Mistakes We Have Made In The Past (Part 3/3)

⤗ ⤗ ⤗ The BUSINESS Edition 🙎‍♂️🙎‍♂️

A @BowTiedBull Wisdom Thread 👇

There is no reason to go above and beyond unless the results are going to accrue to you

This is seen most in the work environment

Trying to be the #1 person is unlikely a good use of time
Using Wall Street as an example, if you’re in the “top bucket” you’re going to make roughly the same as the #1 ranked person in your class

Maybe you’re off by a few percentage points
This really doesn’t matter because the #1 guy has a much higher bar to keep up with


he is going to be forced to work more (everyone wants the guy on his team)
The only exception (getting an A+) is if you’re in a revenue generating role and have nothing else to work on (unlikely)

A- work is not good enough if you own Equity (your own business)

This is because you obtain all of the benefits
The A+ worker in a corporate environment is almost always the “highest operating margin employee” this means the extra few thousand he is paid is more than offset by the revenue he generates

Otherwise he wouldn’t be so loved, would he?
Put these two together and you’ll realize that it is better to be “liked” but not extremely liked in any corporate setting

This gives you a lot more time to build your own stake in something that flows directly to your bottom line
A+ work is only necessary if it is going to benefit the person who matters: you!

You should only be motivated to do A+ work if you see the benefit of said work

You should never sell tiny websites

Well, it depends but the point is pretty simple

If you have an extremely small website that makes $500 a month, you should not laugh at it
If it makes $500 a month but requires a lot of time to run, then you should dump it

The key here is how much effort are you really putting in?

If you have an old website that makes a few 100 dollars a month but spend 15 minutes a month on it... keep it
Just because a website wasn’t a success doesn’t mean it was a failure

There is definitely a middle ground and the middle ground is determined by time

We’ve sold quite a few websites that we considered failures

Making between $300-600 a month

We should have kept them
They are still up and running today and probably make the exact same amount of money

That was many years ago!

All of that money could have been sent into a bank account without doing anything

In fact, if you have 20 “failed” websites, that would be $6,000-12,000 a month...
with minimal work

This is a simple reminder to see if you can automate any “failed” project you hav

If you can reduce the time to practically zero, you should keep it until it goes into the red (could last several years in the green)

Yes everything is sales
And, No, sales are not equal

We wrote it is better to sell to the masses since you learn basic communication skills with a wider audience that allows you to improve your social life as well
That said, if you know how to sell to the elite, there is no need to change gears

While this is a high level view, it makes absolutely no sense to try and change your target group

Assume that you have a solid business that targets women in their 30s-50s
Now you want to start a second idea

Is it better to try and target men in the same bracket or a different set of women?

Trick question


You’re better off finding another product to sell to the same age group!
This is because you’ve already figure out how to tap into the sales funnel for that group

This is also why you find that specific affiliate marketers sell to certain niche’s

Gambling websites do not hit the same group as cosmetics
Diet does not target the same group as Lead Gen

While there are some specific instances where they do overlap, it is much smarter to stay with your core competency

This is also why we are quite impressed by people who succeed in various types of businesses
Most can only tackle 1-2 industries or target audience (not throwing shade, one industry is *more* than enough)

That said, targeting multiple at the same time takes a lot of skill

Also. We’ve noticed that this is typically where people blow their money
They succeed in one area then try to expand in an unrelated area... only to fail and lose a large amount of money

While we did lose a good amount of money trying an endeavor that was unrelated to a core business, it didn’t break the bank
We’ve learned our lesson and hope that anyone reading this will be sure to max out their core competency before moving on

Remember, if you know where your talent is, you need to maximize it before moving on to more risky ventures
Targeting a completely new group of people is a big risk

Thread FIN!!!
Retweet the first tweet if got something out of this 👇

The lesson came from @BowTiedBull
Subscribe to his substack to understand crypto and life

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with BowTiedElephant | Motivational Tweeter

BowTiedElephant | Motivational Tweeter Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @BowTiedElephant

2 Jun

Learn the 8-step process to rid yourself of the need for motivation

A @BowTiedBull slap-in-the-face Wisdom Thread 👇
The need for motivation is for the unsuccessful

If you know someone who needs to be lifted up *emotionally* to achieve something... He never wanted it in the first place

He’s simply someone who wishes upon a star for the world to give him something he never deserved
Even worse? He thinks the emotional pump up is good for him

The type of person who gets amped up by written words in a text book or a motivational video, will scour the internet far and wide looking for a solution to his problems

It will never come
Read 24 tweets
1 Jun
MORNING ROUTINES are great and all, but do you think there's just "One Ideal" routine for your whole life?

This thread can change your life right now

How? By incepting in your mind this idea that you CAN and MUST change your routines depending on your SPECIFIC GOALS

Read on 👇
People usually adopt their routines (if any) from their role-models, either consciously or subconsciously

And then they feel bad if they are unable to do the same for extended periods of time

Even if they did, they wonder why their life is not as awesome as their role-models

If you are into fitness and follow news around that world, then you'll see the influencers workout first thing in the morning (mostly)

@jockowillink wakes up at very early daily (like VERY) and silently invigorates half a million people just by posting his waking-up time... ImageImage
Read 12 tweets
27 May
Mistakes We've Made In the Past

🏋️‍♂️🏋️‍♂️🏋️‍♂️ ~~The HEALTH Edition~~ 🏋️‍♂️🏋️‍♂️🏋️‍♂️

A @BowTiedBull Wisdom Thread 👇

When you’re young, you can consume practically anything

The most classic items are cheap carbs:
pizza, ramen noodles, lots of rice, candy bars, fast food etc..
Your body is able to consume these items and see no major impact (when you’re young)

This leads to the belief that food is just a way to get rid of the “hunger” feeling

Completely wrong
Read 16 tweets
25 May
A Day In The Life of a LOSER

(make sure your days are never like this)

A @BowTiedBull Wisdom Thread 👇
7:45am >> Alarm clock does off. (Snooze)

7:50am >> Alarm clock goes off again (Snooze)

7:55am >> Alarm clock goes off, hits snooze button and finally gets out of bed to change
8:00am >> alarm clock goes off again and hits because he keeps his clock next to his bed so he doesn’t have to stand up to get to the desk

8:20am >> Just got out of the shower and is now running **10 minutes late** see above
Read 23 tweets
24 May
One of my favorite people on the planet is @ScottAdamsSays

He's a favorite because of all the fun I remember having reading his writings and may be for one or two life lessons here and there

A Thread of my most memorable Scott Adams moments 👇
His blogs site in 2 sites. The current one is there since 2008. But before that, he's written quite a bit of great articles in the typepad site

Here are some of my favorites from there
But I suggest you spend a nice, paid-by-your-employer Monday Morning to go through the entire site
Read 16 tweets
23 May


A @BowTiedBull Wisdom Thread 👇
What is the point of the story?

It is how you should approach life:
Read 18 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!