Making Wallet-Decisions

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Information about Making Wallet-Decisions
Business & Mgmt

Published on February 22, 2014

Author: PerfectMarketingEquation



According to an article that I read a few days ago in Entrepreneurial Magazine over 543,000 businesses start up each month (Yes, you read that right, month not year.), the alarming thing is the majority of these businesses will fail. Most businesses fail for lack of capitalization, I think everyone knows that. However, tons of businesses fail for making wallet-decisions. When you’re unable to adapt to a strategic decision making process, it’s only a matter of time before your business fails.

Making WalletDecisions Perfect Marketing Equation © All Rights Reserved.

“ A wallet-decision making process is when the only thought is about the cost and nothing else is considered.” © All Rights Reserved.

The Decision Making Process © All Rights Reserved.

* 543,000 businesses start up each month, most of these businesses will fail. Lack of capital is the reason for some, however, making wallet-decisions is also a factor. * © All Rights Reserved.

Examples of WalletDecisions are…. © All Rights Reserved.

 Choosing a novice instead of a professional web designer may save you money but will the website bring you leads? Be searchable by the Internet? © All Rights Reserved.

Not investing in entrepreneurial coaching or training – A coach that’s already been through the maze can cut years off the start up phase. Time you’re not making money, costs you money. © All Rights Reserved

Hiring outside help and delegating tasks – you have to learn to put a dollar sign on your time. If you need to make $100 per hour in your business and you’re spending 90% of your time in your business doing something that you could pay someone $13 and hour to do- well, you do the math. © All Rights Reserved

These are the types of decisions that many entrepreneurs can’t grasp. They have difficulty understanding that their time has a price tag on it. They can’t grasp the thought of lost revenue- because it’s money they don’t have yet. As a result, it’s money they will never see. © All Rights Reserved

When money is tight or even non-existent, I know that it’s scary to make these types of decisions – but remember what you signed up for. If you look up entrepreneur in the dictionary, it’s someone that assumes great risk. A risk is to face danger. If you’re not taking a risk and making decisions based on every factor, you’re not going to grow your business. © All Rights Reserved

Great Risk=Great Reward © All Rights Reserved.

Next time you’re faced with a decision in your business, don’t just consider what the cost is. Just as an exercise, even if you have zero intentions of making the purchase, just pretend money is not an issue and consider it from every angle. This is the mindset that divides. © All Rights Reserved.

Tammy Hawk-Bridges is an author, entrepreneur mentor and marketing strategist. She provides education and marketing training for entrepreneurs. Connect with her on Twitter @thawkbridges. I hope you found this slideshow helpful in your business please visit me at and download my Free Ebook that contains a step-by-step plan to grow a profitable business. The very strategy I use in my own business. © All Rights Reserved.

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