Mike Brown argues that entrepreneurs often spend money as fast as they make it, treating income as something to deploy immediately rather than protect. The real challenge isn't earning, he says, but building the discipline to keep what you've built.
Many of us are very good at making money, but keeping money is a completely different story. So we start off as accumulators of wealth. As we're starting off in our entrepreneurial journey, we get very used to having our backs against the wall and, you know, not knowing if we're gonna make payroll this month. And we get really comfortable being uncomfortable. And then what happens is that bleeds over into our personal life. As soon as money comes in, we can— we deploy our capital as soon as our bank account starts to fill up. All of these behaviors, they're part of the entrepreneurial journey, but they they're not necessarily the best decisions for our long-term self. And so it's really shifting our mindset from being an accumulator of wealth to a defender of wealth.
