My inspiration for "pouring cash" comes from Nana's 94th birthday dinner at St.Anna with Bob and Mary, Chuck and Shelby and of course, the guest of honor. I hope when I'm 94 that I crave steak and cake. It was very enjoyable.
I've talked about filling your cask with cash. The goal is to maximize the amount of cash poured into the cask and manage spending by controlling the spigot at the bottom. There are a lot of ways to pour cash into your cask and you do it every day. Debs manages a Wisconsin Vision Outlet and makes big bucks, Kelly practices chiropractic for a Health Organization and her own business, Chris makes tons of money telling other people what to do and Margaret is highly paid to develop computer solutions. And for Paul the journey is just beginning.
The dream of starting your own business should conjure up visions of sugar plums in you heads. Steven Jobs at Apple, Bill Gates at Microsoft, and Michael Dell of Dell Computers all followed the dream and are rich beyond comprehension. Money pours into their cask. Hell they probably can't find enough casks. There is probably money all over the floor. I don't think they worry about spigot expense control.
Mary Steger got me thinking with her comment that "anyone who starts their own business ought to have their head examined". She is aware of all the difficulties facing a business and how fragile it really is. However there is the other side. For someone who believes in an idea, is willing to take financial risk and will work tirelessly to make a business succeed, there can be a huge payoff. It is the American way.
87% of all businesses employ under 50 people. They are small. George and Lyla started a business that is headed for third generation ownership. My Grampa Chalk and Myrna bought the City Club in 1922 and it remained in the family for over 60 years. Kelly started her own Chiropractic practice. David Steger has started his own computer related business (he didn't listen to his mom). Actually your mom started her Shaklee Distributorship but money was secondary to the benefits of the products.
"Pouring cash" comes from the multiple ways your own business can pay off. You usually can draw a salary. Assuming you are profitable, you can pull money out at the end of the year as a dividend or partnership distribution. As the business grows, more cash can follow growth and you can drive a company Porsche (there is my dream car again). The ultimate payoff can come from selling your business at middle age for an obscene profit, wiring the proceeds to an account in the Cayman Islands and then sucking Mint Juleps for the rest of your life on a south sea island.
The entrepreneurial mind doesn't see roadblocks. Only opportunity. They don't know 9 out 10 new business ventures fail. They don't see the problem in raising money to start a venture. They will find cash some-place. There is a passion to build something. They usually are not familiar with the word "no".
So if there is passion within you to build something, call Bob and Mary for fiancial support. My cask doesn't have venture capital in it to chase some wild ass venture.
Love
Dad (Just Chas.)
Oh my god! Did my dad just use the phrase "wild ass"?!
That's funny.
And I'm a huge supporter of following your dreams (*cough* ubershique *cough*), but you know, mama still has to bring home the bread every night ;).