So It’s been a few weeks since I have written anything at TheYoungCapitalist.com, but for good reason. First of all, I hope you all saw my inaugural post as a Small Biz Expert over at Small Business Trends. Turns out, it was pretty popular! I think the idea of Time as Currency is really beginning to catch on in all generations, not just the youngins’.

OK…It’s a Friday about halfway through September. I’m sitting at my desk at my job (with a soft “j”), thinking about this balance between time and money. When my paycheck arrives, it is $1200 short and this is the last of a long line of injustices my boss had brought upon me, including but not limited to phone calls when I was 4 minutes “late” (it was an all commission sales position), phone calls when I left 5 minutes “early”, meetings to discuss whether or not I wanted to be there, and constant emails reminding me of the office dress code and business hours.

The $1200 was all it took for me to decided that I was done with that job. I had already started Vision Market Development about a month prior, so I took the leap and I am now full time self-employed! It’s fantastic. We weren’t going to have much money for the next few months as I was getting my business up and running, but we had gone without money before, and we could do it again. I didn’t think it would be much of a problem…that is, until my wife told me she was pregnant the next day!!!

Yes Yes, you heard it! There will be a new Young Capitalist in the house! Pictures will come in May. I’m so excited, I can’t even begin to explain. So needless to say, I’ve a bit of a roller coaster of a month but I’m settled in to my new schedule and back in business. Apart from the carpel tunnel, working from home is amazing!!

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So I’m scanning through my RSS this morning and I happened across Leo Babauta’s Key Question: How Much is Enough? at Zen Habits. He begins this post by leading into a question,

We often want more than we have now. More money, more gadgets, better furniture, a better house, a better car, more clothes, more shoes, more success.

And what happens when we get more? We aren’t satisfied, because there are new ads for new iPods, for new laptops, for new iPhones, for new cars, for new clothes. We have to have those. It’s impossible to satisfy that hunger for more, because our culture is not satisfied with what we have, but is geared to wanting more. It’s consumerism, and it’s the official religion of the industrialized world.

That sounds preachy, so let’s move beyond that: ask yourself how much is enough, how much do you need in order to be satisfied? I submit that the answer is that we already have enough — possibly more than enough.

What does “enough” mean?”

This is a valid question with many possible answers. Of course, “enough” is a subjective term and cannot be quantitatively defined. Therefore, we must think of “enough” in qualitative terms. Most of the responses given to Leo’s question sound like:

“Give to others.”

“find ‘enough’ in religion.”

“learn to enjoy the simple things.”

“all you need is food and shelter.”

Although these are valid, authentic, and legitimate answers, I believe they fail to take into account that humans are naturally egotistical and materialistic. People don’t want to go without the “good” things in life. So none of these types of responses amount to any kind of happiness until you learn to live with Margin. Allow yourself some breathing room and all of a sudden, the paid off Honda Accord drives much nicer than the financed BMW.

Margin does not only apply to money, but all areas of life. You’ve heard about the reaction of a cornered rat, right? They freak out and attack. That’s how most of Americans are living their lives, in a corner. They need margin.

Margin in Finances

Margin in Time

Margin in Relationships

Margin in Fitness

Margin in Attitude

Like I said, there is no quantitative definition of the word, “enough,” in materialistic terms. I believe that “enough” = “margin.” Having left over and extra is how you have enough. There is no certain amount that is enough. you can make $30,000 a year and have “enough” because you have margin in your life. On the Flip side, you can make millions but be living above your means, so you don’t have “enough.” You must have margin in every area of your life.

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1. A Hot Wife - I would much rather be with her than my boss, and I’m sure you all would agree that a hot wife is better than a jerk anyday! A hot girlfriend would do aswell for those of you who have not taken the plunge yet, which, by the way, I highly recommend. Being married is fantastic! For those of you looking, here’s a hilarious little Gem!

2. A New Puppy - Beaglejuice is his name and he’s a Badass. I was never a dog guy…in fact, I ridiculed people who had and loved their dogs. I still think it is odd, and still do not understand how our society came to accept the idea of having animals living in our houses, pooping and peeing and making us feed them! But he’s awesome and we have tons of fun!

3. Daily Dates With Your Pillow - A.K.K. NAPS! Can’t beat a good nap! Turn the fan on high and hit the pillow hard! here’s a question…Does anyone know why you get cold when you sleep at night but boiling lava hot when you sleep during the day?

4. Not Eating Fast Food - How about a nice, fresh, homemade sandwhich! How about not clogging your arteries with lard? How about feeling 10,000,000% better? How about not being fat? Sounds good to me!

5. Excuse to Buy Yourself Cool Stuff for a Home Office - A new computer, a sweet desk, a new chair, all sorts of awesome organizational stuff. I think I just need to be rich becasue I LOVE buying “stuff” like gadgets and gizmos.

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Have Products You Are Proud of!

This is part 2 of a 3-part series, here is Part 1.

Sounds like a no-brainer, but it’s unbelievable how many people start businesses based on what words people search on google, or how much something is on eBay. Yeah, you can make money doing it, but if you’re anything like me, a business STRICTLY for the money will lose your interest quickly.

Another no-brainer is to start a business doing something you love, or at least in an industry you are passionate about. Your passion comes through in your sales. Michael Gerber talks about this in his book, The E-Myth Revisited. There is a difference between working in your business and working on your business.

The danger that comes along with starting a business in an area you are passionate about is that it is very easy to get caught up working in your business. On the other hand, having products you are comfortable with allows you to focus on working on your business if you make a conscious decision to do so.

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Do Business You’re Comfortable Doing.

