3 Minute Lesson: Avoid Poor Spending Habits in Business | Li Ka-Shing

Li Ka-Shing warns entrepreneurs not to spend big before proving they can make money. He cites two mistakes: buying expensive YouTube equipment before testing the channel, and ordering bulk t-shirts that don't sell. Validate your idea cheaply first.
Chapters
Good morning, Believe Nation! Today's message is that money should be spent but never squandered. Over to you, Lee Kashing. 我也有很多钱,很快打一门 poisai 打一门 poisai,很快打一门 poisai,很快打一门 poisai,很快打一门 poisai。 I think a lot of entrepreneurs squander money. fan of spending money until I'm making money. And a lot of entrepreneurs, you do the exact opposite. You start spending tons of money before you're making anything. And I'm all about putting your energy, your hustle, your time, your drive into something. But don't spend anything until you are making money. So some of you who want to start a YouTube channel, you go and you buy a camera and a tripod and lighting and a backdrop and a microphone and a tripod and all the things that you need to do to start a YouTube channel, and then you only make one video, you look at it, you hate it, and decide, "Ah, this YouTube thing isn't for me." Some of you will want to start a t-shirt company, so you go out and you spend a ton of money buying t-shirts, and because you need to have order 5,000 to get the quantity discounts. You buy 5,000 and you end up filling up your garage, your basement, your apartment, your condo, or your parents' house, and you're stuck with 4,995 t-shirts that you just can't sell. So as of today, I want you to stop squandering money. Prove to yourself first that you can make money doing this before you start spending it on something. So my question of the day, today I want to get a little deeper. Today I want to look at a limiting belief of yours. I want you to write in the comments below what you feel like you can't get started on because you haven't invested in this. I can't launch my business because I don't have enough money to do this. What is this? And then I want Believe Nation to reply to each other. I want you to jump in there, help each other out to think about What's a lower-cost, free way to get started to help that person solve that problem? Leave it in the comments below. Thank you so much for watching. Have an amazing day. Continue to believe, and I'll see you again tomorrow morning for another shot of Enspresso. It's windy, and I don't want the money to fly away.
I wake up every morning. Enspresso keep me going.
More from Evan

How the Biggest Mistake in History Created A Trillion-Dollar Empire | Sergey Brin

9 Machiavelli Principles That Force People To Respect You | Machiavellian Philosophy

The First 10 Words That Instantly Ruin A Sales Conversation | Vanessa Van Edwards

The Top 1% Mindset Behind The First $5 Trillion Company | Jensen Huang (Nvidia)






