For Entrepreneurs, Nothing Fails Like Excess

yachtWe caught an interesting piece on CBS Sunday Morning a few weeks ago. Not surprisingly, a lot of yacht owners have given up the boat as a result of the Great Recession.

A boat repo man said most of the yachts he recovers are from people “who weren’t as rich as they thought.”

They should have read Tom Stanley’s latest book, Stop Acting Rich … and Start Living Like a Real Millionaire. Like his prior books, he demonstrates that most truly wealthy people don’t live like they’re rich.

BIGG success is life on your own terms. If material possessions are part of your definition, more power to you. However, a lot of people end up much poorer trying to feel richer than they are.

As an entrepreneur, your standard of living can also impact your business. You won’t have as much flexibility if you put an undue burden on your business finances by buying toys you don’t need.

You may miss out on opportunities. It may create unneeded stress. It can even lead to bankruptcy.

There’s nothing inherently wrong with enjoying the “good life.” You should enjoy the “fruits of your labor.”

Just remember that nothing fails like excess.

Image in this post by wilksailor

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