How does one make money?

How does one make money?

How does one make money?  That almost seems like a rhetorical question, yet I will attempt to answer it the best way I know how. I currently make money by offering goods and services to clients.  Previously, I was a W2 employee; I sold my time for a salary + benefits.  

I start most things with a market analysis; I look around and find things to do.  When I was pursuing my MBA, I learned to look at everything through a finance lens.  Whether a delivery truck or a candle at the farmers market, everything can be explained mathematically. Sometimes, though, you have to be a little creative.  Once the flow of money is understood, i.e. revenue must be greater than costs, things just start clicking.  All around us there are mispriced opportunities. As entrepreneurs, it is up to us to capitalize on them.  

The best piece of advice I received about making money came from a surgeon in B school and an old carpenter friend of mine. The surgeon told me,  “Never stop sewing,” and the carpenter told me, “You can always fall back on your tools.” I learned from both of these perspectives, and over the past 2 months I have been building TXD&F (Texas Deck And Fence).  I have put in 14-hour days in 108 deg Texas heat. I returned to the basics of construction and got back to the passion of building.  Through this process I have seen Price Elasticity of Demand in real time. I have wins and losses, but I know that the product I deliver is the best that I can build. 

My advice to anyone looking to get into the game is as follows: First, get your tools ready. Whether you are going to bake cookies or prepare taxes, purchase the best you can afford, and keep in mind that with these tools you will earn. Second, just do it; there is never a perfect time, but every day you delay is one less day you are earning.Third, seek completion not perfection. With time you will get better, and the only way to get better is with time.