it's a daily reminder that you need to hustle harder! To save is to just refuse the potential to earn more money.
“Money is only for one thing, to own the space.”
-Grant Cardone
It also seizes to amaze me when I'm at a book store. During one of my trips, I noticed a man standing in the same aisle. He grabbed two books. What he did next was amazing! He flipped both to the back. Then he stood there, contemplating. I decided to see what he was thinking about so I grabbed them myself- it was a price decision. My god, there was only a $8 difference! So, I decided to start a conversation and save him.
Me: Having a hard time?
Man: Yeah.
Me: Are you really?
Man: What?
Me: No offence but, if you're deciding which book to get because of how much it costs, you're never going to get successful. You don't pick up a book for how much it costs, you pick up a book to find a million. Buy them both, because that extra $26 you might save on buying only one, may having something to offer the other one doesn't. What do you think $26 will be worth in five years any how?
Stop saving every dollar you can and start investing every dollar you can.
“Money is no good, it goes down in value every day. Can’t get enough of it, once you get enough of it, you find out you don’t have enough of it. There’s no shortage of it”.
-Grant Cardone
Follow me now on twitter: @itsjaidenvu.