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| | The Employee to Entrepreneur Network is not currently active and cannot accept new posts | | Money-driven people vs. experience-driven people | Views: 178 | | Sep 04, 2008 1:32 pm | | Money-driven people vs. experience-driven people | # | 
Denise Michaels | | Hello Aspiring Entrepreneurs:
Over the last decade I've met a lot of entrepreneurs and I've discovered they generally fall into two camps: I call them money-driven people and experience-driven people.
Money-driven people are happy doing just about anything in terms of work or a business as long as it's legal, honest and has the potential to create great cash flow. Their happiness, passion and motivation comes from the flow of money coming in. That's what drives them - not necessarily what they're actually doing with their time.
In contrast, experience-driven people absolutely have to be doing something they're passionate about whether it makes money or not. They will take something they love and try to find ways to make money with it. (That's me.) They are miserable when they are doing something "just for the money."
In fact if they are swayed by dollar signs for a while they probably won't make a lot of money at that venture - in fact they may even lose money doing it. One great example is experience-driven people who jump on the bandwagon with an MLM company. Some know it's not their cup of tea right off the bat but they do it because someone dangled dollar signs in front of their eyes. They often end up losing money - not making it. The money-driven person is the one who does make money at the MLM business because their "jazz" or motivation comes from that commission check.
My observation is over the course of their lives - money driven people tend to have more financial wealth because that's what they put their focus on. Experience-driven people who are really living their dream every day feel often that a good chunk of their "wealth" comes from being able to do the thing they love every day. So, it's an intrinsic thing almost more than a dollars and cents thing.
Once in a blue moon an artist or creative type will figure out how to leverage his or her talents and become wealthy (a Hollywood movie star comes to mind or a writer like John Grisham) but I don't know anyone like that personally.
I've known a lot of highly successful real estate and stock market investors - who are money-driven. They are generally happy, upbeat people. Some will make the money they need to live on in a residual way - and then they'll go out and do something they're really passionate about like write a book or become a speaker or something.
I'm definitely an experience-driven person - though I have used leverage successfully, too. How I spend my time and using my talents is absolutely crucial to me. I believe it's really important to know what kind of person you truly are and find a business that truly suits your style so that you'll create the most money and the most joy in your life.
Which category do you fall in?
All the best,
Denise Michaels
Author, "Testosterone-Free Marketing"
PS: Visit me online at http://www.MentoringwithDenise.com and follow me on Twitter as DeniseMM.Private Reply to Denise Michaels | | Sep 13, 2008 6:07 pm | | re: Money-driven people vs. experience-driven people | # |
Peter Townshend | | I agree that there are business owners that are only motivated by the dollar. I believe that these businesses will never truly meet their potential. To truly succeed in business you must love what you do and be in business because you love the experience.
On the other hand...
My experience has also shown me that many truly gifted business owners, who love what they do and are exceptional at it, suffer unnecessarily and do not enjoy the lifestyle they deserve because they have negative views of money, or are afraid to ask for the money they deserve.
Enjoy the experience, but use money as the true measurement of how well you are doing, don't be obsessed by it.
Know and understand your product and ensure that you price your products for maximum value. Value is not just for your customers, but for your business. If your customers don't pay what is deserved by your product, they won't value your product. I will not sell a product for less than it's worth because I know the customer won't value and get the most out of it.
Your for maximum profits.
Peter Townshend
PS. Get your free 30 Day Course on how to create the business lifestyle you deserve at http://www.bizfreedomblueprint.com
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