Do You Save Your Butter Bowls?
In my early twenty’s I worked in a Honda assembly plant in Ohio near a small town called Liberty where I met a fellow by the name of Dana. Though Dana worked at the same plant, he was an entrepreneur who bought and sold condominiums, and even tried to start an Emu farm (which didn’t pan out by the way). Dana was about 10 years older than myself, and
when working together on the assembly line, would do his best to instill in me some wisdom about entrepreneurship. One conversation that stuck with me to this day was the butter bowl philosophy.
People in general don’t really want to spend money unless they have to, thus the idea behind the saving of butter bowls. It’s cheap, plastic, and has no real value other than it’s intended use of storing butter, or eating cereal yet people do save them. It isn’t really about people being cheap, but more about people being afraid to give something up, even something as worthless as a butter bowl. In the same respect, people don’t want to give up their money even if it means getting something better in return over the long run.
There are times when you really do have to spend money to save it, and spend it to make it, but if we are afraid to let go of it in the first place we’ll do neither. Dana’s emu farm was a bust. He started with three, one we cooked up at a party he had at his house, the other two he had to sell. Sure, he lost some money on that deal, but he wasn’t afraid to spend it in an effort to make more. I don’t know where Dana is today, but I would bet money through trial and error he has found a way to make his money work for him.
An example of spending money to save it might be in the form of stocks, or bonds. While bonds are generally safer, stocks do have the potential to have a bigger return in the long run. An example of spending money to make it might be in advertising. Spending money on advertising can be risky, but do it right and the rewards can be great. You might also spend money to save it in your everyday life, elective utilities for example. Many voip companies are offering yearly plans with unlimited local and long distance calling. You have to pay X amount up front, but pay no more than taxes the rest of the year. There are many more examples, but I think you get my point.
Now I know the butter bowl is just a philosophical scenario, and your success really has nothing to do with whether or not you keep your butter bowls, but to this day I still throw mine out.
February 22nd, 2008 at 10:28 am
Hey Daymon! Saw you were up and running over at BlogCatalog and followed you over here to your blog. I like your butter bowl story, I used to save them (probably everyone does) until I finally moved to a place that recycles lol! Now I keep just a few, for extra storage, but return most so they can be used yet again (turned into something useful).
Granted the bowl was an analogy… you are right though, you do need to spend money to make money, and it’s amazing how many just don’t get that - or want to part with it - on a “chance.”
But like your friend, unless you’re willing to explore, those opportunities are not going to just fall into your lap (for the majority of us).
Oh, and btw, I really like the look of your blog!
February 22nd, 2008 at 11:51 am
Thank you, Diane
It didn’t take them long to get me up and running; about 2 hours. Just lucky I suppose. I’m glad you enjoyed the post, and yes, I too am in that majority who do not benefit from money falling into their laps 