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- Money can keep you stupid because it allows you to do stupid things with no painful consequences.
- When you need money, you’re forced to look at your pricing correctly. You’re less likely to give your service or product away because you’re too scared to charge what it’s worth.
- Money stunts the growth of your problem-solving abilities. If you throw money at every problem that arises, you may never understand the problem and how to fix it the most effective way.
- Money can provide a distorted measurement of success and invite you to be less motivated to change things about your business and personal life that cannot be measured in dollars.
- When money is scarce, it becomes a critical resource and it’s used more wisely.
- Money can hide problems and weaknesses in your business model.
- Money amplifies bad habits. If you have bad business habits (overdrawing the bank account, discounting sales too much) and receive a lot of money while engaging in those habits, your poor behavior is reinforced.
- Learning to inspire others in your startup without money as a reward makes you a better leader.
- Having no money to market your product forces the product to market itself. This forces you to make the best product.
- The taste of money is sweetest when you overcome what seems like insurmountable money problems.