Thread by @richstemecom

10 money-making lessons I wish I would’ve learned sooner 💰

A bookmark-worthy /// THREAD ///:

Lesson #1: Never stop learning

Fuck fancy degrees. All you need to be accumulating is knowledge and skills, not degrees.

Make continuous learning a habit.

Curiosity is your best friend.

Learning is investing in yourself. It’s human capital. Eventually, you’ll monetize your knowledge one way or another. Believe in the process.

Lesson #2: No risk, no return

When I started dropshipping, I expected to see results with a 5 or 10 euros daily budget. Then, I got disappointed when I saw no results.

In fact, I figured that it doesn’t matter how much I spend, as long as the ROAS makes it worth it.

I quickly realized that I needed to risk and invest more if I wanted a speedy launch.

Lesson #3: Never stop testing

This one’s for those of you in eCommerce - you always have to keep testing.

Trends evolve, people’s attention switches, new things are the hype now.

So, unless you hit it big with a unique product and decide to build a brand, it’s pretty normal that you test products continuously.

And, if someone makes it sound less than that, they’re lying.

In eCommerce and most other digital or online businesses, if you’re not changing, you’re dying. Things move fast, new tools, new trends, new platforms. You have to keep up. Otherwise, you get left behind.

Lesson #4: Build a community

Now, we’ve reached the lesson I definitely wished I learned sooner. No matter how cliche it sounds, building a community and a solid network is gold. Not just in eCommerce but any business really.

With a like-minded following, you never know what opportunities await right around the corner. Surround yourself with an army of successful people and learn from each other.

Lesson #5: Nobody cares

Hey, don’t get me wrong - of course, it’s not good that nobody cares about you, or me for that matter.

But, see it from a different angle - nobody cares about you and what you do. How freeing is that when you think about it?

It means nobody is watching you and waiting for you to fuck it up. Everyone has their own lives, and they aren’t that concerned with yours.

Don’t be afraid to do things out of fear of what others will say or think about you - nobody cares. Go, start making money!

Lesson #6: Structure and systems

For me, success didn’t come until I structured my workflows and set proper success systems in place.

What do I mean by ‘system’?

A routine. A daily routine that you’ll follow consistently for a prolonged period, and put time and effort into until you see results.

Build your systems and structure your daily work. Get a planner. Set time slots aside. Whatever works. Your productivity will surprise you.

Lesson #7: Time is what matters

Once you realize the value of time, you’ll stop being afraid to charge your clients what you believe your service is worth. You’ll stop being afraid to price your product higher.

Learn that time is an asset. It’s an investment.

You invested time to learn a skill. As a result, now, you’re an expert in it. So, pricing your services on the higher end means that you’re confident in your skills and value your time.

The same goes for selling products.

Match your pricing to the value you provide, not to the competition.

Lesson #8: Do what you love

I had to learn this one the hard way - you’ll never be as successful as you want to be or as rich as you want to get doing something you hate or suck at.

You don’t have to do what you aren’t good at or what doesn’t feel natural to you just because someone said it’s worth it.

Coding is a really well-paid skill, but if you suck at it, don’t waste time there.

Instead, find what you love doing and are good at, and spend time perfecting that skill.

Lesson #9: Use tools

A point I should’ve implemented in my own life sooner - use tools.

For real, they can simplify your life.

No matter if you’re a dropshipper, blogger, or freelancer, there are tools out there to automate and speed up manual tasks and parts of your business.

We already spoke about time being our most valuable resource, and that’s why I started loving tools in my everyday life - they save me time! Time to focus on more important business decisions or marketing tests.

Automation and AI are your friends, my friends!

Lesson #10: Failures are necessary

Notice that I didn’t say good, but necessary. To fail isn’t just good, it’s more than that - it downright necessary.

We don’t learn lessons just by reading them (although I hope you learned something out of this thread).

We learn by doing. We learn by trial and error.

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@richstemecom

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