Friday, November 25, 2011

Do You Know Your Cost of Making Money?

Everything has a cost. We read a lot about the need of making sacrifice to start a business and making money. Before you nod your head saying that you already know that. Ask yourself this question, how much are you willing to spent on making money? When will it reach a level where you think it just cost too much to make money?

The cost itself may not only be time, health but also  your social well being. Being busy making a business work, your family life, health condition may take certain amount of beating. So you must know where is your limit. If you go beyond your limit, the money that you made may not necessary be worth your while.

For example, you have an important contract to negotiate but it is also your kid's school performance. Do you try to re-schedule the negotiation and risk the deal or you miss the performance and take the deal? Both comes at a price. Whatever decision that you made, there should be no regrets on your part.

Know your limits. It actually cost you something to make money. Be sure to know how much you are willing to "spent" on making money.

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