In the Acton Hero video about Corey Bell, I learned that in entrepreneurship people don’t use the word ‘can’t’. If what you are doing does not line up with your vision of what you want your life to be (your 15-20 year plan), change what you are doing to make your vision happen. If your goal is to do something that touches lives, do it! Don’t just hope for it! Live a life without regrets! I don’t want to die with the question “what if…?” What if I had followed my dream, what if I had gotten the right education, etc… I need to live my life in a way that when I die there are no ‘what if?’ questions. You should rise to the challenge of following your dreams. When you meet people you should try to take something away from the interaction that inspires you. We owe the world, the world doesn’t owe us. People are not worried about what you did in your life after you have lived it, but they want to know who you are. We are put here on the earth to make an impact.
I really liked learning how to handle money and how it is related to running a business in the book I read called The Total Money Makeover by Dave Ramsey.
Notes from the book:
- 7 Baby Steps (these more apply to life and less business)
1. Make a $1000 emergency fund fast
2. Debt Snowball- make a list of your debts smallest to largest and pay them off in that order
3. Fully fund your emergency fund. Equaling 3-6 months of expenses
4. Put 15% of your income into a retirement fund
5. Start putting money into a college fund for your children
6. Pay off your house
7. Build wealth & give!
-Don't overspend, even when you think you have the money to overspend! This applies in your life and in running a business!
- Don't use credit cards!
- "Wealth building isn't rocket science. Winning at money is 80 percent behavior and 20 percent head knowledge" (Ramsey, 33)
- In your business "honestly assess your earning capacity and live below your means"(Ramsey, 36).
- USE A BUDGET & Practice the Envelope System!!
At this point in our $100 Challenge project I have picked out which kiva organization I want to donate to. :)
No comments:
Post a Comment