I need a new computer!
My issue may not seem like an issue to most people, but I hope this helps you think of problems differently.
You see:
I need a new computer! My computer, despite still being relatively fast, is reaching the end of its life. I have had several component failures, the software is getting outdated, and components aren’t really compatible with the new technology. I could keep it limping along, but its really the lifeblood of a lot of my projects, and I can’t afford having downtime.
This seems like a pretty simple issue, right? Why don’t I just head down to my local best buy… head to newegg.com or amazon.com… or build something at dell.com or cyberpowerpc.com? Or maybe I should just build it myself and pickup the components on ebay.com, newegg.com, or tigerdirect.com?
I could settle for being cheap, and just buying the cheapest computer that will fit my needs… but I don’t like that idea either. I want a lightning fast m.2 NVMe SSD hard drive, and 64 GB ram. I want 6 GHZ with water cooling, and decent video cards. I want 3 large screen 4k monitors, and a sound card that can handle professional recording. I used to be cheap, but I don’t want to be cheap. There’s a place for bare-bones purchases, but this isn’t it. I don’t want to settle.
There is a huge problem with that logic, and that is: “How do I pay for it”?
Some people might ask if my credit card limit is high enough to buy the setup I want. The answer to that is “Yes”… but the problem is that I’m not going to use DEBT to buy a computer.
So others may say.. “Then go debt free and use your bank account… you have to have enough in your bank account, right”? My answer to that is: “Now if you checked my bank account, there’s enough to buy the computer I want”… but the problem is that I’m not going to use after tax, earned income to buy a computer!
And this is how thinking differs based on what level of the “Stabilize- Secure- Succeed!” process you find yourself.
Why do I need a computer? I need it for my business projects. If I use my bank account, I’m using AFTER tax, earned income. I don’t want to use After Tax earned income… that would be silly! Instead I need to use before tax revenue. It is after all, business equipment necessary to manage my businesses!
So I know i need to buy it from my businesses, not my wallet!
At this point you might be thinking, “OK fine- I get it, its a tax play. Now go use your business cash and buy it”
But again, its not that simple. You see, my businesses generate cashflow, which I use to buy more assets that generate cashflow. I don’t want to spend valuable cashflow on an expensive thing like a computer! Sure sure… you can argue it IS an asset that will generate more revenue than it costs, but it won’t really… it won’t generate more revenue than my CURRENT computer does, therefore it is a net loss.
So this raises a new challenge for me:
How can I generate enough money to buy the computer I want, without eating into my business cash flows, my personal debt, or my personal after tax cash?
These are fun challenges! There’s not only one answer, but a few of my ideas include:
- Find a way to get someone to GIVE me a computer
- Find a way to make my new computer generate revenue (mining bitcoin? – too late)
- Find a way to use my assets to buy NEW assets (or grow existing assets) that generate the cashflow to buy the new computer?
So what will it be? I think in this case its the 3rd line.
So instead of spending my money to buy a new computer, I will be spending my money to buy assets that will pay for my new computer… and those assets will continue to spit off cashflow after the computer is done and paid for.
So next time you need a new computer, phone, or car… Don’t just think about how to get it cheap, think about using it as motivation to improve your future for life… and once I announce that I bought my new computer, you’ll also know that there will be new business to discuss!
and when I’m ready for a new car, we’re going to start this process over again…
Now go out there and make the impossible happen!