Why a Successful Business Is Not Enough to Make You Rich

A business will not give you freedom if you’re not smart with handling money. Then, you need to build investments that allow you to be financially secure. The most fundamental thing we need to be free is to have the money for it. After, you can build up trying to be free with how you spend money you have. No matter how rich you are, if you’re not in control of your time, you lose. Finally, gaining freedom with money and time, you want peace of mind.

Whenever you get a job, think about how it will affect time and peace of mind. It’s obvious that you need to think about money but it’s not all there is. Every yes is a no to something else in your life and it may be costing you. Making money is useless at times when you don’t have time for family.

Having a business, you need to build that business, not just work for it. You need to create a business that can still function even with you not there. After building a sustainable business, make your money work for you. Otherwise, you’re not going to have peace of mind nor time for yourself.

Every great business owner laughs at himself for ever doubting himself. But what’s worse is after winning, they will then say the success was a fluke. You cannot win a game when you’re just doing your best to avoid losing. Don’t ever do that or else you will lose the edge that got you success at first.

Usually, you don’t have money problems but behavior problems. You have habits that are causing you all these problems with your finances. If you want to build wealth, you need to be building assets right this moment. Whatever income you have, all of that will be gone with the wrong spending.

First, know what expenses are wants and which one of those are needs. Cutting out the things you don’t use can be so much more when invested. All the small expenses can pile up into an investment that grows with time. Your 50-dollar choices can cost you 300000 that you could have grown. If you put 50 dollars into investments for a kid every week, it’ll be millions. It’s not going to be the money that gets you rich but the good habits.

Source: Mel Abraham