This has been an interesting decade – I’ve never seen more opportunity for your average person to become an entrepreneur.
You don’t need permission from anyone to start making money.
People have gotten rich from affiliate marketing, e-commerce, creating apps/software, cryptocurrency, creating content on YouTube, and the list keeps going on.
But with so much opportunity it can be easy to become “overwhelmed” with finding the right idea. In fact, I’ve seen people get into a state of analysis paralysis and end up never taking any action at all.
Let me share with you an example with someone trying to be an affiliate marketer.
I know someone who’s been in this industry for five years and has never made a dime.
The ironic part is that he’s VERY familiar with the affiliate marketing industry. He’s seen all the trends and opportunities. He’s in all the major Facebook groups and has even attended a few conferences.
So what’s holding him back?
Well…when he sees an opportunity, he immediately thinks about all the reasons why it won’t work and all the downsides. He does this until he convinces himself not to take any action, and he waits until the “next thing.”
He’s sitting around trying to find the easy path to riches which doesn’t exist.
The truth is, there’s no “easy” money in this industry.
Waiting for the “right time” is like waiting for all the traffic lights to turn green before you start driving.
I asked him why didn’t he take advantage of all the opportunities and trends from the past few years.
Here are some of his reasons:
- If you want to do Shopify you’re going to need to deal with customer service, manage a small team, and deal with small margins.
- Want to run “black hat” on Facebook? You’ll always be in a cat and mouse game against Facebook, and they’re only going to get better at detecting you.
- Want to run lead generation? You’ll need to learn how to build email funnels to increase your lifetime customer value.
With every opportunity, all he sees are downsides.
And I’ve noticed some people get “grass is greener” on the other side syndrome. Campaigns suck! Let me do something outside of running campaigns!
- Running an affiliate network? You have to deal with deadbeat advertisers and fraud affiliates.
- Want to teach people affiliate marketing? It’s a pain in the ass building a brand, and it’s becoming challenging to sell courses.
- Want to build an agency? Oh god, I’d hate to deal with demanding clients.
- Ooooh…you want to build a SaaS and get that sexy recurring income? Quality developers are expensive and you’ll have to make significant upfront investments.
One phrase I like to use is “pick your poison.”
You have to put in work if you want to make money. There’s no 4 hour a week system where you make $3,000 overnight without putting in any work.
Do YOU have the same kind of mentality as my friend?
I don’t blame you because I had it too in college. I think society teaches you to avoid risks at all costs when success requires you to learn how to manage risks.
I actually learned how to overcome this mentality by playing poker. I use to play SUPER tight; I wouldn’t play unless I had a decent hand. I wouldn’t raise unless I had good odds. Well, people caught on early and I become predictable. It wasn’t until I started learning how to manage my risks that I started running.
In some ways, I think the negativity might come from too much research and planning.
One piece of advice I got a long time ago is called the “Speed of implementation.” When you get an idea and you’re excited about it, start taking action immediately. The longer it takes you to take action, then the more time you have to convince yourself to not take action.
And finally…don’t be scared of making mistakes.
I know a lot of you are worried about investing time and money into a type of campaign, and finding out months later that it bombed. You’re still ahead. You learned what didn’t work, and you gained experience. I always say you can learn a lot more from making the wrong decision, than not making any decision.
Featured Image by Vir4ello