There’s a lot of hard stuff standing, arms folded, smug smile, in the way of you becoming a millionaire. And most of it’s mindset related; hence all the quotes articles.
But, at the top of that list, is this: being able to walk away from small money… to go make big money. It’s almost impossible to do when you’re broke; and still challenging, even after you’ve made millions.
Some personal examples:
1) I sold other people’s products for a commission. Always a small one. Why? Because I wanted fast and easy. Ironically, because the rest of the world did too, competition was batty. So fast and easy never happened. And in this case, I made no money whatsoever. More irony: I now monetize this website with low-commission affiliate offers, but for two reasons: (1) since I’m now set financially, most of what I do is about lifestyle first, money second; and (2) when you get so f*ckin’ good that competition is irrelevant, well, you can make anything work. (I’m just explaining myself so I don’t look like a hypocrite – this lesson still holds very true today.)
2) When I started doing client work, I charged too little. Why? I needed money. Needed hope. Needed to make something happen. And I suppose, if I’m honest, I knew I wasn’t good at sales… so I made it easy on myself by being affordable. (Notice the trend.) In this case, I made teeny-weeny money.
3) As I got more clients, I upped my prices, but still worked with any d*ckhead who’d pay me. For instance, one client made an extra $1.1 million dollars in nine months, thanks to my ads. He pocketed 40% of that. And I? Made a grand total of $6,000 for my magic. Wait. Minus PayPal fees. Plus, I had to pry it from his cold dead hands. Here, I made small money. Especially in relation to value given.
4) Even after I’d made my first million, and even today after I’ve made many more, it’s tempting. To take on that $5k per month client when you’ve got an economic engine already built, headed to $1 million per month. Or load this website with ads that make hundreds or thousands, instead of holding out for millions. Man, it’s tough. But now, I know better. These mistakes’d make moderate money in the short-term, but cost me millions long-term.
When money’s involved, opportunity cost gets cloudy. “What’s wrong with a quick win?” you reason. “Yeah but, it’s extra,” you say. “Besides, my main thing’s gonna take a while to build.”
Careful. You’re playin’ yourself. Always pass on small money.
If you’re caught up in some small money sh*t, currently? Shut it down. Or charge more. Then fire any client or customer who’s underpaying you or damaging your vibe.
I’d literally rather see you take a trip or a nap or read a book or f*cking flex in the mirror than pursue small money projects. No matter how innocent they seem. I’m speaking from experience. Again, this is all assuming money’s the main goal. If not, or if you’re already the best in class, then by all means: do whatever’s clever. It’s much much harder to make small money work, but it can be done if you’re advanced.