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.
Stephen,
I agree….but would add, The Poor Gamble and buy lottery tickets…but at the same time they are the best at consuming consumer goods….that the Middle Class invest in, and that the Rich invented!
I believe that inventing ideas is the core of the entrepreneur….he/she just needs a place to invent…..to attract the money. That’s what we are all about at MyGeniosidea…(probably sounds like a commercial I know, but I’m working on my branding and keyword skills!)
Look forward to your launch. I’m blogging to my own launch and am probably 4 – 6 months behind you. Keep a journal, I might need to download it.
Gary
entreprenurship is a brilliant way of making money if you have the right idea, it may feel liek a long and hard journey but it is deffonatly worth doing
ooooooooooo