Having been in the personal branding business for a while now, I’ve had the fortune of meeting a lot of people from different walks of life and at different stages in their personal development … students, business executives, entrepreneurs, etc. What I found to be very interesting is that aside from their desire for success, most of the people I’ve met share one of two common myths about money.
Myth 1 – You need money to make money – MONEY AS AN OBSTACLE
Myth 2 – You need to work in something that generates money – MONEY AS AN OBJECTIVE
Let’s tackle one myth at a time – shall we:
Myth 1 – MONEY AS AN OBSTACLE
I’m always interested to be around entrepreneurs and startups, they have so much energy it’s contagious. Their biggest concern is usually money: “Where will we get the funding from” or “if only I had the money to do it” … Money is treated as an obstacle that prevents brilliant ideas from seeing the light of day! Such a shame!
Wake up call! Your idea is worth millions! All you need to do is learn how to present your idea in a proper business plan and consider one or a combination of the following funding options (this is not an exhaustive list) :
- Family & Friends
- Partners / Shareholders
The last option is my favorite – basically, instead of hiring people to develop your business, bring them into your team and make them a part of it – give them a piece of the pie!
Myth 1 busted!
Myth 2 – MONEY AS AN OBJECTIVE
Students are definitely my favorite clients to deal with – they are full of hope and excitement. Fresh graduates come to me for advice on the next step – be it in education or work. Unfortunately their process of thinking is usually overshadowed with the idea of making money … they look at money as an objective to aim for. In reality this is never the case, unless your objective in life is to win the lottery.
When I ask some students why they want to pursue a masters in finance and not in brand management for example, their answer is “because finance is where the money is!” Don’t shake your head in disbelief! I’ve helped over 300 students in choosing their graduate studies, and trust me when I tell you, this is a very common answer.
Second wake up call! If you follow your passion you will make money. Money is certainly not an objective, but definitely a result of your hard work and grit. Unearthing your passion and defining your purpose is no easy task, but it’s well worth it!
Myth 2 busted!
So now that money is no longer an obstacle nor an objective, what’s stopping you from shining! Remember what I always say, “You Shy, You Die!”