Stop Stressing About The Money
Oh my gosh, everyone I meet with these days is trying to make the most amount of money in the least amount of time. It seems like the majority is looking for a loan, an investor… a quick cash cow, if you will.
Don’t get me wrong, a quick dump of money would be nice – but then I would be in debt. I think staying out of debt is a very valuable thing that many overlook. I believe this is why my granddad constantly reminded me…
“If you don’t spend a lot, you don’t have to make a lot.”
The more I ruminate on this advice, the more it makes sense. This is why I choose to operate a cash company. No loans, no shareholders, and no being slave to the lender.
How Did A Creative Agency Start Debt Free?
- Save Up. Before I opened our doors, I saved up $10,000. It took me a couple of years, but after some advice from wise counsel, I decided if worse came to worse, my wife and I could make it for 6 month without any income on that amount. Take a moment and calculate your living expenses, then cut out anything not absolutely necessary (cable, video games, landline, etc.). I cut it – and haven’t gone back.
- Have Patience. I think everyone likes the romance of an overnight success story, but I looked at the jobs coming in and the expenses going out and came to the conclusion that living in the here and now is my lifestyle, and I like it.
- Have Focus. I chose a goal timeline for myself. If I couldn’t accomplish an idea or goal in 6 months, I would forget about it and focus on something else. Narrowing my focus like that forced me to not get distracted by every idea that popped into my mind.
Why Did Skillful Antics Choose This Business Model?
- Limited Stress. I’m not going to lie to you – running your own company is very stressful. It’s tricky to weigh the scales properly between income and clients, employees, family, bills, and the government. If running the slow race to my view of success meant less stress, that was the race I wanted to be in… not the American “cutthroat” race to get ahead.
- Value Life Lessons. My father always said that “If you skip the steps of the ladder, you’re bound to fall off.” I think taking a shortcut to get ahead isn’t necessarily a bad thing (win the lotto, get an investor, inherit wealth, etc.) but for me, I wanted to experience the everyday things and figure out creative solutions.
- Better End Product. Believe it or not, knowing every day that if I didn’t go to work and deliver a superior product, my family wouldn’t eat is a great motivator to deliver good work. Having an entitled attitude isn’t something that I learned growing up; therefore, I’m so thankful to every client who trusts us with their business, and working hard to go beyond their expectations has become the norm at Skillful Antics.
Whether you have decided to get a loan or start debt free, I completely understand the pros and cons of both. I’ve experienced both and understand the necessities of one over the other. But for those of us who are considering the options, how about adding a comment below and help someone starting out!
Read the overview article, the switch: Freelance to Full Time.