“They are
ill discoverers that think there is no land, when they can see nothing but
sea.”—Francis Bacon (1561-1626, British Philosopher, Essayist, Statesman)
If
you’re a business owner, you might be surrounded by sea, but you know there is
land out there somewhere and you are determined to find it. You are investing
in the invisible – the land you can’t see yet is the land of your dreams, your
goals, and your brilliant, successful future filled with riches, profits, and
rewards. If you’re thinking of becoming a business owner, you’re thinking about
investing in that same invisible, glorious dream.
Either way, all the financial advice you’re getting in the
media right now is wrong. “Save your money.” “Pay off your debt.” “Don’t buy
anything – wait until it’s clear the market has hit bottom.” (Trust me, by then
the savvy investors will have bought all the bargains.)
70% of the economy is consumer spending, and consumers spend
when they’re making money and feeling secure. When they keep getting bad news
about the economy, they get scared and feel insecure, they put on the brakes.
Everyone is doing affirmations about the economy these days – it’s just that
they’re all negative ones! So you need to be one of the ones spreading Wealthy
Spirit Wisdom – do joyful affirmations like “I am rich and wonderful!” and “I
am a successful money manager!” and believe in yourself and your dream.
Years ago, I listened to a successful business owner talk
about how she grew her $3 million a year manufacturing business. At one point,
she turned to the audience and said, “To grow a large business, you have to get
more and more comfortable with bigger and bigger negative numbers.” Scary,
maybe, but true. You have to invest capital in expansion – more space, more
equipment, more marketing, more help. And most business owners borrow money to
do that. Bill Gates didn’t build MicroSoft on his savings. He got the Bank of
America involved. Steve Wynn didn’t build the Mirage, Belagio, and Wynn hotels
in Las Vegas
without construction loans from banks.
So when business owners tell me they have cut back on their
marketing, or they aren’t willing to borrow money to grow because they don’t
want to be in debt, I worry for them. Either you believe in yourself and your
business, or you don’t. If you believe in yourself, you know that you have to
spend money to make money. You need to do even more marketing in a slowdown
than you do in boom times. Who cares if you have some debt right now? Cash flow
varies when you’re in business - that’s why you have a credit line. Pulling
back isn’t going to get your more customers or more profits. No one coasts
uphill.
If you see a business opportunity you want to invest in,
don’t pass it up because you’d have to borrow money to do it. This isn’t
consumer spending that the financial advisors are warning against – it’s
building your successful business of the future. It may be invisible today, but
you must invest in your vision or it will never become visible. Yes, you want
to make sure that you have a plan for how to be profitable and pay back the
loan eventually, too. But if the business plan is sound, if you’re passionate
about the work, if you’re willing to do the work, then go for it! As Douglas
Everett said, “There are some people who live in a dream world, and there are
some who face reality, and then there are those who turn one into the other.”
The banks got billions of bailout dollars from the
government, i.e., you, the taxpayer. When you put money in savings, where is
it? The bank. When you pay off your credit cards, or credit lines, or your
mortgage, where is it? The bank. The banks have all the money, y’all. But when
you borrow from them to start or build your business, the banks give the money
to you.
Now that’s the way it should be!