Making money is a lot like writing, it takes tons of practice, lots of failures before you ever really get a real understanding of how the process works.
Just as any author that starts the next book after having a best seller, the businessman is no different. One good deal does not mean you quit or back off, but move on to the next challange. There are simple basic rules to business just as there is to writing. Just as there are places like the WF for writing, there are lots of resources for those who wish to learn about business and accumulating wealth.
It does take almost the same effort to write a bad book or story as it does a good one. The difference is in the details and the talent of the writer. Some of it may come naturally, most of it comes from hard work.
So when is enough, enough? I often hear people comment how they are happy to have what they have. No desire to earn more, make to the top, or even worse somehow feel that financial success is somehow and evil thing. We expect good writers and storytellers to keep telling stories, that is after all what they do.
This is where discipline comes in, something I have been struggling with the last few months with a new partner. I have multiple businesses and multiple partnerships in other businesses. I am a silent partner in those. I offer financing and business advice. There are a few times when I am a hard nose hard ass, when it comes to how things are done, but very rarely. I am for the most part a cheerleader, "You can do it. Good job. This is how you might want to do this or that." Teaching someone the art of making money is what I try to do.
I am very selective in who I invest my time and money in. I work with what I consider hard working moral men who I can trust, as I still do business on a handshake.
This is the part that has me stumped. Say you were making a $1000 a week. I take you on as a partner, you will have an investment and stake in what we do. You will work longer hours than you did in the past and you will be exposed to risk. So lets just say as an average instead of making that $1000 a week now you are making $3500 a week, do you cut back your hours just because it is more money than you are used to?
All businesses succeed when they take care of customers needs, and solve a problems for them. The people you are responsible for, the more people that depend on you the more successful you will be.
When I take on a new partner it is because I have created a new market or customer that needs what we make, those customers depend on us.
This is the part that I have been struggling with, I need my partners and my companies to be able to take care of those people. It has nothing to do with did you make enough money to keep you happy. Most of my partners in order for me to take care of business, need to make more than just a good wage. For me to make money off them, they need to be at the top of the game not treading water.
I am up front with those that I deal with, I explain to them that I can make them a millionaire and that in the process they are going to make me a lot of money as well. I let them know that when they are successful that I am successful. I ask them, will they begrudge me making money off them if I make the rich. I have never had anyone tell me no in the beginning.
What I am struggling with is someone who is happy to make more money than they did before, but as soon as they get to the point where they have more than they need, to keep working and not call it a day or week.
While most here will not be able to identify with monetary aspect of this problem. All most all of you at some point decided that even though you just wrote a great story, had it published or won a writing contest, you did not stop writing nor slow down.
I work and make deals long after I need to, just as some of you will always write.
Is this a trait we are born with or can it be learned? Maybe it is strength maybe it is a weakness. I would be interested in hearing your thoughts about what motivates someone to keep going, through sucesses or failure.