You can be cool, ... or make some cash. Choose wisely.
Capital Thinking • Issue #96 • View online
“There’s more people who want to look rich, than to be rich”
- Zig Ziglar
Truer words were never spoken.
Here’s the deal: Either you provide a service or product that people actually want or you’ll find your bank account suffering as a result.
Just provide a service (or product) that is valued by your community. Build an audience.
It’s as simple as that. Really.
Andy Drish wrote this little piece a while back, but I don’t think it’s any less relevant today.
The Cold Hard Truth About Business: You Can “Make Cash” or “Be Cool”: Choose One.
If anything, I see the “let’s be cool” trend increasing in speed as more and more folks buy into the “fame equals bank” folklore.
My wife and her hairdresser, have known each other for over __ years. (Yes, I know it’s kind of chickensh** not to put in the actual number, but I was threatened with bodily harm if I did.)
Anyway, they’ve shared each other’s lives, watched each other’s kids grow up, and remained close for that entire time.
A couple of points: The hairdresser and her husband run a highly successful salon. There’s more than enough chairs. I mean, they could easily expand but a long time ago they decided not to grow or hire more staff.
They could have. They just chose not to.
For years, they’ve only owned one car at a time. Since both of them worked at the salon, there really wasn’t a need for more. And most of their spending is modest.
That said, they live in a very nice house.
A very nice house that is totally paid for. As in no mortgage. Zero. Zip. Nada.
Did I say it was a nice house?
Make that a VERY NICE HOUSE: Over 5,000 sq. ft, 5 acres of grounds, tennis courts, pool, guest quarters.
They will do very well in retirement. Much better, in fact, than most of the owners of more “prestigious” businesses and salons in town.
They provide a service that is valued by their community. They built an audience. Simple as that.
And getting back to the point about “famous vs. bank”, their son chose a career in photography and film.
You’ve never heard of him, but his videos have exploded onto Youtube with views into the millions. Not once, but several times.
He’s been hired by large, global firms to produce videos for them as a result.
Even with all that, he still struggles to cover his rent, the cost of his equipment, and to put food in his mouth.
But doesn’t all that social media success he’s had translate into money?
Evidently not.
The Reality is ...
Here’s the deal: Either you provide a service or product that people actually want or you may find your bank account suffering as a result.
Now, I don’t know whether or not you pay much, if any attention to the Sumo guys down in Austin. (You should, you really should). But I’ve followed Noah and Neville for years (along with some others in their group such as Brian Dean and Billy Murphy).
And while they can definitely spin off into silliness at times, more often than not they make a point or two worth thinking about.
Here’s one of those from Neville that is surprisingly (or not) along the very same lines as Andy’s post.
Take care,
Eric
*Feature photo by Matty Adame on Unsplash