This, in no way, is a liscence to shy away from those things that make you uncomfortable. You will never here me arguing for anyone to stay in their comfort zone. One thing I would tell you is to do something, at least 1 thing, everyday that stretches you outside your CZ.

Now, what I mean by “Do Business You’re Comfortable Doing,” is that it is best to start a business in an area that you have expertise. Don’t go starting a landscaping company because a guy you know makes a killing doing it. Stick to your “core competencies.” I think it’s time to leave Corporate America now that I’ve started using Corporate Lingo!

If you stick to a business you know, you’ll be better off in the long run because on top of that, you’ll have 15 other things to do as an entrepreneur that you DON’T know.

My latest business venture is in an area where I am comfortable, sales, with products I am comfortable with, consumer electronics, and it will not be very capital intensive. For a young entrepreneur, those are critical.

Vision Market Development is a manufacturer’s representative agency providing products including mobile phone signal boosters and portable home security devices, as well as software development and engineering services. Our first order of business is a trip to the CEDIA confernece in Denver, September 5-6.

I plan to start making sales calls for an hour during lunch and then I’ll call the west coast from 5-9 PM. This will give us a good headstart, and I’d like to go full time as soon as possible. Let’s see if I can stand it long enough to replace my income before I quit?

When looking at new ventures, I really do believe there are 3 essentials.

1. Do Business You’re Comfortable Doing - I don’t really subscribe to the idea of “I’m not a salesman” because in reality, everyone is, but if that really is not your strong point, know that and find somebody that can do it well. If marketing is your thing, stick to it. Focus your time and effort on the things that will you give you the most return!

2. Have Products You Are Proud Of - Sure, you could make money selling anything if you’re good enough at sales, but wouldn’t you rather enjoy what you’re doing and make even more? If you believe in your products and are passionate about what you are doing, you can go far!

3. Low Startup Capital - This is not necessary if you have a father-in-law throwing money at you, but sadly, most of us don’t. So, if you can find something that you don’t have to put $800MM into, that would be a good start! Once you’re 35 and have had some good success in business, then you can do looking for the big investments. But until you’ve gotten your feet wet, I would stay away from the “angels.”

Have you been to the grocery store recently? Have you noticed that you have the option between 25 differnt toothpastes, 15 different orange juices, 11 different kinds of turkey, and 7 varieties of milk.

I am a firm believe that more choices = more freedom, but I will submit today that, in many cases, an abundance of choice can cause discomfort. Not so much with fruit juice or toothpaste, but in entrepreneurial terms.

Let me here you if you relate to this, but I have too many options when it comes to business. It makes it hard to focus, and we all know the power of focus. It is what turns soothing, lifegiving light into a deadly weapon with the ability to cut off a head.

David Shanks, co-author of Straight Choices: The Psychology of Decision Making , says

So much choice makes decision-making increasingly complex.

He goes on to explain that it’s all about opportunity cost. We feel bad that every time we make a choice, it seems we are missing out on other opportunities. I would like it if I could pick something and be content with it. Hopefully, being in business full time for myself with help out. That remains to be seen. I still can’t imagine myself doing the same thing for the next 40 years, let alone 40 hours a week.

How do you make descisions?

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We all have the things we want to do like lose 40 lbs (guilty), learn a new language (guilty), clean out the storage space (guilty), or start a new business (guilty).

The problem is that most people try to feel their way into action, when success is truly found in switching the two. Action that accomplishes a worthy pursuit must always be taken without feeling. “Feeling” being defined as the euphoria of victory.

Here are some of my practical steps to engender motivation when I feel it is lacking in my life. Hopefully you will see the same benefits!

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My job blows. Who’s with me?

I’d like some feedback from the crowd! Let me know what you are doing to get out of your job. Are you starting a business? Are you blogging your way out? Are you happy to take a pay cut to stay at home? What are your big ideas?

No need for details, of course. We don’t want anyone stealing your big ideas.

I’ve just got back from lunch with my dad and a potential partner of ours. We are talking about creating a manufacturer’s rep agency. We all have some pretty good contacts for deals repping some cool products. Also, I’m still focused on starting The Smoky Cigar, my cigar shop, and I’ve always wanted to get into real estate.

How about some chatter!

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The phone is ringing!  Someone answer the phone!  Drop everything you’re doing and get it, it’s ringing, this is important!

 ok, It was a salesguy…not so important. 

“ding, you’ve got mail!” - Quick, check it now, it might be an emergency!  Maybe it’s a customer with a complaint!

Well, it was junk, and the one before could have waited till tomorrow morning.  The next one can wait till the end of the week.  But you dropped everything to check the almighty email. 

24 is on!!  Forget the family budget, we’ll get to it next week.  I wanna see Jack Bauer crack some heads!

On and on it goes, the important is pushed out of the way by the urgent.  This is what happened to me this week.  My wife left the country for 10 days.  I know some of you are thinking, “sweet!”  But it was anything but.  We have been married for 2 years and haven’t been apart for more than one night. 

Needless to say, I was completely lost.  Seriously, I got home from work on the day she left and I was confused.  I walked in the door like “what do I do when I get home from work??”

 Well she’s home and I’m alive again!  This whole situation got me thinking about the issues of urgent vs. important tasks, and the feelings that go with them.  I spent a week doing urgent and unimportant things and let the important and unurgent things (like my blog) fall by the wayside.

I’ve found that when I am the most productive, I am the happiest.  When I sit around and do nothing for a week, I’m unhappy and unfulfilled and generally anxious and nervous and all sort of other “ous’s.”  So tell me, what makes you feel the most productive?

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