You spend 29 cents on a loaf of bread, you've still got seventeen grand. There's a math lesson for you. - Steve Martin
“If you've got a dollar and you spend 29 cents on a loaf of bread, you've got 71 cents left; But if you've got seventeen grand and you spend 29 cents on a loaf of bread, you've still got seventeen grand. There's a math lesson for you.”
― Steve Martin
Love this quote. Think about it.
Discipline matters on cash flow, particularly where money is tight.
You will want to spend the extra, but remember that you are generating money from the system you have the products you sell, from what you already own, and since you need money to grow, you need to spend less on things that do not generate income. For every dollar you spend you need what you bought to make two dollars or more. You have to keep the machine running.
Once you are ahead, put some aside for any future issues or growth, returns, system problems, etc. Always be looking for new opportunities, and always look for a way to make more and spend less. The best solution is something that you can make that is low cost to produce and low cost to ship and most importantly, people want. You can make more money, you can find new things to sell, but you cannot get more time, it is infinitely valuable. To create something that takes hours to create and then sell for pennies is to destroy any chance you have. Value your time.
“We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.
— Charles T. Munger”
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