Avoid the Spending Trap

Don't get too excited when you start earning a lot of money before you plan and weigh it.


In 2000, my phone received a call with another request. so-called new technology projects; They wanted to know if I could sell my business. That year, the Internet went crazy. Not a day goes by without the long story of a few millionaires who made money selling tech properties. Do you remember the famous millionaire? This subgroup of wealthy people has grown at an astonishing rate
Inflated golf course.
So I want to sell my business? Of course! I have three offers to sell.
Offer 1: $ 250,000.
Offer 2: $ 550,000.
Offer 3: $ 1,200,000.
I took three offers and became a millionaire ... right away ... well, almost. did not last long.
At the time, I thought $ 1.2 million was a lot of money. never. Tax collection. Stock options are worthless. You made a mistake and you misinvested. I bought a Corvette, and hoped it would enrich me. I thought I was rich, but I didn't. When I finished, I had less than $ 300,000. Art bubbles have unforgivable consequences, at least for my corporate buyers. My advice is to make bad decisions, good decisions to make short-term gains, but bad decisions to make long-term growth. They throw money down the toilet as if they had an unlimited reservation. Do we really need private label water bottles? Logo T-shirt? This is income
Make a move?

Move to Fastlane Millionaire

The decision is made slowly and by the committee. Customers are not respected. Certainly, most corporate management executives have Harvard MBA degrees, with no business logic behind your name in expensive capital letters. Despite the $ 12 million risk capital to prevent the storm, Lee-ku
This site is slowly disappearing.
A few months later, on the verge of bankruptcy, there were rumors that my website would be shut down, even though it was still profitable. The technical buyer is dry and the stock is in the tank. Everyone, including them, has lived.
Since I didn’t want to forget my job, I offered to buy my website for $ 250,000, funded by my own profits. He accepted the offer, and regained control of the company he had sold the previous year. In fact, I would run the business, make a profit, and pay off the loan. Put the rest to work again. When my business came under my control again, a new impetus was created, not only to survive the failure of the Internet, but also to grow.

Source: MJ DeMARCO's Millionaire Fastlane
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