Start with the water. Build the canal to move the water around.
Building a canal on dry land? You'll have an empty, dry canal.
Business is similar.
Start by finding a stream of money. Then build supports around it to make the money keep flowing.
Don't start by building supports around a desert. Nothing will flow.
Find the water first. The canals don't create the water.
Very nice. Reminds me of this piece on Ribbon Farm, in the best way.
I like this -- in a lot of ways, it goes against the "Do what you love" mantra as a way of making money.
Doing what you love usually means an over-crowded marketplace.
I was always pretty frugal with money - I'd spend on good tools, lessons/training/classes for myself (including lots on books), on having unique or developing experiences, and on showing appreciation for people who make me successful. One of my good friends helped me finish an important business deal once that made me a lot of money, and I bought him a plane ticket to Japan to say thanks.
But I never liked spending money on comfort or luxury that doesn't serve a higher purpose. I eat very simply, I sleep simply, I don't need or want much.
Lately though, I've been thinking about how this conflicts with another goal I have - constantly improving my environment. I want every room to better because I was there. And not a little better - a lot better.
I was always a decent tipper, I'd go out of my way to tip great service in particular. But I'm thinking lately I should be an exceptional tipper, even at businesses where I don't want a long term relationship with the establishment.
Not sure why I'm starting to think this way, I'm just starting to think it's correct. I was going through Aristotle's Nicomachean Ethics - in particular, there's sections on liberality and magnificence.
Several years ago I was sitting with a bunch of friends at a restaurant. Dinner was winding down and we were all stuffed.
My friend next to me asked me how I made so much money. I always had the money for everything, she said, and she was always struggling.
The bill came and everyone went down the list adding up their stuff. Before tax and tip mine was around $7. Hers was $30, more than four times what mine was.