Focusing on costs generates fear of loss, one of the strongest human defense mechanisms. Fear of loss will paralyze you and stop you from doing things you need to do, from making the leaps you need to make. You need to be focused on one thing — revenue generation. “Take care of the top line,” said one famous businessman, “and the bottom line will take care of itself.”
Among the 2005 obituaries is one for a man you never heard of, and there’s a reason you never heard of him.
His name was Eric Griffiths. In 1958, he played with a Liverpool “skiffle” group called the Quarrymen. Asked by his band-mates to switch from guitar to bass, and to purchase both the bass and an amplifier, he realized the only way he could do so was by “hire purchase” (i.e. taking a loan and making monthly payments). Instead, Griffiths joined the British Merchant Navy.
It was on a ship’s radio in the Persian Gulf in 1963 that Griffiths heard “Please Please Me” the first hit by the former Quarrymen, by that time called The Beatles.