Tag: money

Solving problems with money?

The “easy” solution is to throw more money at the problem. But while that may fix the problem short-term, it is really only acting as a band-aid. The underlying problem is still there. You may have stopped the bleeding or helped to prevent the wound from getting infected, but you haven’t healed anything.

While it’s tempting to throw money at the problem, use that either as a temporary stopgap, knowing that you need to get a plan together and put it in place ASAP – OR – avoid trying to fix your problems with money altogether (especially if you’re a startup/don’t have expendable cash yet).

Do you want to be an amateur or a professional?

Amateurs do what they want. They do what feels good or right at that particular moment in time. Amateurs don’t get paid. Professionals have a plan and follow it. They practice daily and they get compensated as a result.

Professionals are experts. They know what works and they put the majority of their efforts in the tried and true. Once they’ve mastered that, they’re willing to take calculated risks by branching out to try other ideas. But they don’t do this as it comes to them. Even when they are thinking outside the box, they plan and calculate before taking action. And all the while, they are still repeating the process that helped them become experts in the first place.

So next time you get bored or tired of doing what you know produces results, do it anyways. Follow a plan (or formulate one based on facts if you must) and stick to it. You’ll never gain traction if you keep switching from one idea to the next without rhyme or reason. Don’t be an amateur. Be a professional. Be an expert.

Don’t let your emotions lead to bad decisions

If it sounds too good to be true, it probably is. Don’t let someone sell you something you don’t want or don’t need. They will try to appeal to your emotions (especially fear and greed – two of the most powerful emotions to manipulate). But ultimately, it’s up to you to decide if you want to gamble your money, time, or energy away with them.

3 Truths We Need To Remind Ourselves

1. Being active doesn’t necessarily mean you’re being productive.

2. Being efficient doesn’t necessarily mean you’re being effective.

3. Discipline doesn’t strip you of freedom, discipline equals freedom.

Don’t get caught up focusing on the wrong things. We can easily become distracted checking off items on out To Do list, but if they aren’t producing value in your life (monetarily or by increasing your happiness), why are you doing it?

Are you optimizing things that don’t matter (being more efficient, even though it doesn’t improve the end result of the goals you’re trying to achieve)?

Are you thinking negatively about restrictions others have placed on you or that you’ve placed on yourself? Some rules are meant to be broken, but if you set up the right rules to improve your time, energy, or health, stick to them! Reduce decision fatigue by sticking to your self-imposed rules so you’re more likely to consistently make good decisions.

Mindset change to earn more money

How can we do more with less?

How can we earn more money in less time?

We need to figure this out, because eventually we all hit a limit for how much time we can spend doing something (time capacity). Instead of thinking “I make X dollars per hour, so I’ll just work more to make more money,” we need to focus on changing the type of equation we’re trying to solve.

It’s not a dollars for hours worked equation. It’s a dollars for impact equation. Focus on the big items that make the most impact and outsource the rest.