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How To Get Good At Making Money: 6 Life Lessons From A Self-Made Entrepreneur

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Six Valuable Lessons to Get Good at Making Money

There are differences between making money and starting a business.  You can learn to start a business from taking courses and reading books.  You learn to make money from role models and going out and getting real world experience.   The foundation to making money is selling.  You are always selling from the moment you wake up to the moment you go to sleep.  You are marketing and selling yourself to get a new job, to get a date with that cute girl, to sale your clients on a new product, or to sell your boss on a project you want to start that will get you a promotion.

There is a great article over on Inc. that has six lessons learned from a self-made entrepreneur from when he started selling shoes 14 to starting his successful software company.

This is one of his insights.

One thing I do know is that making money is not the same as starting a business. For entrepreneurs, this is an important thing to understand. Most of us identify with the products we create or services we provide. I make software. He is a headhunter. She builds computer networks. But the fact is, all of us must master one skill that supersedes the others: making money. You can be the most creative software designer in the world. But if you don’t know how to make money, you’re never going to have much of a business or a whole lot of autonomy.

This is not about getting rich (though there’s certainly nothing wrong with that). Instead, for me, making money is about freedom. When you owe people money, they own you—or, at least, they own your schedule. As long as you remain profitable, the timeline is yours to create.

I’ve had the chance to consult for two start up companies and the biggest takeaway I have from these experiences is that you to have passion and believe in what you are doing.  The founders of the two start-ups are extremely passionate about their products vs someone who works for accompany just to earn a living.  Being passionate about the company you work for or the company you are trying to start will drive you to innovate, succeed, and work harder.

Read about the required six skill sets you need to start making money effectively today.  Even if  you start out with number six buying and reselling items  on Craigslist or eBay you will be headed in the right direction to start earning more money.

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About Shaun Archer Tatum Shaun works in corporate finance in New York City. He has done financial consulting for several start-ups and has worked at several Fortune 500 companies. He has contributed several finance/investing articles on Seeking Alpha which have been published on Yahoo! Finance.

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