Being Broke vs. Poor

Many people may think of being broke and poor as the same thing. Yet there is a major difference. Being broke is strictly an economic status/condition. Just because you are broke or don’t have much money does not mean that you are not rich in other areas of life. Many people focus their lives around money and a lot of other material affects and consider not having them to be the worst thing. However, you can be financially broke but rich in different areas such as family, support, religion, education, and just life in general.

Many of these come into play as an entrepreneur. There are many times that you may come across in your entrepreneurial trail to success where you may feel as though you are poor, but you’re really just broke because of the financial situation. Many successful entrepreneurs and people in general contribute other things to their success besides money such as strong family support. Family support is a huge motivator for entrepreneurs and me as well. Without the support of your family and network, you will quickly get discouraged and feel as though your ideas or ventures are worthless, yet they aren’t – you just need support. Now, I don’t want to get to much into religion, but I do want to just say that if you have faith and believe in anything, then you will most likely be better off in your ventures than others.

Now, the other part to this post is about being poor. Many people consider themselves or others poor, when really they are just broke. The definition that goes with being poor, that I like to use, is not only being poor financially but in other areas of your life (support, family, religion, etc). Without these different things in your life, you can consider yourself poor because being poor is not just related to an economic status as many believe.

Overcoming the mind frame of broke and poor can be tough. Being poor could be considered a very deep hole that you are stuck in and may seem to be impossible to get out of. However, just like with anything, you can recover and overcome the situation – its just going to be tough to make happen. Being broke is a much less different situation to get you out of. Remember, broke is an economic or financial condition, therefore, you can change your ways fairly easy to overcome it. Taking matters into your own hands and searching for a new job or better opportunities is a good place to start and not just wait for them to come to you. Taking steps to increase your wealth is what will take you from broke to successful. Just figuring out what those steps are is what can be difficult and I don’t believe that it could just be narrowed down to a simple list, otherwise I would tell you how and we could solve all the problems!

So, I would love to hear your ideas on taking your self from broke to successful in entrepreneurship and life in general. Any suggestions you have for others to make changes in their lives and take actions into their own hands are awesome!

Best of luck!

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