When I made a decision to be in business, I had three goals in mind. My first goal was to make money. I wanted the money to get my freedom to do whatever I wanted. Then, I wanted the money and freedom to provide me with opportunities to be of service to others. However, as I was working towards my goals, I heard this ridiculous myth over and over again about how people shouldn't be in business to make money. What? That just sounds crazy to me! Why would anybody be in business if they didn't want it to be profitable?
Myth #8: You shouldn't be in business to make money.
Huh, what, how are you going to pay the bills? Remember, we're all about 2 things: serving and helping others, which we already mentioned here. That's one side. Now, we're talking about business. What do you mean you are not in business to make money? Of course, you're in business to make money. Is everybody catching this? "Well, I just want to serve the world." Yeah, me too, but I would like to never eat Top Ramen noodles again.
My friend and coaching member, Larry Broughton, has hotels. Larry, what are your hotels worth now, $250 million? Awesome, and do you have more than one? Yes. How many, 17? No, you just acquired one, did not you? No, 17. 17 hotels, $250 million business. Are you in business to make money? Yes. Okay, folks, Larry is an example about doing one thing and doing it well, so you can serve, too. It is about both, folks, money and service. Realistically, it has to be about the business if you are going to be about service for more than one season or more than one year!
Let us consider non-profits. Did you know that non-profits are in business for the money? Yes, they are in it for the money. The money is to provide for the charity that they want to give to, whether the money is for people or animals or something else. If they do not make money, they cannot be of service. In a sense, the only difference between a non-profit and for-profit is that, at the end of the day, the non-profit has to prove they gave a majority of their money away to others. The for-profit can determine how much they want to give away and how much they want to keep.
Did you also know that a lot of non-profit businesses have paid staff? Yes, the best money making non-profits have hired help because they hired help to run the business side of the business, so that the charitable side of the business can be funded. Both are businesses that need to run efficiently, and they need money to do it!
Myth #8: You shouldn't be in business to make money.
Huh, what, how are you going to pay the bills? Remember, we're all about 2 things: serving and helping others, which we already mentioned here. That's one side. Now, we're talking about business. What do you mean you are not in business to make money? Of course, you're in business to make money. Is everybody catching this? "Well, I just want to serve the world." Yeah, me too, but I would like to never eat Top Ramen noodles again.
My friend and coaching member, Larry Broughton, has hotels. Larry, what are your hotels worth now, $250 million? Awesome, and do you have more than one? Yes. How many, 17? No, you just acquired one, did not you? No, 17. 17 hotels, $250 million business. Are you in business to make money? Yes. Okay, folks, Larry is an example about doing one thing and doing it well, so you can serve, too. It is about both, folks, money and service. Realistically, it has to be about the business if you are going to be about service for more than one season or more than one year!
Let us consider non-profits. Did you know that non-profits are in business for the money? Yes, they are in it for the money. The money is to provide for the charity that they want to give to, whether the money is for people or animals or something else. If they do not make money, they cannot be of service. In a sense, the only difference between a non-profit and for-profit is that, at the end of the day, the non-profit has to prove they gave a majority of their money away to others. The for-profit can determine how much they want to give away and how much they want to keep.
Did you also know that a lot of non-profit businesses have paid staff? Yes, the best money making non-profits have hired help because they hired help to run the business side of the business, so that the charitable side of the business can be funded. Both are businesses that need to run efficiently, and they need money to do it!
About the Author:
James Malinchak, Presented on ABC's Hit Tv Show Secret Millionaire, is regarded as by many people industry experts as the World's #1 Big Money Speaker Coach and Trainer. For Free of charge Video Trainings concerning how to get money to speak and how to be a speaker trainer, have a look at www.BigMoneySpeaker.com.
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