Nicolas Cole explains why the same business decision looks different depending on your financial situation. A person with no cash might take a $2,500-per-month client; someone with $300 million can afford to turn it down. He offers a framework to match decisions to your actual circumstances.
If you're sitting there and you're like, I'm 3 months behind on my rent, I can't afford groceries, and I got to go pay the bill of the preschool that my kid's at, and I like need money tomorrow. If that is the context of your life, then what do you think the answer is to the question, should I take on a client that's only paying me $2,500 a month? The answer is probably just take the $2,500 a month client and then like move on and keep improving skills. But if you go to the other extreme and the context of your life is, Cole, I just won the Powerball and I just got handed $300 million. Do you Do you think that I should say yes to a low-paying client when I really want to only work with high-paying clients? It's like you have $300 million. You don't need to take on the low-paying client. You know what I mean? You have to realize that these questions are so context dependent on what is your personal life circumstance. My job is to go, here's the decision matrix, here's how to think about these decisions. But everyone's going to make different decisions because everyone has different lives and everyone's contexts are different.
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