Money: the fibrous paper that causes dreams to be made and crushed, world’s destroyed, and people made. Life revolves around it and the world spins from peoples constant chase of it. How can you win if you do not chase money? We have written many articles revolved around the chase. Chasing your passion and not chasing money, but how can one steer clear of chasing money when money holds so much strength by influencing a lot of our actions? It is indeed difficult to ignore such an important part of our day to day lives when trying to reach our goals.
Ignoring the chase for money is very necessary if we are to succeed in the long run. A fact of truth, chasing money will lead you nowhere when dealing with entrepreneurship or a large project, but it is also true that learning to make money is an important part of growing in business.
There is a significant difference between chasing money and making money . Thus, it is important to clearly understand the difference between the two and the impact they make on your life. Entrepreneurs often make the mistake of chasing money as the goal for their project which causes hasty irrational actions, extremely poor judgment and low tolerances for failure. Understanding that funding and stability is required in order to be successful and create a lasting prosperous future.
Here is how we differentiate the two and how they each make sense:
Learning to make money is all about your understanding of money in three areas: commerce, finance and business. More importantly your understanding of debits and credits which will allow you to know how YOU can make money anywhere from side gigs to working for corporate America or any possible endeavor. Learning to make money is very important as it will determine your future and how you live. Furthermore, it will also play an important role in your ability to focus on your project rather than the monetary gain right from the start.
Chasing money is when your project’s end goal suffers due to the constant push for a quick buck. A perfect example of that would be putting out a poor product in turn lowering your quality and standards. Sometimes for example, releasing your product too quickly in order to make money rather than slowing down production and perfecting your product prior to release. If you think about the outcomes, one makes you quick money, the other more money and more continuity. Chasing money means making decisions that result in monetary gains rather than long term growth for you and your business.
Understanding how to differentiate the two and mastering how you can make your money outside of expecting your project to make money quickly is the key to long term growth. Quality over quantity leads to more and more business in the long run.