The Wealth-Killing Attitude

By: Rohail Rizvi
Submitted: 2007-01-17 16:16:47
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Entrepreneurs are motivated by a variety of things - a passion for the implementation of their ideas, improving the world we live in, and of course financial reward. The last one is especially of importance as it is the attitude the entrepreneur, especially the young entrepreneur, takes towards financial reward that may determine his or her ultimate state of wealth.

We can all get a bit cocky from time to time, especially when we see ourselves blowing up and starting make the big times after our businesses start flying. All sorts of thoughts are going through our heads including the thought of "I'm going to strike it rich." However, often times some of us haven't even seen our businesses get off the ground and we can already be seen thinking along these lines. This calls for an extremely dangerous mindset when it comes to our future wealth.

All of a sudden we find ourselves "spending as if." What do I mean by that? We find ourselves spending as if we already struck it rich, as if we just got acquired by Microsoft, or as if we just became the next Myspace. Whereas, we should be investing as much capital as we can into our ventures, we start to waste money on things that would be downright detrimental to the business. We start thinking along the lines of being able to pay off our frivolous purchases after our business blows up.

By spending now and failing to save or invest, we are already setting ourselves up for destroying any future possibility of real wealth. Of course, this is not to say that all entrepreneurs start following this line of thought. Entrepreneurs are one of the most determined, unwavering, and focused individuals I know. This is just to say that it's important to keep focused on the end-goal and not get delusional along the way.

Rohail shares advice through Young Wealth Weekly, a weekly ezine packed with useful information: http://www.youngwealthweekly.com

Article source: Expert Articles

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