Yes I know a funny title, but it is something I have seen a few times in my business life. Now before we start I would like to get something clear. I am not against money, we all need money to live and to survive and before others say it I am not mis-quoting the Bible Verse. The verse says “For the love of money, is the root of all evil”, It does not say Money is the root of all evil. Ok now we have that out the way lets start.

Some years ago I had the pleasure and privilege with working with some top business men and women in the telecom field – I learnt a lot about marketing from them, and learnt about advertising, and I learnt Direct Response Marketing. But at the same time, I also saw how having too much money  was also bad for a business.

The person I worked with owned many companies some small and some large, but his main business was making around £500,000 a week in profits. He only employed a few staff, and that amount was after profits, and 75% was on auto-pilot, so in effect they never really needed to work. But this guy was always up for a challenge and most weeks and sometimes days would start up a new business. Sometimes if I went into the office there would be boxes of leaflets and I would say to his daughter what are they. She would laugh and say Oh dad thought up a new business the other day, and this is the marketing stuff. (They bought their own printers).

But I many weeks later, I would ask his daughter or him how this new business was going, and he would say, oh have not had the time to do anything with it. and no joke this would happen 2 or 3 times a month. Some he would do others he just never started. These were proper businesses (ltd company the works).

As time went on, I moved on, I do still keep in contact with the family and it is still the same. Some of the ideas are fantastic, and because he works with some of the worlds leading marketing people, he almost has open source to new ideas and concepts. But and the big But his main core business is earning too much money. Today they have offices all over the world and they now employ a few hundred staff, but at the same time so has the main companies revenue.

As your business grows please be careful, do not let all this extra cash take your eyes off the goal and reason you are in business. Model your business in the successful people in your niche, and when the money does start to flow, keep focused and do not get side tracked. But if you do find another niche, invest some cash and find someone who has a passion for that niche and let them run it.