Yesterday, I was at an event where Penny Schiffer talked about money mindset, bootstrapping and introduced her 3-C- Venn Diagram, standing for concept, contacts and cash.
She explained it as follows:
In the circle concept are all the activities that you enjoy, love the mission and you learn.
In the circle contacts, you expand your network and in the circle cash, you earn money. In an ideal world you'd only do activities that cover all the three circles. However, in reality often you need to choose two and balance them out.
She encouraged us to think about in which circles we spend our time and how we balance short- and long-term goals.
When you bootstrap you need to make money to finance your company, so sometimes this means taking on jobs, projects or partnerships that may not be the most enriching in the areas of concept or contacts.
As an idealist and dreamer I tend to go for an overlap in concept and contacts. However, I do want to focus more on the cash circle in the future.
I will ponder upon this a bit more.