Ep. 211 – Don’t Chase Money
5 Minute Rants by THE a.m.
A podcast predicated on the journey of business and life.
Ep. 211 – Don’t Chase Money
Making money your sole purpose and goal in life will lead to customer neglect and affect long-term success.
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Making money your sole purpose and goal in life will lead to customer neglect and affect long-term success. […]
January 21, 2024
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Episode Transcript
What’s up? What’s up? What’s up, everybody? Welcome back to THE a.m guys, welcome back to five minute rants. I’m your host, Michael Abernathy. And welcome back to the show predicated on the journey of life and business. Hey, guys, would you do me a favor and partner with me to get the word out? And if you know somebody that would benefit from listening to this, would you share this with them, and help spread the word? I appreciate it.
So guys, today, I wanted to talk about the phrase, don’t chase money. And if you listen to just a lot of people talk over the years. And excuse me not talking about this. If you listen to people who’ve talked a lot on YouTube about different things, starting businesses, a lot of them have said, Don’t chase money, don’t chase money. And over the years, when Andrew and I first started out, we came to the realization that we really misunderstood that statement that actually hurt us because we did not understand and have a deeper understanding of What that statement meant. Okay, because when we heard, don’t chase money, don’t make it about the money. And we heard that we stopped focusing on real business metrics that mattered like cash flow, profitability, revenue, and things like that we didn’t make those a priority. And there was a lot of positives that came out of that. But there are also a lot of problems that came from that. And it took us a little while to actually realize What people meant by this statement.
And What this statement really means is this. Do not make money, your purpose in life. When you make money, your purpose, you lose in the long term, because money is heartless, and it is simply a tool, you’ll forget about people, you’ll forget about serving and honor and the principles to love others as yourself. And that’s What that really means. Because when you’re chasing money, you forget about your customer. Right? You forget about your customer, you just start making deals and negotiating to where you went 100%, the other side loses. And you talk about screwing yourself over in the long term. Because now nobody wants to do business with you. You forget that the real heart of winning is everybody walks away from that table positive, everybody walks away of that table with value and What they wanted after that deal and negotiation is done.
And when you when you chase money, it really means that you’ve lost your greater good and your purpose in life. And you’re only going to drive your life forward predicated on making money. And that’s heartless, and that’s ruthless. And you can see the outcome of that in a lot of business. When we first heard that we did not understand that. That’s What that statement meant. And this is my interpretation, that statement now, by the way, and we did not understand that that’s What it meant. We thought like, Oh, don’t chase the money, we don’t need to focus on money. We don’t need to think about it as much. It’s not important. We don’t need to make it a priority. And it actually wasn’t that it was very much like hey, do not focus doesn’t mean not look at it. Right? Do not focus means and don’t chase and excuse me, don’t chase the money doesn’t mean don’t look at it, don’t focus on it. Don’t chase the money actually means don’t make it your purpose and goal in life.
Because listen, money is important. It is a core piece of our society. And as people in general across everywhere value, right money no matter What form whether it is goat, sheep, cattle, right land, gold, silver, paper, stocks, bonds, you know, whatever it is, whatever the form of money is, it was that’s a core an integral piece of society, and always has been and will always be around. But the problem is, when that becomes your purpose, you forget about everything else. And so if you’re just starting out, and you hear the phrase, don’t chase money, listen, it really means don’t make money, your purpose in life, right? You should drive towards profitability, you should drive towards cashflow. But the best way to do that is actually to serve and love your customers, as yourself. And the best way to do that is to really have deals on the table where everybody walks away and wins. Right?
It’s not true that only one party can win. And it’s a zero sum game when it comes to negotiating when it comes to deals or when it comes to selling things. It’s really about both parties winning. And if you look at that, if both parties really get What they want, you look at the long term value of everything. I think Chick fil A, honestly, is a great model and a great example of this because their customers get What they want and walk away with the value that they’re looking for. That’s outside the food, right? They want that and they walk away with it and you look at the profitability of Chick fil A stores and then as a company as whole compared to somebody like Subway, McDonald’s, it’s mind blowing, but that’s the whole don’t chase money. That’s the whole let me focus on money because it’s important. I need to look at it. But my purpose and my heart has a much deeper meaning into it and there’s a much bigger thing that I’m serving outside myself called a greater good.
Anyways guys, I’m going on time so I’ll catch you later peace