menu

Seth Godin: Spending Money To (Make / Lose) Money

Seth Godin: Spending Money To (Make / Lose) Money
Advertising

What's the best way to use resources when growing your business?

Seth Godin
  • 9 june 2010

When I was a struggling freelancer, I hated to spend money. I hired myself to do everything possible, because money I spent was money I didn’t get to keep.

When I was hiring researchers to find great leads for my first internet company, I loved to spend money. Every penny we spent made us four pennies, so I spent as many pennies as I possibly could.

And there’s the key distinction between two approaches to money.

If you build a business that processes inputs (leads, articles, code, attention, visitors, employees) and produces outputs that work, you want as many as you can possibly find. And if you view the world as a small pie with a finite number of pieces, better not spend on anything you can possibly avoid.

The trick is this: if your business isn’t working as you hope, perhaps it’s because you need to flip your approach.

Is it an expense or an asset? Is it a tax or an opportunity? Is it an investment or a risk?

It turns out that people have a very difficult time making the leap. Big company executives leave their jobs to start little companies but keep spending like money doesn’t matter. Freelancers skimp on spending that would certainly pay off, and quickly.

This simple decision needs to be an intentional one.

Seth Godin is the author of twelve books that have been bestsellers around the world and changed the way people think about marketing, change and work. His latest book Linchpin: Are You Indispensable?

will shake up the way you think about what you do all day (and how you do it). Republished with kind permission.

image by DavidDMuir

Advertising
Trending

Brand Engagement At The Gates Of The World's Largest Open-Air Gallery

Culture
Asia Today

Safe Drivers Rewarded In Japan With Free Coffee

Driving Barista is a new app that encourages Japanese motorists to put their phones down as they drive

Arts & Culture Today

Michael Kors Has Designed Their Own Instant Camera

In a partnership with Fuji, the limited edition Instax Mini 70 comes in an exclusive metallic gold color

Trending

Get PSFK's Related Report: Future of Work

See All
Health Today

Manage Your Emotional Health Through Your Phone

Pharmaceutical company Pfizer has created a new iOS app meant to help patients track mental progress and set goals

Food Today

Delete Food Pics Off Of Instagram To Feed The Hungry

Land O'Lakes and Feeding America are donating meals for every picture of a meal taken off of the social platform

Related Expert

Eric Lima

Open Source Professor

Design & Architecture Today

This Shape-Shifting Pod Could Be The Future Of The Cubicle

MIT and Google have designed a new form of work enclosure meant to offer privacy in open-office layouts

Advertising Today

Billboard Spies On People As They Walk By

To promote the movie "Snowden," the advertisement broadcasts information on passersby without their knowledge

Fashion Today

Anti-Pollution Scarf Helps Cyclists Ride Through Cities

An innovative system filters pollutants and its accompanying app monitors quality of the air

PSFK LABS REPORT

Future Of Automotive
Scenarios Driving The Digital Transformation Of An Industry
NEW

PSFK Op-Ed Today

Energy Expert: How American Consumers Are Taking Control Of Their Power Use

Jennifer Tuohy, green tech expert at The Home Depot, discusses green home technologies and developments for renewable technologies in US homes

PSFK Labs Today

New Mentorship Ecosystems Benefit All Levels Of An Organization

PSFK’s Future of Work report explores how technology is being leveraged to support cross-team communication

Automotive Today

Volvo’s Self-Driving Trucks Will Soon Be Put To Work In An Underground Mine

The fully-automated vehicles are part of a development project to help improve safety for workers

Work Today

Editorial Roundtable: How Will Companies Staff The Workplace Of The Future?

Managed By Q, Soma, Workbar, Primary, AltSchool and thinkPARALLAX examine the ways that a people-first workplace might disrupt the job hiring process

Arts & Culture Today

Mischievous Drone Will Drop Paint-Filled Balloons On Targets Of Your Choosing

A German photography team developed the flying device to accurately deliver a payload wherever needed

Retail Today

Snapchat Reveals A Striking Pair Of Video-Recording Sunglasses

Spectacles make memories from your perspective and transfer them to the app

PSFK LABS REPORT

Future Of Work
Cultivating The Next Generation Of Leaders
NEW

Financial Services Today

This Peer-To-Peer Insurance Company Is Powered By Bots

Lemonade is a new product designed to lighten the paperwork and provide instant, helpful service when needed

Design Today

Concept Artists And Scientists Form Partnership To Visualize The Future

The collaboration hopes to liberate ideas and innovations trapped in notebooks

Automotive Today

Uber Could Be Bringing Vertical Takeoff Transport To Your City

The ridesharing app is looking into the development of nimble aircraft for urban environments

No search results found.