# The ONE Money Rule That Kept My Business Small for 6 Years

Channel: Dan Martell Daily
Video: https://www.youtube.com/watch?v=eZNd-oGGSBA
Duration: 3 min
Language: English
Words: 705
Transcript page: https://viewrankai.com/tools/youtube-transcript/eZNd-oGGSBA

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[0:00] My dad My dad used to say that it's it's fascinating. He used to always say to me that um it's not what you make, it's what you spend. Okay, which is good advice. On the surface, it's not what you make, it's what you spend. So, you could make a million dollars a year, but if you spend a million and one, then you're no worse off than somebody that didn't make any

[0:19] money. But, what I took that and internalized it for my 20s. In my 20s for when I started in business was every dollar I was an expense was I was taking it away from me. So, think about the concept of buying back your time. My belief if I spent a dollar, then I was taking away profit. So, I tried to do as much as I could

[0:40] to save. Save. Dude, I was like I was making like you know, hundreds of thousands a year, and instead of investing in the business, I was constraining it. I was choking it from its potential because I wouldn't I wouldn't let a dollar go if it wasn't absolutely necessary. And the challenge if you understand business is that it requires an investment. And what happens if you make good investments,

[1:04] you get a return on that investment. And if you get really good in business, then the more investments you make, like when I ask somebody like, "How much do you pay for a customer?" Well, I pay $10 a customer. Well, how much is that customer worth you? $100. How quick do you get that $100? Within the first month. How many $10 bills you want to trade for a $100 bill? [laughter]

[1:21] Right. So, what's your marketing budget? Mhm. But, originally they'll say, "Well, my budget's 10,000 a month." I go, "No, it's unlimited to the degree that you get that $100 bill for every 10 that you put in." It took me 6 years of being in business and and and choking the potential of the business till I flipped the mindset of, "Oh, no, it's not what you make, it's not what you keep, it's literally what's the return on the growth." Cuz the real value in a lot of businesses, yes, it's the profit, but even more importantly, it's what's the business worth to

[1:51] somebody else. Because to the degree that and this is what I talk about in the book, to the degree that I can build a business that doesn't need me to grow and that it has predictable revenue, predictable profits, those two equations equals how much it's worth to somebody else. And for And that's what happened me at 28 when my company got bought, my first company I sold, that was when the world opened up for me. Even before that. That one That was the one that really set me up to then do

[2:17] a bunch of other stuff. But that's when I learned that yes, you can't be a not profitable, but at the same time don't constrain the business from its potential growth because if you can build a business that doesn't require you to run and is predictable profit, then it's going to be incredibly valuable to somebody else. Real quick, you've made it to the end. Let me tell you what I know about you. You're not somebody that's looking to do shelf help. You're not somebody just doom scrolling on social media. You're here cuz you want to build, build a real business and you're sick and tired of not getting the real insights to grow

[2:47] inside your business. So I want to help you avoid all the pain trying to figure this out the hard way like I did it. That's why I put together everything I've ever learned into the Scale Workbook. It's the internal document that I use with every founder I work with that turns a chaotic business into a money-making machine. And teaching you

[3:03] all of this without burning more hours. It's totally free. The link is in the description or you can just scan the QR code on the screen cuz I'm here to help you build your empire.

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