Another one of my beloved X19s I worked hard for in the early days! If someone would say to me would I rather work for my money from scratch or be given it, I would always say work for my money. Do you know why? Because I am fearful of the future. You see, people who are given money, usually waste it or don’t know the value of it, so many of them wind up destitute (look at stats for lottery winners). Those who have worked for their money, value it, understand the importance of it and usually (not always) plan for their future because they know how hard it was to make it. I will give y
ou an example. Whilst I was slaving away building my business, a good friend of mine was given £600k (15 years ago) by his dad to start a business in London. He went on and splashed on the newest most expensive dry cleaning equipment and opened a dry cleaning company. The £600k was gone soon enough and he had a running business. The problem was, what was he supposed to turn over? What should his profit margin be? What should he spend on or save on? He had no idea! He hadn’t started from the beginning. He didn’t have a clue! He had thrown himself sort of midway in a business and had no clue about his business graph as such and how it should be going. Other people were so envious of him. I always felt sorry for him. Last time I saw him he was still working like a dog, without the £600k and even further from ever earning that sort of money in his lifetime. What’s my point? Sometimes, it is good to start from the bottom and if anything, when you start from the bottom, it grounds you for life.