You are currently viewing 6 Money-Making Habits That Took Me Almost A Decade To Learn – DataDrivenInvestor

6 Money-Making Habits That Took Me Almost A Decade To Learn – DataDrivenInvestor

As I write this article, today marks 7 years since I first started trying to make my own money.
I know this because the Riviera festival in VIT was held around the second or third week of February and it was my favorite festival ever.
That year was supposed to be my first time attending the festival but I chose to spend that time with another friend talking about several things some of which were our ambitions.
In that conversation, I was introduced to the idea of making money online. It was so foreign to me. I couldn’t understand how that was possible even though online shopping was already a thing in India.
But the nature of working online appealed to me and my personality so I started the journey of figuring it out.
I tried not less than 30 online businesses.
Each and every single one of them failed.
The one success I had was also the worst loss of them all. It was a crypto trading business I started with $100. I grew it to $25000. I was able to withdraw and spend $700. But then I lost everything else.
But apart from that business, most of the remaining businesses I had never made even a single dollar for me.
The only other business was freelancing in 2018 and 2019 but that covered just enough money to pay my rent. I had to sometimes go 9 days without food. — Freelancing sucks!!!
That all changed about a year ago when I got into writing.
A lot can happen in a year.
Now my income is spread across, 3 things I care about, and am working on adding a fourth later this year.
But getting here had several lessons that I hope could help those just starting out.
Forget trying to find what you love. The answer lies in your virtues. Those inherent behavioral characteristics that you are proud of about yourself.
For a long time, I tried to convince myself that I loved helping people learn how to sell and recruit. I mean, my MLM phase told me that this was what I needed to do in order to get downlines.
Truth was that I hated that shit. I hated telling people to join me because I knew the value of these businesses was terrible.
Therefore, most of my time in MLMs was spent focussing on investing my own money rather than recruiting. If you have ever been in an MLM, you know how terrible of an idea this is.
Online businesses can exist in just about anything but even if you do not want an online business, you can still find success.
But you must learn how to listen to those noble virtues and use them to guide you into finding a business you truly love.
And when you do, train yourself to stay away from them.
If you think that something is too good to be true, it is, as far as you are concerned.
You don’t want to be approaching any business with a skeptical mind. It will cloud your judgment, dilute your efforts and waste your time.
Dangling carrots are often almost irresistible time wasters.
Look at writing here for instance. There are many writers who started writing here but then abandoned the platform because newsbreak or vocal had done enticing offers.
They abandoned what little had been built here only to reach there and find the grass was not greener. Some came back. Others lost momentum in it all and abandoned everything.
When you get something that aligns with your virtues, avoid alternatives. Those are dangling carrots.
People will tell you that you need to diversify/ spread out your channels. That is right but as a beginner, it is not for you. First, focus on making one venture worthwhile and then move on to the next.
I have created beginner courses of my own in other creative fields that make up part of my income but I strongly stand behind this recommendation.
If you have no results in any field, begin with youtube.
We are not in 2014 anymore. Anything you want can be found for free on the internet.
The only difference is that as you become better, you might need to develop better workflows. You might need to get specialized knowledge and insights in how specific people do their work. That is where courses like mine come in.
Before that, you have no business buying courses because you can get any knowledge you want for free on the internet.
Wasting your money on courses as a beginner, I can guarantee that it won’t help you acquire anything that you wouldn’t have found for free.
It will instead leave you broke and stuck.
Finding free information not only saves you money but also trains you to be disciplined.
When you have nothing at stake, most people don’t value the work as much. But if you learn how to show up every day and consume your free content, your discipline will be remarkable.
This will serve you well in sticking through the tough times of your business journey.
Sometimes, you are going to be in flow or excitement. It could make you think that you can just do a lot more on that day. — Terrible idea.
This is terrible because just as your mind got into flow or excitement today, surely will it be demotivated today.
“Everything flows, out and in; everything has its tides; all things rise and fall; the pendulum-swing manifests in everything; the measure of the swing to the right is the measure of the swing to the left; rhythm compensates.” — The Kybalion principle of rythm
You want to have consistency in your work. This means that you do every day, what needs to be done that day and allow your mind to prepare for the next day.
This will train your mind to operate in a way that keeps you showing up every day. If you let your moods dictate how you do your work, then you will be just as inconsistent as they are. And this is a terrible thing to have in business.
Most people feel the need to share their progress with friends and family. They will write their first article and spam everyone with it.
This might appear as a harmless flex but it is one of those things that dissipate your energy.
In the past, when I used to post everything, it used to take that rush of excitement and put it into the work of posting. After posting, I would notice the immediate energy drop as if coming from off a high.
I later realized that this was probably why whenever I posted work, I tended to slack off the next day thereby building inconsistency into my habits.
When starting out and working on your projects in general, you need to dedicate and optimize your mental energy for consistent execution.
You must engage in activities that help you do that and limit or abandon those activities that take that away from you.
This will help you show up consistently and with as much quality as you need in your work.
This is closely related to energy dissipation but different enough to require its own explanation.
I know that operant conditioning is a thing and human minds are not immune to it. We will seek out the dopamine hits wherever we can get them.
My point here is that you stop trying to get a reward but instead make your work the reward.
A friend of mine goes to the gym every day but then comes back home and rewards himself with shawarma and spicy lays in ungodly amounts.
Even in creating a business, there are many people like my friend. They will do 30 minutes of work for 3 hours of Netflix. I have been this way too.
Nowadays, I learned to keep my work separate from my entertainment. I don’t do that anymore. My work is the reward instead. This way I know that I can keep coming back to it every day for my reward.
This has helped me build consistency and volume in the things I do which have greatly contributed to the successes I have had so far.
All in all, your priorities should be to keep you showing up and doing your best work. Anything that gets you closer to that without causing disastrous problems to your health and wellbeing is good.
You can consider some of the points I have listed here and I hope they can help you.
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Written by
I have no diary but I think deeply about a lot of things concerning human wellbeing. Some of those, you will find here. https://james-skj.medium.com/membership
empowerment through data, knowledge, and expertise. subscribe to DDIntel at https://ddintel.datadriveninvestor.com
Written by
I have no diary but I think deeply about a lot of things concerning human wellbeing. Some of those, you will find here. https://james-skj.medium.com/membership
empowerment through data, knowledge, and expertise. subscribe to DDIntel at https://ddintel.datadriveninvestor.com

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