So what do tech geeks have to do with hard cold cash? Well, aside from their skill in making money from their talents... I find their thought processes intriguing and those set me off on my own mental wanderings. And today, those were about money.
I was reading a post and ran across a section of it that had to do with Accessibility and Security. While it was actually about computing structures and software the underlying concept can be applied in many ways and places. Marketing messaging is one that comes to mind. The basic concept is:
When software — or idea-ware for that matter — fails to be accessible to anyone for any reason, it is the fault of the software or of the messaging of the idea. It is an Accessibility failure. ~ Steve Yegge
Steve also notes that Security is the Arch-Nemesis of Accessibility. That set my brain to spinning and translating that into the context of money. It's a really interesting dynamic in that context. Access vs Security. Two things came to mind right off:
- Seeking security limits not only your access to cash but your ability to make more. When you're focused on security, you miss out on existing opportunities to make money.
- If you don't have access to as much money as you want, the failure is in the words or the actions. In other words, the issue is in the messaging of content you've programed your mind with or the way you express it in your financial decision making. Change your frame of reference and you can have access to all the money you'll ever want.
For example, the more conservative you are in your decision making, the less risk you are willing to take on. While this can certainly be a good thing, you can also go overboard. Often people who want to protect their money get over zealous and put it in a CD. Frequently historically and certainly right now, that's a waste of money. At the absolute minimum that's an expensive opportunity cost and many times inflation is higher than the interest rate your getting paid by the bank. So you're essentially losing money because over time the increase in prices will be higher than the money you earned in interest.
Another example is a professor I had when I was working on my MBA. He was a CPA in Seattle and had the opportunity to buy Microsoft when it first went public. He did his analysis and determined what he thought was a fair price for the stock. He and a bunch of accountant buddies had an investment pool and Microsoft was a stock they decided to purchase. Then Microsoft raised the price they were planning to start their stock offering with. I don't remember the numbers but it was something like a change from $15 to $25 per share. My professor's analysis showed the stock valued at $18, so he convinced he's buddies not to invest. That bit of conservative analysis cost all of them the opportunity to be millionaires many times over.
I'm not saying conservative is wrong or that security is useless (although I'm not a big believer in it myself). What I am asking you to do is think about where security is factoring into your money decision making and whether it's getting you what you want or not.
On the second point, it seems obvious. Our thoughts and actions clearly determine our results. The big challenge though is in remembering to take a step back and change the process when we dislike the results. I know I'm not happy about the amount of money I'm making right now.
On one hand, that's a matter of perspective. To someone in a third world country, I'm rich beyond imagining. To someone else I'm broke, to another I'm doing ok. I encourage you to remember that perspective when you're being hard on yourself. Try valuing you for the unique individual you are separate from your bank account and let your generally happiness flow from there.
Then, when you're feeling good, you'll be more prepared to tackle number two. What isn't working? What can you change about it? What is working? Are you repeating those things that work? What can you do to improve upon them? For me right now, I'm very much about focusing on what does work for me. Part of that is contemplation. So I'll be spending more time with number two myself and looking at my thought and actions and how I can amplify what's working.
I'm inviting you to do the same.
Here's to your Success!
P.S. Steve Yegge, is a high profile Google engineer who accidentally posted a long rant about what he sees as the problem with Google on the net last night. Having worked at Amzaon and using that for comparison, alot of his post is actually doing more Amazon head honco bashing than Google bashing. Here's the link to his whole commentary if you're interested: Steve Yegge on Google+, Amazon and Platforms
And if you're interest but don't want to read the whole long rant, here's the article that got me started: SiliconFilter.com