Money Loves Speed

Author and coach Joe Vitale is fond of saying, “Money loves speed.”

People who take action quickly and decisively make more money.

Whether we have an idea for creating an info product, writing a book, or putting a business venture together, if we want to make money, we need to be quick.

One of the main things I see that holds people back from earning on the net, is they don't put their ideas into action in a timely manner.

This doesn’t apply only to online earnings. It applies everywhere.

I have been involved with a real estate investing partnership for many years. I can’t tell you how many times we lost a deal, or missed out on an additional profit opportunity, because we delayed.

More than once, we got bogged down in drafting the “perfect” proposal. By the time we sent it out, the property was gone.

Other times, we did so much analysis in deciding how to reply to an offer, by the time we got around to replying, the buyer had already gone elsewhere.

They had investment money, and it only earns them profit if it’s invested. We took too long and lost out on it.

It's very easy to get bogged down in things like planning, scheduling, analyzing, and perfecting.

It even feels like we are taking action and moving forward when we do those things.

In reality, we are just delaying and slowing down.

Money loves speed. It doesn’t love inaction, or even slow momentum.

Why do we have a tendency to delay or slow ourselves down?

Usually, it’s self-doubt. Other times, it's because we are striving for perfection. Sometimes it's fear.

Regardless of the reasons why we delay, the results are always the same.

We lose out on profitable opportunities.

We also risk not just delaying a project, but killing it altogether.

When we start over-analyzing, the excitement and enthusiasm has a tendency to fade. The longer we take to get into “launch mode”, the easier it is to let things fall to the wayside.

As our enthusiasm fades, new ideas will take hold of us and we’ll get excited all over again about something else.

However, if we don’t keep in mind that money loves speed, it is easy for the delaying habits to creep back in.

Also, when we over-analyze, negative thoughts start to rear their ugly heads. We think of reasons why it won’t work, or how it can be done better.

Even if we are correct about those negatives, most of the time it doesn’t matter.

Why?

Because money loves speed. A product or service on the market can be earning money. Even if there are negatives, or bugs to work out, they can be worked out while the money flows in.

As long as the project languishes, we are earning nothing.

We are losing something, though.

Time.

Time is finite. Once we've lost it, we can never get it back.

If that wasn’t bad enough, we aren’t losing just money and time.

We also lose possible partnerships, business relationships, affiliates, and customers that would stay with us for a lifetime, if we only gave them the chance to do business with us now.

Money loves speed.

This doesn't mean you need to get stressed about not being productive enough.

If you are constantly taking action, and not getting bogged down in quests for perfection or over-analysis, you will earn more money.

The key is to keep in motion and aways have forward momentum.

Once you have an idea formed, set yourself a goal with a deadline and “Go, go, go!”

I’d love to hear your thoughts in the comments section below about what you do to keep your projects moving forward.

What are you waiting for?

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4 Comments

  1. Perfectionism will always lead to a lack of action the perfect ebook that doen’t get marketed will always make less money than the imperfect ebook that is marketed

    Reply
    • Absolutely! Unfortunately, we’ve all gotten caught up in that at one time or another. It’s an easy trap to fall into.

      Reply
  2. I have often taken ages trying to perfect rather than getting on with the business I have created. I see people who started after me over take and become more popular it is soul destroying. With my new angle/venture I am moving as quickly as possible not worrying about small things like perfecting my logo etc. I am feeling hopeful this time round. Great blog.

    Reply
    • Eliza, yes, it can be devastating to see that happen. I’ve been there, and know exactly what you mean. Just keep moving forward! Since this has been an issue for you in the past (as it has for many of us), I have a suggestion. On an index card or half-sheet of paper, write the phrase, “Money Loves Speed” and put it somewhere in your work space where you will see it frequently. This will help keep this concept in mind and hopefully help you maintain forward momentum.

      Reply

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