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Is it OK to Want to Make Money?

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Re: Is it OK to Want to Make Money?

#41
post #34

It always grates me when people with lot's of money tell people who don't have lot's of money, that it's not about the money. Money my not equal happiness, but a lack of money certainly equals stress and misery. And while people are being stressed and miserable, they're not at their best. I think people would find it hard to be so nonchalant about the importance of money and the benefits it can bring if they were wor…

I think what a lot of people who say that mean by it is that to be successful, your primary focus doesn't have to be about making money. For many successful, people becoming wealthy is a (usually intentional) side effect of building a good business. Conversely, people who primarily focus on making as much money as possible are susceptible to making mistakes such as scrimping on necessary expenses, or sacrificing rela…

I think what a lot of people who say that mean by it is that to be successful, your primary focus doesn't have to be about making money.

I agree - if all you care about is money, you won't become successful. You'll probably become rich, though.

For many successful, people becoming wealthy is a (usually intentional) side effect of building a good business.

But a good business is one that makes money (apart from the instagrams and other lottery tickets of this world). So focusing on making money is necessary to them too. If you do a great job for your customers but you don't charge them, and so you run out of money and go bankrupt - well, you haven't built a great business at all.

Conversely, people who primarily focus on making as much money as possible are susceptible to making mistakes such as scrimping on necessary expenses, or sacrificing relationships with valuable business partners.

I think you're confusing short-sighted focus with "focus". Warren Buffet has primarily focused on making as much money as possible (his chosen career is literally to make money from investment) and he's not skimped on relationships or other necessities. On the contrary, I think if you're smart and you're focused on making money in both the short and long term, you probably will make money.

On the other hand, if you assume it will happen some day later, you probably won't make money.

Re: Is it OK to Want to Make Money?

#42

Money making is fine, but wanting billions is kind of weird imho. The goal of 'being the biggest search engine' is great, being a search engine and having the goal to make 10 billion $/month is not. Again, in my opinion. He mentions 'feed the family'; no matter what your 'family' is here, with honest hard work you can do that without having too much money focus in your company. But yes, the bottom line needs to be so…

But yes, the bottom line needs to be solid and you are insane if you don't watch that like a hawk.

Looking at the average startup, it seems like insanity is the rule rather than the exception...

Re: Is it OK to Want to Make Money?

#43
Perhaps it's wrong place to ask, but ...

Does anyone have an idea how to get this "hunger for money"?

I get no pleasure from earning money and almost no pleasure from things I can buy. I find it hard to motivate myself to get rich despite the fact that I consciously know that it could make my life bit easier.

Re: Is it OK to Want to Make Money?

#44

Perhaps it's wrong place to ask, but ... Does anyone have an idea how to get this "hunger for money"? I get no pleasure from earning money and almost no pleasure from things I can buy. I find it hard to motivate myself to get rich despite the fact that I consciously know that it could make my life bit easier.

Think about the specifics. If more money really would make your life easier, bear the details of this in mind as you're earning it - even to the level of thinking "this hour got me the xyz", if you like.

Re: Is it OK to Want to Make Money?

#45
post #41
post #34

Earlier quoted context omitted.

I think what a lot of people who say that mean by it is that to be successful, your primary focus doesn't have to be about making money. For many successful, people becoming wealthy is a (usually intentional) side effect of building a good business. Conversely, people who primarily focus on making as much money as possible are susceptible to making mistakes such as scrimping on necessary expenses, or sacrificing rela…

I think what a lot of people who say that mean by it is that to be successful, your primary focus doesn't have to be about making money. I agree - if all you care about is money, you won't become successful. You'll probably become rich, though. For many successful, people becoming wealthy is a (usually intentional) side effect of building a good business. But a good business is one that makes money (apart from the in…

On the business angle, does building a modestly profitable lifestyle business qualify? That's "about the money" in some sense, because you need to make enough money to keep the business open, with enough profits to support you. But it's about the money in a different sense than going for a multimillion-dollar exit is.

Re: Is it OK to Want to Make Money?

#46

Perhaps it's wrong place to ask, but ... Does anyone have an idea how to get this "hunger for money"? I get no pleasure from earning money and almost no pleasure from things I can buy. I find it hard to motivate myself to get rich despite the fact that I consciously know that it could make my life bit easier.

