"Capital is that part of wealth which is devoted to obtaining further wealth.
- Alfred Marshall
Yours truly was in the newspaper this weekend for launching an Entrepreneur Group in my south Louisiana community (see: http://www.theadvertiser.com/article/20110828/BUSINESS/108280317/Here-s-self-help-self-starters?odyssey=mod| newswell|text|FRONTPAGE|p) Pretty cool eh?
I found the portion noting capital as the key to success the most interesting. Partly because Mr. Guidry is not a part of our group, in addition, the fact that the three of us launching this Entrepreneur group have never had a cash injection.
Why do people feel capital is so crucial to the success of a small business? From where does this belief that a bank loan will constitute success derive? When will business owners realize that it is NOT money that drives your success...it is your people!?
2 DEGREE SUCCESS STEP: As a business owner, if you could choose between having 100,000 dollars or 100,000 clients, which would you choose? I would hope you would choose the clients. Why not the money if "capital is the key?"
Because MONEY is the lowest concern for a successful business. Money is the result of a good service or product delivery. Money is what is given to you from your clients for making their life a little bit better.
So why do so many people suggest capital is the key? Because they believe, "If you build it, they will come," rather than, if you have them already, build whatever the hell they want and will pay for.
I don't know about you, but they can keep their cash...I will take the clients instead!
Cheers,
Zach
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