Discussion in 'Making Money' started by EmilioGC, May 22, 2016.
I want to know what everyone's worst mistakes are, with the purpose of learning.
linked all my twitter accounts together, and they all got suspended last month, with the amount spent in terms of link building, servers and other costs. It was a big mistake.
My biggest mistake -> One word ->> FOREX
Ignoring Fiverr for so long.
Wasting time. Time is the only investment that you cannot earn back. Money comes and goes. Time only goes...
Yeah like said above it's about time.
Too many projects that were started and never finished. The amount of hours....
I bought a website for $100 and sold it for $500 thinking I made the deal of the century. 6 months later I found out that such website was making $180 via AdSense. I didn't know about AdSense back then, the traffic was very good and that's why I make the purchase.
Could you elaborate a little more please?
Like Tazdingo said wasting time.
(1) Jumping on the train too late more than once.
(2) Not email verifying my instagram accs when i still could, but it wasn't yet needed. As a result of this, now i have ~700-800 aged accs (3 year old+) with 1,5 million real followers total, which i can't access anymore. lol
No bad investments so far, but i guess it's mainly because i invest only into bots, proxies and social media/email accs.
It's cool to be a spammer, low investment high money
Didn't Know BHW earlier
I spent my 130$ invest to Neobux. After buying a golden membership it exposed it is an professional scam PTC site. I gained back 60$ from Neobux and loss 70$. Don't know why people still promote such things like that.
Being too lenient and trusting.
When I first started working with clients, this led to issues involving scope creep, late payments, no payments, haggling, and overall unresponsiveness from the clients (usually when I messaged them about their payment). However, over time I developed better contracts and took on a more assertive, albeit still amiable tone. I'm still a bit lenient when it comes to my clients paying (I'm fine with late payments as long as they pay within 2 weeks) although some of them surprise me by paying early some months. Of course, these are clients I've had for years, so i trust them enough to pay.
Yeah, agreed. I prefer to lose money rather than losing time. Nobody can get your time back.
It was a good deal! Even tho you should have made some research about website monetization before selling it.
Jumping on the train too late? Why? Were you unsure?
At least it wasn't that much money, IMO the $70 you lost were for good, I bet you are now better at identifying/researching scams and such.
Exactly. And there are two types of time lost.
1. The time invested that you physically spent doing X project or method.
2. The opportunity cost of the time spent that you could have used for something more worthwhile (that may have brought you residual income to this day).
I can't really say i was. It was mostly, because i didn't know about the opportunity in time or just didn't take it seriously enough and when i realized, it was already too late.
Or here's another mistake i've done: when i was making quite a bit of money with only working 2-3 hours per day for a few months, i could have easily put into more work hours and invest into resources (new machines, VPS, more accs, more proxies etc.), so i could have multiplied the profit, but i just didn't, because i was making more than i ever expected to make with IM. I didn't put more work into it or invested more, i settled for less, method got patched and that was it.
When you have something figured out, you're 100% sure that it's working and has a good ROI, don't delay investing in resources and scaling up, if that can make you more, because you never know when the method will go poof.
"Scope creep" - haha love that phrase!
My biggest mistake - wishful thinking - I learned you have to be really honest with yourself with want ventures are and are not working and go with the ones that are working, not the ones you want to work.
On top of everything, time wasting, as others said, and not to believe enough in what I start.
Separate names with a comma.