Now, I don't have to worry about money at all, and I sincerely believe that people living beyond their means will enjoy peace of mind that spendthrifts cannot understand . Many people I know immediately upgrade their lifestyles as soon as they start making big bucks , but it also makes them want it more and more. As you upgrade your lifestyle, your expectations increase and a new normal is established. This "new normal" is much more expensive to maintain, so you won't necessarily be happier. For example, I can buy a much bigger house for twice the price , but will it make me twice as happy? Will a bigger house make me a better dad? maybe not.
Once you've made some money, you should still live as your humble old self so you never have to worry about money again. Basically, you want to get to the point where you can say you're done . You are retired. And you'll be dedicated to what you want to do and spend time with the people you want to spend time with . Lesson 9 – Be stingy with business expenses Making ends meet also applies to business . My friend Joe Valley recently explained to my class Fax List how to evaluate and sell your business. A key takeaway I leave is that every dollar you save in your business adds $3-4 to your bank account . why is that. When it comes time to sell your business, most e-commerce businesses make 3-4 times your income . So for every extra dollar you earn, you can sell an extra $3-4.
Those who have followed me for a long time know that I always try to write my own applications instead of paying recurring monthly fees. If there was an app that would let me code in a week or less and save me $50 a month, I'd take the time to write it myself. Now it's clear that if you want to scale your business quickly, it makes sense to pay money instead of solving the problem yourself . But it all depends on your goals and the expected increase in sales with the new tool .