You're not earning money for material possesions. That's a never ending unfulfilling pursuit. Your earning money to give yourself a secure future, to be able to spend more time with people you enjoy being around, to be free to go wherever you want, do anything you want at any time without money being an issue. You're earning money for freedom and independence. Do you have the hunger now?

Re: Is it OK to Want to Make Money?

#47

Perhaps it's wrong place to ask, but ... Does anyone have an idea how to get this "hunger for money"? I get no pleasure from earning money and almost no pleasure from things I can buy. I find it hard to motivate myself to get rich despite the fact that I consciously know that it could make my life bit easier.

For me, I care far less about the money than the freedom it buys me. I like solving problems, and learning new things, and ending up with something tangible that I can point to and say "I made that."

In a 'job', I don't necessarily have the freedom I want to play around all day. If a new language comes out and I want to play with it, but can't because I'm coding a login form for 'the employer', that sucks.

If I were financially independent, I could do what I wanted, more or less. I also hate doing dishes, and laundry. But I also really hate it when there aren't any clean dishes or clean laundry. Money buys me clean dishes and clean laundry.

Beyond that, I'll freely admit that I never had a huge desire for more money than I needed to live the life I wanted until I entered the wonderful realm of parenthood. Now I'm dumping tons of money into her education, into savings. She's going to need (hopefully) college, a new car, the ability to fail without too much pressure that the world is going to end. I'd also really like to leave an inheritance. I don't need my daughter to grow up like Paris Hilton, but I don't want her to grow up in poverty either.

While it's true that money doesn't buy happiness, lack of money is a pretty direct road into depression for many. Having money that you don't have anything to do with is just responsible, in the same way you have dental, medical and life insurance. The same way you buckle your seat belt.

Re: Is it OK to Want to Make Money?

#48
post #40
post #32

Earlier quoted context omitted.

I guess it's a difference in perspectives, because in your lists I definitely see things that help society: - Government provides services. Around here, it's healthcare, schools, universities, infrastructure, defense, a justice system, social services, plain governing, etc. - The weapons industry might be an ethical negative, but they provide benefit to society in terms of basic research and R&D (not saying other thi…

"The weapons industry might be an ethical negative, but they provide benefit to society in terms of basic research and R&D (not saying other things couldn't replace this -- I'm saying right now they provide this value)" Actually this is another example of a rich person talking about how it's not about the money. You think weapons are intrinsically unethical, go and talk to the hundreds of millions of unarmed "ethnica…

> You think weapons are intrinsically unethical, go and talk to the hundreds of millions of unarmed "ethnically cleansed" peoples in the 20th century.

I find it hard to say any object is "intrinsically" ethical or unethical, but the arms industry certainly has a strongly culpable role in the outcome you're talking about. The genocidaires of the 20th century were massively more efficient than those of any previous century because they did killing on an industrial scale, with a lot of R&D behind it. And a lot of industrialists made a lot of money enabling it, sometimes working in close collaboration with the people doing the ethnic cleansing.

Re: Is it OK to Want to Make Money?

#49

Perhaps it's wrong place to ask, but ... Does anyone have an idea how to get this "hunger for money"? I get no pleasure from earning money and almost no pleasure from things I can buy. I find it hard to motivate myself to get rich despite the fact that I consciously know that it could make my life bit easier.

Someone (who was it? PG or DHH or someone) referred to this 'initial money' as 'fuck you money', i.e. enough to provide for your family and give you the freedom to then work on what you want.

Money is important, when you don't have 'enough' you typically have to work on fulfilling other people's dreams and you're not truly free.

But this is just one man's opinion, and that's all it is. If you get pleasure from other things, then kudos to you! Not everybody can be mega rich, and if you're content doing what you're doing without millions I think you're doing swell as it is.

Re: Is it OK to Want to Make Money?

#50
post #21

2 quick stories: 1. My fraternity brother's father (a successful doctor) took the two of us out to dinner. He asked what I was studying. I told him computers. He said, "Good. As you know, I want John to study medicine. But if he didn't want to, I would want him to pursue computers. But definitely not law. I don't want my son spending the rest of his life chasing dollars." Strange remark. But somehow, it really left a…

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