Spending money to (make/lose) money

Posted: June 8, 2010 in Business, Management, Productivity
Tags: , , ,

When I was a struggling freelancer, I hated to spend money. I hired myself to do everything possible, because money I spent was money I didn’t get to keep.

When I was hiring researchers to find great leads for my first internet company, I loved to spend money. Every penny we spent made us four pennies, so I spent as many pennies as I possibly could.

And there’s the key distinction between two approaches to money.

If you build a business that processes inputs (leads, articles, code, attention, visitors, employees) and produces outputs that work, you want as many as you can possibly find. And if you view the world as a small pie with a finite number of pieces, better not spend on anything you can possibly avoid. [read]

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