Life is Like a Bathtub!
I was listening to a CD the other day by a guy named Robert G. Allen where he uses a very interesting analogy. He says to imagine that your financial life is like a giant bathtub. When we turn on the faucet, it’s like getting a job. The problem with most people is that they turn the faucet on but they don’t realize that they haven’t plugged the drain, not only that, most bathtubs have many drains that are letting the hard earned money waste away.
What’s the normal mentality in this situation? Most people want to look for ways to turn on more faucets, or maybe they can make more money flow out of the faucet they have, so they try to get a raise or something. The problem with this mentality is that the drains are still unplugged, and if you’re not careful you could find yourself with more drains then you had before.
So what’s the solution? You have to do a bit of both. You have to look for more faucets to turn on, and you have to plug your drains.
As an entrepreneur you have to always be on the lookout for opportunities. They are everywhere, and when an opportunity comes your way, you have to be ready to identify it and turn on that faucet. But if you want to be a millionaire, you also have to think like one, and millionaires hate leaks. Take a good hard look at your monthly budget (if you don’t know how to do a budget, don’t worry I’ll be doing a post about it soon), see what you can cut out, and cut it out.
Turn on faucets, but don’t forget to plug those leaks.
Simon
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