The Poor, Middle Class and the Rich all have different ways they approach money.
(By the way, the word ‘poor’ here doesn’t refer to people lacking opportunity, education or health. Moreover parts of the general populous with equal talent, opportunity and potential as you and I, but have financial difficulty.)
The Poor spend money
The Middle Class invest money
The Rich invent money.
Entrepreneurship is about inventing money, this is why successful entrepreneurs become rich. They don’t buy something and wait for it to appreciate. They build their finances conceptually. They get Tony to design something, Paul to pay for the project, Mary to provide the widgets and Joseph to build it. They do this because they intuitively know that Lisa will pay much more for what they invented than it cost to pull together.
Inventing has never been about being a technical genius. It’s about vision and creativity.
Vision and creativity are core for us entrepreneurs. Entrepreneurship is about inventing mini economies. We co-ordinate the factors of production, factors of production that aren’t currently linked. We’re inventing transactions.
If we’re good enough, we’ll invent money too.