First you Learn, then you Earn
First, you Learn, then you Earn. It is not only a catchy slogan; it is a drop of wisdom.
Money management, investing, and business is a sector with its own lingo, principles. It is important to learn “the timeless rules of the game”. Once you have internalized them, you will have the capacity to build your own assets, generate returns. This will help you secure the means to achieve your goals.
On this subject, I recall a story by the magnate Andrew Carnegie. His confidence in his business acumen made him state that he would have recovered from the worst losses in a few years because he knew how to raise money and manage profitable ventures.
Let me share another bombastic and non-politically correct story by Dan Peña. He once made a point that, even if we asked the wealthiest individuals to give away all their wealth, they would recover it in a few years because they knew how to raise money and invest it, while the rest of the world only knew how to spend it.
My key takeaway from these eccentric stories is the importance of democratizing financial knowledge and promote the pursuit of financial acumen. In entrepreneurship, personal finance and investing, the goal is to Invest in yourself first: first Learn, then Earn.
Until next time,
Sweat your Assets.